# EDGAR Filing Document

**Accession Number:** 0001641864
**File Stem:** 0001641864-25-000009
**Filing Date:** 2025-8
**Character Count:** 72203
**Document Hash:** 549f68fec0f18089a4dbced7b3750bbf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001641864-25-000009.hdr.sgml**: 20250819

**ACCESSION NUMBER**: 0001641864-25-000009

**CONFORMED SUBMISSION TYPE**: N-PX

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250819

**EFFECTIVENESS DATE**: 20250819

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Giverny Capital Inc.
- **CENTRAL INDEX KEY:** 0001641864

**ORGANIZATION NAME:**
- **EIN:** 980653474
- **STATE OF INCORPORATION:** A8
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** N-PX
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-16878
- **FILM NUMBER:** 251229852

**BUSINESS ADDRESS:**
- **STREET 1:** 759 SQUARE-VICTORIA - 105
- **CITY:** MONTREAL
- **STATE:** A8
- **ZIP:** H2Y 2J7
- **BUSINESS PHONE:** 514-842-5589

**MAIL ADDRESS:**
- **STREET 1:** 759 SQUARE-VICTORIA - 105
- **CITY:** MONTREAL
- **STATE:** A8
- **ZIP:** H2Y 2J7

## FORM N-PX
### ANNUAL REPORT OF PROXY VOTING RECORD

## N-PX: Filer Information

**Filer CIK:** 0001641864

**Date of Report:** 06/30/2025

**Are you a Registered Management Investment Company or an Institutional Manager?:** Institutional Manager

**Is this a LIVE or TEST Filing?:** LIVE

**Is this an electronic copy of an official filing submitted in paper format?:** [ ]

### Submission Contact Information
_Not provided in this filing._

### Notification Information
**Notify via Filing Website only?:** [ ]

## N-PX: Cover Page

**Name of reporting person:** Giverny Capital Inc.

**Address:** 759 SQUARE-VICTORIA - 105, MONTREAL, Z4 H2Y 2J7

**Telephone number:** 514-842-5589

**Name of agent for service:** —

**Agent Address:** —, —, — —

**Reporting Period:** Report for the year ended 06/30/2025

**SEC File Number:** 028-16878

**CRD Number (if any):** —

**Other SEC File Number (if any):** —

**LEI (if any):** 549300NQHLWQTMTLVT41

**Report Type (check only one):**

Institutional Manager.

- [x] Institutional Manager Voting Report

- [ ] Institutional Manager Notice Report

- [ ] Institutional Manager Combination Report

Registered Management Investment Company.

