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Saratoga Research & Investment Management

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13F filer, CIK 1477872, SARATOGA, CA

Saratoga Research & Investment Management reported $1,907,743,899 across 47 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-05. Its ten largest share positions make up 63.42% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001477872-26-000001

Period
2025-12-31
Reported value
$1.91B
Holdings
47
Top 10 weight
63.42%
New
5
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ULnew+1,853,095$121M
HONadded+55,459$10.8M
JQUAadded+158,950$10M
NVDAadded+12,478$2.33M
IVVnew+1,688$1.16M

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
UNILEVER PLCexited-2,108,717-$125M
GOOGLreduced-69,321-$21.7M
LLYreduced-13,304-$14.3M
ZTSreduced-102,618-$12.9M
DEOreduced-65,490-$5.65M

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, Q4 2025

Share positions as resolved from 13F-HR 0001477872-26-000001, largest first. % of portfolio is the value over $1,907,743,903, 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; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 932,640 shares; 2024Q4: 839,596 shares; 2025Q1: 836,300 shares; 2025Q2: 831,445 shares; 2025Q3: 789,168 shares; 2025Q4: 719,847 shares 719,847$225M11.81%-69,321Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 359,519 shares; 2024Q4: 313,457 shares; 2025Q1: 321,058 shares; 2025Q2: 318,079 shares; 2025Q3: 303,466 shares; 2025Q4: 298,708 shares 298,708$144M7.57%-4,758Timeline
BRK-BBERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 326,548 shares; 2024Q4: 278,612 shares; 2025Q1: 278,541 shares; 2025Q2: 258,265 shares; 2025Q3: 268,008 shares; 2025Q4: 263,262 shares 263,262$132M6.94%-4,746Timeline
ULUNILEVER PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,853,095 shares 1,853,095$121M6.35%newTimeline
DISDISNEY WALT COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,023,783 shares 1,023,783$116M6.11%+1,952Timeline
MDTMEDTRONIC PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,155,146 shares 1,155,146$111M5.82%-15,796Timeline
JNJJOHNSON & JOHNSONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 532,439 shares; 2024Q4: 520,352 shares; 2025Q1: 504,419 shares; 2025Q2: 501,415 shares; 2025Q3: 485,620 shares; 2025Q4: 460,223 shares 460,223$95.2M4.99%-25,397Timeline
RHHBYROCHE HOLDINGS LTD-SPONS ADRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,832,770 shares 1,832,770$94.5M4.95%-87,315Timeline
NVONOVO-NORDISK A SQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,852,566 shares 1,852,566$94.3M4.94%-1,141Timeline
ASMLASML HLDG NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,078 shares; 2024Q4: 54,351 shares; 2025Q1: 74,805 shares; 2025Q2: 75,008 shares; 2025Q3: 73,830 shares; 2025Q4: 70,236 shares 70,236$75.1M3.94%-3,594Timeline
ORCLORACLE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 800,179 shares; 2024Q4: 668,184 shares; 2025Q1: 591,727 shares; 2025Q2: 450,920 shares; 2025Q3: 355,900 shares; 2025Q4: 345,704 shares 345,704$67.4M3.53%-10,196Timeline
GDGENERAL DYNAMICS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 241,290 shares; 2024Q4: 232,952 shares; 2025Q1: 214,865 shares; 2025Q2: 206,088 shares; 2025Q3: 197,443 shares; 2025Q4: 188,679 shares 188,679$63.5M3.33%-8,764Timeline
RTXRTX CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 313,003 shares 313,003$57.4M3.01%-16,253Timeline
LLYELI LILLY & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 31,307 shares; 2025Q1: 30,436 shares; 2025Q2: 37,233 shares; 2025Q3: 61,459 shares; 2025Q4: 48,155 shares 48,155$51.8M2.71%-13,304Timeline
