Q4 2025 · 13F-HR
Saratoga Research & Investment Managementholdings as filed
Filed 2026-02-05 · accession 0001477872-26-000001
The Brief · Saratoga Research & Investment Management · Q4 2025
AI · grounded in 13F
Saratoga Research & Investment Management closed its position in Unilever PLC, reducing its exposure by $125.0M. The fund simultaneously opened a new position in Unilever PLC SPON ADR NEW UL valued at $121.2M. Other notable activity includes increasing holdings in Honeywell International Inc. HON by 65.8% and the JPMorgan US Quality Factor ETF JQUA by 4,551.8%. The fund reduced 34 positions, including a 93.3% cut to Zoetis Inc. CL A ZTS.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 02079K305 | GOOGL | Alphabet Inc. CAP STK CL A | $225.3M | 11.8% | 719,847 | Common | SOLE |
| 594918104 | MSFT | Microsoft Corp. | $144.5M | 7.57% | 298,708 | Common | SOLE |
| 084670702 | BRK/B | Berkshire Hathaway Inc. CL B NEW | $132.3M | 6.94% | 263,262 | Common | SOLE |
| 904767803 | UL | Unilever PLC SPON ADR NEW | $121.2M | 6.35% | 1,853,095 | Common | SOLE |
| 254687106 | DIS | Walt Disney Company | $116.5M | 6.11% | 1,023,783 | Common | SOLE |
| G5960L103 | MDT | Medtronic PLC | $111.0M | 5.82% | 1,155,146 | Common | SOLE |
| 478160104 | JNJ | Johnson & Johnson | $95.2M | 4.99% | 460,223 | Common | SOLE |
| 771195104 | RHHBY | Roche Holding AG SPONSORED ADR | $94.5M | 4.95% | 1,832,770 | Common | SOLE |
| 670100205 | NVO | Novo Nordisk A/S ADR | $94.3M | 4.94% | 1,852,566 | Common | SOLE |
| N07059210 | ASML | ASML Holding N.V. | $75.1M | 3.94% | 70,236 | Common | SOLE |
| 68389X105 | ORCL | Oracle Corp. | $67.4M | 3.53% | 345,704 | Common | SOLE |
| 369550108 | GD | General Dynamics Corporation | $63.5M | 3.33% | 188,679 | Common | SOLE |
| 75513E101 | RTX | RTX Corp. | $57.4M | 3.01% | 313,003 | Common | SOLE |
| 532457108 | LLY | Eli Lilly & Co. | $51.8M | 2.71% | 48,155 | Common | SOLE |
| 855244109 | SBUX | Starbucks Corp. | $50.0M | 2.62% | 593,466 | Common | SOLE |
| 12541W209 | CHRW | C.H. Robinson Worldwide Inc COM NEW | $49.5M | 2.59% | 307,641 | Common | SOLE |
| 92826C839 | V | Visa Inc COM CL A | $39.2M | 2.05% | 111,697 | Common | SOLE |
| G1151C101 | ACN | Accenture PLC | $36.4M | 1.91% | 135,584 | Common | SOLE |
| 437076102 | HD | Home Depot Inc. | $31.4M | 1.65% | 91,391 | Common | SOLE |
| 037833100 | AAPL | Apple Inc. | $31.4M | 1.65% | 115,542 | Common | SOLE |
| 742718109 | PG | Procter & Gamble Co. | $31.3M | 1.64% | 218,125 | Common | SOLE |
| 438516106 | HON | Honeywell International Inc. | $27.3M | 1.43% | 139,685 | Common | SOLE |
| 713448108 | PEP | Pepsico Inc | $24.7M | 1.30% | 172,282 | Common | SOLE |
| 25243Q205 | DEO | Diageo PLC SPON ADR NEW | $23.4M | 1.23% | 271,058 | Common | SOLE |
| 67066G104 | NVDA | NVIDIA Corp. | $20.9M | 1.10% | 112,283 | Common | SOLE |
| 78468R663 | BIL | SPDR Bloomberg 1-3 Month T-Bill ETF | $20.6M | 1.08% | 225,181 | Common | SOLE |
| 931142103 | WMT | Walmart Inc | $17.1M | 0.90% | 153,526 | Common | SOLE |
| 194162103 | CL | Colgate-Palmolive Co. | $14.7M | 0.77% | 186,563 | Common | SOLE |
| 00724F101 | ADBE | Adobe Inc | $12.7M | 0.66% | 36,153 | Common | SOLE |
| 46641Q761 | JQUA | JPMorgan US Quality Factor ETF | $10.3M | 0.54% | 162,442 | Common | SOLE |
| 654106103 | NKE | Nike, Inc. CL B | $7.1M | 0.37% | 111,781 | Common | SOLE |
| 02079K107 | GOOG | Alphabet Inc. CAP STK CL C | $1.3M | 0.07% | 4,239 | Common | SOLE |
| 464287200 | IVV | iShares Core S&P 500 ETF | $1.2M | 0.06% | 1,688 | Common | SOLE |
| 98978V103 | ZTS | Zoetis Inc. CL A | $931,068 | 0.05% | 7,400 | Common | SOLE |
| 17275R102 | CSCO | Cisco Systems, Inc. | $827,071 | 0.04% | 10,737 | Common | SOLE |
| 459200101 | IBM | International Business Machines Corp. | $809,542 | 0.04% | 2,733 | Common | SOLE |
| 031162100 | AMGN | Amgen Inc. | $771,797 | 0.04% | 2,358 | Common | SOLE |
| 191216100 | KO | Coca-Cola Co (The) | $688,544 | 0.04% | 9,849 | Common | SOLE |
| 032095101 | APH | Amphenol Corporation CL A | $541,236 | 0.03% | 4,005 | Common | SOLE |
| 871829107 | SYY | Sysco Corporation | $537,569 | 0.03% | 7,295 | Common | SOLE |
| 548661107 | LOW | Lowes Companies, Inc. | $480,391 | 0.03% | 1,992 | Common | SOLE |
| 023135106 | AMZN | Amazon.com, Inc. | $461,640 | 0.02% | 2,000 | Common | SOLE |
| 704326107 | PAYX | Paychex Inc | $435,483 | 0.02% | 3,882 | Common | SOLE |
| 539830109 | LMT | Lockheed Martin Corporation | $336,151 | 0.02% | 695 | Common | SOLE |
| 74144T108 | TROW | Price T Rowe Group Inc. | $304,785 | 0.02% | 2,977 | Common | SOLE |
| 66987V109 | NVS | Novartis AG SPONSORED ADR | $205,426 | 0.01% | 1,490 | Common | SOLE |
| 911460103 | UBFO | United Security Bs | $110,770 | 0.01% | 11,000 | Common | NONE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.