Scharf Investments, LLC
Long book
$3.24B
Q1 2026
Positions
70
Top-10 weight
47%
concentration
Last quarter
+2.9%
SPY +14.8%
Turnover
23%
of book per quarter
Strategy in plain words
auto-generated from filingsScharf Investments, LLC is a diversified fundamental manager, running a $3.24B US long book across 70 positions.
The portfolio is moderately concentrated (top 10 ≈ 47% of the book). Turnover is modest: positions are typically held for years. Current anchor positions: SCHARF ETF, OCCIDENTAL PETROLEUM CORP, MCKESSON CORP, UNION PACIFIC CORP, FRANCO-NEVADA CORP.
Over the last 9 quarters its long book ran on average 3.2pp per quarter behind the S&P 500, beating the index in 3 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
-2.2%
Q2 2024
+9.0%
Q3 2024
-1.2%
Q4 2024
+3.5%
Q1 2025
+3.3%
Q2 2025
+2.0%
Q3 2025
-2.6%
Q4 2025
-3.2%
Q1 2026
+2.9%
Sector allocation
Financials 25%
Industrials 14%
Technology 13%
Energy 9%
Services media 9%
Consumer discretionary 7%
Healthcare 7%
Materials 5%
Long book by quarter
What does Scharf Investments, own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| OXY OCCIDENTAL PETROLEUM CORP | Energy | 3.6M | $233.0M | 7.2% | +21.9% |
| MCK MCKESSON CORP | Consumer discretionary | 221.6K | $191.8M | 5.9% | -16.6% |
| UNP UNION PACIFIC CORP | Industrials | 599.9K | $145.6M | 4.5% | -8.6% |
| FNV FRANCO-NEVADA CORP | Materials | 557.1K | $137.6M | 4.2% | -19.5% |
| MSFT MICROSOFT CORP | Technology | 343.5K | $127.1M | 3.9% | -9.2% |
| MKL MARKEL GROUP INC | Financials | 61.1K | $117.1M | 3.6% | -11.6% |
| META META PLATFORMS INC-CLASS A | Technology | 203.4K | $116.4M | 3.6% | +33.0% |
| BN BROOKFIELD CORP | Real estate | 2.8M | $111.6M | 3.4% | -21.6% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 231.3K | $110.8M | 3.4% | -25.0% |
| V VISA INC-CLASS A SHARES | Services media | 365.9K | $110.6M | 3.4% | -9.3% |
| ZTS ZOETIS INC | Healthcare | 837.3K | $99.0M | 3.1% | +2.3% |
| CME CME GROUP INC | Financials | 325.5K | $96.1M | 3.0% | -16.8% |
| OTIS OTIS WORLDWIDE CORP | Industrials | 1.2M | $89.9M | 2.8% | +1.9% |
| CB CHUBB LTD | Financials | 270.6K | $88.2M | 2.7% | -13.7% |
| HSY HERSHEY CO/THE | Consumer staples | 418.1K | $86.9M | 2.7% | -15.7% |
| A AGILENT TECHNOLOGIES INC | Healthcare | 759.8K | $86.6M | 2.7% | +43.0% |
| AON AON PLC-CLASS A | Financials | 254.9K | $82.3M | 2.5% | +22.5% |
| ADBE ADOBE INC | Technology | 325.8K | $79.2M | 2.4% | +46.2% |
| MRSH MARSH & MCLENNAN COS | Financials | 449.3K | $77.9M | 2.4% | +25.6% |
| TMO THERMO FISHER SCIENTIFIC INC | Other | 132.4K | $65.1M | 2.0% | -5.4% |
| DIS WALT DISNEY CO/THE | Services media | 672.5K | $64.8M | 2.0% | -16.2% |
| LMT LOCKHEED MARTIN CORP | Industrials | 96.1K | $58.1M | 1.8% | -38.1% |
| BKNG BOOKING HOLDINGS INC | Industrials | 25.2K | $57.4M | 1.8% | -2.7% |
| CNC CENTENE CORP | Financials | 1.7M | $56.3M | 1.7% | -19.0% |
| UNH UNITEDHEALTH GROUP INC | Financials | 174.6K | $47.2M | 1.5% | -2.4% |
| UHAL/B U-HAUL HOLDING CO-NON VOTING | Services media | 888.9K | $39.7M | 1.2% | +8.1% |
| UHAL U-HAUL HOLDING CO | Services media | 322.0K | $15.4M | 0.5% | -25.3% |
| CNI CANADIAN NATL RAILWAY CO | Industrials | 114.7K | $11.8M | 0.4% | +36.9% |
| CVS CVS HEALTH CORP | Healthcare | 96.2K | $6.9M | 0.2% | -7.1% |
| SLB SLB LTD | Energy | 95.8K | $4.9M | 0.2% | +372.1% |
| AWK AMERICAN WATER WORKS CO INC | Utilities | 35.8K | $4.9M | 0.2% | New |
| CP CANADIAN PACIFIC KANSAS CITY | Industrials | 58.2K | $4.6M | 0.1% | +0.2% |
| NVDA NVIDIA CORP | Technology | 24.0K | $4.2M | 0.1% | -29.3% |
| AMZN AMAZON.COM INC | Consumer discretionary | 17.5K | $3.6M | 0.1% | New |
| GOOG ALPHABET INC-CL C | Technology | 9.9K | $2.8M | 0.1% | -26.7% |
| AAPL APPLE INC | Technology | 9.8K | $2.5M | 0.1% | -19.6% |
| GOOGL ALPHABET INC-CL A | Technology | 8.5K | $2.5M | 0.1% | -29.1% |
| CMCSA COMCAST CORP-CLASS A | Communications | 80.4K | $2.3M | 0.1% | -6.4% |
| DCI DONALDSON CO INC | Industrials | 26.8K | $2.3M | 0.1% | -90.2% |
| SYK STRYKER CORP | Healthcare | 5.5K | $1.8M | 0.1% | -29.4% |
| MA MASTERCARD INC - A | Services media | 3.3K | $1.6M | 0.1% | -30.3% |
| ORCL ORACLE CORP | Technology | 10.9K | $1.6M | 0.0% | -97.9% |
| GWW WW GRAINGER INC | Consumer discretionary | 1.5K | $1.6M | 0.0% | -24.6% |
| INTU INTUIT INC | Technology | 3.3K | $1.4M | 0.0% | -36.0% |
| SPGI S&P GLOBAL INC | Services media | 3.1K | $1.3M | 0.0% | New |
| LLY ELI LILLY & CO | Healthcare | 1.3K | $1.2M | 0.0% | -35.1% |
| ABNB AIRBNB INC-CLASS A | Services media | 9.7K | $1.2M | 0.0% | New |
| AVGO BROADCOM INC | Technology | 3.9K | $1.2M | 0.0% | -43.0% |
| XOM EXXON MOBIL CORP | Energy | 6.4K | $1.1M | 0.0% | New |
| IMNM IMMUNOME INC | Healthcare | 44.4K | $971K | 0.0% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 13, 2026 | 70 | $3.24B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 15, 2026 | 72 | $3.72B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 13, 2025 | 69 | $3.98B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 14, 2025 | 66 | $3.47B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 23, 2025 | 69 | $3.31B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 24, 2025 | 69 | $3.37B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 16, 2024 | 68 | $3.63B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 23, 2024 | 58 | $3.51B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 16, 2024 | 61 | $3.69B | canonical | SEC ↗ |
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