Schwartz Investment Counsel Inc.

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 24, 2025), Schwartz Investment Counsel Inc. reported 126 stock positions worth $2.9 billion. Its top holding was Texas Pacific Land (TPL) at 6.9% of the portfolio, followed by Mastercard Class A (MA, 4.6%) and Heico Class A (HEI.A, 3.3%). Compared with Q4 2024, it opened 2 new positions, sold out of 4, added to 32 and reduced 15. The biggest buy was Texas Pacific Land (TPL, shares +0%) and the biggest sale Jack Henry & Associates (JKHY, shares −88%).

Most Recent 13F
Q2 2026
Location
PLYMOUTH, MI
CIK
0000909151
Portfolio Value
$2.9B (Q1 2025)
SEC Filing
0001398344-25-007625 ↗ filed Apr 24, 2025

Holdings Value

0$1.0B$2.0B$3.0B$4.0B Q1 2024: $2.7B Q1 2024 Q2 2024: $2.7B Q2 2024 Q3 2024: $2.8B Q3 2024 Q4 2024: $2.8B Q4 2024 Q1 2025: $2.9B $2.9B Q1 2025 Q2 2025: $3.0B Q2 2025 Q3 2025: $3.0B Q3 2025 Q4 2025: $2.9B Q4 2025 Q1 2026: $2.8B Q1 2026 Q2 2026: $3.0B Q2 2026

