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Giverny Capital Inc. Francois Rochon

Montreal, A8 30 processed 13Fs on this site, 2021 Q3 to 2026 Q2

  • $3B
  • 51 holdings
  • 2026 Q2
  • +8.9% QoQ
  • Top 5 29.4%

Francois Rochon's biggest moves in 2026 Q2 were opening New York Times and MSA Safety, adding to Automatic Data Processing and ResMed, trimming Berkshire Hathaway and Keysight Technologies, and selling out of M&T Bank and RSP.

Portfolio

2026 Q2, filed 8/14/2026, top 12 of 51 holdings

Top 5 29.4%, top 10 51.5%

  1. GOOG, Alphabet Class C 7.2%
  2. HEI, Heico 6.4%
  3. META, Meta Platforms 5.7%
  4. SCHW, Charles Schwab 5.2%
  5. ADP, Automatic Data Processing 4.9%
  6. AME, Ametek 4.9%
  7. MEDP, Medpace 4.5%
  8. V, Visa 4.5%
  9. BRK.B, Berkshire Hathaway Class B 4.2%
  10. PGR, Progressive 4.0%
  11. GOOGL, Alphabet Class A 3.7%
  12. FIVE, Five Below 3.6%
  13. Other 41.2%

AUM over time

2026 Q2 $3B +8.9% QoQ
2021 Q3: $1.7B 2021 Q3: $1.7B
Q3 2021
2021 Q4: $1.9B, +10.6% QoQ 2021 Q4: $1.9B, +10.6% QoQ
Q4
2022 Q1: $1.8B, −5.5% QoQ 2022 Q1: $1.8B, −5.5% QoQ
Q1 2022
2022 Q2: $1.5B, −14.3% QoQ 2022 Q2: $1.5B, −14.3% QoQ
Q2
2022 Q3: $1.5B, −2.8% QoQ 2022 Q3: $1.5B, −2.8% QoQ
Q3
2022 Q4: $1.6B, +9.6% QoQ 2022 Q4: $1.6B, +9.6% QoQ
Q4
2023 Q1: $1.7B, +2.6% QoQ 2023 Q1: $1.7B, +2.6% QoQ
Q1 2023
2023 Q2: $1.9B, +14.5% QoQ 2023 Q2: $1.9B, +14.5% QoQ
Q2
2023 Q3: $1.8B, −3.2% QoQ 2023 Q3: $1.8B, −3.2% QoQ
Q3
2023 Q4: $2.1B, +15.6% QoQ 2023 Q4: $2.1B, +15.6% QoQ
Q4
2024 Q1: $2.5B, +15.6% QoQ 2024 Q1: $2.5B, +15.6% QoQ
Q1 2024
2024 Q2: $2.4B, −3.7% QoQ 2024 Q2: $2.4B, −3.7% QoQ
Q2
2024 Q3: $2.6B, +11.1% QoQ 2024 Q3: $2.6B, +11.1% QoQ
Q3
2024 Q4: $2.7B, +4.0% QoQ 2024 Q4: $2.7B, +4.0% QoQ
Q4
2025 Q1: $2.7B, −0.8% QoQ 2025 Q1: $2.7B, −0.8% QoQ
Q1 2025
2025 Q2: $2.9B, +7.5% QoQ 2025 Q2: $2.9B, +7.5% QoQ
Q2
2025 Q3: $3.3B, +11.8% QoQ 2025 Q3: $3.3B, +11.8% QoQ
Q3
2025 Q4: $3B, −8.1% QoQ 2025 Q4: $3B, −8.1% QoQ
Q4
2026 Q1: $2.7B, −8.9% QoQ 2026 Q1: $2.7B, −8.9% QoQ
Q1 2026
2026 Q2: $3B, +8.9% QoQ 2026 Q2: $3B, +8.9% QoQ
Q2

