Saratoga Research & Investment Management
Long book
$1.76B
Q1 2026
Positions
46
Top-10 weight
64%
concentration
Last quarter
+12.6%
SPY +14.8%
Turnover
10%
of book per quarter
Strategy in plain words
auto-generated from filingsSaratoga Research & Investment Management is a concentrated fundamental stock-picker, running a $1.76B US long book across 46 positions.
The portfolio is concentrated: the top 10 names carry 64% of the portfolio. Turnover is modest: positions are typically held for years. Current anchor positions: ALPHABET INC-CL A, MICROSOFT CORP, BERKSHIRE HATHAWAY INC-CL B, NOVO-NORDISK A/S-SPONS ADR, WALT DISNEY CO/THE.
Over the last 9 quarters its long book ran on average 1pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+1.2%
Q2 2024
+8.1%
Q3 2024
-2.5%
Q4 2024
-1.6%
Q1 2025
+7.9%
Q2 2025
+7.9%
Q3 2025
+4.2%
Q4 2025
-6.3%
Q1 2026
+12.6%
Sector allocation
Technology 28%
Industrials 20%
Healthcare 16%
Services media 13%
Financials 9%
Consumer discretionary 6%
Other 5%
Consumer staples 2%
Long book by quarter
What does Saratoga Research own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| GOOGL ALPHABET INC-CL A | Technology | 610.6K | $175.6M | 10.0% | -15.2% |
| MSFT MICROSOFT CORP | Technology | 368.8K | $136.5M | 7.7% | +23.5% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 272.0K | $130.4M | 7.4% | +3.3% |
| DIS WALT DISNEY CO/THE | Services media | 1.1M | $108.8M | 6.2% | +10.2% |
| MDT MEDTRONIC PLC | Healthcare | 1.2M | $101.9M | 5.8% | +1.8% |
| ASML ASML HOLDING NV-NY REG SHS | Industrials | 64.3K | $84.9M | 4.8% | -8.5% |
| JNJ JOHNSON & JOHNSON | Healthcare | 339.4K | $83.0M | 4.7% | -26.2% |
| GD GENERAL DYNAMICS CORP | Industrials | 194.2K | $66.7M | 3.8% | +2.9% |
| NVDA NVIDIA CORP | Technology | 336.7K | $58.7M | 3.3% | +199.9% |
| SBUX STARBUCKS CORP | Consumer discretionary | 629.8K | $56.4M | 3.2% | +6.1% |
| PG PROCTER & GAMBLE CO/THE | Other | 360.2K | $52.0M | 3.0% | +65.1% |
| RTX RTX CORP | Industrials | 259.1K | $50.0M | 2.8% | -17.2% |
| V VISA INC-CLASS A SHARES | Services media | 156.4K | $47.3M | 2.7% | +40.0% |
| LLY ELI LILLY & CO | Healthcare | 46.5K | $42.8M | 2.4% | -3.4% |
| CHRW C.H. ROBINSON WORLDWIDE INC | Industrials | 251.8K | $41.8M | 2.4% | -18.1% |
| HON HONEYWELL INTERNATIONAL INC | Industrials | 165.9K | $37.5M | 2.1% | +18.8% |
| HD HOME DEPOT INC | Consumer discretionary | 88.8K | $29.2M | 1.7% | -2.8% |
| AAPL APPLE INC | Technology | 112.0K | $28.4M | 1.6% | -3.1% |
| PEP PEPSICO INC | Consumer staples | 173.3K | $26.9M | 1.5% | +0.6% |
| ACN ACCENTURE PLC-CL A | Services media | 133.7K | $26.5M | 1.5% | -1.4% |
| CL COLGATE-PALMOLIVE CO | Other | 190.1K | $16.2M | 0.9% | +1.9% |
| NKE NIKE INC -CL B | Other | 116.6K | $6.2M | 0.3% | +4.3% |
| ZTS ZOETIS INC | Healthcare | 8.3K | $983K | 0.1% | +12.4% |
| GOOG ALPHABET INC-CL C | Technology | 2.9K | $836K | 0.0% | -31.3% |
| AMGN AMGEN INC | Healthcare | 2.3K | $811K | 0.0% | -2.2% |
| CSCO CISCO SYSTEMS INC | Technology | 10.3K | $800K | 0.0% | -3.9% |
| KO COCA-COLA CO/THE | Consumer staples | 9.8K | $749K | 0.0% | Held |
| IBM INTL BUSINESS MACHINES CORP | Technology | 2.7K | $662K | 0.0% | Held |
| ADBE ADOBE INC | Technology | 2.2K | $540K | 0.0% | -93.9% |
| SYY SYSCO CORP | Consumer discretionary | 7.3K | $520K | 0.0% | -0.2% |
| APH AMPHENOL CORP-CL A | Technology | 4.0K | $506K | 0.0% | -0.1% |
| LOW LOWE'S COS INC | Consumer discretionary | 2.0K | $471K | 0.0% | +0.1% |
| LMT LOCKHEED MARTIN CORP | Industrials | 695 | $420K | 0.0% | Held |
| AMZN AMAZON.COM INC | Consumer discretionary | 2.0K | $417K | 0.0% | Held |
| PAYX PAYCHEX INC | Services media | 3.9K | $358K | 0.0% | +0.1% |
| TROW T ROWE PRICE GROUP INC | Financials | 3.0K | $268K | 0.0% | Held |
| EPD ENTERPRISE PRODUCTS PARTNERS | Utilities | 5.4K | $203K | 0.0% | New |
| UBFO UNITED SECURITY BANCSHARE/CA | — | 11.0K | $116K | 0.0% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 8, 2026 | 46 | $1.76B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 5, 2026 | 47 | $1.91B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 17, 2025 | 43 | $1.92B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 20, 2025 | 44 | $1.87B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 12, 2025 | 44 | $1.89B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 12, 2025 | 44 | $1.98B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 22, 2024 | 41 | $2.28B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 16, 2024 | 42 | $2.20B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 17, 2024 | 45 | $2.20B | canonical | SEC ↗ |
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