Holdings 126 stocks · $2.9B
TPL Texas Pacific Land Corp. 6.87% 150,823 $199.8M Add +0.4%
MA Mastercard Inc. Class A 4.57% 242,574 $133.0M No change
HEI.A Heico Corp. Class A 3.30% 455,710 $96.1M No change
ROP Roper Technologies Inc. 3.07% 151,700 $89.4M Add +10.2%
TXN Texas Instruments Inc. 3.02% 488,790 $87.8M Reduce -1.1%
SPGI S&P Global Inc. 2.84% 162,550 $82.6M No change
ACN Accenture PLC Class A 2.67% 249,450 $77.8M Reduce -0.6%
CHE Chemed Corp. 2.66% 125,620 $77.3M Add +5.4%
APG Api Group Corp. 2.56% 2,083,209 $74.5M No change
ORLY O'reilly Automotive Inc. 2.51% 51,000 $73.1M No change
NVDA Nvidia Corp. 2.31% 620,000 $67.2M No change
CPRT Copart Inc. 2.26% 1,162,500 $65.8M No change
BRO Brown & Brown Inc. 2.22% 519,150 $64.6M No change
LOW Lowe's Cos Inc. 2.15% 268,650 $62.7M No change
SBAC SBA Communications Corp. 2.07% 274,000 $60.3M No change
BR Broadridge Financial Solutio 2.06% 247,350 $60.0M No change
CB Chubb Ltd. 1.92% 185,050 $55.9M No change
MCO Moody's Corp. 1.89% 118,200 $55.0M No change
TSM Taiwan Semiconductor-SP ADR 1.76% 309,250 $51.3M Add +11.9%
CCEP Coca-Cola Europacific Partne 1.66% 556,300 $48.4M No change
GPC Genuine Parts Co. 1.65% 403,000 $48.0M Add +17.7%
ANSS Ansys Inc. 1.64% 150,882 $47.8M Reduce -0.1%
FANG Diamondback Energy Inc. 1.59% 290,300 $46.4M No change
FNF Fidelity National Financial 1.49% 665,000 $43.3M No change
FAST Fastenal Co. 1.48% 557,000 $43.2M No change
CVX Chevron Corp. 1.45% 252,267 $42.2M No change
EXE Expand Energy Corp. 1.42% 370,420 $41.2M Reduce -3.2%
ATR Aptargroup Inc. 1.38% 270,000 $40.1M No change
IQV Iqvia Holdings Inc. 1.29% 213,290 $37.6M No change
AOS Smith (a.o.) Corp. 1.27% 564,933 $36.9M Add +50.7%
LB Landbridge Co. LLC-A 1.26% 511,268 $36.8M Add +19.9%
CDW CDW Corp. 1.26% 229,000 $36.7M Add +41.4%
LMT Lockheed Martin Corp. 1.26% 82,000 $36.6M No change
TFC Truist Financial Corp. 1.19% 838,695 $34.5M No change
WSO Watsco Inc. 1.15% 66,000 $33.5M Add +8.2%
TJX TJX Companies Inc. filed as TJX COS INC NEW 1.10% 263,250 $32.1M No change
CSL Carlisle Cos Inc. 1.05% 90,000 $30.6M No change
BL Blackline Inc. 0.98% 590,000 $28.6M Add +22.9%
LHX L3HARRIS Technologies Inc. 0.94% 130,975 $27.4M Add +12.4%
HAE Haemonetics Corp. 0.82% 374,500 $23.8M Add +148.0%
XPEL Xpel Inc. 0.78% 774,339 $22.8M Add +44.2%
TSCO Tractor Supply Company 0.75% 397,500 $21.9M No change
SLAB Silicon Laboratories Inc. 0.75% 192,790 $21.7M Reduce -16.2%
BATRK Atlanta Braves Holdings in-C 0.75% 542,264 $21.7M No change
WPM Wheaton Precious Metals Corp. 0.71% 268,000 $20.8M Add +15.0%
RMBS Rambus Inc. 0.68% 380,337 $19.7M New
FNV Franco-Nevada Corp. 0.67% 124,200 $19.6M Add +4.2%
HIFS Hingham Institution for SVGS 0.66% 81,087 $19.3M No change
BKNG Booking Holdings Inc. 0.63% 4,000 $18.4M No change
BN Brookfield Corp. 0.62% 344,720 $18.1M Add +2.5%
DGX Quest Diagnostics Inc. 0.56% 95,900 $16.2M No change
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.55% 384,800 $16.1M Add +15.3%
OXY Occidental Petroleum Corp. 0.54% 319,430 $15.8M Add +15.1%
JOE The St Joe Co. 0.53% 330,400 $15.5M Add +23.1%
SNX TD Synnex Corp. 0.51% 142,500 $14.8M Add +39.0%
PBT Permian Basin Royalty Trust 0.50% 1,486,902 $14.7M Add +7.2%
ICE Intercontinental Exchange Inc. 0.50% 85,000 $14.7M No change
WU Western Union Co. 0.50% 1,375,000 $14.5M New
MIR Mirion Technologies Inc. 0.48% 954,300 $13.8M Reduce -29.3%
ALC Alcon Inc. filed as ALCON AG 0.45% 137,483 $13.1M No change
XOM Exxon Mobil Corp. 0.44% 106,548 $12.7M Reduce -1.8%
SMPL The Simply Good Foods Co. 0.42% 358,370 $12.4M Add +18.3%
YETI Yeti Holdings Inc. filed as YETI HLDGS INC 0.40% 351,950 $11.6M Add +9.9%
BAM Brookfield Asset Mgmt-A 0.40% 237,275 $11.5M No change
AWI Armstrong World Industries 0.38% 78,000 $11.0M No change
VRSN Verisign Inc. 0.35% 40,500 $10.3M Add +34.1%
GFL GFL Environmental Inc.-Sub VT 0.35% 210,722 $10.2M No change
ALLE Allegion PLC 0.34% 76,000 $9.9M No change
SIMO Silicon Motion Technol-ADR 0.33% 190,000 $9.6M No change
OTIS Otis Worldwide Corp. 0.30% 85,000 $8.8M No change
WINA Winmark Corp. 0.29% 26,600 $8.5M No change
SN Sharkninja Inc. 0.26% 90,700 $7.6M No change
GLD SPDR Gold Shares 0.24% 24,344 $7.0M No change
DSGR Distribution Solutions Group 0.24% 249,892 $7.0M Add +33.7%
DBRG Digitalbridge Group Inc. 0.23% 768,441 $6.8M Add +23.7%
VVV Valvoline Inc. 0.21% 175,500 $6.1M Reduce -49.9%
UHAL.B U-Haul Holding Co.-Non Voting 0.20% 97,200 $5.8M No change
COP Conocophillips 0.18% 48,800 $5.1M Add +159.6%
ETN Eaton Corp. PLC 0.17% 18,681 $5.1M No change
JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC 0.16% 25,300 $4.6M Reduce -88.0%
BNT Brookfield Wealth Solutions 0.15% 84,720 $4.4M No change
FG F&G Annuities & Life Inc. 0.12% 96,384 $3.5M No change
HDB HDFC Bank Ltd.-ADR 0.11% 50,050 $3.3M No change
APO Apollo Global Management Inc. 0.10% 22,281 $3.1M No change
STNE Stoneco Ltd. Class A 0.10% 276,200 $2.9M No change
MAS Masco Corp. 0.10% 40,000 $2.8M Add +166.7%
STVN Stevanato Group SPA 0.09% 126,281 $2.6M No change
KARO Karooooo Ltd. 0.09% 60,566 $2.6M No change
FIX Comfort Systems USA Inc. 0.07% 6,600 $2.1M Add +73.7%
SPNS Sapiens International Corp. 0.07% 74,052 $2.0M No change
BRK.B Berkshire Hathaway Inc. Class B 0.07% 3,660 $1.9M Reduce -7.6%
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 0.06% 184,500 $1.9M Add +5.7%
AAPL Apple Inc. 0.06% 7,400 $1.6M Reduce -2.6%
HWM Howmet Aerospace Inc. 0.05% 11,500 $1.5M No change
SBS Cia Saneamento Basico DE-ADR filed as COMPANHIA DE SANEAMENTO BASI 0.05% 81,000 $1.4M No change
PAAS Pan American Silver Corp. 0.05% 55,500 $1.4M Add +9.9%
BSV Vanguard Short-Term Bond ETF 0.04% 16,300 $1.3M Reduce -3.5%
FSV Firstservice Corp. 0.04% 7,500 $1.2M No change
MSFT Microsoft Corp. 0.04% 3,045 $1.1M No change
TEL Te Connectivity PLC 0.04% 7,300 $1.0M Reduce -59.6%
LUCK Lucky Strike Entertainment C 0.03% 94,400 $921K No change
GDX Vaneck Gold Miners ETF 0.03% 18,650 $857K No change
INFL Horizon Kinetics Infl Benef 0.03% 19,000 $772K No change
SYK Stryker Corp. 0.02% 1,950 $726K No change
ROST Ross Stores Inc. 0.02% 4,700 $601K Reduce -17.5%
ULTA Ulta Beauty Inc. 0.02% 1,624 $595K No change
VWO Vanguard Ftse Emerging Marke 0.02% 13,076 $592K Add +0.1%
V Visa Inc. Class A 0.02% 1,470 $515K No change
REGN Regeneron Pharmaceuticals 0.02% 800 $507K No change
SHOP Shopify Inc. Class A 0.02% 5,250 $501K Reduce -25.0%
VRTX Vertex Pharmaceuticals Inc. 0.02% 1,000 $485K No change
FDX FedEx Corp. 0.02% 1,900 $463K No change
PHM Pultegroup Inc. 0.02% 4,398 $452K No change
JNJ Johnson & Johnson 0.01% 2,463 $408K No change
EQIX Equinix Inc. 0.01% 405 $330K No change
NSC Norfolk Southern Corp. 0.01% 1,359 $322K No change
BLDR Builders Firstsource Inc. 0.01% 2,400 $300K No change
MMM 3M Co. 0.01% 2,000 $294K No change
PAYX Paychex Inc. 0.01% 1,879 $290K No change
GGG Graco Inc. 0.01% 3,424 $286K No change
WMT Walmart Inc. 0.01% 3,200 $281K No change
KR Kroger Co. 0.01% 4,000 $271K No change
DE Deere & Co. 0.01% 550 $258K No change
EMR Emerson Electric Co. 0.01% 2,000 $219K No change
GD General Dynamics Corp. 0.01% 798 $218K No change
QCOM Qualcomm Inc. 0.01% 1,332 $205K No change

