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GMO Buys Unitedhealth, Altria, Microsoft, Sells Chevron, America Movil, Teck Cominco

gurufocus

337 followers
Jeremy Grantham at GMO thinks that QEII will drive the market from the current overvalued level to even worse. This is the Q3 portfolio update of GMO.

In an extended interview, Jeremy Grantham, chairman of Grantham Mayo Van Otterloo (GMO), talks to Maria Bartiromo about the markets, the economy, and his investment strategy.

He thinks that Fed has great power in stimulate the market in short term. The market is overvalued by at least 20%. QEII will drive the market up, but it is getting more dangerous. Watch this excellent interview:



As of 09/30/2010, GMO LLC owns 848 stocks with a total value of $28 billion. These are the details of the buys and sells that have the impact to portfolio of more than .03%.

For the details of Jeremy Grantham's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Jeremy+Grantham

This is the sector weightings of his portfolio:

Technology 25.8%
Health Care 20.4%
Consumer Goods 18.1%
Consumer Services 10%
Oil & Gas 6.9%
Industrials 5%
Financials 4.9%
Telecommunications 1.7%
Basic Materials 1.2%
Utilities 0.5%


These are the top 5 holdings of Jeremy Grantham

  1. Oracle Corp. (ORCL) - 58,410,492 shares, 5.6% of the total portfolio. Shares reduced by 2.71%
  2. Johnson & Johnson (JNJ) - 23,946,007 shares, 5.3% of the total portfolio. Shares reduced by 1.46%
  3. Microsoft Corp. (MSFT) - 60,351,726 shares, 5.28% of the total portfolio. Shares added by 6.55%
  4. Pfizer Inc (PFE) - 73,262,766 shares, 4.5% of the total portfolio. Shares reduced by 5.37%
  5. WalMart Stores Inc. (WMT) - 23,366,303 shares, 4.47% of the total portfolio. Shares reduced by 1.01%


Added: Unitedhealth Group Inc. (UNH)

Jeremy Grantham added to his holdings in Unitedhealth Group Inc. by 83.78%. His purchase prices were between $28.3 and $35.73, with an estimated average price of $32.34. The impact to his portfolio due to this purchase was 0.6%. His holdings were 10,444,356 shares as of 09/30/2010.

Added: Altria Group Inc. (MO)

Jeremy Grantham added to his holdings in Altria Group Inc. by 97.87%. His purchase prices were between $20.31 and $24.25, with an estimated average price of $22.54. The impact to his portfolio due to this purchase was 0.54%. His holdings were 12,772,573 shares as of 09/30/2010.

Added: Microsoft Corp. (MSFT)

Jeremy Grantham added to his holdings in Microsoft Corp. by 6.55%. His purchase prices were between $23.27 and $26.33, with an estimated average price of $24.82. The impact to his portfolio due to this purchase was 0.32%. His holdings were 60,351,726 shares as of 09/30/2010.

Added: Philip Morris International Inc (PM)

Jeremy Grantham added to his holdings in Philip Morris International Inc by 23.09%. His purchase prices were between $46.45 and $56.32, with an estimated average price of $52.16. The impact to his portfolio due to this purchase was 0.28%. His holdings were 7,529,053 shares as of 09/30/2010.

Added: Apple Inc. (AAPL)

Jeremy Grantham added to his holdings in Apple Inc. by 9.63%. His purchase prices were between $239.93 and $292.32, with an estimated average price of $259.7. The impact to his portfolio due to this purchase was 0.27%. His holdings were 2,998,728 shares as of 09/30/2010.

Added: Google Inc. (GOOG)

Jeremy Grantham added to his holdings in Google Inc. by 6.09%. His purchase prices were between $436.07 and $530.41, with an estimated average price of $482.21. The impact to his portfolio due to this purchase was 0.2%. His holdings were 1,897,571 shares as of 09/30/2010.

Added: Infosys Technologies Ltd. (INFY)

Jeremy Grantham added to his holdings in Infosys Technologies Ltd. by 178.15%. His purchase prices were between $57.28 and $67.24, with an estimated average price of $61.34. The impact to his portfolio due to this purchase was 0.15%. His holdings were 991,950 shares as of 09/30/2010.

