Schwartz Investment Counsel Inc.

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 30, 2025), Schwartz Investment Counsel Inc. reported 124 stock positions worth $3.0 billion. Its top holding was Texas Pacific Land (TPL) at 5.4% of the portfolio, followed by Mastercard Class A (MA, 4.3%) and Heico Class A (HEI.A, 3.9%). Compared with Q1 2025, it opened 2 new positions, sold out of 4, added to 37 and reduced 19. The biggest buy was Nvidia (NVDA, shares +2%) and the biggest sale Iqvia (IQV, shares −48%).

Most Recent 13F
Q2 2026
Location
PLYMOUTH, MI
CIK
0000909151
Portfolio Value
$3.0B (Q2 2025)
SEC Filing
0001398344-25-014137 ↗ filed Jul 30, 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 Q1 2025 Q2 2025: $3.0B $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 124 stocks · $3.0B
TPL Texas Pacific Land Corp. 5.36% 154,033 $162.7M Add +2.1%
MA Mastercard Inc. Class A 4.31% 232,574 $130.7M Reduce -4.1%
HEI.A Heico Corp. Class A 3.89% 455,710 $117.9M No change
APG Api Group Corp. 3.50% 2,083,209 $106.3M No change
TXN Texas Instruments Inc. 3.34% 488,900 $101.5M Add +0.0%
NVDA Nvidia Corp. 3.30% 634,865 $100.3M Add +2.4%
ROP Roper Technologies Inc. 3.17% 169,700 $96.2M Add +11.9%
SPGI S&P Global Inc. 2.82% 162,550 $85.7M No change
ACN Accenture PLC Class A 2.45% 248,950 $74.4M Reduce -0.2%
ORLY O'reilly Automotive Inc. 2.27% 765,000 $68.9M No change
CHE Chemed Corp. 2.24% 139,804 $68.1M Add +11.3%
SBAC SBA Communications Corp. 2.12% 274,000 $64.3M No change
BR Broadridge Financial Solutio 1.98% 247,350 $60.1M No change
LOW Lowe's Cos Inc. 1.97% 268,900 $59.7M Add +0.1%
MCO Moody's Corp. 1.95% 118,200 $59.3M No change
CB Chubb Ltd. 1.91% 200,050 $58.0M Add +8.1%
BRO Brown & Brown Inc. 1.90% 519,150 $57.6M No change
CPRT Copart Inc. 1.88% 1,162,800 $57.1M Add +0.0%
WSO Watsco Inc. 1.75% 120,000 $53.0M Add +81.8%
CCEP Coca-Cola Europacific Partne 1.62% 531,300 $49.3M Reduce -4.5%
GPC Genuine Parts Co. 1.62% 404,250 $49.0M Add +0.3%
FAST Fastenal Co. 1.54% 1,113,600 $46.8M No change
EXE Expand Energy Corp. 1.43% 370,420 $43.3M No change
CDW CDW Corp. 1.40% 238,250 $42.5M Add +4.0%
ATR Aptargroup Inc. 1.39% 270,000 $42.2M No change
FANG Diamondback Energy Inc. 1.31% 290,300 $39.9M No change
CVX Chevron Corp. 1.31% 278,267 $39.8M Add +10.3%
ANSS Ansys Inc. 1.28% 110,882 $38.9M Reduce -26.5%
AOS Smith (a.o.) Corp. 1.28% 590,333 $38.7M Add +4.5%
LMT Lockheed Martin Corp. 1.25% 82,000 $38.0M No change
FNF Fidelity National Financial 1.23% 665,000 $37.3M No change
TFC Truist Financial Corp. 1.19% 841,125 $36.2M Add +0.3%
LB Landbridge Co. LLC-A 1.16% 519,668 $35.1M Add +1.6%
CSL Carlisle Cos Inc. 1.11% 90,000 $33.6M No change
BL Blackline Inc. 1.10% 590,000 $33.4M No change