Portfolio Sells Q4 2024 → Q1 2025
JKHY Jack Henry & Associates Inc. Reduce -88.0% 0.16% −1.17
MKC McCormick & Co.-Non VTG SHRS Sold out 0.00% −0.55
ACN Accenture PLC Class A Reduce -0.6% 2.67% −0.51
MIR Mirion Technologies Inc. Reduce -29.3% 0.48% −0.37
TXN Texas Instruments Inc. Reduce -1.1% 3.02% −0.32
SLAB Silicon Laboratories Inc. Reduce -16.2% 0.75% −0.28
VVV Valvoline Inc. Reduce -49.9% 0.21% −0.25
ANSS Ansys Inc. Reduce -0.1% 1.64% −0.19
TEL Te Connectivity PLC Reduce -59.6% 0.04% −0.06
MSGS Madison Square Garden Sports Sold out 0.00% −0.05
BRK.A Berkshire Hathaway Inc. Class A Sold out 0.00% −0.05
DVN Devon Energy Corp. Sold out 0.00% −0.03
AAPL Apple Inc. Reduce -2.6% 0.06% −0.01
ROST Ross Stores Inc. Reduce -17.5% 0.02% −0.01
SHOP Shopify Inc. Class A Reduce -25.0% 0.02% −0.01
BSV Vanguard Short-Term Bond ETF Reduce -3.5% 0.04% −0.00
BRK.B Berkshire Hathaway Inc. Class B Reduce -7.6% 0.07% +0.00
XOM Exxon Mobil Corp. Reduce -1.8% 0.44% +0.01
EXE Expand Energy Corp. Reduce -3.2% 1.42% +0.04

