GREENHAVEN ASSOCIATES INC recently filed their 13F report for the second quarter of 2022, which ended on 2022-06-30.
The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.
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.
As of the latest 13F report, the guru’s equity portfolio contained 26 stocks valued at a total of $4.17Bil. The top holdings were GS(15.77%), LEN(15.76%), and JPM(12.23%).
According to GuruFocus data, these were GREENHAVEN ASSOCIATES INC’s top five trades of the quarter.
WestRock Co
The guru established a new position worth 7,176,300 shares in NYSE:WRK, giving the stock a 10.75% weight in the equity portfolio. Shares traded for an average price of $45.72 during the quarter.
On 08/01/2022, WestRock Co traded for a price of $42.13 per share and a market cap of $10.79Bil. The stock has returned -11.99% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, WestRock Co has a price-earnings ratio of 14.31, a price-book ratio of 0.95, a price-earnings-to-growth (PEG) ratio of 2.75, a EV-to-Ebitda ratio of 6.50 and a price-sales ratio of 0.56.
The price-to-GF Value ratio is 0.89, earning the stock a GF Value rank of 7.
International Paper Co
During the quarter, GREENHAVEN ASSOCIATES INC bought 3,307,625 shares of NYSE:IP for a total holding of 4,995,325. The trade had a 4.86% impact on the equity portfolio. During the quarter, the stock traded for an average price of $46.11.
On 08/01/2022, International Paper Co traded for a price of $42.655 per share and a market cap of $15.89Bil. The stock has returned -18.15% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, International Paper Co has a price-earnings ratio of 8.90, a price-book ratio of 1.74, a EV-to-Ebitda ratio of 9.09 and a price-sales ratio of 0.88.
The price-to-GF Value ratio is 0.86, earning the stock a GF Value rank of 9.
JPMorgan Chase & Co
During the quarter, GREENHAVEN ASSOCIATES INC bought 642,011 shares of NYSE:JPM for a total holding of 647,011. The trade had a 2.79% impact on the equity portfolio. During the quarter, the stock traded for an average price of $147.84.
On 08/01/2022, JPMorgan Chase & Co traded for a price of $113.43 per share and a market cap of $333.39Bil. The stock has returned -22.58% over the past year.
GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 6 out of 10.
In terms of valuation, JPMorgan Chase & Co has a price-earnings ratio of 9.12, a price-book ratio of 1.32, a price-earnings-to-growth (PEG) ratio of 1.36 and a price-sales ratio of 2.81.
The price-to-GF Value ratio is 0.78, earning the stock a GF Value rank of 9.
Citigroup Inc
During the quarter, GREENHAVEN ASSOCIATES INC bought 844,900 shares of NYSE:C for a total holding of 5,372,040. The trade had a 1.44% impact on the equity portfolio. During the quarter, the stock traded for an average price of $61.89.
On 08/01/2022, Citigroup Inc traded for a price of $51.65 per share and a market cap of $100.07Bil. The stock has returned -20.57% over the past year.
GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 5 out of 10.
In terms of valuation, Citigroup Inc has a price-earnings ratio of 6.62, a price-book ratio of 0.56, a price-earnings-to-growth (PEG) ratio of 1.25 and a price-sales ratio of 1.40.
The price-to-GF Value ratio is 0.75, earning the stock a GF Value rank of 10.
Stanley Black & Decker Inc
The guru established a new position worth 184,823 shares in NYSE:SWK, giving the stock a 0.82% weight in the equity portfolio. Shares traded for an average price of $165.54 during the quarter.
On 08/01/2022, Stanley Black & Decker Inc traded for a price of $97.61 per share and a market cap of $14.75Bil. The stock has returned -48.80% over the past year.
GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, Stanley Black & Decker Inc has a price-earnings ratio of 11.68, a price-book ratio of 1.68, a price-earnings-to-growth (PEG) ratio of 10.13, a EV-to-Ebitda ratio of 12.93 and a price-sales ratio of 1.02.
The price-to-GF Value ratio is 0.49, earning the stock a GF Value rank of 4.
Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.
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