Greenhaven Associates portfolio & holdings
Greenhaven Associates
Historical clone performance and limitations
Greenhaven Associates (Greenhaven Associates) discloses a $8.66B portfolio across 28 US-listed positions in the latest 13F filing (2026Q2, filed Jul 28, 2026). The largest holding is LEN at 11.8% of the book.
Q2 2026 reported changes: 4 new positions, 2 additions, 2 reductions, and 3 exits.
Holdings as of Jun 30, 2026; filed Jul 28, 2026. 13F filings do not reveal trade dates, prices, or reasons.
Open this manager's SEC filings ↗Latticework Follow
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Holdings (28) · click any column to sort
| #↑ | Ticker | Issuer | % Port. | This Q | History | Value |
|---|---|---|---|---|---|---|
| 1 | LEN | 11.8% | $1.02B | |||
| 2 | 35045V100 | 11.5% | $992M | |||
| 3 | TOL | 10.7% | $928M | |||
| 4 | BDX | 9.9% | $860M | |||
| 5 | PHM | 8.6% | $749M | |||
| 6 | DHI | 6.6% | $571M | |||
| 7 | ICLR | 6.2% | $539M | |||
| 8 | ACN | 4.9% | $421M | |||
| 9 | OSK | 4.5% | $393M | |||
| 10 | ARW | 4.3% | $376M | |||
| 11 | AVT | 3.9% | $335M | |||
| 12 | BAX | 3.5% | $305M | |||
| 13 | AVTR | 2.8% | $244M | |||
| 14 | LEA | 2.3% | $195M | |||
| 15 | SLB | 2.0% | $177M | |||
| 16 | IQV | 1.7% | $148M | |||
| 17 | MTH | 1.3% | $109M | |||
| 18 | NOV | 1.2% | $104M | |||
| 19 | DNOW | 0.7% | $56M | |||
| 20 | VBIL | 0.6% | $50M | |||
| 21 | EPAM | 0.5% | $47M | |||
| 22 | LEN/B | 0.4% | $32M | |||
| 23 | CRH | <0.1% | $2M | |||
| 24 | A | <0.1% | $1M | |||
| 25 | SCHW | <0.1% | $1M | |||
| 26 | JPM | <0.1% | $818K | |||
| 27 | UNP | <0.1% | $553K | |||
| 28 | G3922B107 | <0.1% | $275K |
- 1LENport11.8%val$1.02BLennar Corp-athis Q hold·40q
- 235045V100port11.5%val$992MGeneral Motors CO (gm)this Q hold·31q
- 3TOLport10.7%val$928MToll Brothers Incthis Q hold·40q
- 4BDXport9.9%val$860MBecton Dickinson And COthis Q New·—1q
- 5PHMport8.6%val$749MPultegroup Incthis Q hold·36q
- 6DHIport6.6%val$571MDR Horton Incthis Q hold·40q
- 7ICLRport6.2%val$539MIcon Plc (iclr)this Q +55%·5q
- 8ACNport4.9%val$421MAccenture Plc (acn)this Q New·—1q
- 9OSKport4.5%val$393MOshkosh Corpthis Q hold·16q
- 10ARWport4.3%val$376MArrow Electronics Incthis Q hold·14q
- 11AVTport3.9%val$335MAvnet Incthis Q hold·16q
- 12BAXport3.5%val$305MBaxter International Incthis Q hold·4q
- 13AVTRport2.8%val$244MAvantor Incthis Q hold·4q
- 14LEAport2.3%val$195MLear Corpthis Q hold·25q
- 15SLBport2.0%val$177MSlb Ltdthis Q hold·3q
- 16IQVport1.7%val$148MIqvia Holdings Incthis Q New·—1q
- 17MTHport1.3%val$109MMeritage Homes Corpthis Q hold·23q
- 18NOVport1.2%val$104MNov Incthis Q hold·12q
- 19DNOWport0.7%val$56MDnow Incthis Q +427%·2q
- 20VBILport0.6%val$50MVanguard 0-3m T-bill Etfthis Q -45%·4q
- 21EPAMport0.5%val$47MEpam Systems Incthis Q New·—1q
- 22LEN/Bport0.4%val$32MLennar Corp - B Shsthis Q hold·35q
- 23CRHport<0.1%val$2MCrh Plc (crh)this Q hold·12q
- 24Aport<0.1%val$1MAgilent Technologies Incthis Q hold·40q
- 25SCHWport<0.1%val$1MSchwab (charles) Corpthis Q hold·25q
- 26JPMport<0.1%val$818KJpmorgan Chase & COthis Q -37%·40q
- 27UNPport<0.1%val$553KUnion Pacific Corpthis Q hold·39q
- 28G3922B107port<0.1%val$275KGenpact Ltd (g)this Q hold·11q
2026Q2 moves, by size (11)(expand ↓)
| Ticker | Issuer | Move | % Port. | Δ Shares | Value |
|---|---|---|---|---|---|
| BDX | Becton Dickinson And CO | NEW | 9.9% | +100% | $860M |
| ICLR | Icon Plc (iclr) | ADD | 6.2% | +55% | $539M |
| ACN | Accenture Plc (acn) | NEW | 4.9% | +100% | $421M |
| IQV | Iqvia Holdings Inc | NEW | 1.7% | +100% | $148M |
| VBIL | Vanguard 0-3m T-bill Etf | TRIM | 0.6% | -45% | $50M |
| DNOW | Dnow Inc | ADD | 0.7% | +427% | $56M |
| EPAM | Epam Systems Inc | NEW | 0.5% | +100% | $47M |
| TMHC | Taylor Morrison Home Corp | EXIT | 0.3% | -100% | $0 |
| JPM | Jpmorgan Chase & CO | TRIM | <0.1% | -38% | $818K |
| TEX | Terex Corp | EXIT | <0.1% | -100% | $0 |
| STLA | Stellantis NV (stla) | EXIT | <0.1% | -100% | $0 |
- NEWBDX9.9%Becton Dickinson And COΔ +100%·$860M
- ADDICLR6.2%Icon Plc (iclr)Δ +55%·$539M
- NEWACN4.9%Accenture Plc (acn)Δ +100%·$421M
- NEWIQV1.7%Iqvia Holdings IncΔ +100%·$148M
- TRIMVBIL0.6%Vanguard 0-3m T-bill EtfΔ -45%·$50M
- ADDDNOW0.7%Dnow IncΔ +427%·$56M
- NEWEPAM0.5%Epam Systems IncΔ +100%·$47M
- EXITTMHC0.3%Taylor Morrison Home CorpΔ -100%·$0
- TRIMJPM<0.1%Jpmorgan Chase & COΔ -38%·$818K
