Lafayette Investments, Inc.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 6, 2025), Lafayette Investments, Inc. reported 156 stock positions worth $522.2 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 11.3% of the portfolio, followed by Markel (MKL, 7.4%) and Progressive (PGR, 4.2%). Compared with Q2 2025, it opened 7 new positions, sold out of 2, added to 46 and reduced 61. The biggest buy was Alphabet Class C (GOOG, shares +0%) and the biggest sale Markel (MKL, shares −0%).

Most Recent 13F
Q2 2026
Location
ASHTON, MD
CIK
0001308377
Portfolio Value
$522.2M (Q3 2025)
SEC Filing
0001308377-25-000008 ↗ filed Nov 6, 2025

Holdings Value

0$200.0M$400.0M$600.0M Q1 2024: $445.1M Q1 2024 Q2 2024: $439.8M Q2 2024 Q3 2024: $474.3M Q3 2024 Q4 2024: $466.6M Q4 2024 Q1 2025: $472.8M Q1 2025 Q2 2025: $494.8M Q2 2025 Q3 2025: $522.2M $522.2M Q3 2025 Q4 2025: $529.1M Q4 2025 Q1 2026: $493.9M Q1 2026 Q2 2026: $542.4M Q2 2026

Holdings 156 stocks · $522.2M
BRK.B Berkshire Hathaway Inc. Class B 11.35% 117,876 $59.3M Reduce -0.1%
MKL Markel Group Inc. 7.38% 20,175 $38.6M Reduce -0.1%
PGR Progressive Corp. 4.20% 88,724 $21.9M Reduce -0.5%
KLAC KLA Corp. 4.15% 20,113 $21.7M Add +0.4%
META Meta Platforms Inc. Class A 4.01% 28,521 $20.9M Add +1.3%
MSFT Microsoft Corp. 3.61% 36,437 $18.9M Add +1.0%
GOOG Alphabet Inc. Class C 3.42% 73,331 $17.9M Add +0.1%
AAPL Apple Inc. 2.84% 58,295 $14.8M Reduce -0.1%
AZO AutoZone Inc. 2.36% 2,868 $12.3M Reduce -9.1%
LOW Lowe's Cos Inc. 2.17% 45,143 $11.3M Reduce -0.6%
PAYX Paychex Inc. 2.16% 88,897 $11.3M Add +0.9%
B Barrick Mining Corp. 2.07% 330,301 $10.8M Reduce -0.1%
NSC Norfolk Southern Corp. 1.93% 33,470 $10.1M Reduce -0.1%
SCHW Schwab (charles) Corp. 1.75% 95,948 $9.2M Reduce -0.9%
JEF Jefferies Financial Group Inc. 1.73% 138,052 $9.0M Reduce -0.6%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 1.69% 85,941 $8.8M Reduce -0.3%
JNJ Johnson & Johnson 1.60% 45,093 $8.4M Reduce -5.5%
L Loews Corp. 1.41% 73,323 $7.4M Reduce -0.1%
LMT Lockheed Martin Corp. 1.31% 13,662 $6.8M Reduce -2.0%
PEP Pepsico Inc. 1.30% 48,183 $6.8M Reduce -0.9%
GPC Genuine Parts Co. 1.26% 47,324 $6.6M Reduce -0.3%
PAYC Paycom Software Inc. 1.18% 29,633 $6.2M Add +2.7%
COST Costco Wholesale Corp. 1.08% 6,068 $5.6M Add +3.4%
SBUX Starbucks Corp. 1.04% 64,138 $5.4M Reduce -1.1%
DEO Diageo PLC-Sponsored ADR 1.03% 56,382 $5.4M Reduce -1.0%
GHC Graham Holdings Co. Class B 0.98% 4,348 $5.1M Reduce -0.1%
ALLE Allegion PLC 0.97% 28,650 $5.1M Reduce -2.8%
