Glenn Greenberg

Last Update: 02-14-2017

Number of Stocks: 20
Number of New Stocks: 2

Total Value: $2,097 Mil
Q/Q Turnover: 14%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Glenn Greenberg Watch

  • Cable & Wireless Could Be Worth Buying

    John Malone and his Liberty Global group are known for creating value for their investors. Through a combination of mergers, spinoffs, well-timed stock buybacks and efficient tax planning, Liberty Global has turned Malone into a billionaire and earned the respect of many of the world’s greatest investors.


    In the Liberty empire, the Liberty LiLAC Group (NASDAQ:LILA) entity is perhaps the most intriguing and misunderstood. LiLAC is the Latin American arm of Liberty Global and has been growing rapidly over the past 12 months. For the three months ended Sept. 30, 2016, LiLAC revenue more than doubled to $895 million, up from $309 million in the year-ago period.

      


  • How to Diversify Without Selling Stocks You Already Own and Love

    Someone emailed me this question:


      


  • What Is Value Gurus' Most Loved Stock?

    Investing alongside the world’s top value investors, or super investors, can be a profitable strategy if you know what you’re doing.


    Combing through super investor ideas and then conducting your own research to arrive at a suitable conclusion without blindly following hedge fund managers is the best way to go about this, and the best place to look for ideas is in 13F SEC filings, which are easy to access and understand.

      


  • Glenn Greenberg Gains 3 Positions in the 3rd Quarter

    Brave Warrior Advisors’ Glenn Greenberg (Trades, Portfolio) purchased three new holdings in the third quarter. They are HCA Holdings Inc. (NYSE:HCA), Sensata Technologies Holding NV (NYSE:ST) and LiLAC Group (NASDAQ:LILAK).


    Greenberg and John Shapiro founded Chieftain Capital Management in 1984. The firm was divided into two separate entities in 2010. Greenberg renamed Chieftain to Brave Warrior. Greenberg maintains a highly concentrated portfolio. He believes that the more companies you own, the less you know about each one. He believes this leads to mistakes. He generally invests in companies with little competition and emphasizes the return on invested capital.

      


  • Stan Druckenmiller Axes Halliburton, Gains 5 New Positions

    Stanley Druckenmiller (Trades, Portfolio), manager of Duquesne Capital Management LLC, managed George Soros (Trades, Portfolio)’s Quantum Fund in the late 1980s. In 1981, Druckenmiller founded Duquesne Capital, which has over $10 billion in assets according to reports.


    During the third quarter, the investor eliminated his stake in Halliburton Co. (NYSE:HAL) and invested in 22 new companies. His top buys include Alibaba Group Holding Co. (NYSE:BABA), Merck & Co. Inc. (NYSE:MRK), Broadcom Ltd. (NASDAQ:AVGO), Activision Blizzard Inc. (NASDAQ:ATVI) and Bank of America Corp. (NYSE:BAC).

      


  • How to Avoid the Same Mistakes Your Heroes Made

    Someone who reads my blog emailed me this question:


      


  • 18 Questions With Kevin Holloway

    Kevin Holloway is the owner of the Just Value blog.


    How and why did you get started investing? What is your background?

      


  • Hedge Funds Love Liberty and John Malone

    The dust has now settled from the most recent round of hedge fund 13F filings. While these filings provide more information to the SEC than to the average investor, looking at the positions of the world’s most revered investors are buying and selling each quarter can provide some insight into their strategies helping the average investor generate some ideas themselves.


    That being said, the average investor should never blindly follow a hedge fund titan into a position. There are many reasons why not, but the most important is that it is impossible to tell exactly why the fund manager has entered the position in the first place.

      


  • David Swensen Bets on Antero Resources

    David Swensen (Trades, Portfolio), the chief investment officer at Yale University since 1985, is responsible for managing and investing the university's endowment assets and investment funds, which total over $22 billion. The following are his heavily weighted trades during the fourth quarter.


    He acquired a new position and bought 8,740,871 shares in Antero Resources Corp. (AR) with an impact of 56% on the portfolio.

      


  • Glenn Greenberg Sells Stake in Microsoft

    Glenn Greenberg (Trades, Portfolio) of Brave Warrior Advisors made nearly three times as many sales as buys in the fourth quarter, led by the sale of his 6,280,742-share stake in Microsoft Corp. (NASDAQ:MSFT), a Redmond, Washington-based computer and consumer electronics company, for an average price of $52.81 per share.


    The divestiture had an -8.83% impact on Greenberg’s portfolio. It was the only stake Greenberg sold in the fourth quarter. He made other sales, but he retained portions of those stakes.

