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Saratoga Research & Investment Management

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13F filer, CIK 1477872, SARATOGA, CA

Saratoga Research & Investment Management reported $1,867,957,114 across 44 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-20. Its ten largest share positions make up 63.21% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001477872-25-000005

Period
2025-06-30
Reported value
$1.87B
Holdings
44
Top 10 weight
63.21%
New
1
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ZTSnew+98,597$15.4M
PGadded+45,130$7.19M
LLYadded+6,797$5.3M
NVOadded+58,517$4.04M
NVDAadded+5,896$932K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
ORCLreduced-140,807-$30.8M
RTXreduced-207,107-$30.2M
NKEreduced-398,812-$28.3M
WMTreduced-227,831-$22.3M
AAPLreduced-103,809-$21.3M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2025

Share positions as resolved from 13F-HR 0001477872-25-000005, largest first. % of portfolio is the value over $1,867,957,112, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 359,519 shares; 2024Q4: 313,457 shares; 2025Q1: 321,058 shares; 2025Q2: 318,079 shares 318,079$158M8.47%-2,979Timeline
DISDISNEY WALT COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,536,008 shares; 2024Q4: 1,347,733 shares; 2025Q1: 1,358,068 shares; 2025Q2: 1,253,656 shares 1,253,656$155M8.32%-104,412Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 932,640 shares; 2024Q4: 839,596 shares; 2025Q1: 836,300 shares; 2025Q2: 831,445 shares 831,445$147M7.84%-4,855Timeline
UNILEVER PLCUNILEVER PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,607,574 shares; 2024Q4: 2,226,748 shares; 2025Q1: 2,257,438 shares; 2025Q2: 2,157,095 shares 2,157,095$132M7.06%-100,343
BRK-BBERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 326,548 shares; 2024Q4: 278,612 shares; 2025Q1: 278,541 shares; 2025Q2: 258,265 shares 258,265$125M6.72%-20,276Timeline
NVONOVO-NORDISK A SQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 708,519 shares; 2024Q4: 700,634 shares; 2025Q1: 1,454,160 shares; 2025Q2: 1,512,677 shares 1,512,677$104M5.59%+58,517Timeline
MDTMEDTRONIC PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,356,045 shares; 2024Q4: 1,130,258 shares; 2025Q1: 1,181,178 shares; 2025Q2: 1,181,002 shares 1,181,002$103M5.51%-176Timeline
ORCLORACLE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 800,179 shares; 2024Q4: 668,184 shares; 2025Q1: 591,727 shares; 2025Q2: 450,920 shares 450,920$98.6M5.28%-140,807Timeline
RHHBYROCHE HOLDINGS LTD-SPONS ADRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,325,810 shares; 2024Q4: 2,174,306 shares; 2025Q1: 2,022,209 shares; 2025Q2: 1,978,134 shares 1,978,134$80.6M4.32%-44,075Timeline
JNJJOHNSON & JOHNSONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 532,439 shares; 2024Q4: 520,352 shares; 2025Q1: 504,419 shares; 2025Q2: 501,415 shares 501,415$76.6M4.1%-3,004Timeline
RTXRTX CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,459,106 shares; 2024Q4: 1,127,118 shares; 2025Q1: 625,274 shares; 2025Q2: 418,167 shares 418,167$61.1M3.27%-207,107Timeline
ASMLASML HLDG NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,078 shares; 2024Q4: 54,351 shares; 2025Q1: 74,805 shares; 2025Q2: 75,008 shares 75,008$60.1M3.22%+203Timeline
GDGENERAL DYNAMICS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 241,290 shares; 2024Q4: 232,952 shares; 2025Q1: 214,865 shares; 2025Q2: 206,088 shares 206,088$60.1M3.22%-8,777Timeline
SBUXSTARBUCKS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 548,722 shares; 2024Q4: 530,477 shares; 2025Q1: 508,486 shares; 2025Q2: 510,482 shares 510,482$46.8M2.5%+1,996Timeline
ACNACCENTURE PLC IRELANDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 163,861 shares; 2024Q4: 155,676 shares; 2025Q1: 150,639 shares; 2025Q2: 149,552 shares 149,552$44.7M2.39%-1,087Timeline
VVISA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 184,522 shares; 2024Q4: 175,677 shares; 2025Q1: 166,155 shares; 2025Q2: 121,642 shares 121,642$43.2M2.31%-44,513Timeline
CHRWC H ROBINSON WORLDWIDE INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 516,906 shares; 2024Q4: 474,895 shares; 2025Q1: 454,427 shares; 2025Q2: 443,311 shares 443,311$42.5M2.28%-11,116Timeline
HDHOME DEPOT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 148,551 shares; 2024Q4: 105,859 shares; 2025Q1: 101,332 shares; 2025Q2: 99,605 shares 99,605$36.5M1.96%-1,727Timeline
DEODIAGEO PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 366,966 shares; 2024Q4: 333,433 shares; 2025Q1: 342,699 shares; 2025Q2: 341,086 shares 341,086$34.4M1.84%-1,613Timeline
