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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
-14.84%
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
$3.77B
AUM Growth
-$184M
Cap. Flow
+$768M
Cap. Flow %
20.36%
Top 10 Hldgs %
97.12%
Holding
23
New
2
Increased
8
Reduced
5
Closed
1

Top Buys

Rank Stock Value
1
WRK
WestRock Company
WRK
+$328M
2
IP icon
International Paper
IP
+$152M
3
JPM icon
JPMorgan Chase
JPM
+$94.8M
4
C icon
Citigroup
C
+$52.2M
5
SWK icon
Stanley Black & Decker
SWK
+$30.5M

Top Sells

Rank Stock Value
1
DHI icon
D.R. Horton
DHI
+$685K
2
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$485K
3
SCHW
Charles Schwab
SCHW
+$220K
4
RVTY icon
Revvity
RVTY
+$201K
5
WHR icon
Whirlpool
WHR
+$186K

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 53.55%
2 Financials 28.42%
3 Industrials 0.71%
4 Healthcare 0.04%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GS icon
1
Goldman Sachs
GS
$303B
$694M 18.4%
2,101,900
+76,735
+4% +$27.1M
LEN icon
2
Lennar Class A
LEN
$21B
$606M 16.08%
7,716,107
+283,360
+4% +$25.5M
WHR icon
3
Whirlpool
WHR
$2.63B
$490M 12.98%
2,833,609
-916
-0% -$186K
WRK
4
DELISTED
WestRock Company
WRK
$338M 8.95%
+7,176,300
New +$328M
C icon
5
Citigroup
C
$221B
$287M 7.61%
5,372,040
+844,900
+19% +$52.2M
TOL icon
6
Toll Brothers
TOL
$13.7B
$245M 6.5%
5,212,203
+19,407
+0.4% +$1.09M
IP icon
7
International Paper
IP
$22B
$231M 6.11%
4,995,325
+3,307,625
+196% +$152M
JPM icon
8
JPMorgan Chase
JPM
$935B
$88.2M 2.34%
647,011
+642,011
+12,840% +$94.8M
DHI icon
9
D.R. Horton
DHI
$41.5B
$54.3M 1.44%
729,385
-7,900
-1% -$685K
LEN.B icon
10
Lennar Class B
LEN.B
$20.6B
$33.8M 0.9%
520,706
+46,204
+10% +$3.42M
SWK icon
11
Stanley Black & Decker
SWK
$15.1B
$25.8M 0.69%
+184,823
New +$30.5M
LEA icon
12
Lear
LEA
$8.56B
$21.4M 0.57%
150,310
-500
-0.3% -$81.3K
PSQ icon
13
ProShares Short QQQ
PSQ
$620M
$11.6M 0.31%
201,000
– –
SH icon
14
ProShares Short S&P500
SH
$862M
$9.79M 0.26%
173,750
– –
SCHW
15
Charles Schwab
SCHW
$194B
$1.69M 0.04%
20,000
-2,500
-11% -$220K
A icon
16
Agilent Technologies
A
$44.9B
$1.42M 0.04%
10,700
– –
MDC
17
DELISTED
M.D.C. Holdings, Inc.
MDC
$946K 0.03%
25,000
– –
MS icon
18
Morgan Stanley
MS
$336B
$874K 0.02%
10,000
– –
UNP icon
19
Union Pacific
UNP
$183B
$555K 0.01%
2,032
– –
MMM icon
20
3M
MMM
$92.3B
$372K 0.01%
2,990
– –
BRK.B icon
21
Berkshire Hathaway Class B
BRK.B
$1.06T
$353K 0.01%
1,001
-1,500
-60% -$485K
RVTY icon
22
Revvity
RVTY
$13.9B
– –
-1,000
Closed -$201K

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Edgar Wachenheim's Q1 2022 Portfolio in Review

As of Q1 2022, Edgar Wachenheim held 23 positions worth $3.77B, down 4.6% from $3.95B the previous quarter. Its ten largest holdings account for 97% of the portfolio.

Edgar Wachenheim deployed $768M of net new capital in Q1 2022, opening 2 new positions and adding to 8 existing holdings. Its largest new stake was WestRock Company: 7,176,300 shares worth $338M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 54% of assets, up from 53% a quarter earlier, followed by Financials and Industrials.

On the sell side, the largest reduction was D.R. Horton, an estimated $685K trimmed.

  • Edgar Wachenheim's largest Q1 2022 buy was WestRock Company: 7,176,300 shares worth $338M.
  • Edgar Wachenheim added most to International Paper in Q1 2022, an estimated $152M increase.
  • Edgar Wachenheim's biggest Q1 2022 reduction was D.R. Horton, cutting an estimated $685K.
  • Edgar Wachenheim fully exited Revvity in Q1 2022, selling an estimated $201K.
  • Edgar Wachenheim's ten largest holdings make up 97% of its $3.77B portfolio in Q1 2022.
  • Edgar Wachenheim opened 2 new positions and closed 1 in Q1 2022.
  • Edgar Wachenheim's portfolio value fell 4.6% quarter-over-quarter to $3.77B.

Based on Greenhaven Associates's 13F filing for Q1 2022, filed 4 May 2022.