      


  • Bill Nygren Boosts Stakes in Halliburton, American Express, Caterpillar

    Bill Nygren (Trades, Portfolio) increased his stake in many stocks, but most of them were below 10%. He is portfolio manager of the Oakmark Fund. He and his partners are value investors, and they invest in companies that they believe trade at a substantial discount to what they consider to be the true business value.


    The biggest increase was in Halliburton Co. (HAL); the guru increased the stake by 51.13% at an average price of $39.34 per share. The position was established in Q4 2012 and in the first quarter he reduced the stake by 10.36%. The deal had an impact of 0.52% on the portfolio, and the stock price dropped 20%. The stock traded for $31.47 on Thursday.

      


  • Glenn Greenberg Sells Stake in Express Scripts Holding

    Glenn Greenberg (Trades, Portfolio) of Brave Warrior Advisors LLC made only 14 transactions in the third quarter, which is fewer than most of the gurus we follow tend to make in a quarter, demonstrating his dedication to his belief that a concentrated portfolio is a “defense against ignorance.” Few people, if any, would regard Greenberg as ignorant, but in his definition of ignorance, the more companies you own, the less you are likely to know about them and the more likely you are to make a mistake. Greenberg doesn't make many mistakes.


    Greenberg’s most noteworthy third-quarter deal was the sale of his 1,739,482-share stake in Express Scripts Holding Co. (NASDAQ:ESRX), a St. Louis-based health care and pharmaceutical company, for an average price of $87.1 per share. The divestiture had a -4.47% impact on Greenberg’s portfolio.

      


  • Simpson and Greenberg Buy Brookfield Despite Negative Report

    Recently the Probes Reporter wrote a negative report on Brookfield Asset Management (NYSE:BAM) calling it "An Unanalyzable Black Box." In the report it discusses several government investigations, lack of disclosures about the investigations and Brookfield Asset Management's financial engineering.


    This comes about 2½ years after the Southern Investigative Reporting Foundation "SIRF" wrote a negative report discussing Brookfield Asset Management's history, IFRS accounting practices and other issues. SIRF would write another report six months later in November 2013 further questioning Brookfield Asset Management.

      


  • John Burbank Jumping on the Google Train

    Alphabet (NASDAQ:GOOG)(NASDAQ:GOOGL) aka Google is one of the most popular stocks with gurus. In the aggregated guru portfolio its weighting is fourth only to Wells Fargo (NYSE:WFC), Valeant Pharmaceutical (NYSE:VRX) and Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B). Because the distribution of assets under management is quite top heavy, a few gurus heavily influence the aggregated portfolio. Valeant making the top four is also a product of a few gurus who run heavily concentrated portfolios like Glenn Greenberg (Trades, Portfolio) and Bill Ackman (Trades, Portfolio) who are betting the ranch on the troubled pharmaceutical.


    Wells Fargo, Berkshire Hathaway and Google are widely owned and important positions to many gurus. If we look at the number of gurus holding a certain stock Wells Fargo comes in at No. 1 again, but if we would add up the number of gurus holding GOOG and GOOGL it would surpass Wells Fargo easily with 31 > 26.

      


  • Top Guru Stakeholder Glenn Greenberg Doubles Money on Valeant After Plunge

    Glenn Greenberg (Trades, Portfolio), principal of Brave Warrior Advisors, still has a gain of 119% on his largest position, Valeant Pharmaceuticals International Inc. (NYSE:VRX), even after its shares plunged 20% Wednesday.


    Valeant, a $40.7 billion market cap drug corporation, has a prominent place in the portfolios of numerous hedge and mutual funds tracked by GuruFocus, including Bill Ackman (Trades, Portfolio), John Paulson (Trades, Portfolio) and Ruane Cunniff (Trades, Portfolio). Their portfolios suffered when short-seller Citron Research issued a scathing report accusing the company of stuffing its supply channels, sending the stock down as much as 33% before rebounding.

      


  • Glenn Greenberg Acquires Two New Stakes

    Value investor Glenn Greenberg (Trades, Portfolio) was once heralded as “the next Buffett.” When it comes to returns on investments, Greenberg has performed nearly as well as Warren Buffett in the last three decades; between 1984 and 2008, his fund, Chieftain Capital Management (now Brave Warrior Advisors), produced average annual returns of 25%.


    Greenberg bought two new stakes in the second quarter – Brookfield Asset Management Inc. (NYSE:BAM) and Antero Resources Corp. (NYSE:AR).

      


  • Are We On The Eve Of A Microsoft Resurgence?

