Focused deep value investor Glenn Greenberg just reported his Q2 portfolio. These are his buys and sells.
Mr. Greenberg broke with his partners at Chieftain Management, and set up his own firm Brave Warrior Capital, Inc. Now the buys and sells are from his own ideas only. Mr. Greenberg runs a very concentrated portfolio. He does not like growth, but he likes to have good cashflow from the companies. Now he is buying both credit card companies: Mastercard Inc., Visa Inc.
Glenn Greenberg buys Fiserv Inc., Mastercard Inc., Broadridge Financial Solutions Inc., Visa Inc., Star Gas Partners L.p., Nicholas Financial Inc., Freddie Mac, sells Precision Castparts Corp., Renaissancere Holdings Ltd., Varian Medical Systems Inc. during the 3-months ended 06/30/2010, according to the most recent filings of his investment company, Brave Warrior Capital, Inc.. Glenn Greenberg owns 20 stocks with a total value of $953 million. These are the details of the buys and sells.
This is the sector weightings of his portfolio:
These are the top 5 holdings of Glenn Greenberg
Google is a public and profitable company focused on search services. Google Inc. has a market cap of $154.65 billion; its shares were traded at around $486.35 with a P/E ratio of 21.12 and P/S ratio of 6.54. Google Inc. had an annual average earning growth of 65.7% over the past 10 years.
Arch Capital Group Ltd. is a diversified financial services holding company, with an emphasis on the insurance sector. Arch Capital Group Ltd. has a market cap of $3.83 billion; its shares were traded at around $77.07 with a P/E ratio of 8.13 and P/S ratio of 1.09. Arch Capital Group Ltd. had an annual average earning growth of 26.1% over the past 10 years.
Crosstex Energy, a mid-stream natural gas company, operates over 1,700 miles of pipeline, two processing plants, and 49 natural gas treating plants. Crosstex Energy L.p. Ltd. Partnership In has a market cap of $608.93 million; its shares were traded at around $12.24 with and P/S ratio of 0.42.
Fiserv, Inc., a Fortune five hundred company, provides information management systems and services to the financial and insurance industries. Fiserv Inc. has a market cap of $7.51 billion; its shares were traded at around $49.19 with a P/E ratio of 12.91 and P/S ratio of 1.84. Fiserv Inc. had an annual average earning growth of 10.8% over the past 10 years. GuruFocus rated Fiserv Inc. the business predictability rank of 3-star.
MASTERCARD INCORPORATED advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. Mastercard Inc. has a market cap of $27.34 billion; its shares were traded at around $211.83 with a P/E ratio of 16.38 and P/S ratio of 5.36. The dividend yield of Mastercard Inc. stocks is 0.28%.
Broadridge is a global provider of technology-based outsourcing solutions to the financial services industry. Broadridge Financial Solutions Inc. has a market cap of $2.75 billion; its shares were traded at around $19.74 with a P/E ratio of 12.46 and P/S ratio of 1.24. The dividend yield of Broadridge Financial Solutions Inc. stocks is 2.77%.
VISA operates the world's largest retail electronic payments network and is one of the most recognized global financial services brands. Visa Inc. has a market cap of $60.65 billion; its shares were traded at around $72.98 with a P/E ratio of 19.73 and P/S ratio of 8.78. The dividend yield of Visa Inc. stocks is 0.69%.
Star Gas Partners, L.P., is a publicly traded limited partnership. Star Gas Partners L.p. has a market cap of $314.01 million; its shares were traded at around $4.4 with a P/E ratio of 22.05 and P/S ratio of 0.26. The dividend yield of Star Gas Partners L.p. stocks is 6.58%. Star Gas Partners L.p. had an annual average earning growth of 18.1% over the past 5 years.
Nicholas Financial provides specialty consumer finance products through its 31 branch offices located throughout the eastern United States. Nicholas Financial Inc. has a market cap of $100.51 million; its shares were traded at around $8.56 with a P/E ratio of 8.24 and P/S ratio of 1.78. Nicholas Financial Inc. had an annual average earning growth of 4.7% over the past 10 years.
Crosstex Energy Inc. owns and controls the general partner of Crosstex Energy, L. Crosstex Energy Inc. has a market cap of $339.53 million; its shares were traded at around $7.29 with and P/S ratio of 0.23. Crosstex Energy Inc. had an annual average earning growth of 18.4% over the past 5 years.
