# Scharf Investments, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1463746. Source: https://holderbook.com/funds/1463746-scharf-investments-llc/

- Reported value: $3.0B
- Positions: 79
- Weight of the ten largest: 45.0%
- Filed: 2026-07-13

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ADVISORS SER TR | [KAT](https://holderbook.com/stocks/KAT/) | $238.9M | 4,419,958 | 7.9% | 4 |
| OCCIDENTAL PETE CORP | [OXY](https://holderbook.com/stocks/OXY/) | $154.8M | 3,187,747 | 5.1% | 9 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $147.5M | 542,136 | 4.9% | 13 |
| ADVISORS SER TR | [GKAT](https://holderbook.com/stocks/GKAT/) | $131.1M | 3,036,088 | 4.3% | 4 |
| MARKEL GROUP INC | [MKL](https://holderbook.com/stocks/MKL/) | $118.3M | 60,564 | 3.9% | 23 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $117.1M | 313,848 | 3.9% | 31 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $115.4M | 484,291 | 3.8% | 2 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $115.3M | 335,988 | 3.8% | 25 |
| MCKESSON CORP | [MCK](https://holderbook.com/stocks/MCK/) | $113.8M | 150,631 | 3.8% | 31 |
| BROOKFIELD CORP | [BN](https://holderbook.com/stocks/BN/) | $110.4M | 2,591,096 | 3.6% | 15 |
| CENTENE CORP DEL | [CNC](https://holderbook.com/stocks/CNC/) | $105.9M | 1,650,542 | 3.5% | 24 |
| AGILENT TECHNOLOGIES INC | [A](https://holderbook.com/stocks/A/) | $100.2M | 754,161 | 3.3% | 4 |
| FRANCO NEV CORP | [FNV](https://holderbook.com/stocks/FNV/) | $98.5M | 472,469 | 3.3% | 5 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $96.0M | 170,441 | 3.2% | 6 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $89.2M | 178,328 | 2.9% | 31 |
| CHUBB LIMITED | [CB](https://holderbook.com/stocks/CB/) | $81.9M | 240,324 | 2.7% | 4 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $78.9M | 189,754 | 2.6% | 5 |
| AON PLC | [AON](https://holderbook.com/stocks/AON/) | $75.2M | 226,626 | 2.5% | 9 |
| OTIS WORLDWIDE CORP | [OTIS](https://holderbook.com/stocks/OTIS/) | $72.2M | 1,007,995 | 2.4% | 4 |
| CME GROUP INC | [CME](https://holderbook.com/stocks/CME/) | $63.9M | 289,373 | 2.1% | 8 |
| HERSHEY CO | [HSY](https://holderbook.com/stocks/HSY/) | $62.5M | 355,964 | 2.1% | 5 |
| ADOBE INC | [ADBE](https://holderbook.com/stocks/ADBE/) | $60.5M | 295,118 | 2.0% | 24 |
| STRYKER CORPORATION | [SYK](https://holderbook.com/stocks/SYK/) | $58.1M | 184,576 | 1.9% | 24 |
| MARSH & MCLENNAN COS INC | [MRSH](https://holderbook.com/stocks/MRSH/) | $57.4M | 344,395 | 1.9% | 3 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $56.9M | 591,045 | 1.9% | 11 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $56.5M | 112,770 | 1.9% | 4 |
| ZOETIS INC | [ZTS](https://holderbook.com/stocks/ZTS/) | $52.7M | 733,571 | 1.7% | 4 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $50.3M | 67,398 | 1.7% | 31 |
| NOVARTIS AG | [NVS](https://holderbook.com/stocks/NVS/) | $48.7M | 310,818 | 1.6% | 31 |
| U HAUL HOLDING COMPANY | [UHALB](https://holderbook.com/stocks/UHALB/) | $47.4M | 821,423 | 1.6% | 13 |
| LOCKHEED MARTIN CORP | [LMT](https://holderbook.com/stocks/LMT/) | $44.5M | 87,401 | 1.5% | 24 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $41.3M | 206,500 | 1.4% | 12 |
| SPDR SERIES TRUST | [BIL](https://holderbook.com/stocks/BIL/) | $27.1M | 296,158 | 0.9% | 15 |
| U HAUL HOLDING COMPANY | [UHAL](https://holderbook.com/stocks/UHAL/) | $27.0M | 412,078 | 0.9% | 13 |
| SMITH A O CORP | [AOS](https://holderbook.com/stocks/AOS/) | $23.5M | 374,792 | 0.8% | 1 |
| CVS HEALTH CORP | [CVS](https://holderbook.com/stocks/CVS/) | $9.7M | 93,867 | 0.3% | 31 |
| MERCADOLIBRE INC | [MELI](https://holderbook.com/stocks/MELI/) | $9.4M | 5,533 | 0.3% | 2 |
| CANADIAN NATL RY CO | [CNI](https://holderbook.com/stocks/CNI/) | $9.3M | 77,884 | 0.3% | 3 |
| SLB LIMITED | [SLB](https://holderbook.com/stocks/SLB/) | $4.8M | 103,789 | 0.2% | 7 |
| HALEON PLC | [HLN](https://holderbook.com/stocks/HLN/) | $4.5M | 485,251 | 0.1% | 5 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $3.7M | 13,863 | 0.1% | 1 |
| CANADIAN PACIFIC KANSAS CITY | [CP](https://holderbook.com/stocks/CP/) | $3.5M | 40,452 | 0.1% | 3 |
