Francois Rochon
Portfolio value$3.0B
Positions51
QuarterQ2 2026ended 2026-06-30
Filed08/262026
Q2 2026 versus Q1 2026: 7 bought, 11 added to, 31 reduced, 7 sold. By dollars, the largest buy was ADP, $52.7M more at the quarter-end price; the largest sale Berkshire Hathaway, $65.1M less. Net, $12.9M more bought than sold. What every tracked investor did in Q2 2026.
Every move, largest first
| Ticker | Issuer | Move | Shares Q1 2026 → Q2 2026 | Bought / sold | Of the portfolio | Weight now | Price vs model |
|---|---|---|---|---|---|---|---|
| BRK/B | Berkshire Hathaway INC Del | reduced −34% | 378,625 → 248,447 | −$65.1M | −2.19% | 4.2% | 21% overvalued |
| KEYS | Keysight Technologies INC | reduced −56% | 323,184 → 143,072 | −$63.1M | −2.12% | 1.7% | 224% overvalued |
| ADP | Automatic Data Proc INC | added +56% | 419,090 → 654,556 | +$52.7M | +1.77% | 4.9% | 65% overvalued |
| NYT | New York Times Co-a- | bought | — → 484,424 | +$33.9M | +1.14% | 1.1% | — |
| ADI | Analog Devices INC | reduced −45% | 171,052 → 93,310 | −$30.9M | −1.04% | 1.2% | 99% overvalued |
| RMD | Resmed INC | added +69% | 230,005 → 387,665 | +$30.7M | +1.03% | 2.5% | 11% overvalued |
| MSA | Msa Safety INC | bought | — → 166,305 | +$29.0M | +0.98% | 1.0% | — |
| WSO | Watsco INC | bought | — → 65,975 | +$27.5M | +0.92% | 0.9% | — |
| BFAM | Bright Horizonsfamily Solution | added +46% | 742,329 → 1.1M | +$24.0M | +0.81% | 2.6% | — |
| MKL | Markel Corp | reduced −28% | 42,944 → 30,877 | −$23.6M | −0.79% | 2.0% | — |
| VEEV | Veeva Systems INC Cl-a | bought | — → 94,956 | +$16.9M | +0.57% | 0.6% | 157% overvalued |
| AXP | American Express CO | bought | — → 46,702 | +$15.8M | +0.53% | 0.5% | 23% overvalued |
| ANET | Arista Networks INC | reduced −20% | 423,361 → 339,892 | −$14.2M | −0.48% | 1.9% | 73% overvalued |
| GOOGL | Alphabet INC | reduced −11% | 348,469 → 310,118 | −$13.7M | −0.46% | 3.7% | 51% overvalued |
| HWKN | Hawkins INC | bought | — → 94,954 | +$13.5M | +0.45% | 0.5% | — |
| SCHW | Schwab Charles Corp | added +9% | 1.5M → 1.7M | +$13.4M | +0.45% | 5.2% | 43% undervalued |
| KNSL | Kinsale Capital Group In | added +10% | 218,942 → 240,731 | +$7.2M | +0.24% | 2.7% | — |
| GOOG | Alphabet INC C | reduced −2% | 620,909 → 605,460 | −$5.5M | −0.18% | 7.2% | 49% overvalued |
| FIVE | Five Below INC | reduced −3% | 617,191 → 598,122 | −$3.4M | −0.12% | 3.6% | — |
| AME | Ametek INC | reduced −2% | 612,058 → 598,781 | −$3.2M | −0.11% | 4.9% | 59% overvalued |
| PGR | Progressive Corp | added +3% | 528,364 → 542,292 | +$3.0M | +0.10% | 4.0% | 11% undervalued |
| LFUS | Littelfuse INC | reduced −8% | 80,719 → 74,125 | −$3.0M | −0.10% | 1.1% | — |
| NVR | Nvr INC | reduced −3% | 13,647 → 13,238 | −$2.8M | −0.09% | 3.0% | 31% undervalued |
| META | Meta Platforms INC | reduced −2% | 307,821 → 302,888 | −$2.8M | −0.09% | 5.7% | 10% overvalued |
| TWFG | Twfg INC | added +18% | 552,107 → 652,452 | +$2.4M | +0.08% | 0.5% | — |
| V | Visa INC | reduced −2% | 396,357 → 389,900 | −$2.2M | −0.07% | 4.5% | 40% overvalued |
| SUNB | Sunbelt Rentals Holdings | reduced −9% | 270,843 → 246,369 | −$2.1M | −0.07% | 0.7% | — |
