Giverny Capital · SEC Form 13F for Sep 30, 2026 · filed Nov 12, 2026
Francois Rochon
$2.9 billion in 51 stocks
Meta Platforms is 7.2% of it, and five stocks make up 31%. Against Q2 2026: opened 3, added to 4, trimmed 3, sold out of 3.
Copying these filings against the S&P 500
Return per year, May 13, 2015 – Nov 11, 2026, dividends included. Calculated Nov 12, 2026; later filings are not in it. A simulation, not the fund’s return, and the gap changes a lot with the dates.
How this is calculated
We compare two imaginary portfolios over the same dates. One buys an S&P 500 fund (SPY) and keeps it. The other copies this investor: on the first trading day after each 13F filing becomes public, it sells what it holds and buys what the filing lists, in the same proportions, at that day’s closing price. It leaves out options, holds no cash and does not trade between filings.
We use daily prices from Yahoo Finance, dividends included, and check each against the price in the filings before using it. Some holdings have no daily prices, mostly companies that were later bought or delisted, and bonds. For those we use the price from each quarterly filing, which leaves out dividends. For this investor that is 4% of the copy.
Filings come out up to 45 days after the quarter ends, so the copy is always acting on old news. A holding first revealed in a corrected filing counts from the day the correction was filed. Shorts, cash, non-US listings, fees, costs and taxes are left out. The start date is simply where our data begins. This is not a prediction.
Calculation and data limitsWhat changed in Q3 2026
Change in shares since Q2 2026. Changes under 20% are in grey.
Opened3
Amazon0.43% of portfolioPiper Sandler Cos0.16% of portfolioCapital One0.06% of portfolioAdded to4 + 4 smaller
New York Times+102%Msa Safety Inc+95.9%Veeva Systems Inc (Class A)+62.2%American Express+20.5%Ss SPDR S&P 500 ETF Trust-Us+19.5%Sunbelt Rentals Holdings Inc+12.0%Charles Schwab+1.1%Hawkins Inc+0.3%Trimmed3 + 34 smaller
Berkshire Hathaway (Class B)−38.7%Markel Group Inc−35.7%Berkshire Hathaway (Class A)−33.3%Keysight Technologies Inc−6.7%Littelfuse Inc−6.2%NVR−6.1%Analog Devices−5.8%Progressive Corp−5.7%and 29 more in the holdings below
Sold out3
Lululemon Athletica Incwas 0.49%Builders Firstsource Incwas 0.28%Copart Incwas 0.01%The portfolio in one line
Each block is a holding, as wide as its share of the portfolio.
opened or added 20% or more trimmed 20% or more otherwise
51 matching positions
| Company | Weight | This quarter | Reported value | 8 quarters |
|---|---|---|---|---|
Meta PlatformsMETAPosition detailsQuote on Yahoo Finance ↗ 290,736 reported shares · $725.18 per unit · $210,835,932 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 7.23% | Reduce -4.01% | $211M | |
Alphabet (Class C)GOOGPosition detailsQuote on Yahoo Finance ↗ 584,916 reported shares · $340.74 per unit · $199,304,278 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 6.83% | Reduce -3.39% | $199M | |
Charles SchwabSCHWPosition detailsQuote on Yahoo Finance ↗ 1,700,220 reported shares · $97.74 per unit · $166,179,503 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 5.70% | Add +1.11% | $166M | |
Heico Corp (Class A)HEI/APosition detailsQuote on Yahoo Finance ↗ 717,882 reported shares · $228.33 per unit · $163,913,997 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 5.62% | Reduce -2.36% | $164M | |
Automatic Data ProcessingADPPosition detailsQuote on Yahoo Finance ↗ 630,632 reported shares · $258.06 per unit · $162,740,894 reported value 3 recorded quarters of position-weight history; not proof of continuous ownership. | 5.58% | Reduce -3.65% | $163M | |
Medpace Holdings IncMEDPPosition detailsQuote on Yahoo Finance ↗ 244,746 reported shares · $624.18 per unit · $152,765,558 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 5.24% | Reduce -3.62% | $153M | |