- [ ] Fund Voting Report

- [ ] Fund Notice Report

**Do you wish to provide explanatory information pursuant to Special Instruction B.4?:**

- [x] No

- [ ] Yes

**Additional information:** —

## N-PX: Summary - Included Managers

**Number of Included Institutional Managers:** 2

**Included Institutional Managers:** —

## FORM N-PX PROXY VOTING RECORD

| NAME OF ISSUER                           | CUSIP     | MEETING DATE   | VOTE DESCRIPTION                                                                                                                                                                                                                              | VOTE CATEGORY                |     SHARES VOTED |   SHARES ON LOAN | HOW VOTED   | SHARES VOTED FOR OR AGAINST MANAGEMENT   | FOR OR AGAINST MANAGEMENT   | OTHER INFO   |
|:---|:---|:---|:---|:---|---:|---:|:---|:---|:---|:---|
| AMETEK, INC.                             | 031100100 | 05/07/2025     | Approval, by advisory vote, of the compensation of AMETEK, Inc.'s named executive officers.                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES | 117163           |                0 | FOR         | 117162.7979                              | FOR                         |  |
| ANALOG DEVICES, INC.                     | 032654105 | 03/12/2025     | Advisory vote to approve the compensation of our named executive officers.                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |  22149.2         |                0 | FOR         | 22149                                    | FOR                         |  |
| APPLE INC.                               | 037833100 | 02/25/2025     | Advisory vote to approve executive compensation                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |   1556           |                0 | FOR         | 1556                                     | FOR                         |  |
| BANK OF AMERICA CORPORATION              | 060505104 | 04/22/2025     | Approving our executive compensation (an advisory, non-binding "Say on Pay" resolution)                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES | 137848           |                0 | FOR         | 137848                                   | FOR                         |  |
| BANK OZK                                 | 06417N103 | 05/05/2025     | To approve, on an advisory, non-binding basis, the compensation of the Company's named executive officers as disclosed in the Proxy Statement.                                                                                                | SECTION 14A SAY-ON-PAY VOTES | 157078           |                0 | FOR         | 157077.8852                              | FOR                         |  |
| BOOKING HOLDINGS INC.                    | 09857L108 | 06/03/2025     | Advisory vote to approve 2024 executive compensation.                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |   2708.02        |                0 | FOR         | 2708.0194                                | FOR                         |  |
| BROWN  BROWN, INC.                       | 115236101 | 05/07/2025     | To approve, on an advisory basis, the compensation of named executive officers.                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |  41968.1         |                0 | FOR         | 41968.1288                               | FOR                         |  |
| CARMAX, INC.                             | 143130102 | 06/24/2025     | To approve, in an advisory (non-binding) vote, the compensation of our named executive officers.                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES | 188577           |                0 | FOR         | 188577                                   | FOR                         |  |
| COGNEX CORPORATION                       | 192422103 | 04/30/2025     | To approve, on an advisory basis, the compensation of Cognex's named executive officers, as described in the proxy statement including the Compensation Discussion and Analysis, compensation tables and narrative discussion ("say-on-pay"). | SECTION 14A SAY-ON-PAY VOTES |    200           |                0 | FOR         | 200                                      | FOR                         |  |
| CONSTELLATION SOFTWARE INC.              | 21037X100 | 05/13/2025     | An advisory vote to accept the Corporation's approach to executive compensation as more particularly described in the accompanying management information circular.                                                                           | SECTION 14A SAY-ON-PAY VOTES |  10640           |                0 | FOR         | 10640                                    | FOR                         |  |
| COSTCO WHOLESALE CORPORATION             | 22160K105 | 01/23/2025     | Approval, on an advisory basis, of executive compensation.                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |    240           |                0 | FOR         | 240                                      | FOR                         |  |
| DOLLARAMA INC.                           | 25675T107 | 06/11/2025     | Adoption of an advisory non-binding resolution in respect of the Corporation's approach to executive compensation, as more particularly described in the management proxy circular.                                                           | SECTION 14A SAY-ON-PAY VOTES | 120834           |                0 | FOR         | 120834                                   | FOR                         |  |
| FISERV, INC.                             | 337738108 | 05/14/2025     | To approve, on an advisory basis, the compensation of the named executive officers of Fiserv, Inc.                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |  70610           |                0 | FOR         | 70610                                    | FOR                         |  |
| FIVE BELOW, INC.                         | 33829M101 | 06/12/2025     | To approve, by non-binding advisory vote, the Company's Named Executive Officer compensation.                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |  79694           |                0 | FOR         | 79694                                    | FOR                         |  |
| FIVE BELOW, INC.                         | 33829M101 | 06/12/2025     | Non-binding advisory vote on whether the frequency of the shareholder vote on our executive compensation should be every 1, 2 or 3 years.                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |  79694           |                0 | 1 YEAR      | 79694                                    | FOR                         |  |
| FLOOR  DECOR HOLDINGS, INC.              | 339750101 | 05/07/2025     | Approve, by non-binding vote, the compensation paid to the Company's named executive officers for the 2024 fiscal year.                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |  29963           |                0 | FOR         | 29963                                    | FOR                         |  |
| HEICO CORPORATION                        | 422806208 | 03/14/2025     | ADVISORY APPROVAL OF THE COMPANY'S EXECUTIVE COMPENSATION.                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |  87351.5         |                0 | FOR         | 87352                                    | FOR                         |  |
| INSTALLED BUILDING PRODUCTS, INC.        | 45780R101 | 05/20/2025     | Approval, on an advisory basis, of the compensation of our named executive officers.                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |  50953.9         |                0 | FOR         | 50953.9151                               | FOR                         |  |
| INTUIT INC.                              | 461202103 | 01/23/2025     | Advisory vote to approve Intuit's executive compensation (say-on-pay).                                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |    120           |                0 | FOR         | 120                                      | FOR                         |  |
