samedi 12 mai 2018

Ce que les meilleurs achètent - Giverny Capital

Another batch of last quarter's transactions is coming, and Giverny Capital is the first to be presented here.

Giverny Capital has made small buys here and there. But here's the most significant transactions of the fund:

Carmax: +5%, now represents 9,1% of the total US portfolio
GOOG + 5%,  now represents 4,1% of the total US portfolio
Disney + 6%, now represents 3,8% of the total US portfolio
Edwards Lifescience + 5%, now represents 3,2% of the total US portfolio
Credit Acceptance Corp + 7% now represents 2,8% of the total US portfolio

What whalewisdom doesn't show is the canadian positions of Giverny Capital. I know that about 20% of the fund is occupied by three canadian stocks which are MTY Food Group, Dollarama and Constellation Software. However, I don't know the exact percentage of each stock.

So, if we do the math, we could reduce each US position by 20% to know the real percentage of a specific stock in the fund. For instance, Carmax would represent about 7,2% of the fund (9,1% X 80%).

I really like Giverny because they know how to combine the most important metrics in a big performant portfolio. You learn a lot when you study the metrics of the stocks bought by your favorite investors.

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