Saraza Management, LP
NEW YORK, NY
$239m in 18 US stocks at the end of 30 June 2026. The top 10 are 67.4% of the money. It changed about 16.7% of the portfolio this quarter.
Value
$239m
Stocks
18
Top 10 share
67.4%
Turnover
16.7%
What changed this quarter
New
Bought for the first time this quarter.
- Seagate Technology HoldingsSTX4.2% of the fund
- Union PacificUNP3.4% of the fund
Added
Bought more of a stock they already held.
- Capital One FinancialCOF7.5% of the fund+3%
- Johnson Controls InternationalJCI6.7% of the fund+10%
- Nu HoldingsNU5.7% of the fund+8%
- CoupangCPNG5.2% of the fund+16%
- Analog DevicesADI5.1% of the fund+4%
- NvidiaNVDA4.7% of the fund+21%
- Ares ManagementARES4.5% of the fund+60%
Cut
Sold some of their stake.
- VisaV8.2% of the fund-14%
- Taiwan Semiconductor ManufacturingTSM7.5% of the fund-17%
- AonAON7.0% of the fund-12%
- BrookfieldBN7.0% of the fund-13%
- AmphenolAPH6.6% of the fund-15%
- Amazon.comAMZN5.9% of the fund-18%
- MicrosoftMSFT4.8% of the fund-10%
- SitimeSITM3.0% of the fund-50%
- LPL Financial HoldingsLPLA2.9% of the fund-29%
Sold out
Sold their entire stake.
- Waste ConnectionsWCN-100%
- IntuitINTU-100%
- Martin Marietta MaterialsMLM-100%
- NokiaNOK-100%
Holdings
- BrookfieldBN
- Share
- 7.0%
- Value
- $17m
- Shares
- 394,150
-13%
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| VisaV | 8.2% | $20m | 57,160 | -14% |
| Taiwan Semiconductor ManufacturingTSM | 7.5% | $18m | 37,450 | -17% |
| Capital One FinancialCOF | 7.5% | $18m | 89,000 | +3% |
| AonAON | 7.0% | $17m | 50,650 | -12% |
| BrookfieldBN | 7.0% | $17m | 394,150 | -13% |
| Johnson Controls InternationalJCI | 6.7% | $16m | 109,750 | +10% |
| AmphenolAPH | 6.6% | $16m | 89,750 | -15% |
| Amazon.comAMZN | 5.9% | $14m | 59,500 | -18% |
| Nu HoldingsNU | 5.7% | $14m | 1,017,000 | +8% |
| CoupangCPNG | 5.2% | $12m | 717,500 | +16% |
| Analog DevicesADI | 5.1% | $12m | 30,700 | +4% |
| MicrosoftMSFT | 4.8% | $11m | 30,725 | -10% |
| NvidiaNVDA | 4.7% | $11m | 56,500 | +21% |
| Ares ManagementARES | 4.5% | $11m | 95,800 | +60% |
| Seagate Technology HoldingsSTX | 4.2% | $10m | 10,390 | New |
| Union PacificUNP | 3.4% | $8m | 30,000 | New |
| SitimeSITM | 3.0% | $7m | 9,650 | -50% |
| LPL Financial HoldingsLPLA | 2.9% | $7m | 24,500 | -29% |
Options (1)
- Amazon.com
- Type
- Call
- Value
- $12m
- Contracts
- 50,000
| Company | Type | Value | Contracts |
|---|---|---|---|
| Amazon.com | Call | $12m | 50,000 |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is down 42.3% since 30 June 2025.
Where the money is
Technology35.9%
Financial services35.7%
Retail & consumer11.2%
Industrials10.1%
Real estate7.0%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.