Funds › Giverny Capital (François Rochon) › Q1 2018Giverny Capital (François Rochon) 13F holdings, Q1 2018 Giverny Capital (François Rochon) disclosed 35 US equity positions worth $746.9m in its Q1 2018 13F filing. Its largest position is BRK/B at 19.8% of the reported book, followed by KMX and BANK OF THE OZARKS. Versus Q4 2017 it opened 0 new positions, added to 18, reduced 2 and exited 0.
$747m Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
35 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
19.8% Largest position The largest single position as a share of the reported equity book.
71.8% Top 10 weight The ten largest positions together, as a share of the reported equity book.
13 Effective positions 1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
46 Quarters on file since Q1 2015 Quarters for which this manager's 13F holdings are on record. Holdings Against Q4 2017: 0 new , 18 added , 2 reduced , 0 exited
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Stock Sector Weight Value Shares Δ shares Action BRK/B BERKSHIRE HATHAWAY INC DEL – 19.8% $148m 739,628 +3.3% added KMX CARMAX INC Consumer Cyclical 9.1% $67.6m 1.09m +5.7% added BANK OF THE OZARKS no ticker – 8.0% $59.9m 1.24m +2.1% added AME AMETEK INC Industrials 7.1% $53.1m 699,243 +2.4% added V VISA INC Financial Services 5.4% $40.4m 338,076 +1.0% added MKL MARKEL GROUP INC Financial Services 5.0% $37.1m 31,666 +3.1% added UNP UNION PACIFIC CORP Industrials 4.8% $36.1m 268,271 +0.3% held LKQ LKQ CORP Consumer Cyclical 4.8% $35.9m 945,522 +3.2% added GOOG ALPHABET INC Communication Services 4.1% $30.3m 29,320 +5.3% added DIS DISNEY WALT CO Communication Services 3.8% $28.7m 285,311 +6.8% added HEI/A HEICO CORP NEW – 3.5% $26.1m 367,927 +25% added MHK MOHAWK INDS INC Consumer Cyclical 3.3% $24.8m 106,911 +2.9% added EW EDWARDS LIFESCIENCES CORP Healthcare 3.2% $23.9m 171,166 +5.9% added ORLY OREILLY AUTOMOTIVE INC Consumer Cyclical 3.1% $23.2m 93,822 +1.1% added CACC CREDIT ACCEP CORP MICH Financial Services 2.8% $21.1m 63,981 +7.7% added MTB M & T BK CORP Financial Services 2.8% $20.6m 111,504 +0.6% added LIBERTY MEDIA CORP DEL no ticker – 2.7% $20.1m 652,986 +2.4% added FBIN FORTUNE BRANDS INNOVATIONS I Industrials 2.4% $18.2m 308,299 +0.3% held WFC WELLS FARGO & CO Financial Services 2.4% $17.7m 338,232 +1.3% added GOOGL ALPHABET INC Communication Services 0.8% $6.0m 5,737 −1.3% reduced JPM JPMORGAN CHASE & CO Financial Services 0.2% $1.6m 14,757 0.0% held SPY SPDR S&P 500 ETF Trust – 0.2% $1.4m 5,302 −0.8% reduced BRK/A BERKSHIRE HATHAWAY INC DEL – 0.1% $897k 3 0.0% held FIVE FIVE BELOW INC Consumer Cyclical 0.1% $807k 11,009 0.0% held MA MASTERCARD INC Financial Services 0.08% $561k 3,204 0.0% held STN STANTEC INC Industrials 0.07% $526k 21,329 0.0% held BROOKFIELD ASSET MGMT INC no ticker – 0.07% $505k 12,938 0.0% held TJX TJX COS INC NEW Consumer Cyclical 0.06% $446k 5,467 +155% added LULU LULULEMON ATHLETICA INC Consumer Cyclical 0.05% $410k 4,600 0.0% held LFUS LITTELFUSE INC Technology 0.04% $317k 1,523 0.0% held RYAAY RYANAIR HOLDINGS PLC Industrials 0.04% $307k 2,500 0.0% held LUV Southwest Airlines Co. Industrials 0.03% $227k 3,961 0.0% held HN9 HANESBRANDS INC – 0.03% $226k 12,264 0.0% held FAST FASTENAL CO Industrials 0.03% $223k 4,077 0.0% held BCPC BALCHEM CORP Basic Materials 0.02% $185k 2,266 0.0% held
Sector mix Unclassified 34.4% Consumer Cyclical 20.5% Financial Services 18.6% Industrials 14.5% Communication Services 8.7% Healthcare 3.2% Technology 0.04% Basic Materials 0.02% Book over time Every quarter on file (46) Where Giverny Capital (François Rochon) was early Concentration and tenure
12.8% Median largest position, all quarters The largest single position as a share of the reported equity book.
62.6% Median top 10 weight, all quarters The ten largest positions together, as a share of the reported equity book.
Concentrated Style, by median largest position
6 Median completed holding, quarters