Francois Rochon - Giverny Capital 13F Activity & Position Changes (Q4 2018)

According to the SEC 13F filed on Aug 14, 2026, the Giverny Capital portfolio showed several notable changes in holdings as of quarter-end Dec 31, 2018. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q4 2018, the filing reported:

New Buys - Bank OZK

Increases - Apple Inc., Fortune Brands Innovations, Inc, Alphabet Inc., JP Morgan Chase & Co., Meta Platforms, Inc., and 6 more

Reductions - AMETEK, Inc., Berkshire Hathaway Inc. New, Walt Disney Company (The), Edwards Lifesciences Corporatio, Liberty Media Corp Formula One Group, and 9 more

Complete Exits - Ryanair Holdings plc

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q4 2018	AAPL Apple Inc.	Apple Inc.	Buy	+51	+2.4%	$344.00	2,178
Q4 2018	AME AMETEK, Inc.	AMETEK, Inc.	Sell	-5,530	-0.7%	$51.83K	765,626
Q4 2018	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Sell	-4,518	-0.6%	$164.98K	808,018
Q4 2018	DIS Walt Disney Company (The)	Walt Disney Company (The)	Sell	-111,389	-36.8%	$21.02K	191,663
Q4 2018	EW Edwards Lifesciences Corporatio	Edwards Lifesciences Corporatio	Sell	-58,512	-32.4%	$18.71K	122,178
Q4 2018	FBIN Fortune Brands Innovations, Inc	Fortune Brands Innovations, Inc	Buy	+204,241	+53.7%	$22.20K	584,497
Q4 2018	FWONK Liberty Media Corp Formula One Group	Liberty Media Corp Formula One Group	Sell	-10,674	-1.6%	$20.43K	665,538
Q4 2018	GOOG Alphabet Inc.	Alphabet Inc.	Buy	+251	+0.7%	$35.41K	34,193
Q4 2018	GOOGL Alphabet Inc.	Alphabet Inc.	Sell	-44	-0.8%	$5.89K	5,638
Q4 2018	HEI-A Heico Corporation	Heico Corporation	Sell	-6,661	-1.4%	$28.77K	456,666
Q4 2018	JPM JP Morgan Chase & Co.	JP Morgan Chase & Co.	Buy	+95,425	+46.2%	$29.50K	302,194
Q4 2018	KMX CarMax Inc	CarMax Inc	Sell	-13,912	-1.2%	$72.49K	1,155,593
Q4 2018	LFUS Littelfuse, Inc.	Littelfuse, Inc.	Sell	-817	-0.8%	$17.37K	101,282
Q4 2018	LKQ LKQ Corporation	LKQ Corporation	Sell	-7,750	-1.8%	$10.28K	433,083
Q4 2018	META Meta Platforms, Inc.	Meta Platforms, Inc.	Buy	+3,261	+2.9%	$15.32K	116,870
Q4 2018	MHK Mohawk Industries, Inc.	Mohawk Industries, Inc.	Buy	+105,718	+89.4%	$26.19K	223,935
Q4 2018	MKL Markel Group Inc.	Markel Group Inc.	Buy	+227	+0.7%	$35.75K	34,438
Q4 2018	MTB M&T Bank Corporation	M&T Bank Corporation	Buy	+2,217	+1.8%	$17.71K	123,764
Q4 2018	NVR NVR, Inc.	NVR, Inc.	Buy	+6,382	+91.0%	$32.64K	13,395
Q4 2018	ORLY O'Reilly Automotive, Inc.	O'Reilly Automotive, Inc.	Sell	-975	-1.9%	$17.27K	50,152
Q4 2018	OZK Bank OZK	Bank OZK	Buy - Position Entry	+671,992	-	$15.34K	671,992
Q4 2018	RYAAY Ryanair Holdings plc	Ryanair Holdings plc	Sell - Position Exit	-2,500	-100.0%	$0.00	-
Q4 2018	SCHW Charles Schwab Corporation (The	Charles Schwab Corporation (The	Buy	+158,217	+31.3%	$27.59K	664,346
Q4 2018	SPY SPDR S&P 500	SPDR S&P 500	Sell	-7	-0.1%	$1.32K	5,295
Q4 2018	TJX TJX Companies, Inc. (The)	TJX Companies, Inc. (The)	Buy	+5,467	+100.0%	$489.00	10,934
Q4 2018	UNP Union Pacific Corporation	Union Pacific Corporation	Sell	-83,688	-30.1%	$26.86K	194,347
Q4 2018	V Visa Inc.	Visa Inc.	Sell	-4,836	-1.6%	$39.29K	297,762