Dell Inc. is a premier provider of products and services required for customers worldwide to build their information-technology and Internet infrastructures. Dell Inc. has a market cap of $23.52 billion; its shares were traded at around $12.01 with a P/E ratio of 11.44 and P/S ratio of 0.44. Dell Inc. had an annual average earning growth of 4.1% over the past 10 years.
RENAISSANCERE Holdings Ltd. provides reinsurance and insurance coverage where the risk of natural catastrophe represents a significant component of the overall exposure. Renaissancere Holdings Ltd. has a market cap of $3.23 billion; its shares were traded at around $55.81 with a P/E ratio of 5.09 and P/S ratio of 1.94. The dividend yield of Renaissancere Holdings Ltd. stocks is 1.79%.
Precision Castparts Corp. is a worldwide manufacturer of complex metal components and products. Precision Castparts Corp. has a market cap of $16.76 billion; its shares were traded at around $117.15 with a P/E ratio of 18.25 and P/S ratio of 3.06. The dividend yield of Precision Castparts Corp. stocks is 0.1%. Precision Castparts Corp. had an annual average earning growth of 19.9% over the past 10 years.
Varian Medical Systems, Inc., of Palo Alto, California is the world's supplier of equipment and software for treating cancer. Varian Medical Systems Inc. has a market cap of $6.84 billion; its shares were traded at around $55.56 with a P/E ratio of 19.21 and P/S ratio of 3.09. Varian Medical Systems Inc. had an annual average earning growth of 20.9% over the past 10 years. GuruFocus rated Varian Medical Systems Inc. the business predictability rank of 4.5-star.
Mr. Greenberg broke with his partners at Chieftain Management, and set up his own firm Brave Warrior Capital, Inc. Now the buys and sells are from his own ideas only. Mr. Greenberg runs a very concentrated portfolio. He does not like growth, but he likes to have good cashflow from the companies. Now he is buying both credit card companies: Mastercard Inc., Visa Inc.
Glenn Greenberg buys Fiserv Inc., Mastercard Inc., Broadridge Financial Solutions Inc., Visa Inc., Star Gas Partners L.p., Nicholas Financial Inc., Freddie Mac, sells Precision Castparts Corp., Renaissancere Holdings Ltd., Varian Medical Systems Inc. during the 3-months ended 06/30/2010, according to the most recent filings of his investment company, Brave Warrior Capital, Inc.. Glenn Greenberg owns 20 stocks with a total value of $953 million. These are the details of the buys and sells.
- New Purchases: BR, FISV, MA, NICK, SGU, V,
- Added Positions: ACGL, GOOG, XTEX,
- Reduced Positions: DELL, XTXI,
- Sold Out: PCP, RNR, VAR,
This is the sector weightings of his portfolio:
| Consumer Services | 26.1% |
| Financials | 25.3% |
| Industrials | 20.2% |
| Technology | 13.8% |
| Health Care | 12.1% |
| Oil & Gas | 2.4% |
| Utilities | 0.1% |
These are the top 5 holdings of Glenn Greenberg
- Ryanair Holdings Plc (RYAAY) - 4,632,461 shares, 13.17% of the total portfolio. Shares reduced by 1.74%
- Comcast Corp. Special (CMCSK) - 7,497,308 shares, 12.92% of the total portfolio. Shares reduced by 7.64%
- Laboratory Corp. Of America Holdings (LH) - 1,532,353 shares, 12.11% of the total portfolio. Shares reduced by 1.25%
- U.S. Bancorp (USB) - 5,125,634 shares, 12.02% of the total portfolio. Shares reduced by 0.95%
- Google Inc. (GOOG) - 251,973 shares, 11.76% of the total portfolio. Shares added by 87.53%
Added: Google Inc. (GOOG, Financial)
Glenn Greenberg added to his holdings in Google Inc. by 87.53%. His purchase prices were between $454.26 and $595.3, with an estimated average price of $512.61. The impact to his portfolio due to this purchase was 5.49%. His holdings were 251,973 shares as of 06/30/2010.Google is a public and profitable company focused on search services. Google Inc. has a market cap of $154.65 billion; its shares were traded at around $486.35 with a P/E ratio of 21.12 and P/S ratio of 6.54. Google Inc. had an annual average earning growth of 65.7% over the past 10 years.
