Hedge fund manager Glenn Greenberg founded Chieftain Capital Management in 1984. Greenberg runs a concentrated portfolio and invests personally, alongside his clients, in the same portfolio. Greenberg looks for companies with zero or few competitors and maintains that industries with gradual (rather than steep) growth attract less competition. He is buying the top predictable companies. This is his Q1 portfolio update.
Glenn Greenberg buys U.S. Bancorp, Waters Corp., General Dynamics Corp., sells America Movil S.A.B. de C.V., Comcast Corp., Eaton Corp., IngersollRand Company Ltd. during the 3-months ended 03/31/2009, according to the most recent filings of his investment company, Chieftain Capital Management Inc. Glenn Greenberg owns 12 stocks with a total value of $1.8 billion. These are the details of the buys and sells.
New Purchases: GD, USB, WAT,
Added Positions: AXP, COL,
Reduced Positions: LH,
Sold Out: AMX, CMCSA, ETN, IR,
For the details of Glenn Greenberg's stock buys and sells, go to the Link Here
This is the sector weightings of Glenn Greenberg's portfolio:
These are the top 5 holdings of $GuruName
Glenn Greenberg added to his holdings in American Express Company by 42.91%. His purchase prices were between $10.12 and $18.98, with an estimated average price of $14.6. The impact to his portfolio due to this purchase was 2.59%. His holdings were 11,324,265 shares as of 03/31/2009.
American Express Company is primarily engaged in the business of providing travel related services financial advisory services and international banking services throughout the world. American Express Travel Related Services Company Inc. provides a variety of products and services including global network services the American Express Card the Optima Card and other consumer and corporate lending products stored value products and several others. American Express Company has a market cap of $28.1 billion; its shares were traded at around $24.23 with a P/E ratio of 13.24 and P/S ratio of 0.99. The dividend yield of American Express Company stocks is 2.97%. American Express Company had an annual average earning growth of 1.3% over the past 10 years.
Added: Rockwell Collins Inc. (COL, Financial)
Glenn Greenberg added to his holdings in Rockwell Collins Inc. by 17.02%. His purchase prices were between $28.17 and $38.54, with an estimated average price of $34.5. The impact to his portfolio due to this purchase was 0.48%. His holdings were 1,811,675 shares as of 03/31/2009.
Rockwell Collins Inc. is a world leader in providing aviation electronics and airborne and mobile communications products and systems for commercial and military applications. Rockwell Collins Inc. has a market cap of $6.04 billion; its shares were traded at around $38.22 with a P/E ratio of 9.14 and P/S ratio of 1.27. The dividend yield of Rockwell Collins Inc. stocks is 2.51%. Rockwell Collins Inc. had an annual average earning growth of 27.9% over the past 5 years.
New Purchase: U.S. Bancorp (USB, Financial)
Glenn Greenberg initiated holdings in U.S. Bancorp. His purchase prices were between $8.79 and $22.28, with an estimated average price of $14.6. The impact to his portfolio due to this purchase was 10.11%. His holdings were 12,386,850 shares as of 03/31/2009.
U.S. Bancorp is a financial services holding company. They operate full-service branch offices and ATMs and provides a comprehensive line of banking brokerage insurance investment mortgage trust and payment services products to consumers businesses and institutions. U.S. Bancorp is the parent company of Firstar Bank and U.S. Bank. U.S. Bancorp has a market cap of $31.07 billion; its shares were traded at around $17.67 with a P/E ratio of 14.25 and P/S ratio of 1.62. The dividend yield of U.S. Bancorp stocks is 1.13%. U.S. Bancorp had an annual average earning growth of 13.4% over the past 10 years. GuruFocus rated U.S. Bancorp the business predictability rank of 3.5-star.
New Purchase: Waters Corp. (WAT, Financial)
Glenn Greenberg initiated holdings in Waters Corp.. His purchase prices were between $31.62 and $41.76, with an estimated average price of $36.4. The impact to his portfolio due to this purchase was 6.71%. His holdings were 3,248,305 shares as of 03/31/2009.
