AdvisorCensus / Financial advisors / Giverny Capital
Giverny Capital
Filed as GIVERNY CAPITAL · Legal name Giverny Capital Inc.
Giverny Capital is an SEC-registered investment advisory firm in Montreal, Canada, registered since 2004, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated June 12, 2026.
Quick answers
From the filingHow is Giverny Capital compensated?
On its Form ADV (Item 5.E, October 2026), Giverny Capital reports these compensation arrangements: a percentage of assets under its management.
Where is Giverny Capital located?
Giverny Capital's principal office is in Montreal, Canada, according to its Form ADV.
Is Giverny Capital registered with the SEC or a state?
Giverny Capital is an SEC-registered investment advisory firm, registered since 2004. Status as filed: Approved. CRD 130640.
How much does Giverny Capital manage?
Giverny Capital reports $2,703,277,172 in regulatory assets under management in its Form ADV filing dated June 12, 2026 (100% discretionary).
How have Giverny Capital's assets and staff changed since 2021?
In the Form ADV data for Giverny Capital: Regulatory assets under management: $1,063,765,143 in the October 2021 data and $2,703,277,172 in the October 2026 data, up 154%. Total employees: 16 in October 2021 and 31 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does Giverny Capital serve?
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (4,037); corporations or other businesses not listed above (626); high net worth individuals (371).
Which custodians does Giverny Capital use?
Giverny Capital's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists National Bank Independent Network (Nbin) as a custodian holding 10% or more of its separately managed account assets.
Does Giverny Capital report any disciplinary disclosures?
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/130640
Does Giverny Capital state an account minimum?
Its Form ADV Part 2A brochure dated June 12, 2026 says: "Giverny does not impose a strict per client minimum for investment management services but does have the discretion to do so if the initial account value is deemed too small to cover expenses related to the management of the account."
What changed in Giverny Capital's recent Form ADV filings?
In the July 2026 filing data: Updated its list of owners and control persons (Schedule A).
From the Form ADV filing
Every figure below is as the firm filed it with regulators, as of October 2026.
How the firm is compensated
Item 5.E- A percentage of assets under your management
Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ
Fees and minimums
Form ADV Part 2AAccount minimum: None (the brochure says it may be waived or negotiated)
The brochure's wording
Giverny does not impose a strict per client minimum for investment management services but does have the discretion to do so if the initial account value is deemed too small to cover expenses related to the management of the account.
As stated in the firm's Form ADV Part 2A brochure dated June 12, 2026. Fees can differ by service and may be negotiable; the brochure is the complete statement. Read the brochure on the SEC's IAPD site
Regulatory assets under management
Item 5.F$2,703,277,172 as of October 2026, filing dated June 12, 2026.
A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means
Who the firm serves
Item 5.DA firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.
Advisory services
Item 5.G- Portfolio management for individuals and/or small businesses
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
Registration and firm details
Items 1, 2, 5- Legal name
- Giverny Capital Inc.
- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2004 (22 years)
- Employees
- Total: 31. Performing investment advisory functions: 6.
- Wrap fee program participation
- No.
- Custodians (Schedule D, Section 5.K(3))
-
Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.
- States registered or notice-filed
-
3 states or jurisdictions
SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration
Disclosures
Item 11None Reports no disclosure items on Form ADV Item 11. View on IAPD.
Item 11 asks about criminal, regulatory, and civil events involving the firm and its advisory personnel. The detail of each yes answer is on the IAPD record. Reading a firm's disclosures
Assets and staff over time
Items 5.A, 5.F| Data period | Assets under management | Employees | Filing dated |
|---|---|---|---|
| October 2026 | $2,703,277,172 | 31 | June 12, 2026 |
| October 2025 | $2,465,103,235 | 26 | December 24, 2024 |
| October 2024 | $1,760,715,644 | 24 | December 22, 2023 |
| October 2023 | $1,383,242,545 | 22 | June 29, 2023 |
| October 2022 | $1,590,295,908 | 21 | December 24, 2021 |
| October 2021 | $1,063,765,143 | 16 | December 24, 2020 |
Regulatory assets under management: $1,063,765,143 in the October 2021 data and $2,703,277,172 in the October 2026 data, up 154%.
Total employees: 16 in October 2021 and 31 in October 2026.
As filed in each year's data for the same month. Assets under management move with markets as well as with clients coming and going; they measure scale, not skill or returns. Most firms update these figures once a year.
Changes in the filing
Last 12 months- July 2026
- Updated its list of owners and control persons (Schedule A).
- January 2026
- Employees performing advisory functions went from 5 to 6.
- Updated its list of owners and control persons (Schedule A).
Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.
Websites listed on Form ADV
Item 1.ISource: Form ADV, as of October 2026. Values appear as filed; a value the firm did not report is shown as "Not reported."
Cite this page
AdvisorCensus. Giverny Capital (CRD 130640): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/giverny-capital-montreal-130640