Glenn Greenberg Brave Warrior Advisors
Glenn Greenberg is the founder of Brave Warrior Advisors, a concentrated equity firm that evolved from earlier vehicles including Chieftain Capital. He is known for in-depth research, relatively few holdings, and a focus on businesses with strong competitive positions. Greenberg’s portfolio disclosures attract investors who follow classic fundamental concentration.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
DFS
Discover Financial Services
DFS
|
+$237M |
| 2 |
Elevance Health
ELV
|
+$139M |
| 3 |
Lennar Class A
LEN
|
+$35.2M |
| 4 |
Fidelity National Financial
FNF
|
+$16.3M |
| 5 |
Louisiana-Pacific
LPX
|
+$15.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apollo Global Management
APO
|
+$91.1M |
| 2 |
Lithia Motors
LAD
|
+$80.6M |
| 3 |
United Rentals
URI
|
+$48.2M |
| 4 |
D.R. Horton
DHI
|
+$25.6M |
| 5 |
Primerica
PRI
|
+$5.73M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 61.84% |
| 2 | Healthcare | 17.72% |
| 3 | Consumer Discretionary | 14.66% |
| 4 | Industrials | 4.96% |
| 5 | Energy | 0.69% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
UnitedHealth
UNH
$350B
| $358K | 0.01% |
710
-396
| -36% | -$195K |
|
27
Amazon
AMZN
$2.79T
| $343K | 0.01% |
2,700
| – | – |
|
28
First American
FAF
$7.33B
| $339K | 0.01% |
6,000
-400
| -6% | -$24K |
|
29
HCA Healthcare
HCA
$92.9B
| $338K | 0.01% |
1,373
| – | – |
|
30
Enterprise Products Partners
EPD
$82.1B
| $274K | 0.01% |
+10,000
| New | +$267K |
|
31
Progressive
PGR
$127B
| $243K | 0.01% |
1,746
| – | – |
|
32
Marriott International
MAR
$92.9B
| $235K | 0.01% |
1,194
| – | – |
|
33
Icon
ICLR
$13.3B
| $234K | 0.01% |
950
| – | – |
|
34
Wells Fargo
WFC
$254B
| $215K | 0.01% |
5,250
| – | – |
|
|
CMA
35
DELISTED
Comerica
CMA
| – | – |
-7,500
| Closed | -$318K |
|
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Glenn Greenberg's Q3 2023 Portfolio in Review
As of Q3 2023, Glenn Greenberg held 35 positions worth $4.01B, up 5.8% from $3.78B the previous quarter. Its ten largest holdings account for 86% of the portfolio.
Glenn Greenberg deployed $179M of net new capital in Q3 2023, opening 3 new positions and adding to 3 existing holdings. Its largest new stake was Discover Financial Services: 2,381,258 shares worth $206M.
By sector, the portfolio is most concentrated in Financials at 62% of assets, up from 59% a quarter earlier, followed by Healthcare and Consumer Discretionary.
On the sell side, the largest reduction was Apollo Global Management, an estimated $91.1M trimmed.
- Glenn Greenberg's largest Q3 2023 buy was Discover Financial Services: 2,381,258 shares worth $206M.
- Glenn Greenberg added most to Elevance Health in Q3 2023, an estimated $139M increase.
- Glenn Greenberg's biggest Q3 2023 reduction was Apollo Global Management, cutting an estimated $91.1M.
- Glenn Greenberg fully exited Comerica in Q3 2023, selling an estimated $318K.
- Glenn Greenberg's ten largest holdings make up 86% of its $4.01B portfolio in Q3 2023.
- Glenn Greenberg opened 3 new positions and closed 1 in Q3 2023.
- Glenn Greenberg's portfolio value rose 5.8% quarter-over-quarter to $4.01B.
Based on Brave Warrior Advisors's 13F filing for Q3 2023, filed 14 Nov 2023.