Greenhaven Associates

Q2 2023 13F · by Edgar Wachenheim, founder

As of: Jun 30, 2023
Filed: Jul 13, 2023
US stock: $7.5B · prev $6.4B
Positions: 29 · 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%

Moves25 since the prior filing

+1.0 pp in · −1.0 pp out

New 1 +0.59 pp
Added 14 +0.42 pp
Trimmed 6 +0.19 pp
Exited 4 −1.16 pp

The book

Concentrated · behaves like 13 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 4.8% a year, about 20.9 years per position

Low
Moderate
High

Top 5 positions52% of US stock

LEN Lennar Corporation Class A trimmed+0.24 pp trimmed+0.2415.1%
GM General Motors Company added−0.25 pp added−0.2511.3%
GS Goldman Sachs Group Inc. added−1.54 pp added−1.549.8%
JPM JPMorgan Chase & Co. added−0.30 pp added−0.309.3%
C Citigroup Inc. added−0.63 pp added−0.636.7%

Positions29 in this filing · 4 exited


LENLennar Corporation Class A	15.09%	9,066,250	$1.1B	trimmed−0%	+0.24 pp	31 q
GMGeneral Motors Company	11.28%	22,036,218	$850M	added+9%	−0.25 pp	22 q
GSGoldman Sachs Group Inc.	9.75%	2,275,566	$734M	added+2%	−1.54 pp	37 q
JPMJPMorgan Chase & Co.	9.28%	4,806,904	$699M	added+1%	−0.30 pp	35 q
CCitigroup Inc.	6.71%	10,970,910	$505M	added+9%	−0.63 pp	7 q
PHMPultegroup, Inc.	5.97%	5,783,350	$449M	added+3%	+0.87 pp	5 q
DHID.R. Horton Inc.	5.81%	3,594,442	$437M	trimmed−2%	+0.27 pp	35 q
TOLToll Brothers, Inc.	5.81%	5,537,947	$438M	added+4%	+0.83 pp	30 q
0LW9Westrock Co	5.23%	13,561,470	$394M	added+7%	−0.77 pp	6 q
WHRWhirlpool Corp.	4.17%	2,111,930	$314M	trimmed−1%	−0.19 pp	41 q
IPInternational Paper Co.	3.85%	9,123,905	$290M	added+43%	+0.29 pp	7 q
LEALear Corporation	3.45%	1,809,030	$260M	added+5%	−0.29 pp	13 q
ARWArrow Electronics, Inc.	2.85%	1,498,038	$215M	added×2.2	+1.55 pp	2 q
OSKOshkosh Corp.	2.71%	2,357,828	$204M	added+20%	+0.18 pp	4 q
AVTAvnet, Inc.	2.44%	3,642,489	$184M	added+15%	+0.23 pp	4 q
unresolvedCrh PLC	1.55%	2,090,525	$117M	added+22%	+0.19 pp	5 q
MTHMeritage Homes Corporation	1.53%	810,891	$115M	added0%	+0.06 pp	5 q
LEN.BLennar Corporation Class B	0.86%	573,294	$65M	trimmed−1%	+0.06 pp	23 q
TEXTerex Corporation	0.59%	739,010	$44M	new	+0.59 pp	new
BACBank of America Corporation	0.47%	1,244,500	$36M	trimmed−0%	−0.08 pp	3 q
GILGildan Activewear Inc.	0.45%	1,045,840	$34M	trimmed−4%	−0.11 pp	4 q
ALVAutoliv, Inc.	0.09%	78,040	$7M	held	—	5 q
AAgilent Technologies Inc.	0.02%	10,700	$1M	held	—	41 q
SCHWThe Charles Schwab Corporation	0.02%	20,000	$1M	held	—	13 q
MSMorgan Stanley	0.01%	10,000	$854,000	held	—	14 q
UNPUnion Pacific Corp.	0.01%	2,032	$415,788	held	—	27 q
BRK.BBERKSHIRE HATHAWAY Class B	0.00%	1,001	$341,341	held	—	13 q
MMM3M Company	0.00%	2,368	$237,013	held	—	41 q
FTITechnipFMC plc	0.00%	15,500	$257,610	held	—	5 q
FFord Motor Company	—	−5,576,500	—	exited	−1.09 pp	—
MDCM.D.C. Holdings, Inc.	—	−66,559	—	exited	−0.04 pp	—
SWKStanley Black & Decker, Inc.	—	−14,430	—	exited	−0.02 pp	—
BILState Street SPDR Bloomberg 1-3 Month T-Bill ETF	—	−5,350	—	exited	−0.01 pp	—

Source

Form: 13F-HR
Reading: 2 defects · 1 unresolved
Accession: 0001213900-23-056683
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet

A row was set aside — invalid CUSIP 35045V100
A security outside the official 13F list — CUSIP 35045V100 not on the Official 13(f) List for 2023-06-30

Search