| TSM | Taiwan Semiconductor Mfg LTD | reduced −55% | 8,125 → 3,655 | −$2.1M | −0.07% | 0.1% | — |
| DIS | Disney Walt CO | reduced −4% | 536,514 → 515,567 | −$2.0M | −0.07% | 1.7% | 9% undervalued |
| OZK | Bank Ozk Little Rock Ark | reduced −3% | 1.2M → 1.2M | −$1.7M | −0.06% | 2.1% | — |
| LULU | Lululemon Athletica INC | reduced −10% | 142,600 → 128,803 | −$1.6M | −0.05% | 0.5% | 53% undervalued |
| MTB | M & T Bk Corp | sold | 7,535 → 0 | −$1.6M | −0.05% | — | — |
| BRK/A | Berkshire Hathaway INC Del | reduced −18% | 11 → 9 | −$1.5M | −0.05% | 0.2% | — |
| JPM | Jpmorgan Chase & CO | reduced −8% | 52,298 → 47,876 | −$1.4M | −0.05% | 0.5% | 11% overvalued |
| IBP | Installed Bldg Prods INC | reduced −1% | 403,665 → 397,662 | −$1.4M | −0.05% | 3.1% | — |
| RSP | Invesco S&p500 Eq Wgt ETF | sold | 6,105 → 0 | −$1.2M | −0.04% | — | — |
| MEDP | Medpace Holdings INC | reduced −1% | 256,081 → 253,931 | −$1.1M | −0.04% | 4.5% | — |
| QQQM | Invesco Exch Traded Fd Tr Ii | sold | 4,222 → 0 | −$1.0M | −0.03% | — | — |
| BIRK | Birkenstock Hldg PLC | sold | 27,392 → 0 | −$981,455 | −0.03% | — | — |
| ODFL | Old Dominion Freight Line In | sold | 5,006 → 0 | −$978,172 | −0.03% | — | — |
| BKNG | Booking Holdings Inc. | reduced −1% | 527,925 → 522,664 | −$937,720.6 | −0.03% | 3.1% | 18% undervalued |
| HEI/A | Heico Corp New | reduced −0% | 738,482 → 735,248 | −$834,080.9 | −0.03% | 6.4% | — |
| AAPL | Apple INC | reduced −14% | 15,040 → 12,995 | −$591,741.2 | −0.02% | 0.1% | 114% overvalued |
| CPRT | Copart INC | reduced −70% | 27,484 → 8,274 | −$541,529.8 | −0.02% | 0.0% | 5% overvalued |
| SITE | Siteone Landscape Supply INC | sold | 3,753 → 0 | −$499,562 | −0.02% | — | — |
| NVO | Novo-nordisk A S | sold | 12,400 → 0 | −$455,700 | −0.02% | — | — |
| MA | Mastercard Incorporated | added +3% | 28,066 → 28,816 | +$385,200 | +0.01% | 0.5% | 15% overvalued |
| AAON | Aaon INC | added +1% | 201,832 → 204,779 | +$373,856.4 | +0.01% | 0.9% | — |
| QQQ | Invesco Qqq Tr | bought | — → 391 | +$287,932 | +0.01% | 0.0% | — |
| FERG | Ferguson Enterprises INC | added +2% | 36,728 → 37,380 | +$154,739.2 | +0.01% | 0.3% | 37% overvalued |
| SPY | Spdr S&p 500 ETF | reduced −7% | 2,474 → 2,294 | −$134,418.6 | −0.00% | 0.1% | — |
| BRO | Brown & Brown | reduced −0% | 755,269 → 753,288 | −$127,081.1 | −0.00% | 1.6% | 35% undervalued |
| FND | Floor & Decor Hldgs INC | reduced −1% | 231,829 → 229,867 | −$116,464.3 | −0.00% | 0.5% | — |
| ITB | Ishares Tr | added +7% | 10,854 → 11,662 | +$84,419.9 | +0.00% | 0.0% | — |
| MSFT | Microsoft Corp | reduced −6% | 1,910 → 1,787 | −$45,881.5 | −0.00% | 0.0% | 10% overvalued |
| BLDR | Builders Firstsource INC | reduced −0% | 91,813 → 91,464 | −$31,228.5 | −0.00% | 0.3% | 75% undervalued |
Bought / sold is the change in shares × the quarter's reported price (value ÷ shares in the filing); a position sold out is priced at the quarter before, since it has no price in this one. “Of the portfolio” is that amount against this quarter's reported book.
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.