Scharf Investments, LLC

CIK

1463746

Location

LOS GATOS, CA

Portfolio Value

Mid $2,829,213,268

Diversification

Diversified

Filing Date

Global Rank

#786 / 8,232 ▼ 31

Top Industry

Oil & Gas E&P 8.4%

3Y Alpha vs SPY

-13.2%

Period ended 2 months ago

Filed Apr 13, 2026 · 2mo

25 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+24.9%

SPY

+76.5%

Annualised alpha

-13.2%

Max drawdown

−12.3%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

62 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

8.2%

+1.6 pts

Top 5

29.5%

+3.2 pts

Top 10

49.5%

+1.9 pts

HHI

401

Diversified+36

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	28.2%	$797,515,171	10
Healthcare	23.3%	$658,936,663	14
Industrials	11.7%	$329,969,015	9
Energy	8.4%	$238,967,903	3
Technology	7.8%	$219,816,636	11
Communication Services	6.6%	$185,926,210	4
Basic Materials	4.9%	$138,567,735	2
Consumer Cyclical	4.0%	$112,338,639	5
Consumer Defensive	3.1%	$86,922,135	1
Unclassified	2.0%	$55,374,879	2
Utilities	0.2%	$4,878,282	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

13 positions

Ticker	Company	Δ Shares	Shares	Value
OXY	Occidental Petroleum Corp /De/	+644,140	3,583,864	$232,951,160
A	Agilent Technologies, Inc.	+228,579	759,802	$86,602,231
ADBE	Adobe Inc.	+102,891	325,802	$79,195,950
MRSH	Marsh & Mclennan Companies, Inc.	+91,579	449,343	$77,938,543
SLB	Slb Limited/Nv	+75,514	95,809	$4,923,624
HLN	Haleon plc	+55,016	1,150,750	$11,519,007
META	Meta Platforms, Inc.	+50,427	203,367	$116,352,361
AON	Aon plc	+46,830	254,941	$82,289,855
CNI	Canadian National Railway Co	+30,927	114,717	$11,789,466
OTIS	Otis Worldwide Corp	+21,529	1,166,569	$89,919,138
ZTS	Zoetis Inc.	+18,439	837,314	$98,978,887
SPY	Spdr S&P 500 ETF Trust	+14,006	84,290	$54,817,158
CP	Canadian Pacific Kansas City Ltd/Cn	+138	58,242	$4,581,315
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
SNN	Smith & Nephew PLC	−1,675,012	17,637	$560,503
BN	BROOKFIELD Corp /ON/	−759,145	2,756,660	$111,562,030
ORCL	Oracle Corp	−500,656	10,938	$1,609,089
CNC	Centene Corp	−404,219	1,719,026	$56,280,911
NVS	Novartis AG	−373,668	589,232	$90,005,188
DCI	DONALDSON Co INC	−246,803	26,767	$2,271,715
FNV	FRANCO NEVADA Corp	−135,074	557,135	$137,640,201
DIS	Walt Disney Co	−130,042	672,472	$64,812,851
UHAL	U-Haul Holding Co /NV/	−109,248	322,002	$15,385,255
HSY	Hershey Co	−77,660	418,116	$86,922,135
BRK-B	Berkshire Hathaway Inc	−77,271	231,257	$110,818,354
QNCX	Quince Therapeutics, Inc.	−71,600	19,461	$1,965
CME	Cme Group Inc.	−65,554	325,461	$96,124,906
LMT	Lockheed Martin Corp	−59,105	96,073	$58,065,560
UNP	Union Pacific Corp	−56,097	599,899	$145,547,495
MCK	Mckesson Corp	−44,149	221,582	$191,748,199
CB	Chubb Ltd	−43,007	270,629	$88,206,109
V	Visa Inc.	−37,712	365,861	$110,577,828
MSFT	Microsoft Corp	−34,619	343,477	$127,144,881
NVDA	Nvidia Corp	−9,918	23,967	$4,179,844
MKL	Markel Group Inc.	−8,061	61,142	$117,030,061
TMO	Thermo Fisher Scientific Inc.	−7,609	132,395	$65,076,114
CVS	CVS HEALTH Corp	−7,328	96,169	$6,906,857
CMCSA	Comcast Corp	−5,463	80,384	$2,307,824
UNH	Unitedhealth Group Inc	−4,370	174,602	$47,245,555
No positions match the current search.

