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Francois Rochon Giverny Capital
AUM
$2.92B
Turnover
11.11%
1-Year Est. Return
9.57%
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
+2.99%
1 Year Est. Return
+9.57%
3 Year Est. Return
+83.95%
5 Year Est. Return
+97.96%
10 Year Est. Return
+397.49%
AUM
$537M
AUM Growth
+$22.3M
(+4.3%)
Cap. Flow
+$8.85M
Cap. Flow % of AUM
Cap. Flow %
1.65%
Top 10 Holdings %
Top 10 Hldgs %
74.97%
Holding
26
New
2
Increased
15
Reduced
3
Closed
–
Avg Time Held
1.2
years
Top 10 Avg Time Held
1.2
years
Top 20 Avg Time Held
1.2
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
HEICO Corp Class A
HEI.A
|
+$6.02M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$4.72M |
| 3 |
Berkshire Hathaway Class B
BRK.B
|
+$1.73M |
| 4 |
Walt Disney
DIS
|
+$1.12M |
| 5 |
Wells Fargo
WFC
|
+$908K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
KNGT
KNIGHT TRANSPORTATION INC
KNGT
|
+$5.71M |
| 2 |
Alphabet (Google) Class C
GOOG
|
+$3.78M |
| 3 |
Union Pacific
UNP
|
+$17.5K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 43.75% |
| 2 | Consumer Discretionary | 26.71% |
| 3 | Industrials | 17.85% |
| 4 | Communication Services | 10.47% |
| 5 | Miscellaneous | 1.19% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Berkshire Hathaway Class B
BRK.B
$1.26T
| $95.1M | 17.69% |
658,180
+11,823
| +2% | +$1.73M |
2015 Q1
6 quarters
|
|
2
LKQ Corp
LKQ
$4.91B
| $45.2M | 8.4% |
1,273,741
+14,525
| +1% | +$504K |
2015 Q1
6 quarters
|
|
3
CarMax
KMX
$7.55B
| $44.9M | 8.36% |
842,196
+3,312
| +0.4% | +$188K |
2015 Q1
6 quarters
|
|
4
Bank OZK
OZK
$5.47B
| $43.5M | 8.09% |
1,132,037
+8,480
| +0.8% | +$321K |
2015 Q1
6 quarters
|
|
|
5
Walt Disney
DIS
$205B
| $38.8M | 7.22% |
417,882
+11,699
| +3% | +$1.12M |
2015 Q1
6 quarters
|
|
6
Ametek
AME
$55.5B
| $37.9M | 7.05% |
792,893
+12,838
| +2% | +$612K |
2015 Q2
5 quarters
|
|
7
Visa
V
$794B
| $25.5M | 4.75% |
308,447
+265
| +0.1% | +$21.2K |
2015 Q1
6 quarters
|
|
8
Markel Group
MKL
$24.2B
| $24.9M | 4.63% |
26,785
+143
| +0.5% | +$133K |
2015 Q1
6 quarters
|
|
|
9
Union Pacific
UNP
$180B
| $24.6M | 4.57% |
251,977
-187
| -0.1% | -$17.5K |
2015 Q1
6 quarters
|
|
|
10
Wells Fargo
WFC
$258B
| $22.7M | 4.21% |
511,575
+18,971
| +4% | +$908K |
2015 Q1
6 quarters
|
|
11
O'Reilly Automotive
ORLY
$73.9B
| $22.5M | 4.2% |
1,207,530
+14,130
| +1% | +$265K |
2015 Q1
6 quarters
|
|
12
M&T Bank
MTB
$31.7B
| $22.1M | 4.12% |
190,537
+3,089
| +2% | +$359K |
2015 Q1
6 quarters
|
|
13
Mohawk Industries
MHK
$8.57B
| $19.8M | 3.68% |
98,635
+3,368
| +4% | +$692K |
2015 Q1
6 quarters
|
|
14
Fortune Brands Innovations
FBIN
$5.69B
| $17.3M | 3.22% |
348,782
+13,240
| +4% | +$692K |
2016 Q1
2 quarters
|
|
|
15
Alphabet (Google) Class C
GOOG
$3.6T
| $12.6M | 2.34% |
324,140
-99,660
| -24% | -$3.78M |
2015 Q1
6 quarters
|
|
|
BWLD
16
DELISTED
Buffalo Wild Wings, Inc.
BWLD
| $11.1M | 2.07% |
79,106
+381
| +0.5% | +$59.3K |
2015 Q1
6 quarters
|
|
17
DELISTED
Stericycle Inc
SRCL
| $8.29M | 1.54% |
103,401
+149
| +0.1% | +$13.5K |
2015 Q3
4 quarters
|
|
|
18
HEICO Corp Class A
HEI.A
$35.4B
| $6.4M | 1.19% |
+258,328
| New | +$6.02M |
2016 Q3
0 quarters
|
|
|
KNGT
19
DELISTED
KNIGHT TRANSPORTATION INC
KNGT
| $6.39M | 1.19% |
222,808
-199,148
| -47% | -$5.71M |
2015 Q2
5 quarters
|
|
|
20
Alphabet (Google) Class A
GOOGL
$3.64T
| $4.86M | 0.9% |
+120,760
| New | +$4.72M |
2016 Q3
0 quarters
|
|
21
Stantec
STN
$9.6B
| $1.32M | 0.25% |
56,352
| – | – |
2015 Q1
6 quarters
|
|
22
JPMorgan Chase
JPM
$919B
| $824K | 0.15% |
12,379
| – | – |
2016 Q2
1 quarter
|
|
23
Brookfield
BN
$91.5B
| $461K | 0.09% |
36,705
| – | – |
2015 Q1
6 quarters
|
|
24
Balchem Corp
BCPC
$5.52B
| $176K | 0.03% |
2,266
| – | – |
2016 Q1
2 quarters
|
|
25
Fastenal
FAST
$63.3B
| $170K | 0.03% |
16,308
| – | – |
2015 Q1
6 quarters
|
|
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Francois Rochon's Q3 2016 Portfolio in Review
As of Q3 2016, Francois Rochon held 26 positions worth $537M, up 4.3% from $515M the previous quarter. Its ten largest holdings account for 75% of the portfolio.
Francois Rochon's Q3 2016 filing shows 2 new, 15 increased and 3 reduced positions. Its largest new stake was HEICO Corp Class A: 258,328 shares worth $6.4M. The largest sale was KNIGHT TRANSPORTATION INC, an estimated $5.71M.
By sector, the portfolio is most concentrated in Financials at 44% of assets, down from 45% a quarter earlier, followed by Consumer Discretionary and Industrials.
- Francois Rochon's largest Q3 2016 buy was HEICO Corp Class A: 258,328 shares worth $6.4M.
- Francois Rochon added most to Berkshire Hathaway Class B in Q3 2016, an estimated $1.73M increase.
- Francois Rochon's biggest Q3 2016 reduction was KNIGHT TRANSPORTATION INC, cutting an estimated $5.71M.
- Francois Rochon's ten largest holdings make up 75% of its $537M portfolio in Q3 2016.
- Francois Rochon opened 2 new positions and closed 0 in Q3 2016.
- Francois Rochon's portfolio value rose 4.3% quarter-over-quarter to $537M.
Based on Giverny Capital's 13F filing for Q3 2016, filed 8 Nov 2016.