PGPROCTER & GAMBLE COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 170,571 shares; 2024Q4: 166,693 shares; 2025Q1: 163,513 shares; 2025Q2: 208,643 shares 208,643$33.2M1.78%+45,130Timeline
LLYELI LILLY & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 31,307 shares; 2025Q1: 30,436 shares; 2025Q2: 37,233 shares 37,233$29M1.55%+6,797Timeline
AAPLAPPLE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 332,200 shares; 2024Q4: 314,141 shares; 2025Q1: 237,442 shares; 2025Q2: 133,633 shares 133,633$27.4M1.47%-103,809Timeline
BILSPDR SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 242,150 shares; 2024Q4: 256,411 shares; 2025Q1: 253,288 shares; 2025Q2: 249,882 shares 249,882$22.9M1.23%-3,406Timeline
PEPPEPSICO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 175,383 shares; 2024Q4: 164,944 shares; 2025Q1: 165,530 shares; 2025Q2: 167,435 shares 167,435$22.1M1.18%+1,905Timeline
NKENIKE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 709,189 shares; 2024Q4: 656,900 shares; 2025Q1: 654,313 shares; 2025Q2: 255,501 shares 255,501$18.2M0.97%-398,812Timeline
CLCOLGATE PALMOLIVE COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 134,944 shares; 2024Q4: 126,467 shares; 2025Q1: 193,556 shares; 2025Q2: 195,696 shares 195,696$17.8M0.95%+2,140Timeline
WMTWALMART INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 489,343 shares; 2024Q4: 468,318 shares; 2025Q1: 402,731 shares; 2025Q2: 174,900 shares 174,900$17.1M0.92%-227,831Timeline
ADBEADOBE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 75,493 shares; 2024Q4: 72,136 shares; 2025Q1: 70,185 shares; 2025Q2: 43,634 shares 43,634$16.9M0.9%-26,551Timeline
NVDANVIDIA CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 96,265 shares; 2025Q2: 102,161 shares 102,161$16.1M0.86%+5,896Timeline
ZTSZOETIS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 98,597 shares 98,597$15.4M0.82%newTimeline
HONHONEYWELL INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 8,361 shares; 2025Q1: 54,340 shares; 2025Q2: 57,925 shares 57,925$13.5M0.72%+3,585Timeline
CSCOCISCO SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 504,119 shares; 2024Q4: 35,104 shares; 2025Q1: 16,686 shares; 2025Q2: 16,723 shares 16,723$1.16M0.06%+37Timeline
JQUAJ P MORGAN EXCHANGE TRADED FQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 131,175 shares; 2025Q1: 5,679 shares; 2025Q2: 18,382 shares 18,382$1.1M0.06%+12,703Timeline
GOOGALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,807 shares; 2024Q4: 8,019 shares; 2025Q1: 7,352 shares; 2025Q2: 4,934 shares 4,934$875K0.05%-2,418Timeline
IBMINTERNATIONAL BUSINESS MACHSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,968 shares; 2024Q4: 2,738 shares; 2025Q1: 2,738 shares; 2025Q2: 2,738 shares 2,738$807K0.04%0Timeline
KOCOCA COLA COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 94,392 shares; 2024Q4: 92,167 shares; 2025Q1: 9,895 shares; 2025Q2: 9,895 shares 9,895$700K0.04%0Timeline
AMGNAMGEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,526 shares; 2024Q4: 2,318 shares; 2025Q1: 2,318 shares; 2025Q2: 2,358 shares 2,358$658K0.04%+40Timeline
CTSHCOGNIZANT TECHNOLOGY SOLUTIOQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,591 shares; 2024Q4: 7,540 shares; 2025Q1: 7,428 shares; 2025Q2: 7,428 shares 7,428$580K0.03%0Timeline
PAYXPAYCHEX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,712 shares; 2024Q4: 3,882 shares; 2025Q1: 3,882 shares; 2025Q2: 3,882 shares 3,882$565K0.03%0Timeline
SYYSYSCO CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,492 shares; 2024Q4: 7,450 shares; 2025Q1: 7,372 shares; 2025Q2: 7,372 shares 7,372$558K0.03%0Timeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,000 shares; 2024Q4: 2,000 shares; 2025Q1: 2,000 shares; 2025Q2: 2,000 shares 2,000$439K0.02%0Timeline
LMTLOCKHEED MARTIN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 815 shares; 2024Q4: 695 shares; 2025Q1: 695 shares; 2025Q2: 695 shares 695$322K0.02%0Timeline
TROWPRICE T ROWE GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,506 shares; 2024Q4: 2,736 shares; 2025Q1: 2,588 shares; 2025Q2: 2,986 shares 2,986$288K0.02%+398Timeline
UBFOUNITED SEC BANCSHARES CALIFQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,000 shares; 2024Q4: 11,000 shares; 2025Q1: 11,000 shares; 2025Q2: 11,000 shares 11,000$95.2K0.01%0Timeline

Sold out in Q2 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
BDXBECTON DICKINSON & CO961$220Kshares

How Q2 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001477872-25-000005 base2025-08-20acceptance time not in the bulk data set