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Saraza Management, LP

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13F filer, CIK 1894188, NEW YORK, NY

Saraza Management, LP reported $258,986,175 across 15 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-13. Its ten largest share positions make up 74.16% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001894188-26-000002

Period
2025-12-31
Reported value
$259M
Holdings
15
Top 10 weight
74.16%
New
2
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
WCNnew+99,750$17.5M
JCInew+120,500$14.4M
BNadded+133,500$6.13M
Vadded+6,800$2.38M
AONadded+2,200$776K

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
UNPexited-64,000-$15.1M
ATIreduced-107,500-$12.3M
TSMreduced-37,750-$11.5M
COFreduced-36,000-$8.72M
DHRreduced-34,750-$7.95M

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, Q4 2025

Share positions as resolved from 13F-HR 0001894188-26-000002, largest first. % of portfolio is the value over $258,986,175, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
VVISA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 92,500 shares; 2024Q4: 70,000 shares; 2025Q1: not reported; 2025Q2: 40,000 shares; 2025Q3: 60,000 shares; 2025Q4: 66,800 shares 66,800$23.4M9.05%+6,800Timeline
AONAON PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 60,000 shares; 2024Q4: 75,000 shares; 2025Q1: 51,500 shares; 2025Q2: 81,750 shares; 2025Q3: 62,500 shares; 2025Q4: 64,700 shares 64,700$22.8M8.82%+2,200Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 45,000 shares; 2024Q4: 59,000 shares; 2025Q1: 60,000 shares; 2025Q2: 49,000 shares; 2025Q3: 47,500 shares; 2025Q4: 44,750 shares 44,750$21.6M8.36%-2,750Timeline
BNBROOKFIELD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 490,000 shares; 2025Q2: 475,000 shares; 2025Q3: 325,000 shares; 2025Q4: 458,500 shares 458,500$21M8.12%+133,500Timeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 187,500 shares; 2024Q4: 104,000 shares; 2025Q1: not reported; 2025Q2: 106,500 shares; 2025Q3: 105,000 shares; 2025Q4: 89,000 shares 89,000$20.5M7.93%-16,000Timeline
WCNWASTE CONNECTIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 99,750 shares 99,750$17.5M6.75%newTimeline
DHRDANAHER CORP DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 115,000 shares; 2025Q2: 130,000 shares; 2025Q3: 110,000 shares; 2025Q4: 75,250 shares 75,250$17.2M6.65%-34,750Timeline
COFCAPITAL ONE FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 155,000 shares; 2025Q1: 131,000 shares; 2025Q2: 125,000 shares; 2025Q3: 105,000 shares; 2025Q4: 69,000 shares 69,000$16.7M6.46%-36,000Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 107,500 shares; 2024Q4: 117,500 shares; 2025Q1: 129,000 shares; 2025Q2: 115,000 shares; 2025Q3: 90,000 shares; 2025Q4: 52,250 shares 52,250$15.9M6.13%-37,750Timeline
APHAMPHENOL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 205,000 shares; 2025Q1: 197,500 shares; 2025Q2: 200,000 shares; 2025Q3: 155,000 shares; 2025Q4: 113,000 shares 113,000$15.3M5.9%-42,000Timeline
LPLALPL FINL HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 500 shares; 2025Q2: not reported; 2025Q3: 50,000 shares; 2025Q4: 41,400 shares 41,400$14.8M5.71%-8,600Timeline
NUNU HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 675,000 shares; 2025Q2: 1,585,000 shares; 2025Q3: 1,000,000 shares; 2025Q4: 866,500 shares 866,500$14.5M5.6%-133,500Timeline
JCIJOHNSON CONTROLS INTERNATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 120,500 shares 120,500$14.4M5.57%newTimeline
ATIATI INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 250,000 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 305,000 shares; 2025Q3: 210,000 shares; 2025Q4: 102,500 shares 102,500$11.8M4.54%-107,500Timeline
INTUINTUITQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 28,500 shares; 2024Q4: 31,500 shares; 2025Q1: 30,000 shares; 2025Q2: 40,000 shares; 2025Q3: 21,500 shares; 2025Q4: 17,250 shares 17,250$11.4M4.41%-4,250Timeline

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
UNPUNION PAC CORP64,000$15.1Mshares

How Q4 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 0001894188-26-000002 base2026-02-13acceptance time not in the bulk data set