JPM JPMorgan Chase & Co. 0.97% 16,009 $5.0M Reduce -0.2%
LII Lennox International Inc. 0.95% 9,370 $5.0M Reduce -0.2%
PH Parker Hannifin Corp. 0.90% 6,199 $4.7M Reduce -0.2%
XOM Exxon Mobil Corp. 0.89% 41,360 $4.7M Reduce -0.5%
CHKP Check Point Software Tech 0.88% 22,203 $4.6M Reduce -1.5%
AMZN Amazon.com Inc. 0.86% 20,462 $4.5M Add +2.7%
ANET Arista Networks Inc. 0.83% 29,752 $4.3M No change
PYPL PayPal Holdings Inc. 0.81% 63,278 $4.2M Add +4.9%
KO The Coca-Cola Co. 0.81% 63,580 $4.2M Reduce -1.4%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.77% 34,966 $4.0M No change
MRSH Marsh & McLennan Cos 0.75% 19,476 $3.9M Reduce -0.8%
NVO Novo-Nordisk A/S-Spons ADR 0.73% 68,845 $3.8M Add +44.2%
ACN Accenture PLC Class A 0.73% 15,480 $3.8M Add +7.1%
ESAB Esab Corp. 0.73% 34,105 $3.8M Reduce -0.5%
AOS Smith (a.o.) Corp. 0.72% 51,548 $3.8M Reduce -0.7%
GLW Corning Inc. 0.64% 40,780 $3.3M Reduce -37.5%
MHK Mohawk Industries Inc. 0.62% 25,141 $3.2M Reduce -0.3%
TXN Texas Instruments Inc. 0.62% 17,497 $3.2M Reduce -1.2%
NKE Nike Inc. Class B 0.61% 45,670 $3.2M Add +1.2%
MSGS Madison Square Garden Sports 0.59% 13,474 $3.1M Reduce -1.1%
V Visa Inc. Class A 0.56% 8,617 $2.9M Add +5.3%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.54% 54,277 $2.8M Add +0.1%
AON Aon PLC Class A 0.45% 6,645 $2.4M Add +0.2%
ASML ASML Holding NV-NY Reg SHS 0.44% 2,400 $2.3M Add +63.3%
WAT Waters Corp. 0.42% 7,263 $2.2M Reduce -7.4%
ADBE Adobe Inc. 0.40% 5,894 $2.1M Add +12.7%
HAS Hasbro Inc. 0.39% 26,886 $2.0M Reduce -3.7%
AVGO Broadcom Inc. 0.38% 5,974 $2.0M Reduce -0.9%
CVX Chevron Corp. 0.38% 12,676 $2.0M Add +0.1%
MCD McDonald's Corp. 0.35% 5,951 $1.8M Reduce -4.6%
DHR Danaher Corp. 0.31% 8,228 $1.6M Reduce -2.8%
HSY The Hershey Co. 0.31% 8,688 $1.6M Reduce -0.7%
OTIS Otis Worldwide Corp. 0.30% 16,974 $1.6M Add +27.7%
SEIC Sei Investments Company 0.25% 15,274 $1.3M No change
BKNG Booking Holdings Inc. 0.25% 239 $1.3M Reduce -0.4%
NVDA Nvidia Corp. 0.24% 6,623 $1.2M Add +2.3%
WFC Wells Fargo & Co. 0.23% 14,625 $1.2M Reduce -1.1%
CTSH Cognizant Tech Solutions-A 0.22% 16,917 $1.1M Add +0.1%
ADP Automatic Data Processing 0.21% 3,816 $1.1M Add +0.7%
CRWD CrowdStrike Holdings Inc. Class A 0.21% 2,275 $1.1M No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.21% 3,842 $1.1M Reduce -0.3%
GSK GSK PLC-Spon ADR 0.19% 23,300 $1.0M No change
SPY SS SPDR S&P 500 ETF Trust-US 0.19% 1,499 $999K No change
ULTA Ulta Beauty Inc. 0.19% 1,777 $972K Reduce -33.3%
