Funds › Giverny Capital (François Rochon) › Q4 2023Giverny Capital (François Rochon) 13F holdings, Q4 2023 Giverny Capital (François Rochon) disclosed 59 US equity positions worth $2.1bn in its Q4 2023 13F filing. Its largest position is BRK/B at 8.1% of the reported book, followed by AME and FIVE. Versus Q3 2023 it opened 2 new positions, added to 24, reduced 12 and exited 2.
$2.1bn 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.
8.1% Largest position The largest single position as a share of the reported equity book.
55.0% Top 10 weight The ten largest positions together, as a share of the reported equity book.
24 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 2023: 2 new , 24 added , 12 reduced , 2 exited
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Stock Sector Weight Value Shares Δ shares Action BRK/B BERKSHIRE HATHAWAY INC DEL – 8.1% $173m 483,856 +1.6% added AME AMETEK INC Industrials 7.1% $150m 910,291 +1.5% added FIVE FIVE BELOW INC Consumer Cyclical 6.5% $139m 654,098 +1.5% added KMX CARMAX INC Consumer Cyclical 5.5% $118m 1.53m +0.9% added MKL MARKEL GROUP INC Financial Services 5.3% $112m 79,180 −6.3% reduced META META PLATFORMS INC Communication Services 4.8% $102m 287,932 +1.9% added HEI/A HEICO CORP NEW – 4.7% $99.2m 696,603 −2.2% reduced V VISA INC Financial Services 4.6% $98.2m 377,092 +1.5% added GOOG ALPHABET INC Communication Services 4.2% $89.9m 637,950 −30% reduced NVR NVR INC Consumer Cyclical 4.2% $88.7m 12,672 0.0% held IBP INSTALLED BLDG PRODS INC Consumer Cyclical 3.9% $83.3m 455,426 +5.2% added PGR PROGRESSIVE CORP Financial Services 3.8% $80.5m 505,551 +0.8% added KEYS KEYSIGHT TECHNOLOGIES INC Technology 3.5% $74.9m 470,853 +0.2% held FBIN FORTUNE BRANDS INNOVATIONS I Industrials 3.2% $68.7m 901,893 +0.2% held LULU LULULEMON ATHLETICA INC Consumer Cyclical 2.9% $62.3m 121,777 +1.0% added FISV FISERV INC – 2.8% $60.4m 454,874 +43% added SCHW SCHWAB CHARLES CORP Financial Services 2.7% $57.4m 833,904 +3.6% added MEDP MEDPACE HLDGS INC Healthcare 2.3% $48.3m 157,664 +4093% added MTB M & T BK CORP Financial Services 2.2% $47.0m 343,056 +0.3% held GOOGL ALPHABET INC Communication Services 1.8% $39.0m 279,386 +19% added ADI ANALOG DEVICES INC Technology 1.8% $37.3m 187,671 +0.8% added BAC BANK OF AMER CORP Financial Services 1.6% $34.7m 1.03m +0.2% held EW EDWARDS LIFESCIENCES CORP Healthcare 1.6% $33.6m 440,906 +0.1% held FND FLOOR & DECOR HLDGS INC Consumer Cyclical 1.5% $32.0m 287,111 +1.3% added CIEN CIENA CORP Technology 1.3% $28.2m 625,936 −1.5% reduced ANET ARISTA NETWORKS INC Technology 1.1% $23.4m 99,444 +0.8% added DIS DISNEY WALT CO Communication Services 1.0% $20.8m 230,757 0.0% held LFUS LITTELFUSE INC Technology 1.0% $20.5m 76,458 +0.6% added MBC MASTERBRAND INC Consumer Cyclical 0.6% $13.6m 912,988 +0.4% held CACC CREDIT ACCEP CORP MICH Financial Services 0.6% $12.0m 22,616 +2.3% added OZK BANK OZK LITTLE ROCK ARK Financial Services 0.6% $11.9m 238,771 +1.2% added MA MASTERCARD INC Financial Services 0.4% $9.1m 21,390 +3.0% added ATHM AUTOHOME INC Communication Services 0.4% $8.8m 312,582 −8.9% reduced ALGN ALIGN TECHNOLOGY INC Healthcare 0.3% $7.4m 27,162 – new JPM JPMORGAN CHASE & CO Financial Services 0.3% $6.3m 36,773 +0.5% held KNSL KINSALE CAP GROUP INC Financial Services 0.3% $5.9m 17,610 +589% added FERGUSON PLC NEW no ticker – 0.2% $5.2m 26,968 +3.0% added COHR COHERENT CORP Technology 0.2% $4.7m 108,137 −85% reduced BRK/A BERKSHIRE HATHAWAY INC DEL – 0.2% $3.8m 7 +17% added SPY SPDR S&P 500 ETF Trust – 0.1% $2.3m 4,752 0.0% held AAPL APPLE INC Technology 0.09% $2.0m 10,181 −29% reduced ITB ISHARES TR – 0.07% $1.5m 14,677 +5.1% added CPRT COPART INC Industrials 0.06% $1.3m 27,484 0.0% held NVO NOVO-NORDISK A S Healthcare 0.06% $1.3m 12,400 0.0% held DFH DREAM FINDERS HOMES INC Consumer Cyclical 0.05% $1.1m 32,202 – new ODFL OLD DOMINION FREIGHT LINE IN Industrials 0.04% $957k 2,362 −42% reduced TSM TAIWAN SEMICONDUCTOR MANUFAC Technology 0.04% $857k 8,240 0.0% held TJX TJX COS INC NEW Consumer Cyclical 0.04% $812k 8,657 −0.5% held GLD SPDR GOLD TRUST – 0.04% $804k 4,206 0.0% held ROP ROPER TECHNOLOGIES INC Technology 0.03% $725k 1,330 −0.4% held
Exited since Q3 2023 2 rows
Stock Prior weight Prior value BN BROOKFIELD CORP 0.02% $459k IYF ISHARES TR 0.01% $210k
Sector mix Consumer Cyclical 25.4% Financial Services 22.3% Unclassified 16.3% Communication Services 12.2% Industrials 10.5% Technology 9.1% Healthcare 4.3% 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