Insights from the Latest 13F Filing for Q2 2024
Glenn Greenberg (Trades, Portfolio), a notable figure in the investment world, recently disclosed his portfolio updates for the second quarter of 2024 through a 13F filing. Co-founding Chieftain Capital Management in 1984 with John Shapiro, Greenberg has been known for his disciplined investment strategy that significantly outperformed the S&P 500 from 1984 to 2004. Following a split in Chieftain Capital, Greenberg now leads Brave Warrior Advisors, focusing on a highly concentrated portfolio strategy to mitigate ignorance and enhance investment returns by selecting companies with minimal competition and high return on invested capital.
Summary of New Buys
Glenn Greenberg (Trades, Portfolio) made a notable new addition to his portfolio in the second quarter of 2024:
- Applied Materials Inc (AMAT, Financial) was added with 961 shares, representing 0.01% of the portfolio and a total value of $226.79 million.
Key Position Increases
During this quarter, Greenberg increased his stakes in several companies:
- Lennar Corp (LEN, Financial) saw an addition of 570,871 shares, bringing the total to 1,585,312 shares. This adjustment represents a significant 56.27% increase in share count and a 1.9% impact on the current portfolio, valued at $237.59 million.
- MPLX LP (MPLX, Financial) was also significantly boosted by 1,209,869 shares, bringing the total to 4,235,478 shares, representing a 39.99% increase in share count and a total value of $180.39 million.
Summary of Sold Out Positions
Glenn Greenberg (Trades, Portfolio) exited several positions entirely in the second quarter of 2024:
- Louisiana-Pacific Corp (LPX, Financial) was completely sold off with all 224,598 shares liquidated, impacting the portfolio by -0.39%.
- Wells Fargo & Co (WFC, Financial) saw all 5,250 shares sold, causing a -0.01% impact on the portfolio.
Key Position Reductions
Significant reductions were made in several holdings:
- JPMorgan Chase & Co (JPM, Financial) was reduced by 1,292,985 shares, resulting in a -99.57% decrease in shares and a -5.42% impact on the portfolio. The stock traded at an average price of $195.5 during the quarter and has returned 4.92% over the past three months and 25.78% year-to-date.
- Fidelity National Financial Inc (FNF, Financial) saw a reduction of 1,709,198 shares, resulting in an -18.83% reduction in shares and a -1.9% impact on the portfolio. The stock traded at an average price of $50.34 during the quarter and has returned 8.54% over the past three months and 11.58% year-to-date.
Portfolio Overview
As of the second quarter of 2024, Glenn Greenberg (Trades, Portfolio)'s portfolio included 27 stocks. The top holdings were 19.61% in Elevance Health Inc (ELV, Financial), 10.03% in Discover Financial Services (DFS, Financial), 9.91% in Primerica Inc (PRI, Financial), 9.89% in Apollo Global Management Inc (APO, Financial), and 8.5% in TD Synnex Corp (SNX, Financial). The holdings are mainly concentrated in 7 of all the 11 industries: Financial Services, Healthcare, Consumer Cyclical, Technology, Energy, Communication Services, and Industrials.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