Added: Encana Corp. (ECA)

Jeremy Grantham added to his holdings in Encana Corp. by 68.15%. His purchase prices were between $26.5 and $33.28, with an estimated average price of $29.71. The impact to his portfolio due to this purchase was 0.14%. His holdings were 3,340,767 shares as of 09/30/2010.

Added: Mcdonald's Corp. (MCD)

Jeremy Grantham added to his holdings in Mcdonald's Corp. by 14.8%. His purchase prices were between $66.11 and $76.08, with an estimated average price of $72.3. The impact to his portfolio due to this purchase was 0.13%. His holdings were 3,643,000 shares as of 09/30/2010.

Added: Telefonos De Mexico S.a. De C.v. (TMX)

Jeremy Grantham added to his holdings in Telefonos De Mexico S.a. De C.v. by 5929.62%. His purchase prices were between $13.91 and $15.38, with an estimated average price of $14.57. The impact to his portfolio due to this purchase was 0.1%. His holdings were 1,860,740 shares as of 09/30/2010.

Added: Reynolds American Inc. (RAI)

Jeremy Grantham added to his holdings in Reynolds American Inc. by 263.53%. His purchase prices were between $26.22 and $29.96, with an estimated average price of $28.46. The impact to his portfolio due to this purchase was 0.09%. His holdings were 543,657 shares as of 09/30/2010.

Added: Lorillard, Inc (LO)

Jeremy Grantham added to his holdings in Lorillard, Inc by 80.49%. His purchase prices were between $71.91 and $82.89, with an estimated average price of $77.2. The impact to his portfolio due to this purchase was 0.08%. His holdings were 667,072 shares as of 09/30/2010.

Added: B C E Inc (BCE)

Jeremy Grantham added to his holdings in B C E Inc by 230.99%. His purchase prices were between $29.05 and $32.94, with an estimated average price of $31.21. The impact to his portfolio due to this purchase was 0.07%. His holdings were 855,969 shares as of 09/30/2010.

Added: Sk Telecom Co. Ltd. (SKM)

Jeremy Grantham added to his holdings in Sk Telecom Co. Ltd. by 349.36%. His purchase prices were between $14.98 and $17.48, with an estimated average price of $16.29. The impact to his portfolio due to this purchase was 0.07%. His holdings were 1,520,442 shares as of 09/30/2010.

Added: Canadian National Railway Company Fully (CNI)

Jeremy Grantham added to his holdings in Canadian National Railway Company Fully by 98.43%. His purchase prices were between $56.73 and $65.71, with an estimated average price of $62.01. The impact to his portfolio due to this purchase was 0.07%. His holdings were 607,600 shares as of 09/30/2010.

Added: Hansen Natural Corp. (HANS)

Jeremy Grantham added to his holdings in Hansen Natural Corp. by 177.04%. His purchase prices were between $40.12 and $47.55, with an estimated average price of $44.25. The impact to his portfolio due to this purchase was 0.06%. His holdings were 608,155 shares as of 09/30/2010.

Added: Comcast Corp. (CMCSA)

Jeremy Grantham added to his holdings in Comcast Corp. by 255.22%. His purchase prices were between $17 and $19.56, with an estimated average price of $18.26. The impact to his portfolio due to this purchase was 0.06%. His holdings were 1,296,900 shares as of 09/30/2010.

Added: Accenture Ltd (ACN)

Jeremy Grantham added to his holdings in Accenture Ltd by 59.33%. His purchase prices were between $36.6 and $42.43, with an estimated average price of $39.48. The impact to his portfolio due to this purchase was 0.06%. His holdings were 1,125,708 shares as of 09/30/2010.

Added: Enersis S.a. (ENI)

Jeremy Grantham added to his holdings in Enersis S.a. by 85.25%. His purchase prices were between $20.04 and $24.05, with an estimated average price of $21.95. The impact to his portfolio due to this purchase was 0.05%. His holdings were 1,332,550 shares as of 09/30/2010.

