In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Saraza Management, LP reported 18 stock positions worth $238.9 million . Its top holding was Visa Class A (V) at 8.2% of the portfolio, followed by Taiwan Semiconductor-SP ADR (TSM, 7.5% ) and Capital One Financial (COF, 7.5% ). Compared with Q1 2026, it opened 2 new positions, sold out of 4, added to 7 and reduced 9. The biggest buy was a new position in Seagate Technology (STX) and the biggest sale an exit from Waste Connections (WCN).
Location NEW YORK, NY
CIK 0001894188
Portfolio Value $238.9M (Q2 2026) Holdings 18 stocks · $238.9M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q1 2026 V Visa Inc. Class A 57,160 $19.6M Reduce -14.5% TSM Taiwan Semiconductor-SP ADR 37,450 $17.9M Reduce -16.6% COF Capital One Financial Corp. 89,000 $17.9M Add +3.1% AON Aon PLC Class A 50,650 $16.8M Reduce -11.6% BN Brookfield Corp. 394,150 $16.8M Reduce -12.7% JCI Johnson Controls Internation 109,750 $16.0M Add +10.4% APH Amphenol Corp. Class A 89,750 $15.8M Reduce -14.7% AMZN Amazon.com Inc. 59,500 $14.2M Reduce -18.5% NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 1,017,000 $13.6M Add +8.2% CPNG Coupang Inc. 717,500 $12.5M Add +16.0% ADI Analog Devices Inc. 30,700 $12.2M Add +3.8% MSFT Microsoft Corp. 30,725 $11.5M Reduce -9.7% NVDA Nvidia Corp. 56,500 $11.3M Add +21.4% ARES Ares Management Corp. Class A 95,800 $10.7M Add +59.8% STX Seagate Technology Holdings 10,390 $10.0M New UNP Union Pacific Corp. 30,000 $8.2M New SITM Sitime Corp. 9,650 $7.2M Reduce -49.9% LPLA LPL Financial Holdings Inc. 24,500 $6.9M Reduce -29.2%
Options reported separately and not counted above: AMAZON COM INC calls ($11.9M).
Portfolio Sells Q1 2026 → Q2 2026 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2026 % Of Portfolio Change To Portfolio ▲ WCN Waste Connections Inc. Sold out 0.00% −6.65 INTU Intuit Inc. Sold out 0.00% −3.03 MLM Martin Marietta Materials Sold out 0.00% −2.68 LPLA LPL Financial Holdings Inc. Reduce -29.2% 2.89% −1.47 AON Aon PLC Class A Reduce -11.6% 7.03% −0.72 BN Brookfield Corp. Reduce -12.7% 7.03% −0.63 MSFT Microsoft Corp. Reduce -9.7% 4.80% −0.48 AMZN Amazon.com Inc. Reduce -18.5% 5.94% −0.44 NOK Nokia Corp.-Spon ADR Sold out 0.00% −0.35 V Visa Inc. Class A Reduce -14.5% 8.21% −0.26 SITM Sitime Corp. Reduce -49.9% 3.01% +0.23 APH Amphenol Corp. Class A Reduce -14.7% 6.62% +1.06 TSM Taiwan Semiconductor-SP ADR Reduce -16.6% 7.49% +1.13
Portfolio Buys Q1 2026 → Q2 2026 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2026 % Of Portfolio Change To Portfolio ▼ STX Seagate Technology Holdings New 4.20% +4.20 UNP Union Pacific Corp. New 3.42% +3.42 ARES Ares Management Corp. Class A Add +59.8% 4.46% +1.72 NVDA Nvidia Corp. Add +21.4% 4.73% +1.33 JCI Johnson Controls Internation Add +10.4% 6.71% +1.26 ADI Analog Devices Inc. Add +3.8% 5.10% +1.16 COF Capital One Financial Corp. Add +3.1% 7.47% +0.87 CPNG Coupang Inc. Add +16.0% 5.22% +0.32 NU Nu Holdings Ltd./Cayman Isl-A Add +8.2% 5.69% +0.03
Options Activity Q1 2026 → Q2 2026 Security Type Change vs Q1 2026 Underlying Shares Value ▼ AMAZON COM INC call New 50,000 $11.9M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 18 $238.9M V, TSM, COF, AON, BN Q1 2026 20 $238.6M V, AON, BN, WCN, COF Q4 2025 15 $259.0M V, AON, MSFT, BN, AMZN Q3 2025 14 $280.7M TSM, MSFT, AMZN, COF, BN Q2 2025 18 $414.0M INTU, BN, AON, COF, ATI Q1 2025 21 $328.3M BN, WST, DHR, COF, MSFT Q4 2024 17 $358.6M IFF, COF, AON, GE, MSFT Q3 2024 17 $345.4M IFF, AMZN, V, ICE, BKNG Q2 2024 12 $300.4M IFF, FMX, AMZN, ICE, V Q1 2024 14 $385.4M IFF, FMX, AMZN, ICE, CSX