Saratoga Research & Investment Management
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed July 23, 2026), Saratoga Research & Investment Management reported 46 stock positions worth $1.8 billion. Its top holding was Alphabet Class A (GOOGL) at 9.7% of the portfolio, followed by Novo-Nordisk A/S-Spons ADR (NVO, 8.5%) and Berkshire Hathaway Class B (BRK.B, 7.1%). Compared with Q1 2026, it opened 4 new positions, sold out of 5, added to 6 and reduced 30. The biggest buy was Eli Lilly (LLY, shares +16%) and the biggest sale Accenture Class A (ACN, shares −97%).
- Most Recent 13F
- Q2 2026
- Location
- SARATOGA, CA
- CIK
- 0001477872
- Portfolio Value
- $1.8B (Q2 2026)
- SEC Filing
- 0001477872-26-000004 ↗ filed Jul 23, 2026
Holdings Value
Holdings 46 stocks · $1.8B
| GOOGL Alphabet Inc. Class A | 9.75% | 498,420 | $178.1M | Reduce -18.4% |
| NVO Novo-Nordisk A/S-Spons ADR | 8.49% | 3,236,009 | $155.1M | Reduce -5.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 7.06% | 257,895 | $129.0M | Reduce -5.2% |
| MSFT Microsoft Corp. | 6.82% | 334,179 | $124.7M | Reduce -9.4% |
| UL Unilever PLC-Sponsored ADR | 6.53% | 1,986,430 | $119.4M | Add +6.0% |
| ASML ASML Holding NV-NY Reg SHS filed as ASML HLDG NV | 6.48% | 59,510 | $118.4M | Reduce -7.4% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 5.71% | 1,083,810 | $104.3M | Reduce -4.0% |
| MDT Medtronic PLC | 5.15% | 1,203,285 | $94.1M | Add +2.4% |
| NVDA Nvidia Corp. | 4.21% | 384,865 | $77.0M | Add +14.3% |
| JNJ Johnson & Johnson | 3.87% | 278,459 | $70.7M | Reduce -18.0% |
| LLY Eli Lilly & Co. | 3.53% | 53,862 | $64.6M | Add +15.8% |
| GD General Dynamics Corp. | 3.50% | 180,394 | $63.9M | Reduce -7.1% |
| RHHBY Roche Holdings Ltd.-Spons ADR | 3.34% | 1,188,687 | $61.0M | Reduce -8.0% |
| SBUX Starbucks Corp. | 3.29% | 587,872 | $60.1M | Reduce -6.7% |
| V Visa Inc. Class A | 2.77% | 147,779 | $50.7M | Reduce -5.5% |
| PG The Procter & Gamble Co. | 2.72% | 338,641 | $49.7M | Reduce -6.0% |
| RTX RTX Corp. | 2.53% | 243,447 | $46.2M | Reduce -6.0% |
| CHRW C.H. Robinson Worldwide Inc. | 2.42% | 235,112 | $44.3M | Reduce -6.6% |
| HD Home Depot Inc. | 1.64% | 84,878 | $29.9M | Reduce -4.4% |
| AAPL Apple Inc. | 1.59% | 100,400 | $29.1M | Reduce -10.3% |
| DEO Diageo PLC-Sponsored ADR | 1.59% | 361,038 | $29.0M | Reduce -4.5% |
| PEP Pepsico Inc. | 1.22% | 164,728 | $22.3M | Reduce -5.0% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 1.08% | 215,009 | $19.7M | Reduce -0.0% |
| HON Honeywell International Inc. | 0.93% | 75,789 | $17.0M | Reduce -8.7% |
| HONA Honeywell Aerospace Inc. | 0.92% | 75,656 | $16.7M | Reduce -8.8% |
| CL Colgate-Palmolive Co. | 0.88% | 175,603 | $16.1M | Reduce -7.6% |
| ISRG Intuitive Surgical Inc. | 0.83% | 38,044 | $15.1M | New |
| EMR Emerson Electric Co. | 0.56% | 71,924 | $10.3M | New |
| JQUA JPMorgan US Quality Factor | 0.08% | 19,289 | $1.4M | Add +466.3% |
| BCML Baycom Corp. | 0.06% | 32,035 | $1.1M | New |
| GOOG Alphabet Inc. Class C | 0.05% | 2,829 | $1000K | Reduce -2.9% |
| KO The Coca-Cola Co. | 0.04% | 9,849 | $800K | No change |
| AMGN Amgen Inc. | 0.04% | 2,181 | $790K | Reduce -5.4% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.04% | 2,624 | $738K | Reduce -4.0% |
| APH Amphenol Corp. Class A | 0.04% | 3,958 | $698K | Reduce -1.1% |
| ZTS Zoetis Inc. | 0.03% | 8,249 | $593K | Reduce -0.8% |
| CSCO Cisco Systems Inc. | 0.03% | 4,493 | $528K | Reduce -56.4% |
| VNQ Vanguard Real Estate ETF | 0.03% | 5,414 | $522K | No change |
| AMZN Amazon.com Inc. | 0.03% | 2,000 | $477K | No change |
| LOW Lowe's Cos Inc. | 0.02% | 2,008 | $443K | Add +0.8% |
| ACN Accenture PLC Class A | 0.02% | 3,518 | $438K | Reduce -97.4% |
