Nathaniel Simons - Meritage Group 13F Activity & Position Changes (Q3 2025)

According to the SEC 13F filed on Nov 13, 2025, the Meritage Group portfolio showed several notable changes in holdings as of quarter-end Sep 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 Q3 2025, the filing reported:

New Buys - Equifax, Inc.

Increases - MSCI Inc., Workday, Inc.

Reductions - TransUnion

Complete Exits - Airbnb, Inc., Analog Devices, Inc., SPDR S&P 500

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
Q3 2025	ABNB Airbnb, Inc.	Airbnb, Inc.	Sell - Position Exit	-1,261,608	-100.0%	$0.00	-
Q3 2025	ADI Analog Devices, Inc.	Analog Devices, Inc.	Sell - Position Exit	-397,768	-100.0%	$0.00	-
Q3 2025	EFX Equifax, Inc.	Equifax, Inc.	Buy - Position Entry	+169,633	-	$43.52M	169,633
Q3 2025	MSCI MSCI Inc.	MSCI Inc.	Buy	+103,993	+33.4%	$235.65M	415,308
Q3 2025	SPY SPDR S&P 500	SPDR S&P 500	Sell - Position Exit	-106,022	-100.0%	$0.00	-
Q3 2025	TRU TransUnion	TransUnion	Sell	-450,259	-7.6%	$458.11M	5,468,063
Q3 2025	WDAY Workday, Inc.	Workday, Inc.	Buy	+206,821	+16.1%	$358.51M	1,489,253