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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
+2.99%
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
$2.45B
AUM Growth
-$88.5M
Cap. Flow
-$168M
Cap. Flow %
-6.85%
Top 10 Hldgs %
53.77%
Holding
40
New
4
Increased
5
Reduced
28
Closed
2

Top Buys

Rank Stock Value
1
JNJ icon
Johnson & Johnson
JNJ
+$56M
2
T icon
AT&T
T
+$54.3M
3
MCK icon
McKesson
MCK
+$35.3M
4
CTSH icon
Cognizant
CTSH
+$10.5M
5
BIL icon
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
+$2.71M

Top Sells

Rank Stock Value
1
HSY icon
Hershey
HSY
+$108M
2
SBUX icon
Starbucks
SBUX
+$70M
3
DLTR icon
Dollar Tree
DLTR
+$40.8M
4
MSI icon
Motorola Solutions
MSI
+$16.1M
5
AON icon
Aon
AON
+$13.2M

Sector Composition

Rank Sector Weight
1 Healthcare 22.47%
2 Technology 19.28%
3 Communication Services 15.04%
4 Financials 13.37%
5 Consumer Discretionary 9.8%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MSFT icon
1
Microsoft
MSFT
$2.9T
$188M 7.67%
1,350,530
-62,430
-4% -$8.58M
BRK.B icon
2
Berkshire Hathaway Class B
BRK.B
$1.1T
$139M 5.66%
665,928
-25,275
-4% -$5.21M
KSU
3
DELISTED
Kansas City Southern
KSU
$137M 5.61%
1,033,082
-49,496
-5% -$6.17M
AON icon
4
Aon
AON
$80.6B
$136M 5.55%
702,203
-68,204
-9% -$13.2M
CMCSA icon
5
Comcast
CMCSA
$87.3B
$131M 5.37%
2,916,971
-133,893
-4% -$5.93M
BKNG icon
6
Booking.com
BKNG
$156B
$128M 5.21%
1,625,300
-68,650
-4% -$5.32M
AGN
7
DELISTED
Allergan plc
AGN
$119M 4.85%
706,306
-1,417
-0.2% -$231K
ORCL icon
8
Oracle
ORCL
$339B
$114M 4.64%
2,064,191
-91,485
-4% -$5.05M
CTSH icon
9
Cognizant
CTSH
$25.2B
$113M 4.63%
1,881,665
+166,290
+10% +$10.5M
MCK icon
10
McKesson
MCK
$104B
$112M 4.58%
820,261
+249,195
+44% +$35.3M
AAP icon
11
Advance Auto Parts
AAP
$3.53B
$111M 4.54%
672,620
-32,500
-5% -$4.88M
JNJ icon
12
Johnson & Johnson
JNJ
$640B
$109M 4.47%
845,969
+425,406
+101% +$56M
CVS icon
13
CVS Health
CVS
$135B
$107M 4.38%
1,700,018
-76,160
-4% -$4.51M
NVS icon
14
Novartis
NVS
$302B
$102M 4.18%
1,177,939
-100,618
-8% -$9.03M
BIL icon
15
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
$47.1B
$99M 4.04%
1,081,428
+29,627
+3% +$2.71M
DLTR icon
16
Dollar Tree
DLTR
$24.8B
$83.7M 3.42%
733,028
-389,938
-35% -$40.8M
GOOG icon
17
Alphabet (Google) Class C
GOOG
$4.11T
$74.6M 3.05%
1,224,760
-51,400
-4% -$3.04M
SHW icon
18
Sherwin-Williams
SHW
$83.5B
$73.3M 2.99%
400,116
-25,650
-6% -$4.36M
LBRDK icon
19
Liberty Broadband Class C
LBRDK
$4.89B
$72.7M 2.97%
694,436
-27,594
-4% -$2.88M
T icon
20
AT&T
T
$164B
$58.6M 2.39%
+2,049,118
New +$54.3M
MSI icon
21
Motorola Solutions
MSI
$72.1B
$55.5M 2.26%
325,456
-93,965
-22% -$16.1M
CERN
22
DELISTED
Cerner Corp
CERN
$53.2M 2.17%
780,676
-43,111
-5% -$3.05M
WFC icon
23
Wells Fargo
WFC
$254B
$52.7M 2.15%
1,045,714
-12,088
-1% -$569K
WSO icon
24
Watsco Inc
WSO
$13.2B
$35M 1.43%
207,012
-11,814
-5% -$1.92M
BIDU icon
25
Baidu
BIDU
$35.7B
$30.3M 1.24%
294,379
-7,219
-2% -$776K
1
2

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JIC
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MB
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CFM
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Scharf Investments's Q3 2019 Portfolio in Review

As of Q3 2019, Scharf Investments held 40 positions worth $2.45B, down 3.5% from $2.54B the previous quarter. Its ten largest holdings account for 54% of the portfolio.

Scharf Investments withdrew a net $168M in Q3 2019, closing 2 positions and reducing 28 holdings. Its most notable exit was OAKTREE CAPITAL GROUP, LLC, an estimated $335K position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 22% of assets, up from 18% a quarter earlier, followed by Technology and Communication Services.

Against the trend, Scharf Investments opened a new position in AT&T worth $58.6M.

  • Scharf Investments's largest Q3 2019 buy was AT&T: 2,049,118 shares worth $58.6M.
  • Scharf Investments added most to Johnson & Johnson in Q3 2019, an estimated $56M increase.
  • Scharf Investments's biggest Q3 2019 reduction was Hershey, cutting an estimated $108M.
  • Scharf Investments fully exited OAKTREE CAPITAL GROUP, LLC in Q3 2019, selling an estimated $335K.
  • Scharf Investments's ten largest holdings make up 54% of its $2.45B portfolio in Q3 2019.
  • Scharf Investments opened 4 new positions and closed 2 in Q3 2019.
  • Scharf Investments's portfolio value fell 3.5% quarter-over-quarter to $2.45B.

Based on Scharf Investments's 13F filing for Q3 2019, filed 13 Nov 2019.