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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
+6.47%
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
$1.64B
AUM Growth
+$149M
Cap. Flow
+$65.7M
Cap. Flow %
4%
Top 10 Hldgs %
61.79%
Holding
57
New
4
Increased
26
Reduced
11
Closed
–

Top Buys

Rank Stock Value
1
PGR icon
Progressive
PGR
+$9.41M
2
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$8.39M
3
KMX icon
CarMax
KMX
+$5.14M
4
MKL icon
Markel Group
MKL
+$3.87M
5
V icon
Visa
V
+$3.84M

Top Sells

Rank Stock Value
1
J icon
Jacobs Solutions
J
+$630K
2
CACC icon
Credit Acceptance
CACC
+$400K
3
SSNC icon
SS&C Technologies
SSNC
+$373K
4
ANET icon
Arista Networks
ANET
+$366K
5
MA icon
Mastercard
MA
+$312K

Sector Composition

Rank Sector Weight
1 Financials 42.07%
2 Consumer Discretionary 19.6%
3 Communication Services 15.91%
4 Industrials 13.91%
5 Technology 5.01%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ITB icon
51
iShares US Home Construction ETF
ITB
$2.27B
$204K 0.01%
+2,943
New +$209K
GIB icon
52
CGI
GIB
$15.5B
$192K 0.01%
+2,120
New +$188K
ISRG icon
53
Intuitive Surgical
ISRG
$134B
$124K 0.01%
405
– –
RMD icon
54
ResMed
RMD
$33.4B
$108K 0.01%
437
– –
LLY icon
55
Eli Lilly
LLY
$1.12T
$99K 0.01%
432
– –
RBA icon
56
RB Global
RBA
$16.1B
$79K ﹤0.01%
1,070
– –
NGD
57
DELISTED
New Gold Inc
NGD
$54K ﹤0.01%
+30,000
New +$56.5K
1 2
3

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Francois Rochon's Q2 2021 Portfolio in Review

As of Q2 2021, Francois Rochon held 57 positions worth $1.64B, up 10% from $1.5B the previous quarter. Its ten largest holdings account for 62% of the portfolio.

Francois Rochon deployed $65.7M of net new capital in Q2 2021, opening 4 new positions and adding to 26 existing holdings. Its largest new stake was M&T Bank: 4,683 shares worth $680K.

By sector, the portfolio is most concentrated in Financials at 42% of assets, up from 41% a quarter earlier, followed by Consumer Discretionary and Communication Services.

On the sell side, the largest reduction was Jacobs Solutions, an estimated $630K trimmed.

  • Francois Rochon's largest Q2 2021 buy was M&T Bank: 4,683 shares worth $680K.
  • Francois Rochon added most to Progressive in Q2 2021, an estimated $9.41M increase.
  • Francois Rochon's biggest Q2 2021 reduction was Jacobs Solutions, cutting an estimated $630K.
  • Francois Rochon's ten largest holdings make up 62% of its $1.64B portfolio in Q2 2021.
  • Francois Rochon opened 4 new positions and closed 0 in Q2 2021.
  • Francois Rochon's portfolio value rose 10% quarter-over-quarter to $1.64B.

Based on Giverny Capital's 13F filing for Q2 2021, filed 13 Aug 2021.