Great investors · François Rochon · Q4 2024
What François Rochon bought and sold in Q4 2024
Giverny Capital 13F portfolio as of Dec 31, 2024: 62 positions worth $2.7 bn. Largest: BRK/B, META, AME, HEI/A. Filed with the SEC on Aug 12, 2025.
The 13F is filed by Giverny Capital, not by François Rochon personally: these are the whole firm's positions. A “position” is a distinct security in the filing (by CUSIP); share classes of the same company are shown added together.
Buys in Q4 2024
- NewBrown & BrownBRO+1.1 pp
- IncreasedFiservFISV+1.0 pp
Sells in Q4 2024
- ReducedEdwards LifesciencesEW−1.1 pp
- ReducedKeysight TechnologiesKEYS−0.9 pp
4 companies with material moves, out of 49 positions with a change. Only moves of 0.5 points of the portfolio or more are listed, measured as “traded weight” (what was bought or sold, excluding price effects). Smaller changes exist and are not listed: a position may have gone up or down without appearing above.
The full 13F, line by line
Giverny Capital's Q4 2024 13F lists 62 lines of US-listed securities worth $2.7 bn; the largest is BRK/B at 8.38% of the portfolio. It was accepted by the SEC on Aug 12, 2025 at 10:18 AM ET.
Against the previous quarter, it opened 11 positions (BRO, FERG, BIRK and UNH and 7 more), closed 1 (Liberty Media Corp Series C Liberty Media), added to 33 (FISV, BRK/B, KMX and BKNG and 29 more) and trimmed 4 (KEYS, ADI, ANET and EW). 14 lines show the same number of shares.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | Berkshire Hathaway BRK/B | 505,550 | $229M | 8.38% | +3.3% |
| 2 | Meta Platforms META | 315,095 | $184M | 6.74% | +1.7% |
| 3 | Ametek AME | 974,459 | $176M | 6.42% | +1.6% |
| 4 | Heico HEI/A | 741,655 | $138M | 5.04% | +1.2% |
| 5 | Carmax KMX | 1.7 M | $138M | 5.03% | +2.8% |
| 6 | Progressive PGR | 545,856 | $131M | 4.78% | +1.7% |
| 7 | Fiserv FISV | 630,254 | $129M | 4.73% | +26% |
| 8 | Visa V | 395,717 | $125M | 4.57% | +1% |
| 9 | Alphabet GOOG | 655,037 | $125M | 4.56% | +1.4% |
| 10 | NVR NVR | 13,558 | $111M | 4.05% | +1.9% |
| 11 | Booking Holdings BKNG | 21,177 | $105M | 3.85% | +3.2% |
| 12 | Installed Building Products IBP | 504,735 | $88.5M | 3.23% | +3.6% |
| 13 | Medpace Holdings MEDP | 234,287 | $77.8M | 2.84% | +3.2% |
| 14 | Five Below FIVE | 732,110 | $76.8M | 2.81% | no change |
| 15 | Markel Group MKL | 43,331 | $74.8M | 2.73% | +1.5% |
| 16 | Charles Schwab SCHW | 947,927 | $70.2M | 2.56% | +1.3% |
| 17 | M&t Bank MTB | 367,581 | $69.1M | 2.53% | +1.9% |
| 18 | Starbucks SBUX | 749,372 | $68.4M | 2.50% | +4.4% |
| 19 | Alphabet GOOGL | 356,828 | $67.5M | 2.47% | +2.9% |
| 20 | lululemon athletica LULU | 143,368 | $54.8M | 2.00% | +1.3% |
| 21 | Bank OZK Little Rock ARK OZK | 1.2 M | $54.0M | 1.97% | +1.3% |
| 22 | Keysight Technologies KEYS | 331,845 | $53.3M | 1.95% | −31% |
| 23 | Arista Networks ANET | 410,428 | $45.4M | 1.66% | −3.8% |
| 24 | Bank of America BAC | 1.0 M | $44.0M | 1.61% | +1.1% |
| 25 | Kinsale Capital Group KNSL | 90,759 | $42.2M | 1.54% | +5.1% |
