Scharf ETF (KAT)

The Scharf ETF (KAT) is an actively managed equity fund from Scharf Investments, an investment firm based in California. It seeks long-term capital appreciation by investing primarily in stocks of established companies.

Scharf follows a disciplined, value-oriented approach, looking for businesses with durable competitive positions, solid balance sheets and the ability to grow earnings, that trade at reasonable prices relative to the firm's estimate of their worth. The portfolio is typically concentrated in a relatively small number of holdings selected through fundamental research.

The fund's approach emphasizes downside awareness and long holding periods, and its sector weights can differ meaningfully from broad market indexes because positions are chosen company by company.