Added: Brownforman Corp. (BF.B)

Jeremy Grantham added to his holdings in Brownforman Corp. by 89.28%. His purchase prices were between $57.91 and $64.75, with an estimated average price of $61.36. The impact to his portfolio due to this purchase was 0.05%. His holdings were 471,595 shares as of 09/30/2010.

Added: The Walt Disney Company Disney (DIS)

Jeremy Grantham added to his holdings in The Walt Disney Company Disney by 39.62%. His purchase prices were between $31.38 and $35.29, with an estimated average price of $33.7. The impact to his portfolio due to this purchase was 0.05%. His holdings were 1,360,600 shares as of 09/30/2010.

Added: Companhia Brasileira De Distribuicao (CBD)

Jeremy Grantham added to his holdings in Companhia Brasileira De Distribuicao by 319.29%. His purchase prices were between $32 and $37.05, with an estimated average price of $34.58. The impact to his portfolio due to this purchase was 0.05%. His holdings were 263,400 shares as of 09/30/2010.

Added: Tele Norte Leste Participaes S.a. (TNE)

Jeremy Grantham added to his holdings in Tele Norte Leste Participaes S.a. by 88.88%. His purchase prices were between $13.23 and $17.27, with an estimated average price of $14.6. The impact to his portfolio due to this purchase was 0.05%. His holdings were 1,929,940 shares as of 09/30/2010.

Added: Intel Corp. (INTC)

Jeremy Grantham added to his holdings in Intel Corp. by 88.34%. His purchase prices were between $17.665 and $21.78, with an estimated average price of $19.67. The impact to his portfolio due to this purchase was 0.04%. His holdings were 1,098,428 shares as of 09/30/2010.

Added: Banco Santanderchile (SAN)

Jeremy Grantham added to his holdings in Banco Santanderchile by 379.62%. His purchase prices were between $68.6 and $99.44, with an estimated average price of $85.42. The impact to his portfolio due to this purchase was 0.04%. His holdings were 157,170 shares as of 09/30/2010.

Added: Las Vegas Sands Corp. (LVS)

Jeremy Grantham added to his holdings in Las Vegas Sands Corp. by 2025.8%. His purchase prices were between $21.59 and $35.59, with an estimated average price of $28.41. The impact to his portfolio due to this purchase was 0.04%. His holdings were 309,772 shares as of 09/30/2010.

Added: Union Pacific Corp. (UNP)

Jeremy Grantham added to his holdings in Union Pacific Corp. by 941.78%. His purchase prices were between $67.43 and $82.3, with an estimated average price of $75.38. The impact to his portfolio due to this purchase was 0.04%. His holdings were 132,410 shares as of 09/30/2010.

Added: United Parcel Service, Inc. (UPS)

Jeremy Grantham added to his holdings in United Parcel Service, Inc. by 607.35%. His purchase prices were between $56.76 and $67.76, with an estimated average price of $64.7. The impact to his portfolio due to this purchase was 0.04%. His holdings were 226,641 shares as of 09/30/2010.

Added: Norfolk Southern Corp. (NSC)

Jeremy Grantham added to his holdings in Norfolk Southern Corp. by 494.56%. His purchase prices were between $50.5 and $59.88, with an estimated average price of $56.05. The impact to his portfolio due to this purchase was 0.04%. His holdings were 229,500 shares as of 09/30/2010.

Added: Cemex S.a.b. De C.v. (CX)

Jeremy Grantham added to his holdings in Cemex S.a.b. De C.v. by 52.16%. His purchase prices were between $7.65 and $9.95, with an estimated average price of $8.91. The impact to his portfolio due to this purchase was 0.04%. His holdings were 3,860,310 shares as of 09/30/2010.

Added: Danaher Corp. (DHR)

Jeremy Grantham added to his holdings in Danaher Corp. by 142.12%. His purchase prices were between $35.74 and $41.45, with an estimated average price of $38.42. The impact to his portfolio due to this purchase was 0.04%. His holdings were 454,362 shares as of 09/30/2010.

New Purchase: Barrick Gold Corp. (ABX)

Jeremy Grantham initiated holdings in Barrick Gold Corp.. His purchase prices were between $40.03 and $47.22, with an estimated average price of $44. The impact to his portfolio due to this purchase was 0.09%. His holdings were 539,848 shares as of 09/30/2010.

