Francois Rochon
Portfolio value$3.0B
Positions51
QuarterQ2 2026ended 2026-06-30
Filed08/262026
Giverny Capital Inc.'s Q2 2026 13F, filed Aug 26, 2026, reports 51 positions worth $3.0B. The ten largest are 51.5% of the book, led by Alphabet (Class C) at 7.2%, Heico Corp New at 6.4% and Meta Platforms at 5.7%. Against Q1 2026: 7 bought, 11 added to, 31 reduced, 7 sold; the largest moves were reduced Berkshire Hathaway (−34%) and reduced Keysight Technologies (−56%).
Where the money is
GOOGHEI/AMETASCHWADPAMEMEDPVBRK/B41 other
Holdings
| Ticker | Issuer | Weight | Value | Q-end → now | Price vs model | Change |
|---|---|---|---|---|---|---|
| GOOG | Alphabet INC C | 7.2% | $213.9M605,460 sh | 353.33 → −5% | 49% overvalued | reduced −2% |
| HEI/A | Heico Corp New | 6.4% | $189.6M735,248 sh | 257.91 | — | reduced −0% |
| META | Meta Platforms INC | 5.7% | $170.6M302,888 sh | 563.29 → +26% | 10% overvalued | reduced −2% |
| SCHW | Schwab Charles Corp | 5.2% | $155.2M1.7M sh | 92.27 → −0% | 43% undervalued | added +9% |
| ADP | Automatic Data Proc INC | 4.9% | $146.6M654,556 sh | 223.95 → +29% | 65% overvalued | added +56% |
| AME | Ametek INC | 4.9% | $144.9M598,781 sh | 241.94 → +3% | 59% overvalued | reduced −2% |
| MEDP | Medpace Holdings INC | 4.5% | $134.5M253,931 sh | 529.59 | — | reduced −1% |
| V | Visa INC | 4.5% | $133.8M389,900 sh | 343.09 → +17% | 40% overvalued | reduced −2% |
| BRK/B | Berkshire Hathaway INC Del | 4.2% | $124.3M248,447 sh | 500.39 → +6% | 21% overvalued | reduced −34% |
| PGR | Progressive Corp | 4.0% | $118.5M542,292 sh | 218.45 → +0% | 11% undervalued | added +3% |
| GOOGL | Alphabet INC | 3.7% | $110.8M310,118 sh | 357.37 → −5% | 51% overvalued | reduced −11% |
| FIVE | Five Below INC | 3.6% | $107.5M598,122 sh | 179.79 | — | reduced −3% |
| BKNG | Booking Holdings Inc. | 3.1% | $93.2M522,664 sh | 178.24 → −8% | 18% undervalued | reduced −1% |
| IBP | Installed Bldg Prods INC | 3.1% | $91.4M397,662 sh | 229.84 | — | reduced −1% |
| NVR | Nvr INC | 3.0% | $90.2M13,238 sh | 6,813.40 → −13% | 31% undervalued | reduced −3% |
| KNSL | Kinsale Capital Group In | 2.7% | $79.4M240,731 sh | 329.81 | — | added +10% |
| BFAM | Bright Horizonsfamily Solution | 2.6% | $76.6M1.1M sh | 70.88 | — | added +46% |
| RMD | Resmed INC | 2.5% | $75.5M387,665 sh | 194.88 → +23% | 11% overvalued | added +69% |
| OZK | Bank Ozk Little Rock Ark | 2.1% | $62.4M1.2M sh | 52.09 | — | reduced −3% |
| MKL | Markel Corp | 2.0% | $60.3M30,877 sh | 1,953.01 | — | reduced −28% |
| ANET | Arista Networks INC | 1.9% | $57.7M339,892 sh | 169.88 → +4% | 73% overvalued | reduced −20% |
| KEYS | Keysight Technologies INC | 1.7% | $50.1M143,072 sh | 350.07 → −5% | 224% overvalued | reduced −56% |
| DIS | Disney Walt CO | 1.7% | $49.6M515,567 sh | 96.25 → +15% | 9% undervalued | reduced −4% |
