Saratoga Research & Investment Management

Long Only Manager

Saratoga Research & Investment Management is a Long Only Manager based in Avondale, AZ led by Kevin Peter Tanner, reporting $2.5B in AUM as of Q3 2025 with 65% concentrated in top 10 holdings.

CEOKevin Peter Tanner

Portfolio Value: $1.8B
Positions: 42
Top Holding: GOOGL at 10.41%
Last Reported: Q3 2025

Address12725 W Indian School Road, Suite E-101, Avondale, AZ, 85392, United States

Top Holdings

Largest long holdings in Saratoga Research & Investment Management's portfolio (65.2% of total portfolio)

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GthenH

Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Alphabet Inc. GOOGL	Internet Content & Information Communication Services	$191.8M	10.41%	-$10.3M Sold	0.01% 789.2K shares	Q4 2014 Held for 10y 11m
2 Microsoft MSFT	Software - Infrastructure Technology	$157.2M	8.53%	-$7.6M Sold	0.00% 303.5K shares	≤ Q2 2013 Held for 12y 5m+
3 Berkshire Hathaway BRK.B	Insurance - Diversified Financial Services	$134.7M	7.31%	+$4.9M Bought	0.01% 268.0K shares	Q4 2019 Held for 5y 11m
4 UL Unilever UL	Unknown Unknown	$125.0M	6.79%	-$2.9M Sold	— 2.1M shares	Q4 2022 Held for 2y 11m
5 Walt Disney DIS	Entertainment Communication Services	$117.0M	6.35%	-$26.5M Sold	0.06% 1.0M shares	Q4 2016 Held for 8y 11m
6 Medtronic MDT	Medical - Devices Healthcare	$111.5M	6.05%	-$958.1K Sold	0.09% 1.2M shares	≤ Q2 2013 Held for 12y 5m+
7 NVO Novo Nordisk NVO	Unknown Unknown	$102.9M	5.58%	+$18.9M Bought	— 1.9M shares	Q4 2022 Held for 2y 11m
8 Oracle ORCL	Software - Infrastructure Technology	$100.1M	5.43%	-$26.7M Sold	0.01% 355.9K shares	≤ Q2 2013 Held for 12y 5m+
9 Johnson & Johnson JNJ	Drug Manufacturers - General Healthcare	$90.0M	4.89%	-$2.9M Sold	0.02% 485.6K shares	≤ Q2 2013 Held for 12y 5m+
10 ASML ASML ASML	Unknown Unknown	$71.5M	3.88%	-$1.1M Sold	— 73.8K shares	Q4 2023 Held for 1y 11m

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GthenH

Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Saratoga Research & Investment Management's latest filing

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GthenC

Market Value

$1.8B

Prior: $1.8B

Q/Q Change

+3.07%

+$54.9M

Net Flows % of MV

-3.8%

Turnover Ratio

5.34%

New Purchases

0 stocks

Added To

8 stocks

+$63.3M

Sold Out Of

1 stocks

$579.6K

Reduced Holdings

26 stocks

-$132.8M

Increased Positions

Position	Shares Δ	Change
1 Eli Lilly LLY	+65.07%	37.2K → 61.5K +$18.5M
2 Honeywell International HON	+45.41%	57.9K → 84.2K +$5.5M
3 NVO Novo Nordisk NVO	+22.54%	1.5M → 1.9M +$18.9M
4 Starbucks SBUX	+21.83%	510.5K → 621.9K +$9.4M
5 Zoetis ZTS	+11.58%	98.6K → 110.0K +$1.7M

Decreased Positions

Position	Shares Δ	Change
1 Cognizant CTSH	Sold	7.4K → 0 −$579.6K
2 JPMorgan U.S. Quality Factor JQUA	-81.0%	18.4K → 3.5K −$936.7K
3 Nike NKE	-51.55%	255.5K → 123.8K −$9.2M
4 Cisco Systems, Inc. CSCO	-35.65%	16.7K → 10.8K −$407.9K
5 C.H. Robinson Worldwide CHRW	-26.21%	443.3K → 327.1K −$15.4M