Schwartz Investment Counsel Inc.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 29, 2025), Schwartz Investment Counsel Inc. reported 130 stock positions worth $3.0 billion. Its top holding was Texas Pacific Land (TPL) at 4.8% of the portfolio, followed by Mastercard Class A (MA, 4.3%) and Heico Class A (HEI.A, 3.9%). Compared with Q2 2025, it opened 9 new positions, sold out of 3, added to 21 and reduced 38. The biggest buy was a new position in Waterbridge Infrastruc Class A (WBI) and the biggest sale an exit from Ansys (ANSS).

Most Recent 13F
Q2 2026
Location
PLYMOUTH, MI
CIK
0000909151
Portfolio Value
$3.0B (Q3 2025)
SEC Filing
0001398344-25-019951 ↗ filed Oct 29, 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 Q2 2025 Q3 2025: $3.0B $3.0B Q3 2025 Q4 2025: $2.9B Q4 2025 Q1 2026: $2.8B Q1 2026 Q2 2026: $3.0B Q2 2026

Holdings 130 stocks · $3.0B
TPL Texas Pacific Land Corp. 4.81% 153,421 $143.2M Reduce -0.4%
MA Mastercard Inc. Class A 4.34% 227,574 $129.4M Reduce -2.1%
HEI.A Heico Corp. Class A 3.88% 455,710 $115.8M No change
APG Api Group Corp. 3.57% 3,094,652 $106.4M Reduce -1.0%
NVDA Nvidia Corp. 3.57% 570,000 $106.4M Reduce -10.2%
ROP Roper Technologies Inc. 3.21% 191,700 $95.6M Add +13.0%
TXN Texas Instruments Inc. 3.01% 488,900 $89.8M No change
SPGI S&P Global Inc. 2.65% 162,550 $79.1M No change
ORLY O'reilly Automotive Inc. 2.41% 665,000 $71.7M Reduce -13.1%
LOW Lowe's Cos Inc. 2.27% 268,900 $67.6M No change
BR Broadridge Financial Solutio 1.98% 247,350 $58.9M No change
ACN Accenture PLC Class A 1.96% 236,950 $58.4M Reduce -4.8%
CB Chubb Ltd. 1.89% 200,050 $56.5M No change
MCO Moody's Corp. 1.89% 118,200 $56.3M No change
GPC Genuine Parts Co. 1.88% 404,250 $56.0M No change
BRO Brown & Brown Inc. 1.68% 532,400 $49.9M Add +2.5%
CHE Chemed Corp. 1.67% 111,033 $49.7M Reduce -20.6%
ATR Aptargroup Inc. 1.66% 370,000 $49.5M Add +37.0%
WSO Watsco Inc. 1.63% 120,000 $48.5M No change
CCEP Coca-Cola Europacific Partne 1.55% 511,150 $46.2M Reduce -3.8%
FAST Fastenal Co. 1.48% 901,600 $44.2M Reduce -19.0%
AOS Smith (a.o.) Corp. 1.45% 590,333 $43.3M No change
CPRT Copart Inc. 1.45% 962,800 $43.3M Reduce -17.2%
CVX Chevron Corp. 1.40% 268,067 $41.6M Reduce -3.7%
SBAC SBA Communications Corp. 1.36% 209,000 $40.4M Reduce -23.7%
TSM Taiwan Semiconductor-SP ADR 1.35% 144,350 $40.3M No change
LHX L3HARRIS Technologies Inc. 1.34% 130,975 $40.0M No change
EXE Expand Energy Corp. 1.32% 370,420 $39.4M No change
TFC Truist Financial Corp. 1.29% 842,695 $38.5M Add +0.2%
TJX TJX Companies Inc. filed as TJX COS INC NEW 1.28% 263,250 $38.1M No change
