Glenn Greenberg of Brave Warrior Capital, Inc. reported his Q4 portfolio. As of 12/31/2010, Brave Warrior Capital, Inc. owns 11 stocks with a total value of $1.1 billion. These are the details of the buys and sells.
Glenn Greenberg runs a very concentrated portfolio. He was a partner a hedge fund Chieftain Management. Then he split with his partner and started his own firm Brave Warrior Capital.
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.
For more information about Glenn Greenberg, please read the excellent summary by Greg Speicher:
1. Glenn Greenberg at Columbia: How a Great Investor Thinks
2. Glenn Greenberg at Columbia: How a Great Investor Thinks (Part 2)
This is the portfolio chart of Glenn Greenberg. You can click on the legend of the chart to show/hide buys, sells, or holdings. Each ball on the chart represents a position in the portfolio. You can move your mouse on the balls to see the details of each position and click to see the details of all guru trades with this position.
This is the sector weightings of his portfolio:
These are the top 5 holdings of Glenn Greenberg
Added: Fiserv Inc. (FISV, Financial)
Glenn Greenberg added to his holdings in Fiserv Inc. by 24.26%. His purchase prices were between $53.64 and $60.44, with an estimated average price of $56.41. The impact to his portfolio due to this purchase was 2.72%. His holdings were 2,595,220 shares as of 12/31/2010.
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 $9.3 billion; its shares were traded at around $62.5 with a P/E ratio of 15.4 and P/S ratio of 2.2. 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.
Added: Broadridge Financial Solutions Inc (BR, Financial)
Glenn Greenberg added to his holdings in Broadridge Financial Solutions Inc by 57.42%. His purchase prices were between $20.59 and $22.88, with an estimated average price of $21.75. The impact to his portfolio due to this purchase was 2.67%. His holdings were 3,635,346 shares as of 12/31/2010.
Broadridge is a global provider of technology-based outsourcing solutions to the financial services industry. Broadridge Financial Solutions Inc has a market cap of $2.86 billion; its shares were traded at around $22.88 with a P/E ratio of 18.5 and P/S ratio of 1.3. The dividend yield of Broadridge Financial Solutions Inc stocks is 2.6%.
Added: Mastercard Inc. (MA, Financial)
Glenn Greenberg added to his holdings in Mastercard Inc. by 23.38%. His purchase prices were between $217.4 and $259.35, with an estimated average price of $238.18. The impact to his portfolio due to this purchase was 1.63%. His holdings were 418,817 shares as of 12/31/2010.
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 $33.37 billion; its shares were traded at around $254.96 with a P/E ratio of 18.1 and P/S ratio of 6. The dividend yield of Mastercard Inc. stocks is 0.2%.
Added: Arch Capital Group Ltd. (ACGL, Financial)
Glenn Greenberg added to his holdings in Arch Capital Group Ltd. by 15.73%. His purchase prices were between $82.9 and $91.67, with an estimated average price of $87.97. The impact to his portfolio due to this purchase was 0.86%. His holdings were 783,388 shares as of 12/31/2010.
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 $4.46 billion; its shares were traded at around $91.14 with a P/E ratio of 9.6 and P/S ratio of 1.3. Arch Capital Group Ltd. had an annual average earning growth of 26.1% over the past 10 years.
New Purchase: Hewlett Packard Co (HPQ, Financial)
Glenn Greenberg initiated holdings in Hewlett Packard Co. His purchase prices were between $40.64 and $44.25, with an estimated average price of $42.41. The impact to his portfolio due to this purchase was 6.41%. His holdings were 1,661,139 shares as of 12/31/2010.
Hewlett Packard is one of the global providers of computing and imaging solutions and services for business and home. Hewlett Packard Co has a market cap of $105.82 billion; its shares were traded at around $48.31 with a P/E ratio of 10.6 and P/S ratio of 0.8. The dividend yield of Hewlett Packard Co stocks is 0.7%. Hewlett Packard Co had an annual average earning growth of 22.5% over the past 5 years.