| LINDE PLC | [LIN](https://holderbook.com/stocks/LIN/) | $3.3M | 6,379 | 0.1% | 1 |
| ASML HLDG NV | [ASML](https://holderbook.com/stocks/ASML/) | $3.1M | 1,573 | 0.1% | 1 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $3.0M | 8,511 | 0.1% | 31 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $2.7M | 7,551 | 0.1% | 23 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $2.6M | 8,870 | 0.1% | 31 |
| ISHARES TR | [IWB](https://holderbook.com/stocks/IWB/) | $2.4M | 5,956 | 0.1% | 3 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $2.3M | 38,131 | 0.1% | 1 |
| DONALDSON INC | [DCI](https://holderbook.com/stocks/DCI/) | $2.3M | 25,353 | 0.1% | 7 |
| BOOKING HOLDINGS INC | [BKNG](https://holderbook.com/stocks/BKNG/) | $2.0M | 11,295 | 0.1% | 17 |
| COMCAST CORP NEW | [CMCSA](https://holderbook.com/stocks/CMCSA/) | $1.9M | 76,396 | 0.1% | 31 |
| WW GRAINGER INC | [GWW](https://holderbook.com/stocks/GWW/) | $1.7M | 1,260 | 0.1% | 18 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $1.5M | 9,921 | 0.0% | 31 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $1.3M | 1,086 | 0.0% | 8 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $1.3M | 3,381 | 0.0% | 4 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $1.1M | 2,190 | 0.0% | 24 |
| IMMUNOME INC | [IMNM](https://holderbook.com/stocks/IMNM/) | $940.6K | 44,389 | 0.0% | 7 |
| EATON CORP PLC | [ETN](https://holderbook.com/stocks/ETN/) | $862.5K | 2,024 | 0.0% | 10 |
| AIR PRODUCTS AND CHEMICALS I | [APD](https://holderbook.com/stocks/APD/) | $856.4K | 2,921 | 0.0% | 10 |
| VANGUARD INTL EQUITY INDEX F | [VEU](https://holderbook.com/stocks/VEU/) | $840.3K | 10,034 | 0.0% | 1 |
| SCHWAB CHARLES CORP | [SCHW](https://holderbook.com/stocks/SCHW/) | $817.4K | 8,859 | 0.0% | 1 |
| VANGUARD INDEX FDS | [VV](https://holderbook.com/stocks/VV/) | $732.9K | 2,131 | 0.0% | 3 |
| AIRBNB INC | [ABNB](https://holderbook.com/stocks/ABNB/) | $681.2K | 4,760 | 0.0% | 2 |
| AMPHENOL CORP | [APH](https://holderbook.com/stocks/APH/) | $640.2K | 3,631 | 0.0% | 3 |
| ISHARES TR | [SHY](https://holderbook.com/stocks/SHY/) | $501.6K | 6,108 | 0.0% | 4 |
| ISHARES INC | [EWY](https://holderbook.com/stocks/EWY/) | $483.8K | 2,396 | 0.0% | 1 |
| SPROTT ASSET MANAGEMENT LP | [PSLV](https://holderbook.com/stocks/PSLV/) | $471.8K | 25,000 | 0.0% | 1 |
| CARGURUS INC | [CARG](https://holderbook.com/stocks/CARG/) | $404.6K | 11,868 | 0.0% | 1 |
| S&P GLOBAL INC | [SPGI](https://holderbook.com/stocks/SPGI/) | $388.5K | 954 | 0.0% | 2 |
| SMITH & NEPHEW PLC | [SNN](https://holderbook.com/stocks/SNN/) | $376.4K | 13,064 | 0.0% | 16 |
| SELECT SECTOR SPDR TR | [XLV](https://holderbook.com/stocks/XLV/) | $338.7K | 2,135 | 0.0% | 1 |
| AUTOMATIC DATA PROCESSING IN | [ADP](https://holderbook.com/stocks/ADP/) | $322.5K | 1,440 | 0.0% | 18 |
| SERVICENOW INC | [NOW](https://holderbook.com/stocks/NOW/) | $285.8K | 2,879 | 0.0% | 2 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $269.5K | 1,779 | 0.0% | 2 |
| EAST WEST BANCORP INC | [EWBC](https://holderbook.com/stocks/EWBC/) | $229.3K | 1,776 | 0.0% | 1 |
| UBER TECHNOLOGIES INC | [UBER](https://holderbook.com/stocks/UBER/) | $203.5K | 2,820 | 0.0% | 4 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $200.6K | 542 | 0.0% | 1 |
| PIEDMONT REALTY TRUST INC | [PDM](https://holderbook.com/stocks/PDM/) | $135.5K | 14,812 | 0.0% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | -0.5% | +14.8% | -15.3% | 101% |
| Q1 2026 | -3.6% | -4.6% | +1.0% | 100% |
| Q4 2025 | -2.8% | +2.4% | -5.2% | 100% |
| Q3 2025 | +1.7% | +7.8% | -6.1% | 100% |
| Q2 2025 | +3.0% | +10.5% | -7.5% | 99% |
| Q1 2025 | +2.8% | -4.6% | +7.4% | 100% |
| Q4 2024 | -1.6% | +2.1% | -3.8% | 100% |
| Q3 2024 | +8.9% | +5.4% | +3.5% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $3.0B | 79 |
| Q1 2026 | $3.2B | 70 |
| Q4 2025 | $3.7B | 72 |
| Q3 2025 | $4.0B | 69 |
| Q2 2025 | $3.5B | 66 |
| Q1 2025 | $3.3B | 69 |
| Q4 2024 | $3.4B | 69 |
| Q3 2024 | $3.6B | 68 |
| Q2 2024 | $3.5B | 58 |
| Q1 2024 | $3.7B | 61 |
| Q4 2023 | $3.6B | 60 |
| Q3 2023 | $3.3B | 49 |