Added: Arch Capital Group Ltd. (ACGL, Financial)
Glenn Greenberg added to his holdings in Arch Capital Group Ltd. by 67.96%. His purchase prices were between $71.36 and $77.93, with an estimated average price of $74.78. The impact to his portfolio due to this purchase was 2.31%. His holdings were 731,218 shares as of 06/30/2010.Arch Capital Group Ltd. is a diversified financial services holding company, with an emphasis on the insurance sector. Arch Capital Group Ltd. has a market cap of $3.83 billion; its shares were traded at around $77.07 with a P/E ratio of 8.13 and P/S ratio of 1.09. Arch Capital Group Ltd. had an annual average earning growth of 26.1% over the past 10 years.
Added: Crosstex Energy L.p. Ltd. Partnership In (XTEX, Financial)
Glenn Greenberg added to his holdings in Crosstex Energy L.p. Ltd. Partnership In by 29.58%. His purchase prices were between $8.73 and $11.99, with an estimated average price of $10.54. The impact to his portfolio due to this purchase was 0.52%. His holdings were 2,053,533 shares as of 06/30/2010.Crosstex Energy, a mid-stream natural gas company, operates over 1,700 miles of pipeline, two processing plants, and 49 natural gas treating plants. Crosstex Energy L.p. Ltd. Partnership In has a market cap of $608.93 million; its shares were traded at around $12.24 with and P/S ratio of 0.42.
New Purchase: Fiserv Inc. (FISV, Financial)
Glenn Greenberg initiated holdings in Fiserv Inc.. His purchase prices were between $45.33 and $54.69, with an estimated average price of $49.82. The impact to his portfolio due to this purchase was 5.17%. His holdings were 1,078,982 shares as of 06/30/2010.Fiserv, Inc., a Fortune five hundred company, provides information management systems and services to the financial and insurance industries. Fiserv Inc. has a market cap of $7.51 billion; its shares were traded at around $49.19 with a P/E ratio of 12.91 and P/S ratio of 1.84. Fiserv Inc. had an annual average earning growth of 10.8% over the past 10 years. GuruFocus rated Fiserv Inc. the business predictability rank of 3-star.
New Purchase: Mastercard Inc. (MA, Financial)
Glenn Greenberg initiated holdings in Mastercard Inc.. His purchase prices were between $195.46 and $267.22, with an estimated average price of $228.26. The impact to his portfolio due to this purchase was 4.84%. His holdings were 231,205 shares as of 06/30/2010.MASTERCARD INCORPORATED advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. Mastercard Inc. has a market cap of $27.34 billion; its shares were traded at around $211.83 with a P/E ratio of 16.38 and P/S ratio of 5.36. The dividend yield of Mastercard Inc. stocks is 0.28%.
New Purchase: Broadridge Financial Solutions Inc. (BR, Financial)
Glenn Greenberg initiated holdings in Broadridge Financial Solutions Inc.. His purchase prices were between $18.63 and $24, with an estimated average price of $21. The impact to his portfolio due to this purchase was 4.72%. His holdings were 2,361,277 shares as of 06/30/2010.Broadridge is a global provider of technology-based outsourcing solutions to the financial services industry. Broadridge Financial Solutions Inc. has a market cap of $2.75 billion; its shares were traded at around $19.74 with a P/E ratio of 12.46 and P/S ratio of 1.24. The dividend yield of Broadridge Financial Solutions Inc. stocks is 2.77%.
New Purchase: Visa Inc. (V, Financial)
Glenn Greenberg initiated holdings in Visa Inc.. His purchase prices were between $70.09 and $96.59, with an estimated average price of $82.37. The impact to his portfolio due to this purchase was 2.66%. His holdings were 358,840 shares as of 06/30/2010.VISA operates the world's largest retail electronic payments network and is one of the most recognized global financial services brands. Visa Inc. has a market cap of $60.65 billion; its shares were traded at around $72.98 with a P/E ratio of 19.73 and P/S ratio of 8.78. The dividend yield of Visa Inc. stocks is 0.69%.
