Brave Warrior Advisors

Q4 2024 13F · by Glenn Greenberg, portfolio manager

As of: Dec 31, 2024
Filed: Feb 14, 2025
US stock: $4.0B · prev $4.8B
Positions: 30 · prev 32
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

+9.3 pp in · −9.4 pp out

New 2 +0.03 pp
Added 6 +9.32 pp
Trimmed 10 −3.46 pp
Exited 4 −5.91 pp

The book

Concentrated · behaves like 11 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 16% a year, about 6.2 years per position

Low
Moderate
High

Top 5 positions56% of US stock

ELV Elevance Health, Inc. trimmed−2.75 pp trimmed−2.7515.0%
SNX TD SYNNEX Corporation added+2.89 pp added+2.8912.1%
DFS Discover Financial Services trimmed+0.82 pp trimmed+0.8210.9%
OMF OneMain Holdings, Inc. added+2.42 pp added+2.429.7%
FNF Fidelity National Financial, Inc. trimmed+0.60 pp trimmed+0.608.3%

Positions30 in this filing · 4 exited


ELVElevance Health, Inc.	14.96%	1,629,977	$601M	trimmed−1%	−2.75 pp	22 q
SNXTD SYNNEX Corporation	12.10%	4,147,172	$486M	added+12%	+2.89 pp	4 q
DFSDiscover Financial Services	10.88%	2,523,965	$437M	trimmed−27%	+0.82 pp	6 q
OMFOneMain Holdings, Inc.	9.65%	7,437,670	$388M	added0%	+2.42 pp	11 q
FNFFidelity National Financial, Inc.	8.34%	5,973,131	$335M	trimmed−1%	+0.60 pp	15 q
ANAutoNation, Inc.	6.17%	1,461,213	$248M	added+50%	+2.56 pp	9 q
RYAAYRyanair Holdings plc	6.08%	5,604,258	$244M	added+10%	+1.30 pp	5 q
LENLennar Corporation Class A	6.02%	1,774,390	$242M	trimmed−0%	−0.91 pp	12 q
PRIPrimerica, Inc.	5.77%	853,864	$232M	trimmed−42%	−2.26 pp	47 q
FGF&G Annuities & Life, Inc.	5.57%	5,400,441	$224M	trimmed−1%	+0.51 pp	9 q
LADLithia Motors, Inc.	5.45%	612,566	$219M	trimmed−28%	−0.18 pp	12 q
MPLXMplx LP	5.26%	4,418,154	$211M	trimmed−0%	+1.17 pp	7 q
DHID.R. Horton Inc.	2.72%	781,527	$109M	trimmed−3%	−0.46 pp	12 q
AMAntero Midstream Corporation	0.73%	1,932,840	$29M	added+2%	+0.14 pp	24 q
GOOGLAlphabet Inc. Class A	0.10%	21,858	$4M	held	—	29 q
CMCSAComcast Corp	0.03%	31,094	$1M	held	—	45 q
HCAHCA Healthcare, Inc.	0.03%	3,373	$1M	held	—	20 q
JPMJPMorgan Chase & Co.	0.03%	5,643	$1M	held	—	42 q
GOOGAlphabet Inc. Class C	0.02%	3,790	$721,768	held	—	26 q
BACBank of America Corporation	0.02%	14,532	$638,681	trimmed−36%	0.00 pp	45 q
ICLRIcon Plc	0.02%	3,000	$629,130	new	+0.02 pp	new
ALLYAlly Financial Inc.	0.01%	10,000	$360,100	held	—	2 q
AMZNAmazon.Com Inc	0.01%	1,400	$307,146	held	—	8 q
COFCapital One Financial	0.01%	1,500	$267,480	new	+0.01 pp	new
MARMarriott International Class A	0.01%	1,194	$333,054	held	—	7 q
MAMastercard Incorporated	0.01%	422	$222,213	held	—	2 q
MSFTMicrosoft Corp	0.01%	1,275	$537,412	added×2.4	+0.01 pp	9 q
MCOMoody's Corporation	0.01%	471	$222,957	held	—	2 q
PGRProgressive Corporation	0.01%	1,746	$418,359	held	—	21 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	0.01%	499	$252,424	held	—	21 q
APOApollo Global Management, Inc.	—	−2,277,466	—	exited	−5.90 pp	—
DLTRDollar Tree Inc.	—	−7,126	—	exited	−0.01 pp	—
SPGIS&P Global Inc.	—	−401	—	exited	0.00 pp	—
TXNTexas Instruments Incorporated	—	−1,010	—	exited	0.00 pp	—