Scharf Investments, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 23, 2025), Scharf Investments, LLC reported 69 stock positions worth $3.3 billion. Its top holding was McKesson (MCK) at 7.7% of the portfolio, followed by Fiserv (FISV, 7.5%) and Berkshire Hathaway Class B (BRK.B, 7.1%). Compared with Q4 2024, it opened 5 new positions, sold out of 5, added to 9 and reduced 49. The biggest buy was SS SPDR BB 1-3M T-Bill ETF (BIL, shares +340%) and the biggest sale SS SPDR S&P 500 ETF Trust-US (SPY, shares −83%).
- Most Recent 13F
- Q2 2026
- Location
- LOS GATOS, CA
- CIK
- 0001463746
- Portfolio Value
- $3.3B (Q1 2025)
- SEC Filing
- 0001085146-25-002253 ↗ filed Apr 23, 2025
Holdings Value
Holdings 69 stocks · $3.3B
| MCK McKesson Corp. | 7.75% | 380,950 | $256.4M | Reduce -2.3% |
| FISV Fiserv Inc. | 7.49% | 1,122,658 | $247.9M | Reduce -9.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 7.07% | 438,916 | $233.8M | Reduce -2.3% |
| BN Brookfield Corp. | 5.58% | 3,524,927 | $184.7M | Reduce -14.3% |
| V Visa Inc. Class A | 5.26% | 496,592 | $174.0M | Reduce -2.6% |
| MKL Markel Group Inc. | 5.02% | 88,869 | $166.1M | Reduce -6.7% |
| MSFT Microsoft Corp. | 4.73% | 417,007 | $156.5M | Reduce -1.9% |
| APD Air Products & Chemicals Inc. | 4.55% | 510,510 | $150.6M | Reduce -1.5% |
| OXY Occidental Petroleum Corp. | 4.42% | 2,963,439 | $146.3M | Add +20.4% |
| CNC Centene Corp. | 4.40% | 2,395,448 | $145.4M | Add +20.3% |
| NVS Novartis AG-Sponsored ADR | 4.24% | 1,258,639 | $140.3M | Add +4.6% |
| UNP Union Pacific Corp. | 4.02% | 563,255 | $133.1M | Add +4.9% |
| ORCL Oracle Corp. | 3.56% | 841,797 | $117.7M | Reduce -7.8% |
| CME Cme Group Inc. | 3.55% | 442,178 | $117.3M | Reduce -1.9% |
| CMCSA Comcast Corp. Class A | 3.23% | 2,899,833 | $107.0M | Reduce -3.1% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 3.05% | 1,099,547 | $100.9M | Add +340.4% |
| AON Aon PLC Class A | 2.78% | 230,457 | $92.0M | Reduce -2.5% |
| LMT Lockheed Martin Corp. | 2.62% | 194,240 | $86.8M | Reduce -1.8% |
| BKNG Booking Holdings Inc. | 2.41% | 17,333 | $79.8M | Reduce -15.7% |
| DCI Donaldson Co. Inc. | 2.23% | 783,957 | $73.9M | Reduce -14.4% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 2.09% | 1,653,895 | $69.1M | Add +20.5% |
| SNN Smith & Nephew PLC -Spon ADR | 1.78% | 2,076,520 | $58.9M | Reduce -21.1% |
| UHAL.B U-Haul Holding Co.-Non Voting | 1.76% | 986,049 | $58.4M | Reduce -1.1% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 1.73% | 578,369 | $57.1M | Reduce -1.8% |
| UHAL U-Haul Holding Co. | 1.21% | 610,916 | $39.9M | Reduce -3.9% |
| GNTX Gentex Corp. | 0.73% | 1,041,148 | $24.3M | Reduce -43.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.48% | 28,660 | $16.0M | Reduce -82.9% |
| CVS CVS Health Corp. | 0.33% | 159,812 | $10.8M | Reduce -84.4% |
| WBA Walgreens Boots Alliance Inc. | 0.25% | 744,000 | $8.3M | New |
| NVDA Nvidia Corp. | 0.14% | 42,280 | $4.6M | Reduce -1.5% |
| POR Portland General Electric Co. | 0.13% | 98,506 | $4.4M | Add +8.9% |
| INTU Intuit Inc. | 0.10% | 5,507 | $3.4M | Reduce -1.1% |
| GOOG Alphabet Inc. Class C | 0.10% | 20,296 | $3.2M | Reduce -1.0% |
| SYK Stryker Corp. | 0.09% | 7,989 | $3.0M | Reduce -0.8% |
| AAPL Apple Inc. | 0.09% | 13,132 | $2.9M | Reduce -24.1% |
| CRM Salesforce Inc. | 0.08% | 10,233 | $2.7M | Reduce -1.2% |
