Funds › Giverny Capital (François Rochon) › Q2 2018Giverny Capital (François Rochon) 13F holdings, Q2 2018 Giverny Capital (François Rochon) disclosed 36 US equity positions worth $768.9m in its Q2 2018 13F filing. Its largest position is BRK/B at 18.5% of the reported book, followed by KMX and BANK OF THE OZARKS. Versus Q1 2018 it opened 2 new positions, added to 18, reduced 4 and exited 1.
$769m Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
36 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
18.5% Largest position The largest single position as a share of the reported equity book.
70.8% 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 Q1 2018: 2 new , 18 added , 4 reduced , 1 exited
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Stock Sector Weight Value Shares Δ shares Action BRK/B BERKSHIRE HATHAWAY INC DEL – 18.5% $142m 761,430 +2.9% added KMX CARMAX INC Consumer Cyclical 10.5% $80.7m 1.11m +1.5% added BANK OF THE OZARKS no ticker – 7.5% $57.7m 1.28m +3.3% added AME AMETEK INC Industrials 6.8% $52.0m 720,986 +3.1% added V VISA INC Financial Services 5.9% $45.5m 343,809 +1.7% added UNP UNION PACIFIC CORP Industrials 5.0% $38.7m 272,920 +1.7% added MKL MARKEL GROUP INC Financial Services 4.6% $35.0m 32,319 +2.1% added GOOG ALPHABET INC Communication Services 4.5% $34.3m 30,718 +4.8% added DIS DISNEY WALT CO Communication Services 4.0% $30.4m 290,271 +1.7% added HEI/A HEICO CORP NEW – 3.6% $28.0m 458,891 +25% added ORLY OREILLY AUTOMOTIVE INC Consumer Cyclical 3.4% $26.1m 95,478 +1.8% added EW EDWARDS LIFESCIENCES CORP Healthcare 3.3% $25.1m 172,508 +0.8% added LIBERTY MEDIA CORP DEL no ticker – 3.2% $24.4m 656,785 +0.6% added MHK MOHAWK INDS INC Consumer Cyclical 3.1% $23.5m 109,587 +2.5% added LFUS LITTELFUSE INC Technology 2.7% $20.8m 91,338 +5897% added META META PLATFORMS INC Communication Services 2.6% $20.3m 104,672 – new MTB M & T BK CORP Financial Services 2.5% $19.1m 112,212 +0.6% added WFC WELLS FARGO & CO Financial Services 2.5% $18.9m 341,577 +1.0% added FBIN FORTUNE BRANDS INNOVATIONS I Industrials 2.3% $17.9m 333,639 +8.2% added LKQ LKQ CORP Consumer Cyclical 1.6% $12.2m 382,743 −60% reduced GOOGL ALPHABET INC Communication Services 0.8% $6.5m 5,737 0.0% held JPM JPMORGAN CHASE & CO Financial Services 0.2% $1.5m 14,757 0.0% held SPY SPDR S&P 500 ETF Trust – 0.2% $1.4m 5,264 −0.7% reduced FIVE FIVE BELOW INC Consumer Cyclical 0.1% $1.1m 11,009 0.0% held BRK/A BERKSHIRE HATHAWAY INC DEL – 0.1% $846k 3 0.0% held STN STANTEC INC Industrials 0.09% $721k 21,329 0.0% held BROOKFIELD ASSET MGMT INC no ticker – 0.09% $690k 12,938 0.0% held MA MASTERCARD INC Financial Services 0.08% $619k 3,149 −1.7% reduced LULU LULULEMON ATHLETICA INC Consumer Cyclical 0.07% $574k 4,600 0.0% held TJX TJX COS INC NEW Consumer Cyclical 0.07% $520k 5,467 0.0% held CACC CREDIT ACCEP CORP MICH Financial Services 0.05% $351k 992 −98% reduced RYAAY RYANAIR HOLDINGS PLC Industrials 0.04% $286k 2,500 0.0% held HN9 HANESBRANDS INC – 0.04% $270k 12,264 0.0% held BCPC BALCHEM CORP Basic Materials 0.03% $222k 2,266 0.0% held LUV Southwest Airlines Co. Industrials 0.03% $202k 3,961 0.0% held BKNG BOOKING HOLDINGS INC Consumer Cyclical 0.01% $101k 50 – new
Exited since Q1 2018 1 row
Stock Prior weight Prior value FAST FASTENAL CO 0.03% $223k
Sector mix Unclassified 33.2% Consumer Cyclical 18.8% Financial Services 15.8% Industrials 14.3% Communication Services 11.9% Healthcare 3.3% Technology 2.7% Basic Materials 0.03% 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