Lafayette Investments, Inc.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 4, 2026), Lafayette Investments, Inc. reported 156 stock positions worth $529.1 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 11.3% of the portfolio, followed by Markel (MKL, 8.3%) and KLA (KLAC, 4.4%). Compared with Q3 2025, it opened 6 new positions, sold out of 6, added to 49 and reduced 65. The biggest buy was Markel (MKL, shares +1%) and the biggest sale AutoZone (AZO, shares −5%).

Most Recent 13F
Q2 2026
Location
ASHTON, MD
CIK
0001308377
Portfolio Value
$529.1M (Q4 2025)
SEC Filing
0001308377-26-000001 ↗ filed Feb 4, 2026

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 Q3 2025 Q4 2025: $529.1M $529.1M Q4 2025 Q1 2026: $493.9M Q1 2026 Q2 2026: $542.4M Q2 2026

Holdings 156 stocks · $529.1M
BRK.B Berkshire Hathaway Inc. Class B 11.29% 118,839 $59.7M Add +0.8%
MKL Markel Group Inc. 8.29% 20,393 $43.8M Add +1.1%
KLAC KLA Corp. 4.36% 18,975 $23.1M Reduce -5.7%
GOOG Alphabet Inc. Class C 4.23% 71,329 $22.4M Reduce -2.7%
PGR Progressive Corp. 3.82% 88,867 $20.2M Add +0.2%
META Meta Platforms Inc. Class A 3.60% 28,860 $19.1M Add +1.2%
MSFT Microsoft Corp. 3.34% 36,579 $17.7M Add +0.4%
AAPL Apple Inc. 2.99% 58,155 $15.8M Reduce -0.2%
B Barrick Mining Corp. 2.70% 328,535 $14.3M Reduce -0.5%
LOW Lowe's Cos Inc. 2.01% 44,008 $10.6M Reduce -2.5%
PAYX Paychex Inc. 1.90% 89,445 $10.0M Add +0.6%
NSC Norfolk Southern Corp. 1.82% 33,429 $9.7M Reduce -0.1%
SCHW Schwab (charles) Corp. 1.81% 95,684 $9.6M Reduce -0.3%
AZO AutoZone Inc. 1.76% 2,739 $9.3M Reduce -4.5%
JNJ Johnson & Johnson 1.75% 44,680 $9.2M Reduce -0.9%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 1.65% 85,220 $8.7M Reduce -0.8%
JEF Jefferies Financial Group Inc. 1.61% 137,585 $8.5M Reduce -0.3%
L Loews Corp. 1.45% 72,923 $7.7M Reduce -0.6%
PEP Pepsico Inc. 1.27% 46,932 $6.7M Reduce -2.6%
LMT Lockheed Martin Corp. 1.24% 13,588 $6.6M Reduce -0.5%
GPC Genuine Parts Co. 1.07% 46,209 $5.7M Reduce -2.4%
SBUX Starbucks Corp. 1.02% 63,850 $5.4M Reduce -0.5%
AMZN Amazon.com Inc. 0.99% 22,627 $5.2M Add +10.6%
PAYC Paycom Software Inc. 0.99% 32,743 $5.2M Add +10.5%
JPM JPMorgan Chase & Co. 0.97% 15,889 $5.1M Reduce -0.8%
XOM Exxon Mobil Corp. 0.93% 41,101 $4.9M Reduce -0.6%
PH Parker Hannifin Corp. 0.92% 5,564 $4.9M Reduce -10.2%
GHC Graham Holdings Co. Class B 0.89% 4,290 $4.7M Reduce -1.3%
LII Lennox International Inc. 0.85% 9,247 $4.5M Reduce -1.3%
KO The Coca-Cola Co. 0.84% 63,589 $4.4M Add +0.0%
ACN Accenture PLC Class A 0.80% 15,838 $4.2M Add +2.3%
COST Costco Wholesale Corp. 0.80% 4,892 $4.2M Reduce -19.4%
CHKP Check Point Software Tech 0.78% 22,128 $4.1M Reduce -0.3%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.75% 34,751 $4.0M Reduce -0.6%
ALLE Allegion PLC 0.72% 24,088 $3.8M Reduce -15.9%
ESAB Esab Corp. 0.72% 34,266 $3.8M Add +0.5%