Reduced: Google Inc. (GOOG)
Glenn Greenberg reduced to his holdings in Google Inc. by 40.88%. His sale prices were between $522.35 and $626.77, with an estimated average price of $590.4. The impact to his portfolio due to this sale was -6%. Glenn Greenberg still held 159,229 shares as of 12/31/2010.
Google is a public and profitable company focused on search services. Google Inc. has a market cap of $200.87 billion; its shares were traded at around $628.15 with a P/E ratio of 23.9 and P/S ratio of 6.8. Google Inc. had an annual average earning growth of 58.4% over the past 10 years.
Reduced: Lockheed Martin Corp. (LMT)
Glenn Greenberg reduced to his holdings in Lockheed Martin Corp. by 46.69%. His sale prices were between $68.04 and $73.29, with an estimated average price of $70.04. The impact to his portfolio due to this sale was -4.21%. Glenn Greenberg still held 749,488 shares as of 12/31/2010.
Lockheed Martin Corp. is a global enterprise principally engaged in the research, design, development, manufacture and integration of advanced-technology systems, products and services. Lockheed Martin Corp. has a market cap of $29.14 billion; its shares were traded at around $80.92 with a P/E ratio of 11 and P/S ratio of 0.6. The dividend yield of Lockheed Martin Corp. stocks is 3.7%. Lockheed Martin Corp. had an annual average earning growth of 16.6% over the past 10 years. GuruFocus rated Lockheed Martin Corp. the business predictability rank of 4.5-star.
Sold Out: Dell Inc. (DELL, Financial)
Glenn Greenberg sold out his holdings in Dell Inc.. His sale prices were between $12.9 and $14.71, with an estimated average price of $13.89.
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 $27.2 billion; its shares were traded at around $14.09 with a P/E ratio of 10.4 and P/S ratio of 0.5. Dell Inc. had an annual average earning growth of 4.1% over the past 10 years.
Sold Out: Crosstex Energy L.p. Ltd. Partnership Interest (XTEX, Financial)
Glenn Greenberg sold out his holdings in Crosstex Energy L.p. Ltd. Partnership Interest. His sale prices were between $12.82 and $14.39, with an estimated average price of $13.88.
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 Interest has a market cap of $813.8 million; its shares were traded at around $16.21 with and P/S ratio of 0.6. The dividend yield of Crosstex Energy L.p. Ltd. Partnership Interest stocks is 6.4%. Crosstex Energy L.p. Ltd. Partnership Interest had an annual average earning growth of 3.4% over the past 5 years.
Sold Out: Tidewater Inc. (TDW, Financial)
Glenn Greenberg sold out his holdings in Tidewater Inc.. His sale prices were between $43.37 and $53.57, with an estimated average price of $48.32.
Tidewater, Inc. owns and operates one of the world's largest fleets serving the international offshore energy industry. Tidewater Inc. has a market cap of $2.9 billion; its shares were traded at around $56.37 with a P/E ratio of 19.1 and P/S ratio of 2.5. The dividend yield of Tidewater Inc. stocks is 1.8%. Tidewater Inc. had an annual average earning growth of 15% over the past 10 years. GuruFocus rated Tidewater Inc. the business predictability rank of 1-star.
Sold Out: Star Gas Partners L.p. (SGU, Financial)
Glenn Greenberg sold out his holdings in Star Gas Partners L.p.. His sale prices were between $4.83 and $5.65, with an estimated average price of $5.13.
Star Gas Partners, L.P., is a publicly traded limited partnership. Star Gas Partners L.p. has a market cap of $357.9 million; its shares were traded at around $5.31 with a P/E ratio of 10.2 and P/S ratio of 0.3. The dividend yield of Star Gas Partners L.p. stocks is 5.8%. Star Gas Partners L.p. had an annual average earning growth of 80.3% over the past 5 years.
Sold Out: Comcast Corp. (CMCSA, Financial)
Glenn Greenberg sold out his holdings in Comcast Corp.. His sale prices were between $17.66 and $22.25, with an estimated average price of $20.33.
