Investor: Francois Rochon
Number of Assets: 52
Reporting Period: Q3 - 2025
Holdings at Report: $3,135,503,721
Return Since Report: -$148,070,315
Return Since Report: -4.72%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| Alphabet Inc. (GOOGL) | Equity | -5.39% | 359,143 | 2.78% | $243.10 | $309.47 | $87,307,663 | $111,143,984 | +$23,836,321 | +27.30% |
| Capital One Financial Corp. (COF) | Equity | -10.77% | 8,275 | 0.06% | $212.58 | $237.02 | $1,759,100 | $1,961,316 | +$202,216 | +11.50% |
| Kinsale Capital Group Inc. (KNSL) | Equity | +6.31% | 190,462 | 2.58% | $425.26 | $388.01 | $80,995,870 | $73,901,161 | -$7,094,709 | -8.76% |
| Microsoft Corp. (MSFT) | Equity | -26.05% | 1,703 | 0.03% | $517.95 | $478.84 | $882,069 | $815,465 | -$66,604 | -7.55% |
| The Progressive Corp. (PGR) | Equity | +2.60% | 533,889 | 4.20% | $246.95 | $234.60 | $131,843,889 | $125,252,495 | -$6,591,394 | -5.00% |
| SPDR Gold Shares (GLD) | Equity | 0% | 3,876 | 0.04% | $355.47 | $395.19 | $1,377,802 | $1,531,764 | +$153,962 | +11.17% |
| Visa Inc. (V) | Equity | +1.05% | 405,520 | 4.42% | $341.38 | $347.47 | $138,436,418 | $140,906,034 | +$2,469,616 | +1.78% |
| Analog Devices Inc. (ADI) | Equity | +0.20% | 176,468 | 1.38% | $245.70 | $279.68 | $43,358,188 | $49,353,688 | +$5,995,500 | +13.83% |
| Berkshire Hathaway Inc. (BRK-A) | Equity | 0% | 11 | 0.27% | $770,185.00 | $745,241.06 | $8,472,035 | $8,197,652 | -$274,383 | -3.24% |
| Brown & Brown Inc. (BRO) | Equity | +0.19% | 322,246 | 0.96% | $93.79 | $81.21 | $30,223,452 | $26,169,598 | -$4,053,854 | -13.41% |
| Costco Wholesale Corp. (COST) | Equity | 0% | 240 | 0.01% | $924.32 | $876.53 | $221,837 | $210,367 | -$11,470 | -5.17% |
| Heico Corp. (HEI-A) | Equity | +0.00% | 749,501 | 6.07% | $254.09 | $243.28 | $190,440,709 | $182,336,355 | -$8,104,354 | -4.26% |
| Lululemon Athletica Inc. (LULU) | Equity | +0.02% | 144,001 | 0.82% | $177.93 | $206.46 | $25,622,098 | $29,729,726 | +$4,107,628 | +16.03% |
| Medpace Holdings Inc. (MEDP) | Equity | +0.02% | 261,802 | 4.29% | $514.16 | $559.83 | $134,608,116 | $146,564,614 | +$11,956,498 | +8.88% |
| Booking Holdings Inc. (BKNG) | Equity | +0.25% | 21,343 | 3.68% | $5,399.27 | $5,318.58 | $115,236,620 | $113,514,453 | -$1,722,167 | -1.49% |
| Littelfuse Inc. (LFUS) | Equity | +0.18% | 81,257 | 0.67% | $259.01 | $263.23 | $21,046,376 | $21,388,874 | +$342,498 | +1.63% |
| Novo Nordisk As (NVO) | Equity | 0% | 12,400 | 0.02% | $55.49 | $50.22 | $688,076 | $622,666 | -$65,410 | -9.51% |
| Resmed Inc. (RMD) | Equity | +100% | 235,418 | 2.06% | $273.73 | N/A | $64,440,969 | N/A | N/A | N/A |
| SPDR S&P 500 ETF Trust (SPY) | Equity | 0% | 2,474 | 0.05% | $666.18 | $681.29 | $1,648,129 | $1,685,511 | +$37,382 | +2.27% |
| Ametek Inc. (AME) | Equity | +0.03% | 996,676 | 5.98% | $188.00 | $201.40 | $187,375,088 | $200,732,540 | +$13,357,452 | +7.13% |
| Bank Ozk (OZK) | Equity | +0.24% | 1,261,960 | 2.05% | $50.98 | $48.35 | $64,334,721 | $61,015,766 | -$3,318,955 | -5.16% |
| Copart Inc. (CPRT) | Equity | 0% | 27,484 | 0.04% | $44.97 | $38.75 | $1,235,955 | $1,064,868 | -$171,087 | -13.84% |
| Dream Finders Homes Inc. (DFH) | Equity | 0% | 32,202 | 0.03% | $25.92 | $19.62 | $834,676 | $631,803 | -$202,873 | -24.31% |
| Floor & Decor Holdings Inc. (FND) | Equity | +0.13% | 236,148 | 0.56% | $73.70 | $60.98 | $17,404,108 | $14,399,124 | -$3,004,984 | -17.27% |
| JP Morgan Chase & Co. (JPM) | Equity | -0.48% | 50,705 | 0.51% | $315.43 | $317.26 | $15,993,878 | $16,086,668 | +$92,790 | +0.58% |
| Mastercard Inc. (MA) | Equity | -0.42% | 27,724 | 0.50% | $568.81 | $571.42 | $15,769,688 | $15,841,909 | +$72,221 | +0.46% |
