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EW

Edgar Wachenheim Greenhaven Associates

AUM $8.66B
1-Year Est. Return 17.37%
 

Edgar Wachenheim III is the long-time leader of Greenhaven Associates, a concentrated value-oriented investment firm. Greenhaven is known for large positions in a limited number of equities and a multi-year investment horizon. Wachenheim’s approach emphasizes intrinsic value, patience, and a willingness to look different from the index.

This Fund
S&P 500
This Quarter Est. Return
+3.9%
1 Year Est. Return
+17.37%
3 Year Est. Return
+57.99%
5 Year Est. Return
+64.45%
10 Year Est. Return
+297.25%
AUM
$5.24B
AUM Growth
+$144M
Cap. Flow
-$47.8M
Cap. Flow %
-0.91%
Top 10 Hldgs %
87.43%
Holding
23
New
1
Increased
11
Reduced
8
Closed
1

Top Buys

Rank Stock Value
1
BA icon
Boeing
BA
+$54.1M
2
C icon
Citigroup
C
+$28.7M
3
TOL icon
Toll Brothers
TOL
+$20.1M
4
PHM icon
Pultegroup
PHM
+$16.6M
5
LEN icon
Lennar Class A
LEN
+$12.2M

Top Sells

Rank Stock Value
1
MAS icon
Masco
MAS
+$58.5M
2
LOW icon
Lowe's Companies
LOW
+$53.8M
3
FDX icon
FedEx
FDX
+$43.2M
4
MMM icon
3M
MMM
+$31.2M
5
JPM icon
JPMorgan Chase
JPM
+$25.6M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 32.69%
2 Financials 31.57%
3 Industrials 23.9%
4 Materials 1.91%
5 Healthcare 0.01%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FDX icon
1
FedEx
FDX
$76.9B
$787M 15.02%
4,507,547
-264,014
-6% -$43.2M
GS icon
2
Goldman Sachs
GS
$303B
$604M 11.52%
3,745,784
-1,889
-0.1% -$307K
LOW icon
3
Lowe's Companies
LOW
$121B
$550M 10.5%
7,621,686
-691,505
-8% -$53.8M
C icon
4
Citigroup
C
$221B
$532M 10.15%
11,269,908
+631,024
+6% +$28.7M
JPM icon
5
JPMorgan Chase
JPM
$935B
$519M 9.89%
7,788,657
-392,612
-5% -$25.6M
WHR icon
6
Whirlpool
WHR
$2.63B
$424M 8.09%
2,614,785
-10,453
-0.4% -$1.85M
BA icon
7
Boeing
BA
$169B
$228M 4.34%
1,728,295
+410,708
+31% +$54.1M
LEN icon
8
Lennar Class A
LEN
$21B
$214M 4.09%
5,314,840
+275,118
+5% +$12.2M
DHI icon
9
D.R. Horton
DHI
$41.5B
$205M 3.91%
6,779,531
+111,616
+2% +$3.58M
OC icon
10
Owens Corning
OC
$11.7B
$172M 3.29%
3,230,057
-56,349
-2% -$3.03M
PHM icon
11
Pultegroup
PHM
$24.6B
$111M 2.12%
5,551,865
+800,784
+17% +$16.6M
TOL icon
12
Toll Brothers
TOL
$13.7B
$100M 1.91%
3,351,661
+696,728
+26% +$20.1M
USG
13
DELISTED
Usg
USG
$91.9M 1.75%
3,553,971
-25,077
-0.7% -$696K
TPH
14
DELISTED
Tri Pointe Homes
TPH
$68M 1.3%
5,157,807
+148,288
+3% +$1.96M
ACM icon
15
Aecom
ACM
$8.34B
$55.9M 1.07%
1,879,907
+370,992
+25% +$12M
CAA
16
DELISTED
CalAtlantic Group, Inc.
CAA
$41.1M 0.78%
1,227,921
+244,388
+25% +$8.95M
MMM icon
17
3M
MMM
$92.3B
$8.81M 0.17%
59,800
-208,737
-78% -$31.2M
PX
18
DELISTED
Praxair Inc
PX
$8.03M 0.15%
66,441
– –
STRL icon
19
Sterling Infrastructure
STRL
$15.8B
$655K 0.01%
84,623
+5,537
+7% +$35K
A icon
20
Agilent Technologies
A
$44.9B
$504K 0.01%
10,700
– –
AMTD
21
DELISTED
TD Ameritrade Holding Corp
AMTD
$241K ﹤0.01%
+6,840
New +$213K
MAS icon
22
Masco
MAS
$14.5B
– –
-1,891,568
Closed -$58.5M

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Edgar Wachenheim's Q3 2016 Portfolio in Review

As of Q3 2016, Edgar Wachenheim held 23 positions worth $5.24B, up 2.8% from $5.1B the previous quarter. Its ten largest holdings account for 87% of the portfolio.

Edgar Wachenheim's Q3 2016 filing shows 1 new, 11 increased, 8 reduced and 1 closed positions. Its largest new stake was TD Ameritrade Holding Corp: 6,840 shares worth $241K. The largest sale was Masco, an estimated $58.5M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 33% of assets, down from 35% a quarter earlier, followed by Financials and Industrials.

  • Edgar Wachenheim's largest Q3 2016 buy was TD Ameritrade Holding Corp: 6,840 shares worth $241K.
  • Edgar Wachenheim added most to Boeing in Q3 2016, an estimated $54.1M increase.
  • Edgar Wachenheim's biggest Q3 2016 reduction was Lowe's Companies, cutting an estimated $53.8M.
  • Edgar Wachenheim fully exited Masco in Q3 2016, selling an estimated $58.5M.
  • Edgar Wachenheim's ten largest holdings make up 87% of its $5.24B portfolio in Q3 2016.
  • Edgar Wachenheim opened 1 new position and closed 1 in Q3 2016.
  • Edgar Wachenheim's portfolio value rose 2.8% quarter-over-quarter to $5.24B.

Based on Greenhaven Associates's 13F filing for Q3 2016, filed 4 Nov 2016.