LHX L3HARRIS Technologies Inc. 1.08% 130,975 $32.9M No change
TSM Taiwan Semiconductor-SP ADR 1.08% 144,350 $32.7M Reduce -53.3%
TJX TJX Companies Inc. filed as TJX COS INC NEW 1.07% 263,250 $32.5M No change
XPEL Xpel Inc. 1.03% 870,999 $31.3M Add +12.5%
SLAB Silicon Laboratories Inc. 0.94% 192,790 $28.4M No change
ZTS Zoetis Inc. 0.92% 180,000 $28.1M New
HAE Haemonetics Corp. 0.92% 372,500 $27.8M Reduce -0.5%
BATRK Atlanta Braves Holdings in-C 0.84% 542,264 $25.4M No change
WPM Wheaton Precious Metals Corp. 0.81% 273,000 $24.5M Add +1.9%
RMBS Rambus Inc. 0.80% 380,337 $24.3M No change
BKNG Booking Holdings Inc. 0.76% 4,000 $23.2M No change
SNX TD Synnex Corp. 0.76% 169,500 $23.0M Add +18.9%
BN Brookfield Corp. 0.71% 346,395 $21.4M Add +0.5%
TSCO Tractor Supply Company 0.69% 397,500 $21.0M No change
FNV Franco-Nevada Corp. 0.68% 126,700 $20.8M Add +2.0%
MIR Mirion Technologies Inc. 0.68% 954,300 $20.5M No change
HIFS Hingham Institution for SVGS 0.66% 81,087 $20.1M No change
PBT Permian Basin Royalty Trust 0.59% 1,449,709 $18.0M Reduce -2.5%
OXY Occidental Petroleum Corp. 0.58% 418,750 $17.6M Add +31.1%
IQV Iqvia Holdings Inc. 0.57% 110,290 $17.4M Reduce -48.3%
DGX Quest Diagnostics Inc. 0.57% 95,900 $17.2M No change
ICE Intercontinental Exchange Inc. 0.55% 91,000 $16.7M Add +7.1%
SIMO Silicon Motion Technol-ADR 0.54% 220,000 $16.5M Add +15.8%
JOE The St Joe Co. 0.53% 335,400 $16.0M Add +1.5%
ALC Alcon Inc. filed as ALCON AG 0.50% 172,483 $15.2M Add +25.5%
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.50% 448,300 $15.2M Add +16.5%
SMPL The Simply Good Foods Co. 0.45% 436,870 $13.8M Add +21.9%
AWI Armstrong World Industries 0.42% 78,000 $12.7M No change
VRSN Verisign Inc. 0.39% 40,500 $11.7M No change
XOM Exxon Mobil Corp. 0.38% 106,735 $11.5M Add +0.2%
YETI Yeti Holdings Inc. filed as YETI HLDGS INC 0.37% 355,070 $11.2M Add +0.9%
ALLE Allegion PLC 0.36% 76,000 $11.0M No change
WU Western Union Co. 0.35% 1,275,000 $10.7M Reduce -7.3%
GFL GFL Environmental Inc.-Sub VT 0.35% 210,722 $10.6M No change
WINA Winmark Corp. 0.33% 26,600 $10.0M No change
DSGR Distribution Solutions Group 0.30% 330,424 $9.1M Add +32.2%
SN Sharkninja Inc. 0.30% 90,700 $9.0M No change
BLDR Builders Firstsource Inc. 0.26% 67,400 $7.9M Add +2708.3%
GLD SPDR Gold Shares 0.24% 24,344 $7.4M No change
ETN Eaton Corp. PLC 0.22% 18,681 $6.7M No change
DBRG Digitalbridge Group Inc. 0.19% 543,627 $5.6M Reduce -29.3%
BNT Brookfield Wealth Solutions 0.17% 84,720 $5.2M No change
COP Conocophillips 0.17% 56,600 $5.1M Add +16.0%
JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC 0.15% 25,300 $4.6M No change
STNE Stoneco Ltd. Class A 0.15% 276,200 $4.4M No change
MAS Masco Corp. 0.13% 60,000 $3.9M Add +50.0%
