# EDGAR Filing Document

**Accession Number:** 0000891160
**File Stem:** 0001752724-23-023462
**Filing Date:** 2023-2
**Character Count:** 17888
**Document Hash:** a4d740462b0a93039b0d60412b8f1f88
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-023462.hdr.sgml**: 20230214

**ACCESSION NUMBER**: 0001752724-23-023462

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230214

**DATE AS OF CHANGE**: 20230214

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SCHWARTZ INVESTMENT TRUST
- **CENTRAL INDEX KEY:** 0000891160
- **IRS NUMBER:** 316456713
- **STATE OF INCORPORATION:** OH
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07148
- **FILM NUMBER:** 23627088

**BUSINESS ADDRESS:**
- **STREET 1:** C/O ULTIMUS FUND SOLUTIONS, LLC
- **STREET 2:** 225 PICTORIA DRIVE, SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 513-587-3400

**MAIL ADDRESS:**
- **STREET 1:** C/O ULTIMUS FUND SOLUTIONS, LLC
- **STREET 2:** 225 PICTORIA DRIVE, SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246

## Series and Classes Contracts Data

### Ave Maria Value Fund (Series ID: S000001549)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000004203 | Ave Maria Value Fund | AVEMX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Schwartz Investment Trust

- **b. Investment Company Act file number:** 811-07148

- **c. CIK number of Registrant:** 0000891160

- **d. LEI of Registrant:** 549300TMUIREL25T6R98

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 801 West Ann Arbor Trail

  - **City:** Plymouth

  - **State:** MI

  - **Foreign country:** US

  - **Zip / Postal Code:** 48170

  - **Telephone number:** 248-644-8500

**Item A.2. Information about the Series.**

- **a. Name of Series:** AVE MARIA VALUE FUND

- **b. EDGAR series identifier (if any):** S000001549

- **c. LEI of Series:** 549300QOQTN0Y3SRQZ13

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $371862736.68

**Total Liabilities:** $790880.87

**Net Assets:** $371071855.81

**Cash Not Reported:** $15375.00

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000004203 | 14.66%               | 6.46%                | -4.19%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2711642.38             | $47002243.03                               |
| Month 2  | $-8409416.92             | $29971976.06                               |
| Month 3  | $-4518023.84             | $-11855288.70                              |

