Hendershot Investments Inc.
Long book
$744.0M
Q1 2026
Positions
129
Top-10 weight
50%
concentration
Last quarter
+7.6%
SPY +14.8%
Turnover
7%
of book per quarter
Strategy in plain words
auto-generated from filingsHendershot Investments Inc. is a diversified fundamental manager, running a $744.0M US long book across 129 positions.
The portfolio is concentrated: the top 10 names carry 50% of the portfolio. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: BERKSHIRE HATHAWAY INC-CL B, APPLE INC, TJX COMPANIES INC, JOHNSON & JOHNSON, ALPHABET INC-CL A.
Over the last 9 quarters its long book ran on average 2pp per quarter behind the S&P 500, beating the index in 2 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-0.2%
Q2 2024
+8.9%
Q3 2024
+0.3%
Q4 2024
+0.2%
Q1 2025
+2.6%
Q2 2025
+6.5%
Q3 2025
+2.4%
Q4 2025
-6.0%
Q1 2026
+7.6%
Sector allocation
Technology 25%
Financials 18%
Consumer discretionary 16%
Services media 13%
Industrials 12%
Healthcare 9%
Consumer staples 3%
Other 2%
Long book by quarter
What does Hendershot Investments own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 212.5K | $101.8M | 13.7% | +1.0% |
| AAPL APPLE INC | Technology | 177.3K | $45.0M | 6.0% | -0.4% |
| TJX TJX COMPANIES INC | Consumer discretionary | 241.1K | $38.5M | 5.2% | -1.3% |
| JNJ JOHNSON & JOHNSON | Healthcare | 156.7K | $38.3M | 5.1% | -1.2% |
| GOOGL ALPHABET INC-CL A | Technology | 101.0K | $29.1M | 3.9% | -37.2% |
| BKNG BOOKING HOLDINGS INC | Industrials | 6.9K | $29.0M | 3.9% | +6.2% |
| MSFT MICROSOFT CORP | Technology | 71.1K | $26.3M | 3.5% | +10.5% |
| V VISA INC-CLASS A SHARES | Services media | 76.1K | $23.0M | 3.1% | +0.3% |
| GD GENERAL DYNAMICS CORP | Industrials | 66.6K | $22.9M | 3.1% | +1.4% |
| NVDA NVIDIA CORP | Technology | 123.0K | $21.4M | 2.9% | +17.0% |
| PEP PEPSICO INC | Consumer staples | 126.4K | $19.6M | 2.6% | +2.3% |
| MA MASTERCARD INC - A | Services media | 37.5K | $18.7M | 2.5% | +4.2% |
| ADP AUTOMATIC DATA PROCESSING | Technology | 84.8K | $17.2M | 2.3% | +6.1% |
| CTSH COGNIZANT TECH SOLUTIONS-A | Technology | 272.3K | $16.7M | 2.2% | +16.1% |
| AMZN AMAZON.COM INC | Consumer discretionary | 80.1K | $16.7M | 2.2% | +5.6% |
| ROST ROSS STORES INC | Consumer discretionary | 74.4K | $16.1M | 2.2% | -0.5% |
| CPAY CORPAY INC | Services media | 53.3K | $15.5M | 2.1% | +21.6% |
| GPC GENUINE PARTS CO | Consumer discretionary | 124.6K | $13.2M | 1.8% | -0.8% |
| PG PROCTER & GAMBLE CO/THE | Other | 90.7K | $13.1M | 1.8% | +7.9% |
| RMD RESMED INC | Healthcare | 56.7K | $12.7M | 1.7% | +2.8% |
| RTX RTX CORP | Industrials | 65.3K | $12.6M | 1.7% | -19.9% |
| TXRH TEXAS ROADHOUSE INC | Consumer discretionary | 72.9K | $12.0M | 1.6% | +1.2% |
| BR BROADRIDGE FINANCIAL SOLUTIO | Services media | 72.2K | $11.7M | 1.6% | New |
| CNI CANADIAN NATL RAILWAY CO | Industrials | 106.3K | $10.9M | 1.5% | +2.9% |
| GNTX GENTEX CORP | Industrials | 441.9K | $9.7M | 1.3% | -0.2% |
| TSCO TRACTOR SUPPLY COMPANY | Consumer discretionary | 190.1K | $8.6M | 1.2% | +10.4% |
| FAST FASTENAL CO | Consumer discretionary | 184.2K | $8.5M | 1.1% | -0.4% |
| ACN ACCENTURE PLC-CL A | Services media | 42.1K | $8.3M | 1.1% | +13.3% |
| KNSL KINSALE CAPITAL GROUP INC | Financials | 23.0K | $7.9M | 1.1% | +6.7% |
| META META PLATFORMS INC-CLASS A | Technology | 12.6K | $7.2M | 1.0% | +49.6% |
| AXP AMERICAN EXPRESS CO | Financials | 23.9K | $7.2M | 1.0% | Held |
| PAYX PAYCHEX INC | Services media | 76.7K | $7.1M | 0.9% | +6.7% |
| ADBE ADOBE INC | Technology | 28.6K | $7.0M | 0.9% | +28.4% |
| GOOG ALPHABET INC-CL C | Technology | 19.6K | $5.6M | 0.8% | -40.1% |
| FDS FACTSET RESEARCH SYSTEMS INC | Technology | 22.9K | $5.0M | 0.7% | +50.1% |
| SYK STRYKER CORP | Healthcare | 14.4K | $4.7M | 0.6% | +1.3% |
| VSEC VSE CORP | Services media | 24.1K | $4.4M | 0.6% | Held |
| BRK/A BERKSHIRE HATHAWAY INC-CL A | Financials | 4 | $2.9M | 0.4% | Held |
| ERIE ERIE INDEMNITY COMPANY-CL A | Financials | 10.7K | $2.7M | 0.4% | +11.2% |
| CVX CHEVRON CORP | Energy | 12.7K | $2.6M | 0.4% | -0.2% |
| LLY ELI LILLY & CO | Healthcare | 2.5K | $2.3M | 0.3% | -0.1% |
| JPM JPMORGAN CHASE & CO | Financials | 7.3K | $2.1M | 0.3% | -0.7% |
| MRK MERCK & CO. INC. | Healthcare | 13.5K | $1.6M | 0.2% | -2.9% |
| CEG CONSTELLATION ENERGY | Utilities | 5.7K | $1.6M | 0.2% | Held |
| ABBV ABBVIE INC | Healthcare | 7.1K | $1.6M | 0.2% | -7.2% |
| WMT WALMART INC | Consumer discretionary | 11.6K | $1.4M | 0.2% | Held |
| DIS WALT DISNEY CO/THE | Services media | 14.8K | $1.4M | 0.2% | -0.3% |
| XOM EXXON MOBIL CORP | Energy | 8.0K | $1.4M | 0.2% | -1.4% |
| TPL TEXAS PACIFIC LAND CORP | Financials | 2.8K | $1.3M | 0.2% | -17.1% |
| BN BROOKFIELD CORP | Real estate | 32.4K | $1.3M | 0.2% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 27, 2026 | 129 | $744.0M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 26, 2026 | 124 | $784.5M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 12, 2025 | 128 | $794.4M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 13, 2025 | 129 | $748.4M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 6, 2025 | 129 | $734.7M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 28, 2025 | 131 | $733.7M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 15, 2024 | 130 | $736.2M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 5, 2024 | 131 | $695.9M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 22, 2024 | 131 | $699.4M | canonical | SEC ↗ |
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