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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
+7.84%
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
$2.97B
AUM Growth
+$243M
Cap. Flow
+$19.2M
Cap. Flow %
0.65%
Top 10 Hldgs %
51.5%
Holding
58
New
7
Increased
11
Reduced
31
Closed
7

Top Buys

Rank Stock Value
1
ADP icon
Automatic Data Processing
ADP
+$50.3M
2
NYT icon
New York Times
NYT
+$37.3M
3
RMD icon
ResMed
RMD
+$32.7M
4
MSA icon
Mine Safety
MSA
+$27.9M
5
WSO icon
Watsco Inc
WSO
+$26.5M

Top Sells

Rank Stock Value
1
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$62.6M
2
KEYS icon
Keysight
KEYS
+$61.4M
3
ADI icon
Analog Devices
ADI
+$30.8M
4
MKL icon
Markel Group
MKL
+$22.5M
5
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$13.8M

Sector Composition

Rank Sector Weight
1 Financials 28.6%
2 Communication Services 19.46%
3 Consumer Discretionary 16.43%
4 Industrials 15.33%
5 Technology 11.14%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CPRT icon
51
Copart
CPRT
$31.3B
$233K 0.01%
8,274
-19,210
-70% -$620K
BIRK icon
52
Birkenstock
BIRK
$5.89B
– –
-27,392
Closed -$981K
MTB icon
53
M&T Bank
MTB
$34.7B
– –
-7,535
Closed -$1.56M
NVO
54
Novo Nordisk
NVO
$207B
– –
-12,400
Closed -$456K
ODFL icon
55
Old Dominion Freight Line
ODFL
$42.8B
– –
-5,006
Closed -$978K
QQQM icon
56
Invesco NASDAQ 100 ETF
QQQM
$103B
– –
-4,222
Closed -$1M
RSP icon
57
Invesco S&P 500 Equal Weight ETF
RSP
$99.5B
– –
-6,105
Closed -$1.17M
SITE icon
58
SiteOne Landscape Supply
SITE
$4.19B
– –
-3,753
Closed -$500K
1 2
3

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Francois Rochon's Q2 2026 Portfolio in Review

As of Q2 2026, Francois Rochon held 58 positions worth $2.97B, up 8.9% from $2.73B the previous quarter. Its ten largest holdings account for 52% of the portfolio.

Francois Rochon's Q2 2026 filing shows 7 new, 11 increased, 31 reduced and 7 closed positions. Its largest new stake was New York Times: 484,424 shares worth $33.9M. The largest sale was Berkshire Hathaway Class B, an estimated $62.6M.

By sector, the portfolio is most concentrated in Financials at 29% of assets, down from 32% a quarter earlier, followed by Communication Services and Consumer Discretionary.

  • Francois Rochon's largest Q2 2026 buy was New York Times: 484,424 shares worth $33.9M.
  • Francois Rochon added most to Automatic Data Processing in Q2 2026, an estimated $50.3M increase.
  • Francois Rochon's biggest Q2 2026 reduction was Berkshire Hathaway Class B, cutting an estimated $62.6M.
  • Francois Rochon fully exited M&T Bank in Q2 2026, selling an estimated $1.56M.
  • Francois Rochon's ten largest holdings make up 52% of its $2.97B portfolio in Q2 2026.
  • Francois Rochon opened 7 new positions and closed 7 in Q2 2026.
  • Francois Rochon's portfolio value rose 8.9% quarter-over-quarter to $2.97B.

Based on Giverny Capital's 13F filing for Q2 2026, filed 14 Aug 2026.