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Here’s Why Giverny Capital Asset Management Sold Credit Acceptance Corporation (CACC) in Q3

Giverny Capital Asset Management, LLC, an investment management company, recently published its third-quarter 2025 investor letter. A copy of the letter can be downloaded here. The portfolio generated good results in the third quarter and returned 6.78% compared to 8.12% for the S&P 500. YTD, the fund returned 12.57% compared to 14.83% for the index. Additionally, you can review the fund’s top 5 holdings to see its best picks for 2025.

In its third-quarter 2025 investor letter, Giverny Capital Asset Management highlighted stocks such as Credit Acceptance Corporation (NASDAQ:CACC)....