Longview Partners Portfolio holdings
Longview Partners is a specialist global equity manager that holds a concentrated portfolio of world stocks, using the same philosophy since it started in 2001. It looks for high-quality businesses that can build value steadily over time, wants a margin of safety on price, and relies on picking individual stocks rather than steering the overall portfolio. Its clients are institutions, and Northill Capital is its majority shareholder.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
IQVIA
IQV
|
+$650M |
| 2 |
Pediatrix Medical
MD
|
+$233M |
| 3 |
Dollar General
DG
|
+$93.6M |
| 4 |
American Express
AXP
|
+$74.1M |
| 5 |
Aptiv
APTV
|
+$52.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TWX
Time Warner Inc
TWX
|
+$704M |
| 2 |
Truist Financial
TFC
|
+$638M |
| 3 |
UnitedHealth
UNH
|
+$113M |
| 4 |
Accenture
ACN
|
+$78.1M |
| 5 |
Parker-Hannifin
PH
|
+$44.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 27.53% |
| 2 | Financials | 24.54% |
| 3 | Technology | 24.17% |
| 4 | Industrials | 16.44% |
| 5 | Consumer Discretionary | 4.45% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Bank of New York Mellon
BNY
$99B
| $792M | 5.24% |
16,723,286
-424,800
| -2% | -$19.2M |
2013 Q2
14 quarters
|
|
2
Aon
AON
$68.2B
| $788M | 5.21% |
7,067,987
-156,206
| -2% | -$17.4M |
2013 Q2
14 quarters
|
|
|
3
Parker-Hannifin
PH
$113B
| $741M | 4.9% |
5,292,172
-337,560
| -6% | -$44.9M |
2015 Q2
6 quarters
|
|
|
4
UnitedHealth
UNH
$365B
| $738M | 4.88% |
4,612,053
-754,868
| -14% | -$113M |
2014 Q1
11 quarters
|
|
5
Fidelity National Information Services
FIS
$19.9B
| $724M | 4.78% |
9,568,464
-321,037
| -3% | -$24.5M |
2013 Q2
14 quarters
|
|
6
Progressive
PGR
$134B
| $715M | 4.72% |
20,130,766
-279,100
| -1% | -$9.23M |
2015 Q1
7 quarters
|
|
7
Emerson Electric
EMR
$92B
| $712M | 4.71% |
12,779,298
-300,400
| -2% | -$16.2M |
2015 Q1
7 quarters
|
|
8
TE Connectivity
TEL
$61.2B
| $706M | 4.66% |
10,188,929
-292,500
| -3% | -$19.4M |
2013 Q2
14 quarters
|
|
9
W.W. Grainger
GWW
$64B
| $694M | 4.59% |
2,989,184
-42,940
| -1% | -$9.6M |
2015 Q4
4 quarters
|
|
10
Wells Fargo
WFC
$250B
| $690M | 4.56% |
12,520,273
-128,300
| -1% | -$6.45M |
2013 Q2
14 quarters
|
|
11
HCA Healthcare
HCA
$98.8B
| $679M | 4.49% |
9,177,049
+38,030
| +0.4% | +$2.85M |
2013 Q3
13 quarters
|
|
|
12
Aptiv
APTV
$9.12B
| $673M | 4.45% |
9,997,918
+784,090
| +9% | +$52.7M |
2013 Q2
14 quarters
|
|
13
Zimmer Biomet
ZBH
$18B
| $665M | 4.39% |
6,636,417
+155,654
| +2% | +$16.7M |
2015 Q3
5 quarters
|
|
|
14
Accenture
ACN
$158B
| $651M | 4.3% |
5,556,181
-657,982
| -11% | -$78.1M |
2013 Q2
14 quarters
|
|
15
Willis Towers Watson
WTW
$29.9B
| $649M | 4.29% |
5,307,796
+117,300
| +2% | +$14.6M |
2016 Q2
2 quarters
|
|
|
16
IQVIA
IQV
$44.1B
| $644M | 4.26% |
+8,472,766
| New | +$650M |
2016 Q4
0 quarters
|
|
17
Oracle
ORCL
$396B
| $627M | 4.15% |
16,317,469
-173,600
| -1% | -$6.79M |
2013 Q2
14 quarters
|
|
18
Thermo Fisher Scientific
TMO
$258B
| $616M | 4.07% |
4,367,526
-186,213
| -4% | -$27.5M |
2015 Q3
5 quarters
|
|
19
Pfizer
PFE
$174B
| $585M | 3.87% |
18,983,608
-153,673
| -0.8% | -$4.69M |
2013 Q2
14 quarters
|
|
20
Fiserv Inc
FISV
$26.6B
| $572M | 3.78% |
10,766,000
+366,000
| +4% | +$18.8M |
2013 Q2
14 quarters
|
|
|
TMX
21
DELISTED
Terminix Global Holdings, Inc.
TMX
| $341M | 2.25% |
13,518,248
-162,737
| -1% | -$3.99M |
2016 Q2
2 quarters
|
|
22
Omnicom Group
OMC
$22.3B
| $339M | 2.24% |
3,982,801
-102,010
| -2% | -$8.56M |
2014 Q1
11 quarters
|
|
|
23
Pediatrix Medical
MD
$2.33B
| $238M | 1.58% |
+3,575,550
| New | +$233M |
2016 Q4
0 quarters
|
|
24
Arrow Electronics
ARW
$10.6B
| $202M | 1.34% |
2,835,875
-55,220
| -2% | -$3.65M |
2013 Q2
14 quarters
|
|
25
Avnet
AVT
$7.25B
| $175M | 1.16% |
3,682,974
-41,910
| -1% | -$1.87M |
2013 Q2
14 quarters
|
|
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Longview Partners's Q4 2016 Portfolio in Review
As of Q4 2016, Longview Partners held 29 positions worth $15.1B, down 2% from $15.4B the previous quarter. Its ten largest holdings account for 48% of the portfolio.
Longview Partners withdrew a net $601M in Q4 2016, closing 2 positions and reducing 18 holdings. Its most notable exit was Time Warner Inc, an estimated $704M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 28% of assets, up from 23% a quarter earlier, followed by Financials and Technology.
Against the trend, Longview Partners opened a new position in IQVIA worth $644M.
- Longview Partners's largest Q4 2016 buy was IQVIA: 8,472,766 shares worth $644M.
- Longview Partners added most to Aptiv in Q4 2016, an estimated $52.7M increase.
- Longview Partners's biggest Q4 2016 reduction was UnitedHealth, cutting an estimated $113M.
- Longview Partners fully exited Time Warner Inc in Q4 2016, selling an estimated $704M.
- Longview Partners's ten largest holdings make up 48% of its $15.1B portfolio in Q4 2016.
- Longview Partners opened 4 new positions and closed 2 in Q4 2016.
- Longview Partners's portfolio value fell 2% quarter-over-quarter to $15.1B.
Based on Longview Partners's 13F filing for Q4 2016, filed 10 Feb 2017.