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SI

Scharf Investments Portfolio holdings

AUM $3.03B
1-Year Est. Return 7.75%
This Fund
S&P 500
This Quarter Est. Return
-0.89%
1 Year Est. Return
+7.75%
3 Year Est. Return
+55.03%
5 Year Est. Return
+80.17%
10 Year Est. Return
+289.59%
AUM
$2.8B
AUM Growth
-$762M
Cap. Flow
-$730M
Cap. Flow %
-26.1%
Top 10 Hldgs %
51.54%
Holding
48
New
4
Increased
4
Reduced
30
Closed
6

Top Buys

Rank Stock Value
1
DLTR icon
Dollar Tree
DLTR
+$124M
2
T icon
AT&T
T
+$73.5M
3
HSY icon
Hershey
HSY
+$22.5M
4
AET
Aetna Inc
AET
+$1.4M
5
LRCX icon
Lam Research
LRCX
+$347K

Top Sells

Rank Stock Value
1
TWX
Time Warner Inc
TWX
+$180M
2
CTSH icon
Cognizant
CTSH
+$102M
3
BBWI icon
Bath & Body Works
BBWI
+$85M
4
AAP icon
Advance Auto Parts
AAP
+$56.8M
5
MSFT icon
Microsoft
MSFT
+$43.1M

Sector Composition

Rank Sector Weight
1 Technology 21.53%
2 Healthcare 16.9%
3 Consumer Discretionary 16.59%
4 Communication Services 10.48%
5 Financials 10.29%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MSFT icon
1
Microsoft
MSFT
$2.9T
$205M 7.32%
2,077,047
-445,039
-18% -$43.1M
ORCL icon
2
Oracle
ORCL
$339B
$159M 5.69%
3,612,113
-845,017
-19% -$38.9M
AON icon
3
Aon
AON
$80.6B
$153M 5.46%
1,113,380
-245,028
-18% -$34.5M
CMCSA icon
4
Comcast
CMCSA
$87.3B
$144M 5.16%
4,397,741
-1,013,871
-19% -$33M
HSY icon
5
Hershey
HSY
$37.3B
$138M 4.93%
1,481,324
+241,662
+19% +$22.5M
SHW icon
6
Sherwin-Williams
SHW
$83.5B
$133M 4.75%
979,173
-214,872
-18% -$27.8M
BRK.B icon
7
Berkshire Hathaway Class B
BRK.B
$1.1T
$129M 4.6%
689,800
-158,732
-19% -$30.9M
AAP icon
8
Advance Auto Parts
AAP
$3.53B
$128M 4.57%
942,095
-467,046
-33% -$56.8M
CDK
9
DELISTED
CDK Global, Inc.
CDK
$127M 4.54%
1,953,209
-487,711
-20% -$31.5M
BKNG icon
10
Booking.com
BKNG
$156B
$127M 4.53%
1,564,700
-362,700
-19% -$30.6M
WBA
11
DELISTED
Walgreens Boots Alliance
WBA
$125M 4.47%
2,084,710
-447,603
-18% -$28.8M
SBUX icon
12
Starbucks
SBUX
$119B
$118M 4.23%
2,420,943
-453,456
-16% -$25.7M
DLTR icon
13
Dollar Tree
DLTR
$24.8B
$114M 4.07%
+1,340,979
New +$124M
AGN
14
DELISTED
Allergan plc
AGN
$106M 3.79%
637,029
-132,531
-17% -$21.3M
MSI icon
15
Motorola Solutions
MSI
$72.1B
$97.8M 3.49%
840,306
-175,220
-17% -$19.3M
MCK icon
16
McKesson
MCK
$104B
$94M 3.36%
704,977
-164,607
-19% -$24.1M
GNTX icon
17
Gentex
GNTX
$5.1B
$90.2M 3.22%
3,920,045
-902,777
-19% -$21.4M
CVS icon
18
CVS Health
CVS
$135B
$89.1M 3.18%
1,384,554
-247,270
-15% -$16.3M
KSU
19
DELISTED
Kansas City Southern
KSU
$80M 2.86%
755,147
-174,670
-19% -$19M
DIS icon
20
Walt Disney
DIS
$171B
$76.4M 2.73%
729,038
-150,202
-17% -$15.4M
AAPL icon
21
Apple
AAPL
$4.97T
$73.7M 2.63%
1,592,164
-395,324
-20% -$17.9M
T icon
22
AT&T
T
$164B
$71M 2.54%
+2,929,665
New +$73.5M
CTSH icon
23
Cognizant
CTSH
$25.2B
$65.9M 2.35%
833,820
-1,301,046
-61% -$102M
CERN
24
DELISTED
Cerner Corp
CERN
$58.8M 2.1%
983,902
-234,553
-19% -$13.9M
NVS icon
25
Novartis
NVS
$302B
$58.4M 2.09%
863,027
-29,753
-3% -$2.05M
1
2

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CM
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JIC
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MB
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CFM
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TAM
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Scharf Investments's Q2 2018 Portfolio in Review

As of Q2 2018, Scharf Investments held 48 positions worth $2.8B, down 21% from $3.56B the previous quarter. Its ten largest holdings account for 52% of the portfolio.

Scharf Investments withdrew a net $730M in Q2 2018, closing 6 positions and reducing 30 holdings. Its most notable exit was Time Warner Inc, an estimated $180M position sold in full.

By sector, the portfolio is most concentrated in Technology at 22% of assets, down from 22% a quarter earlier, followed by Healthcare and Consumer Discretionary.

Against the trend, Scharf Investments opened a new position in Dollar Tree worth $114M.

  • Scharf Investments's largest Q2 2018 buy was Dollar Tree: 1,340,979 shares worth $114M.
  • Scharf Investments added most to Hershey in Q2 2018, an estimated $22.5M increase.
  • Scharf Investments's biggest Q2 2018 reduction was Cognizant, cutting an estimated $102M.
  • Scharf Investments fully exited Time Warner Inc in Q2 2018, selling an estimated $180M.
  • Scharf Investments's ten largest holdings make up 52% of its $2.8B portfolio in Q2 2018.
  • Scharf Investments opened 4 new positions and closed 6 in Q2 2018.
  • Scharf Investments's portfolio value fell 21% quarter-over-quarter to $2.8B.

Based on Scharf Investments's 13F filing for Q2 2018, filed 13 Aug 2018.