Funds › Giverny Capital (François Rochon) › Q2 2023Giverny Capital (François Rochon) 13F holdings, Q2 2023 Giverny Capital (François Rochon) disclosed 59 US equity positions worth $1.9bn in its Q2 2023 13F filing. Its largest position is BRK/B at 8.4% of the reported book, followed by AME and KMX. Versus Q1 2023 it opened 0 new positions, added to 34, reduced 7 and exited 1.
$1.9bn 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.
8.4% Largest position The largest single position as a share of the reported equity book.
59.3% 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 Q1 2023: 0 new , 34 added , 7 reduced , 1 exited
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Stock Sector Weight Value Shares Δ shares Action BRK/B BERKSHIRE HATHAWAY INC DEL – 8.4% $160m 470,193 +5.7% added AME AMETEK INC Industrials 7.6% $144m 892,500 +6.0% added KMX CARMAX INC Consumer Cyclical 6.6% $126m 1.50m +5.1% added FIVE FIVE BELOW INC Consumer Cyclical 6.6% $125m 633,721 +5.3% added MKL MARKEL GROUP INC Financial Services 6.1% $116m 83,806 +5.3% added GOOG ALPHABET INC Communication Services 5.8% $110m 907,036 +5.2% added HEI/A HEICO CORP NEW – 5.2% $98.5m 700,824 +6.7% added V VISA INC Financial Services 4.6% $88.2m 371,511 +5.2% added META META PLATFORMS INC Communication Services 4.2% $80.3m 279,708 +6.2% added NVR NVR INC Consumer Cyclical 4.2% $80.1m 12,610 +4.0% added KEYS KEYSIGHT TECHNOLOGIES INC Technology 4.1% $78.7m 469,858 +5.5% added FBIN FORTUNE BRANDS INNOVATIONS I Industrials 3.4% $64.9m 901,842 +0.5% held PGR PROGRESSIVE CORP Financial Services 3.4% $64.5m 487,409 +1.3% added IBP INSTALLED BLDG PRODS INC Consumer Cyclical 3.2% $60.0m 428,356 +1.0% added LULU LULULEMON ATHLETICA INC Consumer Cyclical 2.3% $43.9m 115,880 +1.6% added SCHW SCHWAB CHARLES CORP Financial Services 2.2% $42.6m 752,131 −38% reduced MTB M & T BK CORP Financial Services 2.2% $41.9m 338,586 +14% added EW EDWARDS LIFESCIENCES CORP Healthcare 2.2% $41.5m 439,896 +6.0% added ADI ANALOG DEVICES INC Technology 1.9% $35.7m 183,506 +511% added FISV FISERV INC – 1.8% $34.2m 271,006 +4.0% added CIEN CIENA CORP Technology 1.6% $29.9m 703,532 +5.5% added FND FLOOR & DECOR HLDGS INC Consumer Cyclical 1.5% $28.9m 277,959 +4.8% added BAC BANK OF AMER CORP Financial Services 1.5% $28.3m 985,876 +9.5% added GOOGL ALPHABET INC Communication Services 1.4% $26.7m 222,888 +4.6% added LFUS LITTELFUSE INC Technology 1.2% $22.1m 75,781 +8.5% added DIS DISNEY WALT CO Communication Services 1.1% $20.6m 230,556 +0.7% added ANET ARISTA NETWORKS INC Technology 0.9% $16.8m 103,957 +3.5% added MBC MASTERBRAND INC Consumer Cyclical 0.6% $10.6m 910,934 +5.2% added CACC CREDIT ACCEP CORP MICH Financial Services 0.6% $10.5m 20,748 +2.9% added ATHM AUTOHOME INC Communication Services 0.5% $10.0m 343,286 +0.4% held SSNC SS&C TECHNOLOGIES HLDGS INC Technology 0.5% $9.8m 161,122 +3.5% added OZK BANK OZK LITTLE ROCK ARK Financial Services 0.4% $8.5m 210,522 +5.1% added MA MASTERCARD INC Financial Services 0.4% $7.6m 19,308 +2.5% added COHR COHERENT CORP Technology 0.3% $5.1m 100,193 +3.8% added JPM JPMORGAN CHASE & CO Financial Services 0.3% $5.0m 34,095 +3.2% added BRK/A BERKSHIRE HATHAWAY INC DEL – 0.2% $4.7m 9 0.0% held AAPL APPLE INC Technology 0.1% $2.8m 14,338 −2.0% reduced SPY SPDR S&P 500 ETF Trust – 0.1% $2.1m 4,752 −0.2% held ODFL OLD DOMINION FREIGHT LINE IN Industrials 0.08% $1.5m 4,067 0.0% held CPRT COPART INC Industrials 0.07% $1.3m 13,742 0.0% held MSFT MICROSOFT CORP Technology 0.06% $1.2m 3,594 +0.4% held ITB ISHARES TR – 0.06% $1.1m 13,205 +169% added NVO NOVO-NORDISK A S Healthcare 0.05% $1.0m 6,200 0.0% held FAST FASTENAL CO Industrials 0.04% $845k 8,954 0.0% held TSM TAIWAN SEMICONDUCTOR MANUFAC Technology 0.04% $832k 8,240 −42% reduced GLD SPDR GOLD TRUST – 0.04% $763k 4,281 +0.4% held TJX TJX COS INC NEW Consumer Cyclical 0.04% $737k 8,697 0.0% held BOOT BOOT BARN HLDGS INC Consumer Cyclical 0.04% $699k 8,253 0.0% held SITE SITEONE LANDSCAPE SUPPLY INC Industrials 0.03% $643k 3,843 +2.4% added SBUX STARBUCKS CORP Consumer Cyclical 0.03% $615k 6,213 −0.8% reduced
Exited since Q1 2023 1 row
Stock Prior weight Prior value J JACOBS SOLUTIONS INC 0.02% $289k
Sector mix Consumer Cyclical 25.1% Financial Services 21.8% Unclassified 15.9% Communication Services 13.0% Industrials 11.3% Technology 10.7% Healthcare 2.2% 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