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Saraza Management, LP

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13F filer, CIK 1894188, NEW YORK, NY

Saraza Management, LP reported $280,698,020 across 14 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 77.75% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001894188-25-000014

Period
2025-09-30
Reported value
$281M
Holdings
14
Top 10 weight
77.75%
New
2
Sold out
6

Largest buys vs the previous quarter

SecurityShares changeApprox. value
LPLAnew+50,000$16.6M
UNPnew+64,000$15.1M
Vadded+20,000$6.83M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
GEHCexited-340,000-$25.2M
CSXexited-650,000-$21.2M
TRUexited-205,000-$18M
CPNGexited-575,000-$17.2M
WDAYexited-71,500-$17.2M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0001894188-25-000014, largest first. % of portfolio is the value over $280,698,020, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 107,500 shares; 2024Q4: 117,500 shares; 2025Q1: 129,000 shares; 2025Q2: 115,000 shares; 2025Q3: 90,000 shares 90,000$25.1M8.95%-25,000Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 45,000 shares; 2024Q4: 59,000 shares; 2025Q1: 60,000 shares; 2025Q2: 49,000 shares; 2025Q3: 47,500 shares 47,500$24.6M8.76%-1,500Timeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 187,500 shares; 2024Q4: 104,000 shares; 2025Q1: not reported; 2025Q2: 106,500 shares; 2025Q3: 105,000 shares 105,000$23.1M8.21%-1,500Timeline
COFCAPITAL ONE FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 155,000 shares; 2025Q1: 131,000 shares; 2025Q2: 125,000 shares; 2025Q3: 105,000 shares 105,000$22.3M7.95%-20,000Timeline
BNBROOKFIELD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 490,000 shares; 2025Q2: 475,000 shares; 2025Q3: 325,000 shares 325,000$22.3M7.94%-150,000Timeline
AONAON PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 60,000 shares; 2024Q4: 75,000 shares; 2025Q1: 51,500 shares; 2025Q2: 81,750 shares; 2025Q3: 62,500 shares 62,500$22.3M7.94%-19,250Timeline
DHRDANAHER CORP DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 115,000 shares; 2025Q2: 130,000 shares; 2025Q3: 110,000 shares 110,000$21.8M7.77%-20,000Timeline
VVISA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 92,500 shares; 2024Q4: 70,000 shares; 2025Q1: not reported; 2025Q2: 40,000 shares; 2025Q3: 60,000 shares 60,000$20.5M7.3%+20,000Timeline
APHAMPHENOL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 205,000 shares; 2025Q1: 197,500 shares; 2025Q2: 200,000 shares; 2025Q3: 155,000 shares 155,000$19.2M6.83%-45,000Timeline
ATIATI INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 250,000 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 305,000 shares; 2025Q3: 210,000 shares 210,000$17.1M6.09%-95,000Timeline
LPLALPL FINL HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 500 shares; 2025Q2: not reported; 2025Q3: 50,000 shares 50,000$16.6M5.93%newTimeline
NUNU HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 675,000 shares; 2025Q2: 1,585,000 shares; 2025Q3: 1,000,000 shares 1,000,000$16M5.7%-585,000Timeline
UNPUNION PAC CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 64,000 shares 64,000$15.1M5.39%newTimeline
INTUINTUITQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 28,500 shares; 2024Q4: 31,500 shares; 2025Q1: 30,000 shares; 2025Q2: 40,000 shares; 2025Q3: 21,500 shares 21,500$14.7M5.23%-18,500Timeline

Sold out in Q3 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
GEHCGE HEALTHCARE TECHNOLOGIES I340,000$25.2Mshares
CSXCSX CORP650,000$21.2Mshares
TRUTRANSUNION205,000$18Mshares
CPNGCOUPANG INC575,000$17.2Mshares
WDAYWORKDAY INC71,500$17.2Mshares
EXPEEXPEDIA GROUP INC101,000$17Mshares

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001894188-25-000014 base2025-11-14acceptance time not in the bulk data set