Francois Rochon Giverny Capital
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Littelfuse
LFUS
|
+$19.3M |
| 2 |
Meta Platforms (Facebook)
META
|
+$18.9M |
| 3 |
Berkshire Hathaway Class B
BRK.B
|
+$4.25M |
| 4 |
Bank OZK
OZK
|
+$1.93M |
| 5 |
Ametek
AME
|
+$1.61M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Credit Acceptance
CACC
|
+$21.6M |
| 2 |
LKQ Corp
LKQ
|
+$18.8M |
| 3 |
Fastenal
FAST
|
+$223K |
| 4 |
HEICO Corp Class A
HEI.A
|
+$60.8K |
| 5 |
Mastercard
MA
|
+$10.3K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 41.94% |
| 2 | Consumer Discretionary | 18.87% |
| 3 | Industrials | 17.92% |
| 4 | Communication Services | 15.07% |
| 5 | Healthcare | 3.27% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Stantec
STN
$8.33B
| $721K | 0.09% |
21,329
| – | – |
|
27
Brookfield
BN
$93.1B
| $690K | 0.09% |
36,262
| – | – |
|
|
28
Mastercard
MA
$509B
| $619K | 0.08% |
3,149
-55
| -2% | -$10.3K |
|
29
lululemon athletica
LULU
$13.7B
| $574K | 0.07% |
4,600
| – | – |
|
30
TJX Companies
TJX
$155B
| $520K | 0.07% |
10,934
| – | – |
|
|
31
Credit Acceptance
CACC
$6.24B
| $351K | 0.05% |
992
-62,989
| -98% | -$21.6M |
|
32
Ryanair
RYAAY
$28.9B
| $286K | 0.04% |
6,250
| – | – |
|
|
HBI
33
DELISTED
Hanesbrands
HBI
| $270K | 0.04% |
12,264
| – | – |
|
|
BCPC
34
Balchem Corp
BCPC
$5.78B
| $222K | 0.03% |
2,266
| – | – |
|
35
Southwest Airlines
LUV
$19.8B
| $202K | 0.03% |
3,961
| – | – |
|
36
Booking.com
BKNG
$158B
| $101K | 0.01% |
+1,250
| New | +$105K |
|
|
37
Fastenal
FAST
$58.8B
| – | – |
-16,308
| Closed | -$223K |
|
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Francois Rochon's Q2 2018 Portfolio in Review
As of Q2 2018, Francois Rochon held 37 positions worth $769M, up 2.9% from $747M the previous quarter. Its ten largest holdings account for 71% of the portfolio.
Francois Rochon's Q2 2018 filing shows 2 new, 17 increased, 5 reduced and 1 closed positions. Its largest new stake was Meta Platforms (Facebook): 104,672 shares worth $20.3M. The largest sale was Credit Acceptance, an estimated $21.6M.
By sector, the portfolio is most concentrated in Financials at 42% of assets, down from 47% a quarter earlier, followed by Consumer Discretionary and Industrials.
- Francois Rochon's largest Q2 2018 buy was Meta Platforms (Facebook): 104,672 shares worth $20.3M.
- Francois Rochon added most to Littelfuse in Q2 2018, an estimated $19.3M increase.
- Francois Rochon's biggest Q2 2018 reduction was Credit Acceptance, cutting an estimated $21.6M.
- Francois Rochon fully exited Fastenal in Q2 2018, selling an estimated $223K.
- Francois Rochon's ten largest holdings make up 71% of its $769M portfolio in Q2 2018.
- Francois Rochon opened 2 new positions and closed 1 in Q2 2018.
- Francois Rochon's portfolio value rose 2.9% quarter-over-quarter to $769M.
Based on Giverny Capital's 13F filing for Q2 2018, filed 13 Aug 2018.