Funds › Giverny Capital (François Rochon) › Q3 2021Giverny Capital (François Rochon) 13F holdings, Q3 2021 Giverny Capital (François Rochon) disclosed 59 US equity positions worth $1.7bn in its Q3 2021 13F filing. Its largest position is BRK/B at 12.2% of the reported book, followed by KMX and GOOG. Versus Q2 2021 it opened 5 new positions, added to 28, reduced 7 and exited 3.
$1.7bn Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
59 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
12.2% Largest position The largest single position as a share of the reported equity book.
61.3% Top 10 weight The ten largest positions together, as a share of the reported equity book.
19 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 Q2 2021: 5 new , 28 added , 7 reduced , 3 exited
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Stock Sector Weight Value Shares Δ shares Action BRK/B BERKSHIRE HATHAWAY INC DEL – 12.2% $204m 747,544 +1.6% added KMX CARMAX INC Consumer Cyclical 8.8% $148m 1.16m +4.4% added GOOG ALPHABET INC Communication Services 6.3% $106m 39,741 +3.1% added AME AMETEK INC Industrials 5.7% $95.0m 766,249 +3.4% added MKL MARKEL GROUP INC Financial Services 5.3% $88.7m 74,212 +4.1% added META META PLATFORMS INC Communication Services 5.0% $84.2m 248,158 +5.9% added SCHW SCHWAB CHARLES CORP Financial Services 4.9% $81.5m 1.12m +4.8% added V VISA INC Financial Services 4.4% $73.7m 331,063 −0.6% reduced NVR NVR INC Consumer Cyclical 4.4% $73.7m 15,376 +1.9% added PGR PROGRESSIVE CORP Financial Services 4.3% $72.4m 800,896 +3.9% added KEYS KEYSIGHT TECHNOLOGIES INC Technology 4.2% $70.7m 430,380 +1.4% added HEI/A HEICO CORP NEW – 4.2% $70.6m 595,976 +3.0% added JPM JPMORGAN CHASE & CO Financial Services 3.7% $62.5m 381,770 +5.0% added FIVE FIVE BELOW INC Consumer Cyclical 3.5% $59.0m 333,458 +5.7% added BAC BANK OF AMER CORP Financial Services 3.4% $57.3m 1.35m +0.2% held FBIN FORTUNE BRANDS INNOVATIONS I Industrials 3.0% $50.0m 558,812 +2.2% added EW EDWARDS LIFESCIENCES CORP Healthcare 2.7% $45.5m 402,150 −0.8% reduced ICE INTERCONTINENTAL EXCHANGE IN Financial Services 2.2% $36.3m 315,808 +5.8% added DIS DISNEY WALT CO Communication Services 2.0% $33.9m 200,300 −0.7% reduced SNBRQ SLEEP NUMBER CORP Consumer Cyclical 1.9% $32.4m 347,091 0.0% held GOOGL ALPHABET INC Communication Services 1.5% $25.2m 9,429 +3.3% added ATHM AUTOHOME INC Communication Services 1.0% $17.3m 368,701 +6.6% added CACC CREDIT ACCEP CORP MICH Financial Services 0.6% $9.9m 16,986 +75% added HCSG HEALTHCARE SVCS GROUP INC Healthcare 0.6% $9.3m 370,166 0.0% held SSNC SS&C TECHNOLOGIES HLDGS INC Technology 0.5% $8.5m 122,870 +50% added ANET ARISTA NETWORKS INC Technology 0.5% $8.3m 24,148 +51% added OZK BANK OZK LITTLE ROCK ARK Financial Services 0.5% $7.7m 178,572 −0.3% held LBRDAEUR LIBERTY BROADBAND CORP – 0.4% $6.0m 35,455 – new FRCB FIRST REP BK SAN FRANCISCO C Financial Services 0.3% $5.2m 26,944 +48% added MA MASTERCARD INC Financial Services 0.3% $4.6m 13,199 +44% added II-VI INC no ticker – 0.2% $3.8m 64,414 – new BRK/A BERKSHIRE HATHAWAY INC DEL – 0.2% $3.3m 8 0.0% held AMZN AMAZON COM INC Consumer Cyclical 0.1% $2.3m 703 +51% added SPY SPDR S&P 500 ETF Trust – 0.1% $2.1m 4,852 0.0% held LULU LULULEMON ATHLETICA INC Consumer Cyclical 0.1% $1.9m 4,615 0.0% held AAPL APPLE INC Technology 0.10% $1.6m 11,438 −3.2% reduced UNH UNITEDHEALTH GROUP INC Healthcare 0.09% $1.5m 3,820 – new TSM TAIWAN SEMICONDUCTOR MANUFAC Technology 0.08% $1.4m 12,448 +51% added W WAYFAIR INC Consumer Cyclical 0.08% $1.4m 5,439 – new ODFL OLD DOMINION FREIGHT LINE IN Industrials 0.07% $1.2m 4,067 0.0% held MSFT MICROSOFT CORP Technology 0.06% $1.0m 3,578 0.0% held BROOKFIELD ASSET MGMT INC no ticker – 0.05% $909k 16,989 0.0% held LFUS LITTELFUSE INC Technology 0.05% $757k 2,770 −0.6% reduced BABA ALIBABA GROUP HLDG LTD Consumer Cyclical 0.04% $737k 4,976 – new MTB M & T BK CORP Financial Services 0.04% $699k 4,683 0.0% held SBUX STARBUCKS CORP Consumer Cyclical 0.04% $698k 6,327 0.0% held ROP ROPER TECHNOLOGIES INC Technology 0.04% $651k 1,460 +9.4% added TJX TJX COS INC NEW Consumer Cyclical 0.04% $629k 9,539 +15% added NVO NOVO-NORDISK A S Healthcare 0.04% $595k 6,200 0.0% held FAST FASTENAL CO Industrials 0.03% $501k 9,704 +8.4% added
Exited since Q2 2021 3 rows
Stock Prior weight Prior value 8L8C LIBERTY BROADBAND CORP 0.2% $3.6m JECUSD JACOBS ENGR GROUP INC 0.09% $1.5m NGDN NEW GOLD INC CDA 0.0% $54.0k
Sector mix Financial Services 29.8% Consumer Cyclical 19.1% Unclassified 17.4% Communication Services 15.9% Industrials 8.8% Technology 5.6% 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