Giverny Capital
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Francois Rochon's Giverny Capital reported 50 stock positions worth $3.0 billion. Its top holding was Berkshire Hathaway Class B (BRK.B) at 8.5% of the portfolio, followed by Meta Platforms Class A (META, 6.9%) and Ametek (AME, 6.7%). Compared with Q3 2025, it opened 2 new positions, sold out of 4, added to 30 and reduced 6. The biggest buy was Alphabet Class C (GOOG, shares +0%) and the biggest sale an exit from Fiserv (FISV).
- Most Recent 13F
- Q2 2026
- Notable People
- Francois Rochon
- Location
- MONTREAL, A8
- CIK
- 0001641864
- Portfolio Value
- $3.0B (Q4 2025)
- SEC Filing
- 0001641864-26-000002 ↗ filed Feb 13, 2026
Holdings Value
Holdings 50 stocks · $3.0B
| BRK.B Berkshire Hathaway Inc. Class B | 8.48% | 505,984 | $254.3M | Reduce -0.9% |
| META Meta Platforms Inc. Class A | 6.90% | 313,449 | $206.9M | Add +0.5% |
| AME Ametek Inc. | 6.71% | 979,458 | $201.1M | Reduce -1.7% |
| GOOG Alphabet Inc. Class C | 6.69% | 639,507 | $200.7M | Add +0.2% |
| HEI.A Heico Corp. Class A | 6.35% | 754,532 | $190.5M | Add +0.7% |
| SCHW Schwab (charles) Corp. | 5.28% | 1,585,661 | $158.4M | Add +0.6% |
| MEDP Medpace Holdings Inc. | 4.93% | 263,320 | $147.9M | Add +0.6% |
| V Visa Inc. Class A | 4.77% | 407,345 | $142.9M | Add +0.5% |
| IBP Installed Building Products | 4.49% | 519,236 | $134.7M | Add +0.9% |
| PGR Progressive Corp. | 4.08% | 536,832 | $122.2M | Add +0.6% |
| FIVE Five Below | 4.01% | 637,747 | $120.1M | Add +0.1% |
| BKNG Booking Holdings Inc. | 3.83% | 21,445 | $114.8M | Add +0.5% |
| GOOGL Alphabet Inc. Class A | 3.77% | 361,398 | $113.1M | Add +0.6% |
| NVR NVR Inc. | 3.43% | 14,112 | $102.9M | Add +0.3% |
| MKL Markel Group Inc. | 3.15% | 43,978 | $94.5M | Add +0.3% |
| KNSL Kinsale Capital Group Inc. | 2.80% | 214,264 | $83.8M | Add +12.5% |
| KEYS Keysight Technologies Inc. | 2.26% | 334,046 | $67.9M | Add +0.0% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 2.07% | 544,419 | $61.9M | Add +109.1% |
| BRO Brown & Brown Inc. | 2.05% | 772,520 | $61.6M | Add +139.7% |
| OZK Bank Ozk | 1.94% | 1,264,042 | $58.2M | Add +0.2% |
| RMD Resmed Inc. | 1.89% | 235,388 | $56.7M | Reduce -0.0% |
| ANET Arista Networks Inc. | 1.83% | 419,158 | $54.9M | Add +1.6% |
| ADI Analog Devices Inc. | 1.60% | 176,747 | $47.9M | Add +0.2% |
| BFAM Bright Horizons Family Solut | 1.39% | 410,196 | $41.6M | New |
| LULU Lululemon Athletica Inc. | 1.00% | 144,237 | $30.0M | Add +0.2% |
| LFUS Littelfuse Inc. | 0.69% | 81,585 | $20.6M | Add +0.4% |
| JPM JPMorgan Chase & Co. | 0.56% | 51,838 | $16.7M | Add +2.2% |
| MA Mastercard Inc. Class A | 0.55% | 28,759 | $16.4M | Add +3.7% |
| FND Floor & Decor Holdings Inc. Class A | 0.48% | 235,876 | $14.4M | Reduce -0.1% |
| TWFG TWFG Inc. | 0.32% | 331,511 | $9.5M | Add +10.4% |
| BLDR Builders Firstsource Inc. | 0.31% | 89,984 | $9.3M | Add +3.3% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.28% | 11 | $8.3M | No change |
| FERG Ferguson Enterprises Inc. | 0.27% | 36,374 | $8.1M | Add +2.5% |
| TSM Taiwan Semiconductor-SP ADR | 0.16% | 16,069 | $4.8M | Add +96.8% |
| AAPL Apple Inc. | 0.15% | 16,518 | $4.5M | Reduce -2.1% |
| COF Capital One Financial Corp. | 0.07% | 8,274 | $2.0M | Reduce -0.0% |
| YUMC Yum China Holdings Inc. | 0.06% | 36,036 | $1.7M | No change |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.06% | 2,474 | $1.7M | No change |
| GLD SPDR Gold Shares | 0.05% | 3,876 | $1.5M | No change |
| MTB M & T Bank Corp. filed as M & T BK CORP | 0.05% | 7,540 | $1.5M | No change |
| ITB iShares U.S. Home Constructi | 0.04% | 11,698 | $1.1M | Add +1.2% |
| BIRK Birkenstock Holding PLC | 0.04% | 27,392 | $1.1M | No change |