| KEYSIGHT TECHNOLOGIES, INC.              | 49338L103 | 03/20/2025     | Approve, on a non-binding advisory basis, the compensation of Keysight's Named Executive Officers.                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |  46396           |                0 | FOR         | 46396                                    | FOR                         |  |
| KINSALE CAPITAL GROUP, INC.              | 49714P108 | 05/22/2025     | Advisory vote to approve executive compensation                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |  16456           |                0 | FOR         | 16456.0169                               | FOR                         |  |
| LITTELFUSE, INC.                         | 537008104 | 04/24/2025     | Approve, on an advisory basis, the compensation of the Company's named executive officers.                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |   9888.03        |                0 | FOR         | 9888                                     | FOR                         |  |
| LULULEMON ATHLETICA INC.                 | 550021109 | 06/11/2025     | To approve, on an advisory basis, the compensation of the Company's named executive officers.                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |  16415           |                0 | FOR         | 16415                                    | FOR                         |  |
| M BANK CORPORATION                       | 55261F104 | 04/15/2025     | TO APPROVE THE 2024 COMPENSATION OF M BANK CORPORATION'S NAMED EXECUTIVE OFFICERS.                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |  38288.8         |                0 | FOR         | 38289                                    | FOR                         |  |
| MARKEL GROUP INC.                        | 570535104 | 05/21/2025     | Advisory vote on approval of executive compensation.                                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |   5586           |                0 | FOR         | 5586                                     | FOR                         |  |
| MASTERCARD INCORPORATED                  | 57636Q104 | 06/24/2025     | Advisory approval of Mastercard's executive compensation                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |    725           |                0 | FOR         | 725                                      | FOR                         |  |
| MEDPACE HOLDINGS, INC.                   | 58506Q109 | 05/16/2025     | To approve, on an advisory basis, the compensation of our named executive officers as disclosed in the proxy statement for the 2025 Annual Meeting.                                                                                           | SECTION 14A SAY-ON-PAY VOTES |  25636           |                0 | FOR         | 25636                                    | FOR                         |  |
| META PLATFORMS, INC.                     | 30303M102 | 05/28/2025     | To approve, on a non-binding advisory basis, the compensation program for Meta Platforms, Inc.'s named executive officers as disclosed in Meta Platforms, Inc.'s proxy statement.                                                             | SECTION 14A SAY-ON-PAY VOTES |  29497.4         |                0 | FOR         | 29497.4135                               | FOR                         |  |
| META PLATFORMS, INC.                     | 30303M102 | 05/28/2025     | To vote, on a non-binding advisory basis, whether a non-binding advisory vote on the compensation program for Meta Platforms, Inc.'s named executive officers should be held every one, two or three years.                                   | SECTION 14A SAY-ON-PAY VOTES |  29497.4         |                0 | 1 YEAR      | 29497.4135                               | AGAINST                     |  |
| MTY FOOD GROUP INC.                      | 55378N107 | 05/02/2025     | On an advisory basis, to accept the Board's approach to executive compensation disclosed in the Information Circular.                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |  97495           |                0 | FOR         | 97495                                    | FOR                         |  |
| NVR, INC.                                | 62944T105 | 05/06/2025     | Advisory vote to approve compensation paid to certain executive officers.                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |   1847           |                0 | FOR         | 1847                                     | FOR                         |  |
| O'REILLY AUTOMOTIVE, INC.                | 67103H107 | 05/15/2025     | Advisory vote to approve executive compensation.                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |     39           |                0 | FOR         | 39                                       | FOR                         |  |
| PRUDENTIAL FINANCIAL, INC.               | 744320102 | 05/13/2025     | Advisory vote to approve named executive officer compensation.                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |     47           |                0 | FOR         | 47                                       | FOR                         |  |
| STARBUCKS CORPORATION                    | 855244109 | 03/12/2025     | Approve, on an advisory, nonbinding basis, the compensation of our named executive officers.                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |  94896.2         |                0 | FOR         | 94896                                    | FOR                         |  |
| THE CHARLES SCHWAB CORPORATION           | 808513105 | 05/22/2025     | Advisory approval of named executive officer compensation                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |  78422.9         |                0 | FOR         | 78422.9333                               | FOR                         |  |
| THE PROGRESSIVE CORPORATION              | 743315103 | 05/09/2025     | Cast an advisory vote to approve our executive compensation program.                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |  51781.8         |                0 | FOR         | 51781.7916                               | FOR                         |  |
| THE TJX COMPANIES, INC.                  | 872540109 | 06/10/2025     | Advisory approval of TJX's executive compensation (the say-on-pay vote)                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |    806           |                0 | FOR         | 806                                      | FOR                         |  |
| THE WALT DISNEY COMPANY                  | 254687106 | 03/20/2025     | Consideration of an advisory vote to approve executive compensation.                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |  33030.6         |                0 | FOR         | 33031                                    | FOR                         |  |
| TOREX GOLD RESOURCES INC.                | 891054603 | 06/18/2025     | Advisory Resolution on Executive Compensation Approach To consider and, if deemed appropriate, to pass, with or without variation, a non-binding advisory resolution on executive compensation.                                               | SECTION 14A SAY-ON-PAY VOTES |   2550           |                0 | FOR         | 2550                                     | FOR                         |  |
| VISA INC.                                | 92826C839 | 01/28/2025     | To approve, on an advisory basis, the compensation paid to our named executive officers.                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |  51669.3         |                0 | FOR         | 51669                                    | FOR                         |  |
