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Francois Rochon Giverny Capital

AUM $2.97B
1-Year Est. Return 13.22%
 

François Rochon is the founder of Giverny Capital, a Montreal-based firm focused on long-term ownership of high-quality businesses. His annual letters discuss portfolio companies in plain language and emphasize culture, capital allocation, and multi-year compounding. Rochon is popular among value-oriented investors who follow concentrated Canadian and U.S. equity managers.

This Fund
S&P 500
This Quarter Est. Return
+3.49%
1 Year Est. Return
+13.22%
3 Year Est. Return
+69.2%
5 Year Est. Return
+87.35%
10 Year Est. Return
+393.18%
AUM
$602M
AUM Growth
+$10.9M
Cap. Flow
-$6.18M
Cap. Flow %
-1.03%
Top 10 Hldgs %
77.37%
Holding
29
New
3
Increased
11
Reduced
6
Closed
3

Top Buys

Rank Stock Value
1
HEI.A icon
HEICO Corp Class A
HEI.A
+$6.91M
2
GOOG icon
Alphabet (Google) Class C
GOOG
+$4.29M
3
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$2.25M
4
V icon
Visa
V
+$1.99M
5
ORLY icon
O'Reilly Automotive
ORLY
+$1.52M

Top Sells

Rank Stock Value
1
BWLD
Buffalo Wild Wings, Inc.
BWLD
+$11.8M
2
SRCL
Stericycle Inc
SRCL
+$7.91M
3
KNGT
KNIGHT TRANSPORTATION INC
KNGT
+$7.11M
4
MTB icon
M&T Bank
MTB
+$499K
5
OZK icon
Bank OZK
OZK
+$343K

Sector Composition

Rank Sector Weight
1 Financials 47.93%
2 Consumer Discretionary 22.96%
3 Industrials 17.4%
4 Communication Services 11.68%
5 Materials 0.03%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MA icon
26
Mastercard
MA
$509B
$169K 0.03%
1,504
– –
SRCL
27
DELISTED
Stericycle Inc
SRCL
– –
-102,707
Closed -$7.91M
BWLD
28
DELISTED
Buffalo Wild Wings, Inc.
BWLD
– –
-76,176
Closed -$11.8M
KNGT
29
DELISTED
KNIGHT TRANSPORTATION INC
KNGT
– –
-215,191
Closed -$7.11M
1
2

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Francois Rochon's Q1 2017 Portfolio in Review

As of Q1 2017, Francois Rochon held 29 positions worth $602M, up 1.9% from $591M the previous quarter. Its ten largest holdings account for 77% of the portfolio.

Francois Rochon's Q1 2017 filing shows 3 new, 11 increased, 6 reduced and 3 closed positions. Its largest new stake was Hanesbrands: 12,264 shares worth $255K. The largest sale was Buffalo Wild Wings, Inc., an estimated $11.8M.

By sector, the portfolio is most concentrated in Financials at 48% of assets, up from 47% a quarter earlier, followed by Consumer Discretionary and Industrials.

  • Francois Rochon's largest Q1 2017 buy was Hanesbrands: 12,264 shares worth $255K.
  • Francois Rochon added most to HEICO Corp Class A in Q1 2017, an estimated $6.91M increase.
  • Francois Rochon's biggest Q1 2017 reduction was M&T Bank, cutting an estimated $499K.
  • Francois Rochon fully exited Buffalo Wild Wings, Inc. in Q1 2017, selling an estimated $11.8M.
  • Francois Rochon's ten largest holdings make up 77% of its $602M portfolio in Q1 2017.
  • Francois Rochon opened 3 new positions and closed 3 in Q1 2017.
  • Francois Rochon's portfolio value rose 1.9% quarter-over-quarter to $602M.

Based on Giverny Capital's 13F filing for Q1 2017, filed 11 May 2017.