Greenhaven Associates Portfolio holdings
Greenhaven Associates is a private investment management firm founded by Ed Wachenheim III, who is also its chairman. Greenhaven invests with a horizon of three to four years and reportedly pays little attention to short-term or relative performance. Its clients include high net worth individuals, university endowments and nonprofits. In 2018 Wachenheim published a book, Common Stocks and Common Sense, about his approach as a value investor.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Lennar Class A
LEN
|
+$146M |
| 2 |
Becton Dickinson
BDX
|
+$38.7M |
| 3 |
D.R. Horton
DHI
|
+$36.2M |
| 4 |
Vanguard 0-3 Month Treasury Bill ETF
VBIL
|
+$14.9M |
| 5 |
Meritage Homes
MTH
|
+$4.96M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Accenture
ACN
|
+$421M |
| 2 |
Lear
LEA
|
+$80.3M |
| 3 |
Arrow Electronics
ARW
|
+$58.9M |
| 4 |
IQVIA
IQV
|
+$53.9M |
| 5 |
Avnet
AVT
|
+$51.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 39.88% |
| 2 | Healthcare | 30.03% |
| 3 | Miscellaneous | 13.3% |
| 4 | Technology | 8.27% |
| 5 | Industrials | 4.95% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Lennar Class A
LEN
$21.9B
| $1.07B | 13.38% |
13,055,103
+1,738,824
| +15% | +$146M |
2015 Q4
43 quarters
|
|
|
2
Becton Dickinson
BDX
$57B
| $1.06B | 13.28% |
5,904,730
+223,022
| +4% | +$38.7M |
2026 Q2
1 quarter
|
|
3
Toll Brothers
TOL
$14.6B
| $756M | 9.5% |
5,614,009
-16,100
| -0.3% | -$2.34M |
2016 Q1
42 quarters
|
|
4
Pultegroup
PHM
$25.9B
| $626M | 7.86% |
5,394,549
-61,400
| -1% | -$7.72M |
2022 Q2
17 quarters
|
|
5
Icon
ICLR
$15.2B
| $522M | 6.55% |
3,069,015
-31,600
| -1% | -$5.31M |
2025 Q2
5 quarters
|
|
|
6
D.R. Horton
DHI
$42.6B
| $513M | 6.44% |
3,753,844
+248,044
| +7% | +$36.2M |
2014 Q4
47 quarters
|
|
7
Avantor
AVTR
$10.6B
| $367M | 4.6% |
24,359,610
-277,700
| -1% | -$3.73M |
2025 Q3
4 quarters
|
|
|
8
Arrow Electronics
ARW
$10.3B
| $337M | 4.24% |
1,486,774
-277,379
| -16% | -$58.9M |
2023 Q1
14 quarters
|
|
9
Oshkosh
OSK
$8.74B
| $326M | 4.09% |
2,527,880
-30,800
| -1% | -$4.55M |
2022 Q3
16 quarters
|
|
|
10
Avnet
AVT
$7.05B
| $320M | 4.02% |
3,205,515
-567,346
| -15% | -$51.8M |
2022 Q3
16 quarters
|
|
11
Baxter International
BAX
$13.7B
| $298M | 3.74% |
12,396,504
-1,888,724
| -13% | -$46.4M |
2025 Q3
4 quarters
|
|
12
SLB Ltd
SLB
$76.1B
| $183M | 2.3% |
3,750,244
-52,100
| -1% | -$2.68M |
2025 Q4
3 quarters
|
|
|
13
IQVIA
IQV
$43.5B
| $147M | 1.84% |
544,925
-223,120
| -29% | -$53.9M |
2026 Q2
1 quarter
|
|
14
NOV
NOV
$6.43B
| $98.9M | 1.24% |
5,281,619
-338,400
| -6% | -$6.8M |
2023 Q3
12 quarters
|
|
|
15
Lear
LEA
$5.72B
| $98.5M | 1.24% |
834,527
-621,406
| -43% | -$80.3M |
2020 Q2
25 quarters
|
|
|
16
Meritage Homes
MTH
$4.72B
| $86M | 1.08% |
1,367,579
+70,085
| +5% | +$4.96M |
2022 Q2
17 quarters
|
|
17
DNOW Inc
DNOW
$2.78B
| $67.8M | 0.85% |
4,377,190
+33,573
| +0.8% | +$504K |
2026 Q1
2 quarters
|
|
|
18
Vanguard 0-3 Month Treasury Bill ETF
VBIL
$11.4B
| $65M | 0.82% |
858,916
+196,916
| +30% | +$14.9M |
2025 Q3
4 quarters
|
|
19
Lennar Class B
LEN.B
$21.5B
| $29.3M | 0.37% |
365,959
+1,900
| +0.5% | +$157K |
2017 Q4
35 quarters
|
|
20
Agilent Technologies
A
$49.9B
| $1.84M | 0.02% |
10,700
| – | – |
2013 Q2
53 quarters
|
|
21
CRH
CRH
$65.7B
| $1.45M | 0.02% |
17,500
| – | – |
2022 Q2
17 quarters
|
|
22
Charles Schwab
SCHW
$161B
| $1.03M | 0.01% |
10,500
-2,000
| -16% | -$211K |
2020 Q2
25 quarters
|
|
23
Union Pacific
UNP
$183B
| $553K | 0.01% |
2,032
| – | – |
2016 Q4
39 quarters
|
|
24
JPMorgan Chase
JPM
$935B
| $331K | ﹤0.01% |
1,000
-1,500
| -60% | -$525K |
2014 Q4
47 quarters
|
|
25
Genpact
G
$6.82B
| $325K | ﹤0.01% |
10,000
| – | – |
2023 Q4
11 quarters
|
|
Similar funds
Greenhaven Associates's Q3 2026 Portfolio in Review
As of Q3 2026, Greenhaven Associates held 29 positions worth $7.96B, down 8.1% from $8.66B the previous quarter. Its ten largest holdings account for 82% of the portfolio.
Greenhaven Associates withdrew a net $549M in Q3 2026, closing 2 positions and reducing 14 holdings. Its most notable exit was Accenture, an estimated $421M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 40% of assets, down from 42% a quarter earlier, followed by Healthcare and Miscellaneous.
Against the trend, Greenhaven Associates opened a new position in Bath & Body Works worth $159K.
- Greenhaven Associates's largest Q3 2026 buy was Bath & Body Works: 10,000 shares worth $159K.
- Greenhaven Associates added most to Lennar Class A in Q3 2026, an estimated $146M increase.
- Greenhaven Associates's biggest Q3 2026 reduction was Lear, cutting an estimated $80.3M.
- Greenhaven Associates fully exited Accenture in Q3 2026, selling an estimated $421M.
- Greenhaven Associates's ten largest holdings make up 82% of its $7.96B portfolio in Q3 2026.
- Greenhaven Associates opened 1 new position and closed 2 in Q3 2026.
- Greenhaven Associates's portfolio value fell 8.1% quarter-over-quarter to $7.96B.
Based on Greenhaven Associates's 13F filing for Q3 2026, filed 26 Oct 2026.