SEC 13F Intelligence

Managers / Q2 2020 · view latest →

Saratoga Research & Investment Management

CIK 0001477872 · 14471 BIG BASIN WAY, SUITE E, SARATOGA, CA, 95070 · (408) 741-2330

Reported Value
$1.6B
Q2 2020
Positions
43
Filings on Record
30
2019–present window
Filed
Aug 7, 2020
original filing

Summary

Saratoga Research & Investment Management reported $1.6B in U.S.-listed holdings across 43 positions for Q2 2020.

Its largest position, BRK/B, represents 6.1% of the portfolio.

Compared with Q1 2020, the fund opened 2 new positions and exited 3.

Portfolio Metrics

Turnover
+7.1%
vs prior filed quarter
Top-10 Concentration
+52.1%
share of reported value
Largest Position
+6.1%
Berkshire Hathaway B
New / Exited
2 / 3
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $1.3BQ4 ’18Q1 ’19: $1.5BQ2 ’19: $1.6BQ3 ’19: $1.5BQ4 ’19: $1.7BQ4 ’19Q1 ’20: $1.4BQ2 ’20: $1.6BQ3 ’20: $1.7BQ4 ’20: $1.9BQ4 ’20Q1 ’21: $2.0BQ2 ’21: $2.1BQ3 ’21: $2.2BQ4 ’21: $2.3BQ4 ’21Q1 ’22: $2.3BQ2 ’22: $2.0BQ3 ’22: $1.9BQ4 ’22: $2.0BQ4 ’22Q1 ’23: $2.1BQ2 ’23: $2.2BQ3 ’23: $2.0BQ4 ’23: $2.2BQ4 ’23Q1 ’24: $2.2BQ2 ’24: $2.2BQ3 ’24: $2.3BQ4 ’24: $2.0BQ4 ’24Q1 ’25: $1.9BQ2 ’25: $1.9BQ3 ’25: $1.9BQ4 ’25: $1.9BQ4 ’25Q1 ’26: $1.8Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 91.9%ADR: 4.9%Other: 3.2%REIT: 0.0%
  • Common Stock · 91.9% · $1.5B
  • ADR · 4.9% · $78M
  • Other · 3.2% · $51M
  • REIT · 0.0% · $372,000

Quarter-over-Quarter Changes full breakdown →

vs Q1 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
RTXRaytheon TechnologiesNEW+1.07M1.07M+$66M$66M
Unilever PLCNEW+220.4K220.4K+$12M$12M
UTXZUnited TechnologiesSOLD OUT−845.8K0−$80M$0
QUALiShares Edge MSCI USA QualitySOLD OUT−9.7K0−$783,000$0
TPRTapestry IncSOLD OUT−13.9K0−$180,000$0
AAPLApple IncTRIMMED−82.3K242.8K+$6M$89M
NVONovo Nordisk ADRTRIMMED−333.7K1.19M−$14M$78M
GDGeneral DynamicsADDED+47.2K279.0K+$11M$42M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q2 2020

