Francois Rochon - Giverny Capital 13F Activity & Position Changes (Q2 2026)

According to the SEC 13F filed on Aug 14, 2026, the Giverny Capital portfolio showed several notable changes in holdings as of quarter-end Jun 30, 2026. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q2 2026, the filing reported:

New Buys - American Express Company, Hawkins, Inc., MSA Safety Incorporated, New York Times Company (The), Invesco QQQ Trust, Series 1, and 2 more

Increases - TWFG, AAON, Inc., Automatic Data Processing, Inc., Bright Horizons Family Solution, Booking Holdings Inc. Common St, and 7 more

Reductions - Apple Inc., Analog Devices, Inc., AMETEK, Inc., Arista Networks, Inc., Builders FirstSource, Inc., and 24 more

Complete Exits - Birkenstock, M&T Bank Corporation, Novo Nordisk A/S, Old Dominion Freight Line, Inc., Invesco NASDAQ 100 ETF, and 2 more

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q2 2026	87318A101 TWFG	TWFG	Buy	+100,345	+18.2%	$15.69M	652,452
Q2 2026	AAON AAON, Inc.	AAON, Inc.	Buy	+2,947	+1.5%	$25.98M	204,779
Q2 2026	AAPL Apple Inc.	Apple Inc.	Sell	-2,045	-13.6%	$3.76M	12,995
Q2 2026	ADI Analog Devices, Inc.	Analog Devices, Inc.	Sell	-77,742	-45.4%	$37.06M	93,310
Q2 2026	ADP Automatic Data Processing, Inc.	Automatic Data Processing, Inc.	Buy	+235,466	+56.2%	$146.59M	654,556
Q2 2026	AME AMETEK, Inc.	AMETEK, Inc.	Sell	-13,277	-2.2%	$144.87M	598,781
Q2 2026	ANET Arista Networks, Inc.	Arista Networks, Inc.	Sell	-83,469	-19.7%	$57.74M	339,892
Q2 2026	AXP American Express Company	American Express Company	Buy - Position Entry	+46,702	-	$15.75M	46,702
Q2 2026	BFAM Bright Horizons Family Solution	Bright Horizons Family Solution	Buy	+338,464	+45.6%	$76.61M	1,080,793
Q2 2026	BIRK Birkenstock	Birkenstock	Sell - Position Exit	-27,392	-100.0%	$0.00	-
Q2 2026	BKNG Booking Holdings Inc. Common St	Booking Holdings Inc. Common St	Buy	+501,547	+2375.1%	$93.16M	522,664
Q2 2026	BLDR Builders FirstSource, Inc.	Builders FirstSource, Inc.	Sell	-349	-0.4%	$8.18M	91,464
Q2 2026	BRK-A Berkshire Hathaway Inc.	Berkshire Hathaway Inc.	Sell	-2	-18.2%	$6.74M	9
Q2 2026	BRK-B Berkshire Hathaway Inc. New	Berkshire Hathaway Inc. New	Sell	-130,178	-34.4%	$124.32M	248,447
Q2 2026	BRO Brown & Brown, Inc.	Brown & Brown, Inc.	Sell	-1,981	-0.3%	$48.32M	753,288
Q2 2026	CPRT Copart, Inc.	Copart, Inc.	Sell	-19,210	-69.9%	$233.24K	8,274
Q2 2026	DIS Walt Disney Company (The)	Walt Disney Company (The)	Sell	-20,947	-3.9%	$49.62M	515,567
Q2 2026	FERG Ferguson	Ferguson	Buy	+652	+1.8%	$8.87M	37,380
Q2 2026	FIVE Five Below, Inc.	Five Below, Inc.	Sell	-19,069	-3.1%	$107.54M	598,122
Q2 2026	FND Floor & Decor Holdings, Inc.	Floor & Decor Holdings, Inc.	Sell	-1,962	-0.8%	$13.64M	229,867
Q2 2026	GOOG Alphabet Inc.	Alphabet Inc.	Sell	-15,449	-2.5%	$213.93M	605,460
Q2 2026	GOOGL Alphabet Inc.	Alphabet Inc.	Sell	-38,351	-11.0%	$110.83M	310,118
Q2 2026	HEI-A Heico Corporation	Heico Corporation	Sell	-3,234	-0.4%	$189.63M	735,248
Q2 2026	HWKN Hawkins, Inc.	Hawkins, Inc.	Buy - Position Entry	+94,954	-	$13.49M	94,954
Q2 2026	IBP Installed Building Products, In	Installed Building Products, In	Sell	-6,003	-1.5%	$91.40M	397,662
Q2 2026	ITB iShares U.S. Home Construction	iShares U.S. Home Construction	Buy	+808	+7.4%	$1.22M	11,662
Q2 2026	JPM JP Morgan Chase & Co.	JP Morgan Chase & Co.	Sell	-4,422	-8.5%	$15.67M	47,876
Q2 2026	KEYS Keysight Technologies Inc.	Keysight Technologies Inc.	Sell	-180,112	-55.7%	$50.09M	143,072
Q2 2026	KNSL Kinsale Capital Group, Inc.	Kinsale Capital Group, Inc.	Buy	+21,789	+10.0%	$79.40M	240,731
Q2 2026	LFUS Littelfuse, Inc.	Littelfuse, Inc.	Sell	-6,594	-8.2%	$33.75M	74,125

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