Renowned investment guru Glenn Greenberg recently disclosed his firm's portfolio updates for the second quarter of 2023, which ended on June 30, 2023. Greenberg, known for his concentrated investment strategy and long-term focus, has built a reputation for identifying undervalued stocks with strong growth potential. His firm's portfolio for Q2 2023 comprised 32 stocks with a total value of $3.78 billion.
Top Holdings
The top holdings in Greenberg's portfolio were Apollo Global Management Inc. (APO) with 15.98%, Elevance Health Inc. (ELV, Financial) with 15.51%, and Primerica Inc. (PRI) with 11.20% of the total portfolio. These holdings reflect Greenberg's investment philosophy of focusing on a select few high-quality stocks.
Top Trades of the Quarter
Greenberg's top three trades for the quarter included significant purchases in Elevance Health Inc., United Rentals Inc., and Lithia Motors Inc.
Elevance Health Inc (NYSE:ELV)
During the quarter, Greenberg acquired an additional 236,504 shares of Elevance Health Inc., bringing the total holding to 1,321,272 shares. This trade had a 2.78% impact on the equity portfolio. The stock traded for an average price of $461.29 during the quarter. As of August 14, 2023, ELV's price stood at $471.11 with a market cap of $110.77 billion. Despite a -3.19% return over the past year, the company has a strong financial strength rating of 6 out of 10 and a profitability rating of 8 out of 10 from GuruFocus.
United Rentals Inc (NYSE:URI)
Greenberg also increased his stake in United Rentals Inc. by 83,056 shares, bringing the total holding to 523,827 shares. This trade impacted the equity portfolio by 0.98%. The stock traded for an average price of $370.98 during the quarter. As of August 14, 2023, URI's price was $487.565 with a market cap of $33.20 billion. The stock has returned 46.34% over the past year, and GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 10 out of 10.
Lithia Motors Inc (NYSE:LAD)
Lastly, Greenberg purchased an additional 77,437 shares of Lithia Motors Inc., bringing the total holding to 1,147,259 shares. This trade had a 0.62% impact on the equity portfolio. The stock traded for an average price of $239.31 during the quarter. As of August 14, 2023, LAD's price was $315.89 with a market cap of $8.69 billion. The stock has returned 19.52% over the past year, and GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 9 out of 10.
In conclusion, Glenn Greenberg (Trades, Portfolio)'s Q2 2023 portfolio update reveals a continued focus on high-quality stocks with strong growth potential. His top trades for the quarter reflect his firm's concentrated investment strategy and long-term focus.