| AAON, INC.                               | 000360206 | 05/13/2025     | Proposal to approve, on an advisory basis, a resolution on the compensation of AAON's named executive officers as set forth in the Proxy Statement.                                                                                           | SECTION 14A SAY-ON-PAY VOTES | 134321           |                0 | FOR         | 134321                                   | FOR                         |  |
| ALIGN TECHNOLOGY, INC.                   | 016255101 | 05/21/2025     | Advisory Vote to Approve the Compensation of our Named Executive Officers                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |  32227           |                0 | FOR         | 32227                                    | FOR                         |  |
| AMERICAN EXPRESS COMPANY                 | 025816109 | 04/29/2025     | Approval, on an advisory basis, of the Company's executive compensation.                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |    557           |                0 | FOR         | 557                                      | FOR                         |  |
| AMETEK, INC.                             | 031100100 | 05/07/2025     | Approval, by advisory vote, of the compensation of AMETEK, Inc.'s named executive officers.                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |  68781.7         |                0 | FOR         | 68781.673                                | FOR                         |  |
| APPLE INC.                               | 037833100 | 02/25/2025     | Advisory vote to approve executive compensation                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |   2101.36        |                0 | FOR         | 2101                                     | FOR                         |  |
| ARISTA NETWORKS, INC.                    | 040413205 | 05/30/2025     | Approval, on an advisory basis, of the compensation of our named executive officers.                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES | 333083           |                0 | FOR         | 333083                                   | FOR                         |  |
| ASHTEAD GROUP PLC                        | G05320109 | 09/04/2024     | APPROVAL OF THE DIRECTORS REMUNERATION REPORT                                                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |      0           |                0 |  |  |  |  |
| CARMAX, INC.                             | 143130102 | 06/24/2025     | To approve, in an advisory (non-binding) vote, the compensation of our named executive officers.                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES | 139581           |                0 | FOR         | 139581                                   | FOR                         |  |
| CONSTELLATION SOFTWARE INC               | 21037X100 | 05/13/2025     | AN ADVISORY VOTE TO ACCEPT THE CORPORATION'S APPROACH TO EXECUTIVE COMPENSATION AS MORE PARTICULARLY DESCRIBED IN THE ACCOMPANYING MANAGEMENT INFORMATION CIRCULAR.                                                                           | SECTION 14A SAY-ON-PAY VOTES |   1259           |                0 | FOR         | 1259                                     | FOR                         |  |
| CONSTELLATION SOFTWARE INC.              | 21037X100 | 05/13/2025     | An advisory vote to accept the Corporation's approach to executive compensation as more particularly described in the accompanying management information circular.                                                                           | SECTION 14A SAY-ON-PAY VOTES |   9657           |                0 | FOR         | 9657                                     | FOR                         |  |
| CREDIT ACCEPTANCE CORPORATION            | 225310101 | 06/04/2025     | Advisory vote to approve named executive officer compensation.                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |  21323           |                0 | FOR         | 21323                                    | FOR                         |  |
| DIAGEO PLC                               | 25243Q205 | 09/26/2024     | Directors' remuneration report 2024.                                                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |    715           |                0 | FOR         | 715                                      | FOR                         |  |
| FERGUSON ENTERPRISES INC.                | 31488V107 | 12/05/2024     | To approve, on an advisory basis, the fiscal 2024 compensation of the Company's Named Executive Officers.                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |  24498           |                0 | FOR         | 24498                                    | FOR                         |  |
| FERGUSON ENTERPRISES INC.                | 31488V107 | 12/05/2024     | To approve, on an advisory basis, the frequency of future shareholder advisory votes to approve the compensation of the Company's Named Executive Officers.                                                                                   | SECTION 14A SAY-ON-PAY VOTES |  24498           |                0 | 1 YEAR      | 24498                                    | FOR                         |  |
| FISERV, INC.                             | 337738108 | 05/14/2025     | To approve, on an advisory basis, the compensation of the named executive officers of Fiserv, Inc.                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |  45936           |                0 | FOR         | 45936                                    | FOR                         |  |
| FORD MOTOR COMPANY                       | 345370860 | 05/08/2025     | An Advisory Vote to Approve the Compensation of the Named Executives.                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |    136           |                0 | FOR         | 136                                      | FOR                         |  |
| HEICO CORPORATION                        | 422806208 | 03/14/2025     | ADVISORY APPROVAL OF THE COMPANY'S EXECUTIVE COMPENSATION.                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |  75800.3         |                0 | FOR         | 75801                                    | FOR                         |  |
| INSTALLED BUILDING PRODUCTS, INC.        | 45780R101 | 05/20/2025     | Approval, on an advisory basis, of the compensation of our named executive officers.                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |  72248.1         |                0 | FOR         | 72248.142                                | FOR                         |  |
| JPMORGAN CHASE  CO.                      | 46625H100 | 05/20/2025     | Advisory resolution to approve executive compensation                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |  33915.6         |                0 | FOR         | 33915.603                                | FOR                         |  |
| KINSALE CAPITAL GROUP, INC.              | 49714P108 | 05/22/2025     | Advisory vote to approve executive compensation                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |  29201.1         |                0 | FOR         | 29201.0862                               | FOR                         |  |
| M BANK CORPORATION                       | 55261F104 | 04/15/2025     | TO APPROVE THE 2024 COMPENSATION OF M BANK CORPORATION'S NAMED EXECUTIVE OFFICERS.                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |  47904.9         |                0 | FOR         | 47905                                    | FOR                         |  |
| MASTERCARD INCORPORATED                  | 57636Q104 | 06/24/2025     | Advisory approval of Mastercard's executive compensation                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |  17817           |                0 | FOR         | 17817.0276                               | FOR                         |  |
