Greenhaven Associates, managed by Edgar Wachenheim, recently disclosed its equity portfolio, worth $5.2 billion, for the third quarter of 2014. A new filing with the U.S. Securities and Exchange Commission revealed that the fund has strong focus on Transport and Energy stocks during the third quarter. In this article, we will discuss top three bullish moves of the fund in the third quarter. We will talk about Lowe’s Companies Inc. (NYSE:LOW), United Parcel Service Inc. (NYSE:UPS), and Goldman Sachs Group Inc (NYSE:GS).
On the top position is Lowe’s Companies Inc. (NYSE:LOW), in which Greenhaven Associates added more shares during the third quarter, bringing its total stake to around 11.30 million shares, worth $597.7 million. The stake represents an increase from around 11.29 million shares reported previously.
Other institutional investor holding stakes in Lowe’s Companies Inc. (NYSE:LOW) include Andreas Halvorsen’s Viking Global and Iridian Asset Management, led by David Cohen and Harold Levy. These investor disclosed owning 22.91 million shares and 6.69 million shares, respectively.
United Parcel Service Inc. (NYSE:UPS) occupies second spot. The package delivery company, with a market cap of more than $90 billion, saw Greenhaven Associates upped its stake to 5.12 million shares from 4.70 million shares held previously.
SQ Advisors, managed by Lou Simpson, is also a fan of United Parcel Service Inc. (NYSE:UPS), owning 2.63 million shares. Another investor, Renaissance Technologies, led by Jim Simons, reported ownership of 2.49 million shares of the company.
Third bullish move by Greenhaven Associates during the third quarter was Goldman Sachs Group Inc (NYSE:GS), in which the fund raised its stake to 2.65 million shares, worth over $480 million, from 2.15 million shares reported earlier.
Aside from Greenhaven Associates, T2 Partners, run by Whitney Tilson, owns 15,789 shares of Goldman Sachs Group Inc (NYSE:GS), and Tegean Capital Management, managed by Thomas G. Maheras, holds 90,000 shares of the company, according to our record.
Edgar Wachenheim purchased Greenhaven Associates in 1998 from the Gottesman family. Edgar Wachenheim is a value investor, and manages a fairly small-scale operation at Greenhaven Associates considering the size of its assets under management: billions of dollars are capital are invested through the fund, but because of its long-term investing horizon and its tendency towards a concentrated portfolio only a small number of analysts are needed.
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