# EDGAR Filing Document

**Accession Number:** 0001463746
**File Stem:** 0001085146-25-003788
**Filing Date:** 2025-7
**Character Count:** 11217
**Document Hash:** cb086645bcd1d3a6f7510bea65e59bbe
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001085146-25-003788.hdr.sgml**: 20250714

**ACCESSION NUMBER**: 0001085146-25-003788

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250714

**DATE AS OF CHANGE**: 20250714

**EFFECTIVENESS DATE**: 20250714

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SCHARF INVESTMENTS, LLC
- **CENTRAL INDEX KEY:** 0001463746

**ORGANIZATION NAME:**
- **EIN:** 263775085
- **STATE OF INCORPORATION:** CA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-13511
- **FILM NUMBER:** 251121028

**BUSINESS ADDRESS:**
- **STREET 1:** 16450 LOS GATOS BLVD
- **STREET 2:** SUITE 207
- **CITY:** LOS GATOS
- **STATE:** CA
- **ZIP:** 95032
- **BUSINESS PHONE:** 831-429-6513

**MAIL ADDRESS:**
- **STREET 1:** 16450 LOS GATOS BLVD
- **STREET 2:** SUITE 207
- **CITY:** LOS GATOS
- **STATE:** CA
- **ZIP:** 95032

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** SCHARF INVESTMENTS LLC<br>**Address:** 16450 LOS GATOS BLVD<br>SUITE 207<br>LOS GATOS, CA 95032

**Form 13F File Number:** 028-13511

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Jason Marcus<br>**Title:** Chief Operating Officer<br>**Phone:** 831-429-6513

**Signature, Place, and Date of Signing:**

/s/  Jason Marcus  LOS GATOS, CA  07-11-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 66