PYPL PayPal Holdings Inc. 0.71% 64,588 $3.8M Add +2.1%
MRSH Marsh & McLennan Cos 0.68% 19,347 $3.6M Reduce -0.7%
NVO Novo-Nordisk A/S-Spons ADR 0.66% 69,138 $3.5M Add +0.4%
MSGS Madison Square Garden Sports 0.66% 13,489 $3.5M Add +0.1%
ANET Arista Networks Inc. 0.66% 26,621 $3.5M Reduce -10.5%
GLW Corning Inc. 0.63% 37,871 $3.3M Reduce -7.1%
AOS Smith (a.o.) Corp. 0.61% 47,991 $3.2M Reduce -6.9%
DEO Diageo PLC-Sponsored ADR 0.60% 36,527 $3.2M Reduce -35.2%
V Visa Inc. Class A 0.58% 8,684 $3.0M Add +0.8%
TXN Texas Instruments Inc. 0.56% 16,996 $2.9M Reduce -2.9%
AKRE Akre Focus ETF filed as PROFESIONALLY MANAGED PORTFO 0.55% 44,588 $2.9M New
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.52% 50,445 $2.8M Reduce -7.1%
NKE Nike Inc. Class B 0.52% 43,411 $2.8M Reduce -5.0%
CMG Chipotle Mexican Grill Inc. 0.52% 74,370 $2.8M New
MHK Mohawk Industries Inc. 0.51% 24,806 $2.7M Reduce -1.3%
ASML ASML Holding NV-NY Reg SHS 0.50% 2,475 $2.6M Add +3.1%
WAT Waters Corp. 0.49% 6,759 $2.6M Reduce -6.9%
AON Aon PLC Class A 0.44% 6,670 $2.4M Add +0.4%
ADBE Adobe Inc. 0.43% 6,481 $2.3M Add +10.0%
HAS Hasbro Inc. 0.41% 26,574 $2.2M Reduce -1.2%
AVGO Broadcom Inc. 0.41% 6,274 $2.2M Add +5.0%
CVX Chevron Corp. 0.37% 12,676 $1.9M No change
DHR Danaher Corp. 0.33% 7,728 $1.8M Reduce -6.1%
MCD McDonald's Corp. 0.33% 5,660 $1.7M Reduce -4.9%
BF.B Brown-Forman Corp. Class B 0.31% 62,437 $1.6M Add +688.1%
HSY The Hershey Co. 0.28% 8,251 $1.5M Reduce -5.0%
CTSH Cognizant Tech Solutions-A 0.26% 16,499 $1.4M Reduce -2.5%
BKNG Booking Holdings Inc. 0.26% 254 $1.4M Add +6.3%
OTIS Otis Worldwide Corp. 0.26% 15,472 $1.4M Reduce -8.8%
FDS Factset Research Systems Inc. 0.25% 4,475 $1.3M Add +38.1%
NVDA Nvidia Corp. 0.24% 6,933 $1.3M Add +4.7%
WFC Wells Fargo & Co. 0.24% 13,690 $1.3M Reduce -6.4%
SEIC Sei Investments Company 0.24% 15,271 $1.3M Reduce -0.0%
CRWD CrowdStrike Holdings Inc. Class A 0.23% 2,575 $1.2M Add +13.2%
GOOGL Alphabet Inc. Class A 0.22% 3,790 $1.2M No change
GSK GSK PLC-Spon ADR 0.22% 23,300 $1.1M No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.22% 3,842 $1.1M No change
MRK Merck & Co. Inc. 0.19% 9,686 $1.0M Reduce -0.5%
SPY SS SPDR S&P 500 ETF Trust-US 0.19% 1,489 $1.0M Reduce -0.7%
CAT Caterpillar Inc. 0.19% 1,736 $994K No change
ULTA Ulta Beauty Inc. 0.18% 1,572 $951K Reduce -11.5%
RTX RTX Corp. 0.17% 4,933 $905K No change
RSP Invesco S&P 500 Equal Weight 0.17% 4,571 $876K Add +19.3%
VZ Verizon Communications Inc. 0.16% 21,361 $870K Add +21.4%
UBER Uber Technologies Inc. 0.16% 10,335 $844K Add +14.7%
GLD SPDR Gold Shares 0.16% 2,091 $829K Reduce -0.1%
PANW Palo Alto Networks Inc. 0.15% 4,282 $789K Add +19.5%
ETN Eaton Corp. PLC 0.15% 2,455 $782K No change
VTI VG Morningstar TS MKT ETF-US 0.15% 2,320 $778K Add +13.2%
BRK.A Berkshire Hathaway Inc. Class A 0.14% 1 $755K No change
ADP Automatic Data Processing 0.14% 2,894 $744K Reduce -24.2%
