Greenhaven Associates

Q1 2024 13F · by Edgar Wachenheim, founder

As of: Mar 31, 2024
Filed: Apr 26, 2024
US stock: $10.9B · prev $9.4B
Positions: 27 · 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%

Moves20 since the prior filing

+0.3 pp in · −0.3 pp out

New 0 0.00 pp
Added 12 +0.27 pp
Trimmed 8 −0.25 pp
Exited 0 0.00 pp

The book

Concentrated · behaves like 13 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 2.7% a year, more than 30 years per position

Low
Moderate
High

Top 5 positions51% of US stock

Positions27 in this filing · 0 exited


LENLennar Corporation Class A	14.15%	8,933,457	$1.5B	trimmed−1%	−0.22 pp	34 q
GMGeneral Motors Company	9.67%	23,154,158	$1.1B	added+1%	+0.85 pp	25 q
CCitigroup Inc.	9.49%	16,291,760	$1.0B	added+1%	+0.65 pp	10 q
GSGoldman Sachs Group Inc.	8.83%	2,296,177	$959M	trimmed−1%	−0.76 pp	40 q
CRHCRH Public Limited Company	8.76%	11,028,797	$951M	trimmed−1%	+0.54 pp	3 q
JPMJPMorgan Chase & Co.	8.53%	4,626,384	$927M	trimmed−2%	−0.04 pp	38 q
TOLToll Brothers, Inc.	6.57%	5,512,894	$713M	trimmed−1%	+0.49 pp	33 q
PHMPultegroup, Inc.	6.30%	5,670,818	$684M	trimmed−1%	0.00 pp	8 q
0LW9Westrock Co	5.76%	12,644,411	$625M	trimmed−6%	−0.18 pp	9 q
DHID.R. Horton Inc.	5.44%	3,587,993	$590M	added+1%	−0.31 pp	38 q
IPInternational Paper Co.	3.65%	10,165,385	$397M	added+3%	−0.14 pp	10 q
OSKOshkosh Corp.	2.85%	2,480,089	$309M	added0%	0.00 pp	7 q
LEALear Corporation	2.40%	1,799,060	$261M	added0%	−0.30 pp	16 q
ARWArrow Electronics, Inc.	2.21%	1,850,828	$240M	added+1%	−0.17 pp	5 q
AVTAvnet, Inc.	1.76%	3,858,537	$191M	added+1%	−0.30 pp	7 q
MTHMeritage Homes Corporation	1.34%	826,905	$145M	added0%	−0.20 pp	8 q
TEXTerex Corporation	0.88%	1,476,300	$95M	added+1%	−0.01 pp	4 q
LEN.BLennar Corporation Class B	0.73%	516,800	$80M	trimmed−9%	−0.08 pp	26 q
GGenpact Limited	0.33%	1,087,635	$36M	added×3.6	+0.22 pp	2 q
NOVNOV Inc.	0.32%	1,798,976	$35M	added+13%	−0.02 pp	3 q
AAgilent Technologies Inc.	0.01%	10,700	$2M	held	—	44 q
MSMorgan Stanley	0.01%	10,000	$941,600	held	—	17 q
SCHWThe Charles Schwab Corporation	0.01%	20,000	$1M	held	—	16 q
BRK.BBERKSHIRE HATHAWAY Class B	0.00%	1,001	$420,941	held	—	16 q
MMM3M Company	0.00%	2,368	$251,174	held	—	44 q
UNPUnion Pacific Corp.	0.00%	2,032	$499,730	held	—	30 q
FTITechnipFMC plc	0.00%	15,500	$389,205	held	—	8 q