Nathaniel Simons - Meritage Group 13F Activity & Position Changes (Q2 2025)

According to the SEC 13F filed on Aug 13, 2025, the Meritage Group portfolio showed several notable changes in holdings as of quarter-end Jun 30, 2025. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q2 2025, the filing reported:

New Buys - MSCI Inc., SPDR S&P 500

Increases - Amazon.com, Inc., Capital One Financial Corporati, Tempur Sealy International, Inc, TransUnion

Reductions - Agilent Technologies, Inc., Airbnb, Inc., Analog Devices, Inc., Microsoft Corporation, Procore Technologies, Inc., and 2 more

Complete Exits - Autodesk, Inc., Canadian Pacific Kansas City Li, Dollar Tree, Inc., Equifax, Inc., Microchip Technology Incorporat, and 1 more

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q2 2025	A Agilent Technologies, Inc.	Agilent Technologies, Inc.	Sell	-8,995	-0.7%	$156.48M	1,325,963
Q2 2025	ABNB Airbnb, Inc.	Airbnb, Inc.	Sell	-7,891	-0.6%	$166.96M	1,261,608
Q2 2025	ADI Analog Devices, Inc.	Analog Devices, Inc.	Sell	-2,877	-0.7%	$94.68M	397,768
Q2 2025	ADSK Autodesk, Inc.	Autodesk, Inc.	Sell - Position Exit	-1,138,082	-100.0%	$0.00	-
Q2 2025	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Buy	+552,967	+32.4%	$495.46M	2,258,356
Q2 2025	COF Capital One Financial Corporati	Capital One Financial Corporati	Buy	+253,239	+12.3%	$493.35M	2,318,833
Q2 2025	CP Canadian Pacific Kansas City Li	Canadian Pacific Kansas City Li	Sell - Position Exit	-3,773,482	-100.0%	$0.00	-
Q2 2025	DLTR Dollar Tree, Inc.	Dollar Tree, Inc.	Sell - Position Exit	-58,257	-100.0%	$0.00	-
Q2 2025	EFX Equifax, Inc.	Equifax, Inc.	Sell - Position Exit	-402,901	-100.0%	$0.00	-
Q2 2025	MCHP Microchip Technology Incorporat	Microchip Technology Incorporat	Sell - Position Exit	-2,999,177	-100.0%	$0.00	-
Q2 2025	MSCI MSCI Inc.	MSCI Inc.	Buy - Position Entry	+311,315	-	$179.55M	311,315
Q2 2025	MSFT Microsoft Corporation	Microsoft Corporation	Sell	-260,409	-18.8%	$559.44M	1,124,698
Q2 2025	PCOR Procore Technologies, Inc.	Procore Technologies, Inc.	Sell	-17,786	-0.6%	$186.63M	2,727,718
Q2 2025	QSR Restaurant Brands International	Restaurant Brands International	Sell	-20,812	-0.6%	$217.49M	3,280,877
Q2 2025	SPY SPDR S&P 500	SPDR S&P 500	Buy - Position Entry	+106,022	-	$65.51M	106,022
Q2 2025	TDG Transdigm Group Incorporated	Transdigm Group Incorporated	Sell - Position Exit	-38,290	-100.0%	$0.00	-
Q2 2025	TPX Tempur Sealy International, Inc	Tempur Sealy International, Inc	Buy	+1,141,828	+60.3%	$206.61M	3,036,205
Q2 2025	TRU TransUnion	TransUnion	Buy	+1,639,949	+38.3%	$520.81M	5,918,322
Q2 2025	WDAY Workday, Inc.	Workday, Inc.	Sell	-8,700	-0.7%	$307.78M	1,282,432