FDS Factset Research Systems Inc. 0.18% 3,240 $928K Add +255.7%
GOOGL Alphabet Inc. Class A 0.18% 3,790 $921K Reduce -7.3%
ETN Eaton Corp. PLC 0.18% 2,455 $919K Add +6.7%
UBER Uber Technologies Inc. 0.17% 9,010 $883K Add +2.1%
CAT Caterpillar Inc. 0.16% 1,736 $828K No change
RTX RTX Corp. 0.16% 4,933 $825K No change
MRK Merck & Co. Inc. 0.16% 9,734 $817K Reduce -6.4%
VZ Verizon Communications Inc. 0.15% 17,602 $774K No change
BRK.A Berkshire Hathaway Inc. Class A 0.14% 1 $754K No change
GLD SPDR Gold Shares 0.14% 2,092 $744K Reduce -1.4%
PANW Palo Alto Networks Inc. 0.14% 3,582 $729K Add +30.3%
RSP Invesco S&P 500 Equal Weight 0.14% 3,832 $727K No change
TT Trane Technologies PLC 0.14% 1,722 $727K No change
HON Honeywell International Inc. 0.14% 3,440 $724K Add +4.6%
WHR Whirlpool Corp. 0.13% 8,797 $691K Reduce -0.2%
VTI VG Morningstar TS MKT ETF-US 0.13% 2,049 $672K Add +0.8%
GD General Dynamics Corp. 0.13% 1,968 $671K Reduce -4.8%
FNDX Schwab Fndmntl US LRG Co. ETF 0.12% 23,747 $625K Reduce -0.2%
MO Altria Group Inc. 0.12% 9,188 $607K No change
ZTS Zoetis Inc. 0.11% 3,882 $568K Add +11.8%
COF Capital One Financial Corp. 0.11% 2,642 $562K Add +8.2%
FNV Franco-Nevada Corp. 0.11% 2,515 $561K Add +2.4%
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.11% 16,000 $550K No change
PFE Pfizer Inc. 0.10% 20,352 $519K Reduce -0.7%
VIGI Vanguard Int Div App Indx FD 0.10% 5,780 $518K Add +23.2%
DUK Duke Energy Corp. 0.09% 3,914 $484K Add +0.3%
MAR Marriott International Class A 0.09% 1,851 $482K Add +0.7%
ABNB Airbnb Inc. Class A 0.09% 3,885 $472K Add +68.0%
QCOM Qualcomm Inc. 0.09% 2,794 $465K No change
TMO Thermo Fisher Scientific Inc. 0.09% 935 $453K Add +0.9%
SPGI S&P Global Inc. 0.09% 931 $453K Add +11.2%
ABBV Abbvie Inc. 0.09% 1,941 $449K Reduce -9.3%
ALRS Alerus Financial Corp. 0.09% 20,100 $445K No change
SCHX Schwab US Large-Cap ETF 0.09% 16,847 $444K Reduce -0.5%
VLTO Veralto Corp. 0.08% 3,940 $420K No change
DPZ Domino's Pizza Inc. 0.08% 955 $412K Add +2.8%
ABT Abbott Laboratories 0.08% 3,071 $411K Add +19.4%
VTS Vitesse Energy Inc. 0.08% 17,653 $410K Reduce -3.8%
ORCL Oracle Corp. 0.08% 1,400 $394K Add +9.8%
CRM Salesforce Inc. 0.08% 1,661 $394K New
MTD Mettler-Toledo International 0.07% 318 $390K No change
VOO Vanguard S&P 500 ETF 0.07% 630 $386K No change
FNDA Schwab Fndmntl US SM Co. ETF 0.07% 12,326 $384K Reduce -2.2%
FDX FedEx Corp. 0.07% 1,619 $382K No change
SPG Simon Property Group Inc. 0.07% 2,025 $380K No change
