Scharf Investments, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 15, 2026), Scharf Investments, LLC reported 72 stock positions worth $3.7 billion. Its top holding was Scharf ETF (KAT) at 6.9% of the portfolio, followed by McKesson (MCK, 5.9%) and Microsoft (MSFT, 4.9%). Compared with Q3 2025, it opened 9 new positions, sold out of 6, added to 14 and reduced 43. The biggest buy was Meta Platforms Class A (META, shares +4087%) and the biggest sale Fiserv (FISV, shares −99%).
- Most Recent 13F
- Q2 2026
- Location
- LOS GATOS, CA
- CIK
- 0001463746
- Portfolio Value
- $3.7B (Q4 2025)
- SEC Filing
- 0001463746-26-000001 ↗ filed Jan 15, 2026
Holdings Value
Holdings 72 stocks · $3.7B
| KAT Scharf ETF | 6.95% | 4,701,050 | $258.6M | Reduce -7.8% |
| MCK McKesson Corp. | 5.86% | 265,731 | $218.0M | Reduce -18.2% |
| MSFT Microsoft Corp. | 4.91% | 378,096 | $182.9M | Reduce -11.4% |
| BN Brookfield Corp. | 4.33% | 3,515,805 | $161.4M | Reduce -10.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 4.17% | 308,528 | $155.1M | Reduce -12.6% |
| UNP Union Pacific Corp. | 4.08% | 655,996 | $151.7M | Reduce -1.8% |
| MKL Markel Group Inc. | 4.00% | 69,203 | $148.8M | Reduce -8.2% |
| FNV Franco-Nevada Corp. | 3.85% | 692,209 | $143.5M | Add +15.8% |
| V Visa Inc. Class A | 3.80% | 403,573 | $141.5M | Reduce -9.1% |
| BKNG Booking Holdings Inc. | 3.72% | 25,849 | $138.5M | Add +76.0% |
| NVS Novartis AG-Sponsored ADR | 3.57% | 962,900 | $132.8M | Reduce -20.5% |
| OXY Occidental Petroleum Corp. | 3.25% | 2,939,724 | $120.9M | Reduce -14.5% |
| GKAT Scharf Global Opportunityetf | 2.92% | 2,659,431 | $108.9M | Add +6.9% |
| CME Cme Group Inc. | 2.87% | 391,015 | $106.8M | Reduce -7.4% |
| ZTS Zoetis Inc. | 2.77% | 818,875 | $103.0M | Add +65.7% |
| META Meta Platforms Inc. Class A | 2.71% | 152,940 | $101.0M | Add +4086.7% |
| OTIS Otis Worldwide Corp. | 2.69% | 1,145,040 | $100.0M | Add +43.0% |
| ORCL Oracle Corp. | 2.68% | 511,594 | $99.7M | Reduce -20.6% |
| CB Chubb Ltd. | 2.63% | 313,636 | $97.9M | Add +4.7% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 2.45% | 802,514 | $91.3M | Reduce -4.9% |
| HSY The Hershey Co. | 2.42% | 495,776 | $90.2M | Reduce -7.2% |
| CNC Centene Corp. | 2.35% | 2,123,245 | $87.4M | Add +0.9% |
| TMO Thermo Fisher Scientific Inc. | 2.18% | 140,004 | $81.1M | Reduce -6.9% |
| ADBE Adobe Inc. | 2.10% | 222,911 | $78.0M | Reduce -3.5% |
| LMT Lockheed Martin Corp. | 2.02% | 155,178 | $75.1M | Reduce -14.7% |
| AON Aon PLC Class A | 1.97% | 208,111 | $73.4M | Reduce -5.4% |
| A Agilent Technologies Inc. | 1.94% | 531,223 | $72.3M | Reduce -6.4% |
| MRSH Marsh & McLennan Cos | 1.78% | 357,764 | $66.4M | New |
| UNH Unitedhealth Group Inc. | 1.59% | 178,972 | $59.1M | Add +399.2% |
| SNN Smith & Nephew PLC -Spon ADR | 1.49% | 1,692,649 | $55.5M | Reduce -16.6% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.29% | 70,284 | $47.9M | Add +194.4% |
| UHAL.B U-Haul Holding Co.-Non Voting | 1.03% | 821,963 | $38.4M | Reduce -8.9% |
| DCI Donaldson Co. Inc. | 0.65% | 273,570 | $24.3M | Reduce -64.6% |
| UHAL U-Haul Holding Co. | 0.58% | 431,250 | $21.7M | Reduce -21.3% |
| HLN Haleon PLC-ADR | 0.30% | 1,095,734 | $11.1M | Add +17.4% |
| CNI Canadian Natl Railway Co. | 0.22% | 83,790 | $8.3M | New |
| CVS CVS Health Corp. | 0.22% | 103,497 | $8.2M | Add +2.1% |
| NVDA Nvidia Corp. | 0.17% | 33,885 | $6.3M | Reduce -10.3% |
