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

As of Jun 30, 2025, the Meritage Group portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Aug 13, 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