INTU Intuit Inc. 0.07% 549 $375K Add +9.6%
ALL Allstate Corp. 0.07% 1,685 $362K No change
AXON Axon Enterprise Inc. 0.07% 500 $359K No change
PG The Procter & Gamble Co. 0.07% 2,267 $348K Reduce -35.3%
AXP American Express Co. 0.07% 1,044 $347K Reduce -3.4%
FAST Fastenal Co. 0.06% 6,904 $339K No change
MA Mastercard Inc. Class A 0.06% 581 $330K Add +1.0%
NFLX Netflix Inc. 0.06% 275 $330K Add +0.4%
T AT&T Inc. 0.06% 11,570 $327K No change
EGBN Eagle Bancorp Inc. 0.06% 16,000 $324K Reduce -3.0%
UNH Unitedhealth Group Inc. 0.06% 918 $317K No change
WELL Welltower Inc. 0.06% 1,699 $303K No change
SHEL Shell PLC-ADR 0.06% 4,103 $293K No change
HD Home Depot Inc. 0.05% 708 $287K No change
UL Unilever PLC 0.05% 4,520 $268K No change
SCHA Schwab US Small-Cap ETF 0.05% 9,588 $268K Reduce -2.4%
TFC Truist Financial Corp. 0.05% 5,727 $262K No change
HLN Haleon PLC-ADR 0.05% 29,104 $261K No change
AVB Avalonbay Communities Inc. 0.05% 1,350 $261K No change
KMI Kinder Morgan Inc. 0.05% 8,980 $254K No change
AUB Atlantic Union Bankshares Co. 0.05% 7,095 $250K No change
LULU Lululemon Athletica Inc. 0.05% 1,376 $245K Add +16.6%
GM General Motors Co. 0.05% 4,007 $244K New
PLTR Palantir Technologies Inc. Class A 0.05% 1,325 $242K New
BLK BlackRock Inc. 0.04% 199 $232K Add +1.0%
CSCO Cisco Systems Inc. 0.04% 3,387 $232K No change
MSCI MSCI Inc. 0.04% 400 $227K New
EFA iShares MSCI Eafe ETF 0.04% 2,391 $223K No change
PM Philip Morris International 0.04% 1,374 $223K Reduce -1.1%
FNDF Schwab Fndmn Intl LRG Co. ETF 0.04% 5,076 $218K Reduce -1.8%
FRT Federal Realty Invs Trust 0.04% 2,150 $218K No change
EMR Emerson Electric Co. 0.04% 1,639 $215K No change
BF.B Brown-Forman Corp. Class B 0.04% 7,922 $215K Add +1.3%
FISV Fiserv Inc. 0.04% 1,563 $202K Reduce -31.7%
D Dominion Energy Inc. 0.04% 3,281 $201K New
CG The Carlyle Group Inc. 0.04% 3,200 $201K New
FTNT Fortinet Inc. 0.04% 2,383 $200K New
FVCB Fvcbankcorp Inc. 0.03% 12,206 $158K No change
LCTX Lineage Cell Therapeutics Inc. 0.00% 13,000 $22K No change
RANI Rani Therapeutics Holdings Class A 0.00% 19,893 $10K No change

Portfolio Sells Q2 2025 → Q3 2025
MKL Markel Group Inc. Reduce -0.1% 7.38% −0.76
PGR Progressive Corp. Reduce -0.5% 4.20% −0.61
BRK.B Berkshire Hathaway Inc. Class B Reduce -0.1% 11.35% −0.24
SBUX Starbucks Corp. Reduce -1.1% 1.04% −0.16
LII Lennox International Inc. Reduce -0.2% 0.95% −0.14
WAT Waters Corp. Reduce -7.4% 0.42% −0.14
DEO Diageo PLC-Sponsored ADR Reduce -1.0% 1.03% −0.13