Latest book

2026 Q2 2026 Q1, filed 14 Aug, long equity only

Download CSV Download Excel All activity
GOOG, Alphabet Class C 7.19% Reduce −2.5% 605,460 $353.33 $214M −15,449 +$36M
HEI, Heico 6.38% Reduce −0.4% 735,248 $257.91 $190M −3,234 +$34M
META, Meta Platforms 5.74%, was 6.45% Reduce −1.6% 302,888 $563.29 $171M −4,933 −$5.5M
SCHW, Charles Schwab 5.22% Add +9.5% 1,681,567 $92.27 $155M +145,361 +$11M
ADP, Automatic Data Processing 4.93%, was 3.12% Add +56.2% 654,556 $223.95 $147M +235,466 +$61M
AME, Ametek 4.87% Reduce −2.2% 598,781 $241.94 $145M −13,277 +$14M
MEDP, Medpace 4.52% Reduce −0.8% 253,931 $529.59 $134M −2,150 +$12M
V, Visa 4.50% Reduce −1.6% 389,900 $343.09 $134M −6,457 +$14M
BRK.B, Berkshire Hathaway Class B 4.18%, was 6.64% Reduce −34.4% 248,447 $500.39 $124M −130,178 −$57M
PGR, Progressive 3.98%, was 3.83% Add +2.6% 542,292 $218.45 $118M +13,928 +$14M
GOOGL, Alphabet Class A 3.73% Reduce −11.0% 310,118 $357.37 $111M −38,351 +$11M
FIVE, Five Below 3.62%, was 5.16% Reduce −3.1% 598,122 $179.79 $108M −19,069 −$33M
BKNG, Booking Holdings 3.13% Add +2375.1% 522,664 $178.24 $93M +501,547 +$4.3M
IBP, Installed Building Products 3.07%, was 3.92% Reduce −1.5% 397,662 $229.84 $91M −6,003 −$16M
NVR 3.03%, was 3.29% Reduce −3.0% 13,238 $6,813 $90M −409 +$264K
KNSL, Kinsale Capital Group In 2.67% Add +10.0% 240,731 $329.81 $79M +21,789 +$4.6M
BFAM 2.58%, was 2.23% Add +45.6% 1,080,793 $70.88 $77M +338,464 +$16M
RMD, ResMed 2.54%, was 1.89% Add +68.5% 387,665 $194.88 $76M +157,660 +$24M
OZK, Bank Ozk Little Rock Ark 2.10% Reduce −2.7% 1,198,116 $52.09 $62M −32,943 +$5.9M
MKL, Markel Group 2.03%, was 3.01% Reduce −28.1% 30,877 $1,953 $60M −12,067 −$22M
ANET, Arista Networks 1.94% Reduce −19.7% 339,892 $169.88 $58M −83,469 +$5.8M
KEYS, Keysight Technologies 1.68%, was 3.34% Reduce −55.7% 143,072 $350.07 $50M −180,112 −$41M
DIS, Disney 1.67%, was 1.89% Reduce −3.9% 515,567 $96.25 $50M −20,947 −$2.1M
BRO, Brown & Brown 1.62%, was 1.80% Reduce −0.3% 753,288 $64.15 $48M −1,981 −$928K
ADI, Analog Devices 1.25%, was 1.99% Reduce −45.4% 93,310 $397.17 $37M −77,742 −$17M
NYT, New York Times 1.14% New 484,424 $69.98 $34M +484,424 +$34M
LFUS, Littelfuse 1.13% Reduce −8.2% 74,125 $455.33 $34M −6,594 +$6.4M
MSA, MSA Safety 0.98% New 166,305 $174.58 $29M +166,305 +$29M
WSO, Watsco 0.92% New 65,975 $416.73 $27M +65,975 +$27M
AAON 0.87%, was 0.61% Add +1.5% 204,779 $126.86 $26M +2,947 +$9.3M
GLD, SPDR Gold Shares 0.84% Hold 3,876 $6,459 $25M — —
URI, Sunbelt Rentals 0.73% Reduce −9.0% 246,369 $87.65 $22M −24,474 +$4M
VEEV, Veeva Systems 0.57% New 94,956 $177.47 $17M +94,956 +$17M
AXP, American Express 0.53% New 46,702 $337.33 $16M +46,702 +$16M
TWFG 0.53%, was 0.37% Add +18.2% 652,452 $24.05 $16M +100,345 +$5.5M
JPM, JPMorgan Chase 0.53%, was 0.56% Reduce −8.5% 47,876 $327.33 $16M −4,422 +$287K
MA, Mastercard 0.50% Add +2.7% 28,816 $513.60 $15M +750 +$776K
LULU, Lululemon 0.49%, was 0.80% Reduce −9.7% 128,803 $114.18 $15M −13,797 −$7.1M
FND, Floor & Decor 0.46% Reduce −0.8% 229,867 $59.36 $14M −1,962 +$1.9M
HWKN, Hawkins 0.45% New 94,954 $142.10 $13M +94,954 +$13M
FERG, Ferguson 0.30% Add +1.8% 37,380 $237.33 $8.9M +652 +$304K
BLDR, Builders FirstSource 0.28% Reduce −0.4% 91,464 $89.48 $8.2M −349 +$625K
BRK.A, Berkshire Hathaway Class A 0.23%, was 0.29% Reduce −18.2% 9 $748,850 $6.7M −2 −$1.2M
AAPL, Apple 0.13%, was 0.14% Reduce −13.6% 12,995 $289.36 $3.8M −2,045 −$57K
TSM, Taiwan Semiconductor 0.06%, was 0.10% Reduce −55.0% 3,655 $477.57 $1.7M −4,470 −$1M
SPY, SPDR S&P 500 ETF Trust 0.06% Reduce −7.3% 2,294 $746.77 $1.7M −180 +$104K
YUMC, Yum China 0.05% Hold 36,036 $40.87 $1.5M — —
ITB, iShares Trust 0.04% Add +7.4% 11,662 $104.48 $1.2M +808 +$236K
MSFT, Microsoft 0.02%, was 0.03% Reduce −6.4% 1,787 $373.02 $667K −123 −$40K
QQQ, Invesco QQQ Trust 0.01% New 391 $736.40 $288K +391 +$288K

Showing top 50 of 51 by value

Exits / last held

Gone since 2026 Q1, shown at their last reported size.

