In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Saraza Management, LP reported 14 stock positions worth $385.4 million . Its top holding was Intl Flavors & Fragrances (IFF) at 26.0% of the portfolio, followed by Fomento Economico Mex-SP ADR (FMX, 11.7% ) and Amazon.com (AMZN, 8.2% ). Compared with Q4 2023, it opened 4 new positions, sold out of 5, added to 3 and reduced 6. The biggest buy was a new position in Aon Class A (AON) and the biggest sale an exit from Irhythm (IRTC).
Location NEW YORK, NY
CIK 0001894188
Portfolio Value $385.4M (Q1 2024) Holdings 14 stocks · $385.4M 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 Q4 2023 IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA 1,167,500 $100.4M Reduce -24.4% FMX Fomento Economico Mex-SP ADR 345,000 $44.9M Reduce -1.4% AMZN Amazon.com Inc. 175,000 $31.6M Add +16.7% ICE Intercontinental Exchange Inc. 180,000 $24.7M Reduce -18.2% CSX CSX Corp. 625,000 $23.2M Reduce -7.4% AON Aon PLC Class A 65,000 $21.7M New TRU Transunion 265,000 $21.1M Add +1.9% MSFT Microsoft Corp. 50,000 $21.0M No change GE General Electric 118,000 $20.7M New V Visa Inc. Class A 67,500 $18.8M Reduce -3.6% MCO Moody's Corp. 45,000 $17.7M Add +21.6% EPAM Epam Systems Inc. 52,500 $14.5M New SHW The Sherwin-Williams Co. 37,600 $13.1M Reduce -37.3% IT Gartner Inc. 25,000 $11.9M New
Options reported separately and not counted above: CSGP calls ($29.0M), IFF calls ($10.7M), SHW calls ($10.3M).
Portfolio Sells Q4 2023 → Q1 2024 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 Q4 2023 % Of Portfolio Change To Portfolio ▲ IRTC Irhythm Holdings Inc. Sold out 0.00% −8.75 HUM Humana Inc. Sold out 0.00% −4.28 MTN Vail Resorts Inc. Sold out 0.00% −3.87 IFF Intl Flavors & Fragrances Reduce -24.4% 26.05% −3.18 CSGP Costar Group Inc. Sold out 0.00% −3.17 FDX FedEx Corp. Sold out 0.00% −2.07 SHW The Sherwin-Williams Co. Reduce -37.3% 3.39% −0.98 ICE Intercontinental Exchange Inc. Reduce -18.2% 6.42% −0.18 CSX CSX Corp. Reduce -7.4% 6.01% +0.54 V Visa Inc. Class A Reduce -3.6% 4.89% +0.63 FMX Fomento Economico Mex-SP ADR Reduce -1.4% 11.66% +1.00
Portfolio Buys Q4 2023 → Q1 2024 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 Q4 2023 % Of Portfolio Change To Portfolio ▼ AON Aon PLC Class A New 5.63% +5.63 GE General Electric New 5.37% +5.37 EPAM Epam Systems Inc. New 3.76% +3.76 IT Gartner Inc. New 3.09% +3.09 AMZN Amazon.com Inc. Add +16.7% 8.19% +2.87 TRU Transunion Add +1.9% 5.49% +1.31 MCO Moody's Corp. Add +21.6% 4.59% +1.21
Options Activity Q4 2023 → Q1 2024 Security Type Change vs Q4 2023 Underlying Shares Value ▼ CSGP Costar Group Inc. call New 300,000 $29.0M IFF Intl Flavors & Fragrances call New 125,000 $10.7M SHW The Sherwin-Williams Co. call New 30,000 $10.3M
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