Glenn Greenberg Adds to Familiar Stakes in First Quarter

Jun 11, 2015

Once known as "the next Buffett," Glenn Greenberg (Trades, Portfolio), co-founder of Chieftain Capital Management, takes a deliberate, disciplined approach to his investments. He looks for companies whose growth rate is slow but steady, avoiding riskier investments that offer the possibility of great rewards as well as great losses. In the first quarter, he added to several such existing stakes in his portfolio.

Greenberg added to his third-most valuable stake, JPMorgan Chase & Co (JPM, Financial), a banking and financial services holding company based in New York. He bought 655,332 shares for an average price of $59.22 per share. The transaction had a 1.21% impact on Greenberg’s portfolio.

Reportedly, Bank of America Corp. (BAC, Financial) has hired a JPMorgan banker to lead its Canadian energy investment banking.

Greenberg also added to his fourth-most valuable stake, Charles Schwab Corp (SCHW, Financial), a San Francisco-based brokerage and banking company, buying 717,521 shares for an average price of $28.99 per share. The deal had a 0.67% impact on his portfolio.

Greenberg bought more shares of his fifth-most valuable stake, Microsoft Corp (MSFT, Financial), a Redmond, Washington-based technology company. Burbank acquired 1,109,435 shares for an average price of $43.53 per share. The purchase had a 0.46% impact on his portfolio.

In its ongoing video game console war with Sony (SNE, Financial), Microsoft is widely expected to reveal its changes to its popular Xbox and the new games it hopes will drive profits in 2015 at E3 in Los Angeles next week.

Greenberg increased his stake in his sixth-most valuable stake, Halliburton Co (HAL, Financial), an oilfield services and equipment company based in Houston, purchasing 1,424,863 shares for an average price of $41.69 per share. The transaction had a 1.91% impact on his portfolio.

Greenberg also added to his stakes in Equinix Inc (EQIX, Financial) and Baker Hughes Inc (BHI, Financial) in the first quarter.

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