HDB HDFC Bank Ltd.-ADR 0.13% 50,050 $3.8M No change
FIX Comfort Systems USA Inc. 0.12% 6,600 $3.5M No change
APO Apollo Global Management Inc. 0.10% 22,281 $3.2M No change
STVN Stevanato Group SPA 0.10% 126,281 $3.1M No change
FG F&G Annuities & Life Inc. 0.10% 96,384 $3.1M No change
KARO Karooooo Ltd. 0.10% 60,566 $3.0M No change
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 0.08% 184,500 $2.5M No change
SBS Cia Saneamento Basico DE-ADR filed as COMPANHIA DE SANEAMENTO BASI 0.08% 104,000 $2.3M Add +28.4%
HWM Howmet Aerospace Inc. 0.07% 11,500 $2.1M No change
BRK.B Berkshire Hathaway Inc. Class B 0.06% 3,535 $1.7M Reduce -3.4%
SPNS Sapiens International Corp. 0.05% 56,452 $1.7M Reduce -23.8%
PAAS Pan American Silver Corp. 0.05% 58,000 $1.6M Add +4.5%
AAPL Apple Inc. 0.05% 7,400 $1.5M No change
MSFT Microsoft Corp. 0.05% 3,045 $1.5M No change
FSV Firstservice Corp. 0.04% 7,500 $1.3M No change
BSV Vanguard Short-Term Bond ETF 0.04% 15,800 $1.2M Reduce -3.1%
GDX Vaneck Gold Miners ETF 0.03% 18,650 $971K No change
INFL Horizon Kinetics Infl Benef 0.03% 19,000 $801K No change
ULTA Ulta Beauty Inc. 0.03% 1,624 $760K No change
SYK Stryker Corp. 0.02% 1,900 $752K Reduce -2.6%
SHOP Shopify Inc. Class A 0.02% 6,150 $709K Add +17.1%
VWO Vanguard Ftse Emerging Marke 0.02% 12,509 $619K Reduce -4.3%
ROST Ross Stores Inc. 0.02% 4,700 $600K No change
TEL Te Connectivity PLC 0.02% 3,500 $590K Reduce -52.0%
V Visa Inc. Class A 0.02% 1,470 $522K No change
REGN Regeneron Pharmaceuticals 0.02% 975 $512K Add +21.9%
PHM Pultegroup Inc. 0.02% 4,398 $464K No change
VRTX Vertex Pharmaceuticals Inc. 0.01% 1,000 $445K No change
FDX FedEx Corp. 0.01% 1,900 $432K No change
BAM Brookfield Asset Mgmt-A 0.01% 7,275 $402K Reduce -96.9%
JNJ Johnson & Johnson 0.01% 2,463 $376K No change
NSC Norfolk Southern Corp. 0.01% 1,359 $348K No change
EQIX Equinix Inc. 0.01% 405 $322K No change
MMM 3M Co. 0.01% 2,000 $304K No change
WMT Walmart Inc. 0.01% 3,050 $298K Reduce -4.7%
GGG Graco Inc. 0.01% 3,424 $294K No change
DE Deere & Co. 0.01% 550 $280K No change
PAYX Paychex Inc. 0.01% 1,879 $273K No change
EMR Emerson Electric Co. 0.01% 2,000 $267K No change
KR Kroger Co. 0.01% 3,700 $265K Reduce -7.5%
GD General Dynamics Corp. 0.01% 798 $233K No change
QCOM Qualcomm Inc. 0.01% 1,332 $212K No change
COF Capital One Financial Corp. 0.01% 950 $202K New

Portfolio Sells Q1 2025 → Q2 2025
IQV Iqvia Holdings Inc. Reduce -48.3% 0.57% −0.72
TSM Taiwan Semiconductor-SP ADR Reduce -53.3% 1.08% −0.69
BAM Brookfield Asset Mgmt-A Reduce -96.9% 0.01% −0.38
ANSS Ansys Inc. Reduce -26.5% 1.28% −0.36
OTIS Otis Worldwide Corp. Sold out 0.00% −0.30
MA Mastercard Inc. Class A Reduce -4.1% 4.31% −0.26
ACN Accenture PLC Class A Reduce -0.2% 2.45% −0.22
