Saratoga Research & Investment Management Long-Term Concentrated

CIK: 0001477872 · Show all filings

Period: Q2 2025 (← Previous) (Next →)

Filing Date: Aug 20, 2025

Total Value ($000): $1,867,957 (100.0% shares, 0.0% debt)

Holdings (44)

MSFT Microsoft Corp. 8.5%

Value ($000) $158,216 Shares 318,079 Est. Cost $79.61 Unrealized +443.2%

DIS Walt Disney Company 8.3%

Value ($000) $155,466 Shares 1,253,656 Est. Cost $106.40 Unrealized -3.4%

GOOGL Alphabet Inc. 7.8%

Value ($000) $146,526 Shares 831,445 Est. Cost $112.76 Unrealized +44.8%

— Unilever PLC 7.1%

Value ($000) $131,950 Shares 2,157,095 Est. Cost $53.17 Unrealized —

BRK/B Berkshire Hathaway Inc. 6.7%

Value ($000) $125,457 Shares 258,265 Est. Cost $199.74 Unrealized +154.3%

NVO Novo Nordisk A/S 5.6%

Value ($000) $104,405 Shares 1,512,677 Est. Cost $70.62 Unrealized —

MDT Medtronic PLC 5.5%

Value ($000) $102,948 Shares 1,181,002 Est. Cost $78.70 Unrealized +6.1%

ORCL Oracle Corp. 5.3%

Value ($000) $98,585 Shares 450,920 Est. Cost $40.01 Unrealized +301.9%

RHHBY Roche Holding AG 4.3%

Value ($000) $80,629 Shares 1,978,134 Est. Cost $39.07 Unrealized —

JNJ Johnson & Johnson 4.1%

Value ($000) $76,591 Shares 501,415 Est. Cost $110.94 Unrealized +36.0%

RTX RTX Corp. 3.3%

Value ($000) $61,061 Shares 418,167 Est. Cost $63.05 Unrealized +109.0%

ASML ASML Holding N.V. 3.2%

Value ($000) $60,111 Shares 75,008 Est. Cost $685.67 Unrealized —

GD General Dynamics Corporation 3.2%

Value ($000) $60,108 Shares 206,088 Est. Cost $138.74 Unrealized +96.4%

SBUX Starbucks Corp. 2.5%

Value ($000) $46,775 Shares 510,482 Est. Cost $69.46 Unrealized +22.6%

ACN Accenture PLC 2.4%

Value ($000) $44,700 Shares 149,552 Est. Cost $224.49 Unrealized +34.9%

V Visa Inc 2.3%

Value ($000) $43,189 Shares 121,642 Est. Cost $214.66 Unrealized +61.6%

CHRW C.H. Robinson Worldwide Inc 2.3%

Value ($000) $42,536 Shares 443,311 Est. Cost $62.33 Unrealized +48.3%

HD Home Depot Inc. 2.0%

Value ($000) $36,519 Shares 99,605 Est. Cost $273.03 Unrealized +30.4%

DEO Diageo PLC 1.8%

Value ($000) $34,395 Shares 341,086 Est. Cost $145.31 Unrealized —

PG The Procter & Gamble Co. 1.8%

Value ($000) $33,241 Shares 208,643 Est. Cost $84.75 Unrealized +89.7%

LLY Eli Lilly & Co. 1.6%

Value ($000) $29,024 Shares 37,233 Est. Cost $812.42 Unrealized -4.8%

AAPL Apple Inc. 1.5%

Value ($000) $27,417 Shares 133,633 Est. Cost $85.07 Unrealized +136.8%

BIL SPDR Bloomberg 1-3 Month T-Bill ETF 1.2%

Value ($000) $22,922 Shares 249,882 Est. Cost $91.79 Unrealized —

PEP Pepsico Inc 1.2%

