Great investors · François Rochon · Q1 2026
What François Rochon bought and sold in Q1 2026
Giverny Capital 13F portfolio as of Mar 31, 2026: 51 positions worth $2.7 bn. Largest: GOOG, BRK/B, META, HEI/A. Filed with the SEC on May 15, 2026.
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 Q1 2026
- NewAutomatic Data ProcessingADP+2.8 pp
- IncreasedBright Horizons Family SolutionsBFAM+0.9 pp
- NewAAONAAON+0.6 pp
Sells in Q1 2026
- ReducedAmetekAME−2.6 pp
- ReducedBerkshire HathawayBRK/B−2.0 pp
- ReducedInstalled Building ProductsIBP−1.0 pp
6 companies with material moves, out of 43 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 Q1 2026 13F lists 51 lines of US-listed securities worth $2.7 bn; the largest is BRK/B at 6.64% of the portfolio. It was accepted by the SEC on May 15, 2026 at 11:54 AM ET.
Against the previous quarter, it opened 5 positions (ADP, SUNB, AAON and RSP and 1 more), closed 4 (COF, DFH, ISRG and COST), added to 6 (BFAM, TWFG, KNSL and ANET and 2 more) and trimmed 29 (AME, BRK/B, IBP and GOOG and 25 more). 11 lines show the same number of shares.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | Berkshire Hathaway BRK/B | 378,625 | $181M | 6.64% | −25% |
| 2 | Alphabet GOOG | 620,909 | $178M | 6.52% | −2.9% |
| 3 | Meta Platforms META | 307,821 | $176M | 6.45% | −1.8% |
| 4 | Heico HEI/A | 738,482 | $156M | 5.71% | −2.1% |
| 5 | Charles Schwab SCHW | 1.5 M | $144M | 5.29% | −3.1% |
| 6 | Five Below FIVE | 617,191 | $141M | 5.16% | −3.2% |
| 7 | Ametek AME | 612,058 | $131M | 4.80% | −38% |
| 8 | Medpace Holdings MEDP | 256,081 | $123M | 4.50% | −2.7% |
| 9 | Visa V | 396,357 | $120M | 4.39% | −2.7% |
| 10 | Installed Building Products IBP | 403,665 | $107M | 3.92% | −22% |
| 11 | Progressive PGR | 528,364 | $105M | 3.83% | −1.6% |
| 12 | Alphabet GOOGL | 348,469 | $100M | 3.67% | −3.6% |
| 13 | Keysight Technologies KEYS | 323,184 | $91.3M | 3.34% | −3.3% |
| 14 | NVR NVR | 13,647 | $89.9M | 3.29% | −3.3% |
| 15 | Booking Holdings BKNG | 21,117 | $88.9M | 3.26% | −1.5% |
| 16 | Automatic Data Processing ADP | 419,090 | $85.2M | 3.12% | new |
| 17 | Markel Group MKL | 42,944 | $82.2M | 3.01% | −2.4% |
| 18 | Kinsale Capital Group KNSL | 218,942 | $74.8M | 2.74% | +2.2% |
| 19 | Bright Horizons Family Solutions BFAM | 742,329 | $61.0M | 2.23% | +81% |
| 20 | Bank OZK Little Rock ARK OZK | 1.2 M | $56.5M | 2.07% | −2.6% |
| 21 | Analog Devices ADI | 171,052 | $54.4M | 1.99% | −3.2% |
| 22 | Arista Networks ANET | 423,361 | $52.0M | 1.90% | +1% |
| 23 | Walt Disney DIS | 536,514 | $51.7M | 1.89% | −1.5% |
| 24 | ResMed RMD | 230,005 | $51.6M | 1.89% | −2.3% |
| 25 | Brown & Brown BRO | 755,269 | $49.3M | 1.80% | −2.2% |
| 26 | Littelfuse LFUS | 80,719 | $27.4M | 1.00% | −1.1% |
| 27 | lululemon athletica LULU | 142,600 | $21.8M | 0.80% | −1.1% |
| 28 | Sunbelt Rentals Holdings SUNB | 270,843 | $17.6M | 0.65% | new |
| 29 | AAON AAON | 201,832 | $16.7M | 0.61% | new |
| 30 | JPMorgan Chase JPM | 52,298 | $15.4M | 0.56% | no change |
| 31 | Mastercard MA | 28,066 | $14.0M | 0.51% | −2.4% |
| 32 | Floor & Decor Holdings FND | 231,829 | $11.8M | 0.43% | −1.7% |
| 33 | TWFG TWFG | 552,107 | $10.2M | 0.37% | +67% |
| 34 | Ferguson Enterprises FERG | 36,728 | $8.6M | 0.31% | no change |
| 35 | Berkshire Hathaway BRK/A | 11 | $7.9M | 0.29% | no change |
| 36 | Builders Firstsource BLDR | 91,813 | $7.6M | 0.28% | +2% |
| 37 | Apple AAPL | 15,040 | $3.8M | 0.14% | −8.9% |
| 38 | Taiwan Semiconductor Manufacturing TSM | 8,125 | $2.7M | 0.10% | −49% |
| 39 | Yum China Holdings YUMC | 36,036 | $1.8M | 0.06% | no change |
| 40 | SPDR Gold Shares ETF GLD | 3,876 | $1.7M | 0.06% | no change |
| 41 | State Str Spdr S&P 500 ETF T SPY | 2,474 | $1.6M | 0.06% | no change |
| 42 | M&t Bank MTB | 7,535 | $1.6M | 0.06% | no change |
| 43 | Invesco Exchange Traded Fund T RSP | 6,105 | $1.2M | 0.04% | new |
| 44 | Invesco Nasdaq 100 ETF QQQM | 4,222 | $1.0M | 0.04% | new |
| 45 | iShares U.s. Home Constructi ETF ITB | 10,854 | $983K | 0.04% | −7.2% |
| 46 | Birkenstock Holding BIRK | 27,392 | $981K | 0.04% | no change |
| 47 | Old Dominion Freight Line ODFL | 5,006 | $978K | 0.04% | −4.7% |
| 48 | Copart CPRT | 27,484 | $912K | 0.03% | no change |
| 49 | Microsoft MSFT | 1,910 | $707K | 0.03% | +12% |
| 50 | SiteOne Landscape Supply SITE | 3,753 | $500K | 0.02% | no change |
| 51 | Novo Nordisk A/s NVO | 12,400 | $456K | 0.02% | no change |
Positions it closed (4)
- Capital One Financial COFwas 0.07% · 8,274 shares
- Dream Finders Homes DFHwas 0.02% · 32,202 shares
- Intuitive Surgical ISRGwas 0.01% · 405 shares
- Costco Wholesale COSTwas 0.01% · 240 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.