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Saratoga Research & Investment Management

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13F filer, CIK 1477872, SARATOGA, CA

Saratoga Research & Investment Management reported $1,922,553,562 across 43 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-17. Its ten largest share positions make up 62.97% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001477872-25-000007

Period
2025-09-30
Reported value
$1.92B
Holdings
43
Top 10 weight
62.97%
New
0
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
NVOadded+341,030$18.9M
LLYadded+24,226$18.5M
SBUXadded+111,426$9.43M
HONadded+26,301$5.54M
BRK-Badded+9,743$4.9M

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-95,020-$26.7M
DISreduced-231,825-$26.5M
CHRWreduced-116,180-$15.4M
RTXreduced-88,911-$14.9M
GOOGLreduced-42,277-$10.3M

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, Q3 2025

Share positions as resolved from 13F-HR 0001477872-25-000007, largest first. % of portfolio is the value over $1,922,553,563, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 932,640 shares; 2024Q4: 839,596 shares; 2025Q1: 836,300 shares; 2025Q2: 831,445 shares; 2025Q3: 789,168 shares 789,168$192M9.98%-42,277Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 359,519 shares; 2024Q4: 313,457 shares; 2025Q1: 321,058 shares; 2025Q2: 318,079 shares; 2025Q3: 303,466 shares 303,466$157M8.18%-14,613Timeline
BRK-BBERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 326,548 shares; 2024Q4: 278,612 shares; 2025Q1: 278,541 shares; 2025Q2: 258,265 shares; 2025Q3: 268,008 shares 268,008$135M7.01%+9,743Timeline
UNILEVER PLCUNILEVER PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 2,108,717 shares 2,108,717$125M6.5%-48,378
DISDISNEY WALT COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 1,021,831 shares 1,021,831$117M6.09%-231,825Timeline
MDTMEDTRONIC PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 1,170,942 shares 1,170,942$112M5.8%-10,060Timeline
NVONOVO-NORDISK A SQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 708,519 shares; 2024Q4: 700,634 shares; 2025Q1: 1,454,160 shares; 2025Q2: 1,512,677 shares; 2025Q3: 1,853,707 shares 1,853,707$103M5.35%+341,030Timeline
ORCLORACLE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 800,179 shares; 2024Q4: 668,184 shares; 2025Q1: 591,727 shares; 2025Q2: 450,920 shares; 2025Q3: 355,900 shares 355,900$100M5.21%-95,020Timeline
JNJJOHNSON & JOHNSONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 532,439 shares; 2024Q4: 520,352 shares; 2025Q1: 504,419 shares; 2025Q2: 501,415 shares; 2025Q3: 485,620 shares 485,620$90M4.68%-15,795Timeline
RHHBYROCHE HOLDINGS LTD-SPONS ADRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 1,920,085 shares 1,920,085$80.3M4.18%-58,049Timeline
ASMLASML HLDG NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,078 shares; 2024Q4: 54,351 shares; 2025Q1: 74,805 shares; 2025Q2: 75,008 shares; 2025Q3: 73,830 shares 73,830$71.5M3.72%-1,178Timeline
GDGENERAL DYNAMICS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 241,290 shares; 2024Q4: 232,952 shares; 2025Q1: 214,865 shares; 2025Q2: 206,088 shares; 2025Q3: 197,443 shares 197,443$67.3M3.5%-8,645Timeline
RTXRTX CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,459,106 shares; 2024Q4: 1,127,118 shares; 2025Q1: 625,274 shares; 2025Q2: 418,167 shares; 2025Q3: 329,256 shares 329,256$55.1M2.87%-88,911Timeline
SBUXSTARBUCKS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 548,722 shares; 2024Q4: 530,477 shares; 2025Q1: 508,486 shares; 2025Q2: 510,482 shares; 2025Q3: 621,908 shares 621,908$52.6M2.74%+111,426Timeline
LLYELI LILLY & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 31,307 shares; 2025Q1: 30,436 shares; 2025Q2: 37,233 shares; 2025Q3: 61,459 shares 61,459$46.9M2.44%+24,226Timeline
CHRWC H ROBINSON WORLDWIDE INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 516,906 shares; 2024Q4: 474,895 shares; 2025Q1: 454,427 shares; 2025Q2: 443,311 shares; 2025Q3: 327,131 shares 327,131$43.3M2.25%-116,180Timeline
VVISA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 184,522 shares; 2024Q4: 175,677 shares; 2025Q1: 166,155 shares; 2025Q2: 121,642 shares; 2025Q3: 116,596 shares 116,596$39.8M2.07%-5,046Timeline
HDHOME DEPOT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 148,551 shares; 2024Q4: 105,859 shares; 2025Q1: 101,332 shares; 2025Q2: 99,605 shares; 2025Q3: 95,674 shares 95,674$38.8M2.02%-3,931Timeline
ACNACCENTURE PLC IRELANDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 163,861 shares; 2024Q4: 155,676 shares; 2025Q1: 150,639 shares; 2025Q2: 149,552 shares; 2025Q3: 146,168 shares 146,168$36M1.87%-3,384Timeline
PGPROCTER & GAMBLE COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 170,571 shares; 2024Q4: 166,693 shares; 2025Q1: 163,513 shares; 2025Q2: 208,643 shares; 2025Q3: 223,896 shares 223,896$34.4M1.79%+15,253Timeline