SBUXSTARBUCKS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 548,722 shares; 2024Q4: 530,477 shares; 2025Q1: 508,486 shares; 2025Q2: 510,482 shares; 2025Q3: 621,908 shares; 2025Q4: 593,466 shares 593,466$50M2.62%-28,442Timeline
CHRWC H ROBINSON WORLDWIDE INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 516,906 shares; 2024Q4: 474,895 shares; 2025Q1: 454,427 shares; 2025Q2: 443,311 shares; 2025Q3: 327,131 shares; 2025Q4: 307,641 shares 307,641$49.5M2.59%-19,490Timeline
VVISA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 184,522 shares; 2024Q4: 175,677 shares; 2025Q1: 166,155 shares; 2025Q2: 121,642 shares; 2025Q3: 116,596 shares; 2025Q4: 111,697 shares 111,697$39.2M2.05%-4,899Timeline
ACNACCENTURE PLC IRELANDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 163,861 shares; 2024Q4: 155,676 shares; 2025Q1: 150,639 shares; 2025Q2: 149,552 shares; 2025Q3: 146,168 shares; 2025Q4: 135,584 shares 135,584$36.4M1.91%-10,584Timeline
HDHOME DEPOT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 148,551 shares; 2024Q4: 105,859 shares; 2025Q1: 101,332 shares; 2025Q2: 99,605 shares; 2025Q3: 95,674 shares; 2025Q4: 91,391 shares 91,391$31.4M1.65%-4,283Timeline
AAPLAPPLE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 332,200 shares; 2024Q4: 314,141 shares; 2025Q1: 237,442 shares; 2025Q2: 133,633 shares; 2025Q3: 124,335 shares; 2025Q4: 115,542 shares 115,542$31.4M1.65%-8,793Timeline
PGPROCTER & GAMBLE COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 170,571 shares; 2024Q4: 166,693 shares; 2025Q1: 163,513 shares; 2025Q2: 208,643 shares; 2025Q3: 223,896 shares; 2025Q4: 218,125 shares 218,125$31.3M1.64%-5,771Timeline
HONHONEYWELL INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 8,361 shares; 2025Q1: 54,340 shares; 2025Q2: 57,925 shares; 2025Q3: 84,226 shares; 2025Q4: 139,685 shares 139,685$27.3M1.43%+55,459Timeline
PEPPEPSICO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 175,383 shares; 2024Q4: 164,944 shares; 2025Q1: 165,530 shares; 2025Q2: 167,435 shares; 2025Q3: 181,505 shares; 2025Q4: 172,282 shares 172,282$24.7M1.3%-9,223Timeline
DEODIAGEO PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 366,966 shares; 2024Q4: 333,433 shares; 2025Q1: 342,699 shares; 2025Q2: 341,086 shares; 2025Q3: 336,548 shares; 2025Q4: 271,058 shares 271,058$23.4M1.23%-65,490Timeline
NVDANVIDIA CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 96,265 shares; 2025Q2: 102,161 shares; 2025Q3: 99,805 shares; 2025Q4: 112,283 shares 112,283$20.9M1.1%+12,478Timeline
BILSPDR SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 242,150 shares; 2024Q4: 256,411 shares; 2025Q1: 253,288 shares; 2025Q2: 249,882 shares; 2025Q3: 245,697 shares; 2025Q4: 225,181 shares 225,181$20.6M1.08%-20,516Timeline
WMTWALMART INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 489,343 shares; 2024Q4: 468,318 shares; 2025Q1: 402,731 shares; 2025Q2: 174,900 shares; 2025Q3: 162,620 shares; 2025Q4: 153,526 shares 153,526$17.1M0.9%-9,094Timeline
CLCOLGATE PALMOLIVE COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 134,944 shares; 2024Q4: 126,467 shares; 2025Q1: 193,556 shares; 2025Q2: 195,696 shares; 2025Q3: 194,095 shares; 2025Q4: 186,563 shares 186,563$14.7M0.77%-7,532Timeline
ADBEADOBE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 75,493 shares; 2024Q4: 72,136 shares; 2025Q1: 70,185 shares; 2025Q2: 43,634 shares; 2025Q3: 41,704 shares; 2025Q4: 36,153 shares 36,153$12.7M0.66%-5,551Timeline
