This year, I’ve started to take consideration of François Rochon’s picks via his fund, Giverny Capital. A few days ago, we could see the update of this fund via Whale Wisdom, one of the discoveries of 2016 (thanks to Etienne Pouliot, an obscure reader of this blog). I don't think that all the stocks are that interesting, but it's fun to look at them to see some stocks not that popular among investors.
There was not so much buying and selling for Giverny during the last quarter. Some little buying here and there and a large selling for Knight Transportation.
And there’s a new buy which is Heico (HEI-A), an aerospace and electronic stock with a pretty high PE ratio bought by Merkel recently. It looks like Rochon likes to copy his favorite managers picks (Berkshire, Merkel and Sequoia Fund). The PE is high, the ROE is OK (16-17) and the beta is low. The sector is interesting too. So, why not keeping an eye on that stock?
Actual positions for Giverny Capital
Berkshire Hathaway class B (BRK-B) : 18,2%
LKQ corp (LKQ) : 7,8%
Carmax (KMX) : 8,4%
Bank of the Ozarks (OZRK) : 8,1%
Disney (DIS) : 7,2%
Ametek (AME) : 7,1%
Visa (V) : 4,8%
Merkel (MKL) : 4,6%
Union Pacific (UNP) : 4,6%
Wells Fargo (WFC) : 4,2%
O’Reilly (ORLY): 4,2%
Total 10 first positions : 79,2%
That website doesn’t show canadian holdings. I’m pretty sure that Giverny has a position in MTY Food Group... and they had a position in Dollarama in the past too. Is there anybody knowing what are their canadian holdings?