Cheviot Value Management, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 3, 2026), Cheviot Value Management, LLC reported 414 stock positions worth $1.0 billion. Its top holding was Berkshire Hathaway Class B (BRK.B) at 10.9% of the portfolio, followed by iShares 0-3 Month Treasury B (SGOV, 9.6%) and Agnico Eagle Mines (AEM, 9.3%). Compared with Q3 2025, it opened 5 new positions, sold out of 36, added to 52 and reduced 88. The biggest buy was iShares 0-3 Month Treasury B (SGOV, shares +12%) and the biggest sale Berkshire Hathaway Class B (BRK.B, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- BEVERLY HILLS, CA
- CIK
- 0001427147
- Portfolio Value
- $1.0B (Q4 2025)
- SEC Filing
- 0001140361-26-003468 ↗ filed Feb 3, 2026
Holdings Value
Holdings 414 stocks · $1.0B
| BRK.B Berkshire Hathaway Inc. Class B | 10.90% | 234,394 | $111.0M | Reduce -1.2% |
| SGOV iShares 0-3 Month Treasury B | 9.65% | 976,055 | $98.2M | Add +12.3% |
| AEM Agnico Eagle Mines Ltd. | 9.33% | 425,853 | $95.0M | Reduce -8.0% |
| GOOGL Alphabet Inc. Class A | 5.98% | 181,144 | $60.9M | Reduce -4.3% |
| TOTL SS Doubleline TR Tact ETF | 5.02% | 1,269,271 | $51.2M | Add +17.5% |
| JNJ Johnson & Johnson | 3.71% | 165,729 | $37.7M | Reduce -2.5% |
| CEF Sprott Physical Gold and Sil | 3.64% | 626,340 | $37.0M | Reduce -13.8% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 3.47% | 319,299 | $35.3M | Add +8.4% |
| NEM Newmont Corp. | 3.09% | 238,737 | $31.5M | Reduce -24.3% |
| TDTF NT Iboxx 5Y Dur Tips ETF | 3.05% | 1,290,146 | $31.0M | Add +5.9% |
| MSFT Microsoft Corp. | 2.70% | 57,100 | $27.5M | Reduce -1.5% |
| META Meta Platforms Inc. Class A | 2.66% | 40,502 | $27.1M | Reduce -1.9% |
| V Visa Inc. Class A | 2.36% | 73,492 | $24.0M | Add +4.1% |
| UL Unilever PLC-Sponsored ADR | 2.17% | 332,017 | $22.1M | Reduce -0.9% |
| AMZN Amazon.com Inc. | 1.79% | 74,808 | $18.2M | Add +8.2% |
| MRK Merck & Co. Inc. | 1.78% | 169,736 | $18.1M | Add +2.7% |
| B Barrick Mining Corp. | 1.72% | 330,761 | $17.5M | Reduce -22.5% |
| XOM Exxon Mobil Corp. | 1.71% | 126,893 | $17.5M | Add +0.5% |
| CMCSA Comcast Corp. Class A | 1.56% | 557,851 | $15.8M | Add +12.0% |
| PFE Pfizer Inc. | 1.41% | 555,832 | $14.4M | Add +12.0% |
| BRK.A Berkshire Hathaway Inc. Class A | 1.39% | 20 | $14.2M | No change |
| CVX Chevron Corp. | 1.39% | 83,192 | $14.1M | Add +1.5% |
| MKL Markel Group Inc. | 1.35% | 6,840 | $13.8M | Add +1.3% |
| COP Conocophillips | 1.19% | 119,389 | $12.1M | Add +6.7% |
| PAAS Pan American Silver Corp. | 0.92% | 142,308 | $9.4M | Reduce -20.9% |
| AGI Alamos Gold Inc. Class A | 0.92% | 209,985 | $9.3M | Add +11.1% |
| AAPL Apple Inc. | 0.87% | 34,616 | $8.9M | Reduce -5.5% |
| QQQ Invesco QQQ Trust Series 1 | 0.71% | 11,429 | $7.2M | Reduce -0.2% |
| GDX Vaneck Gold Miners ETF | 0.65% | 58,977 | $6.6M | Reduce -10.5% |
| DEM Wisdomtree Emerging Markets | 0.62% | 125,506 | $6.3M | Reduce -0.4% |
| ABBV Abbvie Inc. | 0.60% | 28,117 | $6.1M | Reduce -1.5% |
