GREENHAVEN ASSOCIATES INC Profile
Greenhaven Associates is a hedge fund sponsor based out of New York. The company was established in 1988 by Edgar Wacheheim, who is still with the company today acting as its Chairman and CEO. Greenhaven Associates was officially established when the founder Edgar Wacheheim decided to buy Greenhaven Associates from the Gottesman family in 1998. The company has maintained a small scaled operations throughout its history, although its total assets under management now reach into the billions. Greenhaven Associates currently has 6 employees with half of them being investment professionals. Through its operation of long term focused investment philosophy and highly concentrated portfolios, the company is able to operate with only so few employees. Greenhaven Associates invests most heavily in the finance sector, which alone makes up almost a third of its total asset allocations, and the firm also invests in the transports and consumer discretionary sectors, each making up approximately another quarter of its total asset allocations each, and the industrials sector, which makes up just under a fifth of its total asset allocations, among other sectors to a lesser degree. The company’s top holdings in FedEx Corporation, Lowes Companies, Inc., Goldman Sachs Group, and JPMorgan Chase & Co. each make up over 10% of its total holdings and its top 10 holdings alone make up almost 90% of its total. Greenhaven Associates currently holds over $5.7 billion in total assets under management spread across almost 200 accounts, all of which are discretionary accounts. Although its total number of accounts has only been increasing moderately in recent years, its total assets under management has grown significantly, rising from $2.1 billion back in 2010 to approaching three times that amount today. Greenhaven Associates mainly caters to high net worth individuals, which alone makes up over half of its client base, and also provides services to charities, pension and profit sharing plans, investment companies, and others, in order of decreasing clientele.