Giverny Capital Asset Management’s Q2 2023 Investor Letter

Giverny Capital Asset Management, LLC, an investment management company, recently published its second-quarter 2023 investor letter. A copy of the same can be downloaded here. The firm’s model portfolio appreciated 7.92%, net of fees in the second quarter compared to an 8.74% return for the Standard & Poor’s 500 Index. Year-to-date, the portfolio returned 14.46% compared to 16.89% for the Index. Since inception, the portfolio generated an annualized performance of 17.4%, net of fees, vs. 20.1% for the Index.  In addition, please check the fund’s top five holdings to know its best picks in 2023.