| IBDT iShares Ibonds Dec 2028 ETF | 0.59% | 237,044 | $6.0M | Add +8.7% |
| IBDW iShares Ibonds Dec 2031 Corp. | 0.58% | 280,289 | $5.9M | Add +6.5% |
| FNDE Schwab Fndmntl Em MRK Eq ETF | 0.51% | 129,165 | $5.2M | Reduce -0.4% |
| OXY Occidental Petroleum Corp. | 0.45% | 102,956 | $4.6M | Reduce -15.8% |
| OAKM Oakmark US Large Cap ETF | 0.36% | 131,390 | $3.7M | Add +140.5% |
| LBRDK Liberty Broadband-C | 0.33% | 77,726 | $3.3M | Reduce -32.7% |
| CVS CVS Health Corp. | 0.31% | 42,896 | $3.2M | Reduce -4.1% |
| PSX Phillips 66 | 0.31% | 22,146 | $3.1M | Add +0.1% |
| AGG iShares Core U.S. Aggregate | 0.31% | 31,355 | $3.1M | Reduce -11.0% |
| SCHO Schwab Short-Term US Treas | 0.30% | 124,818 | $3.0M | Add +5.9% |
| PID Invesco International Divide | 0.29% | 129,134 | $2.9M | Reduce -0.0% |
| VOO Vanguard S&P 500 ETF | 0.26% | 4,140 | $2.6M | Add +6.3% |
| NVDA Nvidia Corp. | 0.26% | 13,591 | $2.6M | Reduce -1.6% |
| JPM JPMorgan Chase & Co. | 0.24% | 8,173 | $2.5M | Reduce -1.4% |
| URNM Sprott Uranium Miners ETF | 0.23% | 27,330 | $2.3M | No change |
| BSV Vanguard Short-Term Bond ETF | 0.20% | 26,094 | $2.1M | Reduce -3.8% |
| AMAT Applied Materials Inc. | 0.17% | 5,161 | $1.7M | No change |
| PM Philip Morris International | 0.17% | 9,678 | $1.7M | Reduce -9.5% |
| SMH Vaneck Semiconductor ETF | 0.17% | 4,100 | $1.7M | No change |
| GOOG Alphabet Inc. Class C | 0.16% | 4,836 | $1.6M | Reduce -2.2% |
| COST Costco Wholesale Corp. | 0.16% | 1,689 | $1.6M | Reduce -3.2% |
| VZ Verizon Communications Inc. | 0.15% | 38,334 | $1.5M | Reduce -13.3% |
| ABT Abbott Laboratories | 0.14% | 13,610 | $1.4M | Reduce -5.1% |
| MICC The Magnum Ice Cream Co. NV | 0.13% | 74,222 | $1.3M | Reduce -1.6% |
| GOVT iShares US Treasury Bond ETF | 0.13% | 56,742 | $1.3M | Add +57.3% |
| AMGN Amgen Inc. | 0.13% | 3,762 | $1.3M | No change |
| WDC Western Digital Corp. | 0.12% | 4,365 | $1.2M | Reduce -34.9% |
| SNDK Sandisk Corp. | 0.10% | 2,014 | $1.1M | Reduce -21.6% |
| MCD McDonald's Corp. | 0.10% | 3,343 | $1.0M | Reduce -0.7% |
| DVN Devon Energy Corp. | 0.10% | 25,431 | $1.0M | Reduce -13.2% |
| MDT Medtronic PLC | 0.09% | 9,427 | $950K | Reduce -90.4% |
| XBI SS SPDR S&P Biotech ETF | 0.09% | 7,100 | $894K | Add +1.1% |
| TSLA Tesla Inc. | 0.09% | 2,005 | $865K | Reduce -22.0% |
| CAH Cardinal Health Inc. | 0.08% | 4,100 | $863K | No change |
| VUSB Vanguard Ultra Short Bond Et | 0.08% | 16,805 | $840K | Add +121.1% |
| WFC Wells Fargo & Co. | 0.08% | 9,500 | $836K | Reduce -3.1% |
| GLIBK Liberty Capital Corp. Class C filed as GCI LIBERTY INC | 0.08% | 23,004 | $834K | Reduce -11.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.08% | 1,179 | $820K | Reduce -20.8% |
| MS Morgan Stanley | 0.08% | 4,325 | $789K | Add +2.4% |
| CDNS Cadence Design SYS Inc. | 0.07% | 2,287 | $733K | No change |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.07% | 14,078 | $729K | Reduce -0.1% |
