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 Medpace Holdings, Inc. (NASDAQ:MEDP). Medpace Holdings, Inc. (NASDAQ:MEDP) is a clinical research-based drug and medical device development services provider. The one-month return of Medpace Holdings, Inc. (NASDAQ:MEDP) was -8.89%, and its shares gained 60.60% of their value over the last 52 weeks. On December 08, 2025, Medpace Holdings, Inc. (NASDAQ:MEDP) stock closed at $549.17 per share, with a market capitalization of $15.47billion.
Giverny Capital Asset Management stated the following regarding Medpace Holdings, Inc. (NASDAQ:MEDP) in its third quarter 2025 investor letter:
“I’ll give an example of why I am happy to be invested alongside these types of managers. Last year, we acquired shares in Medpace Holdings, Inc. (NASDAQ:MEDP) at about $381. Our partners in Montreal owned Medpace and knew it well, and the more John Bleday and I studied the business, the more impressed we were. Medpace is a contract research organization that does clinical trials for early stage biopharmaceutical companies. These are often start-ups with a promising drug compound that need help conducting trials on hundreds of patients to demonstrate efficacy.