Waters Corporation is a holding company which owns only and all of the outstanding common stock of Waters Technologies Corporation the operating subsidiary. It operates in the analytical instrument industry with manufacturing and distribution expertise in three complementary technologies: high performance liquid chromatography instruments chromatography columns and other consumables and related service; mass spectrometry instruments that can be integrated and used along with other analytical instruments; and thermal analysis and rheology instruments. Waters Corp. has a market cap of $4.22 billion; its shares were traded at around $43.48 with a P/E ratio of 12.98 and P/S ratio of 2.68. Waters Corp. had an annual average earning growth of 14.4% over the past 10 years. GuruFocus rated Waters Corp. the business predictability rank of 5-star.
New Purchase: General Dynamics Corp. (GD, Financial)
Glenn Greenberg initiated holdings in General Dynamics Corp.. His purchase prices were between $36.19 and $57.07, with an estimated average price of $48.2. The impact to his portfolio due to this purchase was 1.67%. His holdings were 718,300 shares as of 03/31/2009.
General Dynamics Corp.'s primary businesses focus is on shipbuilding and marine systems business aviation information systems and land and amphibious combat systems. Each of these businesses involves design manufacturing and program management expertise advanced technology and integration of complex systems. The primary customers for the company's businesses are the United States military the armed forces of allied nations other government organizations and a diverse base of corporate and industrial buyers. General Dynamics Corp. has a market cap of $21.2 billion; its shares were traded at around $55.01 with a P/E ratio of 8.66 and P/S ratio of 0.72. The dividend yield of General Dynamics Corp. stocks is 2.76%. General Dynamics Corp. had an annual average earning growth of 13.9% over the past 10 years. GuruFocus rated General Dynamics Corp. the business predictability rank of 5-star.
Reduced: Laboratory Corp. of America Holdings (LH, Financial)
Glenn Greenberg reduced to his holdings in Laboratory Corp. of America Holdings by 21.05%. His sale prices were between $54.99 and $62.85, with an estimated average price of $58.9. The impact to his portfolio due to this sale was -3.34%. Glenn Greenberg still held 4,860,812 shares as of 03/31/2009.
Laboratory Corporation of America Holdings is one of the largest independent clinical laboratory company's in the United States. Through a national network of laboratories the company offers different clinical laboratory tests which are used by the medical profession in routine testing patient diagnosis and in the monitoring and treatment of disease. Laboratory Corp. of America Holdings has a market cap of $6.68 billion; its shares were traded at around $61.66 with a P/E ratio of 13.15 and P/S ratio of 1.48. Laboratory Corp. of America Holdings had an annual average earning growth of 10.3% over the past 10 years.
Sold Out: Eaton Corp. (ETN, Financial)
Glenn Greenberg sold out his holdings in Eaton Corp.. His sale prices were between $30.76 and $49.03, with an estimated average price of $40.3. The impact to his portfolio due to this sale was less than 0.01%.
Eaton Corporation is a global diversified industrial manufacturer. Eaton is one of the leaders in fluid power systems electrical power quality and controls automotive air management and fuel economy and intelligent truck components for fuel economy and safety. Eaton Corp. has a market cap of $7.49 billion; its shares were traded at around $45.31 with a P/E ratio of 9.23 and P/S ratio of 0.49. The dividend yield of Eaton Corp. stocks is 4.41%. Eaton Corp. had an annual average earning growth of 7.4% over the past 10 years.
Sold Out: IngersollRand Company Ltd. (IR, Financial)
Glenn Greenberg sold out his holdings in IngersollRand Company Ltd.. His sale prices were between $11.74 and $19.63, with an estimated average price of $15.6. The impact to his portfolio due to this sale was less than 0.01%.
Ingersoll Rand Company is one of the leading providers of security and safety climate control industrial productivity and infrastructure products. In each of these markets the company offers a diverse productportfolio that includes well-recognized industrial and commercial brands. IngersollRand Company Ltd. has a market cap of $6.56 billion; its shares were traded at around $20.55 with a P/E ratio of 8.19 and P/S ratio of 0.5. The dividend yield of IngersollRand Company Ltd. stocks is 3.5%. IngersollRand Company Ltd. had an annual average earning growth of 4.6% over the past 10 years.