| SNPS Synopsys Inc. | 0.07% | 1,397 | $714K | Reduce -0.8% |
| MMM 3M Co. | 0.07% | 4,510 | $703K | Reduce -2.2% |
| GLW Corning Inc. | 0.06% | 6,262 | $653K | Reduce -0.1% |
| RTX RTX Corp. | 0.06% | 3,205 | $639K | Reduce -2.8% |
| COR Cencora Inc. | 0.06% | 1,788 | $627K | No change |
| ITA iShares U.S. Aerospace & Def | 0.06% | 2,649 | $619K | No change |
| LLY Eli Lilly & Co. | 0.06% | 581 | $595K | No change |
| VSNT Versant Media Group Inc. | 0.06% | 17,672 | $594K | New |
| MA Mastercard Inc. Class A | 0.06% | 1,118 | $583K | Reduce -5.9% |
| SLV iShares Silver Trust | 0.06% | 5,430 | $573K | No change |
| ORCL Oracle Corp. | 0.06% | 3,304 | $571K | Reduce -1.3% |
| MO Altria Group Inc. | 0.06% | 9,008 | $569K | Add +0.1% |
| SPG Simon Property Group Inc. | 0.06% | 3,065 | $563K | No change |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.05% | 5,066 | $555K | Reduce -51.9% |
| VT Vanguard Tot World STK ETF | 0.05% | 3,571 | $524K | No change |
| HD Home Depot Inc. | 0.05% | 1,350 | $507K | No change |
| GS Goldman Sachs Group Inc. | 0.05% | 533 | $499K | No change |
| QCOM Qualcomm Inc. | 0.05% | 3,030 | $463K | Reduce -2.5% |
| F Ford Motor Co. filed as FORD MTR CO | 0.04% | 32,595 | $450K | No change |
| NOC Northrop Grumman Corp. | 0.04% | 650 | $448K | No change |
| NSC Norfolk Southern Corp. | 0.04% | 1,535 | $437K | No change |
| FISV Fiserv Inc. | 0.04% | 6,717 | $436K | Reduce -86.7% |
| BTI British American Tob-SP ADR | 0.04% | 7,175 | $432K | Add +13.4% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.04% | 847 | $415K | No change |
| TXN Texas Instruments Inc. | 0.04% | 1,916 | $414K | No change |
| TGT Target Corp. | 0.04% | 3,991 | $406K | Reduce -3.4% |
| INTC Intel Corp. | 0.04% | 8,314 | $406K | Reduce -64.3% |
| RGA Reinsurance Group of America | 0.04% | 2,050 | $403K | No change |
Lines left out (1) · $5 — a value with no share or principal amount
| Security | Class | Shares | Value |
|---|---|---|---|
| BITO Proshares Bitcoin ETF-Usd | BITCOIN ETF | 0 | $5 |
Filed with a value but no share or principal amount (a cash line, a holding rounded to 0 shares), so they are kept out of the holdings, totals and percentages.
Total filed on the 13F, all lines: $1.0B.
Portfolio Sells Q3 2025 → Q4 2025
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -1.2% | 10.90% | −1.25 |
| MDT Medtronic PLC | Reduce -90.4% | 0.09% | −0.88 |
| MSFT Microsoft Corp. | Reduce -1.5% | 2.70% | −0.64 |
| META Meta Platforms Inc. Class A | Reduce -1.9% | 2.66% | −0.64 |
| FISV Fiserv Inc. | Reduce -86.7% | 0.04% | −0.64 |
| LBRDK Liberty Broadband-C | Reduce -32.7% | 0.33% | −0.38 |
| UL Unilever PLC-Sponsored ADR | Reduce -0.9% | 2.17% | −0.32 |
| AAPL Apple Inc. | Reduce -5.5% | 0.87% | −0.18 |
| ABBV Abbvie Inc. | Reduce -1.5% | 0.60% | −0.09 |
| SIG Signet Jewelers Ltd. | Sold out | 0.00% | −0.08 |
| CVS CVS Health Corp. | Reduce -4.1% | 0.31% | −0.08 |
| OXY Occidental Petroleum Corp. | Reduce -15.8% | 0.45% | −0.08 |