    Everybody knows Microsoft (NASDAQ:MSFT). It is a major global player in software, services, devices and solutions in the business to consumer and business to business market. Its best-known products are the dominant PC software packages Windows and Office. Microsoft will launch a new iteration of Windows on July 29, 2015. This Windows 10 release has the potential to be a game changer, and that is why I am currently very interested in Microsoft. I’m certainly not the only one as it is a stock that features in many a value investing guru's portfolio. It would be too long a list to name them all but a few of the big names who have sunk a large chunk of their portfolio into the Redmond giant are Jeff Ubben of ValueAct Capital, David Abrams (Trades, Portfolio) of Abrams Capital Management, Glenn Greenberg (Trades, Portfolio) of Brave Warrior Advisors, Steven Romick (Trades, Portfolio) of the FPA Crescent Fund and Jean-Marie Eveillard of First Eagle U.S. Value.


    Financial strength

      


  • Acquisition in the Health Care Industry Increased Volatility

    In a previous article we discussed some reasons why Bill Ackman (Trades, Portfolio) initiated a position in Valeant Pharmaceuticals International (NYSE:VRX) to $3.87 billion, according to the fund's latest filing.


    On Friday, shares were down about 2% to $228.83. According to the Wall Street Journal, there was a potential buyout offer to buy animal-health giant Zoetis (NYSE:ZTS). Someone who is behind this move is activist investor Bill Ackman (Trades, Portfolio), who has taken a $2 billion stake in Zoetis and wanted the company to sell itself. Mr. Ackman also owns 5.7% of Valeant.

      


  • Brave Warrior Advisors' Undervalued Stocks

    Brave Warrior Advisors, LLC is an employee owned investment firm. The firm provides client focused equity portfolios, and also manages hedge funds. The original Chieftain hedge fund was founded by Glenn Greenberg (Trades, Portfolio) and John Shapiro in 1984 in New York City. Due to disagreements regarding management, the duo announced in 2009 that they would split the $2 billion fund, and in January 2010 Mr. Shapiro started the new Chieftain and Mr. Greenberg renamed his own fund Brave Warrior Advisors.


    The following are the most undervalued stocks in Brave Warrior’s portfolio.

      


  • Glenn Greenberg's Trades In Q1 2015

    Brave Warrior Advisors, LLC is an employee owned investment manager. The original Chieftain hedge fund was founded by Glenn Greenberg (Trades, Portfolio) and John Shapiro in 1984 in New York City with a capital of $40 million mostly from their families. Due to disagreements regarding management, the duo announced splitting of the $2 billion-plus fund in late 2009. Shapiro started the new Chieftain in January 2010, and Greenberg renamed his own fund Brave Warrior Advisors. The firm primarily provides its services to high net worth individuals.


    The portfolio of Glenn Greenberg is composed of 15 stocks and has a total value of $3,276 million. During the 2015 Q1 he did the following trades :

      


  • Weekly CEO Buys Highlight: KMI, JMP, CVA, TCO, HTH

    According to GuruFocus Insider Data, these are the largest CEO buys during the past week. The overall trend of CEOs is illustrated in the chart below:



    Kinder Morgan, Inc. (NYSE:KMI): Chairman and CEO Richard D Kinder Bought 100,000 Shares

      


  • The Stock Market: A Look at the Last 200 Years

    I spend virtually zero energy thinking about the overall stock market. I'm always aware of what the indices are doing, but I really don't pay attention to where I think they are headed or where they've been recently. As Munger has said, sometimes the tide will be with us and sometimes it will be against us, but the best thing to do is to just continue to focus on swimming forward.


    I think this has been going on for well over a year now, but lately I've been hearing about many people who are worried about the stock market. This is a natural enough concern after a 5-year period from 2009-2013 that saw the S&P 500 advance 15.4% per year before factoring in dividends. I would agree that it is a virtual certainty that the next 5 years will not equal or exceed the returns we've seen in the last 5 years from the S&P. But it's interesting to note the level of fear that exists in the market, even as the S&P continues to reach new highs. Many talk about the next "crash" as if another 2008 is right around the corner (maybe it is, maybe it isn't -– I don't participate in that game, but, as I'll demonstrate below, the odds are against that type of a market event in the near future).

      


  • Morning Coffee: Real-Time Picks

    Here are some of the latest Real-Time Picks from the gurus:


    Chase Coleman added a new holding of 3,600,000 shares of Tuniu Corp (TOUR) at the average price of $10.07 on 05/09/2014, as reported in the latest 13G filings by Chase Coleman (Trades, Portfolio). Tuniu operates as an online leisure travel company in China and had its IPO on May 5, 2014. Coleman is the only guru holding the stock.