| MEDPACE HOLDINGS, INC.                   | 58506Q109 | 05/16/2025     | To approve, on an advisory basis, the compensation of our named executive officers as disclosed in the proxy statement for the 2025 Annual Meeting.                                                                                           | SECTION 14A SAY-ON-PAY VOTES |  41144           |                0 | FOR         | 41144                                    | FOR                         |  |
| META PLATFORMS, INC.                     | 30303M102 | 05/28/2025     | To approve, on a non-binding advisory basis, the compensation program for Meta Platforms, Inc.'s named executive officers as disclosed in Meta Platforms, Inc.'s proxy statement.                                                             | SECTION 14A SAY-ON-PAY VOTES |  34723.6         |                0 | FOR         | 34723.6345                               | FOR                         |  |
| META PLATFORMS, INC.                     | 30303M102 | 05/28/2025     | To vote, on a non-binding advisory basis, whether a non-binding advisory vote on the compensation program for Meta Platforms, Inc.'s named executive officers should be held every one, two or three years.                                   | SECTION 14A SAY-ON-PAY VOTES |  34723.6         |                0 | 1 YEAR      | 34723.6345                               | AGAINST                     |  |
| MICROSOFT CORPORATION                    | 594918104 | 12/10/2024     | Advisory Vote to Approve Named Executive Officer Compensation ("say-on-pay vote").                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |    147.178       |                0 | FOR         | 147                                      | FOR                         |  |
| ROPER TECHNOLOGIES, INC.                 | 776696106 | 06/10/2025     | Advisory vote to approve the compensation of our named executive officers.                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |     85           |                0 | FOR         | 85                                       | FOR                         |  |
| THE CHARLES SCHWAB CORPORATION           | 808513105 | 05/22/2025     | Advisory approval of named executive officer compensation                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES | 237961           |                0 | FOR         | 237961.2225                              | FOR                         |  |
| THE PROGRESSIVE CORPORATION              | 743315103 | 05/09/2025     | Cast an advisory vote to approve our executive compensation program.                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |  89828.3         |                0 | FOR         | 89828.3163                               | FOR                         |  |
| UBER TECHNOLOGIES, INC.                  | 90353T100 | 05/05/2025     | Advisory vote to approve 2024 named executive officer compensation.                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |     50           |                0 | FOR         | 50                                       | FOR                         |  |
| VISA INC.                                | 92826C839 | 01/28/2025     | To approve, on an advisory basis, the compensation paid to our named executive officers.                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |   1937           |                0 | FOR         | 1937                                     | FOR                         |  |
| AIR PRODUCTS AND CHEMICALS, INC.         | 009158106 | 01/23/2025     | Advisory Vote Approving the Compensation of the Company's Executive Officers.                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |     77           |                0 | FOR         | 77                                       | FOR                         |  |
| ALIGN TECHNOLOGY, INC.                   | 016255101 | 05/21/2025     | Advisory Vote to Approve the Compensation of our Named Executive Officers                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |     80           |                0 | FOR         | 80                                       | FOR                         |  |
| ALIMENTATION COUCHE-TARD INC.            | 01626P148 | 09/05/2024     | On an advisory basis and not to diminish the role and responsibilities of the board of directors that the shareholders accept the approach to executive compensation as disclosed in our 2024 management information circular.                | SECTION 14A SAY-ON-PAY VOTES |  15984           |                0 | FOR         | 15984                                    | FOR                         |  |
| AMAZON.COM, INC.                         | 023135106 | 05/21/2025     | ADVISORY VOTE TO APPROVE EXECUTIVE COMPENSATION                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |     60           |                0 | FOR         | 60                                       | FOR                         |  |
| AMETEK, INC.                             | 031100100 | 05/07/2025     | Approval, by advisory vote, of the compensation of AMETEK, Inc.'s named executive officers.                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES | 719540           |                0 | FOR         | 719540                                   | FOR                         |  |
| ANALOG DEVICES, INC.                     | 032654105 | 03/12/2025     | Advisory vote to approve the compensation of our named executive officers.                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES | 141259           |                0 | FOR         | 141259                                   | FOR                         |  |
| APPLE INC.                               | 037833100 | 02/25/2025     | Advisory vote to approve executive compensation                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |  14997           |                0 | FOR         | 14997                                    | FOR                         |  |
| BANK OF AMERICA CORPORATION              | 060505104 | 04/22/2025     | Approving our executive compensation (an advisory, non-binding "Say on Pay" resolution)                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES | 807398           |                0 | FOR         | 807398                                   | FOR                         |  |
| BANK OZK                                 | 06417N103 | 05/05/2025     | To approve, on an advisory, non-binding basis, the compensation of the Company's named executive officers as disclosed in the Proxy Statement.                                                                                                | SECTION 14A SAY-ON-PAY VOTES | 993623           |                0 | FOR         | 993623                                   | FOR                         |  |
| BAYTEX ENERGY CORP.                      | 07317Q105 | 05/05/2025     | Consider a non-binding advisory resolution to accept Baytex's approach to executive compensation.                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |    300           |                0 | FOR         | 300                                      | FOR                         |  |
| BCE INC.                                 | 05534B760 | 05/08/2025     | Advisory resolution on executive compensation as described in section 3.4 of the management proxy circular                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |      3           |                0 | FOR         | 3                                        | FOR                         |  |
| BOMBARDIER INC.                          | 097751861 | 05/01/2025     | Advisory Vote on the Remuneration of the Executive Officers of Bombardier Inc. The approach to executive compensation disclosed in the Management Proxy Circular.                                                                             | SECTION 14A SAY-ON-PAY VOTES |   1586           |                0 | FOR         | 1586                                     | FOR                         |  |