New Purchase: Star Gas Partners L.p. (SGU, Financial)
Glenn Greenberg initiated holdings in Star Gas Partners L.p.. His purchase prices were between $4.25 and $4.46, with an estimated average price of $4.33. The impact to his portfolio due to this purchase was 0.07%. His holdings were 153,970 shares as of 06/30/2010.Star Gas Partners, L.P., is a publicly traded limited partnership. Star Gas Partners L.p. has a market cap of $314.01 million; its shares were traded at around $4.4 with a P/E ratio of 22.05 and P/S ratio of 0.26. The dividend yield of Star Gas Partners L.p. stocks is 6.58%. Star Gas Partners L.p. had an annual average earning growth of 18.1% over the past 5 years.
New Purchase: Nicholas Financial Inc. (NICK, Financial)
Glenn Greenberg initiated holdings in Nicholas Financial Inc.. His purchase prices were between $7.51 and $9.05, with an estimated average price of $8.43. The impact to his portfolio due to this purchase was 0.03%. His holdings were 29,177 shares as of 06/30/2010.Nicholas Financial provides specialty consumer finance products through its 31 branch offices located throughout the eastern United States. Nicholas Financial Inc. has a market cap of $100.51 million; its shares were traded at around $8.56 with a P/E ratio of 8.24 and P/S ratio of 1.78. Nicholas Financial Inc. had an annual average earning growth of 4.7% over the past 10 years.
Reduced: Crosstex Energy Inc. (XTXI, Financial)
Glenn Greenberg reduced to his holdings in Crosstex Energy Inc. by 96.38%. His sale prices were between $6.02 and $9.65, with an estimated average price of $7.69. The impact to his portfolio due to this sale was -0.02%. Glenn Greenberg still held 37,125 shares as of 06/30/2010.Crosstex Energy Inc. owns and controls the general partner of Crosstex Energy, L. Crosstex Energy Inc. has a market cap of $339.53 million; its shares were traded at around $7.29 with and P/S ratio of 0.23. Crosstex Energy Inc. had an annual average earning growth of 18.4% over the past 5 years.
Reduced: Dell Inc. (DELL, Financial)
Glenn Greenberg reduced to his holdings in Dell Inc. by 57.92%. His sale prices were between $12.27 and $17.5, with an estimated average price of $14.79. The impact to his portfolio due to this sale was -1.18%. Glenn Greenberg still held 1,604,198 shares as of 06/30/2010.Dell Inc. is a premier provider of products and services required for customers worldwide to build their information-technology and Internet infrastructures. Dell Inc. has a market cap of $23.52 billion; its shares were traded at around $12.01 with a P/E ratio of 11.44 and P/S ratio of 0.44. Dell Inc. had an annual average earning growth of 4.1% over the past 10 years.
Sold Out: Renaissancere Holdings Ltd. (RNR)
Glenn Greenberg sold out his holdings in Renaissancere Holdings Ltd.. His sale prices were between $52.93 and $58.81, with an estimated average price of $56.22.RENAISSANCERE Holdings Ltd. provides reinsurance and insurance coverage where the risk of natural catastrophe represents a significant component of the overall exposure. Renaissancere Holdings Ltd. has a market cap of $3.23 billion; its shares were traded at around $55.81 with a P/E ratio of 5.09 and P/S ratio of 1.94. The dividend yield of Renaissancere Holdings Ltd. stocks is 1.79%.
Sold Out: Precision Castparts Corp. (PCP)
Glenn Greenberg sold out his holdings in Precision Castparts Corp.. His sale prices were between $102.75 and $134.49, with an estimated average price of $119.46.Precision Castparts Corp. is a worldwide manufacturer of complex metal components and products. Precision Castparts Corp. has a market cap of $16.76 billion; its shares were traded at around $117.15 with a P/E ratio of 18.25 and P/S ratio of 3.06. The dividend yield of Precision Castparts Corp. stocks is 0.1%. Precision Castparts Corp. had an annual average earning growth of 19.9% over the past 10 years.
Sold Out: Varian Medical Systems Inc. (VAR)
Glenn Greenberg sold out his holdings in Varian Medical Systems Inc.. His sale prices were between $48.52 and $57.46, with an estimated average price of $53.14.Varian Medical Systems, Inc., of Palo Alto, California is the world's supplier of equipment and software for treating cancer. Varian Medical Systems Inc. has a market cap of $6.84 billion; its shares were traded at around $55.56 with a P/E ratio of 19.21 and P/S ratio of 3.09. Varian Medical Systems Inc. had an annual average earning growth of 20.9% over the past 10 years. GuruFocus rated Varian Medical Systems Inc. the business predictability rank of 4.5-star.
