Brave Warrior Advisors

Q2 2021 13F · by Glenn Greenberg, portfolio manager

As of: Jun 30, 2021
Filed: Aug 16, 2021
US stock: $2.9B · prev $3.1B
Positions: 24 · prev 24
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

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

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves22 since the prior filing

+9.4 pp in · −9.4 pp out

New 3 +9.40 pp
Added 0 0.00 pp
Trimmed 16 −8.13 pp
Exited 3 −1.30 pp

The book

Concentrated · behaves like 11 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 38% a year, about 2.7 years per position

Low
Moderate
High

Top 5 positions54% of US stock

ELV Elevance Health, Inc. trimmed+1.37 pp trimmed+1.3715.0%
AON Aon plc Class A trimmed−1.24 pp trimmed−1.2410.3%
JPM JPMorgan Chase & Co. trimmed−0.99 pp trimmed−0.999.9%
PRI Primerica, Inc. trimmed+0.73 pp trimmed+0.739.8%
FNF Fidelity National Financial, Inc. new+9.38 pp new+9.389.4%

Positions24 in this filing · 3 exited


ELVElevance Health, Inc.	15.01%	1,145,416	$437M	trimmed−2%	+1.37 pp	8 q
AONAon plc Class A	10.25%	1,250,429	$299M	trimmed−18%	−1.24 pp	4 q
JPMJPMorgan Chase & Co.	9.86%	1,847,337	$287M	trimmed−15%	−0.99 pp	28 q
PRIPrimerica, Inc.	9.85%	1,872,970	$287M	trimmed−1%	+0.73 pp	33 q
FNFFidelity National Financial, Inc.	9.38%	6,286,646	$273M	new	+9.38 pp	new
VVVValvoline Inc.	8.45%	7,584,897	$246M	trimmed−1%	+1.94 pp	2 q
PGRProgressive Corporation	7.92%	2,347,931	$231M	trimmed−2%	+0.46 pp	7 q
RJFRaymond James Financial, Inc.	7.25%	1,626,779	$211M	trimmed−20%	−0.93 pp	12 q
BRK.BBERKSHIRE HATHAWAY Class B	6.64%	696,440	$194M	trimmed−50%	−4.93 pp	9 q
HCAHCA Healthcare, Inc.	5.55%	782,236	$162M	trimmed−43%	−2.82 pp	6 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	3.33%	242,019	$97M	trimmed−2%	+0.34 pp	7 q
DLTRDollar Tree Inc.	3.24%	949,378	$94M	trimmed−37%	−2.41 pp	7 q
SCHWThe Charles Schwab Corporation	1.80%	721,293	$53M	trimmed−2%	+0.24 pp	33 q
AMAntero Midstream Corporation	1.19%	3,348,311	$35M	trimmed−4%	+0.16 pp	10 q
CMCSAComcast Corp	0.06%	31,094	$2M	held	—	31 q
GOOGLAlphabet Inc. Class A	0.05%	564	$1M	trimmed−18%	0.00 pp	15 q
MCOMoody's Corporation	0.04%	3,279	$1M	held	—	12 q
GOOGAlphabet Inc. Class C	0.03%	345	$865,000	trimmed−34%	−0.01 pp	12 q
BACBank of America Corporation	0.02%	14,532	$599,000	held	—	31 q
MARMarriott International Class A	0.02%	3,223	$440,000	held	—	6 q
AMZNAmazon.Com Inc	0.01%	69	$237,000	held	—	4 q
METAMeta Platforms, Inc. Class A	0.01%	1,246	$433,000	trimmed−75%	−0.04 pp	6 q
MAMastercard Incorporated	0.01%	558	$204,000	new	+0.01 pp	new
8DTSquarespace Inc - Class A	0.01%	6,000	$356,000	new	+0.01 pp	new
RYAAYRyanair Holdings plc	—	−203,249	—	exited	−0.76 pp	—
ARAntero Resources Corporation	—	−1,500,000	—	exited	−0.50 pp	—
CACCCredit Acceptance Corp	—	−3,548	—	exited	−0.04 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0001172661-21-001819
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet

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