Great investors · François Rochon · Q2 2026
What François Rochon bought and sold in Q2 2026
Giverny Capital 13F portfolio as of Jun 30, 2026: 51 positions worth $3.0 bn. Largest: GOOG, HEI/A, META, SCHW. Filed with the SEC on Aug 26, 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 Q2 2026
- IncreasedAutomatic Data ProcessingADP+1.8 pp
- NewNew York TimesNYT+1.1 pp
- IncreasedResMedRMD+1.0 pp
- NewMSA SafetyMSA+1.0 pp
- NewWatscoWSO+0.9 pp
- IncreasedBright Horizons Family SolutionsBFAM+0.8 pp
- NewVeeva SystemsVEEV+0.6 pp
- NewAmerican ExpressAXP+0.5 pp
Sells in Q2 2026
- ReducedBerkshire HathawayBRK/B−2.2 pp
- ReducedKeysight TechnologiesKEYS−2.1 pp
- ReducedAnalog DevicesADI−1.0 pp
- ReducedMarkel GroupMKL−0.8 pp
12 companies with material moves, out of 50 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 Q2 2026 13F lists 51 lines of US-listed securities worth $3.0 bn; the largest is GOOG at 7.19% of the portfolio. It was accepted by the SEC on Aug 26, 2026 at 1:18 PM ET.
Against the previous quarter, it opened 7 positions (NYT, MSA, WSO and VEEV and 3 more), closed 7 (MTB, RSP, QQQM and BIRK and 3 more), added to 11 (ADP, RMD, BFAM and SCHW and 7 more) and trimmed 25 (BRK/B, KEYS, MKL and ADI and 21 more). 8 lines show the same number of shares.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | Alphabet GOOG | 605,460 | $214M | 7.19% | −2.5% |
| 2 | Heico HEI/A | 735,248 | $190M | 6.38% | no change |
| 3 | Meta Platforms META | 302,888 | $171M | 5.74% | −1.6% |
| 4 | Charles Schwab SCHW | 1.7 M | $155M | 5.22% | +9.5% |
| 5 | Automatic Data Processing ADP | 654,556 | $147M | 4.93% | +56% |
| 6 | Ametek AME | 598,781 | $145M | 4.87% | −2.2% |
| 7 | Medpace Holdings MEDP | 253,931 | $134M | 4.52% | no change |
| 8 | Visa V | 389,900 | $134M | 4.50% | −1.6% |
| 9 | Berkshire Hathaway BRK/B | 248,447 | $124M | 4.18% | −34% |
| 10 | Progressive PGR | 542,292 | $118M | 3.98% | +2.6% |
| 11 | Alphabet GOOGL | 310,118 | $111M | 3.73% | −11% |
| 12 | Five Below FIVE | 598,122 | $108M | 3.62% | −3.1% |
| 13 | Booking Holdings BKNG | 522,664 | $93.2M | 3.13% | no change |
| 14 | Installed Building Products IBP | 397,662 | $91.4M | 3.07% | −1.5% |
| 15 | NVR NVR | 13,238 | $90.2M | 3.03% | −3% |
| 16 | Kinsale Capital Group KNSL | 240,731 | $79.4M | 2.67% | +10% |
| 17 | Bright Horizons Family Solutions BFAM | 1.1 M | $76.6M | 2.58% | +46% |
| 18 | ResMed RMD | 387,665 | $75.5M | 2.54% | +69% |
| 19 | Bank OZK Little Rock ARK OZK | 1.2 M | $62.4M | 2.10% | −2.7% |
| 20 | Markel Group MKL | 30,877 | $60.3M | 2.03% | −28% |
| 21 | Arista Networks ANET | 339,892 | $57.7M | 1.94% | −20% |
| 22 | Keysight Technologies KEYS | 143,072 | $50.1M | 1.68% | −56% |
| 23 | Walt Disney DIS | 515,567 | $49.6M | 1.67% | −3.9% |
| 24 | Brown & Brown BRO | 753,288 | $48.3M | 1.62% | no change |
| 25 | Analog Devices ADI | 93,310 | $37.1M | 1.25% | −45% |
| 26 | New York Times NYT | 484,424 | $33.9M | 1.14% | new |
| 27 | Littelfuse LFUS | 74,125 | $33.8M | 1.13% | −8.2% |
| 28 | MSA Safety MSA | 166,305 | $29.0M | 0.98% | new |
| 29 | Watsco WSO | 65,975 | $27.5M | 0.92% | new |
| 30 | AAON AAON | 204,779 | $26.0M | 0.87% | +1.5% |
| 31 | SPDR Gold Shares ETF GLD | 3,876 | $25.0M | 0.84% | no change |
| 32 | Sunbelt Rentals Holdings SUNB | 246,369 | $21.6M | 0.73% | −9% |
| 33 | Veeva Systems VEEV | 94,956 | $16.9M | 0.57% | new |
| 34 | American Express AXP | 46,702 | $15.8M | 0.53% | new |
| 35 | TWFG TWFG | 652,452 | $15.7M | 0.53% | +18% |
| 36 | JPMorgan Chase JPM | 47,876 | $15.7M | 0.53% | −8.5% |
| 37 | Mastercard MA | 28,816 | $14.8M | 0.50% | +2.7% |
| 38 | lululemon athletica LULU | 128,803 | $14.7M | 0.49% | −9.7% |
| 39 | Floor & Decor Holdings FND | 229,867 | $13.6M | 0.46% | no change |
| 40 | Hawkins HWKN | 94,954 | $13.5M | 0.45% | new |
| 41 | Ferguson Enterprises FERG | 37,380 | $8.9M | 0.30% | +1.8% |
| 42 | Builders Firstsource BLDR | 91,464 | $8.2M | 0.28% | no change |
| 43 | Berkshire Hathaway BRK/A | 9 | $6.7M | 0.23% | −18% |
| 44 | Apple AAPL | 12,995 | $3.8M | 0.13% | −14% |
| 45 | Taiwan Semiconductor Manufacturing TSM | 3,655 | $1.7M | 0.06% | −55% |
| 46 | State Str Spdr S&P 500 ETF T SPY | 2,294 | $1.7M | 0.06% | −7.3% |
| 47 | Yum China Holdings YUMC | 36,036 | $1.5M | 0.05% | no change |
| 48 | iShares U.s. Home Constructi ETF ITB | 11,662 | $1.2M | 0.04% | +7.4% |
| 49 | Microsoft MSFT | 1,787 | $667K | 0.02% | −6.4% |
| 50 | Invesco QQQ Trust Series 1 ETF QQQ | 391 | $288K | 0.01% | new |
| 51 | Copart CPRT | 8,274 | $233K | 0.01% | −70% |
Positions it closed (7)
- M&t Bank MTBwas 0.06% · 7,535 shares
- Invesco S&p500 Eq WGT ETF RSPwas 0.04% · 6,105 shares
- Invesco Exch Traded Fd Tr II QQQMwas 0.04% · 4,222 shares
- Birkenstock Holding BIRKwas 0.04% · 27,392 shares
- Old Dominion Freight Line ODFLwas 0.04% · 5,006 shares
- SiteOne Landscape Supply SITEwas 0.02% · 3,753 shares
- Novo Nordisk A/s NVOwas 0.02% · 12,400 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.