| BRO | Brown & Brown | 1.6% | $48.3M753,288 sh | 64.15 → +8% | 35% undervalued | reduced −0% |
| ADI | Analog Devices INC | 1.2% | $37.1M93,310 sh | 397.17 → −0% | 99% overvalued | reduced −45% |
| NYT | New York Times Co-a- | 1.1% | $33.9M484,424 sh | 69.98 | — | bought |
| LFUS | Littelfuse INC | 1.1% | $33.8M74,125 sh | 455.33 | — | reduced −8% |
| MSA | Msa Safety INC | 1.0% | $29.0M166,305 sh | 174.58 | — | bought |
| WSO | Watsco INC | 0.9% | $27.5M65,975 sh | 416.73 | — | bought |
| AAON | Aaon INC | 0.9% | $26.0M204,779 sh | 126.86 | — | added +1% |
| GLD | Spdr Gold Tr | 0.8% | $25.0M3,876 sh | 6,458.50 | — | held |
| SUNB | Sunbelt Rentals Holdings | 0.7% | $21.6M246,369 sh | 87.65 | — | reduced −9% |
| VEEV | Veeva Systems INC Cl-a | 0.6% | $16.9M94,956 sh | 177.47 → +75% | 157% overvalued | bought |
| AXP | American Express CO | 0.5% | $15.8M46,702 sh | 337.33 → −7% | 23% overvalued | bought |
| TWFG | Twfg INC | 0.5% | $15.7M652,452 sh | 24.05 | — | added +18% |
| JPM | Jpmorgan Chase & CO | 0.5% | $15.7M47,876 sh | 327.33 → +4% | 11% overvalued | reduced −8% |
| MA | Mastercard Incorporated | 0.5% | $14.8M28,816 sh | 513.60 → +20% | 15% overvalued | added +3% |
| LULU | Lululemon Athletica INC | 0.5% | $14.7M128,803 sh | 114.18 → −15% | 53% undervalued | reduced −10% |
| FND | Floor & Decor Hldgs INC | 0.5% | $13.6M229,867 sh | 59.36 | — | reduced −1% |
| HWKN | Hawkins INC | 0.5% | $13.5M94,954 sh | 142.10 | — | bought |
| FERG | Ferguson Enterprises INC | 0.3% | $8.9M37,380 sh | 237.33 → −2% | 37% overvalued | added +2% |
| BLDR | Builders Firstsource INC | 0.3% | $8.2M91,464 sh | 89.48 → −39% | 75% undervalued | reduced −0% |
| BRK/A | Berkshire Hathaway INC Del | 0.2% | $6.7M9 sh | 748,850.00 | — | reduced −18% |
| AAPL | Apple INC | 0.1% | $3.8M12,995 sh | 289.36 → +19% | 114% overvalued | reduced −14% |
| TSM | Taiwan Semiconductor Mfg LTD | 0.1% | $1.7M3,655 sh | 477.57 | — | reduced −55% |
| SPY | Spdr S&p 500 ETF | 0.1% | $1.7M2,294 sh | 746.77 | — | reduced −7% |
| YUMC | Yum China Hldgs INC | 0.0% | $1.5M36,036 sh | 40.87 | — | held |
| ITB | Ishares Tr | 0.0% | $1.2M11,662 sh | 104.48 | — | added +7% |
| MSFT | Microsoft Corp | 0.0% | $666,5871,787 sh | 373.02 → +42% | 10% overvalued | reduced −6% |
| QQQ | Invesco Qqq Tr | 0.0% | $287,932391 sh | 736.40 | — | bought |
| CPRT | Copart INC | 0.0% | $233,2448,274 sh | 28.19 → −1% | 5% overvalued | reduced −70% |
Source: the manager's Form 13F-HR on SEC EDGAR, kept as immutable quarterly snapshots; changes compare two consecutive filings. A 13F is filed up to 45 days after quarter end and covers US-listed long positions only. Tickers come from a self-maintained CUSIP map; a position without one shows its CUSIP. Method notes in where the numbers come from.