Comcast Corp., among the world's communication companies, provides basic cable, digital cable and high speed internet services that connect people to what's important in their lives. Comcast Corp. has a market cap of $66.6 billion; its shares were traded at around $23.87 with a P/E ratio of 19.1 and P/S ratio of 1.9. The dividend yield of Comcast Corp. stocks is 1.6%. Comcast Corp. had an annual average earning growth of 14.9% over the past 10 years.
Sold Out: Nicholas Financial Inc. (NICK, Financial)
Glenn Greenberg sold out his holdings in Nicholas Financial Inc.. His sale prices were between $9.17 and $10.469, with an estimated average price of $9.97.
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 $145.5 million; its shares were traded at around $12.3399 with a P/E ratio of 9.5 and P/S ratio of 2.6. Nicholas Financial Inc. had an annual average earning growth of 4.7% over the past 10 years.
Sold Out: Bank Of America Corp. (BAC)
Glenn Greenberg sold out his holdings in Bank Of America Corp.. His sale prices were between $10.95 and $13.56, with an estimated average price of $12.2.
Bank of America Corp. is one of the world's financial services companies. Bank Of America Corp. has a market cap of $150.17 billion; its shares were traded at around $14.89 with a P/E ratio of 17.3 and P/S ratio of 1.1. The dividend yield of Bank Of America Corp. stocks is 0.3%.
Sold Out: Approach Resources Inc. (AREX)
Glenn Greenberg sold out his holdings in Approach Resources Inc.. His sale prices were between $11.55 and $23.62, with an estimated average price of $17.75.
Approach Resources Inc. is an independent energy company engaged in the exploration, development, exploitation, production and acquisition of unconventional natural gas and oil properties onshore in the United States and Western Canada. Approach Resources Inc. has a market cap of $789 million; its shares were traded at around $28.92 with a P/E ratio of 103.3 and P/S ratio of 19.4.
Glenn Greenberg runs a very concentrated portfolio. He was a partner a hedge fund Chieftain Management. Then he split with his partner and started his own firm Brave Warrior Capital.
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.
For more information about Glenn Greenberg, please read the excellent summary by Greg Speicher:
1. Glenn Greenberg at Columbia: How a Great Investor Thinks
2. Glenn Greenberg at Columbia: How a Great Investor Thinks (Part 2)
This is the portfolio chart of Glenn Greenberg. You can click on the legend of the chart to show/hide buys, sells, or holdings. Each ball on the chart represents a position in the portfolio. You can move your mouse on the balls to see the details of each position and click to see the details of all guru trades with this position.
- New Purchases: HPQ,
- Added Positions: FISV, BR, MA, ACGL,
- Reduced Positions: GOOG, LMT,
- Sold Out: DELL, XTEX, TDW, SGU, CMCSA, NICK, BAC, AREX,
This is the sector weightings of his portfolio:
These are the top 5 holdings of Glenn Greenberg
- Fiserv Inc. (FISV) - 2,595,220 shares, 13.94% of the total portfolio. Shares added by 24.26%
- Comcast Corp. Special (CMCSK) - 6,847,014 shares, 13.07% of the total portfolio. Shares reduced by 7.26%
- Ryanair Holdings Plc (RYAAY) - 3,790,742 shares, 10.69% of the total portfolio. Shares reduced by 1.68%
- LABORATORY CORP. OF AMER. (LH) - 1,310,563 shares, 10.57% of the total portfolio. Shares reduced by 5.93%
- U.S. BANCORP (USB) - 3,876,191 shares, 9.59% of the total portfolio. Shares reduced by 12.34%
Added: Fiserv Inc. (FISV, Financial)
Glenn Greenberg added to his holdings in Fiserv Inc. by 24.26%. His purchase prices were between $53.64 and $60.44, with an estimated average price of $56.41. The impact to his portfolio due to this purchase was 2.72%. His holdings were 2,595,220 shares as of 12/31/2010.
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 $9.3 billion; its shares were traded at around $62.5 with a P/E ratio of 15.4 and P/S ratio of 2.2. 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.
Added: Broadridge Financial Solutions Inc (BR, Financial)
Glenn Greenberg added to his holdings in Broadridge Financial Solutions Inc by 57.42%. His purchase prices were between $20.59 and $22.88, with an estimated average price of $21.75. The impact to his portfolio due to this purchase was 2.67%. His holdings were 3,635,346 shares as of 12/31/2010.