| BOOKING HOLDINGS INC.                    | 09857L108 | 06/03/2025     | Advisory vote to approve 2024 executive compensation.                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |  17394           |                0 | FOR         | 17394                                    | FOR                         |  |
| BOYD GROUP SERVICES INC.                 | 103310108 | 05/14/2025     | As to the Resolution to vote on an advisory resolution on BGSI's approach to executive compensation:                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |   3874           |                0 | FOR         | 3874                                     | FOR                         |  |
| BROOKFIELD CORPORATION                   | 11271J107 | 06/06/2025     | Say on Pay Resolution The Say on Pay Resolution set out in the Circular.                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |     50           |                0 | FOR         | 50                                       | FOR                         |  |
| BROWN  BROWN, INC.                       | 115236101 | 05/07/2025     | To approve, on an advisory basis, the compensation of named executive officers.                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES | 236969           |                0 | FOR         | 236969                                   | FOR                         |  |
| CANADIAN IMPERIAL BANK OF COMMERCE       | 136069101 | 04/03/2025     | Advisory resolution regarding our executive compensation approach                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |      2           |                0 | FOR         | 2                                        | FOR                         |  |
| CANADIAN PACIFIC KANSAS CITY LIMITED     | 13646K108 | 04/30/2025     | Advisory vote to approve the Corporation's approach to executive compensation as described in the Proxy Circular.                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |   1645           |                0 | FOR         | 1645                                     | FOR                         |  |
| CARMAX, INC.                             | 143130102 | 06/24/2025     | To approve, in an advisory (non-binding) vote, the compensation of our named executive officers.                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |      1.18336e+06 |                0 | FOR         | 1183356                                  | FOR                         |  |
| CENOVUS ENERGY INC.                      | 15135U109 | 05/08/2025     | Shareholder Advisory Vote on Executive Compensation Accept the Corporation's approach to executive compensation.                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |    100           |                0 | FOR         | 100                                      | FOR                         |  |
| CONSTELLATION SOFTWARE INC.              | 21037X100 | 05/13/2025     | An advisory vote to accept the Corporation's approach to executive compensation as more particularly described in the accompanying management information circular.                                                                           | SECTION 14A SAY-ON-PAY VOTES |  70831           |                0 | FOR         | 70831                                    | FOR                         |  |
| COPART, INC.                             | 217204106 | 12/06/2024     | To approve, on an advisory (non-binding) basis, the compensation of our named executive officers for the fiscal year ended July 31, 2024.                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |  27484           |                0 | FOR         | 27484                                    | FOR                         |  |
| DOLLARAMA INC.                           | 25675T107 | 06/11/2025     | Adoption of an advisory non-binding resolution in respect of the Corporation's approach to executive compensation, as more particularly described in the management proxy circular.                                                           | SECTION 14A SAY-ON-PAY VOTES | 788754           |                0 | FOR         | 788754                                   | FOR                         |  |
| DREAM FINDERS HOMES, INC.                | 26154D100 | 06/09/2025     | Approval of an advisory resolution approving executive compensation for fiscal year 2024.                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |  32202           |                0 | FOR         | 32202                                    | FOR                         |  |
| EDWARDS LIFESCIENCES CORPORATION         | 28176E108 | 05/08/2025     | Advisory Vote to Approve Named Executive Officer Compensation                                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |    249           |                0 | FOR         | 249                                      | FOR                         |  |
| ENDEAVOUR MINING PLC                     | G3042J105 | 05/22/2025     | To approve the Directors' Remuneration Report set out on pages 125 to 151 of the 2024 Annual Report.                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |     56           |                0 | FOR         | 56                                       | FOR                         |  |
| FASTENAL COMPANY                         | 311900104 | 04/24/2025     | Approval, by non-binding vote, of executive compensation.                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |    800           |                0 | FOR         | 800                                      | FOR                         |  |
| FISERV, INC.                             | 337738108 | 05/14/2025     | To approve, on an advisory basis, the compensation of the named executive officers of Fiserv, Inc.                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES | 468063           |                0 | FOR         | 468063                                   | FOR                         |  |
| FIVE BELOW, INC.                         | 33829M101 | 06/12/2025     | To approve, by non-binding advisory vote, the Company's Named Executive Officer compensation.                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES | 511245           |                0 | FOR         | 511245                                   | FOR                         |  |
| FIVE BELOW, INC.                         | 33829M101 | 06/12/2025     | Non-binding advisory vote on whether the frequency of the shareholder vote on our executive compensation should be every 1, 2 or 3 years.                                                                                                     | SECTION 14A SAY-ON-PAY VOTES | 511245           |                0 | 1 YEAR      | 511245                                   | FOR                         |  |
| FLOOR  DECOR HOLDINGS, INC.              | 339750101 | 05/07/2025     | Approve, by non-binding vote, the compensation paid to the Company's named executive officers for the 2024 fiscal year.                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES | 191729           |                0 | FOR         | 191729                                   | FOR                         |  |
| HEICO CORPORATION                        | 422806208 | 03/14/2025     | ADVISORY APPROVAL OF THE COMPANY'S EXECUTIVE COMPENSATION.                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES | 520600           |                0 | FOR         | 520600                                   | FOR                         |  |
| HOWDEN JOINERY GROUP PLC                 | G4647J102 | 05/01/2025     | TO APPROVE THE DIRECTORS REMUNERATION REPORT AS SET OUT IN THE 2024 ANNUAL REPORT AND ACCOUNTS                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES | 116406           |                0 | FOR         | 116406                                   | FOR                         |  |