Value ($000) $22,108 Shares 167,435 Est. Cost $127.71 Unrealized +2.6%

NKE Nike, Inc. 1.0%

Value ($000) $18,151 Shares 255,501 Est. Cost $77.74 Unrealized -24.0%

CL Colgate-Palmolive Co. 1.0%

Value ($000) $17,789 Shares 195,696 Est. Cost $76.18 Unrealized +18.2%

WMT Walmart Inc 0.9%

Value ($000) $17,102 Shares 174,900 Est. Cost $45.77 Unrealized +107.0%

ADBE Adobe Inc 0.9%

Value ($000) $16,881 Shares 43,634 Est. Cost $474.93 Unrealized -18.9%

NVDA NVIDIA Corp. 0.9%

Value ($000) $16,140 Shares 102,161 Est. Cost $126.66 Unrealized -0.7%

ZTS Zoetis Inc. 0.8%

Value ($000) $15,376 Shares 98,597 Est. Cost $157.38 Unrealized 0.0%

HON Honeywell International Inc. 0.7%

Value ($000) $13,490 Shares 57,925 Est. Cost $199.24 Unrealized +0.2%

CSCO Cisco Systems, Inc. 0.1%

Value ($000) $1,160 Shares 16,723 Est. Cost $18.69 Unrealized +223.1%

JQUA JPMorgan US Quality Factor ETF 0.1%

Value ($000) $1,104 Shares 18,382 Est. Cost $59.19 Unrealized —

GOOG Alphabet Inc. 0.0%

Value ($000) $875 Shares 4,934 Est. Cost $108.47 Unrealized +52.0%

IBM International Business Machines Corp. 0.0%

Value ($000) $807 Shares 2,738 Est. Cost $105.47 Unrealized +140.6%

KO Coca-Cola Co (The) 0.0%

Value ($000) $700 Shares 9,895 Est. Cost $27.94 Unrealized +149.8%

AMGN Amgen Inc. 0.0%

Value ($000) $658 Shares 2,358 Est. Cost $172.97 Unrealized +60.6%

CTSH Cognizant Technology Solutions Corp. 0.0%

Value ($000) $580 Shares 7,428 Est. Cost $50.97 Unrealized +48.8%

PAYX Paychex Inc 0.0%

Value ($000) $565 Shares 3,882 Est. Cost $27.96 Unrealized +427.5%

SYY Sysco Corporation 0.0%

Value ($000) $558 Shares 7,372 Est. Cost $65.68 Unrealized +8.2%

AMZN Amazon.com, Inc. 0.0%

Value ($000) $439 Shares 2,000 Est. Cost $126.86 Unrealized +56.0%

LMT Lockheed Martin Corporation 0.0%

Value ($000) $322 Shares 695 Est. Cost $308.96 Unrealized +48.6%

TROW Price T Rowe Group Inc. 0.0%

Value ($000) $288 Shares 2,986 Est. Cost $108.11 Unrealized -18.0%

UBFO United Security Bs 0.0%

Value ($000) $95 Shares 11,000 Est. Cost $5.29 Unrealized +55.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MSFT	Microsoft Corp.	318,079	$158,216	8.5%	$79.61	+443.2%	COM	594918104
DIS	Walt Disney Company	1,253,656	$155,466	8.3%	$106.40	-3.4%	COM	254687106
GOOGL	Alphabet Inc.	831,445	$146,526	7.8%	$112.76	+44.8%	COM	02079K305
—	Unilever PLC	2,157,095	$131,950	7.1%	$53.17	—	COM	904767704
BRK/B	Berkshire Hathaway Inc.	258,265	$125,457	6.7%	$199.74	+154.3%	COM	084670702
NVO	Novo Nordisk A/S	1,512,677	$104,405	5.6%	$70.62	—	COM	670100205
MDT	Medtronic PLC	1,181,002	$102,948	5.5%	$78.70	+6.1%	COM	G5960L103
