Saratoga Research & Investment Management

CIK

1477872

Location

SARATOGA, CA

Portfolio Value

Mid $1,743,895,137

Diversification

Diversified

Filing Date

Global Rank

#1,392 / 8,517 ▼ 54

Top Industry

Drug Manufacturers - General 16.7%

3Y Alpha vs SPY

-4.6%

Period ended 47 days ago

Filed Jul 23, 2026 · 24d

26 quarters · since Mar 2020

Clone Performance

Aug 2023–Aug 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+55.1%

SPY

+76.6%

Annualised alpha

-5.1%

Max drawdown

−15.7%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. Returns use comparable raw closes and exclude dividends; a captured split can shorten the simulated window. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

41 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

10.2%

−0.2 pts

Top 5

40.5%

+0.5 pts

Top 10

67.1%

+1.0 pts

HHI

566

Diversified+16

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Healthcare	23.0%	$401,336,597	8
Technology	20.2%	$351,837,001	9
Communication Services	16.2%	$282,437,067	2
Consumer Defensive	13.6%	$237,516,697	7
Industrials	11.4%	$198,696,958	7
Financial Services	10.4%	$181,141,982	4
Consumer Cyclical	5.2%	$90,928,835	4

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

5 positions

Ticker	Company	Δ Shares	Shares	Value
UL	Unilever PLC	+113,071	1,986,430	$119,424,171
NVDA	Nvidia Corp	+48,141	384,865	$77,007,637
MDT	Medtronic plc	+27,714	1,203,285	$94,132,985
LLY	ELI LILLY & Co	+7,337	53,862	$64,603,704
LOW	Lowes Companies Inc	+15	2,008	$442,743
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
NVO	Novo Nordisk A S	−200,320	3,236,009	$155,134,271
ACN	Accenture plc	−130,142	3,518	$437,779
GOOGL	Alphabet Inc.	−115,122	498,420	$178,120,355
HON	Honeywell International Inc	−90,156	75,789	$16,969,157
JNJ	Johnson & Johnson	−60,982	278,459	$70,720,232
DIS	Walt Disney Co	−44,618	1,083,810	$104,316,712
SBUX	Starbucks Corp	−41,913	587,872	$60,074,639
MSFT	Microsoft Corp	−34,642	334,179	$124,655,450
PG	PROCTER & GAMBLE Co	−21,584	338,641	$49,658,316
DEO	Diageo PLC	−17,103	361,038	$29,020,234
CHRW	C. H. Robinson Worldwide, Inc.	−16,732	235,112	$44,280,994
RTX	RTX Corp	−15,624	243,447	$46,189,199
CL	Colgate Palmolive Co	−14,492	175,603	$16,099,283
BRK-B	Berkshire Hathaway Inc	−14,136	257,895	$129,048,079
GD	General Dynamics Corp	−13,848	180,394	$63,902,770
AAPL	Apple Inc.	−11,583	100,400	$29,051,744
V	Visa Inc.	−8,594	147,779	$50,701,497
PEP	Pepsico Inc	−8,589	164,728	$22,304,171
CSCO	Cisco Systems, Inc.	−5,820	4,493	$527,747
ASML	Asml Holding NV	−4,775	59,510	$118,391,568
HD	Home Depot, Inc.	−3,930	84,878	$29,934,773
PAYX	Paychex Inc	−535	3,349	$329,307
AMGN	Amgen Inc	−125	2,181	$789,783
IBM	International Business Machines Corp	−109	2,624	$737,895
ZTS	Zoetis Inc.	−67	8,249	$592,773
No positions match the current search.

New Positions

Positions the filer opened this quarter

5 positions

Ticker	Company	Shares	Value
HONA	Honeywell Aerospace Inc.	75,656	$16,704,844
ISRG	Intuitive Surgical Inc	38,044	$15,129,337
EMR	Emerson Electric Co	71,924	$10,295,920
BCML	BayCom Corp	32,035	$1,053,951
MO	Altria Group, Inc.	2,920	$210,094
No positions match the current search.

Sold Out

Positions the filer fully exited

6 positions

Ticker	Company	Shares	Value
BIL	State Street SPDR Bloomberg 1-3 Month T-Bill ETF	215,077	$19,709,656
NKE	NIKE, Inc.	116,594	$6,158,495
ADBE	Adobe Inc.	2,221	$539,880
SYY	Sysco Corp	7,284	$519,567
EPD	Enterprise Products Partners L.P.	5,376	$203,427
UBFO	UNITED SECURITY BANCSHARES	11,000	$0
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