| INSTALLED BUILDING PRODUCTS, INC.        | 45780R101 | 05/20/2025     | Approval, on an advisory basis, of the compensation of our named executive officers.                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES | 335112           |                0 | FOR         | 335112                                   | FOR                         |  |
| INTERCONTINENTAL EXCHANGE, INC.          | 45866F104 | 05/16/2025     | To approve, by non-binding vote, the advisory resolution on executive compensation for named executive officers.                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |     83           |                0 | FOR         | 83                                       | FOR                         |  |
| INTUITIVE SURGICAL, INC.                 | 46120E602 | 05/01/2025     | To approve, by advisory vote, the compensation of the Company's Named Executive Officers.                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |    405           |                0 | FOR         | 405                                      | FOR                         |  |
| JPMORGAN CHASE  CO.                      | 46625H100 | 05/20/2025     | Advisory resolution to approve executive compensation                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |    409           |                0 | FOR         | 409                                      | FOR                         |  |
| KEYSIGHT TECHNOLOGIES, INC.              | 49338L103 | 03/20/2025     | Approve, on a non-binding advisory basis, the compensation of Keysight's Named Executive Officers.                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES | 267613           |                0 | FOR         | 267613                                   | FOR                         |  |
| KINSALE CAPITAL GROUP, INC.              | 49714P108 | 05/22/2025     | Advisory vote to approve executive compensation                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES | 106330           |                0 | FOR         | 106330                                   | FOR                         |  |
| KNIGHT-SWIFT TRANSPORTATION HOLDINGS INC | 499049104 | 05/13/2025     | Conduct an advisory, non-binding vote to approve named executive officer compensation.                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |     24           |                0 | FOR         | 24                                       | FOR                         |  |
| LITTELFUSE, INC.                         | 537008104 | 04/24/2025     | Approve, on an advisory basis, the compensation of the Company's named executive officers.                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |  66708           |                0 | FOR         | 66708                                    | FOR                         |  |
| LULULEMON ATHLETICA INC.                 | 550021109 | 06/11/2025     | To approve, on an advisory basis, the compensation of the Company's named executive officers.                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES | 120184           |                0 | FOR         | 120184                                   | FOR                         |  |
| M BANK CORPORATION                       | 55261F104 | 04/15/2025     | TO APPROVE THE 2024 COMPENSATION OF M BANK CORPORATION'S NAMED EXECUTIVE OFFICERS.                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES | 248860           |                0 | FOR         | 248860                                   | FOR                         |  |
| MARKEL GROUP INC.                        | 570535104 | 05/21/2025     | Advisory vote on approval of executive compensation.                                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |  35605           |                0 | FOR         | 35605                                    | FOR                         |  |
| MASTERCARD INCORPORATED                  | 57636Q104 | 06/24/2025     | Advisory approval of Mastercard's executive compensation                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |   1599           |                0 | FOR         | 1599                                     | FOR                         |  |
| MEDPACE HOLDINGS, INC.                   | 58506Q109 | 05/16/2025     | To approve, on an advisory basis, the compensation of our named executive officers as disclosed in the proxy statement for the 2025 Annual Meeting.                                                                                           | SECTION 14A SAY-ON-PAY VOTES | 158496           |                0 | FOR         | 158496                                   | FOR                         |  |
| META PLATFORMS, INC.                     | 30303M102 | 05/28/2025     | To approve, on a non-binding advisory basis, the compensation program for Meta Platforms, Inc.'s named executive officers as disclosed in Meta Platforms, Inc.'s proxy statement.                                                             | SECTION 14A SAY-ON-PAY VOTES | 219720           |                0 | FOR         | 219720                                   | FOR                         |  |
| META PLATFORMS, INC.                     | 30303M102 | 05/28/2025     | To vote, on a non-binding advisory basis, whether a non-binding advisory vote on the compensation program for Meta Platforms, Inc.'s named executive officers should be held every one, two or three years.                                   | SECTION 14A SAY-ON-PAY VOTES | 219720           |                0 | 1 YEAR      | 219720                                   | AGAINST                     |  |
| MICROSOFT CORPORATION                    | 594918104 | 12/10/2024     | Advisory Vote to Approve Named Executive Officer Compensation ("say-on-pay vote").                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |    607           |                0 | FOR         | 607                                      | FOR                         |  |
| MONSTER BEVERAGE CORPORATION             | 61174X109 | 06/12/2025     | Proposal to approve, on a non-binding, advisory basis, the compensation of the Company's named executive officers.                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |     40           |                0 | FOR         | 40                                       | FOR                         |  |
| MTY FOOD GROUP INC.                      | 55378N107 | 05/02/2025     | On an advisory basis, to accept the Board's approach to executive compensation disclosed in the Information Circular.                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES | 642247           |                0 | FOR         | 642247                                   | FOR                         |  |
| NATIONAL BANK OF CANADA                  | 633067103 | 04/24/2025     | Advisory resolution to accept the approach taken by the Bank's Board of Directors with respect to executive compensation. The text of the resolution is set out in Section 1 of the Management Proxy Circular.                                | SECTION 14A SAY-ON-PAY VOTES |    101           |                0 | FOR         | 101                                      | FOR                         |  |
| NVR, INC.                                | 62944T105 | 05/06/2025     | Advisory vote to approve compensation paid to certain executive officers.                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |  10943           |                0 | FOR         | 10943                                    | FOR                         |  |
| OLD DOMINION FREIGHT LINE, INC.          | 679580100 | 05/21/2025     | Approval, on an advisory basis, of the compensation of the Company's named executive officers.                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |   5255           |                0 | FOR         | 5255                                     | FOR                         |  |
