Giverny Capital (Francois Rochon) latest 13F portfolio: 51 holdings worth $2.7B as of Q1 2026.
Backtested since 2020: mirroring Giverny Capital's reported 13F equity holdings each quarter would have returned +131.0% versus +176.2%for the S&P 500 (+14.5% annualized). See the Performance tab for the full equity curve.
Investor: Francois Rochon
Number of Assets: 51
Reporting Period: Q1 - 2026
Holdings at Report: $2,731,351,278
Return $ Since Report: +$253,586,901
Return % Since Report: +9.28%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| Novo Nordisk As (NVO) | Equity | 0% | 12,400 | 0.02% | $36.75 | $47.35 | $455,700 | $587,078 | +$131,378 | +28.83% |
| Heico Corp. (HEI-A) | Equity | -2.13% | 738,482 | 5.71% | $211.09 | $265.34 | $155,886,165 | $195,945,121 | +$40,058,956 | +25.70% |
| Markel Group Inc. (MKL) | Equity | -2.35% | 42,944 | 3.01% | $1,914.07 | $1,884.41 | $82,197,822 | $80,923,888 | -$1,273,934 | -1.55% |
| Installed Building Products Inc. (IBP) | Equity | -22.26% | 403,665 | 3.92% | $265.15 | $235.79 | $107,031,775 | $95,180,170 | -$11,851,605 | -11.07% |
| The Progressive Corp. (PGR) | Equity | -1.58% | 528,364 | 3.83% | $198.24 | $209.45 | $104,742,879 | $110,665,840 | +$5,922,961 | +5.65% |
| Bright Horizons Family Solutions Inc. (BFAM) | Equity | +80.97% | 742,329 | 2.23% | $82.13 | $75.84 | $60,967,481 | $56,298,231 | -$4,669,250 | -7.66% |
| Bank Ozk (OZK) | Equity | -2.61% | 1,231,059 | 2.07% | $45.89 | $52.16 | $56,493,298 | $64,212,037 | +$7,718,739 | +13.66% |
| Builders Firstsource Inc. (BLDR) | Equity | +2.03% | 91,813 | 0.28% | $82.33 | $74.57 | $7,558,964 | $6,846,495 | -$712,469 | -9.43% |
| Taiwan Semiconductor Manufacturing Company Limited (TSM) | Equity | -49.44% | 8,125 | 0.10% | $337.95 | $416.68 | $2,745,844 | $3,385,484 | +$639,640 | +23.29% |
| Yum China Holdings Inc. (YUMC) | Equity | 0% | 36,036 | 0.06% | $48.78 | $47.93 | $1,757,836 | $1,727,205 | -$30,631 | -1.74% |
| SPDR Gold Shares (GLD) | Equity | 0% | 3,876 | 0.06% | $430.29 | $374.62 | $1,667,804 | $1,452,027 | -$215,777 | -12.94% |
| SPDR S&P 500 ETF Trust (SPY) | Equity | 0% | 2,474 | 0.06% | $650.34 | $768.29 | $1,608,941 | $1,900,749 | +$291,808 | +18.14% |
| M&T Bank Corp. (MTB) | Equity | -0.07% | 7,535 | 0.06% | $206.72 | $253.44 | $1,557,635 | $1,909,670 | +$352,035 | +22.60% |
| Invesco S&P 500 Equal Weight ETF (RSP) | Equity | +100% | 6,105 | 0.04% | $191.92 | $219.09 | $1,171,672 | $1,337,514 | +$165,842 | +14.15% |
| Invesco Nasdaq 100 ETF (QQQM) | Equity | +100% | 4,222 | 0.04% | $237.62 | $295.98 | $1,003,232 | $1,249,606 | +$246,374 | +24.56% |
| Ametek Inc. (AME) | Equity | -37.51% | 612,058 | 4.80% | $214.36 | $248.99 | $131,200,753 | $152,396,321 | +$21,195,568 | +16.16% |
| Visa Inc. (V) | Equity | -2.70% | 396,357 | 4.39% | $302.24 | $368.62 | $119,794,940 | $146,105,117 | +$26,310,177 | +21.96% |
| Automatic Data Processing Inc. (ADP) | Equity | +100% | 419,090 | 3.12% | $203.18 | $267.98 | $85,150,706 | $112,307,738 | +$27,157,032 | +31.89% |
| Resmed Inc. (RMD) | Equity | -2.29% | 230,005 | 1.89% | $224.48 | $219.52 | $51,631,522 | $50,490,698 | -$1,140,824 | -2.21% |
| Brown & Brown Inc. (BRO) | Equity | -2.23% | 755,269 | 1.80% | $65.21 | $71.20 | $49,251,091 | $53,776,663 | +$4,525,572 | +9.19% |
| Littelfuse Inc. (LFUS) | Equity | -1.06% | 80,719 | 1.00% | $339.35 | $461.49 | $27,391,993 | $37,251,011 | +$9,859,018 | +35.99% |
| Lululemon Athletica Inc. (LULU) | Equity | -1.13% | 142,600 | 0.80% | $153.10 | $123.27 | $21,832,060 | $17,577,589 | -$4,254,471 | -19.49% |
| Sunbelt Rentals Holdings INC (SUNB) | Equity | +100% | 270,843 | 0.65% | $65.09 | $79.05 | $17,629,171 | $21,410,139 | +$3,780,968 | +21.45% |
