Saratoga Research & Investment Management
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 22, 2024), Saratoga Research & Investment Management reported 41 stock positions worth $2.3 billion. Its top holding was RTX (RTX) at 7.7% of the portfolio, followed by Unilever (UL, 7.4%) and Microsoft (MSFT, 6.8%). Compared with Q2 2024, it opened 1 new position, sold out of 2, added to 3 and reduced 29. The biggest buy was a new position in SS SPDR BB 1-3M T-Bill ETF (BIL) and the biggest sale an exit from 3M (MMM).
- Most Recent 13F
- Q2 2026
- Location
- SARATOGA, CA
- CIK
- 0001477872
- Portfolio Value
- $2.3B (Q3 2024)
- SEC Filing
- 0001477872-24-000005 ↗ filed Nov 22, 2024
Holdings Value
Holdings 41 stocks · $2.3B
| RTX RTX Corp. | 7.74% | 1,459,106 | $176.8M | Reduce -4.5% |
| UL Unilever PLC | 7.42% | 2,607,574 | $169.4M | Reduce -5.8% |
| MSFT Microsoft Corp. | 6.77% | 359,519 | $154.7M | Add +1.3% |
| GOOGL Alphabet Inc. Class A | 6.77% | 932,640 | $154.7M | Reduce -3.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 6.58% | 326,548 | $150.3M | Reduce -4.0% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 6.47% | 1,536,008 | $147.7M | Add +18.8% |
| ORCL Oracle Corp. | 5.97% | 800,179 | $136.4M | Reduce -5.0% |
| MDT Medtronic PLC | 5.35% | 1,356,045 | $122.1M | Reduce -2.5% |
| RHHBY Roche Holdings Ltd.-Spons ADR | 4.07% | 2,325,810 | $92.9M | Reduce -3.5% |
| JNJ Johnson & Johnson | 3.78% | 532,439 | $86.3M | Reduce -3.5% |
| NVO Novo-Nordisk A/S-Spons ADR | 3.69% | 708,519 | $84.4M | Reduce -5.4% |
| AAPL Apple Inc. | 3.39% | 332,200 | $77.4M | Reduce -5.7% |
| GD General Dynamics Corp. | 3.19% | 241,290 | $72.9M | Reduce -4.3% |
| NKE Nike Inc. Class B | 2.75% | 709,189 | $62.7M | Reduce -4.9% |
| HD Home Depot Inc. | 2.64% | 148,551 | $60.2M | Reduce -5.6% |
| ACN Accenture PLC Class A | 2.54% | 163,861 | $57.9M | Reduce -3.8% |
| CHRW C.H. Robinson Worldwide Inc. | 2.50% | 516,906 | $57.1M | Reduce -5.1% |
| SBUX Starbucks Corp. | 2.34% | 548,722 | $53.5M | Reduce -2.9% |
| DEO Diageo PLC-Sponsored ADR | 2.26% | 366,966 | $51.5M | Reduce -3.6% |
| V Visa Inc. Class A | 2.22% | 184,522 | $50.7M | Reduce -4.9% |
| WMT Walmart Inc. | 1.73% | 489,343 | $39.5M | Reduce -34.8% |
| ADBE Adobe Inc. | 1.71% | 75,493 | $39.1M | Reduce -4.8% |
| PEP Pepsico Inc. | 1.31% | 175,383 | $29.8M | Reduce -3.3% |
| PG The Procter & Gamble Co. | 1.29% | 170,571 | $29.5M | Reduce -3.4% |
| BIIB Biogen Inc. | 1.28% | 150,720 | $29.2M | Reduce -4.5% |
| CSCO Cisco Systems Inc. | 1.17% | 504,119 | $26.8M | Reduce -3.5% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.97% | 242,150 | $22.2M | New |
| BDX Becton Dickinson and Co. | 0.85% | 80,344 | $19.4M | Reduce -4.2% |
| CL Colgate-Palmolive Co. | 0.61% | 134,944 | $14.0M | Reduce -7.2% |
