EW
Ed Wachenheim
Greenhaven Associates
- Portfolio value
- $8,660,705,519
- Stocks
- 28
- Period
- Q2 2026
- Filed
- 28 Jul 2026
Long-only concentrated value with a multi-year holding horizon.
✦
Cut Vanguard 0-3M T-Bill Etf 44.7%, added 427% to Dnow Inc and opened 3 new positions, the largest BDX at 9.9%. Consumer Cyclical is still the biggest weight in the book at 41.3%. The top five names are 53% of it.
Sector exposure
Consumer Cyclical
41.3%
Unknown
25.7%
Healthcare
17.9%
Technology
8.8%
Industrials
5.2%
Energy
1.2%
Financial Services
0.0%
Concentration
11.8%Largest, LEN
53%Top 5
79%Top 10
7Positions over 5%
10Under 1%, 2% of the book
Portfolio return
Time-weighted · held at window start
By position
By sector
| Stock | % Portfolio | Recent Activity | Shares | Reported Price | Value | |
|---|---|---|---|---|---|---|
| LEN — Lennar Corp-A | 11.82% | Add 6.43% | 11,316,279 | $90.49 | $1,024,010,087 | ↗ ◎ |
| General Motors Co (GM) | 11.46% | 12,873,506 | $77.08 | $992,289,842 | ||
| TOL — Toll Brothers Inc | 10.71% | Reduce 0.27% | 5,630,109 | $164.75 | $927,560,458 | ↗ ◎ |
| BDX — Becton Dickinson And Co | 9.93% | New | 5,681,708 | $151.33 | $859,812,872 | ↗ ◎ |
| PHM — Pultegroup Inc | 8.64% | Reduce 0.75% | 5,455,949 | $137.21 | $748,610,762 | ↗ ◎ |
| DHI — Dr Horton Inc | 6.59% | Add 1.12% | 3,505,800 | $162.88 | $571,024,704 | ↗ ◎ |
| ICLR — Icon Plc | 6.22% | Add 54.84% | 3,100,615 | $173.71 | $538,607,832 | ↗ ◎ |
| Accenture Plc (ACN) | 4.86% | 3,384,681 | $124.44 | $421,189,704 | ||
| OSK — Oshkosh Corp | 4.53% | Add 1.09% | 2,558,680 | $153.48 | $392,706,206 | ↗ ◎ |
| ARW — Arrow Electronics Inc | 4.35% | Reduce 6.95% | 1,764,153 | $213.41 | $376,487,892 | ↗ ◎ |
| AVT — Avnet Inc | 3.87% | Reduce 3.77% | 3,772,861 | $88.82 | $335,105,514 | ↗ ◎ |
| BAX — Baxter International Inc | 3.52% | Reduce 0.16% | 14,285,228 | $21.32 | $304,561,061 | ↗ ◎ |
| AVTR — Avantor Inc | 2.82% | Add 9.04% | 24,637,310 | $9.90 | $243,909,369 | ↗ ◎ |
| LEA — Lear Corp | 2.25% | Reduce 14.22% | 1,455,933 | $134.06 | $195,182,378 | ↗ ◎ |
| SLB Ltd (SLB) | 2.04% | 3,802,344 | $46.49 | $176,770,973 | ||
| IQV — Iqvia Holdings Inc | 1.71% | New | 768,045 | $193.22 | $148,401,655 | ↗ ◎ |
| MTH — Meritage Homes Corp | 1.26% | Reduce 10.82% | 1,297,494 | $83.85 | $108,794,872 | ↗ ◎ |
| NOV — Nov Inc | 1.20% | Reduce 2.28% | 5,620,019 | $18.55 | $104,251,352 | ↗ ◎ |
| DNOW — Dnow Inc | 0.65% | Add 426.83% | 4,343,617 | $12.97 | $56,336,712 | ↗ ◎ |
| VBIL — Vanguard 0-3m T-Bill Etf | 0.58% | Reduce 44.67% | 662,000 | $75.68 | $50,100,160 | ↗ ◎ |
| EPAM — Epam Systems Inc | 0.54% | New | 587,300 | $79.35 | $46,602,255 | ↗ ◎ |
| LEN/B — Lennar Corp - B Shs | 0.37% | 364,059 | $88.71 | $32,295,674 | ↗ ◎ | |
| CRH Plc (CRH) | 0.02% | 17,500 | $107.00 | $1,872,500 | ||
| A — Agilent Technologies Inc | 0.02% | 10,700 | $132.83 | $1,421,281 | ↗ ◎ | |
| SCHW — Schwab (Charles) Corp | 0.01% | 12,500 | $92.27 | $1,153,375 | ↗ ◎ | |
| JPM — Jpmorgan Chase & Co | 0.01% | Reduce 37.50% | 2,500 | $327.33 | $818,325 | ↗ ◎ |
| UNP — Union Pacific Corp | 0.01% | 2,032 | $272.00 | $552,704 | ↗ ◎ | |
| G — Genpact Ltd | 0.00% | 10,000 | $27.50 | $275,000 | ↗ ◎ |