New Positions

Positions the filer opened this quarter

8 positions

Ticker	Company	Shares	Value
AWK	American Water Works Company, Inc.	35,846	$4,878,282
AMZN	Amazon Com Inc	17,471	$3,638,685
SPGI	S&P Global Inc.	3,106	$1,321,106
ABNB	Airbnb, Inc.	9,742	$1,230,219
XOM	Exxon Mobil Corp	6,443	$1,093,119
NOW	ServiceNow, Inc.	7,842	$819,881
MELI	Mercadolibre Inc	453	$783,246
TJX	Tjx Companies Inc /De/	4,753	$759,054
No positions match the current search.

Sold Out

Positions the filer fully exited

5 positions

Ticker	Company	Shares	Value
CRM	Salesforce, Inc.	8,040	$2,129,876
IFF	International Flavors & Fragrances Inc	10,669	$718,983
CARG	CarGurus, Inc.	11,868	$455,137
MLKN	Millerknoll, Inc.	12,848	$234,861
PDM	Piedmont Realty Trust, Inc.	14,812	$123,532
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

62 positions · $2,829,213,268 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Technology Utilities

Showing 1–50 of 62 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
OXY	Occidental Petroleum Corp /De/ Energy	Added	3,583,864	+644,140	$232,951,160	+92.7%	8.23%
MCK	Mckesson Corp Healthcare	Reduced	221,582	-44,149	$191,748,199	−12.0%	6.78%
UNP	Union Pacific Corp Industrials	Reduced	599,899	-56,097	$145,547,495	−4.1%	5.14%
FNV	FRANCO NEVADA Corp Basic Materials	Reduced	557,135	-135,074	$137,640,201	−4.1%	4.86%
MSFT	Microsoft Corp Technology	Reduced	343,477	-34,619	$127,144,881	−30.5%	4.49%
MKL	Markel Group Inc. Financial Services	Reduced	61,142	-8,061	$117,030,061	−21.3%	4.14%
META	Meta Platforms, Inc. Communication Services	Added	203,367	+50,427	$116,352,361	+15.3%	4.11%
BN	BROOKFIELD Corp /ON/ Financial Services	Reduced	2,756,660	-759,145	$111,562,030	−30.9%	3.94%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	231,257	-77,271	$110,818,354	−28.5%	3.92%
V	Visa Inc. Financial Services	Reduced	365,861	-37,712	$110,577,828	−21.9%	3.91%
BKNG	Booking Holdings Inc. Consumer Cyclical	Reduced	25,159	-690	$105,927,435	−23.5%	3.74%
ZTS	Zoetis Inc. Healthcare	Added	837,314	+18,439	$98,978,887	−3.9%	3.50%
CME	Cme Group Inc. Financial Services	Reduced	325,461	-65,554	$96,124,906	−10.0%	3.40%
NVS	Novartis AG Healthcare	Reduced	589,232	-373,668	$90,005,188	−32.2%	3.18%
OTIS	Otis Worldwide Corp Industrials	Added	1,166,569	+21,529	$89,919,138	−10.1%	3.18%
CB	Chubb Ltd Financial Services	Reduced	270,629	-43,007	$88,206,109	−9.9%	3.12%
HSY	Hershey Co Consumer Defensive	Reduced	418,116	-77,660	$86,922,135	−3.7%	3.07%
A	Agilent Technologies, Inc. Healthcare	Added	759,802	+228,579	$86,602,231	+19.8%	3.06%