FNF Fidelity National Financial 1.25% 615,000 $37.2M Reduce -7.5%
BL Blackline Inc. 1.23% 690,000 $36.6M Add +16.9%
ZTS Zoetis Inc. 1.23% 250,000 $36.6M Add +38.9%
CDW CDW Corp. 1.23% 229,250 $36.5M Reduce -3.8%
FANG Diamondback Energy Inc. 1.18% 245,300 $35.1M Reduce -15.5%
LMT Lockheed Martin Corp. 1.04% 62,000 $31.0M Reduce -24.4%
LB Landbridge Co. LLC-A 1.04% 579,763 $30.9M Add +11.6%
WPM Wheaton Precious Metals Corp. 1.02% 273,000 $30.5M No change
XPEL Xpel Inc. 1.01% 912,999 $30.2M Add +4.8%
CSL Carlisle Cos Inc. 0.99% 90,000 $29.6M No change
FNV Franco-Nevada Corp. 0.95% 126,700 $28.2M No change
SNX TD Synnex Corp. 0.93% 169,500 $27.8M No change
WBI Waterbridge Infrastruc Class A 0.91% 1,073,029 $27.1M New
SLAB Silicon Laboratories Inc. 0.85% 192,790 $25.3M No change
RMBS Rambus Inc. 0.81% 230,337 $24.0M Reduce -39.4%
TSCO Tractor Supply Company 0.76% 397,500 $22.6M No change
BATRK Atlanta Braves Holdings in-C 0.76% 542,264 $22.6M No change
BKNG Booking Holdings Inc. 0.72% 4,000 $21.6M No change
BN Brookfield Corp. 0.72% 314,445 $21.6M Reduce -9.2%
HIFS Hingham Institution for SVGS 0.72% 81,087 $21.4M No change
SIMO Silicon Motion Technol-ADR 0.70% 220,000 $20.9M No change
MIR Mirion Technologies Inc. 0.67% 854,300 $19.9M Reduce -10.5%
TSEM Tower Semiconductor Ltd. 0.63% 260,000 $18.8M New
SNPS Synopsys Inc. 0.62% 37,685 $18.6M New
ENTG Entegris Inc. 0.62% 200,000 $18.5M New
DGX Quest Diagnostics Inc. 0.61% 95,900 $18.3M No change
PBT Permian Basin Royalty Trust 0.60% 984,672 $18.0M Reduce -32.1%
JOE The St Joe Co. 0.56% 335,400 $16.6M No change
ICE Intercontinental Exchange Inc. 0.51% 91,000 $15.3M No change
AWI Armstrong World Industries 0.51% 78,000 $15.3M No change
ALC Alcon Inc. filed as ALCON AG 0.46% 182,483 $13.6M Add +5.8%
ALLE Allegion PLC 0.45% 76,000 $13.5M No change
WINA Winmark Corp. 0.44% 26,600 $13.2M No change
IQV Iqvia Holdings Inc. 0.41% 64,000 $12.2M Reduce -42.0%
XOM Exxon Mobil Corp. 0.40% 105,535 $11.9M Reduce -1.1%
SMPL The Simply Good Foods Co. 0.40% 474,400 $11.8M Add +8.6%
VRSN Verisign Inc. 0.38% 40,500 $11.3M No change
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.37% 317,300 $10.9M Reduce -29.2%
DSGR Distribution Solutions Group 0.36% 355,424 $10.7M Add +7.6%
BLDR Builders Firstsource Inc. 0.33% 81,800 $9.9M Add +21.4%
FOUR SHIFT4 Payments Inc. Class A 0.32% 125,000 $9.7M New
SN Sharkninja Inc. 0.31% 90,700 $9.4M No change
GFL GFL Environmental Inc.-Sub VT 0.30% 187,341 $8.9M Reduce -11.1%
GLD SPDR Gold Shares 0.29% 24,344 $8.7M No change