| AGG iShares Core U.S. Aggregate | Reduce -11.0% | 0.31% | −0.07 |
| DIS The Walt Disney Co. | Reduce -51.9% | 0.05% | −0.07 |
| BA The Boeing Co. | Reduce -66.2% | 0.03% | −0.06 |
| INTC Intel Corp. | Reduce -64.3% | 0.04% | −0.06 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -0.2% | 0.71% | −0.06 |
| ABT Abbott Laboratories | Reduce -5.1% | 0.14% | −0.05 |
| CHTR Charter Communications Inc. Class A | Sold out | 0.00% | −0.05 |
| ETSY Etsy Inc. | Sold out | 0.00% | −0.05 |
| ORCL Oracle Corp. | Reduce -1.3% | 0.06% | −0.04 |
| ALK Alaska Air Group Inc. | Sold out | 0.00% | −0.04 |
| PYPL PayPal Holdings Inc. | Reduce -98.7% | 0.00% | −0.04 |
| TSLA Tesla Inc. | Reduce -22.0% | 0.09% | −0.04 |
| NVDA Nvidia Corp. | Reduce -1.6% | 0.26% | −0.04 |
| VZ Verizon Communications Inc. | Reduce -13.3% | 0.15% | −0.04 |
| NE Noble Corp. PLC | Sold out | 0.00% | −0.04 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -20.8% | 0.08% | −0.03 |
| JPM JPMorgan Chase & Co. | Reduce -1.4% | 0.24% | −0.03 |
| BSV Vanguard Short-Term Bond ETF | Reduce -3.8% | 0.20% | −0.03 |
| UPS United Parcel Service Class B | Sold out | 0.00% | −0.03 |
| CPRI Capri Holdings Ltd. | Sold out | 0.00% | −0.02 |
| GLIBK Liberty Capital Corp. Class C | Reduce -11.0% | 0.08% | −0.02 |
| ITDI iShares Lifepath Target 2065 | Sold out | 0.00% | −0.02 |
| HPE Hewlett Packard Enterprise | Reduce -99.2% | 0.00% | −0.02 |
| UNH Unitedhealth Group Inc. | Reduce -13.0% | 0.03% | −0.01 |
| QCOM Qualcomm Inc. | Reduce -2.5% | 0.05% | −0.01 |
| MA Mastercard Inc. Class A | Reduce -5.9% | 0.06% | −0.01 |
| MICC The Magnum Ice Cream Co. NV | Reduce -1.6% | 0.13% | −0.01 |
| MMM 3M Co. | Reduce -2.2% | 0.07% | −0.01 |
| COST Costco Wholesale Corp. | Reduce -3.2% | 0.16% | −0.01 |
| VONG Vanguard Russell 1000 Growth | Sold out | 0.00% | −0.01 |
| VCSH Vanguard S/T Corp. Bond ETF | Reduce -99.8% | 0.00% | −0.01 |
| PID Invesco International Divide | Reduce -0.0% | 0.29% | −0.01 |
| WFC Wells Fargo & Co. | Reduce -3.1% | 0.08% | −0.01 |
| FNDE Schwab Fndmntl Em MRK Eq ETF | Reduce -0.4% | 0.51% | −0.01 |
| BAC Bank of America Corp. | Reduce -0.1% | 0.07% | −0.01 |
| DHR Danaher Corp. | Reduce -34.7% | 0.01% | −0.01 |
| MCD McDonald's Corp. | Reduce -0.7% | 0.10% | −0.01 |
| HPQ HP Inc. | Reduce -58.1% | 0.00% | −0.01 |
Portfolio Buys Q3 2025 → Q4 2025
| SGOV iShares 0-3 Month Treasury B | Add +12.3% | 9.65% | +0.34 |
| TOTL SS Doubleline TR Tact ETF | Add +17.5% | 5.02% | +0.33 |
| AGI Alamos Gold Inc. Class A | Add +11.1% | 0.92% | +0.28 |
| MRK Merck & Co. Inc. | Add +2.7% | 1.78% | +0.25 |
| OAKM Oakmark US Large Cap ETF | Add +140.5% | 0.36% | +0.21 |
| XOM Exxon Mobil Corp. | Add +0.5% | 1.71% | +0.17 |
| COP Conocophillips | Add +6.7% | 1.19% | +0.16 |
| PFE Pfizer Inc. | Add +12.0% | 1.41% | +0.12 |
| AMZN Amazon.com Inc. | Add +8.2% | 1.79% | +0.10 |
| VSNT Versant Media Group Inc. | New | 0.06% | +0.06 |
| CVX Chevron Corp. | Add +1.5% | 1.39% | +0.05 |