VVV Valvoline Inc. Sold out 0.00% −0.21
UHAL.B U-Haul Holding Co.-Non Voting Sold out 0.00% −0.20
WU Western Union Co. Reduce -7.3% 0.35% −0.15
DBRG Digitalbridge Group Inc. Reduce -29.3% 0.19% −0.05
CCEP Coca-Cola Europacific Partne Reduce -4.5% 1.62% −0.04
LUCK Lucky Strike Entertainment C Sold out 0.00% −0.03
TEL Te Connectivity PLC Reduce -52.0% 0.02% −0.02
SPNS Sapiens International Corp. Reduce -23.8% 0.05% −0.01
BRK.B Berkshire Hathaway Inc. Class B Reduce -3.4% 0.06% −0.01
BSV Vanguard Short-Term Bond ETF Reduce -3.1% 0.04% −0.00
KR Kroger Co. Reduce -7.5% 0.01% −0.00
SYK Stryker Corp. Reduce -2.6% 0.02% −0.00
VWO Vanguard Ftse Emerging Marke Reduce -4.3% 0.02% 0.00
WMT Walmart Inc. Reduce -4.7% 0.01% +0.00
PBT Permian Basin Royalty Trust Reduce -2.5% 0.59% +0.09
HAE Haemonetics Corp. Reduce -0.5% 0.92% +0.10

Portfolio Buys Q1 2025 → Q2 2025
NVDA Nvidia Corp. Add +2.4% 3.30% +1.00
ZTS Zoetis Inc. New 0.92% +0.92
WSO Watsco Inc. Add +81.8% 1.75% +0.59
TXN Texas Instruments Inc. Add +0.0% 3.34% +0.33
BLDR Builders Firstsource Inc. Add +2708.3% 0.26% +0.25
SNX TD Synnex Corp. Add +18.9% 0.76% +0.25
XPEL Xpel Inc. Add +12.5% 1.03% +0.25
SIMO Silicon Motion Technol-ADR Add +15.8% 0.54% +0.21
CDW CDW Corp. Add +4.0% 1.40% +0.14
ROP Roper Technologies Inc. Add +11.9% 3.17% +0.10
WPM Wheaton Precious Metals Corp. Add +1.9% 0.81% +0.09
BN Brookfield Corp. Add +0.5% 0.71% +0.09
DSGR Distribution Solutions Group Add +32.2% 0.30% +0.06
ALC Alcon Inc. Add +25.5% 0.50% +0.05
ICE Intercontinental Exchange Inc. Add +7.1% 0.55% +0.05
OXY Occidental Petroleum Corp. Add +31.1% 0.58% +0.04
MAS Masco Corp. Add +50.0% 0.13% +0.03
SMPL The Simply Good Foods Co. Add +21.9% 0.45% +0.03
SBS Cia Saneamento Basico DE-ADR Add +28.4% 0.08% +0.03
FNV Franco-Nevada Corp. Add +2.0% 0.68% +0.01
COF Capital One Financial Corp. New 0.01% +0.01
AOS Smith (a.o.) Corp. Add +4.5% 1.28% +0.01
SHOP Shopify Inc. Class A Add +17.1% 0.02% +0.01
TFC Truist Financial Corp. Add +0.3% 1.19% +0.01
PAAS Pan American Silver Corp. Add +4.5% 0.05% +0.01
REGN Regeneron Pharmaceuticals Add +21.9% 0.02% −0.00
JOE The St Joe Co. Add +1.5% 0.53% −0.01
COP Conocophillips Add +16.0% 0.17% −0.01
CB Chubb Ltd. Add +8.1% 1.91% −0.01
YETI Yeti Holdings Inc. Add +0.9% 0.37% −0.03
GPC Genuine Parts Co. Add +0.3% 1.62% −0.03
SLB SLB Ltd. Add +16.5% 0.50% −0.05
XOM Exxon Mobil Corp. Add +0.2% 0.38% −0.06
LB Landbridge Co. LLC-A Add +1.6% 1.16% −0.11
CVX Chevron Corp. Add +10.3% 1.31% −0.14
LOW Lowe's Cos Inc. Add +0.1% 1.97% −0.19
CPRT Copart Inc. Add +0.0% 1.88% −0.38
CHE Chemed Corp. Add +11.3% 2.24% −0.41
TPL Texas Pacific Land Corp. Add +2.1% 5.36% −1.51

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