Managers / Q2 2025 · view latest →
Saraza Management, LP
CIK 0001894188 · 125 EAST 56TH STREET, 28TH FLOOR, NEW YORK, NY, 10022 · 646-860-0181
Summary
Saraza Management, LP reported $414M in U.S.-listed holdings across 18 positions for Q2 2025.
Its largest position, INTU, represents 7.6% of the portfolio.
Compared with Q1 2025, the fund opened 5 new positions and exited 9.
Portfolio Metrics
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
Portfolio Composition
- Common Stock · 81.4% · $337M
- Other · 12.3% · $51M
- ADR · 6.3% · $26M
Quarter-over-Quarter Changes full breakdown →
vs Q1 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| ATDATI INC | NEW | +305.0K | 305.0K | +$26M | $26M |
| GEHCGE HEALTHCARE TECHNOLOGIES I | NEW | +340.0K | 340.0K | +$25M | $25M |
| AMZNAMAZON COM INC | NEW | +106.5K | 106.5K | +$23M | $23M |
| CSXCSX CORP | NEW | +650.0K | 650.0K | +$21M | $21M |
| VVISA INC | NEW | +40.0K | 40.0K | +$14M | $14M |
| NU HLDGS LTD | ADDED | +910.0K | 1.58M | +$15M | $22M |
| WSTWEST PHARMACEUTICAL SVSC INC | SOLD OUT | −110.0K | 0 | −$25M | $0 |
| AMAZON COM INC | SOLD OUT | −115.0K | 0 | −$22M | $0 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q2 2025
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | INTUINTUIThistory → | COM | 7.61% | $32M | 40.0K |
| 2 | BNBROOKFIELD CORPhistory → | CL A LTD VT SH | 7.10% | $29M | 475.0K |
| 3 | AON PLC | SHS CL A | 7.04% | $29M | 81.8K |
| 4 | COFCAPITAL ONE FINL CORPhistory → | COM | 6.42% | $27M | 125.0K |
| 5 | ATDATI INChistory → | COM | 6.36% | $26M | 305.0K |
| 6 | TSMTAIWAN SEMICONDUCTOR MFG LTDhistory → | SPONSORED ADS | 6.29% | $26M | 115.0K |
| 7 | DHRDANAHER CORPORATIONhistory → | COM | 6.20% | $26M | 130.0K |
| 8 | GEHCGE HEALTHCARE TECHNOLOGIES Ihistory → | COMMON STOCK | 6.08% | $25M | 340.0K |
| 9 | MSFTMICROSOFT CORPhistory → | COM | 5.89% | $24M | 49.0K |
| 10 | AMZNAMAZON COM INChistory → | COM | 5.64% | $23M | 106.5K |
| 11 | NU HLDGS LTD | ORD SHS CL A | 5.25% | $22M | 1.58M |
| 12 | CSXCSX CORPhistory → | COM | 5.12% | $21M | 650.0K |
| 13 | APHAMPHENOL CORP NEWhistory → | CL A | 4.77% | $20M | 200.0K |
| 14 | TRUTRANSUNIONhistory → | COM | 4.36% | $18M | 205.0K |
| 15 | CPNGCOUPANG INChistory → | CL A | 4.16% | $17M | 575.0K |
| 16 | WDAYWORKDAY INChistory → | CL A | 4.14% | $17M | 71.5K |
| 17 | EXPEEXPEDIA GROUP INChistory → | COM NEW | 4.12% | $17M | 101.0K |
| 18 | VVISA INChistory → | COM CL A | 3.43% | $14M | 40.0K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $239M | 20 | May 14, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $259M | 15 | Feb 13, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $281M | 14 | Nov 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $414M | 18 | Aug 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $335M | 22 | May 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $359M | 17 | Feb 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | Under review | 17 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | Under review | 13 | Aug 13, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $435M | 17 | May 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | Under review | 15 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | Under review | 11 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $604M | 9 | May 12, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $756M | 8 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $662M | 5 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $788M | 3 | Jul 25, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $891M | 4 | May 16, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $1.1B | 5 | Feb 14, 2022 | 13F-HR | changes · 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 ↗.