| ORACLE CORPORATION                       | 68389X105 | 11/14/2024     | Advisory Vote to Approve the Compensation of our Named Executive Officers.                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |    550           |                0 | FOR         | 550                                      | FOR                         |  |
| PAYCOM SOFTWARE, INC.                    | 70432V102 | 05/05/2025     | Advisory approval of the compensation of the Company's named executive officers.                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |    210           |                0 | FOR         | 210                                      | FOR                         |  |
| PIERIDAE ENERGY LIMITED                  | 720786102 | 05/08/2025     | To accept the Corporation's approach to executive compensation, as discussed in the Management Information Circular.                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |    577           |                0 | FOR         | 577                                      | FOR                         |  |
| POWER CORPORATION OF CANADA              | 739239101 | 05/14/2025     | Non-binding Advisory Resolution on the Corporation's Approach to Executive Compensation.                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |    400           |                0 | FOR         | 400                                      | FOR                         |  |
| PRECISION DRILLING CORPORATION           | 74022D407 | 05/15/2025     | Accepting the Corporation's approach to executive compensation disclosed in the accompanying information circular on an advisory basis ('say on pay').                                                                                        | SECTION 14A SAY-ON-PAY VOTES |     15           |                0 | FOR         | 15                                       | FOR                         |  |
| RESMED INC.                              | 761152107 | 11/20/2024     | Approve, on an advisory basis, the compensation paid to our named executive officers, as disclosed in the proxy statement ("say-on-pay").                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |    437           |                0 | FOR         | 437                                      | FOR                         |  |
| ROSS STORES, INC.                        | 778296103 | 05/21/2025     | Advisory vote to approve the resolution on the compensation of the named executive officers.                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |     53           |                0 | FOR         | 53                                       | FOR                         |  |
| SITEONE LANDSCAPE SUPPLY, INC.           | 82982L103 | 05/14/2025     | Advisory vote to approve executive compensation.                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |   3753           |                0 | FOR         | 3753                                     | FOR                         |  |
| SS TECHNOLOGIES HOLDINGS, INC.           | 78467J100 | 05/21/2025     | To approve, on an advisory basis, the compensation of SS's named executive officers.                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |    939           |                0 | FOR         | 939                                      | FOR                         |  |
| STARBUCKS CORPORATION                    | 855244109 | 03/12/2025     | Approve, on an advisory, nonbinding basis, the compensation of our named executive officers.                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES | 616402           |                0 | FOR         | 616402                                   | FOR                         |  |
| THE CHARLES SCHWAB CORPORATION           | 808513105 | 05/22/2025     | Advisory approval of named executive officer compensation                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES | 503835           |                0 | FOR         | 503835                                   | FOR                         |  |
| THE PROGRESSIVE CORPORATION              | 743315103 | 05/09/2025     | Cast an advisory vote to approve our executive compensation program.                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES | 335362           |                0 | FOR         | 335362                                   | FOR                         |  |
| THE WALT DISNEY COMPANY                  | 254687106 | 03/20/2025     | Consideration of an advisory vote to approve executive compensation.                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES | 201965           |                0 | FOR         | 201965                                   | FOR                         |  |
| TMX GROUP LIMITED                        | 87262K105 | 05/06/2025     | Approval on an advisory basis of the approach to our executive compensation which is described under the heading "Vote on our approach to executive compensation" on page 9 of our Management Information Circular.                           | SECTION 14A SAY-ON-PAY VOTES |    200           |                0 | FOR         | 200                                      | FOR                         |  |
| UNITEDHEALTH GROUP INCORPORATED          | 91324P102 | 06/02/2025     | Advisory approval of the Company's executive compensation.                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |      6           |                0 | FOR         | 6                                        | FOR                         |  |
| VERMILION ENERGY INC.(THE "CORPORATION") | 923725105 | 05/07/2025     | Advisory resolution to accept the approach to executive compensation disclosed in the Information Circular.                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |    103           |                0 | FOR         | 103                                      | FOR                         |  |
| VISA INC.                                | 92826C839 | 01/28/2025     | To approve, on an advisory basis, the compensation paid to our named executive officers.                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES | 321069           |                0 | FOR         | 321069                                   | FOR                         |  |
| WALMART INC.                             | 931142103 | 06/05/2025     | Advisory Vote to Approve Named Executive Officer Compensation                                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |    135           |                0 | FOR         | 135                                      | FOR                         |  |
| WELLS FARGO  COMPANY                     | 949746101 | 04/29/2025     | Advisory vote to approve executive compensation (Say on Pay).                                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |     25           |                0 | FOR         | 25                                       | FOR                         |  |
| WSP GLOBAL INC.                          | 92938W202 | 05/08/2025     | Consider a non-binding advisory resolution on the Corporation's approach to executive compensation.                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |    597           |                0 | FOR         | 597                                      | FOR                         |  |
| YUM CHINA HOLDINGS, INC.                 | 98850P109 | 05/23/2025     | Advisory Vote to Approve Executive Compensation                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |  36036           |                0 | FOR         | 36036                                    | FOR                         |  |

## N-PX: Signature Block

**Reporting Person:** Giverny Capital Inc.

**By (Signature):** Francois Campeau

**By (Printed Signature):** Francois Campeau

**By (Title):** Chief Compliance Officer

**Date:** 08/19/2025