François Rochon

Net selling

Giverny Capital Inc. — managed by François Rochon; US equity positions disclosed quarterly via SEC 13F

Data as of 2026-06-30 (filed 2026-08-14) · Source: SEC EDGAR

Portfolio value$2.97B (+9%)

Holdings51

Top holdingAlphabet Inc C

Below band3

New

Added

Exited

By what price implies: 20 demand a demanding growth rate, 9 modest.

13F × valuation

Valuation posture

Of 33 valued US positions, 3 trade below a conservative value band (1 in the strike zone) (as of 2026-08-25):

Lululemon Athletica IncLULU45% · strike
Resmed IncRMD12% · below
Copart IncCPRT10% · below

13F · concentration

Lonely conviction

Held by ≤2 tracked superinvestors, each ≥3% of this portfolio (as of 2026-06-30):

Installed Bldg Prods IncIBP3% · 2

SEC 13F · latest filing

Holdings

Security	Value	Valuation	Holders	Shares	Weight	Signal
Alphabet Inc CGOOG	$213.9M	—	37	605,460	7.2%	Core 8q
Heico CorpHEI.A	$189.6M	—	6	735,248	6.4%	Core 8q
Meta Platforms IncMETA	$170.6M	—	35	302,888	5.7%	Core 8q
Schwab Charles CorpSCHW	$155.2M	—	12	1,681,567	5.2%	Big new
Automatic Data Proc IncADP	$146.6M	—	4	654,556	4.9%	Big new
Ametek IncAME	$144.9M	—	4	598,781	4.9%	—
Medpace Holdings IncMEDP	$134.5M	—	7	253,931	4.5%	—
Visa IncV	$133.8M	—	32	389,900	4.5%	—
Berkshire Hathaway IncBRK.B	$124.3M	—	27	248,447	4.2%	—
Progressive CorpPGR	$118.5M	—	10	542,292	4.0%	Big new
Alphabet IncGOOGL	$110.8M	—	41	310,118	3.7%	—
Five Below IncFIVE	$107.5M	—	3	598,122	3.6%	—
Booking Holdings IncBKNG	$93.2M	—	7	522,664	3.1%	Big new
Installed Bldg Prods IncIBP	$91.4M	—	2	397,662	3.1%	—
Nvr IncNVR	$90.2M	—	4	13,238	3.0%	—
Kinsale Capital Group InKNSL	$79.4M	—	3	240,731	2.7%	Adding 7q
Bright Horizonsfamily SolutionBFAM	$76.6M	—	2	1,080,793	2.6%	Adding 3q
Resmed IncRMD	$75.5M	Below value	2	387,665	2.5%	—
Bank Ozk Little Rock ArkOZK	$62.4M	—	3	1,198,116	2.1%	—
Markel CorpMKL	$60.3M	—	6	30,877	2.0%	—
Arista Networks IncANET	$57.7M	—	4	339,892	1.9%	—
Keysight Technologies IncKEYS	$50.1M	—	6	143,072	1.7%	—
Disney Walt CoDIS	$49.6M	—	22	515,567	1.7%	—
Brown & BrownBRO	$48.3M	—	5	753,288	1.6%	—
Analog Devices IncADI	$37.1M	—	12	93,310	1.2%	—

Alphabet Inc CGOOGCore 8q
Value$213.9MValuation—Holders37Weight7.2%
Heico CorpHEI.ACore 8q
Value$189.6MValuation—Holders6Weight6.4%
Meta Platforms IncMETACore 8q
Value$170.6MValuation—Holders35Weight5.7%
Schwab Charles CorpSCHWBig new
Value$155.2MValuation—Holders12Weight5.2%
Automatic Data Proc IncADPBig new
Value$146.6MValuation—Holders4Weight4.9%
Ametek IncAME—
Value$144.9MValuation—Holders4Weight4.9%
Medpace Holdings IncMEDP—
Value$134.5MValuation—Holders7Weight4.5%
Visa IncV—
Value$133.8MValuation—Holders32Weight4.5%
Berkshire Hathaway IncBRK.B—
Value$124.3MValuation—Holders27Weight4.2%
Progressive CorpPGRBig new
Value$118.5MValuation—Holders10Weight4.0%
Alphabet IncGOOGL—
Value$110.8MValuation—Holders41Weight3.7%
Five Below IncFIVE—
Value$107.5MValuation—Holders3Weight3.6%
Booking Holdings IncBKNGBig new
Value$93.2MValuation—Holders7Weight3.1%
Installed Bldg Prods IncIBP—
Value$91.4MValuation—Holders2Weight3.1%
Nvr IncNVR—
Value$90.2MValuation—Holders4Weight3.0%
Kinsale Capital Group InKNSLAdding 7q
Value$79.4MValuation—Holders3Weight2.7%
Bright Horizonsfamily SolutionBFAMAdding 3q
Value$76.6MValuation—Holders2Weight2.6%
Resmed IncRMD—
Value$75.5MValuationBelow valueHolders2Weight2.5%
Bank Ozk Little Rock ArkOZK—
Value$62.4MValuation—Holders3Weight2.1%
Markel CorpMKL—
Value$60.3MValuation—Holders6Weight2.0%
Arista Networks IncANET—
Value$57.7MValuation—Holders4Weight1.9%
Keysight Technologies IncKEYS—
Value$50.1MValuation—Holders6Weight1.7%
Disney Walt CoDIS—
Value$49.6MValuation—Holders22Weight1.7%
Brown & BrownBRO—
Value$48.3MValuation—Holders5Weight1.6%
Analog Devices IncADI—
Value$37.1MValuation—Holders12Weight1.2%

Showing top 25 of 51 positions

Exited this quarter (7)M & T Bk Corp、Invesco S&P500 Eq Wgt Etf、Invesco Exch Traded Fd Tr Ii、Birkenstock Hldg Plc、Old Dominion Freight Line In、Siteone Landscape Supply Inc、Novo-Nordisk A S

What is a superinvestor

About this investor

Portfolio overview

Giverny Capital Inc.'s most recent 13F filing, for the quarter ended 2026-06-30, reports 51 positions worth $2.97B. The top 5 holdings represent 29% of that value, a broadly diversified portfolio.

The single largest position is Alphabet Inc C at 7.2% of the portfolio, followed by Heico Corp at 6.4% and Meta Platforms Inc at 5.7%.

Against the prior quarter, François Rochon opened 7 new positions, exited 7, added to 12, and trimmed 30. The largest new buy was New York Times Co-A-. The most notable sale was the full exit from Birkenstock Hldg Plc.

Across all 8 quarters on file, Alphabet Inc C has appeared in every filing, as has Heico Corp. Alphabet Inc C currently ranks first by value.

A 13F is filed roughly 45 days after quarter-end and covers only long positions in US-listed equities, so it is a lagging and partial view of the portfolio. Source: SEC EDGAR.

François Rochon holds 1 position now in the strike zone. See the full strike-zone list

Sources· SEC EDGAR 13F as of 2026-06-30 · filed 2026-08-14

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