13F
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SCHWARTZ INVESTMENT COUNSEL INC

13F equity value
$2.8B
Positions
129
Top 10 concentration
32.9%
Quarters / total new picks
32 / 154
13F equity value over time
$0M$2B$3B2017201820192020202120222023202420252026

"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 32 quarters, returned +1.0% per quarter — versus +2.7% per quarter from simply owning every 13F stock. It beat that baseline in only 34.4% of quarters (excess t = 0.37, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
+1.1%
t-stat
0.37
Quarterly win rate
34%
Annualized excess
-8.2%
$1 → follow vs universe
$1.12 vs $2.09
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 1.12720191231: universe 0.90920200331: universe 1.09620200630: universe 1.21120200930: universe 1.48520201231: universe 1.55320210331: universe 1.56620210630: universe 1.69220210930: universe 1.51920211231: universe 1.29220220331: universe 1.38720220630: universe 1.28520220930: universe 1.38120221231: universe 1.28220230331: universe 1.35120230630: universe 1.30320230930: universe 1.47920231231: universe 1.54520240331: universe 1.58020240630: universe 1.72320240930: universe 1.70820241231: universe 1.59420250331: universe 1.73820250630: universe 1.79320250930: universe 2.01620251231: universe 2.085 20180331: follow 1.03520180630: follow 0.97520180930: follow 0.90520181231: follow 0.96520190331: follow 0.92120190630: follow 0.97420190930: follow 0.89020191231: follow 0.77420200331: follow 0.92420200630: follow 0.99020200930: follow 0.96420201231: follow 1.09220210331: follow 1.11620210630: follow 1.15420210930: follow 0.98920211231: follow 0.75920220331: follow 0.81020220630: follow 0.72820220930: follow 0.87220221231: follow 0.73220230331: follow 0.78420230630: follow 0.75520230930: follow 0.87320231231: follow 0.93620240331: follow 0.93020240630: follow 1.07720240930: follow 0.96620241231: follow 1.17720250331: follow 1.25220250630: follow 1.11020250930: follow 1.22720251231: follow 1.123 0.67 1.46 2.25 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 129 · 2026 Q1

Ticker Value Weight QoQ
TPL $195M
6.9%
TRIM
NVDA $96M
3.4%
HOLD
TXN $95M
3.4%
HOLD
HEI/A $94M
3.3%
TRIM
MA $92M
3.3%
TRIM
SPGI $76M
2.7%
ADD
ROP $75M
2.7%
ADD
APG $75M
2.7%
TRIM
MCO $67M
2.4%
ADD
LOW $63M
2.3%
HOLD
ORLY $61M
2.2%
HOLD
VRSN $61M
2.2%
ADD
ACN $60M
2.1%
ADD
CVX $52M
1.8%
TRIM
BR $51M
1.8%
ADD
ATR $49M
1.7%
HOLD
TSM $49M
1.7%
HOLD
FANG $47M
1.7%
TRIM
TSEM $46M
1.6%
HOLD
EXE $45M
1.6%
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

DPZGDXJINTCNOCPRUSLM

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.