In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 13, 2024), Saraza Management, LP reported 12 stock positions worth $300.4 million . Its top holding was Intl Flavors & Fragrances (IFF) at 23.3% of the portfolio, followed by Fomento Economico Mex-SP ADR (FMX, 10.8% ) and Amazon.com (AMZN, 10.3% ). Compared with Q1 2024, it opened 2 new positions, sold out of 4, added to 4 and reduced 6. The biggest buy was a new position in Intuit (INTU) and the biggest sale an exit from Microsoft (MSFT).
Location NEW YORK, NY
CIK 0001894188
Portfolio Value $300.4M (Q2 2024) Holdings 12 stocks · $300.4M 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 Q1 2024 IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA 735,000 $70.0M Reduce -37.0% FMX Fomento Economico Mex-SP ADR 302,000 $32.5M Reduce -12.5% AMZN Amazon.com Inc. 160,000 $30.9M Reduce -8.6% ICE Intercontinental Exchange Inc. 188,600 $25.8M Add +4.8% V Visa Inc. Class A 89,000 $23.4M Add +31.9% AON Aon PLC Class A 72,500 $21.3M Add +11.5% CSX CSX Corp. 600,000 $20.1M Reduce -4.0% TRU Transunion 260,000 $19.3M Reduce -1.9% GE General Electric filed as GE AEROSPACE 112,500 $17.9M Reduce -4.7% SHW The Sherwin-Williams Co. 52,500 $15.7M Add +39.6% INTU Intuit Inc. 22,500 $14.8M New WEX Wex Inc. 50,000 $8.9M New
Options reported separately and not counted above: APPLE INC calls ($50.5M).
Portfolio Sells Q1 2024 → Q2 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 Q1 2024 % Of Portfolio Change To Portfolio ▲ MSFT Microsoft Corp. Sold out 0.00% −5.46 MCO Moody's Corp. Sold out 0.00% −4.59 EPAM Epam Systems Inc. Sold out 0.00% −3.76 IT Gartner Inc. Sold out 0.00% −3.09 IFF Intl Flavors & Fragrances Reduce -37.0% 23.29% −2.76 FMX Fomento Economico Mex-SP ADR Reduce -12.5% 10.82% −0.84 GE General Electric Reduce -4.7% 5.95% +0.58 CSX CSX Corp. Reduce -4.0% 6.68% +0.67 TRU Transunion Reduce -1.9% 6.42% +0.93 AMZN Amazon.com Inc. Reduce -8.6% 10.29% +2.10
Portfolio Buys Q1 2024 → Q2 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 Q1 2024 % Of Portfolio Change To Portfolio ▼ INTU Intuit Inc. New 4.92% +4.92 WEX Wex Inc. New 2.95% +2.95 V Visa Inc. Class A Add +31.9% 7.78% +2.89 ICE Intercontinental Exchange Inc. Add +4.8% 8.59% +2.17 SHW The Sherwin-Williams Co. Add +39.6% 5.22% +1.83 AON Aon PLC Class A Add +11.5% 7.09% +1.46
Options Activity Q1 2024 → Q2 2024 Security Type Change vs Q1 2024 Underlying Shares Value ▼ APPLE INC call New 240,000 $50.5M CSGP Costar Group Inc. call Sold out 300,000 $29.0Mbefore exit IFF Intl Flavors & Fragrances call Sold out 125,000 $10.7Mbefore exit SHW The Sherwin-Williams Co. call Sold out 30,000 $10.3Mbefore exit
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