Brave Warrior Advisors

Q4 2020 13F · by Glenn Greenberg, portfolio manager

Picture100.0% US stock

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

+2.9 pp in · −2.9 pp out

Concentrated · behaves like 12 equal-sized positions

Low turnover · 13% a year, about 7.8 years per position


BRK.BBERKSHIRE HATHAWAY Class B	11.90%	1,395,538	$324M	trimmed−4%	−1.91 pp	7 q
AONAon plc Class A	11.64%	1,497,634	$316M	added+13%	−0.55 pp	2 q
JPMJPMorgan Chase & Co.	10.41%	2,228,522	$283M	trimmed−1%	+0.76 pp	26 q
HCAHCA Healthcare, Inc.	9.81%	1,622,176	$267M	trimmed−1%	+0.70 pp	4 q
ELVElevance Health, Inc.	9.11%	771,135	$248M	added+1%	−0.05 pp	6 q
PRIPrimerica, Inc.	8.23%	1,670,010	$224M	trimmed−0%	−0.22 pp	31 q
RJFRaymond James Financial, Inc.	7.25%	2,059,701	$197M	trimmed−2%	+0.44 pp	10 q
PGRProgressive Corporation	6.00%	1,650,000	$163M	trimmed−0%	−1.00 pp	5 q
CACCCredit Acceptance Corp	5.80%	455,362	$158M	added×3.2	+3.66 pp	2 q
SCHWThe Charles Schwab Corporation	4.52%	2,318,997	$123M	trimmed−9%	+0.38 pp	31 q
GOOGLAlphabet Inc. Class A	4.29%	66,546	$117M	trimmed−15%	−0.86 pp	13 q
DLTRDollar Tree Inc.	3.87%	975,021	$105M	trimmed−3%	−0.22 pp	5 q
METAMeta Platforms, Inc. Class A	2.55%	253,625	$69M	trimmed−2%	−0.49 pp	4 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	2.10%	163,114	$57M	added+2%	−0.13 pp	5 q
AMAntero Midstream Corporation	1.53%	5,398,393	$42M	trimmed−36%	−0.50 pp	8 q
RYAAYRyanair Holdings plc	0.83%	204,975	$23M	trimmed−10%	0.00 pp	3 q
CMCSAComcast Corp	0.06%	31,094	$2M	held	—	29 q
MCOMoody's Corporation	0.04%	3,279	$952,000	added+5%	0.00 pp	10 q
GOOGAlphabet Inc. Class C	0.03%	524	$918,000	held	—	10 q
BACBank of America Corporation	0.02%	14,532	$440,000	held	—	29 q
AMZNAmazon.Com Inc	0.01%	69	$225,000	held	—	2 q
MARMarriott International Class A	0.01%	2,897	$382,000	held	—	4 q
CDKCDK Global, Inc.	—	−7,847	—	exited	−0.02 pp	—