Sold Out: Comcast Corp. (CMCSA, Financial)
Glenn Greenberg sold out his holdings in Comcast Corp.. His sale prices were between $11.58 and $16.25, with an estimated average price of $13.8. The impact to his portfolio due to this sale was less than 0.01%.
Comcast Corp. among the world's leading communication companies provides basic cable digital cable and high speed internet services that connect people to what's important in their lives. They are in the process of deploying digital video applications and high-speed Internet access service to expand the products available on their cable communications networks. Comcast Corp. has a market cap of $41.58 billion; its shares were traded at around $14.42 with a P/E ratio of 14.57 and P/S ratio of 1.21. The dividend yield of Comcast Corp. stocks is 1.87%. Comcast Corp. had an annual average earning growth of 9.6% over the past 10 years.
Sold Out: America Movil S.A.B. de C.V. (AMX, Financial)
Glenn Greenberg sold out his holdings in America Movil S.A.B. de C.V.. His sale prices were between $24.38 and $31.75, with an estimated average price of $28.2. The impact to his portfolio due to this sale was less than 0.01%.
American Movil is the leading provider of wireless communications services in Mexico. Through their subsidiary Radiom?vil Dipsa which operates under the trademark Telcel they provide cellular telecommunications service in all nine regions in Mexico with a network covering approximately 31.4% of the geographical area of Mexico including all major cities and approximately 89.6% of Mexico 's population. America Movil S.A.B. de C.V. has a market cap of $63.41 billion; its shares were traded at around $35.23 with a P/E ratio of 10.84 and P/S ratio of 2.02. The dividend yield of America Movil S.A.B. de C.V. stocks is 1.43%. America Movil S.A.B. de C.V. had an annual average earning growth of 45.5% over the past 5 years.
Glenn Greenberg buys U.S. Bancorp, Waters Corp., General Dynamics Corp., sells America Movil S.A.B. de C.V., Comcast Corp., Eaton Corp., IngersollRand Company Ltd. during the 3-months ended 03/31/2009, according to the most recent filings of his investment company, Chieftain Capital Management Inc. Glenn Greenberg owns 12 stocks with a total value of $1.8 billion. These are the details of the buys and sells.
New Purchases: GD, USB, WAT,
Added Positions: AXP, COL,
Reduced Positions: LH,
Sold Out: AMX, CMCSA, ETN, IR,
For the details of Glenn Greenberg's stock buys and sells, go to the Link Here
This is the sector weightings of Glenn Greenberg's portfolio:
| Technology |  9.3% |
|---|---|
| Financials | 18.7% |
| Consumer Services | 37.4% |
| Health Care | 15.9% |
| Industrials | 17.8% |
| Oil & Gas | 0.9% |
These are the top 5 holdings of $GuruName
- Comcast Corp. Special (CMCSK) - 31,714,396 shares, 22.8% of the total portfolio
- Laboratory Corp. of America Holdings (LH) - 4,860,812 shares, 15.88% of the total portfolio
- Ryanair Holdings plc (RYAAY) - 11,341,889 shares, 14.64% of the total portfolio
- U.S. Bancorp (USB) - 12,386,850 shares, 10.11% of the total portfolio
- Dell Inc. (DELL) - 17,491,275 shares, 9.26% of the total portfolio
Glenn Greenberg added to his holdings in American Express Company by 42.91%. His purchase prices were between $10.12 and $18.98, with an estimated average price of $14.6. The impact to his portfolio due to this purchase was 2.59%. His holdings were 11,324,265 shares as of 03/31/2009.
American Express Company is primarily engaged in the business of providing travel related services financial advisory services and international banking services throughout the world. American Express Travel Related Services Company Inc. provides a variety of products and services including global network services the American Express Card the Optima Card and other consumer and corporate lending products stored value products and several others. American Express Company has a market cap of $28.1 billion; its shares were traded at around $24.23 with a P/E ratio of 13.24 and P/S ratio of 0.99. The dividend yield of American Express Company stocks is 2.97%. American Express Company had an annual average earning growth of 1.3% over the past 10 years.