| 26 | Analog Devices ADI | 171,775 | $36.5M | 1.33% | −17% |
| 27 | Fortune Brands Innovations FBIN | 463,140 | $31.6M | 1.16% | +3.8% |
| 28 | Brown & Brown BRO | 294,809 | $30.1M | 1.10% | new |
| 29 | Walt Disney DIS | 248,218 | $27.6M | 1.01% | +1.1% |
| 30 | Floor & Decor Holdings FND | 233,921 | $23.3M | 0.85% | +1.4% |
| 31 | Littelfuse LFUS | 80,615 | $19.0M | 0.69% | +2% |
| 32 | Credit Acceptance CACC | 29,558 | $13.9M | 0.51% | +1% |
| 33 | Mastercard MA | 26,275 | $13.8M | 0.51% | +2.9% |
| 34 | JPMorgan Chase JPM | 43,862 | $10.5M | 0.38% | +1.2% |
| 35 | Align Technology ALGN | 43,006 | $9.0M | 0.33% | +30% |
| 36 | Ferguson Enterprises FERG | 33,708 | $5.9M | 0.21% | new |
| 37 | Berkshire Hathaway BRK/A | 8 | $5.4M | 0.20% | +14% |
| 38 | Apple AAPL | 16,976 | $4.3M | 0.16% | +72% |
| 39 | Taiwan Semiconductor Manufacturing TSM | 14,638 | $2.9M | 0.11% | no change |
| 40 | State Str Spdr S&P 500 ETF T SPY | 4,752 | $2.8M | 0.10% | no change |
| 41 | Capital One Financial COF | 14,774 | $2.6M | 0.10% | no change |
| 42 | Intercontinental Exchange ICE | 16,799 | $2.5M | 0.09% | no change |
| 43 | Yum China Holdings YUMC | 36,036 | $1.7M | 0.06% | no change |
| 44 | Copart CPRT | 27,484 | $1.6M | 0.06% | no change |
| 45 | Birkenstock Holding BIRK | 27,392 | $1.6M | 0.06% | new |
| 46 | UnitedHealth Group UNH | 2,364 | $1.2M | 0.04% | new |
| 47 | Liberty Broadband LBRDK | 15,000 | $1.1M | 0.04% | new |
| 48 | iShares U.s. Home Constructi ETF ITB | 10,432 | $1.1M | 0.04% | +1.3% |
| 49 | Novo Nordisk A/s NVO | 12,400 | $1.1M | 0.04% | no change |
| 50 | SPDR Gold Shares ETF GLD | 4,206 | $1.0M | 0.04% | no change |
| 51 | Microsoft MSFT | 2,354 | $992K | 0.04% | new |
| 52 | Old Dominion Freight Line ODFL | 5,255 | $927K | 0.03% | no change |
| 53 | Dream Finders Homes DFH | 32,202 | $749K | 0.03% | no change |
| 54 | iShares Silver Trust ETF SLV | 23,000 | $606K | 0.02% | no change |
| 55 | Jacobs Solutions J | 4,394 | $587K | 0.02% | new |
| 56 | Grayscale Bitcoin Trust ETF GBTC | 7,442 | $551K | 0.02% | new |
| 57 | SiteOne Landscape Supply SITE | 3,753 | $495K | 0.02% | no change |
| 58 | Doubleline ETF Trust CAPE | 10,645 | $319K | 0.01% | new |
| 59 | Vanguard S&P 500 ETF VOO | 584 | $315K | 0.01% | new |
| 60 | Costco Wholesale COST | 240 | $220K | 0.01% | no change |
| 61 | Intuitive Surgical ISRG | 405 | $211K | 0.01% | new |
| 62 | Edwards Lifesciences EW | 257 | $19.0K | 0.00% | −99% |
Positions it closed (1)
- Liberty Media Corp Series C Liberty Media was 0.04% · 15,000 shares
One row per line of the filing (by CUSIP): share classes of the same company are listed separately here. “Change in shares” compares the count with the previous quarter, split-adjusted; the value is the one reported in the 13F at quarter end, not today's price.
Original documents: Giverny Capital's 13F filings on EDGAR (SEC) ↗
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Source: 13F filings with the SEC. A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions. Not investment advice.