Nathaniel Simons – Meritage Group Portfolio Activity & Recent Trades (Jun 30, 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. (MSCI), SPDR S&P 500 (SPY)

Increases – TransUnion (TRU), Tempur Sealy International, Inc (TPX), Amazon.com, Inc. (AMZN), Capital One Financial Corporati (COF)

Reductions – Analog Devices, Inc. (ADI), Airbnb, Inc. (ABNB), Workday, Inc. (WDAY), Agilent Technologies, Inc. (A), Procore Technologies, Inc. (PCOR), and 2 more

Complete Exits – Transdigm Group Incorporated (TDG), Dollar Tree, Inc. (DLTR), Equifax, Inc. (EFX), Autodesk, Inc. (ADSK), Microchip Technology Incorporat (MCHP), and 1 more

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

Meritage Group Activity

Date	Symbol	Name	Type	Quantity	Value	Remaining
Q2 2024Jun 30, 2024	NCNO nCino, Inc.	nCino, Inc.	Sell - Position Exit	-1,750,954-100.0%	$0.00	-
Q2 2024Jun 30, 2024	TOST Toast, Inc.	Toast, Inc.	Sell	-2,522,586-47.7%	$71.18M	2,762,225
Q1 2024Mar 31, 2024	CRH CRH	CRH	Buy - Position Entry	+1,615,664	$139.37K	1,615,664
Q1 2024Mar 31, 2024	TOST Toast, Inc.	Toast, Inc.	Buy	+1,436,494+37.3%	$131.70K	5,284,811
Q1 2024Mar 31, 2024	PCOR Procore Technologies, Inc.	Procore Technologies, Inc.	Buy - Position Entry	+1,298,985	$106.74K	1,298,985
Q1 2024Mar 31, 2024	AON Aon Plc	Aon Plc	Buy - Position Entry	+774,514	$258.47K	774,514
Q1 2024Mar 31, 2024	WDAY Workday, Inc.	Workday, Inc.	Buy	+275,883+27.5%	$348.40K	1,277,359
Q1 2024Mar 31, 2024	TRU TransUnion	TransUnion	Buy	+117,086+2.3%	$410.77K	5,147,510
Q1 2024Mar 31, 2024	DLTR Dollar Tree, Inc.	Dollar Tree, Inc.	Buy	+99,135+43.8%	$43.31K	325,241
Q1 2024Mar 31, 2024	CP Canadian Pacific Kansas City Li	Canadian Pacific Kansas City Li	Buy	+61,082+2.3%	$236.89K	2,685,672
Q1 2024Mar 31, 2024	A Agilent Technologies, Inc.	Agilent Technologies, Inc.	Buy	+49,272+2.3%	$315.19K	2,166,134
Q1 2024Mar 31, 2024	NCNO nCino, Inc.	nCino, Inc.	Buy	+39,828+2.3%	$65.45K	1,750,954
Q1 2024Mar 31, 2024	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Buy	+37,236+2.3%	$295.28K	1,636,984
Q1 2024Mar 31, 2024	CRL Charles River Laboratories Inte	Charles River Laboratories Inte	Buy	+26,892+2.3%	$320.34K	1,182,268
Q1 2024Mar 31, 2024	UNP Union Pacific Corporation	Union Pacific Corporation	Buy	+26,325+2.3%	$284.62K	1,157,320
Q1 2024Mar 31, 2024	ADI Analog Devices, Inc.	Analog Devices, Inc.	Buy	+26,028+2.3%	$226.32K	1,144,247
Q1 2024Mar 31, 2024	ADSK Autodesk, Inc.	Autodesk, Inc.	Buy	+19,325+2.3%	$221.25K	849,593
Q1 2024Mar 31, 2024	DOC Healthpeak Properties, Inc.	Healthpeak Properties, Inc.	Buy - Position Entry	+12,949	$243.00	12,949
Q1 2024Mar 31, 2024	WBD Warner Bros. Discovery, Inc. -	Warner Bros. Discovery, Inc. -	Buy - Position Entry	+12,911	$113.00	12,911
Q1 2024Mar 31, 2024	MGM MGM Resorts International	MGM Resorts International	Buy - Position Entry	+6,930	$327.00	6,930
Q1 2024Mar 31, 2024	INTC Intel Corporation	Intel Corporation	Buy - Position Entry	+6,703	$296.00	6,703
Q1 2024Mar 31, 2024	TSN Tyson Foods, Inc.	Tyson Foods, Inc.	Buy - Position Entry	+4,811	$283.00	4,811
Q1 2024Mar 31, 2024	EXPD Expeditors International of Was	Expeditors International of Was	Buy - Position Entry	+2,601	$316.00	2,601
Q1 2024Mar 31, 2024	RCL Royal Caribbean	Royal Caribbean	Buy - Position Entry	+2,027	$282.00	2,027
Q1 2024Mar 31, 2024	DVA DaVita Inc.	DaVita Inc.	Buy - Position Entry	+2,007	$277.00	2,007
Q1 2024Mar 31, 2024	TTWO Take-Two Interactive Software,	Take-Two Interactive Software,	Buy - Position Entry	+1,646	$244.00	1,646
Q1 2024Mar 31, 2024	NEM Newmont Corporation	Newmont Corporation	Buy	+1,611+23.7%	$301.00	8,408
Q1 2024Mar 31, 2024	ALL Allstate Corporation (The)	Allstate Corporation (The)	Buy - Position Entry	+1,580	$273.00	1,580
Q1 2024Mar 31, 2024	XEL Xcel Energy Inc.	Xcel Energy Inc.	Buy	+1,397+32.7%	$305.00	5,666
Q1 2024Mar 31, 2024	KIM Kimco Realty Corporation (HC)	Kimco Realty Corporation (HC)	Buy	+983+7.7%	$270.00	13,752

Page 7 of 50 • 1497 total trades

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