We are live on ! Find out more
FR

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
-12.97%
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
$759M
AUM Growth
-$124M
Cap. Flow
-$441K
Cap. Flow %
-0.06%
Top 10 Hldgs %
68.31%
Holding
36
New
–
Increased
10
Reduced
15
Closed
1

Top Buys

Rank Stock Value
1
NVR icon
NVR
NVR
+$15.1M
2
MHK icon
Mohawk Industries
MHK
+$14.1M
3
JPM icon
JPMorgan Chase
JPM
+$10.2M
4
FBIN icon
Fortune Brands Innovations
FBIN
+$9.03M
5
SCHW
Charles Schwab
SCHW
+$7.16M

Top Sells

Rank Stock Value
1
OZK icon
Bank OZK
OZK
+$18.7M
2
DIS icon
Walt Disney
DIS
+$12.7M
3
UNP icon
Union Pacific
UNP
+$12.4M
4
EW icon
Edwards Lifesciences
EW
+$8.88M
5
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$944K

Sector Composition

Rank Sector Weight
1 Financials 43.76%
2 Consumer Discretionary 21.13%
3 Industrials 17.14%
4 Communication Services 12.93%
5 Healthcare 2.52%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LULU icon
26
lululemon athletica
LULU
$13.7B
$559K 0.07%
4,600
– –
BN icon
27
Brookfield
BN
$93.1B
$496K 0.07%
36,262
– –
TJX icon
28
TJX Companies
TJX
$155B
$489K 0.06%
10,934
– –
MA icon
29
Mastercard
MA
$509B
$391K 0.05%
2,074
– –
HCSG icon
30
Healthcare Services Group
HCSG
$1.56B
$372K 0.05%
9,266
– –
FIVE icon
31
Five Below
FIVE
$13.8B
$368K 0.05%
3,596
– –
AAPL icon
32
Apple
AAPL
$4.51T
$344K 0.05%
8,712
+204
+2% +$9.89K
FAST icon
33
Fastenal
FAST
$58.8B
$213K 0.03%
16,308
– –
LUV icon
34
Southwest Airlines
LUV
$19.8B
$184K 0.02%
3,961
– –
BCPC
35
Balchem Corp
BCPC
$5.78B
$178K 0.02%
2,266
– –
RYAAY icon
36
Ryanair
RYAAY
$28.9B
– –
-6,250
Closed -$240K
1
2

Similar funds

LC
L1 Capital Melbourne VIC 3000, Australia $2.97B AUM 43.46% 1-Year Est. Return
EWA
EverSource Wealth Advisors Birmingham, Alabama $2.97B AUM 28.72% 1-Year Est. Return
GI
GLOBALT Investments Atlanta, Georgia $2.97B AUM 23.94% 1-Year Est. Return
ACIM
Azimuth Capital Investment Management Bloomfield Hills, Michigan $2.96B AUM 32.75% 1-Year Est. Return
MSL
Mackay Shields LLC New York $2.99B AUM 3.89% 1-Year Est. Return
SW
Simplicity Wealth Summit, New Jersey $2.96B AUM 25.11% 1-Year Est. Return
FI
Focused Investors Los Angeles, California $2.96B AUM 15.6% 1-Year Est. Return
WBG
Wharton Business Group Malvern, Pennsylvania $2.99B AUM 30.41% 1-Year Est. Return

Francois Rochon's Q4 2018 Portfolio in Review

As of Q4 2018, Francois Rochon held 36 positions worth $759M, down 14% from $883M the previous quarter. Its ten largest holdings account for 68% of the portfolio.

Trading was light in Q4 2018: portfolio turnover was 2.8%. Francois Rochon opened no new positions and exited 1, leaving the 36-position portfolio largely intact.

By sector, the portfolio is most concentrated in Financials at 44% of assets, up from 43% a quarter earlier, followed by Consumer Discretionary and Industrials.

  • Francois Rochon added most to NVR in Q4 2018, an estimated $15.1M increase.
  • Francois Rochon's biggest Q4 2018 reduction was Bank OZK, cutting an estimated $18.7M.
  • Francois Rochon fully exited Ryanair in Q4 2018, selling an estimated $240K.
  • Francois Rochon's ten largest holdings make up 68% of its $759M portfolio in Q4 2018.
  • Francois Rochon opened 0 new positions and closed 1 in Q4 2018.
  • Francois Rochon's portfolio value fell 14% quarter-over-quarter to $759M.

Based on Giverny Capital's 13F filing for Q4 2018, filed 13 Feb 2019.