JQUAJ P MORGAN EXCHANGE TRADED FQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 131,175 shares; 2025Q1: 5,679 shares; 2025Q2: 18,382 shares; 2025Q3: 3,492 shares; 2025Q4: 162,442 shares 162,442$10.3M0.54%+158,950Timeline
NKENIKE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 709,189 shares; 2024Q4: 656,900 shares; 2025Q1: 654,313 shares; 2025Q2: 255,501 shares; 2025Q3: 123,790 shares; 2025Q4: 111,781 shares 111,781$7.12M0.37%-12,009Timeline
GOOGALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,807 shares; 2024Q4: 8,019 shares; 2025Q1: 7,352 shares; 2025Q2: 4,934 shares; 2025Q3: 4,257 shares; 2025Q4: 4,239 shares 4,239$1.33M0.07%-18Timeline
IVVISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,688 shares 1,688$1.16M0.06%newTimeline
ZTSZOETIS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 98,597 shares; 2025Q3: 110,018 shares; 2025Q4: 7,400 shares 7,400$931K0.05%-102,618Timeline
CSCOCISCO SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 504,119 shares; 2024Q4: 35,104 shares; 2025Q1: 16,686 shares; 2025Q2: 16,723 shares; 2025Q3: 10,761 shares; 2025Q4: 10,737 shares 10,737$827K0.04%-24Timeline
IBMINTERNATIONAL BUSINESS MACHSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,968 shares; 2024Q4: 2,738 shares; 2025Q1: 2,738 shares; 2025Q2: 2,738 shares; 2025Q3: 2,738 shares; 2025Q4: 2,733 shares 2,733$810K0.04%-5Timeline
AMGNAMGEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,526 shares; 2024Q4: 2,318 shares; 2025Q1: 2,318 shares; 2025Q2: 2,358 shares; 2025Q3: 2,358 shares; 2025Q4: 2,358 shares 2,358$772K0.04%0Timeline
KOCOCA COLA COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 94,392 shares; 2024Q4: 92,167 shares; 2025Q1: 9,895 shares; 2025Q2: 9,895 shares; 2025Q3: 9,895 shares; 2025Q4: 9,849 shares 9,849$689K0.04%-46Timeline
APHAMPHENOL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 4,005 shares 4,005$541K0.03%newTimeline
SYYSYSCO CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,492 shares; 2024Q4: 7,450 shares; 2025Q1: 7,372 shares; 2025Q2: 7,372 shares; 2025Q3: 7,317 shares; 2025Q4: 7,295 shares 7,295$538K0.03%-22Timeline
LOWLOWES COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,992 shares 1,992$480K0.03%newTimeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,000 shares; 2024Q4: 2,000 shares; 2025Q1: 2,000 shares; 2025Q2: 2,000 shares; 2025Q3: 2,000 shares; 2025Q4: 2,000 shares 2,000$462K0.02%0Timeline
PAYXPAYCHEX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,712 shares; 2024Q4: 3,882 shares; 2025Q1: 3,882 shares; 2025Q2: 3,882 shares; 2025Q3: 3,882 shares; 2025Q4: 3,882 shares 3,882$435K0.02%0Timeline
LMTLOCKHEED MARTIN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 815 shares; 2024Q4: 695 shares; 2025Q1: 695 shares; 2025Q2: 695 shares; 2025Q3: 695 shares; 2025Q4: 695 shares 695$336K0.02%0Timeline
TROWPRICE T ROWE GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,506 shares; 2024Q4: 2,736 shares; 2025Q1: 2,588 shares; 2025Q2: 2,986 shares; 2025Q3: 2,986 shares; 2025Q4: 2,977 shares 2,977$305K0.02%-9Timeline
NVSNOVARTIS AGQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,490 shares 1,490$205K0.01%newTimeline
UBFOUNITED SEC BANCSHARES CALIFQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,000 shares; 2024Q4: 11,000 shares; 2025Q1: 11,000 shares; 2025Q2: 11,000 shares; 2025Q3: 11,000 shares; 2025Q4: 11,000 shares 11,000$111K0.01%0Timeline

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
UNILEVER PLCUNILEVER PLC2,108,717$125Mshares

How Q4 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 0001477872-26-000001 base2026-02-05acceptance time not in the bulk data set