SEC 13F Intelligence

Managers / Q1 2023 · view latest →

Saraza Management, LP

CIK 0001894188 · 125 EAST 56TH STREET, 28TH FLOOR, NEW YORK, NY, 10022 · 646-860-0181

Reported Value
$604M
Q1 2023
Positions
9
Filings on Record
18
2019–present window
Filed
May 12, 2023
original filing

Summary

Saraza Management, LP reported $604M in U.S.-listed holdings across 9 positions for Q1 2023.

The portfolio is heavily concentrated: IFF alone accounts for 62.5% of reported value.

Compared with Q4 2022, the fund opened 3 new positions and exited 2.

Portfolio Metrics

Turnover
+5.5%
vs prior filed quarter
Largest Position
+62.5%
International Flavors Fragra
New / Exited
3 / 2
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’21: $1.1BQ4 ’21Q1 ’22: $891MQ2 ’22: $788MQ2 ’22Q3 ’22: $662MQ4 ’22: $756MQ4 ’22Q1 ’23: $604MQ1 ’24: $435MQ1 ’24Q4 ’24: $359MQ1 ’25: $335MQ1 ’25Q2 ’25: $414MQ3 ’25: $281MQ3 ’25Q4 ’25: $259MQ1 ’26: $239MQ1 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 94.2%ADR: 5.4%Other: 0.4%
  • Common Stock · 94.2% · $569M
  • ADR · 5.4% · $33M
  • Other · 0.4% · $3M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ICEINTERCONTINENTAL EXCHANGE INNEW+110.0K110.0K+$11M$11M
MTNVAIL RESORTS INCNEW+40.0K40.0K+$9M$9M
IRHYTHM TECHNOLOGIES INCNEW+200200+$3M$3M
INTERNATIONAL FLAVORS&FRAGRASOLD OUT−6.5K0−$72M$0
BBWIBATH & BODY WORKS INCSOLD OUT−400.0K0−$17M$0
FISFIDELITY NATL INFORMATION SVTRIMMED−160.0K125.0K−$13M$7M
ATVIEURACTIVISION BLIZZARD INCADDED+45.0K230.0K+$6M$20M
IRTCIRHYTHM TECHNOLOGIES INCTRIMMED−295.0K985.0K+$2M$122M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2023

8 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1IFFINTERNATIONAL FLAVORS&FRAGRAhistory →COM62.55%$378M4.11M
2IRTCIRHYTHM TECHNOLOGIES INChistory →COM20.22%$122M985.0K
3FMXFOMENTO ECONOMICO MEXICANO Shistory →SPON ADR UNITS5.38%$33M341.5K
4INTUINTUIThistory →COM3.62%$22M49.0K
5ATVIEURACTIVISION BLIZZARD INChistory →COM3.26%$20M230.0K
6ICEINTERCONTINENTAL EXCHANGE INhistory →COM1.90%$11M110.0K
7MTNVAIL RESORTS INChistory →COM1.55%$9M40.0K
8FISFIDELITY NATL INFORMATION SVhistory →COM1.12%$7M125.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$239M20May 14, 202613F-HRchanges · EDGAR ↗
Q4 2025$259M15Feb 13, 202613F-HRchanges · EDGAR ↗
Q3 2025$281M14Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$414M18Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$335M22May 14, 202513F-HRchanges · EDGAR ↗
Q4 2024$359M17Feb 13, 202513F-HRchanges · EDGAR ↗
Q3 2024Under review17Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024Under review13Aug 13, 202413F-HRchanges · EDGAR ↗
Q1 2024$435M17May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023Under review15Feb 14, 202413F-HRchanges · EDGAR ↗
Q2 2023Under review11Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$604M9May 12, 202313F-HRchanges · EDGAR ↗
Q4 2022$756M8Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$662M5Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$788M3Jul 25, 202213F-HRchanges · EDGAR ↗
Q1 2022$891M4May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$1.1B5Feb 14, 202213F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.