| KO The Coca-Cola Co. | 0.30% | 94,392 | $6.8M | Reduce -4.4% |
| GOOG Alphabet Inc. Class C | 0.09% | 12,807 | $2.1M | Reduce -0.9% |
| ASML ASML Holding NV-NY Reg SHS | 0.04% | 1,078 | $898K | Add +0.1% |
| AMGN Amgen Inc. | 0.04% | 2,526 | $814K | No change |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.03% | 2,968 | $656K | No change |
| PAYX Paychex Inc. | 0.03% | 4,712 | $632K | No change |
| CTSH Cognizant Tech Solutions-A | 0.03% | 7,591 | $586K | No change |
| SYY Sysco Corp. | 0.03% | 7,492 | $585K | No change |
| LMT Lockheed Martin Corp. | 0.02% | 815 | $476K | No change |
| AMZN Amazon.com Inc. | 0.02% | 2,000 | $373K | No change |
| TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC | 0.01% | 2,506 | $273K | Reduce -51.8% |
| UBFO United Security Bancshare | 0.00% | 11,000 | $96K | No change |
Portfolio Sells Q2 2024 → Q3 2024
| MMM 3M Co. | Sold out | 0.00% | −1.33 |
| GOOGL Alphabet Inc. Class A | Reduce -3.3% | 6.77% | −1.22 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -5.4% | 3.69% | −1.16 |
| WMT Walmart Inc. | Reduce -34.8% | 1.73% | −0.58 |
| BIIB Biogen Inc. | Reduce -4.5% | 1.28% | −0.38 |
| ADBE Adobe Inc. | Reduce -4.8% | 1.71% | −0.29 |
| GD General Dynamics Corp. | Reduce -4.3% | 3.19% | −0.13 |
| V Visa Inc. Class A | Reduce -4.9% | 2.22% | −0.09 |
| PEP Pepsico Inc. | Reduce -3.3% | 1.31% | −0.05 |
| BDX Becton Dickinson and Co. | Reduce -4.2% | 0.85% | −0.04 |
| PG The Procter & Gamble Co. | Reduce -3.4% | 1.29% | −0.03 |
| CL Colgate-Palmolive Co. | Reduce -7.2% | 0.61% | −0.03 |
| JQUA JPMorgan US Quality Factor | Sold out | 0.00% | −0.03 |
| TROW T Rowe Price Group Inc. | Reduce -51.8% | 0.01% | −0.02 |
| GOOG Alphabet Inc. Class C | Reduce -0.9% | 0.09% | −0.01 |
| KO The Coca-Cola Co. | Reduce -4.4% | 0.30% | +0.01 |
| AAPL Apple Inc. | Reduce -5.7% | 3.39% | +0.02 |
| CSCO Cisco Systems Inc. | Reduce -3.5% | 1.17% | +0.05 |
| DEO Diageo PLC-Sponsored ADR | Reduce -3.6% | 2.26% | +0.07 |
| JNJ Johnson & Johnson | Reduce -3.5% | 3.78% | +0.11 |
| HD Home Depot Inc. | Reduce -5.6% | 2.64% | +0.17 |
| ACN Accenture PLC Class A | Reduce -3.8% | 2.54% | +0.19 |
| NKE Nike Inc. Class B | Reduce -4.9% | 2.75% | +0.19 |
| RHHBY Roche Holdings Ltd.-Spons ADR | Reduce -3.5% | 4.07% | +0.27 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -4.0% | 6.58% | +0.29 |
| CHRW C.H. Robinson Worldwide Inc. | Reduce -5.1% | 2.50% | +0.32 |
| SBUX Starbucks Corp. | Reduce -2.9% | 2.34% | +0.34 |
| MDT Medtronic PLC | Reduce -2.5% | 5.35% | +0.37 |
| UL Unilever PLC | Reduce -5.8% | 7.42% | +0.50 |
| ORCL Oracle Corp. | Reduce -5.0% | 5.97% | +0.56 |
| RTX RTX Corp. | Reduce -4.5% | 7.74% | +0.77 |
Portfolio Buys Q2 2024 → Q3 2024
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 |