| VUSB Vanguard Ultra Short Bond Et | Add +121.1% | 0.08% | +0.04 |
| GOVT iShares US Treasury Bond ETF | Add +57.3% | 0.13% | +0.04 |
| MKL Markel Group Inc. | Add +1.3% | 1.35% | +0.03 |
| VOOG Vanguard S&P 500 Growth ETF | New | 0.02% | +0.02 |
| BTI British American Tob-SP ADR | Add +13.4% | 0.04% | +0.01 |
| CMCSA Comcast Corp. Class A | Add +12.0% | 1.56% | +0.01 |
| XBI SS SPDR S&P Biotech ETF | Add +1.1% | 0.09% | +0.00 |
| RKT Rocket Cos Inc. Class A | Add +62.3% | 0.01% | +0.00 |
| HON Honeywell International Inc. | Add +32.1% | 0.02% | +0.00 |
| MS Morgan Stanley | Add +2.4% | 0.08% | +0.00 |
| RKLB Rocket Lab Corp. | Add +10.6% | 0.01% | +0.00 |
| VDE Vanguard Energy ETF | Add +23.9% | 0.01% | +0.00 |
| T AT&T Inc. | Add +163.7% | 0.00% | +0.00 |
| IBDT iShares Ibonds Dec 2028 ETF | Add +8.7% | 0.59% | +0.00 |
| GILD Gilead Sciences Inc. | Add +0.7% | 0.01% | +0.00 |
| HASI Ha Sustainable Infrastructur | Add +1.3% | 0.01% | +0.00 |
| GVA Granite Construction Inc. | Add +0.1% | 0.01% | +0.00 |
| ICLN iShares Global Clean Energy | Add +0.4% | 0.01% | +0.00 |
| Q Qnity Electronics Inc. | Add +149.4% | 0.00% | +0.00 |
| ITDG iShares Lifepth Targ DT 2055 | New | 0.00% | +0.00 |
| IVV iShares Core S&P 500 ETF | Add +15.2% | 0.00% | +0.00 |
| GNPX Genprex Inc. | New | 0.00% | +0.00 |
| SCHE Schwab Emrg Mrkts Eqty ETF | Add +13.2% | 0.00% | +0.00 |
| COF Capital One Financial Corp. | Add +10.0% | 0.02% | +0.00 |
| BUG Global X Cybersecurity ETF | Add +33.3% | 0.00% | +0.00 |
| SCHD Schwab US DVD Equity ETF | Add +0.3% | 0.01% | +0.00 |
| VLO Valero Energy Corp. | Add +0.3% | 0.02% | +0.00 |
| EWU iShares MSCI United Kingdom | Add +10.0% | 0.00% | 0.00 |
| PPG PPG Industries Inc. | Add +0.8% | 0.00% | 0.00 |
| VOD Vodafone Group PLC-SP ADR | New | 0.00% | 0.00 |
| BLDR Builders Firstsource Inc. | Add +10.1% | 0.03% | −0.00 |
| NOBL Proshares S&P 500 Dividend A | Add +0.8% | 0.00% | −0.00 |
| FNDB Schwab Fndmntl US BRD Mr ETF | Add +0.5% | 0.01% | −0.00 |
| PLTR Palantir Technologies Inc. Class A | Add +21.2% | 0.01% | −0.00 |
| SCHG Schwab US Large-Cap Growth | Add +0.1% | 0.01% | −0.00 |
| IYR iShares US Real Estate ETF | Add +0.1% | 0.01% | −0.00 |
| DELL Dell Technologies -C | Add +0.3% | 0.00% | −0.00 |
| VOO Vanguard S&P 500 ETF | Add +6.3% | 0.26% | −0.00 |
| MO Altria Group Inc. | Add +0.1% | 0.06% | −0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 441 | $984.0M | BRK.B, SGOV, AEM, GOOGL, TOTL |
| Q1 2026 | 424 | $995.6M | BRK.B, SGOV, AEM, TOTL, GOOGL |
| Q4 2025 | 414 | $1.0B | BRK.B, SGOV, AEM, GOOGL, TOTL |
| Q3 2025 | 442 | $940.2M | BRK.B, SGOV, AEM, GOOGL, TOTL |
| Q2 2025 | 431 | $872.3M | BRK.B, SGOV, AEM, GOOGL, TOTL |
| Q1 2025 | 453 | $813.1M | BRK.B, SGOV, AEM, TOTL, GOOGL |
| Q4 2024 | 70 | $521.6M | BRK.B, GOOGL, AEM, META, JNJ |
| Q3 2024 | 67 | $530.1M | BRK.B, AEM, GOOGL, JNJ, MSFT |
| Q2 2024 | 69 | $511.3M | BRK.B, GOOGL, AEM, MSFT, JNJ |
| Q1 2024 | 62 | $455.6M | BRK.B, GOOGL, AEM, MSFT, JNJ |