42 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1BRK/BBerkshire Hathaway Bhistory →COM6.11%$97M542.1K
2ORCLOraclehistory →COM5.93%$94M1.70M
3DISDisney Walt Cohistory →COM5.80%$92M823.4K
4AAPLApple Inchistory →COM5.59%$89M242.8K
5CHRWC.H. Robinson Worldwidehistory →COM5.43%$86M1.09M
6MSFTMicrosofthistory →COM5.09%$81M396.0K
7NVONovo Nordisk ADRhistory →COM4.91%$78M1.19M
8CSCOCisco Systemshistory →COM4.87%$77M1.65M
9GOOGLAlphabet Inc Cl ACOM4.20%$67M46.9K
10RTXRaytheon Technologieshistory →COM4.15%$66M1.07M
11BIIBBiogen Inchistory →COM4.11%$65M243.1K
12NKENIKEhistory →COM3.65%$58M590.3K
13CTSHCognizant Tech Solutionshistory →COM3.57%$57M995.3K
14PEPPepsicohistory →COM3.20%$51M383.3K
15MDTMedtronic PLChistory →COM3.16%$50M546.6K
16SBUXStarbuckshistory →COM3.04%$48M654.3K
17JNJJohnson & Johnsonhistory →COM2.94%$46M330.6K
18PGProcter & Gamblehistory →COM2.82%$45M374.1K
19GDGeneral Dynamicshistory →COM2.63%$42M279.0K
20MMM3M Companyhistory →COM2.61%$41M265.2K
21Reckitt Benckiser Group PLC ADCOM2.44%$39M2.09M
22WMTWalmart Inchistory →COM2.44%$39M322.4K
23ACNAccenture Ltd Newhistory →COM2.09%$33M153.9K
24EXPDExpeditors Int'l of WAhistory →COM2.00%$32M417.3K
25IFFInt'l Flavors & Fraghistory →COM1.76%$28M227.5K
26Varian Medical SystemsCOM1.58%$25M204.5K
27BDXBecton, Dickinson & Cohistory →COM1.17%$19M77.5K
28KOCoca-Colahistory →COM0.90%$14M320.0K
29Unilever PLCCOM0.76%$12M220.4K
30VVisa IncCOM0.42%$7M34.4K
31AMGNAmgenCOM0.41%$7M27.8K
32PAYXPaychexCOM0.03%$479,0006.3K
33INTCIntelCOM0.03%$463,0007.7K
34BENFranklin ResourcesCOM0.03%$398,00019.0K
35Monmouth Real Estate InvestmenREIT0.02%$372,00025.7K
36AMZNAmazon.comCOM0.02%$334,000121
37BMYBristol-Myers SquibbCOM0.02%$332,0005.6K
38IBMInt'l Business MachinesCOM0.02%$276,0002.3K
39NGGNational Grid PLC NewCOM0.01%$231,0003.8K
40PFEPfizerCOM0.01%$212,0006.5K
41MOAltria GroupCOM0.01%$208,0005.3K
42UBFOUnited Security BancsharesCOM0.00%$72,00010.7K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$1.8B46May 8, 202613F-HRchanges · EDGAR ↗
Q4 2025$1.9B47Feb 5, 202613F-HRchanges · EDGAR ↗
Q3 2025$1.9B43Nov 17, 202513F-HRchanges · EDGAR ↗
Q2 2025$1.9B44Aug 20, 202513F-HRchanges · EDGAR ↗
Q1 2025$1.9B44May 12, 202513F-HRchanges · EDGAR ↗
Q4 2024$2.0B44Feb 12, 202513F-HRchanges · EDGAR ↗
Q3 2024$2.3B41Nov 22, 202413F-HRchanges · EDGAR ↗
Q2 2024$2.2B42Aug 16, 202413F-HRchanges · EDGAR ↗
Q1 2024$2.2B45Apr 17, 202413F-HRchanges · EDGAR ↗
Q4 2023$2.2B47Feb 9, 202413F-HRchanges · EDGAR ↗
Q3 2023$2.0B47Nov 9, 202313F-HRchanges · EDGAR ↗
Q2 2023$2.2B47Jul 24, 202313F-HRchanges · EDGAR ↗
Q1 2023$2.1B46May 5, 202313F-HRchanges · EDGAR ↗
Q4 2022$2.0B45Feb 13, 202313F-HRchanges · EDGAR ↗
Q3 2022$1.9B45Oct 31, 202213F-HRchanges · EDGAR ↗
Q2 2022$2.0B47Aug 1, 202213F-HRchanges · EDGAR ↗
Q1 2022$2.3B47Apr 29, 202213F-HRchanges · EDGAR ↗
Q4 2021$2.3B48Feb 8, 202213F-HRchanges · EDGAR ↗
Q3 2021$2.2B46Nov 5, 202113F-HRchanges · EDGAR ↗
Q2 2021$2.1B43Aug 10, 202113F-HRchanges · EDGAR ↗
Q1 2021$2.0B43Apr 12, 202113F-HRchanges · EDGAR ↗
Q4 2020$1.9B42Feb 3, 202113F-HRchanges · EDGAR ↗
Q3 2020$1.7B41Oct 9, 202013F-HRchanges · EDGAR ↗
Q2 2020$1.6B43Aug 7, 202013F-HRchanges · EDGAR ↗
Q1 2020$1.4B44May 13, 202013F-HRchanges · EDGAR ↗
Q4 2019$1.7B45Feb 5, 202013F-HRchanges · EDGAR ↗
Q3 2019$1.5B45Oct 29, 201913F-HRchanges · EDGAR ↗
Q2 2019$1.6B45Jul 24, 201913F-HRchanges · EDGAR ↗
Q1 2019$1.5B44Apr 18, 201913F-HRchanges · EDGAR ↗
Q4 2018$1.3B43Jan 15, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.