Francois Rochon portfolio & holdings
Giverny Capital
Historical clone performance and limitations
Francois Rochon (Giverny Capital) discloses a $2.97B portfolio across 51 US-listed positions in the latest 13F filing (2026Q2, filed Aug 26, 2026). The largest holding is GOOG at 7.2% of the book.
A material reported change · Q2 2026
Francois Rochon reduced reported BRK/B shares by 34.4%.
Holdings as of Jun 30, 2026 · filed Aug 26, 2026. Position at period end: 4.2% of the reported portfolio. The filing does not reveal the trade date, price, or reason.
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Holdings (51) · click any column to sort
| #↑ | Ticker | Issuer | % Port. | This Q | History | Value |
|---|---|---|---|---|---|---|
| 1 | GOOG | 7.2% | $214M | |||
| 2 | HEI/A | 6.4% | $190M | |||
| 3 | META | 5.7% | $171M | |||
| 4 | SCHW | 5.2% | $155M | |||
| 5 | ADP | 4.9% | $147M | |||
| 6 | AME | 4.9% | $145M | |||
| 7 | MEDP | 4.5% | $134M | |||
| 8 | V | 4.5% | $134M | |||
| 9 | BRK/B | 4.2% | $124M | |||
| 10 | PGR | 4.0% | $118M | |||
| 11 | GOOGL | 3.7% | $111M | |||
| 12 | FIVE | 3.6% | $108M | |||
| 13 | BKNG | 3.1% | $93M | |||
| 14 | IBP | 3.1% | $91M | |||
| 15 | NVR | 3.0% | $90M | |||
| 16 | KNSL | 2.7% | $79M | |||
| 17 | BFAM | 2.6% | $77M | |||
| 18 | RMD | 2.5% | $76M | |||
| 19 | OZK | 2.1% | $62M | |||
| 20 | MKL | 2.0% | $60M | |||
| 21 | ANET | 1.9% | $58M | |||
| 22 | KEYS | 1.7% | $50M | |||
| 23 | DIS | 1.7% | $50M | |||
| 24 | BRO | 1.6% | $48M | |||
| 25 | ADI | 1.2% | $37M | |||
| 26 | NYT | 1.1% | $34M | |||
| 27 | LFUS | 1.1% | $34M | |||
| 28 | MSA | 1.0% | $29M | |||
| 29 | WSO | 0.9% | $27M | |||
| 30 | AAON | 0.9% | $26M | |||
| 31 | GLD | 0.8% | $25M | |||
| 32 | SUNB | 0.7% | $22M | |||
| 33 | VEEV | 0.6% | $17M | |||
| 34 | AXP | 0.5% | $16M | |||
| 35 | TWFG | 0.5% | $16M | |||
| 36 | JPM | 0.5% | $16M | |||
| 37 | MA | 0.5% | $15M | |||
| 38 | LULU | 0.5% | $15M | |||
| 39 | FND | 0.5% | $14M | |||
| 40 | HWKN | 0.5% | $13M | |||
| 41 | FERG | 0.3% | $9M | |||
| 42 | BLDR | 0.3% | $8M | |||
| 43 | BRK/A | 0.2% | $7M | |||
| 44 | AAPL | 0.1% | $4M | |||
| 45 | TSM | 0.1% | $2M | |||
| 46 | SPY | 0.1% | $2M | |||
| 47 | YUMC | 0.1% | $1M | |||
| 48 | ITB | <0.1% | $1M | |||
| 49 | MSFT | <0.1% | $667K | |||
| 50 | QQQ | <0.1% | $288K | |||
| 51 | CPRT | <0.1% | $233K |
- 1GOOGport7.2%val$214MAlphabet Inc-cl Cthis Q hold·40q
- port6.4%val$190MHeico Corp-class Athis Q hold·40q
- 3METAport5.7%val$171MMeta Platforms Inc-class Athis Q hold·33q
- 4SCHWport5.2%val$155MSchwab (charles) Corpthis Q hold·32q
- 5ADPport4.9%val$147MAutomatic Data Processingthis Q +56%·2q
- 6AMEport4.9%val$145MAmetek Incthis Q hold·39q
- 7MEDPport4.5%val$134MMedpace Holdings Incthis Q hold·12q
- 8Vport4.5%val$134MVisa Inc-class A Sharesthis Q hold·40q
- port4.2%val$124MBerkshire Hathaway Inc-cl Bthis Q -34%·39q
- 10PGRport4.0%val$118MProgressive Corpthis Q hold·28q
- 11GOOGLport3.7%val$111MAlphabet Inc-cl Athis Q hold·40q
