Brave Warrior Advisors

Q4 2025 13F · by Glenn Greenberg, portfolio manager

As of: Dec 31, 2025
Filed: Feb 17, 2026
US stock: $4.3B · prev $4.3B
Positions: 33 · prev 33
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%

Moves21 since the prior filing

+5.4 pp in · −5.4 pp out

New 2 +0.01 pp
Added 10 +5.35 pp
Trimmed 7 −3.77 pp
Exited 2 −1.61 pp

The book

Concentrated · behaves like 13 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 30% a year, about 3.3 years per position

Low
Moderate
High

Top 5 positions49% of US stock

OMF OneMain Holdings, Inc. trimmed+2.03 pp trimmed+2.0312.3%
SNX TD SYNNEX Corporation trimmed−1.32 pp trimmed−1.3211.1%
ELV Elevance Health, Inc. trimmed−3.48 pp trimmed−3.4810.3%
SLM SLM Corporation added+0.64 pp added+0.648.1%
AN AutoNation, Inc. added+1.34 pp added+1.347.5%

Positions33 in this filing · 2 exited


OMFOneMain Holdings, Inc.	12.25%	7,739,293	$523M	trimmed−1%	+2.03 pp	15 q
SNXTD SYNNEX Corporation	11.13%	3,163,239	$475M	trimmed−3%	−1.32 pp	8 q
ELVElevance Health, Inc.	10.28%	1,251,803	$439M	trimmed−32%	−3.48 pp	26 q
SLMSLM Corporation	8.13%	12,831,965	$347M	added+10%	+0.64 pp	4 q
ANAutoNation, Inc.	7.51%	1,552,741	$321M	added+28%	+1.34 pp	13 q
MRPMillrose Properties, Inc.	6.02%	8,600,224	$257M	added+60%	+1.83 pp	4 q
LENLennar Corporation Class A	5.81%	2,411,414	$248M	added+20%	−0.06 pp	16 q
BLDRBuilders FirstSource, Inc.	5.73%	2,379,145	$245M	added+32%	+0.65 pp	4 q
COFCapital One Financial	5.73%	1,008,862	$245M	added+5%	+0.97 pp	5 q
MPLXMplx LP	5.59%	4,474,115	$239M	added0%	+0.41 pp	11 q
RYAAYRyanair Holdings plc	5.17%	3,056,698	$221M	trimmed−25%	−0.54 pp	9 q
PRIPrimerica, Inc.	4.72%	780,125	$202M	added+4%	−0.13 pp	51 q
FNFFidelity National Financial, Inc.	4.50%	3,519,089	$192M	added+1%	−0.40 pp	19 q
FGF&G Annuities & Life, Inc.	3.89%	5,377,029	$166M	added+3%	+0.10 pp	13 q
DHID.R. Horton Inc.	2.37%	701,822	$101M	trimmed−1%	−0.42 pp	16 q
AMAntero Midstream Corporation	0.77%	1,847,972	$33M	trimmed−1%	−0.07 pp	28 q
GOOGLAlphabet Inc. Class A	0.15%	20,258	$6M	trimmed−7%	+0.03 pp	33 q
HCAHCA Healthcare, Inc.	0.04%	3,923	$2M	held	—	24 q
JPMJPMorgan Chase & Co.	0.04%	5,643	$2M	held	—	46 q
GOOGAlphabet Inc. Class C	0.03%	3,790	$1M	held	—	30 q
BACBank of America Corporation	0.03%	26,532	$1M	held	—	49 q
CMCSAComcast Corp	0.02%	31,094	$929,400	held	—	49 q
USBU.S. Bancorp	0.02%	15,000	$800,400	held	—	3 q
AMZNAmazon.Com Inc	0.01%	1,400	$323,148	held	—	12 q
AMATApplied Materials Inc	0.01%	961	$246,967	new	+0.01 pp	new
METAMeta Platforms, Inc. Class A	0.01%	338	$223,110	held	—	3 q
MARMarriott International Class A	0.01%	1,194	$370,427	held	—	11 q
MAMastercard Incorporated	0.01%	422	$240,911	held	—	6 q
MSFTMicrosoft Corp	0.01%	525	$253,900	held	—	13 q
MCOMoody's Corporation	0.01%	471	$240,610	held	—	6 q
PGRProgressive Corporation	0.01%	1,746	$397,599	held	—	25 q
VVISA Inc.	0.01%	618	$216,739	held	—	4 q
SPGIS&P Global Inc.	0.00%	401	$209,559	new	0.00 pp	new
KNTKKinetik Holdings Inc.	—	−1,608,928	—	exited	−1.60 pp	—
ICLRIcon Plc	—	−3,000	—	exited	−0.01 pp	—