Ametek IncAMEPosition detailsQuote on Yahoo Finance ↗ 574,071 reported shares · $247.73 per unit · $142,214,609 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 4.87% | Reduce -4.13% | $142M | |
VisaVPosition detailsQuote on Yahoo Finance ↗ 371,618 reported shares · $359.33 per unit · $133,533,496 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 4.58% | Reduce -4.69% | $134M | |
Five BelowFIVEPosition detailsQuote on Yahoo Finance ↗ 579,303 reported shares · $219.57 per unit · $127,197,560 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 4.36% | Reduce -3.15% | $127M | |
Progressive CorpPGRPosition detailsQuote on Yahoo Finance ↗ 511,183 reported shares · $207.31 per unit · $105,973,348 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 3.63% | Reduce -5.74% | $106M | |
Alphabet (Class A)GOOGLPosition detailsQuote on Yahoo Finance ↗ 305,986 reported shares · $344.08 per unit · $105,283,663 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 3.61% | Reduce -1.33% | $105M | |
Resmed IncRMDPosition detailsQuote on Yahoo Finance ↗ 369,970 reported shares · $221.10 per unit · $81,800,367 reported value 5 recorded quarters of position-weight history; not proof of continuous ownership. | 2.80% | Reduce -4.56% | $82M | |
Booking HoldingsBKNGPosition detailsQuote on Yahoo Finance ↗ 492,786 reported shares · $162.91 per unit · $80,279,767 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 2.75% | Reduce -5.72% | $80M | |
Kinsale Capital Group IncKNSLPosition detailsQuote on Yahoo Finance ↗ 237,434 reported shares · $322.75 per unit · $76,631,824 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 2.63% | Reduce -1.37% | $77M | |
NVRNVRPosition detailsQuote on Yahoo Finance ↗ 12,433 reported shares · $6154.39 per unit · $76,517,531 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 2.62% | Reduce -6.08% | $77M | |
Berkshire Hathaway (Class B)BRK/BPosition detailsQuote on Yahoo Finance ↗ 152,192 reported shares · $497.95 per unit · $75,784,006 reported value Previous recorded weight: 4.18% 8 recorded quarters of position-weight history; not proof of continuous ownership. | 2.60% | Reduce -38.74% | $76M | |
Installed Building ProductsIBPPosition detailsQuote on Yahoo Finance ↗ 381,695 reported shares · $191.88 per unit · $73,239,637 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 2.51% | Reduce -4.02% | $73M | |
Arista Networks IncANETPosition detailsQuote on Yahoo Finance ↗ 339,114 reported shares · $203.59 per unit · $69,040,219 reported value 6 recorded quarters of position-weight history; not proof of continuous ownership. | 2.37% | Reduce -0.23% | $69M | |
Bright Horizons Family SolutBFAMPosition detailsQuote on Yahoo Finance ↗ 1,054,380 reported shares · $63.72 per unit · $67,185,094 reported value 4 recorded quarters of position-weight history; not proof of continuous ownership. | 2.30% | Reduce -2.44% | $67M | |
New York TimesNYTPosition detailsQuote on Yahoo Finance ↗ 978,455 reported shares · $63.70 per unit · $62,327,584 reported value Previous recorded weight: 1.14% 2 recorded quarters of position-weight history; not proof of continuous ownership. | 2.14% | Add +101.98% | $62M | |
Msa Safety IncMSAPosition detailsQuote on Yahoo Finance ↗ 325,824 reported shares · $177.88 per unit · $57,957,573 reported value Previous recorded weight: 0.98% 2 recorded quarters of position-weight history; not proof of continuous ownership. | 1.99% | Add +95.92% | $58M | |
Walt DisneyDISPosition detailsQuote on Yahoo Finance ↗ 501,042 reported shares · $104.90 per unit · $52,559,306 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 1.80% | Reduce -2.82% | $53M | |
Bank OzkOZKPosition detailsQuote on Yahoo Finance ↗ 1,135,765 reported shares · $45.96 per unit · $52,199,759 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 1.79% | Reduce -5.20% | $52M | |
Keysight Technologies IncKEYSPosition detailsQuote on Yahoo Finance ↗ 133,431 reported shares · $364.04 per unit · $48,574,221 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 1.67% | Reduce -6.74% | $49M | |