CHKP Check Point Software Tech Reduce -1.5% 0.88% −0.13
TXN Texas Instruments Inc. Reduce -1.2% 0.62% −0.13
MRSH Marsh & McLennan Cos Reduce -0.8% 0.75% −0.12
KO The Coca-Cola Co. Reduce -1.4% 0.81% −0.11
ESAB Esab Corp. Reduce -0.5% 0.73% −0.10
INTC Intel Corp. Sold out 0.00% −0.10
ULTA Ulta Beauty Inc. Reduce -33.3% 0.19% −0.07
GLW Corning Inc. Reduce -37.5% 0.64% −0.05
WHR Whirlpool Corp. Reduce -0.2% 0.13% −0.05
LLY Eli Lilly & Co. Sold out 0.00% −0.05
PG The Procter & Gamble Co. Reduce -35.3% 0.07% −0.05
FISV Fiserv Inc. Reduce -31.7% 0.04% −0.04
BKNG Booking Holdings Inc. Reduce -0.4% 0.25% −0.03
SCHW Schwab (charles) Corp. Reduce -0.9% 1.75% −0.03
HAS Hasbro Inc. Reduce -3.7% 0.39% −0.03
DHR Danaher Corp. Reduce -2.8% 0.31% −0.03
MCD McDonald's Corp. Reduce -4.6% 0.35% −0.02
IBM Intl Business Machines Corp. Reduce -0.3% 0.21% −0.02
XOM Exxon Mobil Corp. Reduce -0.5% 0.89% −0.01
AZO AutoZone Inc. Reduce -9.1% 2.36% −0.01
MRK Merck & Co. Inc. Reduce -6.4% 0.16% −0.01
PM Philip Morris International Reduce -1.1% 0.04% −0.01
WFC Wells Fargo & Co. Reduce -1.1% 0.23% −0.00
VTS Vitesse Energy Inc. Reduce -3.8% 0.08% −0.00
AXP American Express Co. Reduce -3.4% 0.07% −0.00
EGBN Eagle Bancorp Inc. Reduce -3.0% 0.06% −0.00
PEP Pepsico Inc. Reduce -0.9% 1.30% −0.00
PFE Pfizer Inc. Reduce -0.7% 0.10% −0.00
FNDF Schwab Fndmn Intl LRG Co. ETF Reduce -1.8% 0.04% −0.00
FNDA Schwab Fndmntl US SM Co. ETF Reduce -2.2% 0.07% +0.00
SCHA Schwab US Small-Cap ETF Reduce -2.4% 0.05% +0.00
LMT Lockheed Martin Corp. Reduce -2.0% 1.31% +0.00
SCHX Schwab US Large-Cap ETF Reduce -0.5% 0.09% +0.00
FNDX Schwab Fndmntl US LRG Co. ETF Reduce -0.2% 0.12% +0.00
ABBV Abbvie Inc. Reduce -9.3% 0.09% +0.01
GD General Dynamics Corp. Reduce -4.8% 0.13% +0.01
TROW T Rowe Price Group Inc. Reduce -0.3% 1.69% +0.01
MSGS Madison Square Garden Sports Reduce -1.1% 0.59% +0.01
GLD SPDR Gold Shares Reduce -1.4% 0.14% +0.01
HSY The Hershey Co. Reduce -0.7% 0.31% +0.02
PH Parker Hannifin Corp. Reduce -0.2% 0.90% +0.02
JPM JPMorgan Chase & Co. Reduce -0.2% 0.97% +0.03
GOOGL Alphabet Inc. Class A Reduce -7.3% 0.18% +0.03

Portfolio Buys Q2 2025 → Q3 2025
GOOG Alphabet Inc. Class C Add +0.1% 3.42% +0.79
KLAC KLA Corp. Add +0.4% 4.15% +0.53
ASML ASML Holding NV-NY Reg SHS Add +63.3% 0.44% +0.21
FDS Factset Research Systems Inc. Add +255.7% 0.18% +0.10
CRM Salesforce Inc. New 0.08% +0.08
NVO Novo-Nordisk A/S-Spons ADR Add +44.2% 0.73% +0.07
GM General Motors Co. New 0.05% +0.05
