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Asset Manager ← All Institutions

SCHARF INVESTMENTS, LLC

16450 LOS GATOS BLVD SUITE 207, LOS GATOS, CA 95032 • 831-429-6513

Q4 2025 · Filed 2026-01-15
Market Value
$3.7B
-6.4%
Holdings
76
-4
New Purchases
8
Added To
15
Closed
5
Reduced
42
Top 10 Concentration
45.7%
Turnover
17.1%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
META 2.72% 0.07% +2.65% $101M
MMC 1.79% 0.00% +1.79% $66M
BKNG 3.73% 2.00% +1.73% $139M
UNH 1.59% 0.31% +1.28% $59M
ZTS 2.77% 1.82% +0.95% $103M
SPY 1.29% 0.40% +0.89% $48M
OTIS 2.69% 1.84% +0.85% $100M
CB 2.63% 2.13% +0.50% $98M
FNV 3.86% 3.36% +0.50% $143M
CNC 2.35% 1.89% +0.46% $87M
GKAT 2.93% 2.50% +0.43% $109M
MKL 4.00% 3.63% +0.37% $149M
TMO 2.18% 1.84% +0.35% $81M
CNI 0.22% 0.00% +0.22% $8M
A 1.94% 1.84% +0.11% $72M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
FI 0.03% 3.67% -3.65% $943K
CMCSA 0.07% 1.96% -1.89% $3M
ORCL 2.68% 4.57% -1.88% $100M
DCI 0.65% 1.59% -0.94% $24M
OXY 3.25% 4.09% -0.84% $121M
IFF 0.02% 0.77% -0.75% $719K
MSFT 4.92% 5.56% -0.65% $183M
MCK 5.86% 6.32% -0.46% $218M
SNN 1.49% 1.85% -0.36% $56M
NVS 3.57% 3.91% -0.34% $133M
BRK-B 4.17% 4.47% -0.30% $155M
KAT 6.95% 7.22% -0.27% $259M
LMT 2.02% 2.29% -0.27% $75M
UHAL 0.58% 0.79% -0.20% $22M
BN 4.34% 4.54% -0.20% $161M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 39.3%
Healthcare 20.3%
Industrials 11.3%
Energy 7.4%
Technology 6.8%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 17 $947M 25.5%
Large Cap 45 $2.3B 62.3%
Mid Cap 8 $86M 2.3%
Small Cap 3 $259M 7.0%
Micro Cap 3 $110M 2.9%

Portfolio Analytics

Avg Market Cap
$490.1B
Median Market Cap
$88.8B
Avg P/E
29.9
Median P/E
24.7
Avg Dividend Yield
0.01%
Avg Beta
0.93
# Stocks
64
# ETFs / Funds
12