Added: Rockwell Collins Inc. (COL, Financial)
Glenn Greenberg added to his holdings in Rockwell Collins Inc. by 17.02%. His purchase prices were between $28.17 and $38.54, with an estimated average price of $34.5. The impact to his portfolio due to this purchase was 0.48%. His holdings were 1,811,675 shares as of 03/31/2009.
Rockwell Collins Inc. is a world leader in providing aviation electronics and airborne and mobile communications products and systems for commercial and military applications. Rockwell Collins Inc. has a market cap of $6.04 billion; its shares were traded at around $38.22 with a P/E ratio of 9.14 and P/S ratio of 1.27. The dividend yield of Rockwell Collins Inc. stocks is 2.51%. Rockwell Collins Inc. had an annual average earning growth of 27.9% over the past 5 years.
New Purchase: U.S. Bancorp (USB, Financial)
Glenn Greenberg initiated holdings in U.S. Bancorp. His purchase prices were between $8.79 and $22.28, with an estimated average price of $14.6. The impact to his portfolio due to this purchase was 10.11%. His holdings were 12,386,850 shares as of 03/31/2009.
U.S. Bancorp is a financial services holding company. They operate full-service branch offices and ATMs and provides a comprehensive line of banking brokerage insurance investment mortgage trust and payment services products to consumers businesses and institutions. U.S. Bancorp is the parent company of Firstar Bank and U.S. Bank. U.S. Bancorp has a market cap of $31.07 billion; its shares were traded at around $17.67 with a P/E ratio of 14.25 and P/S ratio of 1.62. The dividend yield of U.S. Bancorp stocks is 1.13%. U.S. Bancorp had an annual average earning growth of 13.4% over the past 10 years. GuruFocus rated U.S. Bancorp the business predictability rank of 3.5-star.
New Purchase: Waters Corp. (WAT, Financial)
Glenn Greenberg initiated holdings in Waters Corp.. His purchase prices were between $31.62 and $41.76, with an estimated average price of $36.4. The impact to his portfolio due to this purchase was 6.71%. His holdings were 3,248,305 shares as of 03/31/2009.
Waters Corporation is a holding company which owns only and all of the outstanding common stock of Waters Technologies Corporation the operating subsidiary. It operates in the analytical instrument industry with manufacturing and distribution expertise in three complementary technologies: high performance liquid chromatography instruments chromatography columns and other consumables and related service; mass spectrometry instruments that can be integrated and used along with other analytical instruments; and thermal analysis and rheology instruments. Waters Corp. has a market cap of $4.22 billion; its shares were traded at around $43.48 with a P/E ratio of 12.98 and P/S ratio of 2.68. Waters Corp. had an annual average earning growth of 14.4% over the past 10 years. GuruFocus rated Waters Corp. the business predictability rank of 5-star.
New Purchase: General Dynamics Corp. (GD, Financial)
Glenn Greenberg initiated holdings in General Dynamics Corp.. His purchase prices were between $36.19 and $57.07, with an estimated average price of $48.2. The impact to his portfolio due to this purchase was 1.67%. His holdings were 718,300 shares as of 03/31/2009.
General Dynamics Corp.'s primary businesses focus is on shipbuilding and marine systems business aviation information systems and land and amphibious combat systems. Each of these businesses involves design manufacturing and program management expertise advanced technology and integration of complex systems. The primary customers for the company's businesses are the United States military the armed forces of allied nations other government organizations and a diverse base of corporate and industrial buyers. General Dynamics Corp. has a market cap of $21.2 billion; its shares were traded at around $55.01 with a P/E ratio of 8.66 and P/S ratio of 0.72. The dividend yield of General Dynamics Corp. stocks is 2.76%. General Dynamics Corp. had an annual average earning growth of 13.9% over the past 10 years. GuruFocus rated General Dynamics Corp. the business predictability rank of 5-star.
