Courant Investment Management LLC

CIK

1695426

Location

FRANKLIN, TN

Portfolio Value

Small $102,405,946

Diversification

Moderately concentrated

Filing Date

Global Rank

#5,661 / 8,607 ▲ 8 · as of Mar 2026

Top Industry

Insurance - Property & Casualty 25.1%

3Y Alpha vs SPY

-5.3%

Period ended 3 months ago

Filed Apr 20, 2026 · 3mo

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+54.0%

SPY

+75.5%

Annualised alpha

-5.2%

Max drawdown

−14.9%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

7 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

22.5%

−1.9 pts

Top 5

82.2%

−6.9 pts

Top 10

100.0%

0.0 pts

HHI

1,619

Moderately concentrated−235

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	67.0%	$68,661,253	4
Consumer Cyclical	22.6%	$23,142,693	2
Unclassified	10.4%	$10,602,000	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

No qualifying positions this quarter.

Trimmed

Positions the filer reduced

2 positions

Ticker	Company	Δ Shares	Shares	Value
JPM	Jpmorgan Chase & Co	−13,000	70,697	$20,796,229
ULTA	Ulta Beauty, Inc.	−1,500	21,673	$11,328,693
No positions match the current search.

New Positions

Positions the filer opened this quarter

1 positions

Ticker	Company	Shares	Value	Open
BRO	Brown & Brown, Inc.	116,397	$7,590,248
No positions match the current search.

Sold Out

Positions the filer fully exited

No qualifying positions this quarter.

Portfolio Positions

Compact Export CSV View 13F filing

7 positions · $102,405,946 total · as of Mar 31, 2026

All sectors Consumer Cyclical Financial Services

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
PGR	Progressive Corp/Oh/ Financial Services	Held	116,170	0	$23,029,540	−12.9%	22.49%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	70,697	-13,000	$20,796,229	−22.9%	20.31%
SCHW	Schwab Charles Corp Financial Services	Held	183,499	0	$17,245,236	−5.9%	16.84%
LOW	Lowes Companies Inc Consumer Cyclical	Held	50,000	0	$11,814,000	−2.0%	11.54%
ULTA	Ulta Beauty, Inc. Consumer Cyclical	Reduced	21,673	-1,500	$11,328,693	−19.2%	11.06%
FISV	Fiserv Inc	Held	190,000	0	$10,602,000	−16.9%	10.35%
BRO	Brown & Brown, Inc. Financial Services	NEW	116,397	NEW	$7,590,248	NEW	7.41%