Greenhaven Associates

Q3 2024 13F · by Edgar Wachenheim, founder

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

+1.7 pp in · −1.7 pp out

Very concentrated · behaves like 9 equal-sized positions

Low turnover · 3.5% a year, about 28.6 years per position


LENLennar Corporation Class A	19.98%	9,087,186	$1.7B	added+1%	+2.31 pp	36 q
GMGeneral Motors Company	12.53%	23,830,856	$1.1B	added+2%	−1.67 pp	27 q
CCitigroup Inc.	12.39%	16,883,391	$1.1B	added+1%	−1.48 pp	12 q
CRHCRH Public Limited Company	12.13%	11,155,273	$1.0B	added0%	+1.18 pp	5 q
TOLToll Brothers, Inc.	10.04%	5,542,130	$856M	trimmed−0%	+1.62 pp	35 q
PHMPultegroup, Inc.	9.41%	5,593,179	$803M	added0%	+1.34 pp	10 q
DHID.R. Horton Inc.	8.21%	3,671,505	$700M	added0%	+1.41 pp	40 q
OSKOshkosh Corp.	2.98%	2,536,484	$254M	added+1%	−0.60 pp	9 q
ARWArrow Electronics, Inc.	2.94%	1,884,373	$250M	added0%	−0.05 pp	7 q
AVTAvnet, Inc.	2.50%	3,924,652	$213M	added0%	−0.15 pp	9 q
LEALear Corporation	2.33%	1,819,646	$199M	added0%	−0.40 pp	18 q
MTHMeritage Homes Corporation	1.79%	744,363	$153M	trimmed−4%	+0.15 pp	10 q
TEXTerex Corporation	0.93%	1,499,843	$79M	added0%	−0.15 pp	6 q
LEN.BLennar Corporation Class B	0.74%	364,331	$63M	trimmed−25%	−0.14 pp	28 q
GGenpact Limited	0.57%	1,243,813	$49M	added0%	+0.05 pp	4 q
NOVNOV Inc.	0.38%	2,035,376	$33M	added+13%	−0.07 pp	5 q
GSGoldman Sachs Group Inc.	0.05%	9,040	$4M	trimmed−84%	−0.29 pp	42 q
AAgilent Technologies Inc.	0.02%	10,700	$2M	held	—	46 q
IPInternational Paper Co.	0.02%	35,288	$2M	trimmed−99%	−3.04 pp	12 q
SCHWThe Charles Schwab Corporation	0.02%	20,000	$1M	held	—	18 q
BRK.BBERKSHIRE HATHAWAY Class B	0.01%	1,001	$460,720	held	—	18 q
JPMJPMorgan Chase & Co.	0.01%	5,000	$1M	trimmed−33%	−0.01 pp	40 q
MSMorgan Stanley	0.01%	10,000	$1M	held	—	19 q
UNPUnion Pacific Corp.	0.01%	2,032	$500,847	held	—	32 q
MMM3M Company	—	−2,368	—	exited	0.00 pp	—