**Form 13F Information Table Value Total:** $3471995925

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 | BBG001SCXK90 | 2725946 | 9120 | SH |  | SOLE |  | 7126 | 0 | 1994 |
| ADOBE INC | COM | 00724F101 | BBG001S5NCQ5 | 91679050 | 236955 | SH |  | SOLE |  | 105414 | 8012 | 123529 |
| AIR PRODS  CHEMS INC | COM | 009158106 | BBG001S5NSB6 | 142895582 | 506600 | SH |  | SOLE |  | 225261 | 17838 | 263501 |
| ALPHABET INC | CAP STK CL A | 02079K305 | BBG009S39JY5 | 2416769 | 13713 | SH |  | SOLE |  | 10751 | 0 | 2962 |
| ALPHABET INC | CAP STK CL C | 02079K107 | BBG009S3NB21 | 3867627 | 21803 | SH |  | SOLE |  | 16134 | 0 | 5669 |
| AON PLC | SHS CL A | G0403H108 | BBG00SSQFPR9 | 81865440 | 229454 | SH |  | SOLE |  | 101235 | 8062 | 120157 |
| APPLE INC | COM | 037833100 | BBG001S5N8V8 | 2804324 | 13668 | SH |  | SOLE |  | 10497 | 0 | 3171 |
| ARMSTRONG WORLD INDS INC NEW | COM | 04247X102 | BBG001SGL0H9 | 241873 | 1489 | SH |  | SOLE |  | 0 | 0 | 1489 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 | BBG001S82KF6 | 2240972 | 7266 | SH |  | SOLE |  | 5768 | 0 | 1498 |
| BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 | BBG001S902J2 | 1457600 | 2 | SH |  | SOLE |  | 2 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 | BBG001S90346 | 212153387 | 436722 | SH |  | SOLE |  | 190572 | 15335 | 230815 |
| BOOKING HOLDINGS INC | COM | 09857L108 | BBG001S89N72 | 90903653 | 15686 | SH |  | SOLE |  | 7150 | 425 | 8111 |
| BROOKFIELD CORP | CL A LTD VT SH | 11271J107 | BBG001SF86D7 | 174605250 | 2823153 | SH |  | SOLE |  | 1258093 | 97064 | 1467996 |
| CANADIAN PACIFIC KANSAS CITY | COM | 13646K108 | BBG001S7F4Z8 | 226170 | 2853 | SH |  | SOLE |  | 1 | 12 | 2840 |
| CARGURUS INC | COM CL A | 141788109 | BBG00HQ77DT1 | 436750 | 13049 | SH |  | SOLE |  | 0 | 0 | 13049 |
| CENTENE CORP DEL | COM | 15135B101 | BBG001S6T7Q8 | 109308354 | 2013780 | SH |  | SOLE |  | 895701 | 82978 | 1035101 |
| CME GROUP INC | COM | 12572Q105 | BBG001S86547 | 121339734 | 440229 | SH |  | SOLE |  | 198883 | 15118 | 226228 |
| COMCAST CORP NEW | CL A | 20030N101 | BBG001S5PXL2 | 94287822 | 2641848 | SH |  | SOLE |  | 1195498 | 90685 | 1355665 |
| CVS HEALTH CORP | COM | 126650100 | BBG001S5QBD8 | 8683465 | 125885 | SH |  | SOLE |  | 31782 | 3 | 94100 |
| DISNEY WALT CO | COM | 254687106 | BBG001S5QHF3 | 104203180 | 840267 | SH |  | SOLE |  | 362371 | 29593 | 448303 |
| DONALDSON INC | COM | 257651109 | BBG001S5QDV4 | 52712505 | 760079 | SH |  | SOLE |  | 297829 | 29534 | 432716 |
| EAST WEST BANCORP INC | COM | 27579R104 | BBG001SCC7R2 | 225185 | 2230 | SH |  | SOLE |  | 0 | 0 | 2230 |
| EATON CORP PLC | SHS | G29183103 | BBG001S5QZ45 | 1283759 | 3596 | SH |  | SOLE |  | 2787 | 0 | 809 |
| ELI LILLY  CO | COM | 532457108 | BBG001S5STL8 | 1934033 | 2481 | SH |  | SOLE |  | 1884 | 0 | 597 |
| FIRST HORIZON CORPORATION | COM | 320517105 | BBG001SCW8R8 | 269410 | 12708 | SH |  | SOLE |  | 0 | 0 | 12708 |
| FISERV INC | COM | 337738108 | BBG001S5R6Q4 | 199302258 | 1155966 | SH |  | SOLE |  | 508731 | 40514 | 606721 |
| FRANCO NEV CORP | COM | 351858105 | BBG001STGSR5 | 78509229 | 478933 | SH |  | SOLE |  | 225170 | 13837 | 239926 |
| GRAINGER W W INC | COM | 384802104 | BBG001S5RRD2 | 2377368 | 2285 | SH |  | SOLE |  | 1780 | 0 | 505 |
| HALEON PLC | SPON ADS | 405552100 | BBG018GZNDB0 | 5096336 | 491450 | SH |  | SOLE |  | 491450 | 0 | 0 |
| HEALTHEQUITY INC | COM | 42226A107 | BBG001T8JKN8 | 277824 | 2652 | SH |  | SOLE |  | 0 | 0 | 2652 |
| HERSHEY CO | COM | 427866108 | BBG001S5S148 | 90587578 | 545858 | SH |  | SOLE |  | 232363 | 18355 | 295140 |
| IMMUNOME INC | COM | 45257U108 | BBG00BR94298 | 412818 | 44389 | SH |  | SOLE |  | 0 | 0 | 44389 |
| INTUIT | COM | 461202103 | BBG001S6TWR2 | 4717016 | 5989 | SH |  | SOLE |  | 4697 | 0 | 1292 |