41 tracked positions · $1,743,895,137 total · as of Jun 30, 2026

All sectors Communication Services Consumer Cyclical Consumer Defensive Financial Services Healthcare Industrials Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
GOOGL	Alphabet Inc. Communication Services	Reduced	498,420	-115,122	$178,120,355	+1.0%	10.21%
NVO	Novo Nordisk A S Healthcare	Reduced	3,236,009	-200,320	$155,134,271	+22.8%	8.90%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	257,895	-14,136	$129,048,079	−1.0%	7.40%
MSFT	Microsoft Corp Technology	Reduced	334,179	-34,642	$124,655,450	−8.7%	7.15%
UL	Unilever PLC Consumer Defensive	Added	1,986,430	+113,071	$119,424,171	+11.9%	6.85%
ASML	Asml Holding NV Technology	Reduced	59,510	-4,775	$118,391,568	+39.4%	6.79%
DIS	Walt Disney Co Communication Services	Reduced	1,083,810	-44,618	$104,316,712	−4.1%	5.98%
MDT	Medtronic plc Healthcare	Added	1,203,285	+27,714	$94,132,985	−7.6%	5.40%
NVDA	Nvidia Corp Technology	Added	384,865	+48,141	$77,007,637	+31.1%	4.42%
JNJ	Johnson & Johnson Healthcare	Reduced	278,459	-60,982	$70,720,232	−14.8%	4.06%
LLY	ELI LILLY & Co Healthcare	Added	53,862	+7,337	$64,603,704	+51.0%	3.70%
GD	General Dynamics Corp Industrials	Reduced	180,394	-13,848	$63,902,770	−4.1%	3.66%
SBUX	Starbucks Corp Consumer Cyclical	Reduced	587,872	-41,913	$60,074,639	+6.5%	3.44%
V	Visa Inc. Financial Services	Reduced	147,779	-8,594	$50,701,497	+7.3%	2.91%
PG	PROCTER & GAMBLE Co Consumer Defensive	Reduced	338,641	-21,584	$49,658,316	−4.6%	2.85%
RTX	RTX Corp Industrials	Reduced	243,447	-15,624	$46,189,199	−7.6%	2.65%
CHRW	C. H. Robinson Worldwide, Inc. Industrials	Reduced	235,112	-16,732	$44,280,994	+5.9%	2.54%
HD	Home Depot, Inc. Consumer Cyclical	Reduced	84,878	-3,930	$29,934,773	+2.5%	1.72%
AAPL	Apple Inc. Technology	Reduced	100,400	-11,583	$29,051,744	+2.2%	1.67%
DEO	Diageo PLC Consumer Defensive	Reduced	361,038	-17,103	$29,020,234	+3.1%	1.66%
PEP	Pepsico Inc Consumer Defensive	Reduced	164,728	-8,589	$22,304,171	−17.1%	1.28%
HON	Honeywell International Inc Industrials	Reduced	75,789	-90,156	$16,969,157	−54.8%	0.97%
HONA	Honeywell Aerospace Inc. Industrials	NEW	75,656	NEW	$16,704,844	NEW	0.96%
CL	Colgate Palmolive Co Consumer Defensive	Reduced	175,603	-14,492	$16,099,283	−0.6%	0.92%
ISRG	Intuitive Surgical Inc Healthcare	NEW	38,044	NEW	$15,129,337	NEW	0.87%
EMR	Emerson Electric Co Industrials	NEW	71,924	NEW	$10,295,920	NEW	0.59%
BCML	BayCom Corp Financial Services	NEW	32,035	NEW	$1,053,951	NEW	0.06%
KO	Coca Cola Co Consumer Defensive	Held	9,849	0	$800,428	+6.9%	0.05%
AMGN	Amgen Inc Healthcare	Reduced	2,181	-125	$789,783	−2.7%	0.05%
IBM	International Business Machines Corp Technology	Reduced	2,624	-109	$737,895	+11.4%	0.04%
APH	Amphenol Corp /De/ Technology	Reduced	3,958	-44	$697,874	—	0.04%
ZTS	Zoetis Inc. Healthcare	Reduced	8,249	-67	$592,773	−39.7%	0.03%
CSCO	Cisco Systems, Inc. Technology	Reduced	4,493	-5,820	$527,747	−34.0%	0.03%
AMZN	Amazon Com Inc Consumer Cyclical	Held	2,000	0	$476,680	+14.4%	0.03%
LOW	Lowes Companies Inc Consumer Cyclical	Added	2,008	+15	$442,743	−6.0%	0.03%
ACN	Accenture plc Technology	Reduced	3,518	-130,142	$437,779	−98.3%	0.03%
LMT	Lockheed Martin Corp Industrials	Held	695	0	$354,074	−15.7%	0.02%
TROW	Price T Rowe Group Inc Financial Services	Held	2,977	0	$338,455	+26.1%	0.02%
PAYX	Paychex Inc Technology	Reduced	3,349	-535	$329,307	−8.0%	0.02%
NVS	Novartis AG Healthcare	Held	1,490	0	$233,512	+2.6%	0.01%
MO	Altria Group, Inc. Consumer Defensive	NEW	2,920	NEW	$210,094	NEW	0.01%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.