Funds › Giverny Capital (François Rochon) › Q4 2019Giverny Capital (François Rochon) 13F holdings, Q4 2019 Giverny Capital (François Rochon) disclosed 39 US equity positions worth $1.1bn in its Q4 2019 13F filing. Its largest position is BRK/B at 18.3% of the reported book, followed by KMX and AME. Versus Q3 2019 it opened 0 new positions, added to 22, reduced 6 and exited 0.
$1.1bn Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
39 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
18.3% Largest position The largest single position as a share of the reported equity book.
66.5% Top 10 weight The ten largest positions together, as a share of the reported equity book.
14 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 Q3 2019: 0 new , 22 added , 6 reduced , 0 exited
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Stock Sector Weight Value Shares Δ shares Action BRK/B BERKSHIRE HATHAWAY INC DEL – 18.3% $202m 890,774 +2.3% added KMX CARMAX INC Consumer Cyclical 9.3% $103m 1.17m −4.3% reduced AME AMETEK INC Industrials 7.5% $83.1m 832,848 +4.4% added V VISA INC Financial Services 5.3% $59.1m 314,558 +1.6% added NVR NVR INC Consumer Cyclical 5.2% $57.5m 15,096 +4.4% added GOOG ALPHABET INC Communication Services 4.4% $48.8m 36,503 +2.5% added JPM JPMORGAN CHASE & CO Financial Services 4.3% $47.4m 340,025 +0.7% added SCHW SCHWAB CHARLES CORP Financial Services 4.1% $45.3m 951,877 +1.7% added HEI/A HEICO CORP NEW – 4.1% $44.9m 501,709 +3.4% added MKL MARKEL GROUP INC Financial Services 4.0% $44.6m 39,012 +1.8% added FBIN FORTUNE BRANDS INNOVATIONS I Industrials 3.7% $41.1m 629,314 +1.4% added KEYS KEYSIGHT TECHNOLOGIES INC Technology 3.7% $40.8m 397,970 +33% added META META PLATFORMS INC Communication Services 3.4% $37.6m 183,236 +3.6% added BAC BANK OF AMER CORP Financial Services 3.1% $34.0m 964,147 +1.9% added PGR PROGRESSIVE CORP Financial Services 2.9% $32.5m 449,389 +68% added EW EDWARDS LIFESCIENCES CORP Healthcare 2.7% $30.0m 128,515 +1.0% added UNP UNION PACIFIC CORP Industrials 2.6% $29.3m 161,944 +1.2% added DIS DISNEY WALT CO Communication Services 2.6% $28.9m 199,940 +1.6% added MTB M & T BK CORP Financial Services 2.1% $23.7m 139,368 +0.9% added LFUS LITTELFUSE INC Technology 2.0% $22.3m 116,370 +1.5% added ORLY OREILLY AUTOMOTIVE INC Consumer Cyclical 1.1% $12.1m 27,638 −1.0% reduced OZK BANK OZK LITTLE ROCK ARK Financial Services 1.1% $11.8m 386,580 −47% reduced GOOGL ALPHABET INC Communication Services 0.8% $8.5m 6,370 +10% added HCSG HEALTHCARE SVCS GROUP INC Healthcare 0.7% $7.8m 319,710 +1.2% added SPY SPDR S&P 500 ETF Trust – 0.2% $1.7m 5,295 0.0% held LULU LULULEMON ATHLETICA INC Consumer Cyclical 0.10% $1.1m 4,645 0.0% held BRK/A BERKSHIRE HATHAWAY INC DEL – 0.09% $1.0m 3 0.0% held BROOKFIELD ASSET MGMT INC no ticker – 0.07% $748k 12,938 0.0% held AAPL APPLE INC Technology 0.06% $625k 2,127 0.0% held MA MASTERCARD INC Financial Services 0.05% $580k 1,941 −4.8% reduced TJX TJX COS INC NEW Consumer Cyclical 0.05% $548k 8,972 −1.2% reduced ODFL OLD DOMINION FREIGHT LINE IN Industrials 0.05% $515k 2,712 0.0% held LIBERTY MEDIA CORP DEL no ticker – 0.04% $489k 10,630 0.0% held FIVE FIVE BELOW INC Consumer Cyclical 0.04% $460k 3,596 0.0% held LUV Southwest Airlines Co. Industrials 0.04% $451k 8,348 +93% added ROP ROPER TECHNOLOGIES INC Technology 0.04% $441k 1,245 0.0% held MHK MOHAWK INDS INC Consumer Cyclical 0.04% $439k 3,218 −35% reduced FAST FASTENAL CO Industrials 0.03% $301k 8,154 0.0% held KNX KNIGHT-SWIFT TRANSN HLDGS IN Industrials 0.03% $288k 8,046 0.0% held
Sector mix Financial Services 27.0% Unclassified 22.7% Consumer Cyclical 15.8% Industrials 14.0% Communication Services 11.2% Technology 5.8% Healthcare 3.4% 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