### Schedule of Portfolio Investments

| Name                              | Title                                                                  | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Core Laboratories                 | Core Laboratories N.V.                                                 | CUSIP: N22717107<br>LEI: 724500MDYY5VBSAF5W50 | Long             | EC               | CORP              | NL        |    318000 | NS      | $6445860.00   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Federated                         | Federated Treasury Obligations Fund Institutional Shares               | CUSIP: 60934N500<br>LEI: 25490005VWJDWX717014 | Long             | STIV             | RF                | US        |   8429255 | PA      | $8429254.60   | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Intercontinental Exchange Inc     | Intercontinental Exchange, Inc.                                        | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |    100000 | NS      | $10259000.00  | 2.76%             |  |  |  | No            |                  1 | On Loan: No      |
| U-Haul Holding Company            | U-HAUL HOLDING CO                                                      | CUSIP: 023586100<br>LEI: 5493003WIDMLDHYC6Y24 | Long             | EC               | CORP              | US        |     10800 | NS      | $650052.00    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corporation               | Newmont Corporation                                                    | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |     30000 | NS      | $1416000.00   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Schlumberger Limited              | Schlumberger Ltd.                                                      | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |    323900 | NS      | $17315694.00  | 4.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Barrick Gold Corporation          | Barrick Gold Corporation                                               | CUSIP: 067901108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |    175000 | NS      | $3006500.00   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Valvoline Inc                     | Valvoline, Inc.                                                        | CUSIP: 92047W101<br>LEI: 549300CMHPBEY6VPOT75 | Long             | EC               | CORP              | US        |    330000 | NS      | $10774500.00  | 2.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Heico Corp                        | HEICO Corporation Class A                                              | CUSIP: 422806208<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | EC               | CORP              | US        |     40000 | NS      | $4794000.00   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Remy Cointreau SA                 | Remy Cointreau UNSP ADR                                                | CUSIP: 759655103<br>LEI: 5493004V6A3Z027YT216 | Long             | EC               | CORP              | US        |    175550 | NS      | $2946834.97   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Brown & Brown Inc                 | Brown & Brown, Inc.                                                    | CUSIP: 115236101<br>LEI: 549300PC8KTJ71XKFY89 | Long             | EC               | CORP              | US        |    117450 | NS      | $6691126.50   | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Madison Square Garden Sports Corp | Madison Square Garden Sports Class A                                   | CUSIP: 55825T103<br>LEI: 529900BQELIZ5ZQYB788 | Long             | EC               | CORP              | US        |     15000 | NS      | $2749950.00   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Chesapeake Energy Corporation     | Chesapeake Energy Corporation                                          | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |    150000 | NS      | $14155500.00  | 3.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corporation               | Chevron Corporation                                                    | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    100180 | NS      | $17981308.20  | 4.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Bowlero Corp.                     | Bowlero Corporation                                                    | CUSIP: 10258P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    489574 | NS      | $6599457.52   | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Alcon AG                          | Alcon, Inc. 0                                                          | CUSIP: H01301128<br>LEI: 549300LDT5AP8S0NBM78 | Long             | EC               | CORP              | CH        |    110000 | NS      | $7540500.00   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Pacific Land Corporation    | Texas Pacific Land Corporation                                         | CUSIP: 88262P102<br>LEI: 529900WTH0D1S7BB4S10 | Long             | EC               | CORP              | US        |     25500 | NS      | $59777865.00  | 16.11%            |  |  |  | No            |                  1 | On Loan: No      |
| Otis Worldwide Corp.              | Otis Worldwide Corporation                                             | CUSIP: 68902V107<br>LEI: 549300ZLBKR8VSU25153 | Long             | EC               | CORP              | US        |     85000 | NS      | $6656350.00   | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Hingham Institution for Savings   | HINGHAM INSTITUTION FOR SAVINGS                                        | CUSIP: 433323102<br>LEI: 2549009GDCGUR2T6KU55 | Long             | EC               | CORP              | US        |     34000 | NS      | $9382640.00   | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegion PLC                      | Allegion plc                                                           | CUSIP: G0176J109<br>LEI: 984500560CAC2E6FB757 | Long             | EC               | CORP              | US        |     37500 | NS      | $3947250.00   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Winmark Corp.                     | Winmark Corporation                                                    | CUSIP: 974250102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23700 | NS      | $5589171.00   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Markel Corporation                | Markel Corporation                                                     | CUSIP: 570535104<br>LEI: 549300SCNO12JLWIK605 | Long             | EC               | CORP              | US        |      4850 | NS      | $6389826.50   | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Smith(Ao)Corp                     | A.O. Smith Corporation                                                 | CUSIP: 831865209<br>LEI: 549300XG4US7UJNECY36 | Long             | EC               | CORP              | US        |    113000 | NS      | $6468120.00   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Yeti Holdings Inc                 | Yeti Holdings, Inc.                                                    | CUSIP: 98585X104<br>LEI: 549300DSQICIGNT5GO63 | Long             | EC               | CORP              | US        |    132500 | NS      | $5473575.00   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| CDW Corp                          | CDW Corporation                                                        | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Long             | EC               | CORP              | US        |     37350 | NS      | $6669963.00   | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Gentex Corp                       | Gentex Corporation                                                     | CUSIP: 371901109<br>LEI: 549300S3UD8XV1MN0287 | Long             | EC               | CORP              | US        |    170000 | NS      | $4635900.00   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| St. Joe Co.                       | St. Joe Company (The)                                                  | CUSIP: 790148100<br>LEI: 529900XVHOT3BF8PWG49 | Long             | EC               | CORP              | US        |    103000 | NS      | $3980950.00   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| CME Group Inc.                    | CME Group, Inc.                                                        | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |     40000 | NS      | $6726400.00   | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Mirion Technologies Inc           | Mirion Technologies, Inc.                                              | CUSIP: 60471A101<br>LEI: 549300EBD5JHM14L3R48 | Long             | EC               | CORP              | US        |   1390000 | NS      | $9187900.00   | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| RH                                | RH                                                                     | CUSIP: 74967X103<br>LEI: 5493008MTS3OGGMHGK69 | Long             | EC               | CORP              | US        |     14000 | NS      | $3740660.00   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Vontier Corporation               | Vontier Corporation                                                    | CUSIP: 928881101<br>LEI: 549300VVSQLG4P5K4639 | Long             | EC               | CORP              | US        |    506402 | NS      | $9788750.66   | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Purple Innovation, Inc.           | Purple Innovation Incorporated                                         | CUSIP: 74640Y106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1409490 | NS      | $6751457.10   | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Haemonetics Corp                  | Haemonetics Corporation                                                | CUSIP: 405024100<br>LEI: 549300ZEL6TXZS6F5F95 | Long             | EC               | CORP              | US        |    184000 | NS      | $14471600.00  | 3.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Chemed Corporation                | Chemed Corporation                                                     | CUSIP: 16359R103<br>LEI: 54930020031IDJT2IM79 | Long             | EC               | CORP              | US        |     18300 | NS      | $9340869.00   | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Henry Jack & Associates Inc.      | Jack Henry & Associates, Inc.                                          | CUSIP: 426281101<br>LEI: 529900X1QS8C54W0JB21 | Long             | EC               | CORP              | US        |     43050 | NS      | $7557858.00   | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Pioneer Natural Resources Company | Pioneer Natural Resources Company                                      | CUSIP: 723787107<br>LEI: FY8JBF7CCL2VE4F1B628 | Long             | EC               | CORP              | US        |     90000 | NS      | $20555100.00  | 5.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Franco Nevada Corp                | FRANCO-NEVADA CORPORATION                                              | CUSIP: 351858105<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    104000 | NS      | $14193920.00  | 3.83%             |  |  |  | No            |                  1 | On Loan: No      |
| U-Haul Holding Company            | U-HAUL HOLDING CO B                                                    | CUSIP: 023586506<br>LEI: 5493003WIDMLDHYC6Y24 | Long             | EC               | CORP              | US        |     97200 | NS      | $5344056.00   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Federated                         | Federated Government Obligations Tax-Managed Fund Institutional Shares | CUSIP: 60934N856<br>LEI: 25490005VWJDWX717014 | Long             | STIV             | RF                | US        |  17818000 | PA      | $17818000.24  | 4.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Media Corp Del            | Liberty Media Corporation - Liberty Formula One Series C               | CUSIP: 531229854<br>LEI: 549300ZKUTPIBZLWLL89 | Long             | EC               | CORP              | US        |     80000 | NS      | $4782400.00   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-23

**Name of Applicant:** Ave Maria Value Fund

**Signature:** Daniel Bauer

**Name of Signer:** Daniel Bauer

**Title:** VP, Fund Accounting