| MA Mastercard Inc. Class A | 0.08% | 4,845 | $2.7M | Reduce -1.4% |
| ACN Accenture PLC Class A | 0.08% | 8,409 | $2.6M | Reduce -1.2% |
| SONY Sony Group Corp. - SP ADR | 0.08% | 103,275 | $2.6M | Reduce -1.1% |
| GWW WW Grainger Inc. filed as GRAINGER W W INC | 0.06% | 2,101 | $2.1M | Reduce -1.0% |
| ADP Automatic Data Processing | 0.06% | 6,711 | $2.1M | Reduce -0.8% |
| GOOGL Alphabet Inc. Class A | 0.06% | 12,629 | $2.0M | Reduce -1.8% |
| META Meta Platforms Inc. Class A | 0.06% | 3,382 | $1.9M | New |
| LLY Eli Lilly & Co. | 0.06% | 2,271 | $1.9M | Add +1.4% |
| ADBE Adobe Inc. | 0.05% | 4,593 | $1.8M | Add +1.9% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.05% | 2 | $1.6M | No change |
| VVV Valvoline Inc. | 0.04% | 34,276 | $1.2M | Reduce -20.1% |
| SCHW Schwab (charles) Corp. | 0.03% | 14,765 | $1.2M | No change |
| PGR Progressive Corp. | 0.03% | 3,314 | $938K | Reduce -4.6% |
| ETN Eaton Corp. PLC | 0.03% | 3,297 | $896K | Reduce -0.9% |
| MLKN Millerknoll Inc. | 0.02% | 33,939 | $650K | Reduce -96.0% |
| IWB iShares Russell 1000 ETF | 0.02% | 1,757 | $539K | Reduce -82.6% |
| DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE | 0.01% | 1,095 | $460K | No change |
| CARG Cargurus Inc. | 0.01% | 13,049 | $380K | Reduce -7.9% |
| MMI Marcus & Millichap Inc. | 0.01% | 8,777 | $302K | Reduce -7.9% |
| IMNM Immunome Inc. | 0.01% | 44,389 | $299K | No change |
| GLDM SPDR Gold Minishares Trust | 0.01% | 4,500 | $279K | New |
| EWBC East West Bancorp Inc. | 0.01% | 2,939 | $264K | Reduce -7.9% |
| FHN First Horizon Corp. | 0.01% | 12,708 | $247K | Reduce -7.9% |
| DGX Quest Diagnostics Inc. | 0.01% | 1,413 | $239K | No change |
| HQY Healthequity Inc. | 0.01% | 2,652 | $234K | Reduce -7.9% |
| SFM Sprouts Farmers Market Inc. | 0.01% | 1,426 | $218K | New |
| ALLY Ally Financial Inc. | 0.01% | 5,884 | $215K | Reduce -7.9% |
| AWI Armstrong World Industries | 0.01% | 1,489 | $210K | Reduce -7.9% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.01% | 800 | $206K | New |
| VOXX Voxx International Corp. | 0.01% | 26,809 | $201K | Reduce -7.0% |
| PDM Piedmont Realty Trust Inc. | 0.00% | 20,903 | $154K | Reduce -7.9% |
| BDN Brandywine Realty Trust | 0.00% | 27,521 | $123K | Reduce -7.3% |
| QUINCE THERAPEUTICS INC | 0.00% | 91,061 | $121K | No change |
Portfolio Sells Q4 2024 → Q1 2025
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -82.9% | 0.48% | −2.43 |
| CVS CVS Health Corp. | Reduce -84.4% | 0.33% | −1.44 |
| BN Brookfield Corp. | Reduce -14.3% | 5.58% | −1.43 |
| ORCL Oracle Corp. | Reduce -7.8% | 3.56% | −0.95 |
| GNTX Gentex Corp. | Reduce -43.1% | 0.73% | −0.83 |
| BKNG Booking Holdings Inc. | Reduce -15.7% | 2.41% | −0.62 |
| MSFT Microsoft Corp. | Reduce -1.9% | 4.73% | −0.58 |
| MLKN Millerknoll Inc. | Reduce -96.0% | 0.02% | −0.55 |
| LMT Lockheed Martin Corp. | Reduce -1.8% | 2.62% | −0.23 |
| DIS The Walt Disney Co. | Reduce -1.8% | 1.73% | −0.22 |
| SNN Smith & Nephew PLC -Spon ADR | Reduce -21.1% | 1.78% | −0.14 |
| UHAL.B U-Haul Holding Co.-Non Voting | Reduce -1.1% | 1.76% | −0.13 |
| CMCSA Comcast Corp. Class A | Reduce -3.1% | 3.23% | −0.10 |
| UHAL U-Haul Holding Co. | Reduce -3.9% | 1.21% | −0.09 |
| FISV Fiserv Inc. | Reduce -9.8% | 7.49% | −0.09 |
| IWB iShares Russell 1000 ETF | Reduce -82.6% | 0.02% | −0.08 |
| AAPL Apple Inc. | Reduce -24.1% | 0.09% | −0.04 |