- 12FIVEport3.6%val$108MFive Belowthis Q hold·38q
- 13BKNGport3.1%val$93MBooking Holdings Incthis Q hold·11q
- 14IBPport3.1%val$91MInstalled Building Productsthis Q hold·19q
- 15NVRport3.0%val$90MNvr Incthis Q hold·32q
- 16KNSLport2.7%val$79MKinsale Capital Group Incthis Q hold·12q
- 17BFAMport2.6%val$77MBright Horizons Family Solutthis Q +46%·3q
- 18RMDport2.5%val$76MResmed Incthis Q +69%·14q
- 19OZKport2.1%val$62MBank Ozkthis Q hold·31q
- 20MKLport2.0%val$60MMarkel Group Incthis Q -28%·40q
- 21ANETport1.9%val$58MArista Networks Incthis Q hold·5q
- 22KEYSport1.7%val$50MKeysight Technologies INthis Q -56%·30q
- 23DISport1.7%val$50MWalt Disney Co/thethis Q hold·40q
- 24BROport1.6%val$48MBrown & Brown Incthis Q hold·7q
- 25ADIport1.2%val$37MAnalog Devices Incthis Q -45%·19q
- 26NYTport1.1%val$34MNew York Times Co-athis Q New·—1q
- 27LFUSport1.1%val$34MLittelfuse Incthis Q hold·35q
- 28MSAport1.0%val$29MMsa Safety Incthis Q New·—1q
- 29WSOport0.9%val$27MWatsco Incthis Q New·—1q
- 30AAONport0.9%val$26MAaon Incthis Q hold·2q
- 31GLDport0.8%val$25MSpdr Gold Sharesthis Q hold·19q
- 32SUNBport0.7%val$22MSunbelt Rentals Holdings Incthis Q hold·2q
- 33VEEVport0.6%val$17MVeeva Systems Inc-class Athis Q New·—1q
- 34AXPport0.5%val$16MAmerican Express COthis Q New·—1q
- 35TWFGport0.5%val$16MTwfg Incthis Q hold·5q
- 36JPMport0.5%val$16MJpmorgan Chase & COthis Q hold·40q
- 37MAport0.5%val$15MMastercard Inc - Athis Q hold·40q
- 38LULUport0.5%val$15MLululemon Athletica Incthis Q hold·36q
- 39FNDport0.5%val$14MFloor & Decor Holdings Inc-athis Q hold·17q
- 40HWKNport0.5%val$13MHawkins Incthis Q New·—1q
- 41FERGport0.3%val$9MFerguson Enterprises Incthis Q hold·7q
- 42BLDRport0.3%val$8MBuilders Firstsource Incthis Q hold·6q
- 43BRK/Aport0.2%val$7MBerkshire Hathaway Inc-cl Athis Q hold·36q
- 44AAPLport0.1%val$4MApple Incthis Q hold·32q
- 45TSMport0.1%val$2MTaiwan Semiconductor-sp Adrthis Q -55%·25q
- 46SPYport0.1%val$2MSS Spdr S&p 500 Etf Trust-usthis Q hold·36q
- 47YUMCport0.1%val$1MYum China Holdings Incthis Q hold·8q
- 48ITBport<0.1%val$1MIshares U.s. Home Constructithis Q hold·21q
- 49MSFTport<0.1%val$667KMicrosoft Corpthis Q hold·22q
- 50QQQport<0.1%val$288KInvesco Qqq Trust Series 1this Q New·—1q
- 51CPRTport<0.1%val$233KCopart Incthis Q -70%·17q
2026Q2 moves, by size (23)(expand ↓)
| Ticker | Issuer | Move | % Port. | Δ Shares | Value |
|---|---|---|---|---|---|
| BRK/B | Berkshire Hathaway Inc-cl B | TRIM | 4.2% | -34% | $124M |
| ADP | Automatic Data Processing | ADD | 4.9% | +56% | $147M |
| KEYS | Keysight Technologies IN | TRIM | 1.7% | -56% | $50M |
| MKL | Markel Group Inc | TRIM | 2.0% | -28% | $60M |
| BFAM | Bright Horizons Family Solut | ADD | 2.6% | +46% | $77M |
| RMD | Resmed Inc | ADD | 2.5% | +69% | $76M |
| ADI | Analog Devices Inc | TRIM | 1.2% | -45% | $37M |
| NYT | New York Times Co-a | NEW | 1.1% | +100% | $34M |
| MSA | Msa Safety Inc | NEW | 1.0% | +100% | $29M |