Reduced: Laboratory Corp. of America Holdings (LH, Financial)
Glenn Greenberg reduced to his holdings in Laboratory Corp. of America Holdings by 21.05%. His sale prices were between $54.99 and $62.85, with an estimated average price of $58.9. The impact to his portfolio due to this sale was -3.34%. Glenn Greenberg still held 4,860,812 shares as of 03/31/2009.
Laboratory Corporation of America Holdings is one of the largest independent clinical laboratory company's in the United States. Through a national network of laboratories the company offers different clinical laboratory tests which are used by the medical profession in routine testing patient diagnosis and in the monitoring and treatment of disease. Laboratory Corp. of America Holdings has a market cap of $6.68 billion; its shares were traded at around $61.66 with a P/E ratio of 13.15 and P/S ratio of 1.48. Laboratory Corp. of America Holdings had an annual average earning growth of 10.3% over the past 10 years.
Sold Out: Eaton Corp. (ETN, Financial)
Glenn Greenberg sold out his holdings in Eaton Corp.. His sale prices were between $30.76 and $49.03, with an estimated average price of $40.3. The impact to his portfolio due to this sale was less than 0.01%.
Eaton Corporation is a global diversified industrial manufacturer. Eaton is one of the leaders in fluid power systems electrical power quality and controls automotive air management and fuel economy and intelligent truck components for fuel economy and safety. Eaton Corp. has a market cap of $7.49 billion; its shares were traded at around $45.31 with a P/E ratio of 9.23 and P/S ratio of 0.49. The dividend yield of Eaton Corp. stocks is 4.41%. Eaton Corp. had an annual average earning growth of 7.4% over the past 10 years.
Sold Out: IngersollRand Company Ltd. (IR, Financial)
Glenn Greenberg sold out his holdings in IngersollRand Company Ltd.. His sale prices were between $11.74 and $19.63, with an estimated average price of $15.6. The impact to his portfolio due to this sale was less than 0.01%.
Ingersoll Rand Company is one of the leading providers of security and safety climate control industrial productivity and infrastructure products. In each of these markets the company offers a diverse productportfolio that includes well-recognized industrial and commercial brands. IngersollRand Company Ltd. has a market cap of $6.56 billion; its shares were traded at around $20.55 with a P/E ratio of 8.19 and P/S ratio of 0.5. The dividend yield of IngersollRand Company Ltd. stocks is 3.5%. IngersollRand Company Ltd. had an annual average earning growth of 4.6% over the past 10 years.
Sold Out: Comcast Corp. (CMCSA, Financial)
Glenn Greenberg sold out his holdings in Comcast Corp.. His sale prices were between $11.58 and $16.25, with an estimated average price of $13.8. The impact to his portfolio due to this sale was less than 0.01%.
Comcast Corp. among the world's leading communication companies provides basic cable digital cable and high speed internet services that connect people to what's important in their lives. They are in the process of deploying digital video applications and high-speed Internet access service to expand the products available on their cable communications networks. Comcast Corp. has a market cap of $41.58 billion; its shares were traded at around $14.42 with a P/E ratio of 14.57 and P/S ratio of 1.21. The dividend yield of Comcast Corp. stocks is 1.87%. Comcast Corp. had an annual average earning growth of 9.6% over the past 10 years.
Sold Out: America Movil S.A.B. de C.V. (AMX, Financial)
Glenn Greenberg sold out his holdings in America Movil S.A.B. de C.V.. His sale prices were between $24.38 and $31.75, with an estimated average price of $28.2. The impact to his portfolio due to this sale was less than 0.01%.
American Movil is the leading provider of wireless communications services in Mexico. Through their subsidiary Radiom?vil Dipsa which operates under the trademark Telcel they provide cellular telecommunications service in all nine regions in Mexico with a network covering approximately 31.4% of the geographical area of Mexico including all major cities and approximately 89.6% of Mexico 's population. America Movil S.A.B. de C.V. has a market cap of $63.41 billion; its shares were traded at around $35.23 with a P/E ratio of 10.84 and P/S ratio of 2.02. The dividend yield of America Movil S.A.B. de C.V. stocks is 1.43%. America Movil S.A.B. de C.V. had an annual average earning growth of 45.5% over the past 5 years.