Veeva Systems Inc (Class A)VEEVPosition detailsQuote on Yahoo Finance ↗ 154,033 reported shares · $285.45 per unit · $43,968,720 reported value Previous recorded weight: 0.57% 2 recorded quarters of position-weight history; not proof of continuous ownership. | 1.51% | Add +62.22% | $44M | |
Brown & Brown IncBROPosition detailsQuote on Yahoo Finance ↗ 717,531 reported shares · $60.90 per unit · $43,697,638 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 1.50% | Reduce -4.75% | $44M | |
Analog DevicesADIPosition detailsQuote on Yahoo Finance ↗ 87,888 reported shares · $396.71 per unit · $34,866,048 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 1.20% | Reduce -5.81% | $35M | |
Markel Group IncMKLPosition detailsQuote on Yahoo Finance ↗ 19,860 reported shares · $1712.45 per unit · $34,009,257 reported value Previous recorded weight: 2.03% 8 recorded quarters of position-weight history; not proof of continuous ownership. | 1.17% | Reduce -35.68% | $34M | |
Littelfuse IncLFUSPosition detailsQuote on Yahoo Finance ↗ 69,519 reported shares · $423.74 per unit · $29,457,981 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 1.01% | Reduce -6.21% | $29M | |
Sunbelt Rentals Holdings IncSUNBPosition detailsQuote on Yahoo Finance ↗ 275,861 reported shares · $73.21 per unit · $20,195,784 reported value 3 recorded quarters of position-weight history; not proof of continuous ownership. | 0.69% | Add +11.97% | $20M | |
Watsco IncWSOPosition detailsQuote on Yahoo Finance ↗ 65,688 reported shares · $302.69 per unit · $19,883,101 reported value 2 recorded quarters of position-weight history; not proof of continuous ownership. | 0.68% | Reduce -0.44% | $20M | |
American ExpressAXPPosition detailsQuote on Yahoo Finance ↗ 56,293 reported shares · $304.10 per unit · $17,118,701 reported value Previous recorded weight: 0.53% 2 recorded quarters of position-weight history; not proof of continuous ownership. | 0.59% | Add +20.54% | $17M | |
Aaon IncAAONPosition detailsQuote on Yahoo Finance ↗ 203,872 reported shares · $82.76 per unit · $16,872,447 reported value 3 recorded quarters of position-weight history; not proof of continuous ownership. | 0.58% | Reduce -0.44% | $17M | |
MastercardMAPosition detailsQuote on Yahoo Finance ↗ 28,558 reported shares · $551.47 per unit · $15,748,880 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 0.54% | Reduce -0.90% | $16M | |
Twfg IncTWFGPosition detailsQuote on Yahoo Finance ↗ 652,319 reported shares · $24.01 per unit · $15,662,179 reported value 6 recorded quarters of position-weight history; not proof of continuous ownership. | 0.54% | Reduce -0.02% | $16M | |
JPMorgan ChaseJPMPosition detailsQuote on Yahoo Finance ↗ 47,204 reported shares · $330.83 per unit · $15,616,499 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 0.54% | Reduce -1.40% | $16M | |
AmazonAMZNPosition detailsQuote on Yahoo Finance ↗ 49,902 reported shares · $249.15 per unit · $12,433,083 reported value Previous recorded weight: 0.00% 2 recorded quarters of position-weight history; not proof of continuous ownership. | 0.43% | New position | $12M | |
Hawkins IncHWKNPosition detailsQuote on Yahoo Finance ↗ 95,259 reported shares · $126.00 per unit · $12,002,634 reported value 2 recorded quarters of position-weight history; not proof of continuous ownership. | 0.41% | Add +0.32% | $12M | |
Floor & Decor Holdings Inc (Class A)FNDPosition detailsQuote on Yahoo Finance ↗ 225,417 reported shares · $45.81 per unit · $10,326,353 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 0.35% | Reduce -1.94% | $10M | |
Ferguson Enterprises IncFERGPosition detailsQuote on Yahoo Finance ↗ 37,119 reported shares · $222.62 per unit · $8,263,432 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 0.28% | Reduce -0.70% | $8M | |