New Purchase: Ishares Msci Eafe Index Fund (EFA)

Jeremy Grantham initiated holdings in Ishares Msci Eafe Index Fund. His purchase prices were between $47.09 and $55.42, with an estimated average price of $51.88. The impact to his portfolio due to this purchase was 0.04%. His holdings were 210,120 shares as of 09/30/2010.

Reduced: Chevron Corp. (CVX)

Jeremy Grantham reduced to his holdings in Chevron Corp. by 34.59%. His sale prices were between $67.31 and $81.28, with an estimated average price of $76.02. The impact to his portfolio due to this sale was -0.79%. Jeremy Grantham still held 5,149,561 shares as of 09/30/2010.

Reduced: America Movil S.a.b. De C.v. (AMX)

Jeremy Grantham reduced to his holdings in America Movil S.a.b. De C.v. by 59.46%. His sale prices were between $46.18 and $53.2, with an estimated average price of $49.77. The impact to his portfolio due to this sale was -0.43%. Jeremy Grantham still held 1,520,580 shares as of 09/30/2010.

Reduced: Teck Cominco Ltd. (TCK)

Jeremy Grantham reduced to his holdings in Teck Cominco Ltd. by 54.22%. His sale prices were between $29.55 and $40.56, with an estimated average price of $35.18. The impact to his portfolio due to this sale was -0.23%. Jeremy Grantham still held 1,352,000 shares as of 09/30/2010.

Reduced: At&t Inc. (T)

Jeremy Grantham reduced to his holdings in At&t Inc. by 55.35%. His sale prices were between $24.29 and $28.92, with an estimated average price of $26.67. The impact to his portfolio due to this sale was -0.2%. Jeremy Grantham still held 1,578,514 shares as of 09/30/2010.

Reduced: Cvs Caremark Corp. (CVS)

Jeremy Grantham reduced to his holdings in Cvs Caremark Corp. by 58%. His sale prices were between $26.98 and $31.54, with an estimated average price of $29.55. The impact to his portfolio due to this sale was -0.18%. Jeremy Grantham still held 1,132,288 shares as of 09/30/2010.

Reduced: Goldman Sachs Group Inc. The (GS)

Jeremy Grantham reduced to his holdings in Goldman Sachs Group Inc. The by 87.41%. His sale prices were between $131.08 and $156.41, with an estimated average price of $146.49. The impact to his portfolio due to this sale was -0.14%. Jeremy Grantham still held 33,640 shares as of 09/30/2010.

Reduced: Companhia Vale Do Rio Doce (VALE)

Jeremy Grantham reduced to his holdings in Companhia Vale Do Rio Doce by 70.54%. His sale prices were between $24.34 and $30.86, with an estimated average price of $27.59. The impact to his portfolio due to this sale was -0.14%. Jeremy Grantham still held 537,550 shares as of 09/30/2010.

Reduced: Amazon.com Inc. (AMZN)

Jeremy Grantham reduced to his holdings in Amazon.com Inc. by 92.8%. His sale prices were between $109.14 and $160.73, with an estimated average price of $130.34. The impact to his portfolio due to this sale was -0.13%. Jeremy Grantham still held 10,559 shares as of 09/30/2010.

Reduced: Itau Unibanco Banco Multiplo S.a. (ITUB)

Jeremy Grantham reduced to his holdings in Itau Unibanco Banco Multiplo S.a. by 27.17%. His sale prices were between $19.2 and $23.55, with an estimated average price of $21.69. The impact to his portfolio due to this sale was -0.13%. Jeremy Grantham still held 4,126,633 shares as of 09/30/2010.

Reduced: Ebay Inc. (EBAY)

Jeremy Grantham reduced to his holdings in Ebay Inc. by 25.38%. His sale prices were between $19.26 and $24.99, with an estimated average price of $22.37. The impact to his portfolio due to this sale was -0.13%. Jeremy Grantham still held 4,406,382 shares as of 09/30/2010.

