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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
+8.66%
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
$2.92B
AUM Growth
+$203M
Cap. Flow
+$41.9M
Cap. Flow %
1.44%
Top 10 Hldgs %
56.03%
Holding
56
New
2
Increased
37
Reduced
5
Closed
1

Top Buys

Rank Stock Value
1
SCHW
Charles Schwab
SCHW
+$51.8M
2
TWFG
TWFG Inc
TWFG
+$5.93M
3
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$4.29M
4
KNSL icon
Kinsale Capital Group
KNSL
+$4.28M
5
NVR icon
NVR
NVR
+$3.93M

Top Sells

Rank Stock Value
1
MTB icon
M&T Bank
MTB
+$63.5M
2
PGR icon
Progressive
PGR
+$2.41M
3
PMMF
iShares Prime Money Market ETF
PMMF
+$1.29M
4
COF icon
Capital One
COF
+$560K
5
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$53.2K

Sector Composition

Rank Sector Weight
1 Financials 36.11%
2 Consumer Discretionary 21.88%
3 Communication Services 15.45%
4 Industrials 13.54%
5 Technology 9.72%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DFH icon
51
Dream Finders Homes
DFH
$1.35B
$809K 0.03%
32,202
– –
SITE icon
52
SiteOne Landscape Supply
SITE
$4.19B
$454K 0.02%
3,753
– –
AMZN icon
53
Amazon
AMZN
$2.79T
$258K 0.01%
+1,174
New +$232K
COST icon
54
Costco
COST
$420B
$238K 0.01%
240
– –
ISRG icon
55
Intuitive Surgical
ISRG
$134B
$220K 0.01%
405
– –
PMMF
56
iShares Prime Money Market ETF
PMMF
$692M
– –
-12,876
Closed -$1.29M
1 2
3

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Francois Rochon's Q2 2025 Portfolio in Review

As of Q2 2025, Francois Rochon held 56 positions worth $2.92B, up 7.5% from $2.71B the previous quarter. Its ten largest holdings account for 56% of the portfolio.

Francois Rochon's Q2 2025 filing shows 2 new, 37 increased, 5 reduced and 1 closed positions. Its largest new stake was TWFG Inc: 177,848 shares worth $6.22M. The largest sale was M&T Bank, an estimated $63.5M.

By sector, the portfolio is most concentrated in Financials at 36% of assets, down from 38% a quarter earlier, followed by Consumer Discretionary and Communication Services.

  • Francois Rochon's largest Q2 2025 buy was TWFG Inc: 177,848 shares worth $6.22M.
  • Francois Rochon added most to Charles Schwab in Q2 2025, an estimated $51.8M increase.
  • Francois Rochon's biggest Q2 2025 reduction was M&T Bank, cutting an estimated $63.5M.
  • Francois Rochon fully exited iShares Prime Money Market ETF in Q2 2025, selling an estimated $1.29M.
  • Francois Rochon's ten largest holdings make up 56% of its $2.92B portfolio in Q2 2025.
  • Francois Rochon opened 2 new positions and closed 1 in Q2 2025.
  • Francois Rochon's portfolio value rose 7.5% quarter-over-quarter to $2.92B.

Based on Giverny Capital's 13F filing for Q2 2025, filed 13 Aug 2025.