Brave Warrior Advisors

Q3 2024 13F · by Glenn Greenberg, portfolio manager

As of: Sep 30, 2024
Filed: Nov 14, 2024
US stock: $4.8B · prev $4.5B
Positions: 32 · prev 27
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%

Moves25 since the prior filing

+4.7 pp in · −4.7 pp out

New 6 +0.02 pp
Added 6 +4.63 pp
Trimmed 12 −4.64 pp
Exited 1 −0.01 pp

The book

Concentrated · behaves like 11 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 27% a year, about 3.7 years per position

Low
Moderate
High

Top 5 positions53% of US stock

ELV Elevance Health, Inc. added−1.90 pp added−1.9017.7%
DFS Discover Financial Services trimmed+0.03 pp trimmed+0.0310.1%
SNX TD SYNNEX Corporation added+0.71 pp added+0.719.2%
PRI Primerica, Inc. trimmed−1.88 pp trimmed−1.888.0%
FNF Fidelity National Financial, Inc. trimmed−0.33 pp trimmed−0.337.7%

Positions32 in this filing · 1 exited


ELVElevance Health, Inc.	17.71%	1,641,413	$854M	added+1%	−1.90 pp	21 q
DFSDiscover Financial Services	10.06%	3,454,706	$485M	trimmed−0%	+0.03 pp	5 q
SNXTD SYNNEX Corporation	9.21%	3,695,615	$444M	added+11%	+0.71 pp	3 q
PRIPrimerica, Inc.	8.03%	1,460,171	$387M	trimmed−23%	−1.88 pp	46 q
FNFFidelity National Financial, Inc.	7.74%	6,010,352	$373M	trimmed−18%	−0.33 pp	14 q
OMFOneMain Holdings, Inc.	7.23%	7,402,222	$348M	added+2%	−0.58 pp	10 q
LENLennar Corporation Class A	6.93%	1,780,852	$334M	added+12%	+1.66 pp	11 q
APOApollo Global Management, Inc.	5.90%	2,277,466	$284M	trimmed−40%	−3.99 pp	11 q
LADLithia Motors, Inc.	5.63%	854,551	$271M	trimmed−0%	+0.85 pp	11 q
FGF&G Annuities & Life, Inc.	5.06%	5,456,170	$244M	trimmed−10%	−0.04 pp	8 q
RYAAYRyanair Holdings plc	4.78%	5,104,019	$231M	added×41.1	+4.65 pp	4 q
MPLXMplx LP	4.09%	4,432,966	$197M	added+5%	+0.09 pp	6 q
ANAutoNation, Inc.	3.61%	972,309	$174M	trimmed−1%	+0.15 pp	8 q
DHID.R. Horton Inc.	3.18%	803,061	$153M	trimmed−0%	+0.66 pp	11 q
AMAntero Midstream Corporation	0.59%	1,898,932	$29M	trimmed−9%	−0.09 pp	23 q
GOOGLAlphabet Inc. Class A	0.08%	21,858	$4M	held	—	28 q
CMCSAComcast Corp	0.03%	31,094	$1M	held	—	44 q
HCAHCA Healthcare, Inc.	0.03%	3,373	$1M	trimmed−13%	0.00 pp	19 q
BACBank of America Corporation	0.02%	22,532	$894,070	held	—	44 q
JPMJPMorgan Chase & Co.	0.02%	5,643	$1M	held	—	41 q
ALLYAlly Financial Inc.	0.01%	10,000	$355,900	new	+0.01 pp	new
GOOGAlphabet Inc. Class C	0.01%	3,790	$633,650	held	—	25 q
AMZNAmazon.Com Inc	0.01%	1,400	$260,862	trimmed−36%	0.00 pp	7 q
DLTRDollar Tree Inc.	0.01%	7,126	$501,100	new	+0.01 pp	new
MARMarriott International Class A	0.01%	1,194	$296,828	held	—	6 q
PGRProgressive Corporation	0.01%	1,746	$443,065	held	—	20 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	0.01%	499	$291,755	trimmed−18%	0.00 pp	20 q
MAMastercard Incorporated	0.00%	422	$208,384	new	0.00 pp	new
MSFTMicrosoft Corp	0.00%	525	$225,907	held	—	8 q
MCOMoody's Corporation	0.00%	471	$223,532	new	0.00 pp	new
SPGIS&P Global Inc.	0.00%	401	$207,165	new	0.00 pp	new
TXNTexas Instruments Incorporated	0.00%	1,010	$208,636	new	0.00 pp	new
AMATApplied Materials Inc	—	−961	—	exited	−0.01 pp	—