- EXITTEX<0.1%Terex CorpΔ -100%·$0
- EXITSTLA<0.1%Stellantis NV (stla)Δ -100%·$0
About Greenhaven Associates
Greenhaven Associates, founded by Edgar Wachenheim III, runs a concentrated, long-only equity book with a value tilt and a pronounced sector conviction that is immediately apparent from the 13F. As of the latest filing, homebuilders — LEN, TOL, PHM, DHI, and one additional position representing the largest single weight — account for roughly 62% of a $6.1 billion disclosed portfolio across just 27 names, a level of concentration that reflects genuine high-conviction positioning rather than index-hugging. Wachenheim built his reputation on careful fundamental analysis of undervalued businesses, and the homebuilder thesis has been a defining, multi-year position rather than a tactical rotation. Because Greenhaven operates as a traditional long-only manager with minimal use of derivatives or short positions, the 13F is an unusually reliable window into the actual book — lag and omission distortions are limited. The latticework backtest showing near-zero excess returns versus SPY over twelve years is worth noting: sector concentration of this kind tends to produce long stretches of tracking-error pain punctuated by sharp outperformance, and aggregate annualized figures can obscure that pattern entirely.
2026Q2 brief
Greenhaven Associates' $8.66B portfolio underwent a notable thematic pivot in Q2 2026, with the firm initiating a healthcare services cluster alongside its entrenched homebuilder core. BDX debuted as the fourth-largest holding at 9.9% (~$860M), while ACN, IQV, and EPAM were added fresh, and ICLR was aggressively built up +55% to 6.2%—together these four new/expanded positions suggest a deliberate rotation into CRO/medtech/IT services. Homebuilders remain the spine of the book: LEN (11.8%), TOL (10.7%), PHM (8.6%), and DHI (6.6%) collectively anchor roughly 38% of AUM, a consensus long among super-investors but unusually concentrated here. The exit of STLA and trim of JPM to a rounding error signal a clean break from financials and overseas autos. The oddity is DNOW, a small oilfield distributor, surging +427% to just 0.65%—a speculative toe-dip worth monitoring. Watch the next filing to see whether the healthcare services cluster (BDX/ICLR/IQV) grows into a second pillar rivaling homebuilders, or whether it's trimmed after any sector re-rating.
AI-generated. Not investment advice.
Filing history
Greenhaven Associates's disclosed 13F portfolio value and position count by quarter — the trajectory across every SEC filing.
| Quarter | Positions | Portfolio value |
|---|---|---|
| Q2 2026 — what changed → | 28 | $8.66B |
| Q1 2026 — what changed → | 27 | $6.07B |
| Q4 2025 — what changed → | 30 | $6.17B |
| Q3 2025 — what changed → | 27 | $6.58B |
| Q2 2025 — what changed → | 25 | $6.72B |
| Q1 2025 — what changed → | 26 | $6.29B |
| Q4 2024 holdings | 24 | $6.76B |
| Q3 2024 holdings | 24 | $8.53B |
| Q2 2024 holdings | 25 | $7.61B |
| Q1 2024 holdings | 27 | $10.86B |
| Q4 2023 holdings | 27 | $9.38B |
| Q3 2023 holdings | 29 | $7.71B |
Values as disclosed at each quarter end. Older filings on EDGAR.
Manager evidence
1 material decisions, preserved in sequence.
See what Greenhaven Associates bought, added, trimmed, or exited across eight quarters—plus disclosure lag, SEC sources, and observed outcomes versus SPY. No guru grade.
Open Greenhaven Associates's decision evidence →Frequently asked questions
- What stocks does Greenhaven Associates own?
- As of 2026Q2, Greenhaven Associates's 13F discloses 28 positions worth $8.66B. The top five holdings: LEN (11.8%), TOL (10.7%), BDX (9.9%), PHM (8.6%). 13F filings cover long US-listed equities only — cash, bonds, shorts, and non-US positions are not disclosed.
- What did Greenhaven Associates buy this quarter?
- In 2026Q2, the filing shows 4 new positions and 2 additions to existing holdings. The largest positions touched by buying: BDX, ICLR, ACN, IQV, DNOW.
- How big is Greenhaven Associates's portfolio?
- $8.66B across 28 positions per the latest 13F (filed Jul 28, 2026). The top five holdings account for 53% of the disclosed book.
Similar portfolios
Long US equity 13F-HR filings only — no shorts, no derivatives. SEC filings at EDGAR (CIK 0000846222). Not investment advice.