Reduced: Royal Bank Of Canada (RY)

Jeremy Grantham reduced to his holdings in Royal Bank Of Canada by 79.8%. His sale prices were between $46.34 and $53.25, with an estimated average price of $50.85. The impact to his portfolio due to this sale was -0.12%. Jeremy Grantham still held 155,200 shares as of 09/30/2010.

Reduced: Bank Of America Corp. (BAC)

Jeremy Grantham reduced to his holdings in Bank Of America Corp. by 57.95%. His sale prices were between $12.32 and $15.67, with an estimated average price of $13.68. The impact to his portfolio due to this sale was -0.11%. Jeremy Grantham still held 1,639,287 shares as of 09/30/2010.

Reduced: Lockheed Martin Corp. (LMT)

Jeremy Grantham reduced to his holdings in Lockheed Martin Corp. by 90.81%. His sale prices were between $68.48 and $76.15, with an estimated average price of $72.81. The impact to his portfolio due to this sale was -0.1%. Jeremy Grantham still held 44,687 shares as of 09/30/2010.

Reduced: Alcon Inc. (ACL)

Jeremy Grantham reduced to his holdings in Alcon Inc. by 65.57%. His sale prices were between $148.54 and $168.21, with an estimated average price of $159.5. The impact to his portfolio due to this sale was -0.1%. Jeremy Grantham still held 89,881 shares as of 09/30/2010.

Reduced: Freeportmcmoran Copper & Gold Inc. (FCX)

Jeremy Grantham reduced to his holdings in Freeportmcmoran Copper & Gold Inc. by 90.31%. His sale prices were between $58.54 and $87.03, with an estimated average price of $72.96. The impact to his portfolio due to this sale was -0.09%. Jeremy Grantham still held 27,800 shares as of 09/30/2010.

Reduced: Jpmorgan Chase & Co. (JPM)

Jeremy Grantham reduced to his holdings in Jpmorgan Chase & Co. by 90.26%. His sale prices were between $35.63 and $41.64, with an estimated average price of $39.01. The impact to his portfolio due to this sale was -0.09%. Jeremy Grantham still held 50,000 shares as of 09/30/2010.

Reduced: Verizon Communications Inc. (VZ)

Jeremy Grantham reduced to his holdings in Verizon Communications Inc. by 43.95%. His sale prices were between $26.49 and $32.86, with an estimated average price of $29.48. The impact to his portfolio due to this sale was -0.07%. Jeremy Grantham still held 769,514 shares as of 09/30/2010.

Reduced: Halliburton Company (HAL)

Jeremy Grantham reduced to his holdings in Halliburton Company by 86.75%. His sale prices were between $25.74 and $33.4, with an estimated average price of $29.81. The impact to his portfolio due to this sale was -0.07%. Jeremy Grantham still held 44,200 shares as of 09/30/2010.

Reduced: Autozone Inc. (AZO)

Jeremy Grantham reduced to his holdings in Autozone Inc. by 34.47%. His sale prices were between $194.66 and $230.56, with an estimated average price of $211.42. The impact to his portfolio due to this sale was -0.06%. Jeremy Grantham still held 143,608 shares as of 09/30/2010.

Reduced: American Express Company (AXP)

Jeremy Grantham reduced to his holdings in American Express Company by 41.1%. His sale prices were between $39.21 and $45.43, with an estimated average price of $42.14. The impact to his portfolio due to this sale was -0.06%. Jeremy Grantham still held 620,061 shares as of 09/30/2010.

Reduced: Lan Airlines S.a. (LFL)

Jeremy Grantham reduced to his holdings in Lan Airlines S.a. by 75.19%. His sale prices were between $19.04 and $29.51, with an estimated average price of $25.49. The impact to his portfolio due to this sale was -0.06%. Jeremy Grantham still held 202,110 shares as of 09/30/2010.

Reduced: Stryker Corp. (SYK)

Jeremy Grantham reduced to his holdings in Stryker Corp. by 25.9%. His sale prices were between $42.88 and $53.12, with an estimated average price of $47.85. The impact to his portfolio due to this sale was -0.06%. Jeremy Grantham still held 871,553 shares as of 09/30/2010.