DEODIAGEO PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 366,966 shares; 2024Q4: 333,433 shares; 2025Q1: 342,699 shares; 2025Q2: 341,086 shares; 2025Q3: 336,548 shares 336,548$32.1M1.67%-4,538Timeline
AAPLAPPLE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 332,200 shares; 2024Q4: 314,141 shares; 2025Q1: 237,442 shares; 2025Q2: 133,633 shares; 2025Q3: 124,335 shares 124,335$31.7M1.65%-9,298Timeline
PEPPEPSICO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 175,383 shares; 2024Q4: 164,944 shares; 2025Q1: 165,530 shares; 2025Q2: 167,435 shares; 2025Q3: 181,505 shares 181,505$25.5M1.33%+14,070Timeline
BILSPDR SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 242,150 shares; 2024Q4: 256,411 shares; 2025Q1: 253,288 shares; 2025Q2: 249,882 shares; 2025Q3: 245,697 shares 245,697$22.5M1.17%-4,185Timeline
NVDANVIDIA CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 96,265 shares; 2025Q2: 102,161 shares; 2025Q3: 99,805 shares 99,805$18.6M0.97%-2,356Timeline
HONHONEYWELL INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 8,361 shares; 2025Q1: 54,340 shares; 2025Q2: 57,925 shares; 2025Q3: 84,226 shares 84,226$17.7M0.92%+26,301Timeline
WMTWALMART INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 489,343 shares; 2024Q4: 468,318 shares; 2025Q1: 402,731 shares; 2025Q2: 174,900 shares; 2025Q3: 162,620 shares 162,620$16.8M0.87%-12,280Timeline
ZTSZOETIS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 98,597 shares; 2025Q3: 110,018 shares 110,018$16.1M0.84%+11,421Timeline
CLCOLGATE PALMOLIVE COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 134,944 shares; 2024Q4: 126,467 shares; 2025Q1: 193,556 shares; 2025Q2: 195,696 shares; 2025Q3: 194,095 shares 194,095$15.5M0.81%-1,601Timeline
ADBEADOBE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 75,493 shares; 2024Q4: 72,136 shares; 2025Q1: 70,185 shares; 2025Q2: 43,634 shares; 2025Q3: 41,704 shares 41,704$14.7M0.77%-1,930Timeline
NKENIKE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 709,189 shares; 2024Q4: 656,900 shares; 2025Q1: 654,313 shares; 2025Q2: 255,501 shares; 2025Q3: 123,790 shares 123,790$8.63M0.45%-131,711Timeline
GOOGALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,807 shares; 2024Q4: 8,019 shares; 2025Q1: 7,352 shares; 2025Q2: 4,934 shares; 2025Q3: 4,257 shares 4,257$1.04M0.05%-677Timeline
IBMINTERNATIONAL BUSINESS MACHSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,968 shares; 2024Q4: 2,738 shares; 2025Q1: 2,738 shares; 2025Q2: 2,738 shares; 2025Q3: 2,738 shares 2,738$773K0.04%0Timeline
CSCOCISCO SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 504,119 shares; 2024Q4: 35,104 shares; 2025Q1: 16,686 shares; 2025Q2: 16,723 shares; 2025Q3: 10,761 shares 10,761$736K0.04%-5,962Timeline
AMGNAMGEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,526 shares; 2024Q4: 2,318 shares; 2025Q1: 2,318 shares; 2025Q2: 2,358 shares; 2025Q3: 2,358 shares 2,358$665K0.03%0Timeline
KOCOCA COLA COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 94,392 shares; 2024Q4: 92,167 shares; 2025Q1: 9,895 shares; 2025Q2: 9,895 shares; 2025Q3: 9,895 shares 9,895$656K0.03%0Timeline
SYYSYSCO CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,492 shares; 2024Q4: 7,450 shares; 2025Q1: 7,372 shares; 2025Q2: 7,372 shares; 2025Q3: 7,317 shares 7,317$602K0.03%-55Timeline
PAYXPAYCHEX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,712 shares; 2024Q4: 3,882 shares; 2025Q1: 3,882 shares; 2025Q2: 3,882 shares; 2025Q3: 3,882 shares 3,882$492K0.03%0Timeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,000 shares; 2024Q4: 2,000 shares; 2025Q1: 2,000 shares; 2025Q2: 2,000 shares; 2025Q3: 2,000 shares 2,000$439K0.02%0Timeline
LMTLOCKHEED MARTIN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 815 shares; 2024Q4: 695 shares; 2025Q1: 695 shares; 2025Q2: 695 shares; 2025Q3: 695 shares 695$347K0.02%0Timeline
TROWPRICE T ROWE GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,506 shares; 2024Q4: 2,736 shares; 2025Q1: 2,588 shares; 2025Q2: 2,986 shares; 2025Q3: 2,986 shares 2,986$306K0.02%0Timeline
JQUAJ P MORGAN EXCHANGE TRADED FQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 131,175 shares; 2025Q1: 5,679 shares; 2025Q2: 18,382 shares; 2025Q3: 3,492 shares 3,492$220K0.01%-14,890Timeline
UBFOUNITED SEC BANCSHARES CALIFQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,000 shares; 2024Q4: 11,000 shares; 2025Q1: 11,000 shares; 2025Q2: 11,000 shares; 2025Q3: 11,000 shares 11,000$103K0.01%0Timeline

Sold out in Q3 2025

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

SecurityShares beforeValue beforeType
CTSHCOGNIZANT TECHNOLOGY SOLUTIO7,428$580Kshares

How Q3 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 0001477872-25-000007 base2025-11-17acceptance time not in the bulk data set