What did Francois Rochon actually do?

A source-backed history of material decisions from Giverny Capital. We preserve the sequence and observed outcomes instead of compressing judgment into a guru grade.

Material decisions: 13
Stocks observed: 9
Outcomes observed: 13

Each outcome preserves the stock’s post-disclosure excess return over the fixed observation window. The evidence stays decision-level; it is not rolled into a manager score.

Observed decisions and outcomes

Q2 2026
filed Aug 26, 2026
57d lag
BRK/BTRIM-34.4%
Francois Rochon · 6.6% of reported portfolio
Original SEC filing ↗
-0.3% vs SPY
26 sessions after disclosure
direction supported so far
Q2 2026
filed Aug 26, 2026
57d lag
ADITRIM-45.5%
Francois Rochon · 2.0% of reported portfolio
Original SEC filing ↗
+11.7% vs SPY
26 sessions after disclosure
direction not supported so far
Q2 2026
filed Aug 26, 2026
57d lag
AXPNEWNEW
Francois Rochon · 0.5% of reported portfolio
Original SEC filing ↗
-9.4% vs SPY
26 sessions after disclosure
direction not supported so far
Q1 2026
filed May 15, 2026
45d lag
BRK/BTRIM-25.2%
Francois Rochon · 8.5% of reported portfolio
Original SEC filing ↗
-2.9% vs SPY
63 sessions after disclosure
direction supported so far
Q4 2025
filed Feb 13, 2026
44d lag
TSMTRIM-96.5%
Francois Rochon · 3.9% of reported portfolio
Original SEC filing ↗
+2.8% vs SPY
63 sessions after disclosure
direction not supported so far
Q4 2025
filed Feb 13, 2026
44d lag
FISVEXITEXIT
Francois Rochon · 2.6% of reported portfolio
Original SEC filing ↗
-21.3% vs SPY
63 sessions after disclosure
direction supported so far
Q4 2025
filed Feb 13, 2026
44d lag
DISADD+109.1%
Francois Rochon · 2.1% of reported portfolio
Original SEC filing ↗
-11.1% vs SPY
63 sessions after disclosure
direction not supported so far
Q3 2025
filed Nov 17, 2025
48d lag
TSMADD+3870.6%
Francois Rochon · 3.9% of reported portfolio
Original SEC filing ↗
+26.0% vs SPY
63 sessions after disclosure
direction supported so far
Q3 2025
filed Nov 17, 2025
48d lag
BACEXITEXIT
Francois Rochon · 1.6% of reported portfolio
Original SEC filing ↗
-1.3% vs SPY
63 sessions after disclosure
direction supported so far
Q2 2025
filed Aug 13, 2025
44d lag
SCHWADD+65.2%
Francois Rochon · 4.9% of reported portfolio
Original SEC filing ↗
-7.9% vs SPY
63 sessions after disclosure
direction not supported so far
Q2 2025
filed Aug 13, 2025
44d lag
GOOGLADD+48.3%
Francois Rochon · 2.3% of reported portfolio
Original SEC filing ↗
+37.5% vs SPY
63 sessions after disclosure
direction supported so far
Q4 2024
filed Aug 12, 2025
224d lag
FISVADD+25.7%
Francois Rochon · 4.7% of reported portfolio
Original SEC filing ↗
-58.5% vs SPY
63 sessions after disclosure
direction not supported so far
Q4 2024
filed Aug 12, 2025
224d lag
GOOGLTRIM-26.0%
Francois Rochon · 2.2% of reported portfolio
Original SEC filing ↗
+37.8% vs SPY
63 sessions after disclosure
direction not supported so far

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The evidence is limited to selected widely owned U.S.-listed securities in Form 13F filings. Filing dates can trail quarter end by up to 45 days in the normal reporting cycle, and the filings do not disclose transaction dates, prices, or intent.