Schwartz Investment Counsel portfolio

What changed this quarter

97 positions with a change (13 new, 27 added to, 48 trimmed, 9 sold). 10 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Silicon Motion Technology+49%more sharesIncreased
  3.0% → 3.9%
• Domino’s Pizza−99%fewer sharesReduced
  1.0% → under 0.1%
• Entegris−89%fewer sharesReduced
  1.1% → 0.1%
• TE Connectivity+764%more sharesIncreased
  0.1% → 0.8%
• Texas Pacific Land+15%more sharesIncreased
  6.0% → 5.4%
• Asml Holding+0.6 ppof portfolioNew
  — → 0.6%
• Texas Instruments−14%fewer sharesReduced
  4.6% → 3.9%
• Esab−0.6 ppof portfolioSold out
  0.6% → —
• LandBridge+31%more sharesIncreased
  1.7% → 2.4%
• Lowe's−31%fewer sharesReduced
  2.0% → 1.2%

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• NVIDIANVDA5.5%
• Texas Pacific LandTPL5.4%
• Texas InstrumentsTXN3.9%
• Silicon Motion TechnologySIMO3.9%
• Taiwan Semiconductor ManufacturingTSM3.7%
• VerisignVRSN3.5%
• HeicoHEI/A3.5%
• MastercardMA3.2%
• SharkninjaSN3.1%
• S&P GlobalSPGI2.8%
• Moody'sMCO2.4%
• LandBridgeLB2.4%
• Roper TechnologiesROP2.3%
• APi GroupAPG2.2%
• IntelINTC2.0%
• O Reilly AutomotiveORLY1.9%
• ChevronCVX1.9%
• Broadridge Financial SolutionsBR1.8%
• WaterBridge InfrastructureWBI1.6%
• FastenalFAST1.5%
• GFL EnvironmentalGFL1.4%
• Brown & BrownBRO1.4%
• XPELXPEL1.4%
• Expand EnergyEXE1.4%
• Diamondback EnergyFANG1.4%
• AptarGroupATR1.3%
• RB GlobalRBA1.3%
• Coca-cola Europacific PartnersCCEP1.2%
• Lowe'sLOW1.2%
• L3harris TechnologiesLHX1.2%
• Lockheed MartinLMT1.1%
• TD SynnexSNX1.1%
• Permian Basin RTY TrPBT1.0%
• Genuine PartsGPC1.0%
• Automatic Data ProcessingADP1.0%
• TJXTJX0.9%
• Franco NevadaFNV0.9%
• Tower SemiconductorTSEM0.9%
• TE ConnectivityTEL0.8%
• Wheaton Precious MetalsWPM0.8%
• A. O. SmithAOS0.8%
• Hingham Instn Svgs MassHIFS0.8%
• Quest DiagnosticsDGX0.7%
• Carlisle CompaniesCSL0.7%
• ASML HoldingASML0.6%
• SLBSLB0.6%
• Exxon MobilXOM0.6%
• IQVIA HoldingsIQV0.6%
• Intercontinental ExchangeICE0.6%
• Booking HoldingsBKNG0.6%
• St JOEJOE0.5%
• Stevanato Group S.p.A.STVN0.5%
• Shift4 PaymentsFOUR0.4%
• Armstrong World IndustriesAWI0.4%
• EagleRock LandEROK0.4%
• AllegionALLE0.4%
• Truist FinancialTFC0.4%
• Distribution Solutions GroupDSGR0.4%
• MSCIMSCI0.4%
• StandardAeroSARO0.4%
• QXOQXO0.4%
• WinmarkWINA0.4%
• Hawaiian Electric IndustriesHE0.3%
• RLIRLI0.3%
• AccentureACN0.3%
• SPDR Gold Shares ETFGLD0.3%
• Builders FirstsourceBLDR0.3%
• EatonETN0.3%
• CSW IndustrialsCSW0.3%
• Comfort Systems USAFIX0.3%
• Mirion TechnologiesMIR0.2%
• SBA CommunicationsSBAC0.2%
• Fidelity National FinancialFNF0.2%
• Hinge HealthHNGE0.2%
• SynopsysSNPS0.2%
• Western UnionWU0.2%
• YETI HoldingsYETI0.2%
• AlconALC0.2%
• KaroooooKARO0.2%
• BlackLineBL0.2%
• Occidental PetroleumOXY0.2%
• BrookfieldBN0.2%
• Brookfield Wealth SolutionsBNT0.1%
• Jack Henry & AssociatesJKHY0.1%
• Nu HoldingsNU0.1%
• Companhia De Saneamento Basico DO Estado De SAO Paulo-sabespSBS0.1%
• EntegrisENTG0.1%
• Vista Energy, S.A.B. de C.V.VIST0.1%
• DLocalDLO0.1%
• CME GroupCME0.1%
• Howmet AerospaceHWM0.1%
• Permian ResourcesPR0.1%
• United States Lime & MineralsUSLM0.1%
• Sonida Senior LivingSNDA0.1%
• POOLPOOL0.1%
• Hdfc BankHDB0.1%
• TIC SolutionsTIC0.1%
• AppleAAPL0.1%
• F&G Annuities & LifeFG0.1%
• Berkshire HathawayBRK/B0.1%