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 |
Elevance Health
ELV
|
+$59.7M |
| 2 |
OneMain Financial
OMF
|
+$45.6M |
| 3 |
DFS
Discover Financial Services
DFS
|
+$23.3M |
| 4 |
Ryanair
RYAAY
|
+$717K |
| 5 |
Asbury Automotive
ABG
|
+$655K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apollo Global Management
APO
|
+$202M |
| 2 |
United Rentals
URI
|
+$186M |
| 3 |
Lennar Class A
LEN
|
+$55M |
| 4 |
D.R. Horton
DHI
|
+$54.5M |
| 5 |
F&G Annuities & Life
FG
|
+$17.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 65.75% |
| 2 | Healthcare | 19.8% |
| 3 | Consumer Discretionary | 13.24% |
| 4 | Energy | 0.68% |
| 5 | Industrials | 0.41% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
UnitedHealth
UNH
$350B
| $321K | 0.01% |
610
-100
| -14% | -$53.3K |
|
27
Progressive
PGR
$127B
| $278K | 0.01% |
1,746
| – | – |
|
28
Marriott International
MAR
$92.9B
| $269K | 0.01% |
1,194
| – | – |
|
29
Wells Fargo
WFC
$254B
| $258K | 0.01% |
5,250
| – | – |
|
30
KeyCorp
KEY
$23.3B
| $144K | ﹤0.01% |
+10,000
| New | +$119K |
|
31
Brunswick
BC
$5.24B
| – | – |
-6,828
| Closed | -$539K |
|
32
Enterprise Products Partners
EPD
$82.1B
| – | – |
-10,000
| Closed | -$274K |
|
33
First American
FAF
$7.33B
| – | – |
-6,000
| Closed | -$339K |
|
34
Icon
ICLR
$13.3B
| – | – |
-950
| Closed | -$234K |
|
35
Moody's
MCO
$87.2B
| – | – |
-3,150
| Closed | -$996K |
|
|
36
United Rentals
URI
$68.4B
| – | – |
-418,615
| Closed | -$186M |
|
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Glenn Greenberg's Q4 2023 Portfolio in Review
As of Q4 2023, Glenn Greenberg held 36 positions worth $4.19B, up 4.6% from $4.01B the previous quarter. Its ten largest holdings account for 92% of the portfolio.
Glenn Greenberg withdrew a net $407M in Q4 2023, closing 6 positions and reducing 14 holdings. Its most notable exit was United Rentals, an estimated $186M position sold in full.
By sector, the portfolio is most concentrated in Financials at 66% of assets, up from 62% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Glenn Greenberg opened a new position in Ryanair worth $870K.
- Glenn Greenberg's largest Q4 2023 buy was Ryanair: 16,315 shares worth $870K.
- Glenn Greenberg added most to Elevance Health in Q4 2023, an estimated $59.7M increase.
- Glenn Greenberg's biggest Q4 2023 reduction was Apollo Global Management, cutting an estimated $202M.
- Glenn Greenberg fully exited United Rentals in Q4 2023, selling an estimated $186M.
- Glenn Greenberg's ten largest holdings make up 92% of its $4.19B portfolio in Q4 2023.
- Glenn Greenberg opened 2 new positions and closed 6 in Q4 2023.
- Glenn Greenberg's portfolio value rose 4.6% quarter-over-quarter to $4.19B.
Based on Brave Warrior Advisors's 13F filing for Q4 2023, filed 14 Feb 2024.