| ISHARES TR | RUS 1000 ETF | 464287622 | BBG001S562W9 | 640594 | 1886 | SH |  | SOLE |  | 0 | 0 | 1886 |
| LOCKHEED MARTIN CORP | COM | 539830109 | BBG001S7PS57 | 89999662 | 194309 | SH |  | SOLE |  | 80845 | 6967 | 106497 |
| MARCUS  MILLICHAP INC | COM | 566324109 | BBG005GBRSS5 | 269542 | 8777 | SH |  | SOLE |  | 0 | 0 | 8777 |
| MARKEL GROUP INC | COM | 570535104 | BBG001S9ZK95 | 175758922 | 87980 | SH |  | SOLE |  | 38129 | 3190 | 46661 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 | BBG001SKNNS6 | 2963476 | 5273 | SH |  | SOLE |  | 4126 | 0 | 1147 |
| MCKESSON CORP | COM | 58155Q103 | BBG001S8F8P8 | 255332887 | 348429 | SH |  | SOLE |  | 154292 | 12262 | 181875 |
| META PLATFORMS INC | CL A | 30303M102 | BBG001SQCQC5 | 2709534 | 3671 | SH |  | SOLE |  | 2814 | 0 | 857 |
| MICROSOFT CORP | COM | 594918104 | BBG001S5TD05 | 221332955 | 444957 | SH |  | SOLE |  | 202432 | 15233 | 227292 |
| MILLERKNOLL INC | COM | 600544100 | BBG001S5T771 | 470063 | 24206 | SH |  | SOLE |  | 0 | 23089 | 1117 |
| NOVARTIS AG | SPONSORED ADR | 66987V109 | BBG001SF5LW6 | 152769793 | 1262444 | SH |  | SOLE |  | 563330 | 42079 | 657035 |
| NVIDIA CORPORATION | COM | 67066G104 | BBG001S5TZJ6 | 7213315 | 45657 | SH |  | SOLE |  | 35494 | 0 | 10163 |
| OCCIDENTAL PETE CORP | COM | 674599105 | BBG001S5TZG9 | 146232432 | 3480890 | SH |  | SOLE |  | 1643674 | 125719 | 1711497 |
| ORACLE CORP | COM | 68389X105 | BBG001S5SJG6 | 193112810 | 883272 | SH |  | SOLE |  | 384240 | 30532 | 468500 |
| PIEDMONT REALTY TRUST INC | COM CL A | 720190206 | BBG001T6RFS9 | 152383 | 20903 | SH |  | SOLE |  | 0 | 0 | 20903 |
| PORTLAND GEN ELEC CO | COM NEW | 736508847 | BBG001S5V4Y5 | 4124270 | 101508 | SH |  | SOLE |  | 74573 | 0 | 26935 |
| PROGRESSIVE CORP | COM | 743315103 | BBG001S5V509 | 927312 | 3475 | SH |  | SOLE |  | 0 | 1 | 3474 |
| QUEST DIAGNOSTICS INC | COM | 74834L100 | BBG001S9GX43 | 253817 | 1413 | SH |  | SOLE |  | 0 | 0 | 1413 |
| QUINCE THERAPEUTICS INC | COM | 22053A107 | BBG00BTK1DS9 | 150251 | 91061 | SH |  | SOLE |  | 0 | 0 | 91061 |
| SALESFORCE INC | COM | 79466L302 | BBG001SDLP09 | 3031246 | 11116 | SH |  | SOLE |  | 8606 | 0 | 2510 |
| SCHLUMBERGER LTD | COM STK | 806857108 | BBG001S5W4C8 | 19727163 | 583633 | SH |  | SOLE |  | 224926 | 25880 | 332827 |
| SMITH  NEPHEW PLC | SPDN ADR NEW | 83175M205 | BBG001SDCF10 | 63818259 | 2083513 | SH |  | SOLE |  | 717032 | 85680 | 1280801 |
| SONY GROUP CORP | SPONSORED ADR | 835699307 | BBG001S5W6H8 | 2688248 | 103275 | SH |  | SOLE |  | 103275 | 0 | 0 |
| SPDR DOW JONES INDL AVERAGE | UT SER 1 | 78467X109 | BBG001S8LH99 | 482512 | 1095 | SH |  | SOLE |  | 0 | 0 | 1095 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 | BBG001S72SM3 | 22834694 | 36954 | SH |  | SOLE |  | 164 | 0 | 36790 |
| SPDR SERIES TRUST | BLOOMBERG 1-3 MO | 78468R663 | BBG001STKCW9 | 69736093 | 760224 | SH |  | SOLE |  | 0 | 82590 | 677634 |
| SPROUTS FMRS MKT INC | COM | 85208M102 | BBG001V0MZS0 | 234777 | 1426 | SH |  | SOLE |  | 0 | 0 | 1426 |
| STRYKER CORPORATION | COM | 863667101 | BBG001S8FR03 | 3441904 | 8700 | SH |  | SOLE |  | 6779 | 0 | 1921 |
| U HAUL HOLDING COMPANY | COM | 023586100 | BBG001S6VFM1 | 81691975 | 1449296 | SH |  | SOLE |  | 665938 | 53706 | 729652 |
| U HAUL HOLDING COMPANY | COM SER N | 023586506 | BBG01B6SGC20 | 8978444 | 148257 | SH |  | SOLE |  | 51637 | 0 | 96620 |
| UNION PAC CORP | COM | 907818108 | BBG001S5X2M0 | 75886261 | 329812 | SH |  | SOLE |  | 144068 | 11541 | 174203 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 | BBG001S6WCJ1 | 9192196 | 29465 | SH |  | SOLE |  | 29465 | 0 | 0 |
| VALVOLINE INC | COM | 92047W101 | BBG003DNHV65 | 1197200 | 31613 | SH |  | SOLE |  | 0 | 0 | 31613 |
| VISA INC | COM CL A | 92826C839 | BBG001SRCFY3 | 168592668 | 474828 | SH |  | SOLE |  | 209435 | 16672 | 248721 |

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