Saraza Management, LP
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Saraza Management, LP reported 14 stock positions worth $280.7 million. Its top holding was Taiwan Semiconductor-SP ADR (TSM) at 9.0% of the portfolio, followed by Microsoft (MSFT, 8.8%) and Amazon.com (AMZN, 8.2%). Compared with Q2 2025, it opened 2 new positions, sold out of 6, added to 1 and reduced 11. The biggest buy was a new position in LPL Financial (LPLA) and the biggest sale an exit from GE Healthcare Technology (GEHC).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001894188
- Portfolio Value
- $280.7M (Q3 2025)
- SEC Filing
- 0001894188-25-000014 ↗ filed Nov 14, 2025
Holdings Value
Holdings 14 stocks · $280.7M
| TSM Taiwan Semiconductor-SP ADR | 8.95% | 90,000 | $25.1M | Reduce -21.7% |
| MSFT Microsoft Corp. | 8.76% | 47,500 | $24.6M | Reduce -3.1% |
| AMZN Amazon.com Inc. | 8.21% | 105,000 | $23.1M | Reduce -1.4% |
| COF Capital One Financial Corp. | 7.95% | 105,000 | $22.3M | Reduce -16.0% |
| BN Brookfield Corp. | 7.94% | 325,000 | $22.3M | Reduce -31.6% |
| AON Aon PLC Class A | 7.94% | 62,500 | $22.3M | Reduce -23.6% |
| DHR Danaher Corp. | 7.77% | 110,000 | $21.8M | Reduce -15.4% |
| V Visa Inc. Class A | 7.30% | 60,000 | $20.5M | Add +50.0% |
| APH Amphenol Corp. Class A | 6.83% | 155,000 | $19.2M | Reduce -22.5% |
| ATI Ati Inc. | 6.09% | 210,000 | $17.1M | Reduce -31.1% |
| LPLA LPL Financial Holdings Inc. | 5.93% | 50,000 | $16.6M | New |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 5.70% | 1,000,000 | $16.0M | Reduce -36.9% |
| UNP Union Pacific Corp. | 5.39% | 64,000 | $15.1M | New |
| INTU Intuit Inc. | 5.23% | 21,500 | $14.7M | Reduce -46.3% |
Portfolio Sells Q2 2025 → Q3 2025
| GEHC GE Healthcare Technology | Sold out | 0.00% | −6.08 |
| CSX CSX Corp. | Sold out | 0.00% | −5.12 |
| TRU Transunion | Sold out | 0.00% | −4.36 |
| CPNG Coupang Inc. | Sold out | 0.00% | −4.16 |
| WDAY Workday Inc. Class A | Sold out | 0.00% | −4.14 |
| EXPE Expedia Group Inc. | Sold out | 0.00% | −4.12 |
| INTU Intuit Inc. | Reduce -46.3% | 5.23% | −2.38 |
| ATI Ati Inc. | Reduce -31.1% | 6.09% | −0.28 |
| NU Nu Holdings Ltd./Cayman Isl-A | Reduce -36.9% | 5.70% | +0.45 |
| BN Brookfield Corp. | Reduce -31.6% | 7.94% | +0.84 |
| AON Aon PLC Class A | Reduce -23.6% | 7.94% | +0.89 |
| COF Capital One Financial Corp. | Reduce -16.0% | 7.95% | +1.53 |
| DHR Danaher Corp. | Reduce -15.4% | 7.77% | +1.57 |
| APH Amphenol Corp. Class A | Reduce -22.5% | 6.83% | +2.06 |
| AMZN Amazon.com Inc. | Reduce -1.4% | 8.21% | +2.57 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -21.7% | 8.95% | +2.66 |
| MSFT Microsoft Corp. | Reduce -3.1% | 8.76% | +2.88 |
Portfolio Buys Q2 2025 → Q3 2025
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 |