| CP Canadian Pacific Kansas City | 0.11% | 58,104 | $4.3M | New |
| GOOG Alphabet Inc. Class C | 0.11% | 13,447 | $4.2M | Reduce -37.5% |
| GOOGL Alphabet Inc. Class A | 0.10% | 12,035 | $3.8M | Reduce -11.0% |
| INTU Intuit Inc. | 0.09% | 5,132 | $3.4M | Reduce -13.1% |
| AAPL Apple Inc. | 0.09% | 12,237 | $3.3M | Reduce -8.8% |
| IWB iShares Russell 1000 ETF | 0.08% | 8,313 | $3.1M | New |
| SYK Stryker Corp. | 0.07% | 7,801 | $2.7M | Reduce -9.5% |
| MA Mastercard Inc. Class A | 0.07% | 4,727 | $2.7M | Reduce -9.4% |
| CMCSA Comcast Corp. Class A | 0.07% | 85,847 | $2.6M | Reduce -96.5% |
| AVGO Broadcom Inc. | 0.06% | 6,766 | $2.3M | Add +70.1% |
| LLY Eli Lilly & Co. | 0.06% | 2,063 | $2.2M | Reduce -15.6% |
| CRM Salesforce Inc. | 0.06% | 8,040 | $2.1M | Reduce -25.8% |
| VWO Vanguard Ftse Emerging Marke | 0.06% | 38,131 | $2.0M | No change |
| GWW WW Grainger Inc. | 0.05% | 1,931 | $1.9M | Reduce -14.2% |
| ADP Automatic Data Processing | 0.04% | 6,248 | $1.6M | Reduce -12.8% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.04% | 2 | $1.5M | No change |
| APD Air Products & Chemicals Inc. | 0.03% | 4,569 | $1.1M | Reduce -22.7% |
| ETN Eaton Corp. PLC | 0.03% | 3,156 | $1.0M | Reduce -11.0% |
| IMNM Immunome Inc. | 0.03% | 44,389 | $953K | No change |
| APH Amphenol Corp. Class A | 0.03% | 7,034 | $951K | New |
| FISV Fiserv Inc. | 0.03% | 14,044 | $943K | Reduce -98.8% |
| RSP Invesco S&P 500 Equal Weight | 0.02% | 4,342 | $832K | New |
| VOO Vanguard S&P 500 ETF | 0.02% | 1,322 | $829K | New |
| UBER Uber Technologies Inc. | 0.02% | 9,685 | $791K | Reduce -25.7% |
| SLB SLB Ltd. filed as SLB LIMITED | 0.02% | 20,295 | $779K | Reduce -5.1% |
| IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA | 0.02% | 10,669 | $719K | Reduce -97.9% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.01% | 1,768 | $557K | New |
| SHY iShares 1-3 Year Treasury Bo | 0.01% | 6,063 | $502K | Add +11.8% |
| CARG Cargurus Inc. | 0.01% | 11,868 | $455K | No change |
| SEMG Suncoast Select Growth ETF | 0.01% | 14,770 | $405K | New |
| QUINCE THERAPEUTICS INC | 0.01% | 91,061 | $305K | No change |
| MLKN Millerknoll Inc. | 0.01% | 12,848 | $235K | Reduce -32.1% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.01% | 2,196 | $201K | Reduce -96.0% |
| PDM Piedmont Realty Trust Inc. | 0.00% | 14,812 | $124K | No change |
Portfolio Sells Q3 2025 → Q4 2025
| FISV Fiserv Inc. | Reduce -98.8% | 0.03% | −3.64 |
| CMCSA Comcast Corp. Class A | Reduce -96.5% | 0.07% | −1.89 |
| ORCL Oracle Corp. | Reduce -20.6% | 2.68% | −1.88 |
| DCI Donaldson Co. Inc. | Reduce -64.6% | 0.65% | −0.94 |
| OXY Occidental Petroleum Corp. | Reduce -14.5% | 3.25% | −0.84 |
| IFF Intl Flavors & Fragrances | Reduce -97.9% | 0.02% | −0.75 |
| MSFT Microsoft Corp. | Reduce -11.4% | 4.91% | −0.64 |
| MCK McKesson Corp. | Reduce -18.2% | 5.86% | −0.45 |
| SNN Smith & Nephew PLC -Spon ADR | Reduce -16.6% | 1.49% | −0.36 |
| NVS Novartis AG-Sponsored ADR | Reduce -20.5% | 3.57% | −0.34 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -12.6% | 4.17% | −0.29 |
| LMT Lockheed Martin Corp. | Reduce -14.7% | 2.02% | −0.27 |
| KAT Scharf ETF | Reduce -7.8% | 6.95% | −0.27 |
| UHAL U-Haul Holding Co. | Reduce -21.3% | 0.58% | −0.20 |
| BN Brookfield Corp. | Reduce -10.9% | 4.33% | −0.20 |
| AZN Astrazeneca PLC-Spons ADR | Sold out | 0.00% | −0.18 |