| WSO | Watsco Inc | NEW | 0.9% | +100% | $27M |
| VEEV | Veeva Systems Inc-class A | NEW | 0.6% | +100% | $17M |
| AXP | American Express CO | NEW | 0.5% | +100% | $16M |
| HWKN | Hawkins Inc | NEW | 0.5% | +100% | $13M |
| TSM | Taiwan Semiconductor-sp Adr | TRIM | 0.1% | -55% | $2M |
| MTB | M & T Bank Corp | EXIT | 0.1% | -100% | $0 |
| RSP | Invesco S&p 500 Equal Weight | EXIT | <0.1% | -100% | $0 |
| QQQM | Invesco Nasdaq 100 Etf | EXIT | <0.1% | -100% | $0 |
| ODFL | Old Dominion Freight Line | EXIT | <0.1% | -100% | $0 |
| M2029K104 | Birkenstock Hldg Plc | EXIT | <0.1% | -100% | $0 |
| CPRT | Copart Inc | TRIM | <0.1% | -70% | $233K |
| SITE | Siteone Landscape Supply Inc | EXIT | <0.1% | -100% | $0 |
| NVO | Novo-nordisk A/s-spons Adr | EXIT | <0.1% | -100% | $0 |
| QQQ | Invesco Qqq Trust Series 1 | NEW | <0.1% | +100% | $288K |
- TRIMBRK/B4.2%Berkshire Hathaway Inc-cl BΔ -34%·$124M
- ADDADP4.9%Automatic Data ProcessingΔ +56%·$147M
- TRIMKEYS1.7%Keysight Technologies INΔ -56%·$50M
- TRIMMKL2.0%Markel Group IncΔ -28%·$60M
- ADDBFAM2.6%Bright Horizons Family SolutΔ +46%·$77M
- ADDRMD2.5%Resmed IncΔ +69%·$76M
- TRIMADI1.2%Analog Devices IncΔ -45%·$37M
- NEWNYT1.1%New York Times Co-aΔ +100%·$34M
- NEWMSA1.0%Msa Safety IncΔ +100%·$29M
- NEWWSO0.9%Watsco IncΔ +100%·$27M
- NEWVEEV0.6%Veeva Systems Inc-class AΔ +100%·$17M
- NEWAXP0.5%American Express COΔ +100%·$16M
- NEWHWKN0.5%Hawkins IncΔ +100%·$13M
- TRIMTSM0.1%Taiwan Semiconductor-sp AdrΔ -55%·$2M
- EXITMTB0.1%M & T Bank CorpΔ -100%·$0
- EXITRSP<0.1%Invesco S&p 500 Equal WeightΔ -100%·$0
- EXITQQQM<0.1%Invesco Nasdaq 100 EtfΔ -100%·$0
- EXITODFL<0.1%Old Dominion Freight LineΔ -100%·$0
- EXITM2029K104<0.1%Birkenstock Hldg PlcΔ -100%·$0
- TRIMCPRT<0.1%Copart IncΔ -70%·$233K
- EXITSITE<0.1%Siteone Landscape Supply IncΔ -100%·$0
- EXITNVO<0.1%Novo-nordisk A/s-spons AdrΔ -100%·$0
- NEWQQQ<0.1%Invesco Qqq Trust Series 1Δ +100%·$288K
About Francois Rochon
Francois Rochon founded Montreal-based Giverny Capital in 1993, managing a concentrated equity portfolio that draws explicit intellectual lineage from Buffett and Munger — the fund is named after Monet's garden, a nod to Rochon's view that great businesses, like great art, compound in value over long time horizons. The 13F reflects a genuinely long-only, low-turnover approach: roughly 51 U.S.-listed positions with moderate concentration (top-5 around 31%), anchored in recognizable compounders like BRK/B, GOOG, META, HEI/A, and SCHW. There are no known structural derivatives or short positions to read around — what the filing shows is close to what the fund holds. Rochon publishes an annual letter with candid performance attribution, which is more useful than the 13F alone for understanding his reasoning. The latticework backtest underperforming SPY by roughly nine points annually over eleven years is worth sitting with: quality-tilted, Canada-domiciled, with fees and FX drag that a raw clone cannot replicate.
