Scharf Investments, LLC
Scharf Investments, LLC declares $446.3M in 13 of the 220 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 14.7% of its $3.0B 13F portfolio. Largest positions: Microsoft (0.00% of the company) and Amazon (0.00% of the company). Over time: $446.3M in 13 of these companies for Q2 2026, against $538.6M in 6 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $150.9M and sold $39.6M of these stocks, at the quarter's prices: a net purchase of $111.3M; 1 new position and 1 sold out.
Performance of its AI picks
The AI-stock portfolio Scharf Investments, LLC declared for Q2 2026 (Form 13F), held unchanged, returned +20.9% in Q3 2026 (SMH -7.1%), ranked 6 of 1,776 active managers. Over the last 12 months, quarter after quarter: -20.5% (SMH +87.2%), ranked 1356 of 1,356 active managers. Over three years, quarter after quarter: +59.4% (SMH +325.8%). Over five years, quarter after quarter: +81.2% (SMH +389.8%). Trades made during a quarter are not visible in 13F filings: this measures its declared picks, not the return of its funds.
Largest positions
- Microsoft (MSFT) — $117.1M: 313,848 shares, 0.00% of the company, 3.9% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
- Amazon (AMZN) — $115.4M: 484,291 shares, 0.00% of the company, 3.8% of its portfolio (added this quarter); held since Q1 2026
- Meta Platforms (META) — $96.0M: 170,441 shares, 0.01% of the company, 3.2% of its portfolio (trimmed this quarter); held since Q1 2025
- Adobe (ADBE) — $60.5M: 295,118 shares, 0.08% of the company, 2.0% of its portfolio (trimmed this quarter); held since Q3 2020
- NVIDIA (NVDA) — $41.3M: 206,500 shares, 0.00% of the company, 1.4% of its portfolio (added this quarter); held since Q3 2023
- Alphabet (GOOGL) — $5.7M: 16,062 shares, 0.00% of the company, 0.19% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
- ASML (ASML) — $3.1M: 1,573 shares, 0.00% of the company, 0.10% of its portfolio (new position this quarter)
- Apple (AAPL) — $2.6M: 8,870 shares, 0.00% of the company, 0.08% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
- Oracle (ORCL) — $1.5M: 9,921 shares, 0.00% of the company, 0.05% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
- Broadcom (AVGO) — $1.3M: 3,381 shares, 0.00% of the company, 0.04% of its portfolio (trimmed this quarter); held since Q3 2025
- Eaton (ETN) — $862,467.00: 2,024 shares, 0.00% of the company, 0.03% of its portfolio (trimmed this quarter); held since Q1 2024
- Amphenol (APH) — $640,218.00: 7,262 shares, 0.00% of the company, 0.02% of its portfolio (trimmed this quarter); held since Q4 2025
- ServiceNow (NOW) — $285,827.00: 2,879 shares, 0.00% of the company, 0.01% of its portfolio (trimmed this quarter); held since Q1 2026
By sector
- Cloud & AI giants — $336.8M, 75% of its AI holdings, 5 companies
- AI software — $62.2M, 14% of its AI holdings, 3 companies
- Chips & compute — $42.6M, 10% of its AI holdings, 2 companies
- Equipment & test — $3.1M, 1% of its AI holdings, 1 company
- Power, electrical & cooling — $862,467.00, 0% of its AI holdings, 1 company
- Interconnect — $640,218.00, 0% of its AI holdings, 1 company
Biggest changes this quarter
- added to Amazon (AMZN): +$111.3M at the quarter's price
- added to NVIDIA (NVDA): +$36.5M at the quarter's price
- trimmed Meta Platforms (META): -$18.5M at the quarter's price
- trimmed Microsoft (MSFT): -$11.1M at the quarter's price
- trimmed Adobe (ADBE): -$6.3M at the quarter's price
- opened a position in ASML (ASML): +$3.1M at the quarter's price
- sold out of Intuit (INTU): -$1.4M at the quarter's price
- trimmed Alphabet (GOOGL): -$825,179.00 at the quarter's price
- trimmed ServiceNow (NOW): -$492,726.00 at the quarter's price
- trimmed Apple (AAPL): -$280,112.00 at the quarter's price