ABNB Airbnb Inc. Class A 0.13% 5,216 $708K Add +34.3%
HON Honeywell International Inc. 0.13% 3,440 $671K No change
TT Trane Technologies PLC 0.13% 1,722 $670K No change
FNDX Schwab Fndmntl US LRG Co. ETF 0.12% 23,747 $646K No change
COF Capital One Financial Corp. 0.12% 2,642 $640K No change
WHR Whirlpool Corp. 0.12% 8,548 $617K Reduce -2.8%
GD General Dynamics Corp. 0.12% 1,817 $612K Reduce -7.7%
SPGI S&P Global Inc. 0.11% 1,115 $583K Add +19.8%
ZTS Zoetis Inc. 0.11% 4,580 $576K Add +18.0%
VIGI Vanguard Int Div App Indx FD 0.10% 6,013 $550K Add +4.0%
FNV Franco-Nevada Corp. 0.10% 2,612 $541K Add +3.9%
MO Altria Group Inc. 0.10% 9,188 $530K No change
PFE Pfizer Inc. 0.10% 20,187 $503K Reduce -0.8%
SLB SLB Ltd. filed as SLB LIMITED 0.09% 13,000 $499K Reduce -18.8%
CRM Salesforce Inc. 0.09% 1,878 $498K Add +13.1%
QCOM Qualcomm Inc. 0.09% 2,894 $495K Add +3.6%
ALRS Alerus Financial Corp. 0.09% 21,900 $493K Add +9.0%
TMO Thermo Fisher Scientific Inc. 0.09% 835 $484K Reduce -10.7%
FDX FedEx Corp. 0.09% 1,619 $468K No change
INTU Intuit Inc. 0.09% 698 $462K Add +27.1%
DUK Duke Energy Corp. 0.09% 3,914 $459K No change
SCHX Schwab US Large-Cap ETF 0.09% 16,847 $453K No change
DPZ Domino's Pizza Inc. 0.08% 1,036 $432K Add +8.5%
MTD Mettler-Toledo International 0.08% 308 $429K Reduce -3.1%
VEA Vanguard Ftse Developed ETF 0.08% 6,480 $405K New
VOO Vanguard S&P 500 ETF 0.07% 630 $395K No change
VLTO Veralto Corp. 0.07% 3,900 $389K Reduce -1.0%
FNDA Schwab Fndmntl US SM Co. ETF 0.07% 12,326 $388K No change
ABBV Abbvie Inc. 0.07% 1,691 $386K Reduce -12.9%
MAR Marriott International Class A 0.07% 1,234 $383K Reduce -33.3%
T AT&T Inc. 0.07% 14,816 $368K Add +28.1%
AXP American Express Co. 0.07% 974 $360K Reduce -6.7%
MA Mastercard Inc. Class A 0.07% 628 $359K Add +8.1%
NFLX Netflix Inc. 0.07% 3,781 $355K Add +37.5%
ALL Allstate Corp. 0.07% 1,685 $351K No change
EGBN Eagle Bancorp Inc. 0.06% 16,000 $343K No change
VTS Vitesse Energy Inc. 0.06% 17,513 $337K Reduce -0.8%
MS Morgan Stanley 0.06% 1,847 $328K New
AUB Atlantic Union Bankshares Co. 0.06% 9,145 $323K Add +28.9%
ABT Abbott Laboratories 0.06% 2,571 $322K Reduce -16.3%
SPG Simon Property Group Inc. 0.06% 1,725 $319K Reduce -14.8%
WELL Welltower Inc. 0.06% 1,699 $315K No change
UNH Unitedhealth Group Inc. 0.06% 918 $303K No change
SHEL Shell PLC-ADR 0.06% 4,103 $301K No change
LULU Lululemon Athletica Inc. 0.06% 1,428 $297K Add +3.8%
HLN Haleon PLC-ADR 0.06% 29,104 $294K No change
GM General Motors Co. 0.05% 3,507 $285K Reduce -12.5%
TFC Truist Financial Corp. 0.05% 5,727 $282K No change
WMT Walmart Inc. 0.05% 2,494 $278K New
FAST Fastenal Co. 0.05% 6,904 $277K No change
SCHA Schwab US Small-Cap ETF 0.05% 9,588 $273K No change
FTNT Fortinet Inc. 0.05% 3,401 $270K Add +42.7%
UL Unilever PLC-Sponsored ADR 0.05% 4,016 $263K No change
CSCO Cisco Systems Inc. 0.05% 3,387 $261K No change
