Brave Warrior Advisors

Q2 2020 13F · by Glenn Greenberg, portfolio manager

Picture100.0% US stock

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

+4.6 pp in · −4.6 pp out

Concentrated · behaves like 10 equal-sized positions

Moderate turnover · 28% a year, about 3.5 years per position

restated 13 rows corrected by the filer · US stock −22.59%; later quarters recomputed 13F-HR/A · Aug 19, 2020 ↗


BRK.BBERKSHIRE HATHAWAY Class B	18.32%	2,064,178	$368M	added+18%	−0.04 pp	5 q
GOOGLAlphabet Inc. Class A	11.62%	164,809	$234M	trimmed−7%	−0.18 pp	11 q
ELVElevance Health, Inc.	10.09%	771,468	$203M	trimmed−12%	−1.35 pp	4 q
JPMJPMorgan Chase & Co.	9.31%	1,991,125	$187M	added+4%	−0.59 pp	24 q
PRIPrimerica, Inc.	9.03%	1,557,166	$182M	added+6%	+1.55 pp	29 q
HCAHCA Healthcare, Inc.	8.03%	1,664,795	$162M	added+20%	+0.88 pp	2 q
RJFRaymond James Financial, Inc.	7.53%	2,199,149	$151M	trimmed−1%	−0.59 pp	8 q
PGRProgressive Corporation	7.05%	1,770,265	$142M	added+3%	−0.26 pp	3 q
METAMeta Platforms, Inc. Class A	3.97%	352,099	$80M	added+6%	+0.79 pp	2 q
LENLennar Corporation Class A	3.70%	1,208,285	$74M	trimmed−28%	+0.01 pp	8 q
DHID.R. Horton Inc.	3.65%	1,324,702	$73M	trimmed−19%	+0.45 pp	8 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	2.43%	165,491	$49M	trimmed−37%	−1.35 pp	3 q
SCHWThe Charles Schwab Corporation	2.41%	1,438,053	$49M	trimmed−24%	−1.23 pp	29 q
AMAntero Midstream Corporation	1.80%	7,081,150	$36M	added×2.4	+1.44 pp	6 q
RYAAYRyanair Holdings plc	0.82%	248,506	$16M	new	+0.82 pp	new
GOOGAlphabet Inc. Class C	0.07%	936	$1M	held	—	8 q
CMCSAComcast Corp	0.06%	31,094	$1M	held	—	27 q
DLTRDollar Tree Inc.	0.05%	11,249	$1M	held	—	3 q
MCOMoody's Corporation	0.04%	3,129	$860,000	held	—	8 q
BACBank of America Corporation	0.02%	14,532	$345,000	held	—	27 q
MARMarriott International Class A	0.01%	2,897	$248,000	held	—	2 q
ARAntero Resources Corporation	—	−8,518,664	—	exited	−0.35 pp	—
LEN.BLennar Corporation Class B	—	−9,708	—	exited	−0.02 pp	—