Brave Warrior Advisors

Q4 2018 13F · by Glenn Greenberg, portfolio manager

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

+7.3 pp in · −7.4 pp out

Concentrated · behaves like 10 equal-sized positions

Low turnover · 9.7% a year, about 10.3 years per position


GOOGLAlphabet Inc. Class A	16.24%	305,499	$319M	added+1%	+0.73 pp	5 q
BFHBread Financial Holdings, Inc.	13.30%	1,742,653	$262M	added+1%	−4.13 pp	7 q
SCHWThe Charles Schwab Corporation	12.65%	5,987,722	$249M	added+3%	+0.43 pp	23 q
JPMJPMorgan Chase & Co.	9.61%	1,934,803	$189M	added+8%	+1.01 pp	18 q
RJFRaymond James Financial, Inc.	8.59%	2,270,243	$169M	added+9%	+0.46 pp	2 q
LENLennar Corporation Class A	6.82%	3,423,382	$134M	added+55%	+2.41 pp	2 q
PRIPrimerica, Inc.	6.81%	1,369,452	$134M	trimmed−6%	−0.65 pp	23 q
LBTYKLiberty Global Ltd. Class C	6.19%	5,894,249	$122M	trimmed−15%	−2.09 pp	12 q
METAMeta Platforms, Inc. Class A	5.62%	842,237	$110M	new	+5.62 pp	new
ARAntero Resources Corporation	5.30%	11,105,794	$104M	trimmed−0%	−3.10 pp	15 q
CCitigroup Inc.	3.15%	1,191,286	$62M	trimmed−14%	−1.09 pp	2 q
NLSNNielsen Holdings PLC	3.06%	2,579,186	$60M	trimmed−11%	−0.36 pp	4 q
DHID.R. Horton Inc.	2.01%	1,142,461	$40M	added+43%	+0.58 pp	2 q
LBTYALiberty Global Ltd. Class A	0.26%	242,175	$5M	trimmed−3%	−0.05 pp	11 q
RRCRange Resources Corp	0.08%	171,549	$2M	new	+0.08 pp	new
GOOGAlphabet Inc. Class C	0.06%	1,126	$1M	added+7%	+0.01 pp	2 q
FTDRFrontdoor, Inc.	0.06%	41,368	$1M	new	+0.06 pp	new
unresolvedAntero Midstream Gp LP	0.05%	90,000	$1M	new	+0.05 pp	new
CMCSAComcast Corp	0.05%	31,094	$1M	held	—	21 q
MCOMoody's Corporation	0.05%	6,859	$961,000	added+35%	+0.01 pp	2 q
BACBank of America Corporation	0.02%	14,532	$358,000	held	—	21 q
LEN.BLennar Corporation Class B	0.02%	13,000	$407,000	new	+0.02 pp	new
HCAHCA Healthcare, Inc.	—	−3,896	—	exited	−0.02 pp	—