Funds › Giverny Capital (François Rochon) › Q1 2022Giverny Capital (François Rochon) 13F holdings, Q1 2022 Giverny Capital (François Rochon) disclosed 63 US equity positions worth $1.8bn in its Q1 2022 13F filing. Its largest position is BRK/B at 8.7% of the reported book, followed by GOOG and MKL. Versus Q4 2021 it opened 1 new position, added to 27, reduced 8 and exited 2.
$1.8bn Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
63 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
8.7% Largest position The largest single position as a share of the reported equity book.
58.5% Top 10 weight The ten largest positions together, as a share of the reported equity book.
22 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 2021: 1 new , 27 added , 8 reduced , 2 exited
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Stock Sector Weight Value Shares Δ shares Action BRK/B BERKSHIRE HATHAWAY INC DEL – 8.7% $155m 437,906 −21% reduced GOOG ALPHABET INC Communication Services 6.6% $116m 41,581 +3.2% added MKL MARKEL GROUP INC Financial Services 6.5% $116m 78,559 +2.9% added KMX CARMAX INC Consumer Cyclical 6.3% $111m 1.15m +3.9% added AME AMETEK INC Industrials 6.1% $107m 805,918 +1.6% added SCHW SCHWAB CHARLES CORP Financial Services 5.5% $97.2m 1.15m +0.9% added HEI/A HEICO CORP NEW – 5.5% $97.0m 631,922 +2.2% added PGR PROGRESSIVE CORP Financial Services 4.6% $82.1m 719,935 −12% reduced FIVE FIVE BELOW INC Consumer Cyclical 4.4% $78.3m 494,638 +43% added V VISA INC Financial Services 4.3% $76.1m 343,052 +1.6% added NVR NVR INC Consumer Cyclical 4.0% $70.3m 15,731 +0.7% added KEYS KEYSIGHT TECHNOLOGIES INC Technology 3.9% $68.9m 435,897 +0.2% held META META PLATFORMS INC Communication Services 3.2% $57.1m 257,017 +3.5% added SSNC SS&C TECHNOLOGIES HLDGS INC Technology 2.8% $50.4m 671,348 +5.7% added MTB M & T BK CORP Financial Services 2.8% $49.3m 290,587 +2.9% added EW EDWARDS LIFESCIENCES CORP Healthcare 2.7% $47.7m 405,091 −0.2% held ICE INTERCONTINENTAL EXCHANGE IN Financial Services 2.5% $43.7m 330,909 −0.6% reduced FBIN FORTUNE BRANDS INNOVATIONS I Industrials 2.4% $43.1m 580,620 +0.5% added CIEN CIENA CORP Technology 2.2% $39.2m 645,971 +94% added JPM JPMORGAN CHASE & CO Financial Services 2.1% $37.7m 276,548 +3.5% added BAC BANK OF AMER CORP Financial Services 2.1% $36.4m 882,373 +0.5% added IBP INSTALLED BLDG PRODS INC Consumer Cyclical 1.9% $33.6m 397,624 +152% added DIS DISNEY WALT CO Communication Services 1.6% $28.7m 209,559 +0.2% held GOOGL ALPHABET INC Communication Services 1.5% $26.2m 9,426 +0.5% added SNBRQ SLEEP NUMBER CORP Consumer Cyclical 1.0% $18.3m 360,640 +0.6% added ANET ARISTA NETWORKS INC Technology 0.7% $12.3m 88,735 +1.8% added ATHM AUTOHOME INC Communication Services 0.6% $10.0m 330,427 +0.8% added OZK BANK OZK LITTLE ROCK ARK Financial Services 0.5% $8.7m 203,337 +13% added CACC CREDIT ACCEP CORP MICH Financial Services 0.5% $8.3m 15,075 +1.0% added MA MASTERCARD INC Financial Services 0.3% $5.3m 14,955 +2.8% added II-VI INC no ticker – 0.3% $5.2m 71,425 +1.9% added 8L8C LIBERTY BROADBAND CORP – 0.3% $4.7m 34,474 −6.5% reduced FRCB FIRST REP BK SAN FRANCISCO C Financial Services 0.3% $4.6m 28,270 +3.8% added BRK/A BERKSHIRE HATHAWAY INC DEL – 0.2% $4.2m 8 0.0% held AAPL APPLE INC Technology 0.1% $2.6m 14,638 −10% reduced SPY SPDR S&P 500 ETF Trust – 0.1% $2.2m 4,770 −5.2% reduced LULU LULULEMON ATHLETICA INC Consumer Cyclical 0.10% $1.7m 4,615 0.0% held UNH UNITEDHEALTH GROUP INC Healthcare 0.07% $1.2m 2,435 −40% reduced ODFL OLD DOMINION FREIGHT LINE IN Industrials 0.07% $1.2m 4,067 0.0% held MSFT MICROSOFT CORP Technology 0.06% $1.1m 3,578 0.0% held BROOKFIELD ASSET MGMT INC no ticker – 0.05% $961k 16,989 0.0% held TSM TAIWAN SEMICONDUCTOR MANUFAC Technology 0.05% $859k 8,240 −37% reduced BOOT BOOT BARN HLDGS INC Consumer Cyclical 0.04% $782k 8,253 0.0% held GLD SPDR GOLD TRUST – 0.04% $770k 4,265 0.0% held ADI ANALOG DEVICES INC Technology 0.04% $756k 4,578 0.0% held LFUS LITTELFUSE INC Technology 0.04% $691k 2,770 0.0% held NVO NOVO-NORDISK A S Healthcare 0.04% $689k 6,200 0.0% held ROP ROPER TECHNOLOGIES INC Technology 0.04% $689k 1,460 0.0% held LEVI LEVI STRAUSS & CO NEW Consumer Cyclical 0.04% $651k 32,939 0.0% held SITE SITEONE LANDSCAPE SUPPLY INC Industrials 0.03% $607k 3,753 0.0% held
Exited since Q4 2021 2 rows
Stock Prior weight Prior value AMZN AMAZON COM INC 0.1% $2.5m W WAYFAIR INC 0.06% $1.1m
Sector mix Financial Services 31.9% Consumer Cyclical 17.9% Unclassified 15.3% Communication Services 13.5% Technology 10.0% Industrials 8.7% Healthcare 2.8% Consumer Defensive 0.01% 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