Edgar Wachenheim Greenhaven Associates
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
NOV
NOV
|
+$19.6M |
| 2 |
Lennar Class A
LEN
|
+$13M |
| 3 |
Arrow Electronics
ARW
|
+$2.53M |
| 4 |
Lear
LEA
|
+$2.25M |
| 5 |
Avnet
AVT
|
+$2.07M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CRH
CRH
|
+$1.01B |
| 2 |
Goldman Sachs
GS
|
+$3.65M |
| 3 |
Pultegroup
PHM
|
+$1.16M |
| 4 |
Meritage Homes
MTH
|
+$976K |
| 5 |
Citigroup
C
|
+$851K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 50.4% |
| 2 | Financials | 17.65% |
| 3 | Technology | 7.04% |
| 4 | Industrials | 4.62% |
| 5 | Materials | 0.86% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Lennar Class A
LEN
$21B
| $1.25B | 18.49% |
9,467,171
+80,108
| +0.9% | +$13M |
|
|
2
Citigroup
C
$221B
| $1.19B | 17.57% |
16,870,765
-12,626
| -0.1% | -$851K |
|
3
Toll Brothers
TOL
$13.7B
| $697M | 10.32% |
5,536,503
-5,627
| -0.1% | -$836K |
|
|
4
Pultegroup
PHM
$24.6B
| $608M | 9% |
5,584,228
-8,951
| -0.2% | -$1.16M |
|
5
D.R. Horton
DHI
$41.5B
| $513M | 7.59% |
3,671,563
+58
| +0% | +$9.69K |
|
6
Oshkosh
OSK
$9.7B
| $243M | 3.59% |
2,552,106
+15,622
| +0.6% | +$1.64M |
|
|
7
Arrow Electronics
ARW
$10.7B
| $215M | 3.19% |
1,904,857
+20,484
| +1% | +$2.53M |
|
|
8
Avnet
AVT
$7.27B
| $207M | 3.07% |
3,962,837
+38,185
| +1% | +$2.07M |
|
|
9
Lear
LEA
$8.56B
| $174M | 2.58% |
1,842,247
+22,601
| +1% | +$2.25M |
|
|
10
Meritage Homes
MTH
$4.67B
| $114M | 1.68% |
1,478,026
-10,700
| -0.7% | -$976K |
|
11
Terex
TEX
$7.6B
| $69.5M | 1.03% |
1,503,133
+3,290
| +0.2% | +$172K |
|
|
12
CRH
CRH
$63.2B
| $58.5M | 0.86% |
631,793
-10,523,480
| -94% | -$1.01B |
|
13
Genpact
G
$6.24B
| $52.8M | 0.78% |
1,230,338
-13,475
| -1% | -$569K |
|
|
14
Lennar Class B
LEN.B
$20.6B
| $48.1M | 0.71% |
382,990
-286
| -0.1% | -$43K |
|
|
15
NOV
NOV
$7.28B
| $48M | 0.71% |
3,291,042
+1,255,666
| +62% | +$19.6M |
|
16
International Paper
IP
$22B
| $1.9M | 0.03% |
35,288
| – | – |
|
|
SCHW
17
Charles Schwab
SCHW
$194B
| $1.48M | 0.02% |
20,000
| – | – |
|
18
Agilent Technologies
A
$44.9B
| $1.44M | 0.02% |
10,700
| – | – |
|
|
19
Goldman Sachs
GS
$303B
| $1.43M | 0.02% |
2,500
-6,540
| -72% | -$3.65M |
|
20
Morgan Stanley
MS
$336B
| $1.26M | 0.02% |
10,000
| – | – |
|
21
JPMorgan Chase
JPM
$935B
| $1.2M | 0.02% |
5,000
| – | – |
|
22
Union Pacific
UNP
$183B
| $463K | 0.01% |
2,032
| – | – |
|
23
Berkshire Hathaway Class B
BRK.B
$1.06T
| $454K | 0.01% |
1,001
| – | – |
|
Similar funds
Edgar Wachenheim's Q4 2024 Portfolio in Review
As of Q4 2024, Edgar Wachenheim held 24 positions worth $6.76B, down 21% from $8.53B the previous quarter. Its ten largest holdings account for 94% of the portfolio.
Edgar Wachenheim withdrew a net $985M in Q4 2024, reducing 9 holdings. Its largest reduction was CRH, cutting an estimated $1.01B.
By sector, the portfolio is most concentrated in Consumer Discretionary at 50% of assets, down from 53% a quarter earlier, followed by Financials and Technology.
Against the trend, Edgar Wachenheim added an estimated $19.6M to NOV.
- Edgar Wachenheim added most to NOV in Q4 2024, an estimated $19.6M increase.
- Edgar Wachenheim's biggest Q4 2024 reduction was CRH, cutting an estimated $1.01B.
- Edgar Wachenheim's ten largest holdings make up 94% of its $6.76B portfolio in Q4 2024.
- Edgar Wachenheim opened 0 new positions and closed 0 in Q4 2024.
- Edgar Wachenheim's portfolio value fell 21% quarter-over-quarter to $6.76B.
Based on Greenhaven Associates's 13F filing for Q4 2024, filed 17 Jan 2025.