WU Western Union Co. 0.27% 1,025,000 $8.2M Reduce -19.6%
DBRG Digitalbridge Group Inc. 0.24% 601,187 $7.0M Add +10.6%
ETN Eaton Corp. PLC 0.23% 18,606 $7.0M Reduce -0.4%
HAE Haemonetics Corp. 0.22% 137,250 $6.7M Reduce -63.1%
OXY Occidental Petroleum Corp. 0.19% 122,750 $5.8M Reduce -70.7%
FIX Comfort Systems USA Inc. 0.18% 6,600 $5.4M No change
STNE Stoneco Ltd. Class A 0.16% 256,400 $4.8M Reduce -7.2%
BAM Brookfield Asset Mgmt-A 0.13% 69,717 $4.0M Add +858.3%
JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC 0.13% 25,300 $3.8M No change
BNT Brookfield Wealth Solutions 0.12% 53,198 $3.6M Reduce -37.2%
KARO Karooooo Ltd. 0.12% 63,765 $3.6M Add +5.3%
APO Apollo Global Management Inc. 0.12% 26,964 $3.6M Add +21.0%
COP Conocophillips 0.12% 37,800 $3.6M Reduce -33.2%
MAS Masco Corp. 0.12% 50,000 $3.5M Reduce -16.7%
TIC Tic Solutions Inc. filed as ACUREN CORP 0.12% 263,946 $3.5M New
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 0.12% 217,600 $3.5M Add +17.9%
HDB HDFC Bank Ltd.-ADR 0.11% 100,100 $3.4M No change
STVN Stevanato Group SPA 0.11% 126,281 $3.3M No change
SBS Cia Saneamento Basico DE-ADR filed as COMPANHIA DE SANEAMENTO BASI 0.10% 122,300 $3.0M Add +17.6%
FG F&G Annuities & Life Inc. 0.10% 96,384 $3.0M No change
DLO Dlocal Ltd. 0.10% 207,200 $3.0M New
YETI Yeti Holdings Inc. filed as YETI HLDGS INC 0.09% 82,550 $2.7M Reduce -76.8%
HWM Howmet Aerospace Inc. 0.08% 11,500 $2.3M No change
PAAS Pan American Silver Corp. 0.08% 58,000 $2.2M No change
AAPL Apple Inc. 0.06% 7,000 $1.8M Reduce -5.4%
BRK.B Berkshire Hathaway Inc. Class B 0.06% 3,410 $1.7M Reduce -3.5%

Show all 130 holdings

Portfolio Sells Q2 2025 → Q3 2025
ANSS Ansys Inc. Sold out 0.00% −1.28
SBAC SBA Communications Corp. Reduce -23.7% 1.36% −0.76
HAE Haemonetics Corp. Reduce -63.1% 0.22% −0.69
CHE Chemed Corp. Reduce -20.6% 1.67% −0.57
TPL Texas Pacific Land Corp. Reduce -0.4% 4.81% −0.56
ACN Accenture PLC Class A Reduce -4.8% 1.96% −0.49
CPRT Copart Inc. Reduce -17.2% 1.45% −0.43
OXY Occidental Petroleum Corp. Reduce -70.7% 0.19% −0.39
YETI Yeti Holdings Inc. Reduce -76.8% 0.09% −0.28
LMT Lockheed Martin Corp. Reduce -24.4% 1.04% −0.21
CDW CDW Corp. Reduce -3.8% 1.23% −0.18
IQV Iqvia Holdings Inc. Reduce -42.0% 0.41% −0.16
FANG Diamondback Energy Inc. Reduce -15.5% 1.18% −0.14
SLB SLB Ltd. Reduce -29.2% 0.37% −0.13
WU Western Union Co. Reduce -19.6% 0.27% −0.08
CCEP Coca-Cola Europacific Partne Reduce -3.8% 1.55% −0.07
FAST Fastenal Co. Reduce -19.0% 1.48% −0.06
GFL GFL Environmental Inc.-Sub VT Reduce -11.1% 0.30% −0.05
BNT Brookfield Wealth Solutions Reduce -37.2% 0.12% −0.05