| Align Technology Inc. (ALGN) | Equity | -1.44% | 45,691 | 0.18% | $125.22 | $165.65 | $5,721,427 | $7,568,806 | +$1,847,379 | +32.29% |
| Apple Inc. (AAPL) | Equity | -0.59% | 16,875 | 0.14% | $254.63 | $277.98 | $4,296,881 | $4,690,913 | +$394,032 | +9.17% |
| Berkshire Hathaway Inc. (BRK-B) | Equity | -0.22% | 510,644 | 8.19% | $502.74 | $497.61 | $256,721,165 | $254,099,008 | -$2,622,157 | -1.02% |
| Builders Firstsource Inc. (BLDR) | Equity | -0.25% | 87,096 | 6.22% | $2,238.00 | $107.76 | $194,920,848 | $9,385,465 | -$185,535,383 | -95.18% |
| Meta Platforms Inc. (META) | Equity | -2.22% | 311,810 | 7.30% | $734.38 | $646.63 | $228,987,028 | $201,625,700 | -$27,361,328 | -11.95% |
| Old Dominion Freight Line Inc. (ODFL) | Equity | 0% | 5,255 | 0.02% | $140.78 | $158.81 | $739,799 | $834,547 | +$94,748 | +12.81% |
| Siteone Landscape Supply Inc. (SITE) | Equity | 0% | 3,753 | 0.02% | $128.80 | $129.68 | $483,386 | $486,689 | +$3,303 | +0.68% |
| TWFG Inc. (TWFG) | Equity | +68.86% | 300,317 | 0.26% | $27.44 | $29.29 | $8,240,698 | $8,796,285 | +$555,587 | +6.74% |
| Arista Networks Inc. (ANET) | Equity | -14.54% | 412,399 | 1.92% | $145.71 | $124.64 | $60,090,658 | $51,399,349 | -$8,691,309 | -14.46% |
| Birkenstock Holding PLC (BIRK) | Equity | 0% | 27,392 | 0.04% | $45.25 | $45.27 | $1,239,488 | $1,240,036 | +$548 | +0.04% |
| The Walt Disney Company (DIS) | Equity | -0.03% | 260,400 | 0.95% | $114.50 | $111.35 | $29,815,800 | $28,995,540 | -$820,260 | -2.75% |
| NVR Inc. (NVR) | Equity | +0.26% | 14,075 | 3.61% | $8,034.66 | $7,512.97 | $113,087,840 | $105,745,053 | -$7,342,787 | -6.49% |
| The Charles Schwab Corp. (SCHW) | Equity | +0.53% | 1,575,776 | 4.80% | $95.47 | $95.70 | $150,439,335 | $150,801,763 | +$362,428 | +0.24% |
| Taiwan Semiconductor Manufacturing Company Limited (TSM) | Equity | -29.32% | 8,163 | 0.07% | $279.29 | $294.28 | $2,279,844 | $2,402,208 | +$122,364 | +5.37% |
| Alphabet Inc. (GOOG) | Equity | -2.37% | 638,213 | 4.96% | $243.55 | $310.80 | $155,436,776 | $198,356,600 | +$42,919,824 | +27.61% |
| Carmax Inc. (KMX) | Equity | +0.86% | 1,670,114 | 2.39% | $44.87 | $41.14 | $74,938,015 | $68,708,490 | -$6,229,525 | -8.31% |
| Five Below Inc. (FIVE) | Equity | +1.79% | 637,090 | 3.14% | $154.70 | $182.03 | $98,557,823 | $115,969,493 | +$17,411,670 | +17.67% |
| Ishares U.S. Home Construction ETF (ITB) | Equity | +0.37% | 11,561 | 0.04% | $107.25 | $102.00 | $1,239,917 | $1,179,222 | -$60,695 | -4.90% |
| Markel Group Inc. (MKL) | Equity | +0.30% | 43,829 | 2.67% | $1,911.36 | $2,160.37 | $83,772,997 | $94,686,857 | +$10,913,860 | +13.03% |
| Yum China Holdings Inc. (YUMC) | Equity | 0% | 36,036 | 0.05% | $42.92 | $48.65 | $1,546,665 | $1,753,151 | +$206,486 | +13.35% |
| Credit Acceptance Corp. (CACC) | Equity | -77.46% | 6,874 | 0.08% | $376.00 | $470.60 | $2,584,624 | $3,234,904 | +$650,280 | +25.16% |
| Fiserv Inc. (FI) | Equity | +0.41% | 651,257 | 2.68% | $128.93 | $68.16 | $83,966,565 | $44,389,677 | -$39,576,888 | -47.13% |
| Installed Building Products Inc. (IBP) | Equity | +0.05% | 514,736 | 4.05% | $246.66 | $275.99 | $126,964,782 | $142,059,415 | +$15,094,633 | +11.89% |
| M&T Bank Corp. (MTB) | Equity | 0% | 7,540 | 0.05% | $197.62 | $202.99 | $1,490,055 | $1,530,507 | +$40,452 | +2.71% |
| Ferguson Enterprises Inc. (FERG) | Equity | -0.49% | 35,503 | 0.25% | $224.58 | $223.92 | $7,973,264 | $7,949,832 | -$23,432 | -0.29% |
| Keysight Technologies Inc. (KEYS) | Equity | +0.10% | 333,927 | 1.86% | $174.92 | $209.76 | $58,410,511 | $70,044,528 | +$11,634,017 | +19.92% |