Broadridge is a global provider of technology-based outsourcing solutions to the financial services industry. Broadridge Financial Solutions Inc has a market cap of $2.86 billion; its shares were traded at around $22.88 with a P/E ratio of 18.5 and P/S ratio of 1.3. The dividend yield of Broadridge Financial Solutions Inc stocks is 2.6%.
Added: Mastercard Inc. (MA, Financial)
Glenn Greenberg added to his holdings in Mastercard Inc. by 23.38%. His purchase prices were between $217.4 and $259.35, with an estimated average price of $238.18. The impact to his portfolio due to this purchase was 1.63%. His holdings were 418,817 shares as of 12/31/2010.
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 $33.37 billion; its shares were traded at around $254.96 with a P/E ratio of 18.1 and P/S ratio of 6. The dividend yield of Mastercard Inc. stocks is 0.2%.
Added: Arch Capital Group Ltd. (ACGL, Financial)
Glenn Greenberg added to his holdings in Arch Capital Group Ltd. by 15.73%. His purchase prices were between $82.9 and $91.67, with an estimated average price of $87.97. The impact to his portfolio due to this purchase was 0.86%. His holdings were 783,388 shares as of 12/31/2010.
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 $4.46 billion; its shares were traded at around $91.14 with a P/E ratio of 9.6 and P/S ratio of 1.3. Arch Capital Group Ltd. had an annual average earning growth of 26.1% over the past 10 years.
New Purchase: Hewlett Packard Co (HPQ, Financial)
Glenn Greenberg initiated holdings in Hewlett Packard Co. His purchase prices were between $40.64 and $44.25, with an estimated average price of $42.41. The impact to his portfolio due to this purchase was 6.41%. His holdings were 1,661,139 shares as of 12/31/2010.
Hewlett Packard is one of the global providers of computing and imaging solutions and services for business and home. Hewlett Packard Co has a market cap of $105.82 billion; its shares were traded at around $48.31 with a P/E ratio of 10.6 and P/S ratio of 0.8. The dividend yield of Hewlett Packard Co stocks is 0.7%. Hewlett Packard Co had an annual average earning growth of 22.5% over the past 5 years.
Reduced: Google Inc. (GOOG)
Glenn Greenberg reduced to his holdings in Google Inc. by 40.88%. His sale prices were between $522.35 and $626.77, with an estimated average price of $590.4. The impact to his portfolio due to this sale was -6%. Glenn Greenberg still held 159,229 shares as of 12/31/2010.
Google is a public and profitable company focused on search services. Google Inc. has a market cap of $200.87 billion; its shares were traded at around $628.15 with a P/E ratio of 23.9 and P/S ratio of 6.8. Google Inc. had an annual average earning growth of 58.4% over the past 10 years.
Reduced: Lockheed Martin Corp. (LMT)
Glenn Greenberg reduced to his holdings in Lockheed Martin Corp. by 46.69%. His sale prices were between $68.04 and $73.29, with an estimated average price of $70.04. The impact to his portfolio due to this sale was -4.21%. Glenn Greenberg still held 749,488 shares as of 12/31/2010.
Lockheed Martin Corp. is a global enterprise principally engaged in the research, design, development, manufacture and integration of advanced-technology systems, products and services. Lockheed Martin Corp. has a market cap of $29.14 billion; its shares were traded at around $80.92 with a P/E ratio of 11 and P/S ratio of 0.6. The dividend yield of Lockheed Martin Corp. stocks is 3.7%. Lockheed Martin Corp. had an annual average earning growth of 16.6% over the past 10 years. GuruFocus rated Lockheed Martin Corp. the business predictability rank of 4.5-star.
Sold Out: Dell Inc. (DELL, Financial)
Glenn Greenberg sold out his holdings in Dell Inc.. His sale prices were between $12.9 and $14.71, with an estimated average price of $13.89.
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 $27.2 billion; its shares were traded at around $14.09 with a P/E ratio of 10.4 and P/S ratio of 0.5. Dell Inc. had an annual average earning growth of 4.1% over the past 10 years.