PLTR Palantir Technologies Inc. Class A New 0.05% +0.05
MSCI MSCI Inc. New 0.04% +0.04
CG The Carlyle Group Inc. New 0.04% +0.04
D Dominion Energy Inc. New 0.04% +0.04
FTNT Fortinet Inc. New 0.04% +0.04
OTIS Otis Worldwide Corp. Add +27.7% 0.30% +0.03
NVDA Nvidia Corp. Add +2.3% 0.24% +0.03
ABNB Airbnb Inc. Class A Add +68.0% 0.09% +0.03
FNV Franco-Nevada Corp. Add +2.4% 0.11% +0.03
PANW Palo Alto Networks Inc. Add +30.3% 0.14% +0.03
ORCL Oracle Corp. Add +9.8% 0.08% +0.02
BAC Bank of America Corp. Add +0.1% 0.54% +0.02
VIGI Vanguard Int Div App Indx FD Add +23.2% 0.10% +0.01
TMO Thermo Fisher Scientific Inc. Add +0.9% 0.09% +0.01
CVX Chevron Corp. Add +0.1% 0.38% +0.01
ETN Eaton Corp. PLC Add +6.7% 0.18% +0.01
ABT Abbott Laboratories Add +19.4% 0.08% +0.01
VTI VG Morningstar TS MKT ETF-US Add +0.8% 0.13% +0.00
BLK BlackRock Inc. Add +1.0% 0.04% +0.00
UBER Uber Technologies Inc. Add +2.1% 0.17% +0.00
COF Capital One Financial Corp. Add +8.2% 0.11% +0.00
DUK Duke Energy Corp. Add +0.3% 0.09% −0.00
ZTS Zoetis Inc. Add +11.8% 0.11% −0.00
BF.B Brown-Forman Corp. Class B Add +1.3% 0.04% −0.00
MA Mastercard Inc. Class A Add +1.0% 0.06% −0.00
SPGI S&P Global Inc. Add +11.2% 0.09% −0.00
DPZ Domino's Pizza Inc. Add +2.8% 0.08% −0.01
INTU Intuit Inc. Add +9.6% 0.07% −0.01
MAR Marriott International Class A Add +0.7% 0.09% −0.01
LULU Lululemon Athletica Inc. Add +16.6% 0.05% −0.01
ADBE Adobe Inc. Add +12.7% 0.40% −0.01
NFLX Netflix Inc. Add +0.4% 0.06% −0.01
MSFT Microsoft Corp. Add +1.0% 3.61% −0.01
HON Honeywell International Inc. Add +4.6% 0.14% −0.02
ADP Automatic Data Processing Add +0.7% 0.21% −0.02
AMZN Amazon.com Inc. Add +2.7% 0.86% −0.02
V Visa Inc. Class A Add +5.3% 0.56% −0.02
AON Aon PLC Class A Add +0.2% 0.45% −0.02
NKE Nike Inc. Class B Add +1.2% 0.61% −0.04
CTSH Cognizant Tech Solutions-A Add +0.1% 0.22% −0.05
PYPL PayPal Holdings Inc. Add +4.9% 0.81% −0.09
COST Costco Wholesale Corp. Add +3.4% 1.08% −0.10
ACN Accenture PLC Class A Add +7.1% 0.73% −0.14

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 162$542.4MBRK.B, KLAC, MKL, GOOG, PGR
Q1 2026 158$493.9MBRK.B, MKL, KLAC, GOOG, PGR
Q4 2025 156$529.1MBRK.B, MKL, KLAC, GOOG, PGR
Q3 2025 156$522.2MBRK.B, MKL, PGR, KLAC, META
Q2 2025 151$494.8MBRK.B, MKL, PGR, META, MSFT
Q1 2025 146$472.8MBRK.B, MKL, PGR, META, MSFT
Q4 2024 149$466.6MBRK.B, MKL, PGR, META, MSFT
Q3 2024Amended 146$474.3MBRK.B, MKL, PGR, META, MSFT
Q2 2024 142$439.8MBRK.B, MKL, PGR, KLAC, MSFT
Q1 2024 141$445.1MBRK.B, MKL, PGR, MSFT, KLAC