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 |
Progressive
PGR
|
+$21.1M |
| 2 |
Bank of America
BAC
|
+$1.86M |
| 3 |
Keysight
KEYS
|
+$1.53M |
| 4 |
Berkshire Hathaway Class B
BRK.B
|
+$1.34M |
| 5 |
Meta Platforms (Facebook)
META
|
+$691K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Mohawk Industries
MHK
|
+$21M |
| 2 |
HEICO Corp Class A
HEI.A
|
+$133K |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$103K |
| 4 |
Visa
V
|
+$41.7K |
| 5 |
TJX Companies
TJX
|
+$14.1K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 44.95% |
| 2 | Industrials | 18.1% |
| 3 | Consumer Discretionary | 17.44% |
| 4 | Communication Services | 10.77% |
| 5 | Technology | 5.03% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
26
Berkshire Hathaway Class A
BRK.A
$1.06T
| $935K | 0.09% |
3
| – | – |
|
27
lululemon athletica
LULU
$13.7B
| $894K | 0.09% |
4,645
| – | – |
|
28
Brookfield
BN
$93.1B
| $687K | 0.07% |
36,262
| – | – |
|
|
29
Mohawk Industries
MHK
$9.23B
| $616K | 0.06% |
4,961
-163,448
| -97% | -$21M |
|
30
Mastercard
MA
$509B
| $554K | 0.06% |
2,039
| – | – |
|
|
31
TJX Companies
TJX
$155B
| $506K | 0.05% |
9,082
-259
| -3% | -$14.1K |
|
32
Apple
AAPL
$4.51T
| $476K | 0.05% |
8,508
| – | – |
|
33
Old Dominion Freight Line
ODFL
$42.8B
| $461K | 0.05% |
8,136
| – | – |
|
34
Five Below
FIVE
$13.8B
| $453K | 0.05% |
3,596
| – | – |
|
35
Roper Technologies
ROP
$40.7B
| $444K | 0.04% |
1,245
| – | – |
|
36
Liberty Media Series C
FWONK
$26.3B
| $442K | 0.04% |
10,994
| – | – |
|
37
Knight Transportation
KNX
$11.7B
| $292K | 0.03% |
8,046
| – | – |
|
38
Fastenal
FAST
$58.8B
| $266K | 0.03% |
16,308
| – | – |
|
39
Southwest Airlines
LUV
$19.8B
| $234K | 0.02% |
4,334
| – | – |
|
40
LKQ Corp
LKQ
$6.52B
| – | – |
-220
| Closed | -$6K |
|
Similar funds
Francois Rochon's Q3 2019 Portfolio in Review
As of Q3 2019, Francois Rochon held 40 positions worth $1B, up 1.3% from $990M the previous quarter. Its ten largest holdings account for 68% of the portfolio.
Francois Rochon's Q3 2019 filing shows 1 new, 20 increased, 5 reduced and 1 closed positions. Its largest new stake was Progressive: 268,243 shares worth $20.7M. The largest sale was Mohawk Industries, an estimated $21M.
By sector, the portfolio is most concentrated in Financials at 45% of assets, up from 43% a quarter earlier, followed by Industrials and Consumer Discretionary.
- Francois Rochon's largest Q3 2019 buy was Progressive: 268,243 shares worth $20.7M.
- Francois Rochon added most to Bank of America in Q3 2019, an estimated $1.86M increase.
- Francois Rochon's biggest Q3 2019 reduction was Mohawk Industries, cutting an estimated $21M.
- Francois Rochon fully exited LKQ Corp in Q3 2019, selling an estimated $6K.
- Francois Rochon's ten largest holdings make up 68% of its $1B portfolio in Q3 2019.
- Francois Rochon opened 1 new position and closed 1 in Q3 2019.
- Francois Rochon's portfolio value rose 1.3% quarter-over-quarter to $1B.
Based on Giverny Capital's 13F filing for Q3 2019, filed 14 Nov 2019.