1y return+12.6%S&P 500 +20.9%
3y return+37.1%S&P 500 +68.5%
5y return+42.6%S&P 500 +74.5%
10y return+193.0%S&P 500 +256.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since June 30, 2016: $293 against $357 in the S&P 500.2
Saratoga Research & Investment ManagementS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| GOOGLAlphabet Inc. | $178.1M | 9.7% | −18.4% |
| NVONovo Nordisk A/S | $155.1M | 8.5% | −5.8% |
| BRK/BBerkshire Hathaway Inc. | $129.0M | 7.1% | −5.2% |
| MSFTMicrosoft Corp. | $124.7M | 6.8% | −9.4% |
| ULUnilever PLC | $119.4M | 6.5% | +6.0% |
| ASML Holding N.V.CUSIP N07059210 | $118.4M | 6.5% | −7.4% |
| DISWalt Disney Company | $104.3M | 5.7% | −4.0% |
| Medtronic PLCCUSIP G5960L103 | $94.1M | 5.2% | +2.4% |
| NVDANVIDIA Corp. | $77.0M | 4.2% | +14.3% |
| JNJJohnson & Johnson | $70.7M | 3.9% | −18.0% |
| LLYEli Lilly & Co. | $64.6M | 3.5% | +15.8% |
| GDGeneral Dynamics Corporation | $63.9M | 3.5% | −7.1% |
| RHHBYRoche Holding AG | $61.0M | 3.3% | −8.0% |
| SBUXStarbucks Corp. | $60.1M | 3.3% | −6.7% |
| VVisa Inc | $50.7M | 2.8% | −5.5% |
| PGThe Procter & Gamble Co. | $49.7M | 2.7% | −6.0% |
| RTXRTX Corp. | $46.2M | 2.5% | −6.0% |
| CHRWC.H. Robinson Worldwide Inc | $44.3M | 2.4% | −6.6% |
| HDHome Depot Inc. | $29.9M | 1.6% | −4.4% |
| AAPLApple Inc. | $29.1M | 1.6% | −10.3% |
| DEODiageo PLC | $29.0M | 1.6% | −4.5% |
| PEPPepsico Inc | $22.3M | 1.2% | −5.0% |
| BILSPDR Bloomberg 1-3 Month T-Bill ETF | $19.7M | 1.1% | |
| HONHoneywell International Inc. | $17.0M | 0.9% | New |
| HONAHoneywell Aerospace Inc. | $16.7M | 0.9% | New |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| GOOGLAlphabet Inc. | June 30, 2020 | +404.0% | $178.1M |
| GOOGAlphabet Inc. | June 30, 2020 | +399.9% | $1,000K |
| AAPLApple Inc. | June 30, 2020 | +217.3% | $29.1M |
| RTXRTX Corp. | June 30, 2020 | +207.9% | $46.2M |
| BRK/BBerkshire Hathaway Inc. | June 30, 2020 | +180.3% | $129.0M |
| ASML Holding N.V.CUSIP N07059210 | December 31, 2023 | +162.8% | $118.4M |
| CSCOCisco Systems, Inc. | June 30, 2020 | +151.8% | $528K |
| CHRWC.H. Robinson Worldwide Inc | June 30, 2020 | +138.2% | $44.3M |
| GDGeneral Dynamics Corporation | June 30, 2020 | +137.0% | $63.9M |
| IBMInternational Business Machines Corp. | June 30, 2020 | +132.9% | $738K |
Sold off last quarter
- Honeywell International Inc.CUSIP 438516106 was $37.5M
- NKENike, Inc. was $6.2M
- ADBEAdobe Inc was $540K
- SYYSysco Corporation was $520K
- EPDEnterprise Products Partners L.P. was $203K
- UBFOUnited Security Bs was $116K
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +8.7% | +14.8% |
| March 31, 2026 | −6.9% | −4.6% |
| December 31, 2025 | +4.2% | +2.4% |
| September 30, 2025 | +6.8% | +7.8% |
| June 30, 2025 | +7.2% | +10.5% |
| March 31, 2025 | −1.7% | −4.6% |
| December 31, 2024 | −3.6% | +2.1% |
| September 30, 2024 | +8.4% | +5.4% |
| June 30, 2024 | +1.2% | +4.0% |
| March 31, 2024 | +6.5% | +10.0% |
| December 31, 2023 | +8.3% | +11.2% |
| September 30, 2023 | −5.3% | −3.6% |
| June 30, 2023 | +5.6% | +8.3% |
| March 31, 2023 | +5.5% | +7.0% |
| December 31, 2022 | +10.8% | +7.1% |
| September 30, 2022 | −7.0% | −5.3% |
| June 30, 2022 | −13.3% | −16.5% |
| March 31, 2022 | −3.7% | −4.9% |
| December 31, 2021 | +8.5% | +10.7% |
| September 30, 2021 | +0.1% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Saratoga Research & Investment Management Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1477872&type=13F-HR&dateb=&owner=include&count=40CIK 1477872
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1477872/000147787226000004/Filed July 23, 2026 · accession 0001477872-26-000004