13F
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SCHARF INVESTMENTS, LLC

13F equity value
$3.2B
Positions
70
Top 10 concentration
47.5%
Quarters / total new picks
27 / 110
13F equity value over time
$0M$2B$4B2017201820192020202120222023202420252026

"13F equity value" = market value of this filer's US-listed long equity positions only. It excludes cash, bonds, non-US and short positions, so it understates a fund's true assets under management — often by a lot.

Not significant Verdict

13F holdings are disclosed ~45 days after quarter-end, and they never reveal when within the quarter a fund actually bought. So any 13F-based summary is structurally late and blurred — this applies to every fund, including this one.

We backtested copying it anyway. Buying this fund's new positions the day each filing went public, over 27 quarters, returned +1.2% per quarter — versus +5.0% per quarter from simply owning every 13F stock. It beat that baseline in only 33.3% of quarters (excess t = 0.20, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
+0.7%
t-stat
0.20
Quarterly win rate
33%
Annualized excess
-16.4%
$1 → follow vs universe
$1.29 vs $3.46
Cumulative return: $1 invested in new picks vs universe
1.00 20180331: universe 1.04120180630: universe 0.95920180930: universe 1.00320181231: universe 0.99220190331: universe 0.97520190630: universe 1.04820190930: universe 1.12720200331: universe 1.35820200630: universe 1.50120200930: universe 1.84020201231: universe 1.92420210331: universe 1.94220210630: universe 2.09720220331: universe 2.25120220630: universe 2.08620220930: universe 2.24020230630: universe 2.16020230930: universe 2.45220231231: universe 2.56220240331: universe 2.61920240630: universe 2.85720240930: universe 2.83320241231: universe 2.64420250331: universe 2.88220250630: universe 2.97320250930: universe 3.34320251231: universe 3.458 20180331: follow 0.93420180630: follow 0.85920180930: follow 0.90220181231: follow 0.89420190331: follow 0.90620190630: follow 0.97920190930: follow 1.03720200331: follow 1.15320200630: follow 1.21920200930: follow 1.21520201231: follow 1.25220210331: follow 1.35320210630: follow 1.25420220331: follow 1.40420220630: follow 1.29220220930: follow 1.41720230630: follow 1.10920230930: follow 1.25220231231: follow 1.25020240331: follow 1.29620240630: follow 1.40720240930: follow 1.39620241231: follow 1.29520250331: follow 1.32520250630: follow 1.35820250930: follow 1.33820251231: follow 1.286 0.79 2.26 3.73 20182019202020212022202320242025 Follow Universe

Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)

Listed as facts. See the verdict above before treating this as signal.

Top 20 holdings of 70 · 2026 Q1

Ticker Value Weight QoQ
KAT $244M
7.5%
TRIM
OXY $233M
7.2%
ADD
MCK $192M
5.9%
TRIM
UNP $146M
4.5%
TRIM
FNV $138M
4.2%
TRIM
MSFT $127M
3.9%
TRIM
MKL $117M
3.6%
TRIM
META $116M
3.6%
ADD
BN $112M
3.4%
TRIM
BRK/B $111M
3.4%
TRIM
V $111M
3.4%
TRIM
ZTS $99M
3.0%
ADD
CME $96M
3.0%
TRIM
NVS $90M
2.8%
TRIM
OTIS $90M
2.8%
HOLD
CB $88M
2.7%
TRIM
HSY $87M
2.7%
TRIM
A $87M
2.7%
ADD
AON $82M
2.5%
ADD
ADBE $79M
2.4%
ADD

QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.

Listed as facts. See the verdict above before treating this as signal.

New positions in 2026 Q1

ABNBAMZNAWKMELINOWSPGITJXXOM

Method & Limitations

Method: a "new position" = held this quarter, absent last quarter (options excluded; stocks with <50 prior holders excluded to filter spin-off artifacts). Entry 47 days after quarter-end — the first day the public could act on the filing. Benchmark = equal-weighted universe of all 13F-held stocks. Limitations: quarterly snapshots can't see intra-quarter trades; survivorship bias — funds that shut down are absent, which flatters the sample. Statistics, not advice.