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 |
Antero Resources
AR
|
+$139M |
| 2 |
Liberty Global Class A
LBTYA
|
+$41.2M |
| 3 |
Liberty Global Class C
LBTYK
|
+$21.9M |
| 4 |
Brookfield
BN
|
+$3.1M |
| 5 |
BBU
Brookfield Business Partners
BBU
|
+$2.68M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Halliburton
HAL
|
+$199M |
| 2 |
JPMorgan Chase
JPM
|
+$119M |
| 3 |
Cimpress
CMPR
|
+$79.8M |
| 4 |
Bausch Health
BHC
|
+$53.5M |
| 5 |
Axalta
AXTA
|
+$51.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 46.64% |
| 2 | Energy | 17.6% |
| 3 | Industrials | 13.3% |
| 4 | Communication Services | 12.81% |
| 5 | Materials | 4.48% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Antero Resources
AR
$11.7B
| $241M | 13.49% |
9,285,336
+5,080,141
| +121% | +$139M |
|
|
2
Brookfield
BN
$93.1B
| $236M | 13.2% |
19,993,507
+259,250
| +1% | +$3.1M |
|
|
SCHW
3
Charles Schwab
SCHW
$194B
| $235M | 13.17% |
9,299,975
-254,431
| -3% | -$7.23M |
|
|
4
Cimpress
CMPR
$2.13B
| $235M | 13.15% |
2,542,574
-851,191
| -25% | -$79.8M |
|
|
5
Liberty Global Class C
LBTYK
$3.55B
| $190M | 10.61% |
6,620,387
+694,127
| +12% | +$21.9M |
|
6
Primerica
PRI
$9.1B
| $187M | 10.48% |
3,272,256
-39,685
| -1% | -$2.06M |
|
|
7
JPMorgan Chase
JPM
$935B
| $175M | 9.79% |
2,815,045
-1,909,193
| -40% | -$119M |
|
|
JPM.WS
8
DELISTED
JPMorgan Chase
JPM.WS
| $92.5M | 5.17% |
4,567,863
-75,385
| -2% | -$1.57M |
|
|
9
Axalta
AXTA
$7.75B
| $80.2M | 4.48% |
3,021,244
-1,804,471
| -37% | -$51.1M |
|
|
10
Halliburton
HAL
$29.4B
| $73.3M | 4.1% |
1,619,013
-4,842,845
| -75% | -$199M |
|
|
11
Liberty Global Class A
LBTYA
$3.63B
| $36.9M | 2.06% |
+1,269,488
| New | +$41.2M |
|
|
BBU
12
DELISTED
Brookfield Business Partners
BBU
| $2.58M | 0.14% |
+210,364
| New | +$2.68M |
|
13
Liberty Latin America Class A
LILA
$1.66B
| $1.16M | 0.07% |
+56,334
| New | +$1.33M |
|
14
Comcast
CMCSA
$95.3B
| $1.01M | 0.06% |
31,094
| – | – |
|
15
AT&T
T
$173B
| $216K | 0.01% |
+6,612
| New | +$197K |
|
16
Bank of America
BAC
$431B
| $193K | 0.01% |
14,532
| – | – |
|
17
Tidewater
TDW
$4.74B
| $87K | ﹤0.01% |
608
| – | – |
|
|
18
Bausch Health
BHC
$2.41B
| – | – |
-2,034,281
| Closed | -$53.5M |
|
Similar funds
Glenn Greenberg's Q2 2016 Portfolio in Review
As of Q2 2016, Glenn Greenberg held 18 positions worth $1.79B, down 13% from $2.05B the previous quarter. Its ten largest holdings account for 98% of the portfolio.
Glenn Greenberg withdrew a net $305M in Q2 2016, closing 1 position and reducing 7 holdings. Its most notable exit was Bausch Health, an estimated $53.5M position sold in full.
By sector, the portfolio is most concentrated in Financials at 47% of assets, up from 46% a quarter earlier, followed by Energy and Industrials.
Against the trend, Glenn Greenberg opened a new position in Liberty Global Class A worth $36.9M.
- Glenn Greenberg's largest Q2 2016 buy was Liberty Global Class A: 1,269,488 shares worth $36.9M.
- Glenn Greenberg added most to Antero Resources in Q2 2016, an estimated $139M increase.
- Glenn Greenberg's biggest Q2 2016 reduction was Halliburton, cutting an estimated $199M.
- Glenn Greenberg fully exited Bausch Health in Q2 2016, selling an estimated $53.5M.
- Glenn Greenberg's ten largest holdings make up 98% of its $1.79B portfolio in Q2 2016.
- Glenn Greenberg opened 4 new positions and closed 1 in Q2 2016.
- Glenn Greenberg's portfolio value fell 13% quarter-over-quarter to $1.79B.
Based on Brave Warrior Advisors's 13F filing for Q2 2016, filed 15 Aug 2016.