| CPRT Copart Inc. | 0.04% | 27,484 | $1.1M | No change |
| MSFT Microsoft Corp. | 0.03% | 1,704 | $824K | Add +0.1% |
| ODFL Old Dominion Freight Line | 0.03% | 5,255 | $824K | No change |
| NVO Novo-Nordisk A/S-Spons ADR | 0.02% | 12,400 | $631K | No change |
| DFH Dream Finders Homes Inc. Class A | 0.02% | 32,202 | $551K | No change |
| SITE Siteone Landscape Supply Inc. | 0.02% | 3,753 | $467K | No change |
| ISRG Intuitive Surgical Inc. | 0.01% | 405 | $229K | New |
| COST Costco Wholesale Corp. | 0.01% | 240 | $207K | No change |
Portfolio Sells Q3 2025 → Q4 2025
| FISV Fiserv Inc. | Sold out | 0.00% | −2.85 |
| KMX Carmax Inc. | Sold out | 0.00% | −2.54 |
| RMD Resmed Inc. | Reduce -0.0% | 1.89% | −0.29 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.9% | 8.48% | −0.21 |
| ALGN Align Technology Inc. | Sold out | 0.00% | −0.19 |
| FND Floor & Decor Holdings Inc. Class A | Reduce -0.1% | 0.48% | −0.11 |
| CACC Credit Acceptance Corp. | Sold out | 0.00% | −0.09 |
| AAPL Apple Inc. | Reduce -2.1% | 0.15% | +0.00 |
| COF Capital One Financial Corp. | Reduce -0.0% | 0.07% | +0.01 |
| AME Ametek Inc. | Reduce -1.7% | 6.71% | +0.36 |
Portfolio Buys Q3 2025 → Q4 2025
| GOOG Alphabet Inc. Class C | Add +0.2% | 6.69% | +1.43 |
| BFAM Bright Horizons Family Solut | New | 1.39% | +1.39 |
| DIS The Walt Disney Co. | Add +109.1% | 2.07% | +1.06 |
| BRO Brown & Brown Inc. | Add +139.7% | 2.05% | +1.03 |
| GOOGL Alphabet Inc. Class A | Add +0.6% | 3.77% | +0.81 |
| FIVE Five Below | Add +0.1% | 4.01% | +0.67 |
| MEDP Medpace Holdings Inc. | Add +0.6% | 4.93% | +0.37 |
| MKL Markel Group Inc. | Add +0.3% | 3.15% | +0.31 |
| KEYS Keysight Technologies Inc. | Add +0.0% | 2.26% | +0.28 |
| IBP Installed Building Products | Add +0.9% | 4.49% | +0.19 |
| SCHW Schwab (charles) Corp. | Add +0.6% | 5.28% | +0.19 |
| LULU Lululemon Athletica Inc. | Add +0.2% | 1.00% | +0.13 |
| ADI Analog Devices Inc. | Add +0.2% | 1.60% | +0.13 |
| TSM Taiwan Semiconductor-SP ADR | Add +96.8% | 0.16% | +0.08 |
| V Visa Inc. Class A | Add +0.5% | 4.77% | +0.07 |
| KNSL Kinsale Capital Group Inc. | Add +12.5% | 2.80% | +0.05 |
| TWFG TWFG Inc. | Add +10.4% | 0.32% | +0.04 |
| JPM JPMorgan Chase & Co. | Add +2.2% | 0.56% | +0.02 |
| MA Mastercard Inc. Class A | Add +3.7% | 0.55% | +0.01 |
| ISRG Intuitive Surgical Inc. | New | 0.01% | +0.01 |
| FERG Ferguson Enterprises Inc. | Add +2.5% | 0.27% | 0.00 |
| MSFT Microsoft Corp. | Add +0.1% | 0.03% | −0.00 |
| ITB iShares U.S. Home Constructi | Add +1.2% | 0.04% | −0.00 |
| LFUS Littelfuse Inc. | Add +0.4% | 0.69% | −0.02 |
| BLDR Builders Firstsource Inc. | Add +3.3% | 0.31% | −0.05 |
| BKNG Booking Holdings Inc. | Add +0.5% | 3.83% | −0.07 |
| HEI.A Heico Corp. Class A | Add +0.7% | 6.35% | −0.10 |
| ANET Arista Networks Inc. | Add +1.6% | 1.83% | −0.20 |
| OZK Bank Ozk | Add +0.2% | 1.94% | −0.24 |
| PGR Progressive Corp. | Add +0.6% | 4.08% | −0.39 |
| NVR NVR Inc. | Add +0.3% | 3.43% | −0.40 |
| META Meta Platforms Inc. Class A | Add +0.5% | 6.90% | −0.86 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026Amended | 51 | $3.0B | GOOG, HEI.A, META, SCHW, ADP |
| Q1 2026 | 51 | $2.7B | BRK.B, GOOG, META, HEI.A, SCHW |
| Q4 2025 | 50 | $3.0B | BRK.B, META, AME, GOOG, HEI.A |
| Q3 2025Amended | 52 | $3.0B | BRK.B, META, HEI.A, AME, GOOG |
| Q2 2025 | 55 | $2.9B | BRK.B, META, HEI.A, AME, SCHW |
| Q1 2025Amended | 54 | $2.7B | BRK.B, META, AME, HEI.A, PGR |
| Q4 2024Amended | 62 | $2.7B | BRK.B, META, AME, HEI.A, KMX |
| Q3 2024 | 52 | $2.6B | BRK.B, META, AME, HEI.A, PGR |
| Q2 2024 | 50 | $2.4B | BRK.B, AME, META, HEI.A, GOOG |
| Q1 2024Amended | 53 | $2.5B | BRK.B, AME, META, KMX, MKL |