      


  • Great Investor Glenn Greenberg Discusses His Investment Philosophy

    I recently watched a video lecture at Columbia from 2010 with Glenn Greenberg of Brave Warrior Advisors, and thought I’d share some thoughts.


    Greenberg is one of the best investors of the past three decades. His track record over that period is excellent. From 1984 to 2009, he and his partner Jon Shapiro ran a firm called Chieftain Capital, where they produced annual returns in the mid-20s until 2008, when Chieftain lost 25%. The next year, Greenberg and his partner split the firm up into two smaller firms, with Shapiro retaining the Cheiftain name and Greenberg now running his own firm called Brave Warrior.

      


  • Five Gurus Trade ONE - Ranked on Fast 500

    Reporting third quarter revenue at $57.1 million, an 11.5% increase year-over-year, Higher One Holdings Inc. (NYSE:ONE) provides financial services and data analytics to more than 1,600 college and university campuses in the U.S. Achieving more than 340% revenue growth over five years, the company recently received recognition, ranking 259th on Deloitte’s Technology Fast 500, a list of the 500 fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. The Fast 500 winners were chosen based on percentage fiscal year revenue growth from 2008 to 2012.

    Higher One’s CEO Mark Volchek commented in a company press release: “Higher One is pleased to be regarded by Deloitte for the fourth year in a row. We have grown by truly focusing on the higher education market—helping colleges and universities allocate resources more efficiently to provide a higher quality of service and education to college students. With this direction, we are on a shared course for success with our customers.”  


  • Digital Age - Glenn Greenberg Discusses Comcast Disney



  • Oracle Corporation (ORCL) Analysis

    ORCL is now the most-bought S&P 500 stock of gurus as shown on GuruFocus.com. From the latest guru trades of the second quarter in 2013, we can see Donald Yacktman bought it as new position, Charles de Vaulx, Meryl Witmer, Steven Romick, Glenn Greenberg and so on also added more shares to their portfolio. These trades make me wonder, is it a good buy or not?

    Business Description  


  • Looking For a Few Good Businesses

    “We are looking for good businesses where the fortunes of those businesses don’t turn on slight changes in GNP statistics, where there is substantial free cash generated and put into the hands of extremely capable managements which will not go out and spend that money foolishly by over-expanding plant capacity, or paying too much for an acquisition to get into somebody else’s difficult business. We look for people who have a vision of building something, building their business into a great company.”

    - Glenn Greenberg  


  • Latest Picks from Hedge Fund Manager Glenn Greenberg: ORCL, VRX, GOOG, ADBE, VPRT, FISV, MSI, ONE, PRI

    Hedge fund manager Glenn Greenberg is very confident in his stock picking. That is why he puts billions of dollars into only 12 stocks. He started out in hedge fund Chieftain Capital Management. Then he went on his own with Brave Warrior Capital. As of 06/30/2012, Brave Warrior Capital owns 12 stocks with a total value of $1.4 billion. Greenberg was an English major in college and never contemplated going into investing. He ended up going to Columbia business school with no real career objective. He went to work for J.P. Morgan after b-school. A light bulb went off for Greenberg when he was asked to analyze a company that owned land with redwoods growing on it. He made some enquiries and discovered that the land was worth three times the price at which the company was trading. That shaped his thinking because he learned that there are situations out there where you don’t need to be a genius to figure them out.

    Glenn Greenberg maintains a highly concentrated portfolio that he describes as a "defense against ignorance." He believes that the more companies you own, the less you will know about each, and the less you know about a business, the more likely you are to make mistakes due to fear and greed. He usually owns less than 10 stocks. Greenberg invests in companies with little competition, and places a great deal of emphasis on Return On Invested Capital.  


  • What to Expect from U.S. Bancorp

    Years ago, Warren Buffett said at the annual shareholders meeting that what he and Charlie try to do is figure out what a company’s Value Line sheet will look like in ten years. Of course, this can only be done in stable businesses with a good long-term record of performance. It is in that spirit that I made a 5-year projection for U.S. Bancorp (NYSE:USB) a la Value Line.

    U.S. Bancorp is a well run bank with an outstanding long-term record of performance. It is focused on core banking functions - consumer and business banking, wealth management, wholesale banking, trust services and payments – and has minimal exposure to investment banking and other challenges larger banks are facing with capital markets.  


Add Notes, Comments

If you want to ask a question or report a bug, please create a support ticket.


Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)