Stock % of portfolio Recent activity Shares Reported price* Value Share change $ change
MTB, M&T Bank 0.06% Exit 0 $206.77 $1.6M −7,535 −$1.6M
RSP 0.04% Exit 0 $191.97 $1.2M −6,105 −$1.2M
IVZ, Invesco 0.04% Exit 0 $237.57 $1M −4,222 −$1M
BIRK, Birkenstock 0.04% Exit 0 $35.81 $981K −27,392 −$981K
ODFL, Old Dominion Freight Line 0.04% Exit 0 $195.37 $978K −5,006 −$978K
SITE, Siteone Landscape Supply 0.02% Exit 0 $133.23 $500K −3,753 −$500K
NVO, Novo Nordisk 0.02% Exit 0 $36.77 $456K −12,400 −$456K

Weight bar: held both quarters added sold at this quarter’s reported price

* Reported price is value ÷ shares from the 13F as of period end, not a live market quote. Weight % is each long-equity position ÷ full 13F AUM, so rows may not sum to 100% when the filing includes options or other non-equity (excluded from this table). Share change and $ change are vs 2026 Q1. Click a column header to sort, or New, Hold, Add or Reduce to bring those moves to the top. Exit opens the last-held block below.

Filings history

20 periods, with AUM normalized

Newest 13Fs
Period Holds AUM QoQ Form Filed Filing ID
empty — — 13F-HR/A 8/26/2026 000164186426000010
2026 Q2 51 $3B +8.9% 13F-HR 8/14/2026 000164186426000005
2026 Q1 51 $2.7B −8.9% 13F-HR 5/15/2026 000164186426000004
2025 Q4 50 $3B −8.1% 13F-HR 2/13/2026 000164186426000002
2025 Q3 52 $3B — RESTATEMENT 11/17/2025 000164186425000012
2025 Q3 52 $3.3B +11.8% 13F-HR 11/14/2025 000164186425000010
2025 Q3 52 $3.1B — RESTATEMENT 11/14/2025 000164186425000011
2025 Q2 55 $2.9B +7.5% 13F-HR 8/13/2025 000164186425000007
2025 Q1 54 $2.7B — RESTATEMENT 8/12/2025 000164186425000006
2025 Q1 54 $2.7B −0.8% 13F-HR 5/13/2025 000164186425000003
2024 Q4 62 $2.7B — RESTATEMENT 8/12/2025 000164186425000005
2024 Q4 62 $2.7B +4.0% 13F-HR 2/13/2025 000164186425000002
2024 Q3 52 $2.6B +11.1% 13F-HR 11/13/2024 000164186424000012
2024 Q2 50 $2.4B −3.7% 13F-HR 8/14/2024 000164186424000006
2024 Q1 2 $3.9B — new holds 8/20/2024 000164186424000008
2024 Q1 51 $2.5B +15.6% 13F-HR 5/13/2024 000164186424000005
2023 Q4 1 $1.1B — new holds 8/23/2024 000164186424000011
2023 Q4 58 $2.1B +15.6% 13F-HR 2/9/2024 000164186424000003
2023 Q3 59 $1.8B — RESTATEMENT 1/25/2024 000164186424000002
2023 Q3 57 $1.8B −3.2% 13F-HR 11/13/2023 000164186423000007
2023 Q2 59 $1.9B +14.5% 13F-HR 8/7/2023 000164186423000005
2023 Q1 60 $1.7B +2.6% 13F-HR 5/12/2023 000164186423000003
2022 Q4 66 $1.6B — RESTATEMENT 5/17/2023 000164186423000004
2022 Q4 66 $1.6B +9.6% 13F-HR 2/10/2023 000164186423000002
2022 Q3 63 $1.5B −2.8% 13F-HR 11/14/2022 000164186422000006
2022 Q2 63 $1.5B −14.3% 13F-HR 8/12/2022 000164186422000005
2022 Q1 63 $1.8B −5.5% 13F-HR 5/12/2022 000164186422000004
2021 Q4 64 $1.9B +10.6% 13F-HR 2/11/2022 000164186422000002
2021 Q3 59 $1.7B — new holds 11/15/2021 000164186421000008
2021 Q3 58 $1.7B — 13F-HR 11/12/2021 000164186421000006

About

Giverny Capital Inc.

30 processed 13Fs on this site, 2021 Q3 to 2026 Q2

Notable person
Francois Rochon
SEC filing name
Giverny Capital Inc.
Location
Montreal, A8
All SEC filings
View on sec.gov