Funds › Giverny Capital (François Rochon) › Q1 2020Giverny Capital (François Rochon) 13F holdings, Q1 2020 Giverny Capital (François Rochon) disclosed 41 US equity positions worth $785.2m in its Q1 2020 13F filing. Its largest position is BRK/B at 19.3% of the reported book, followed by KMX and AME. Versus Q4 2019 it opened 4 new positions, added to 8, reduced 20 and exited 2.
$785m Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
41 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
19.3% Largest position The largest single position as a share of the reported equity book.
67.5% 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 Q4 2019: 4 new , 8 added , 20 reduced , 2 exited
41 rows
Stock Sector Weight Value Shares Δ shares Action BRK/B BERKSHIRE HATHAWAY INC DEL – 19.3% $152m 830,819 −6.7% reduced KMX CARMAX INC Consumer Cyclical 7.6% $59.4m 1.10m −5.8% reduced AME AMETEK INC Industrials 6.7% $52.4m 727,694 −13% reduced V VISA INC Financial Services 6.0% $47.3m 293,788 −6.6% reduced PGR PROGRESSIVE CORP Financial Services 5.3% $41.7m 564,538 +26% added GOOG ALPHABET INC Communication Services 5.1% $39.7m 34,142 −6.5% reduced MKL MARKEL GROUP INC Financial Services 4.9% $38.2m 41,199 +5.6% added NVR NVR INC Consumer Cyclical 4.5% $35.7m 13,878 −8.1% reduced KEYS KEYSIGHT TECHNOLOGIES INC Technology 4.2% $33.1m 395,345 −0.7% reduced HEI/A HEICO CORP NEW – 3.9% $30.7m 480,490 −4.2% reduced SCHW SCHWAB CHARLES CORP Financial Services 3.8% $29.8m 887,497 −6.8% reduced JPM JPMORGAN CHASE & CO Financial Services 3.7% $29.1m 322,693 −5.1% reduced META META PLATFORMS INC Communication Services 3.6% $28.3m 169,415 −7.5% reduced BAC BANK OF AMER CORP Financial Services 3.5% $27.6m 1.30m +35% added EW EDWARDS LIFESCIENCES CORP Healthcare 2.8% $22.3m 118,426 −7.9% reduced FBIN FORTUNE BRANDS INNOVATIONS I Industrials 2.8% $21.8m 504,435 −20% reduced FIVE FIVE BELOW INC Consumer Cyclical 2.3% $18.4m 261,868 +7182% added DIS DISNEY WALT CO Communication Services 2.3% $17.7m 183,610 −8.2% reduced ATHM AUTOHOME INC Communication Services 1.6% $12.3m 173,150 – new LFUS LITTELFUSE INC Technology 1.0% $7.8m 58,570 −50% reduced GOOGL ALPHABET INC Communication Services 1.0% $7.7m 6,627 +4.0% added UNP UNION PACIFIC CORP Industrials 0.9% $7.3m 51,978 −68% reduced HCSG HEALTHCARE SVCS GROUP INC Healthcare 0.9% $7.0m 294,626 −7.8% reduced OZK BANK OZK LITTLE ROCK ARK Financial Services 0.8% $5.9m 355,481 −8.0% reduced SNBRQ SLEEP NUMBER CORP Consumer Cyclical 0.5% $4.1m 216,108 – new SPY SPDR S&P 500 ETF Trust – 0.2% $1.4m 5,295 0.0% held LULU LULULEMON ATHLETICA INC Consumer Cyclical 0.1% $880k 4,645 0.0% held BRK/A BERKSHIRE HATHAWAY INC DEL – 0.1% $816k 3 0.0% held AAPL APPLE INC Technology 0.08% $600k 2,358 +11% added ODFL OLD DOMINION FREIGHT LINE IN Industrials 0.07% $534k 4,067 +50% added MA MASTERCARD INC Financial Services 0.06% $469k 1,941 0.0% held TJX TJX COS INC NEW Consumer Cyclical 0.05% $425k 8,892 −0.9% reduced ROP ROPER TECHNOLOGIES INC Technology 0.05% $388k 1,245 0.0% held SSNC SS&C TECHNOLOGIES HLDGS INC Technology 0.04% $346k 7,895 – new BROOKFIELD ASSET MGMT INC no ticker – 0.04% $343k 11,634 −10% reduced LUV Southwest Airlines Co. Industrials 0.04% $297k 8,348 0.0% held LIBERTY MEDIA CORP DEL no ticker – 0.04% $289k 10,630 0.0% held FAST FASTENAL CO Industrials 0.04% $280k 8,954 +9.8% added DAL DELTA AIR LINES INC Industrials 0.03% $265k 9,296 – new KNX KNIGHT-SWIFT TRANSN HLDGS IN Industrials 0.03% $264k 8,046 0.0% held MHK MOHAWK INDS INC Consumer Cyclical 0.03% $245k 3,218 0.0% held
Exited since Q4 2019 2 rows
Stock Prior weight Prior value MTB M & T BK CORP 2.1% $23.7m ORLY OREILLY AUTOMOTIVE INC 1.1% $12.1m
Sector mix Financial Services 28.0% Unclassified 23.6% Consumer Cyclical 15.2% Communication Services 13.5% Industrials 10.6% Technology 5.4% Healthcare 3.7% 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