Piper Sandler CosPIPRPosition detailsQuote on Yahoo Finance ↗ 69,000 reported shares · $65.97 per unit · $4,551,930 reported value Previous recorded weight: 0.00% —1 recorded quarters of position-weight history; not proof of continuous ownership. | 0.16% | New position | $5M | |
Berkshire Hathaway (Class A)BRK/APosition detailsQuote on Yahoo Finance ↗ 6 reported shares · $747005.00 per unit · $4,482,030 reported value Previous recorded weight: 0.23% 8 recorded quarters of position-weight history; not proof of continuous ownership. | 0.15% | Reduce -33.33% | $4M | |
AppleAAPLPosition detailsQuote on Yahoo Finance ↗ 12,436 reported shares · $333.02 per unit · $4,141,437 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 0.14% | Reduce -4.30% | $4M | |
Ss SPDR S&P 500 ETF Trust-UsSPYPosition detailsQuote on Yahoo Finance ↗ 2,741 reported shares · $762.63 per unit · $2,090,369 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 0.07% | Add +19.49% | $2M | |
Taiwan Semiconductor (TSMC)TSMPosition detailsQuote on Yahoo Finance ↗ 3,647 reported shares · $456.19 per unit · $1,663,725 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 0.06% | Reduce -0.22% | $2M | |
Capital OneCOFPosition detailsQuote on Yahoo Finance ↗ 8,366 reported shares · $193.07 per unit · $1,615,224 reported value Previous recorded weight: 0.00% 6 recorded quarters of position-weight history; not proof of continuous ownership. | 0.06% | New position | $2M | |
SPDR GoldGLDPosition detailsQuote on Yahoo Finance ↗ 3,876 reported shares · $380.84 per unit · $1,476,136 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 0.05% | No change | $1M | |
Yum China Holdings IncYUMCPosition detailsQuote on Yahoo Finance ↗ 36,036 reported shares · $41.10 per unit · $1,481,080 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 0.05% | No change | $1M | |
iShares U.s. Home ConstructiITBPosition detailsQuote on Yahoo Finance ↗ 11,468 reported shares · $87.02 per unit · $997,945 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 0.03% | Reduce -1.66% | $998K | |
MicrosoftMSFTPosition detailsQuote on Yahoo Finance ↗ 1,746 reported shares · $512.90 per unit · $895,523 reported value 8 recorded quarters of position-weight history; not proof of continuous ownership. | 0.03% | Reduce -2.29% | $896K | |
Invesco Qqq Trust Series 1QQQPosition detailsQuote on Yahoo Finance ↗ 391 reported shares · $739.77 per unit · $289,250 reported value 2 recorded quarters of position-weight history; not proof of continuous ownership. | 0.01% | No change | $289K |
How to read this table
- Weight is a holding’s share of the reported portfolio, not of everything the manager runs.
- Price per unit is the reported value divided by the reported shares at quarter end.
- Some filings state dollar values in thousands. Those are shown here in dollars.
- Share changes compare two filings. They can reflect splits or corrections as well as trades.
- Every change is listed here. Across the site, an investor counts as adding or reducing only when the change is 20% or more, or a position is opened or closed.
- “N/A” means the two filings could not be compared, not that nothing changed.
- Filings do not show trade dates or reasons.
Source: SEC Form 13F for Sep 30, 2026, filed Nov 12, 2026 · Form 13F 0001641864-26-000011 ↗SEC filing index ↗ · A filing lists long US-listed positions at quarter end. It is not a live portfolio and gives no reasons for a change.
About Francois Rochon
Giverny Capital is a Montreal investment adviser whose work includes managing portfolios for private clients. Firm background ↗
In its portfolio for the quarter ended Mar 31, 2015, Giverny Capital’s largest reported positions included Berkshire Hathaway, Carmax Inc, Disney Walt Company. Historical filing ↗
In the filing dated Aug 26, 2026, Giverny Capital reported as Giverny Capital Inc. with an office in MONTREAL. Jean-Philippe Bouchard, Vice President and Portfolio Manager, signed the filing. SEC cover page ↗
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