MSCI MSCI Inc. 0.05% 445 $255K Add +11.3%
LLY Eli Lilly & Co. 0.05% 237 $255K New
KMI Kinder Morgan Inc. 0.05% 8,980 $247K No change
AVB Avalonbay Communities Inc. 0.05% 1,350 $245K No change
HD Home Depot Inc. 0.05% 709 $244K Add +0.1%
EFA iShares MSCI Eafe ETF 0.04% 2,392 $230K Add +0.0%
FNDF Schwab Fndmn Intl LRG Co. ETF 0.04% 5,076 $229K No change
PG The Procter & Gamble Co. 0.04% 1,519 $218K Reduce -33.0%
FRT Federal Realty Invs Trust 0.04% 2,150 $217K No change
ORCL Oracle Corp. 0.04% 1,100 $214K Reduce -21.4%
BLK BlackRock Inc. 0.04% 199 $213K No change
PM Philip Morris International 0.04% 1,324 $212K Reduce -3.6%
FVCB Fvcbankcorp Inc. 0.03% 12,206 $170K No change
RANI Rani Therapeutics Holdings Class A 0.01% 22,979 $31K Add +15.5%
LCTX Lineage Cell Therapeutics Inc. 0.00% 13,000 $22K No change

Portfolio Sells Q3 2025 → Q4 2025
AZO AutoZone Inc. Reduce -4.5% 1.76% −0.60
DEO Diageo PLC-Sponsored ADR Reduce -35.2% 0.60% −0.43
COST Costco Wholesale Corp. Reduce -19.4% 0.80% −0.28
ALLE Allegion PLC Reduce -15.9% 0.72% −0.25
GPC Genuine Parts Co. Reduce -2.4% 1.07% −0.18
ANET Arista Networks Inc. Reduce -10.5% 0.66% −0.17
LOW Lowe's Cos Inc. Reduce -2.5% 2.01% −0.17
JEF Jefferies Financial Group Inc. Reduce -0.3% 1.61% −0.12
AOS Smith (a.o.) Corp. Reduce -6.9% 0.61% −0.12
MHK Mohawk Industries Inc. Reduce -1.3% 0.51% −0.11
CHKP Check Point Software Tech Reduce -0.3% 0.78% −0.10
NSC Norfolk Southern Corp. Reduce -0.1% 1.82% −0.10
LII Lennox International Inc. Reduce -1.3% 0.85% −0.10
GHC Graham Holdings Co. Class B Reduce -1.3% 0.89% −0.09
NKE Nike Inc. Class B Reduce -5.0% 0.52% −0.09
ADP Automatic Data Processing Reduce -24.2% 0.14% −0.07
MRSH Marsh & McLennan Cos Reduce -0.7% 0.68% −0.07
AXON Axon Enterprise Inc. Sold out 0.00% −0.07
LMT Lockheed Martin Corp. Reduce -0.5% 1.24% −0.06
TXN Texas Instruments Inc. Reduce -2.9% 0.56% −0.06
PLTR Palantir Technologies Inc. Class A Sold out 0.00% −0.05
OTIS Otis Worldwide Corp. Reduce -8.8% 0.26% −0.04
EMR Emerson Electric Co. Sold out 0.00% −0.04
TROW T Rowe Price Group Inc. Reduce -0.8% 1.65% −0.04
FISV Fiserv Inc. Sold out 0.00% −0.04
CG The Carlyle Group Inc. Sold out 0.00% −0.04
D Dominion Energy Inc. Sold out 0.00% −0.04
ORCL Oracle Corp. Reduce -21.4% 0.04% −0.03
HSY The Hershey Co. Reduce -5.0% 0.28% −0.03
PG The Procter & Gamble Co. Reduce -33.0% 0.04% −0.03
SBUX Starbucks Corp. Reduce -0.5% 1.02% −0.02
PEP Pepsico Inc. Reduce -2.6% 1.27% −0.02
MAR Marriott International Class A Reduce -33.3% 0.07% −0.02
DIS The Walt Disney Co. Reduce -0.6% 0.75% −0.02
MCD McDonald's Corp. Reduce -4.9% 0.33% −0.02
ABT Abbott Laboratories Reduce -16.3% 0.06% −0.02
WHR Whirlpool Corp. Reduce -2.8% 0.12% −0.02
VTS Vitesse Energy Inc. Reduce -0.8% 0.06% −0.01
GLW Corning Inc. Reduce -7.1% 0.63% −0.01
ABBV Abbvie Inc. Reduce -12.9% 0.07% −0.01
GD General Dynamics Corp. Reduce -7.7% 0.12% −0.01
