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Insights from the First Quarter of 2025 13F Filing
Glenn Greenberg (Trades, Portfolio), a seasoned investor known for his concentrated investment approach, recently submitted his 13F filing for the first quarter of 2025. Greenberg, alongside John Shapiro, founded Chieftain Capital Management in 1984, achieving an impressive 22.5% compound annual growth rate before management fees over two decades. Following the division of Chieftain Capital, Greenberg now leads Brave Warrior Advisors, where he continues to focus on a select number of companies. His investment philosophy emphasizes deep knowledge of each holding, prioritizing companies with minimal competition and strong returns on invested capital.
Summary of New Buy
In the first quarter of 2025, Glenn Greenberg (Trades, Portfolio) made significant additions to his portfolio, acquiring five new stocks. The most notable addition was SLM Corp (NASDAQ:SLM), with 9,455,374 shares, representing 6.36% of the portfolio and valued at $277,704,330 million. This strategic move highlights Greenberg's confidence in SLM Corp's potential. Other significant additions include Millrose Properties Inc (NYSE:MRP) with 7,958,813 shares, accounting for 4.83% of the portfolio and valued at $210,988,130 million, and Builders FirstSource Inc (NYSE:BLDR) with 1,241,578 shares, making up 3.55% of the portfolio and valued at $155,122,760 million.
Key Position Increases
Greenberg also increased his stakes in four stocks, with the most notable being Capital One Financial Corp (NYSE:COF). He added 630,053 shares, bringing the total to 631,553 shares, marking a substantial 42,003.53% increase in share count and a 2.58% impact on the current portfolio, valued at $113,237,450 million. Another significant increase was in D.R. Horton Inc (NYSE:DHI), with an additional 393,470 shares, totaling 1,174,997 shares, representing a 50.35% increase in share count and valued at $149,377,370 million.
Key Position Reduces
During the same period, Greenberg reduced his positions in 13 stocks. The most significant reductions were in Discover Financial Services (NYSE:DFS), with a decrease of 915,085 shares, resulting in a -36.26% reduction in shares and a -3.94% impact on the portfolio. The stock traded at an average price of $182.9 during the quarter, returning 2.65% over the past three months and 16.13% year-to-date. Additionally, Fidelity National Financial Inc (NYSE:FNF) saw a reduction of 2,439,170 shares, a -40.84% decrease in shares, and a -3.41% impact on the portfolio. The stock traded at an average price of $60.08, with returns of 0.13% over the past three months and 3.36% year-to-date.