| SONY Sony Group Corp. - SP ADR | Sold out | 0.00% | −0.13 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -96.0% | 0.01% | −0.12 |
| UHAL.B U-Haul Holding Co.-Non Voting | Reduce -8.9% | 1.03% | −0.12 |
| HSY The Hershey Co. | Reduce -7.2% | 2.42% | −0.09 |
| BMA Banco Macro SA-ADR | Sold out | 0.00% | −0.02 |
| GGAL Grupo Financiero Galicia-ADR | Sold out | 0.00% | −0.02 |
| GOOG Alphabet Inc. Class C | Reduce -37.5% | 0.11% | −0.02 |
| DIA SS SPDR Dow Jones Indus Avg | Sold out | 0.00% | −0.01 |
| UBER Uber Technologies Inc. | Reduce -25.7% | 0.02% | −0.01 |
| APD Air Products & Chemicals Inc. | Reduce -22.7% | 0.03% | −0.01 |
| INTU Intuit Inc. | Reduce -13.1% | 0.09% | −0.01 |
| ADP Automatic Data Processing | Reduce -12.8% | 0.04% | −0.01 |
| NVDA Nvidia Corp. | Reduce -10.3% | 0.17% | −0.01 |
| CRM Salesforce Inc. | Reduce -25.8% | 0.06% | −0.01 |
| V Visa Inc. Class A | Reduce -9.1% | 3.80% | −0.01 |
| SYK Stryker Corp. | Reduce -9.5% | 0.07% | −0.01 |
| ETN Eaton Corp. PLC | Reduce -11.0% | 0.03% | −0.01 |
| KRC Kilroy Realty Corp. | Sold out | 0.00% | −0.01 |
| MA Mastercard Inc. Class A | Reduce -9.4% | 0.07% | −0.00 |
| MLKN Millerknoll Inc. | Reduce -32.1% | 0.01% | −0.00 |
| GWW WW Grainger Inc. | Reduce -14.2% | 0.05% | −0.00 |
| AON Aon PLC Class A | Reduce -5.4% | 1.97% | 0.00 |
| CME Cme Group Inc. | Reduce -7.4% | 2.87% | +0.00 |
| SLB SLB Ltd. | Reduce -5.1% | 0.02% | +0.00 |
| AAPL Apple Inc. | Reduce -8.8% | 0.09% | +0.00 |
| LLY Eli Lilly & Co. | Reduce -15.6% | 0.06% | +0.01 |
| GOOGL Alphabet Inc. Class A | Reduce -11.0% | 0.10% | +0.02 |
| DIS The Walt Disney Co. | Reduce -4.9% | 2.45% | +0.02 |
| ADBE Adobe Inc. | Reduce -3.5% | 2.10% | +0.05 |
| UNP Union Pacific Corp. | Reduce -1.8% | 4.08% | +0.11 |
| A Agilent Technologies Inc. | Reduce -6.4% | 1.94% | +0.11 |
| TMO Thermo Fisher Scientific Inc. | Reduce -6.9% | 2.18% | +0.35 |
| MKL Markel Group Inc. | Reduce -8.2% | 4.00% | +0.38 |
Portfolio Buys Q3 2025 → Q4 2025
| META Meta Platforms Inc. Class A | Add +4086.7% | 2.71% | +2.64 |
| MRSH Marsh & McLennan Cos | New | 1.78% | +1.78 |
| BKNG Booking Holdings Inc. | Add +76.0% | 3.72% | +1.73 |
| UNH Unitedhealth Group Inc. | Add +399.2% | 1.59% | +1.28 |
| ZTS Zoetis Inc. | Add +65.7% | 2.77% | +0.95 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +194.4% | 1.29% | +0.89 |
| OTIS Otis Worldwide Corp. | Add +43.0% | 2.69% | +0.85 |
| FNV Franco-Nevada Corp. | Add +15.8% | 3.85% | +0.50 |
| CB Chubb Ltd. | Add +4.7% | 2.63% | +0.50 |
| CNC Centene Corp. | Add +0.9% | 2.35% | +0.46 |
| GKAT Scharf Global Opportunityetf | Add +6.9% | 2.92% | +0.43 |
| CNI Canadian Natl Railway Co. | New | 0.22% | +0.22 |
| CP Canadian Pacific Kansas City | New | 0.11% | +0.11 |
| HLN Haleon PLC-ADR | Add +17.4% | 0.30% | +0.09 |
| IWB iShares Russell 1000 ETF | New | 0.08% | +0.08 |
| AVGO Broadcom Inc. | Add +70.1% | 0.06% | +0.03 |
| CVS CVS Health Corp. | Add +2.1% | 0.22% | +0.03 |
| APH Amphenol Corp. Class A | New | 0.03% | +0.03 |
| RSP Invesco S&P 500 Equal Weight | New | 0.02% | +0.02 |
| VOO Vanguard S&P 500 ETF | New | 0.02% | +0.02 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | New | 0.01% | +0.01 |
| SEMG Suncoast Select Growth ETF | New | 0.01% | +0.01 |
| SHY iShares 1-3 Year Treasury Bo | Add +11.8% | 0.01% | +0.00 |
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 |