| JP Morgan Chase & Co. (JPM) | Equity | +0.89% | 52,298 | 0.56% | $294.16 | $361.21 | $15,383,980 | $18,890,561 | +$3,506,581 | +22.79% |
| Mastercard Inc. (MA) | Equity | -2.41% | 28,066 | 0.51% | $499.66 | $571.10 | $14,023,458 | $16,028,493 | +$2,005,035 | +14.30% |
| Floor & Decor Holdings Inc. (FND) | Equity | -1.72% | 231,829 | 0.43% | $50.80 | $60.55 | $11,776,913 | $14,036,087 | +$2,259,174 | +19.18% |
| TWFG Inc. (TWFG) | Equity | +66.54% | 552,107 | 0.37% | $18.39 | $27.13 | $10,153,248 | $14,978,663 | +$4,825,415 | +47.53% |
| Ferguson Enterprises Inc. (FERG) | Equity | +0.97% | 36,728 | 0.31% | $233.26 | $254.00 | $8,567,173 | $9,328,912 | +$761,739 | +8.89% |
| Apple Inc. (AAPL) | Equity | -8.95% | 15,040 | 0.14% | $253.79 | $306.18 | $3,817,002 | $4,604,947 | +$787,945 | +20.64% |
| Berkshire Hathaway Inc. (BRK-B) | Equity | -25.17% | 378,625 | 6.64% | $479.20 | $513.97 | $181,437,100 | $194,599,998 | +$13,162,898 | +7.25% |
| Alphabet Inc. (GOOG) | Equity | -2.91% | 620,909 | 6.52% | $286.86 | $372.90 | $178,113,956 | $231,533,862 | +$53,419,906 | +29.99% |
| Meta Platforms Inc. (META) | Equity | -1.80% | 307,821 | 6.45% | $572.13 | $582.63 | $176,113,629 | $179,344,210 | +$3,230,581 | +1.83% |
| Five Below Inc. (FIVE) | Equity | -3.22% | 617,191 | 5.16% | $228.48 | $219.66 | $141,015,800 | $135,572,175 | -$5,443,625 | -3.86% |
| Medpace Holdings Inc. (MEDP) | Equity | -2.75% | 256,081 | 4.50% | $480.19 | $570.62 | $122,967,535 | $146,124,940 | +$23,157,405 | +18.83% |
| Keysight Technologies Inc. (KEYS) | Equity | -3.25% | 323,184 | 3.34% | $282.37 | $340.24 | $91,257,466 | $109,958,508 | +$18,701,042 | +20.49% |
| Kinsale Capital Group Inc. (KNSL) | Equity | +2.18% | 218,942 | 2.74% | $341.66 | $363.62 | $74,803,724 | $79,611,690 | +$4,807,966 | +6.43% |
| Aaon Inc. (AAON) | Equity | +100% | 201,832 | 0.61% | $82.75 | $95.24 | $16,701,598 | $19,222,480 | +$2,520,882 | +15.09% |
| Ishares U.S. Home Construction ETF (ITB) | Equity | -7.21% | 10,854 | 0.04% | $90.55 | $98.88 | $982,830 | $1,073,244 | +$90,414 | +9.20% |
| Birkenstock Holding PLC (BIRK) | Equity | 0% | 27,392 | 0.04% | $35.83 | $38.34 | $981,455 | $1,050,072 | +$68,617 | +6.99% |
| Old Dominion Freight Line Inc. (ODFL) | Equity | -4.74% | 5,006 | 0.04% | $195.40 | $216.27 | $978,172 | $1,082,648 | +$104,476 | +10.68% |
| The Charles Schwab Corp. (SCHW) | Equity | -3.12% | 1,536,206 | 5.29% | $93.98 | $106.18 | $144,372,640 | $163,114,353 | +$18,741,713 | +12.98% |
| Alphabet Inc. (GOOGL) | Equity | -3.58% | 348,469 | 3.67% | $287.56 | $375.42 | $100,205,746 | $130,822,232 | +$30,616,486 | +30.55% |
| NVR Inc. (NVR) | Equity | -3.30% | 13,647 | 3.29% | $6,589.83 | $6,251.09 | $89,931,410 | $85,308,584 | -$4,622,826 | -5.14% |
| Booking Holdings Inc. (BKNG) | Equity | -1.53% | 21,117 | 3.26% | $4,210.32 | $194.08 | $88,909,327 | $4,098,387 | -$84,810,940 | -95.39% |
| Analog Devices Inc. (ADI) | Equity | -3.22% | 171,052 | 1.99% | $318.14 | $376.94 | $54,418,483 | $64,476,341 | +$10,057,858 | +18.48% |
| Arista Networks Inc. (ANET) | Equity | +1.00% | 423,361 | 1.90% | $122.78 | $193.15 | $51,981,534 | $81,772,177 | +$29,790,643 | +57.31% |
| The Walt Disney Company (DIS) | Equity | -1.45% | 536,514 | 1.89% | $96.38 | $98.33 | $51,709,219 | $52,755,422 | +$1,046,203 | +2.02% |
| Berkshire Hathaway Inc. (BRK-A) | Equity | 0% | 11 | 0.29% | $718,140.00 | $770,870.00 | $7,899,540 | $8,479,570 | +$580,030 | +7.34% |
| Copart Inc. (CPRT) | Equity | 0% | 27,484 | 0.03% | $33.20 | $29.25 | $912,469 | $803,770 | -$108,699 | -11.91% |
| Microsoft Corp. (MSFT) | Equity | +12.09% | 1,910 | 0.03% | $370.17 | $496.99 | $707,025 | $949,241 | +$242,216 | +34.26% |
| Siteone Landscape Supply Inc. (SITE) | Equity | 0% | 3,753 | 0.02% | $133.11 | $101.31 | $499,562 | $380,216 | -$119,346 | -23.89% |