Portfolio Buys Q4 2024 → Q1 2025
TPL Texas Pacific Land Corp. Add +0.4% 6.87% +0.88
RMBS Rambus Inc. New 0.68% +0.68
WU Western Union Co. New 0.50% +0.50
ROP Roper Technologies Inc. Add +10.2% 3.07% +0.49
HAE Haemonetics Corp. Add +148.0% 0.82% +0.39
CHE Chemed Corp. Add +5.4% 2.66% +0.38
AOS Smith (a.o.) Corp. Add +50.7% 1.27% +0.35
LB Landbridge Co. LLC-A Add +19.9% 1.26% +0.27
CDW CDW Corp. Add +41.4% 1.26% +0.25
WPM Wheaton Precious Metals Corp. Add +15.0% 0.71% +0.24
GPC Genuine Parts Co. Add +17.7% 1.65% +0.21
FNV Franco-Nevada Corp. Add +4.2% 0.67% +0.17
VRSN Verisign Inc. Add +34.1% 0.35% +0.13
WSO Watsco Inc. Add +8.2% 1.15% +0.11
COP Conocophillips Add +159.6% 0.18% +0.11
JOE The St Joe Co. Add +23.1% 0.53% +0.10
SLB SLB Ltd. Add +15.3% 0.55% +0.09
SNX TD Synnex Corp. Add +39.0% 0.51% +0.08
LHX L3HARRIS Technologies Inc. Add +12.4% 0.94% +0.06
MAS Masco Corp. Add +166.7% 0.10% +0.06
OXY Occidental Petroleum Corp. Add +15.1% 0.54% +0.05
FIX Comfort Systems USA Inc. Add +73.7% 0.07% +0.01
PAAS Pan American Silver Corp. Add +9.9% 0.05% +0.01
XPEL Xpel Inc. Add +44.2% 0.78% +0.01
DSGR Distribution Solutions Group Add +33.7% 0.24% +0.01
NU Nu Holdings Ltd./Cayman Isl-A Add +5.7% 0.06% −0.00
VWO Vanguard Ftse Emerging Marke Add +0.1% 0.02% −0.00
SMPL The Simply Good Foods Co. Add +18.3% 0.42% −0.00
DBRG Digitalbridge Group Inc. Add +23.7% 0.23% −0.02
YETI Yeti Holdings Inc. Add +9.9% 0.40% −0.04
PBT Permian Basin Royalty Trust Add +7.2% 0.50% −0.05
BL Blackline Inc. Add +22.9% 0.98% −0.07
BN Brookfield Corp. Add +2.5% 0.62% −0.08
TSM Taiwan Semiconductor-SP ADR Add +11.9% 1.76% −0.20

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 138$3.0BTPL, TXN, NVDA, HEI.A, TSM
Q1 2026 129$2.8BTPL, NVDA, TXN, HEI.A, MA
Q4 2025 133$2.9BTPL, MA, HEI.A, APG, NVDA
Q3 2025 130$3.0BTPL, MA, HEI.A, APG, NVDA
Q2 2025 124$3.0BTPL, MA, HEI.A, APG, TXN
Q1 2025 126$2.9BTPL, MA, HEI.A, ROP, TXN
Q4 2024 128$2.8BTPL, MA, TXN, ACN, HEI.A
Q3 2024 131$2.8BTPL, MA, TXN, HEI.A, ACN
Q2 2024 134$2.7BTPL, MA, TXN, CPRT, HEI.A
Q1 2024 140$2.7BMA, TPL, CPRT, TXN, APG