COP Conocophillips Reduce -33.2% 0.12% −0.05
INFL Horizon Kinetics Infl Benef Sold out 0.00% −0.03
SPNS Sapiens International Corp. Reduce -53.5% 0.04% −0.02
FDX FedEx Corp. Sold out 0.00% −0.01
MIR Mirion Technologies Inc. Reduce -10.5% 0.67% −0.01
MAS Masco Corp. Reduce -16.7% 0.12% −0.01
BSV Vanguard Short-Term Bond ETF Reduce -2.2% 0.04% −0.00
BRK.B Berkshire Hathaway Inc. Class B Reduce -3.5% 0.06% +0.00
JNJ Johnson & Johnson Reduce -8.1% 0.01% +0.00
RMBS Rambus Inc. Reduce -39.4% 0.81% +0.00
PBT Permian Basin Royalty Trust Reduce -32.1% 0.60% +0.01
AAPL Apple Inc. Reduce -5.4% 0.06% +0.01
ETN Eaton Corp. PLC Reduce -0.4% 0.23% +0.01
STNE Stoneco Ltd. Class A Reduce -7.2% 0.16% +0.02
BN Brookfield Corp. Reduce -9.2% 0.72% +0.02
FNF Fidelity National Financial Reduce -7.5% 1.25% +0.02
XOM Exxon Mobil Corp. Reduce -1.1% 0.40% +0.02
MA Mastercard Inc. Class A Reduce -2.1% 4.34% +0.04
APG Api Group Corp. Reduce -1.0% 3.57% +0.06
CVX Chevron Corp. Reduce -3.7% 1.40% +0.08
ORLY O'reilly Automotive Inc. Reduce -13.1% 2.41% +0.13
NVDA Nvidia Corp. Reduce -10.2% 3.57% +0.26

Portfolio Buys Q2 2025 → Q3 2025
WBI Waterbridge Infrastruc Class A New 0.91% +0.91
TSEM Tower Semiconductor Ltd. New 0.63% +0.63
SNPS Synopsys Inc. New 0.62% +0.62
ENTG Entegris Inc. New 0.62% +0.62
FOUR SHIFT4 Payments Inc. Class A New 0.32% +0.32
ZTS Zoetis Inc. Add +38.9% 1.23% +0.30
ATR Aptargroup Inc. Add +37.0% 1.66% +0.27
BL Blackline Inc. Add +16.9% 1.23% +0.13
BAM Brookfield Asset Mgmt-A Add +858.3% 0.13% +0.12
TIC Tic Solutions Inc. New 0.12% +0.12
TFC Truist Financial Corp. Add +0.2% 1.29% +0.10
DLO Dlocal Ltd. New 0.10% +0.10
BLDR Builders Firstsource Inc. Add +21.4% 0.33% +0.07
DSGR Distribution Solutions Group Add +7.6% 0.36% +0.06
DBRG Digitalbridge Group Inc. Add +10.6% 0.24% +0.05
PHR Phreesia Inc. New 0.04% +0.04
ROP Roper Technologies Inc. Add +13.0% 3.21% +0.04
VIST Vista Energy Sab DE CV New 0.03% +0.03
NU Nu Holdings Ltd./Cayman Isl-A Add +17.9% 0.12% +0.03
TEL Te Connectivity PLC Add +102.9% 0.05% +0.03
SBS Cia Saneamento Basico DE-ADR Add +17.6% 0.10% +0.03
KARO Karooooo Ltd. Add +5.3% 0.12% +0.02
APO Apollo Global Management Inc. Add +21.0% 0.12% +0.02
REGN Regeneron Pharmaceuticals Add +12.8% 0.02% +0.00
VWO Vanguard Ftse Emerging Marke Add +0.5% 0.02% +0.00
XPEL Xpel Inc. Add +4.8% 1.01% −0.02
ALC Alcon Inc. Add +5.8% 0.46% −0.05
SMPL The Simply Good Foods Co. Add +8.6% 0.40% −0.06
LB Landbridge Co. LLC-A Add +11.6% 1.04% −0.12
BRO Brown & Brown Inc. Add +2.5% 1.68% −0.22

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