2026Q2 brief
Francois Rochon's $2.97B Giverny Capital portfolio made its most emphatic statement by adding aggressively to ADP (+56.2% to 4.9%), RMD (+68.6% to 2.5%), and BFAM (+45.6% to 2.6%) — a trio of high-quality, recurring-revenue businesses in payroll processing, sleep medicine, and childcare, consistent with Rochon's long-standing preference for compounders with wide moats and long runways. He trimmed BRK/B 34.4% (to 4.2%) and cut KEYS 55.7% (to 1.7%) and ADI 45.5% (to 1.2%), rotating away from instrumentation and analog semiconductors that may have hit his valuation limits. Six new positions were opened — NYT (1.1%), MSA (1.0%), WSO (0.9%), VEEV (0.6%), AXP (0.5%), and HWKN (0.5%) — a diverse mix of media, safety products, HVAC distribution, and vertical SaaS that suggests continued bottom-up stock picking rather than a macro theme. GOOG (7.2%) and META (5.7%) anchor the book. With MEDP at 4.5% as a CRO name facing biotech funding uncertainty, watch whether Rochon reduces that position next quarter.
AI-generated. Not investment advice.
Filing history
Francois Rochon's disclosed 13F portfolio value and position count by quarter — the trajectory across every SEC filing.
| Quarter | Positions | Portfolio value |
|---|---|---|
| Q2 2026 — what changed → | 51 | $2.97B |
| Q1 2026 — what changed → | 51 | $2.73B |
| Q4 2025 — what changed → | 50 | $3.00B |
| Q3 2025 — what changed → | 52 | $3.26B |
| Q2 2025 — what changed → | 55 | $2.92B |
| Q1 2025 — what changed → | 54 | $2.71B |
| Q4 2024 holdings | 62 | $2.74B |
| Q3 2024 holdings | 52 | $2.63B |
| Q2 2024 holdings | 50 | $2.37B |
| Q1 2024 holdings | 53 | $2.46B |
| Q4 2023 holdings | 59 | $2.13B |
| Q3 2023 holdings | 80 | $2.63B |
Values as disclosed at each quarter end. Older filings on EDGAR.
Manager evidence
13 material decisions, preserved in sequence.
See what Francois Rochon bought, added, trimmed, or exited across eight quarters—plus disclosure lag, SEC sources, and observed outcomes versus SPY. No guru grade.
Open Francois Rochon's decision evidence →Frequently asked questions
- What stocks does Francois Rochon own?
- As of 2026Q2, Francois Rochon's 13F discloses 51 positions worth $2.97B. The top five holdings: GOOG (7.2%), HEI/A (6.4%), META (5.7%), SCHW (5.2%), ADP (4.9%). 13F filings cover long US-listed equities only — cash, bonds, shorts, and non-US positions are not disclosed.
- What did Francois Rochon buy this quarter?
- In 2026Q2, the filing shows 7 new positions and 3 additions to existing holdings. The largest positions touched by buying: ADP, BFAM, RMD, NYT, MSA.
- How big is Francois Rochon's portfolio?
- $2.97B across 51 positions per the latest 13F (filed Aug 26, 2026). The top five holdings account for 29% of the disclosed book.
Similar portfolios
Long US equity 13F-HR filings only — no shorts, no derivatives. SEC filings at EDGAR (CIK 0001641864). Not investment advice.