CIK: 0001894188
Total reported value
$238.6M
Reporting period: 2026-03-31 · Number of holdings: 20
Saraza Management, LP disclosed 20 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $238.6M and a quarterly turnover rate of 48.1%.
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Saraza Management, LP's disclosed holdings carry a Herfindahl concentration index of 0.058 — mathematically equivalent to about 17 equally-sized positions, close to its 20 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.41), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 4.1 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Trim MSFT
-24.0% -$9.0M
Trim AMZN
-18.0% -$5.3M
Trim INTU
-3.0% -$4.2M
Trim LPLA
-16.4% -$4.4M
Trim AON
-11.4% -$4.3M
Trim V
+0.1% -$3.2M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | V | Visa Inc-class A Shares | Stock-Financials | 8.47% | -0.58% | +0.07% | |
| 2 | AON | Aon plc | Stock-Financials | 7.75% | -1.07% | -11.40% | |
| 3 | BN | Brookfield CORP | Stock-Financials | 7.66% | -0.46% | -1.53% | |
| 4 | WCN | Waste Connections INC | Stock-Industrials | 6.65% | -0.10% | -2.06% | |
| 5 | COF | Capital One Financial CORP | Stock-Financials | 6.60% | +0.14% | +25.07% | |
| 6 | AMZN | Amazon.com INC | Stock-Consumer Disc | 6.37% | -1.56% | -17.98% | |
| 7 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 6.36% | +0.23% | -14.11% | |
| 8 | NU | Nu Holdings Ltd. | Stock-Financials | 5.66% | +0.06% | +8.48% | |
| 9 | APH | Amphenol Corp-cl A | Stock-Tech | 5.57% | -0.33% | -6.95% | |
| 10 | JNJ | Johnson & Johnson | Stock-Healthcare | 5.46% | -0.11% | -17.51% | |
| 11 | MSFT | Microsoft CORP | Stock-Tech | 5.28% | -3.08% | -23.97% | |
| 12 | CPNG | Coupang INC | Stock-Consumer Disc | 4.89% | +4.89% | NEW | |
| 13 | LPLA | Lpl Financial Holdings INC | Stock-Financials | 4.36% | -1.35% | -16.43% | |
| 14 | ADI | Analog Devices INC | Stock-Tech | 3.94% | +3.94% | NEW | |
| 15 | NVDA | Nvidia CORP | Stock-Tech | 3.40% | +3.40% | NEW | |
| 16 | INTU | Intuit INC | Stock-Tech | 3.03% | -1.38% | -3.04% | |
| 17 | SITM | Sitime CORP | Stock-Tech | 2.79% | +2.79% | NEW | |
| 18 | ARES | Ares Management CORP - A | Stock-Financials | 2.74% | +2.74% | NEW | |
| 19 | MLM | Martin Marietta Materials | Stock-Materials | 2.68% | +2.68% | NEW | |
| 20 | NOK | Nokia Corp-spon Adr | Stock-Tech | 0.35% | +0.35% | NEW |
Performance for Q3 2026
0%
Performance Last 4 Quarters
+9.5%
Based on 73% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 20 | $238.6M | 48 | |
| 2025-12-31 | 15 | $259.0M | 34 | |
| 2025-09-30 | 14 | $280.7M | 82 | |
| 2025-06-30 | 18 | $414.0M | 0 | |
| 2025-03-31 | 22 | $334.9M | 0 | |
| 2024-12-31 | 17 | $358.6M | 0 | |
| 2024-09-30 | 17 | $345.4M | 0 | |
| 2024-06-30 | 13 | $351.0M | 0 | |
| 2024-03-31 | 17 | $435.4M | 0 | |
| 2023-12-31 | 15 | $427.9M | 0 | |
| 2023-09-30 | 14 | $454.9M | 0 | |
| 2023-06-30 | 11 | $592.3M | 0 | |
| 2023-03-31 | 9 | $604.3M | 0 | |
| 2022-12-31 | 8 | $756.3M | 0 | |
| 2022-09-30 | 5 | $661.8M | 0 | |
| 2022-06-30 | 3 | $788.4M | 0 | |
| 2022-03-31 | 4 | $891.2M | 0 | |
| 2021-12-31 | 5 | $1.1B | 0 |
Saraza Management, LP's most significant position changes for 2026-03-31: Sold out: Danaher CORP (DHR); Sold out: Ati INC (ATI); New buy: Coupang INC (CPNG); New buy: Analog Devices INC (ADI); New buy: Nvidia CORP (NVDA).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | TSM | Taiwan Semiconductor-sp Adr | +0.2% | -14.11% | Trim |
| 2 | COF | Capital One Financial CORP | +0.1% | +25.07% | Add |
| 3 | NU | Nu Holdings Ltd. | +0.1% | +8.48% | Add |
| 4 | WCN | Waste Connections INC | -0.1% | -2.06% | Trim |
| 5 | JNJ | Johnson & Johnson | -0.1% | -17.51% | Trim |
| 6 | APH | Amphenol Corp-cl A | -0.3% | -6.95% | Trim |
| 7 | BN | Brookfield CORP | -0.5% | -1.53% | Trim |
| 8 | V | Visa Inc-class A Shares | -0.6% | +0.07% | Add |
| 9 | AON | Aon plc | -1.1% | -11.40% | Trim |
| 10 | LPLA | Lpl Financial Holdings INC | -1.4% | -16.43% | Trim |
| 11 | INTU | Intuit INC | -1.4% | -3.04% | Trim |
| 12 | AMZN | Amazon.com INC | -1.6% | -17.98% | Trim |
| 13 | MSFT | Microsoft CORP | -3.1% | -23.97% | Trim |
| 14 | DHR | Danaher CORP | — | EXIT | Sold out |
| 15 | ATI | Ati INC | — | EXIT | Sold out |
| 16 | CPNG | Coupang INC | — | NEW | New buy |
| 17 | ADI | Analog Devices INC | — | NEW | New buy |
| 18 | NVDA | Nvidia CORP | — | NEW | New buy |
| 19 | SITM | Sitime CORP | — | NEW | New buy |
| 20 | ARES | Ares Management CORP - A | — | NEW | New buy |
| 21 | MLM | Martin Marietta Materials | — | NEW | New buy |
| 22 | NOK | Nokia Corp-spon Adr | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-14 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-13 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-14 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-13 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-13 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-15 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-14 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-14 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-12 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-14 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-07-25 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-16 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-14 | 13F-HR | View on EDGAR |
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