Top Holdings (76 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 KAT 6.95% 4,701,050 $259M $55.00 -$28M -396,667 -7.8%
2 MCK 5.86% 265,731 $218M $820.33 -$33M -59,002 -18.2%
3 MSFT 4.92% 378,096 $183M $483.63 -$38M -48,509 -11.4%
4 BN 4.34% 3,515,805 $161M $45.89 -$19M +886,495 +33.7%
5 BRK-B 4.17% 308,528 $155M $502.67 -$22M -44,368 -12.6%
6 UNP 4.08% 655,996 $152M $231.32 -$6M -12,096 -1.8%
7 MKL 4.00% 69,203 $149M $2,150.11 $5M -6,143 -8.2%
8 FNV 3.86% 692,209 $143M $207.28 $10M +94,465 +15.8%
9 V 3.81% 403,573 $142M $350.72 -$10M -40,300 -9.1%
10 BKNG 3.73% 25,849 $139M $5,358.56 $59M +11,165 +76.0%
11 NVS 3.57% 962,900 $133M $137.87 -$23M -248,048 -20.5%
12 OXY 3.25% 2,939,724 $121M $41.12 -$42M -499,911 -14.5%
13 GKAT 2.93% 2,659,431 $109M $40.94 $10M +170,670 +6.9%
14 CME 2.87% 391,015 $107M $273.09 -$7M -31,055 -7.4%
15 ZTS 2.77% 818,875 $103M $125.82 $31M +324,659 +65.7%
16 META 2.72% 152,940 $101M $660.16 $98M +149,287 +4086.7%
17 OTIS 2.69% 1,145,040 $100M $87.35 $27M +344,439 +43.0%
18 ORCL 2.68% 511,594 $100M $194.91 -$82M -133,053 -20.6%
19 CB 2.63% 313,636 $98M $312.13 $13M +14,154 +4.7%
20 DIS 2.46% 802,514 $91M $113.77 -$5M -41,352 -4.9%
21 HSY 2.43% 495,776 $90M $181.99 -$10M -38,244 -7.2%
22 CNC 2.35% 2,123,245 $87M $41.15 $12M +20,046 +0.9%
23 TMO 2.18% 140,004 $81M $579.51 $8M -10,342 -6.9%
24 ADBE 2.10% 222,911 $78M $350.01 -$3M -8,014 -3.5%
25 LMT 2.02% 155,178 $75M $483.72 -$16M -26,656 -14.7%
26 AON 1.98% 208,111 $73M $352.91 -$5M -11,977 -5.4%
27 A 1.94% 531,223 $72M $136.07 -$596K -36,593 -6.4%
28 MMC 1.79% 357,764 $66M $185.53 +357,764 NEW
29 UNH 1.59% 178,972 $59M $330.13 $47M +143,122 +399.2%
30 SNN 1.49% 1,692,649 $56M $32.81 -$18M -336,402 -16.6%
31 SPY 1.29% 70,284 $48M $681.98 $32M +46,409 +194.4%
32 UHAL-B 1.03% 821,963 $38M $46.74 -$8M -80,271 -8.9%
33 DCI 0.65% 273,570 $24M $88.66 -$39M -498,602 -64.6%
34 UHAL 0.58% 431,250 $22M $50.41 -$10M -116,865 -21.3%
35 HLN 0.30% 1,095,734 $11M $10.11 $3M +162,406 +17.4%
36 CNI 0.22% 83,790 $8M $98.85 +83,790 NEW
37 CVS 0.22% 103,497 $8M $79.36 $570K +2,107 +2.1%
38 NVDA 0.17% 33,885 $6M $186.50 -$728K -3,888 -10.3%
39 GOOG 0.11% 13,447 $4M $313.80 -$1M -8,080 -37.5%
40 GOOGL 0.10% 12,035 $4M $313.02 $480K -1,487 -11.0%
41 INTU 0.09% 5,132 $3M $662.47 -$633K -774 -13.1%
42 AAPL 0.09% 12,237 $3M $271.86 -$89K -1,177 -8.8%
43 IWB 0.08% 8,313 $3M $373.47 +8,313 NEW
44 SYK 0.07% 7,801 $3M $351.47 -$445K -821 -9.5%
45 MA 0.07% 4,727 $3M $570.96 -$269K -491 -9.4%
46 CMCSA 0.07% 85,847 $3M $29.89 -$75M -2,390,225 -96.5%
47 AVGO 0.06% 6,766 $2M $346.10 $1M +2,789 +70.1%
48 LLY 0.06% 2,063 $2M $1,074.70 $352K -381 -15.6%
49 CRM 0.06% 8,040 $2M $264.91 -$437K -2,792 -25.8%
50 VWO 0.06% 38,131 $2M $53.76 -$16K
51 GWW 0.05% 1,931 $2M $1,009.27 -$197K -320 -14.2%
52 ADP 0.04% 6,248 $2M $257.25 -$496K -917 -12.8%
53 BRK-A 0.04% 2 $2M $754,800.00 $1K
54 APD 0.03% 4,569 $1M $247.02 -$484K -1,344 -22.7%
55 ETN 0.03% 3,156 $1M $318.52 -$322K -391 -11.0%
56 IMNM 0.03% 44,389 $953K $21.48 $434K
57 APH 0.03% 7,034 $951K $135.14 +7,034 NEW
58 FI 0.03% 14,044 $943K $67.17 -$145M -1,116,965 -98.8%
59 RSP 0.02% 4,342 $832K $191.56 +4,342 NEW
60 VOO 0.02% 1,322 $829K $627.13 +1,322 NEW
61 UBER 0.02% 9,685 $791K $81.71 -$486K -3,350 -25.7%
62 SLB 0.02% 20,295 $779K $38.38 $44K -1,089 -5.1%
63 IFF 0.02% 10,669 $719K $67.39 -$30M -488,750 -97.9%
64 VV 0.01% 1,768 $557K $314.79 +1,768 NEW
65 SHY 0.01% 6,063 $502K $82.83 $52K +640 +11.8%
66 CARG 0.01% 11,868 $455K $38.35 $13K
67 SEMG 0.01% 14,770 $405K $27.40 +14,770 NEW
68 CRTX 0.01% 91,061 $305K $3.35 $157K
69 MLKN 0.01% 12,848 $235K $18.28 -$101K -6,066 -32.1%
70 BIL 0.01% 2,196 $201K $91.37 -$5M -53,253 -96.0%
71 PDM —% 14,812 $124K $8.34 -$10K
72 BMA —% -$844K -19,965 -100.0% SOLD
73 KRC —% -$210K -4,963 -100.0% SOLD
74 SONY —% -$5M -181,601 -100.0% SOLD
75 DIA —% -$508K -1,095 -100.0% SOLD
76 GGAL —% -$763K -27,686 -100.0% SOLD

New Positions

SymbolValue% Port
MMC $66M 1.79%
CNI $8M 0.22%
IWB $3M 0.08%
APH $951K 0.03%
RSP $832K 0.02%
VOO $829K 0.02%
VV $557K 0.01%
SEMG $405K 0.01%

Sold Out Positions

SymbolValue% Port
BMA —%
KRC —%
SONY —%
DIA —%
GGAL —%
View SEC EDGAR Filings for SCHARF INVESTMENTS, LLC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms