Greenhaven Associates

Q2 2024 13F · by Edgar Wachenheim, founder

As of: Jun 30, 2024
Filed: Jul 15, 2024
US stock: $7.6B · prev $10.9B
Positions: 25 · 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

+21.0 pp in · −21.1 pp out

New 0 0.00 pp
Added 12 +20.95 pp
Trimmed 6 −15.37 pp
Exited 2 −5.76 pp

The book

Very concentrated · behaves like 9 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 4.0% a year, about 24.7 years per position

Low
Moderate
High

Top 5 positions65% of US stock

Positions25 in this filing · 2 exited


LENLennar Corporation Class A	17.67%	8,972,532	$1.3B	added0%	+3.52 pp	35 q
GMGeneral Motors Company	14.20%	23,266,658	$1.1B	added0%	+4.53 pp	26 q
CCitigroup Inc.	13.87%	16,640,846	$1.1B	added+2%	+4.38 pp	11 q
CRHCRH Public Limited Company	10.95%	11,120,064	$834M	added+1%	+2.19 pp	4 q
TOLToll Brothers, Inc.	8.42%	5,565,787	$641M	added+1%	+1.85 pp	34 q
PHMPultegroup, Inc.	8.07%	5,576,308	$614M	trimmed−2%	+1.77 pp	9 q
DHID.R. Horton Inc.	6.80%	3,669,893	$517M	added+2%	+1.36 pp	39 q
OSKOshkosh Corp.	3.58%	2,517,042	$272M	added+1%	+0.73 pp	8 q
IPInternational Paper Co.	3.06%	5,403,885	$233M	trimmed−47%	−0.59 pp	11 q
ARWArrow Electronics, Inc.	2.99%	1,882,880	$227M	added+2%	+0.78 pp	6 q
LEALear Corporation	2.73%	1,816,880	$208M	added+1%	+0.33 pp	17 q
AVTAvnet, Inc.	2.65%	3,922,338	$202M	added+2%	+0.89 pp	8 q
MTHMeritage Homes Corporation	1.64%	772,153	$125M	trimmed−7%	+0.30 pp	9 q
TEXTerex Corporation	1.08%	1,499,671	$82M	added+2%	+0.20 pp	5 q
LEN.BLennar Corporation Class B	0.88%	482,750	$67M	trimmed−7%	+0.15 pp	27 q
GGenpact Limited	0.52%	1,240,775	$40M	added+14%	+0.19 pp	3 q
NOVNOV Inc.	0.45%	1,798,976	$34M	held	—	4 q
GSGoldman Sachs Group Inc.	0.34%	57,259	$26M	trimmed−98%	−8.49 pp	41 q
AAgilent Technologies Inc.	0.02%	10,700	$1M	held	—	45 q
JPMJPMorgan Chase & Co.	0.02%	7,500	$2M	trimmed−100%	−8.51 pp	39 q
SCHWThe Charles Schwab Corporation	0.02%	20,000	$1M	held	—	17 q
BRK.BBERKSHIRE HATHAWAY Class B	0.01%	1,001	$407,207	held	—	17 q
MSMorgan Stanley	0.01%	10,000	$971,900	held	—	18 q
UNPUnion Pacific Corp.	0.01%	2,032	$459,760	held	—	31 q
MMM3M Company	0.00%	2,368	$241,986	held	—	45 q
0LW9Westrock Co	—	−12,644,411	—	exited	−5.76 pp	—
FTITechnipFMC plc	—	−15,500	—	exited	0.00 pp	—