| NVDA Nvidia Corp. | Reduce -1.5% | 0.14% | −0.03 |
| GOOG Alphabet Inc. Class C | Reduce -1.0% | 0.10% | −0.02 |
| CRM Salesforce Inc. | Reduce -1.2% | 0.08% | −0.02 |
| CP Canadian Pacific Kansas City | Sold out | 0.00% | −0.02 |
| O Realty Income Corp. | Sold out | 0.00% | −0.01 |
| GOOGL Alphabet Inc. Class A | Reduce -1.8% | 0.06% | −0.01 |
| VVV Valvoline Inc. | Reduce -20.1% | 0.04% | −0.01 |
| ACN Accenture PLC Class A | Reduce -1.2% | 0.08% | −0.01 |
| KRC Kilroy Realty Corp. | Sold out | 0.00% | −0.01 |
| WHD Cactus Inc. Class A | Sold out | 0.00% | −0.01 |
| NATL NCR Atleos Corp. | Sold out | 0.00% | −0.01 |
| ETN Eaton Corp. PLC | Reduce -0.9% | 0.03% | −0.01 |
| CARG Cargurus Inc. | Reduce -7.9% | 0.01% | −0.00 |
| GWW WW Grainger Inc. | Reduce -1.0% | 0.06% | −0.00 |
| MMI Marcus & Millichap Inc. | Reduce -7.9% | 0.01% | −0.00 |
| INTU Intuit Inc. | Reduce -1.1% | 0.10% | −0.00 |
| PDM Piedmont Realty Trust Inc. | Reduce -7.9% | 0.00% | −0.00 |
| BDN Brandywine Realty Trust | Reduce -7.3% | 0.00% | −0.00 |
| EWBC East West Bancorp Inc. | Reduce -7.9% | 0.01% | −0.00 |
| HQY Healthequity Inc. | Reduce -7.9% | 0.01% | −0.00 |
| FHN First Horizon Corp. | Reduce -7.9% | 0.01% | −0.00 |
| AWI Armstrong World Industries | Reduce -7.9% | 0.01% | −0.00 |
| ALLY Ally Financial Inc. | Reduce -7.9% | 0.01% | −0.00 |
| VOXX Voxx International Corp. | Reduce -7.0% | 0.01% | −0.00 |
| ADP Automatic Data Processing | Reduce -0.8% | 0.06% | +0.00 |
| MA Mastercard Inc. Class A | Reduce -1.4% | 0.08% | +0.00 |
| PGR Progressive Corp. | Reduce -4.6% | 0.03% | +0.00 |
| SYK Stryker Corp. | Reduce -0.8% | 0.09% | +0.00 |
| SONY Sony Group Corp. - SP ADR | Reduce -1.1% | 0.08% | +0.01 |
| APD Air Products & Chemicals Inc. | Reduce -1.5% | 4.55% | +0.10 |
| MKL Markel Group Inc. | Reduce -6.7% | 5.02% | +0.15 |
| AON Aon PLC Class A | Reduce -2.5% | 2.78% | +0.26 |
| DCI Donaldson Co. Inc. | Reduce -14.4% | 2.23% | +0.40 |
Portfolio Buys Q4 2024 → Q1 2025
| BIL SS SPDR BB 1-3M T-Bill ETF | Add +340.4% | 3.05% | +2.37 |
| CNC Centene Corp. | Add +20.3% | 4.40% | +0.82 |
| OXY Occidental Petroleum Corp. | Add +20.4% | 4.42% | +0.82 |
| NVS Novartis AG-Sponsored ADR | Add +4.6% | 4.24% | +0.77 |
| SLB SLB Ltd. | Add +20.5% | 2.09% | +0.53 |
| UNP Union Pacific Corp. | Add +4.9% | 4.02% | +0.39 |
| WBA Walgreens Boots Alliance Inc. | New | 0.25% | +0.25 |
| META Meta Platforms Inc. Class A | New | 0.06% | +0.06 |
| POR Portland General Electric Co. | Add +8.9% | 0.13% | +0.02 |
| GLDM SPDR Gold Minishares Trust | New | 0.01% | +0.01 |
| SFM Sprouts Farmers Market Inc. | New | 0.01% | +0.01 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | New | 0.01% | +0.01 |
| LLY Eli Lilly & Co. | Add +1.4% | 0.06% | +0.01 |
| ADBE Adobe Inc. | Add +1.9% | 0.05% | −0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 79 | $3.0B | KAT, OXY, UNP, GKAT, MKL |
| Q1 2026 | 70 | $3.2B | KAT, OXY, MCK, UNP, FNV |
| Q4 2025 | 72 | $3.7B | KAT, MCK, MSFT, BN, BRK.B |
| Q3 2025 | 69 | $4.0B | KAT, MCK, MSFT, ORCL, BN |
| Q2 2025 | 66 | $3.5B | MCK, MSFT, BRK.B, FISV, ORCL |
| Q1 2025 | 69 | $3.3B | MCK, FISV, BRK.B, BN, V |
| Q4 2024 | 69 | $3.4B | FISV, BN, MCK, BRK.B, MSFT |
| Q3 2024 | 68 | $3.6B | FISV, BN, BRK.B, MCK, CMCSA |
| Q2 2024 | 58 | $3.5B | MCK, MSFT, FISV, BRK.B, BN |
| Q1 2024 | 61 | $3.7B | MCK, BRK.B, FISV, CMCSA, MSFT |