AON	Aon plc Financial Services	Added	254,941	+46,830	$82,289,855	+12.1%	2.91%
ADBE	Adobe Inc. Technology	Added	325,802	+102,891	$79,195,950	+1.5%	2.80%
MRSH	Marsh & Mclennan Companies, Inc. Financial Services	Added	449,343	+91,579	$77,938,543	+17.4%	2.75%
TMO	Thermo Fisher Scientific Inc. Healthcare	Reduced	132,395	-7,609	$65,076,114	−19.8%	2.30%
DIS	Walt Disney Co Communication Services	Reduced	672,472	-130,042	$64,812,851	−29.0%	2.29%
LMT	Lockheed Martin Corp Industrials	Reduced	96,073	-59,105	$58,065,560	−22.6%	2.05%
CNC	Centene Corp Healthcare	Reduced	1,719,026	-404,219	$56,280,911	−35.6%	1.99%
SPY	Spdr S&P 500 ETF Trust	Added	84,290	+14,006	$54,817,158	+14.4%	1.94%
UNH	Unitedhealth Group Inc Healthcare	Reduced	174,602	-4,370	$47,245,555	−20.0%	1.67%
UHAL	U-Haul Holding Co /NV/ Industrials	Reduced	322,002	-109,248	$15,385,255	−29.2%	0.54%
CNI	Canadian National Railway Co Industrials	Added	114,717	+30,927	$11,789,466	+42.3%	0.42%
HLN	Haleon plc Healthcare	Added	1,150,750	+55,016	$11,519,007	+4.0%	0.41%
CVS	CVS HEALTH Corp Healthcare	Reduced	96,169	-7,328	$6,906,857	−15.9%	0.24%
SLB	Slb Limited/Nv Energy	Added	95,809	+75,514	$4,923,624	+532.1%	0.17%
AWK	American Water Works Company, Inc. Utilities	NEW	35,846	NEW	$4,878,282	NEW	0.17%
CP	Canadian Pacific Kansas City Ltd/Cn Industrials	Added	58,242	+138	$4,581,315	+7.1%	0.16%
NVDA	Nvidia Corp Technology	Reduced	23,967	-9,918	$4,179,844	−33.9%	0.15%
AMZN	Amazon Com Inc Consumer Cyclical	NEW	17,471	NEW	$3,638,685	NEW	0.13%
AAPL	Apple Inc. Technology	Reduced	9,838	-2,399	$2,496,786	−24.9%	0.09%
GOOGL	Alphabet Inc. Communication Services	Reduced	8,531	-3,504	$2,453,174	−34.9%	0.09%
CMCSA	Comcast Corp Communication Services	Reduced	80,384	-5,463	$2,307,824	−4.0%	0.08%
DCI	DONALDSON Co INC Industrials	Reduced	26,767	-246,803	$2,271,715	−90.6%	0.08%
SYK	Stryker Corp Healthcare	Reduced	5,505	-2,296	$1,808,887	−34.0%	0.06%
MA	Mastercard Inc Financial Services	Reduced	3,295	-1,432	$1,646,379	−39.0%	0.06%
ORCL	Oracle Corp Technology	Reduced	10,938	-500,656	$1,609,089	−98.4%	0.06%
GWW	W.W. Grainger, Inc. Industrials	Reduced	1,456	-475	$1,588,219	−18.5%	0.06%
INTU	Intuit Inc. Technology	Reduced	3,286	-1,846	$1,420,800	−58.2%	0.05%
SPGI	S&P Global Inc. Financial Services	NEW	3,106	NEW	$1,321,106	NEW	0.05%
LLY	ELI LILLY & Co Healthcare	Reduced	1,339	-724	$1,231,572	−44.5%	0.04%
ABNB	Airbnb, Inc. Consumer Cyclical	NEW	9,742	NEW	$1,230,219	NEW	0.04%
AVGO	Broadcom Inc. Technology	Reduced	3,860	-2,906	$1,194,708	−49.0%	0.04%
XOM	Exxon Mobil Corp Energy	NEW	6,443	NEW	$1,093,119	NEW	0.04%