| LMT Lockheed Martin Corp. | 0.02% | 695 | $354K | No change |
| TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC | 0.02% | 2,977 | $338K | No change |
| PAYX Paychex Inc. | 0.02% | 3,349 | $329K | Reduce -13.8% |
| NVS Novartis AG-Sponsored ADR | 0.01% | 1,490 | $234K | No change |
| MO Altria Group Inc. | 0.01% | 2,920 | $210K | New |
Portfolio Sells Q1 2026 → Q2 2026
| ACN Accenture PLC Class A | Reduce -97.4% | 0.02% | −1.48 |
| HON Honeywell International Inc. | Reduce -8.7% | 0.93% | −1.20 |
| MSFT Microsoft Corp. | Reduce -9.4% | 6.82% | −0.93 |
| JNJ Johnson & Johnson | Reduce -18.0% | 3.87% | −0.84 |
| DIS The Walt Disney Co. | Reduce -4.0% | 5.71% | −0.46 |
| NKE Nike Inc. Class B | Sold out | 0.00% | −0.35 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -5.2% | 7.06% | −0.34 |
| RTX RTX Corp. | Reduce -6.0% | 2.53% | −0.31 |
| PEP Pepsico Inc. | Reduce -5.0% | 1.22% | −0.31 |
| RHHBY Roche Holdings Ltd.-Spons ADR | Reduce -8.0% | 3.34% | −0.30 |
| GD General Dynamics Corp. | Reduce -7.1% | 3.50% | −0.29 |
| PG The Procter & Gamble Co. | Reduce -6.0% | 2.72% | −0.24 |
| GOOGL Alphabet Inc. Class A | Reduce -18.4% | 9.75% | −0.22 |
| HONA Honeywell Aerospace Inc. | Reduce -8.8% | 0.92% | −0.13 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -0.0% | 1.08% | −0.04 |
| CL Colgate-Palmolive Co. | Reduce -7.6% | 0.88% | −0.04 |
| ADBE Adobe Inc. | Sold out | 0.00% | −0.03 |
| SYY Sysco Corp. | Sold out | 0.00% | −0.03 |
| ZTS Zoetis Inc. | Reduce -0.8% | 0.03% | −0.02 |
| AAPL Apple Inc. | Reduce -10.3% | 1.59% | −0.02 |
| HD Home Depot Inc. | Reduce -4.4% | 1.64% | −0.02 |
| CSCO Cisco Systems Inc. | Reduce -56.4% | 0.03% | −0.02 |
| EPD Enterprise Products Partners | Sold out | 0.00% | −0.01 |
| DEO Diageo PLC-Sponsored ADR | Reduce -4.5% | 1.59% | −0.01 |
| UBFO United Security Bancshare | Sold out | 0.00% | −0.01 |
| AMGN Amgen Inc. | Reduce -5.4% | 0.04% | −0.00 |
| PAYX Paychex Inc. | Reduce -13.8% | 0.02% | −0.00 |
| IBM Intl Business Machines Corp. | Reduce -4.0% | 0.04% | +0.00 |
| GOOG Alphabet Inc. Class C | Reduce -2.9% | 0.05% | +0.01 |
| APH Amphenol Corp. Class A | Reduce -1.1% | 0.04% | +0.01 |
| CHRW C.H. Robinson Worldwide Inc. | Reduce -6.6% | 2.42% | +0.05 |
| SBUX Starbucks Corp. | Reduce -6.7% | 3.29% | +0.09 |
| V Visa Inc. Class A | Reduce -5.5% | 2.77% | +0.09 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -5.8% | 8.49% | +1.32 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -7.4% | 6.48% | +1.66 |
Portfolio Buys Q1 2026 → Q2 2026
| LLY Eli Lilly & Co. | Add +15.8% | 3.53% | +1.11 |
| NVDA Nvidia Corp. | Add +14.3% | 4.21% | +0.88 |
| ISRG Intuitive Surgical Inc. | New | 0.83% | +0.83 |
| EMR Emerson Electric Co. | New | 0.56% | +0.56 |
| UL Unilever PLC-Sponsored ADR | Add +6.0% | 6.53% | +0.48 |
| JQUA JPMorgan US Quality Factor | Add +466.3% | 0.08% | +0.06 |
| BCML Baycom Corp. | New | 0.06% | +0.06 |
| MO Altria Group Inc. | New | 0.01% | +0.01 |
| LOW Lowe's Cos Inc. | Add +0.8% | 0.02% | −0.00 |
| MDT Medtronic PLC | Add +2.4% | 5.15% | −0.63 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 46 | $1.8B | GOOGL, NVO, BRK.B, MSFT, UL |
| Q1 2026 | 46 | $1.8B | GOOGL, MSFT, BRK.B, NVO, DIS |
| Q4 2025 | 47 | $1.9B | GOOGL, MSFT, BRK.B, UL, DIS |
| Q3 2025 | 43 | $1.9B | GOOGL, MSFT, BRK.B, UL, DIS |
| Q2 2025 | 44 | $1.9B | MSFT, DIS, GOOGL, UL, BRK.B |
| Q1 2025 | 44 | $1.9B | BRK.B, UL, DIS, GOOGL, MSFT |
| Q4 2024 | 44 | $2.0B | GOOGL, DIS, MSFT, RTX, BRK.B |
| Q3 2024 | 41 | $2.3B | RTX, UL, MSFT, GOOGL, BRK.B |
| Q2 2024 | 42 | $2.2B | GOOGL, MSFT, RTX, UL, BRK.B |
| Q1 2024 | 45 | $2.2B | RTX, DIS, MSFT, GOOGL, BRK.B |