Sold Out: Crosstex Energy L.p. Ltd. Partnership Interest (XTEX, Financial)
Glenn Greenberg sold out his holdings in Crosstex Energy L.p. Ltd. Partnership Interest. His sale prices were between $12.82 and $14.39, with an estimated average price of $13.88.
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 Interest has a market cap of $813.8 million; its shares were traded at around $16.21 with and P/S ratio of 0.6. The dividend yield of Crosstex Energy L.p. Ltd. Partnership Interest stocks is 6.4%. Crosstex Energy L.p. Ltd. Partnership Interest had an annual average earning growth of 3.4% over the past 5 years.
Sold Out: Tidewater Inc. (TDW, Financial)
Glenn Greenberg sold out his holdings in Tidewater Inc.. His sale prices were between $43.37 and $53.57, with an estimated average price of $48.32.
Tidewater, Inc. owns and operates one of the world's largest fleets serving the international offshore energy industry. Tidewater Inc. has a market cap of $2.9 billion; its shares were traded at around $56.37 with a P/E ratio of 19.1 and P/S ratio of 2.5. The dividend yield of Tidewater Inc. stocks is 1.8%. Tidewater Inc. had an annual average earning growth of 15% over the past 10 years. GuruFocus rated Tidewater Inc. the business predictability rank of 1-star.
Sold Out: Star Gas Partners L.p. (SGU, Financial)
Glenn Greenberg sold out his holdings in Star Gas Partners L.p.. His sale prices were between $4.83 and $5.65, with an estimated average price of $5.13.
Star Gas Partners, L.P., is a publicly traded limited partnership. Star Gas Partners L.p. has a market cap of $357.9 million; its shares were traded at around $5.31 with a P/E ratio of 10.2 and P/S ratio of 0.3. The dividend yield of Star Gas Partners L.p. stocks is 5.8%. Star Gas Partners L.p. had an annual average earning growth of 80.3% over the past 5 years.
Sold Out: Comcast Corp. (CMCSA, Financial)
Glenn Greenberg sold out his holdings in Comcast Corp.. His sale prices were between $17.66 and $22.25, with an estimated average price of $20.33.
Comcast Corp., among the world's communication companies, provides basic cable, digital cable and high speed internet services that connect people to what's important in their lives. Comcast Corp. has a market cap of $66.6 billion; its shares were traded at around $23.87 with a P/E ratio of 19.1 and P/S ratio of 1.9. The dividend yield of Comcast Corp. stocks is 1.6%. Comcast Corp. had an annual average earning growth of 14.9% over the past 10 years.
Sold Out: Nicholas Financial Inc. (NICK, Financial)
Glenn Greenberg sold out his holdings in Nicholas Financial Inc.. His sale prices were between $9.17 and $10.469, with an estimated average price of $9.97.
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 $145.5 million; its shares were traded at around $12.3399 with a P/E ratio of 9.5 and P/S ratio of 2.6. Nicholas Financial Inc. had an annual average earning growth of 4.7% over the past 10 years.
Sold Out: Bank Of America Corp. (BAC)
Glenn Greenberg sold out his holdings in Bank Of America Corp.. His sale prices were between $10.95 and $13.56, with an estimated average price of $12.2.
Bank of America Corp. is one of the world's financial services companies. Bank Of America Corp. has a market cap of $150.17 billion; its shares were traded at around $14.89 with a P/E ratio of 17.3 and P/S ratio of 1.1. The dividend yield of Bank Of America Corp. stocks is 0.3%.
Sold Out: Approach Resources Inc. (AREX)
Glenn Greenberg sold out his holdings in Approach Resources Inc.. His sale prices were between $11.55 and $23.62, with an estimated average price of $17.75.
Approach Resources Inc. is an independent energy company engaged in the exploration, development, exploitation, production and acquisition of unconventional natural gas and oil properties onshore in the United States and Western Canada. Approach Resources Inc. has a market cap of $789 million; its shares were traded at around $28.92 with a P/E ratio of 103.3 and P/S ratio of 19.4.