Reduced: Companhia De Bebidas Das Amricasambev (ABV)

Jeremy Grantham reduced to his holdings in Companhia De Bebidas Das Amricasambev by 64.37%. His sale prices were between $102.86 and $123.89, with an estimated average price of $110.9. The impact to his portfolio due to this sale was -0.05%. Jeremy Grantham still held 66,830 shares as of 09/30/2010.

Reduced: Franklin Resources Inc. (BEN)

Jeremy Grantham reduced to his holdings in Franklin Resources Inc. by 44.42%. His sale prices were between $84.97 and $108.24, with an estimated average price of $99.47. The impact to his portfolio due to this sale was -0.05%. Jeremy Grantham still held 161,700 shares as of 09/30/2010.

Reduced: The Torontodominion Bank (TD)

Jeremy Grantham reduced to his holdings in The Torontodominion Bank by 70.35%. His sale prices were between $64.27 and $74.11, with an estimated average price of $70.01. The impact to his portfolio due to this sale was -0.05%. Jeremy Grantham still held 89,196 shares as of 09/30/2010.

Reduced: Companhia De Saneamento Bsico Do Estado (SBS)

Jeremy Grantham reduced to his holdings in Companhia De Saneamento Bsico Do Estado by 82.69%. His sale prices were between $37.94 and $43.53, with an estimated average price of $40.44. The impact to his portfolio due to this sale was -0.05%. Jeremy Grantham still held 44,520 shares as of 09/30/2010.

Reduced: The Dow Chemical Company (DOW)

Jeremy Grantham reduced to his holdings in The Dow Chemical Company by 38.52%. His sale prices were between $22.97 and $28.33, with an estimated average price of $25.84. The impact to his portfolio due to this sale was -0.04%. Jeremy Grantham still held 728,672 shares as of 09/30/2010.

Reduced: Southern Copper Corp. (SCCO)

Jeremy Grantham reduced to his holdings in Southern Copper Corp. by 49.99%. His sale prices were between $26.44 and $35.17, with an estimated average price of $31.12. The impact to his portfolio due to this sale was -0.04%. Jeremy Grantham still held 298,000 shares as of 09/30/2010.

Reduced: Rogers Communications Inc. (RCI)

Jeremy Grantham reduced to his holdings in Rogers Communications Inc. by 55.99%. His sale prices were between $32.59 and $38.09, with an estimated average price of $35.61. The impact to his portfolio due to this sale was -0.04%. Jeremy Grantham still held 228,700 shares as of 09/30/2010.

Reduced: Texas Instruments Inc. (TXN)

Jeremy Grantham reduced to his holdings in Texas Instruments Inc. by 81.48%. His sale prices were between $23.02 and $27.06, with an estimated average price of $24.83. The impact to his portfolio due to this sale was -0.04%. Jeremy Grantham still held 126,247 shares as of 09/30/2010.

Reduced: Coach Inc. (COH)

Jeremy Grantham reduced to his holdings in Coach Inc. by 27.41%. His sale prices were between $34.37 and $43.71, with an estimated average price of $38.21. The impact to his portfolio due to this sale was -0.04%. Jeremy Grantham still held 685,184 shares as of 09/30/2010.

Sold Out: Ctrip.com International Ltd. (CTRP)

Jeremy Grantham sold out his holdings in Ctrip.com International Ltd.. His sale prices were between $32.81 and $48.57, with an estimated average price of $40.67.

Sold Out: Companhia Siderurgica Nacional (SID)

Jeremy Grantham sold out his holdings in Companhia Siderurgica Nacional. His sale prices were between $14.59 and $17.64, with an estimated average price of $16.38.

Sold Out: Gran Tierra Energy Inc (GTE)

Jeremy Grantham sold out his holdings in Gran Tierra Energy Inc. His sale prices were between $5.09 and $7.1, with an estimated average price of $6.07.

Sold Out: Asiainfo Holdings Inc. (ASIA)

Jeremy Grantham sold out his holdings in Asiainfo Holdings Inc.. His sale prices were between $15.91 and $26.53, with an estimated average price of $21.05.

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gurufocus
GuruFocus - Stock Picks and Market Insight of Gurus

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