SPG Simon Property Group Inc. Reduce -14.8% 0.06% −0.01
BAC Bank of America Corp. Reduce -7.1% 0.52% −0.01
SEIC Sei Investments Company Reduce -0.0% 0.24% −0.01
SLB SLB Ltd. Reduce -18.8% 0.09% −0.01
VLTO Veralto Corp. Reduce -1.0% 0.07% −0.01
ULTA Ulta Beauty Inc. Reduce -11.5% 0.18% −0.01
PFE Pfizer Inc. Reduce -0.8% 0.10% −0.00
PM Philip Morris International Reduce -3.6% 0.04% −0.00
JPM JPMorgan Chase & Co. Reduce -0.8% 0.97% +0.00

Portfolio Buys Q3 2025 → Q4 2025
MKL Markel Group Inc. Add +1.1% 8.29% +0.90
AKRE Akre Focus ETF New 0.55% +0.55
CMG Chipotle Mexican Grill Inc. New 0.52% +0.52
BF.B Brown-Forman Corp. Class B Add +688.1% 0.31% +0.27
AMZN Amazon.com Inc. Add +10.6% 0.99% +0.13
VEA Vanguard Ftse Developed ETF New 0.08% +0.08
MSGS Madison Square Garden Sports Add +0.1% 0.66% +0.07
ACN Accenture PLC Class A Add +2.3% 0.80% +0.07
FDS Factset Research Systems Inc. Add +38.1% 0.25% +0.07
MS Morgan Stanley New 0.06% +0.06
ASML ASML Holding NV-NY Reg SHS Add +3.1% 0.50% +0.06
WMT Walmart Inc. New 0.05% +0.05
LLY Eli Lilly & Co. New 0.05% +0.05
ABNB Airbnb Inc. Class A Add +34.3% 0.13% +0.04
AVGO Broadcom Inc. Add +5.0% 0.41% +0.03
KO The Coca-Cola Co. Add +0.0% 0.84% +0.03
ADBE Adobe Inc. Add +10.0% 0.43% +0.03
RSP Invesco S&P 500 Equal Weight Add +19.3% 0.17% +0.03
SPGI S&P Global Inc. Add +19.8% 0.11% +0.02
CRM Salesforce Inc. Add +13.1% 0.09% +0.02
VTI VG Morningstar TS MKT ETF-US Add +13.2% 0.15% +0.02
VZ Verizon Communications Inc. Add +21.4% 0.16% +0.02
INTU Intuit Inc. Add +27.1% 0.09% +0.02
CRWD CrowdStrike Holdings Inc. Class A Add +13.2% 0.23% +0.01
AUB Atlantic Union Bankshares Co. Add +28.9% 0.06% +0.01
FTNT Fortinet Inc. Add +42.7% 0.05% +0.01
V Visa Inc. Class A Add +0.8% 0.58% +0.01
BKNG Booking Holdings Inc. Add +6.3% 0.26% +0.01
PANW Palo Alto Networks Inc. Add +19.5% 0.15% +0.01
LULU Lululemon Athletica Inc. Add +3.8% 0.06% +0.01
ALRS Alerus Financial Corp. Add +9.0% 0.09% +0.01
NVDA Nvidia Corp. Add +4.7% 0.24% +0.01
T AT&T Inc. Add +28.1% 0.07% +0.01
MSCI MSCI Inc. Add +11.3% 0.05% +0.00
VIGI Vanguard Int Div App Indx FD Add +4.0% 0.10% +0.00
MA Mastercard Inc. Class A Add +8.1% 0.07% +0.00
QCOM Qualcomm Inc. Add +3.6% 0.09% +0.00
RANI Rani Therapeutics Holdings Class A Add +15.5% 0.01% +0.00
NFLX Netflix Inc. Add +37.5% 0.07% +0.00
DPZ Domino's Pizza Inc. Add +8.5% 0.08% +0.00
EFA iShares MSCI Eafe ETF Add +0.0% 0.04% +0.00
ZTS Zoetis Inc. Add +18.0% 0.11% +0.00
FNV Franco-Nevada Corp. Add +3.9% 0.10% −0.01
ESAB Esab Corp. Add +0.5% 0.72% −0.01
HD Home Depot Inc. Add +0.1% 0.05% −0.01
AON Aon PLC Class A Add +0.4% 0.44% −0.01
UBER Uber Technologies Inc. Add +14.7% 0.16% −0.01
BRK.B Berkshire Hathaway Inc. Class B Add +0.8% 11.29% −0.06
NVO Novo-Nordisk A/S-Spons ADR Add +0.4% 0.66% −0.07
PYPL PayPal Holdings Inc. Add +2.1% 0.71% −0.10

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