Run by François Rochon since 1993. Buys great, growing companies at sensible prices and owns them for many years.
If you’d given them $1,000 on January 1, 2025, by December 31 you’d have
You usually can’t invest in these funds: they’re for very wealthy people and institutions, often with millions to put in. The $1,000 is just a way to picture how they did.
$1,076
$1,076
7.6% in 2025
Before fees.
The rose 16.4% in 2025 (not counting dividends, the cash some companies pay their owners).
S&P 500 data: S&P Dow Jones Indices LLC, via FRED.
What they own
Biggest bets first. The % is how much of their stock money is in that company. Tap a stock to open its page.
Already owned
Added lately
Sold lately
A full bar is 15% of their money.
Just bought
18
Between April and June, compared with the report before.
Sold
30
Dollar amounts use the price on Jun 30, 2026, or on Mar 31, 2026 for stocks they sold completely.
Year by year
Each calendar year’s result for François Rochon’s U.S. portfolio. François Rochon’s own family accounts, which Giverny uses as its model, before management fees — clients’ results are lower by their fees. Giverny’s public fund (in Canadian dollars, since 2007) is reported separately. Published since 2003; the years before were added afterwards.
From Jul 1, 1993 to Dec 31, 2025, $1,000 became $69,388: 13.9% a year on average, before fees. Up in 28 of the 33 years shown, down in 5.
Not investment advice. For information and education only. Holdings: SEC Form 13F filings and the funds’ own letters. Returns: as reported by the funds or the press, linked at each number. Investors and money managed: the managers’ Form ADV filings with the SEC. Not affiliated with the SEC or any fund.