ORCL	Oracle Corp.	450,920	$98,585	5.3%	$40.01	+301.9%	COM	68389X105
RHHBY	Roche Holding AG	1,978,134	$80,629	4.3%	$39.07	—	COM	771195104
JNJ	Johnson & Johnson	501,415	$76,591	4.1%	$110.94	+36.0%	COM	478160104
RTX	RTX Corp.	418,167	$61,061	3.3%	$63.05	+109.0%	COM	75513E101
ASML	ASML Holding N.V.	75,008	$60,111	3.2%	$685.67	—	COM	N07059210
GD	General Dynamics Corporation	206,088	$60,108	3.2%	$138.74	+96.4%	COM	369550108
SBUX	Starbucks Corp.	510,482	$46,775	2.5%	$69.46	+22.6%	COM	855244109
ACN	Accenture PLC	149,552	$44,700	2.4%	$224.49	+34.9%	COM	G1151C101
V	Visa Inc	121,642	$43,189	2.3%	$214.66	+61.6%	COM	92826C839
CHRW	C.H. Robinson Worldwide Inc	443,311	$42,536	2.3%	$62.33	+48.3%	COM	12541W209
HD	Home Depot Inc.	99,605	$36,519	2.0%	$273.03	+30.4%	COM	437076102
DEO	Diageo PLC	341,086	$34,395	1.8%	$145.31	—	COM	25243Q205
PG	The Procter & Gamble Co.	208,643	$33,241	1.8%	$84.75	+89.7%	COM	742718109
LLY	Eli Lilly & Co.	37,233	$29,024	1.6%	$812.42	-4.8%	COM	532457108
AAPL	Apple Inc.	133,633	$27,417	1.5%	$85.07	+136.8%	COM	037833100
BIL	SPDR Bloomberg 1-3 Month T-Bill ETF	249,882	$22,922	1.2%	$91.79	—	ETF	78468R663
PEP	Pepsico Inc	167,435	$22,108	1.2%	$127.71	+2.6%	COM	713448108
NKE	Nike, Inc.	255,501	$18,151	1.0%	$77.74	-24.0%	COM	654106103
CL	Colgate-Palmolive Co.	195,696	$17,789	1.0%	$76.18	+18.2%	COM	194162103
WMT	Walmart Inc	174,900	$17,102	0.9%	$45.77	+107.0%	COM	931142103
ADBE	Adobe Inc	43,634	$16,881	0.9%	$474.93	-18.9%	COM	00724F101
NVDA	NVIDIA Corp.	102,161	$16,140	0.9%	$126.66	-0.7%	COM	67066G104
ZTS	Zoetis Inc.	98,597	$15,376	0.8%	$157.38	0.0%	COM	98978V103
HON	Honeywell International Inc.	57,925	$13,490	0.7%	$199.24	+0.2%	COM	438516106
CSCO	Cisco Systems, Inc.	16,723	$1,160	0.1%	$18.69	+223.1%	COM	17275R102
JQUA	JPMorgan US Quality Factor ETF	18,382	$1,104	0.1%	$59.19	—	ETF	46641Q761
GOOG	Alphabet Inc.	4,934	$875	0.0%	$108.47	+52.0%	COM	02079K107
IBM	International Business Machines Corp.	2,738	$807	0.0%	$105.47	+140.6%	COM	459200101
KO	Coca-Cola Co (The)	9,895	$700	0.0%	$27.94	+149.8%	COM	191216100
AMGN	Amgen Inc.	2,358	$658	0.0%	$172.97	+60.6%	COM	031162100
CTSH	Cognizant Technology Solutions Corp.	7,428	$580	0.0%	$50.97	+48.8%	COM	192446102
PAYX	Paychex Inc	3,882	$565	0.0%	$27.96	+427.5%	COM	704326107
SYY	Sysco Corporation	7,372	$558	0.0%	$65.68	+8.2%	COM	871829107
AMZN	Amazon.com, Inc.	2,000	$439	0.0%	$126.86	+56.0%	COM	023135106
LMT	Lockheed Martin Corporation	695	$322	0.0%	$308.96	+48.6%	COM	539830109
TROW	Price T Rowe Group Inc.	2,986	$288	0.0%	$108.11	-18.0%	COM	74144T108
UBFO	United Security Bs	11,000	$95	0.0%	$5.29	+55.5%	COM	911460103