Greenhaven Associates Inc.'s Q4 2022 and Q1 2023 13F Holdings: An Analysis of its Investment Strategy.

Greenhaven Associates Inc. is widely known for its investment prowess and has recently released its Q4 2022 and Q1 2023 13F holdings. As investors focus on this information, it is important to note that the CSV that summarizes the changes in holdings of this fund are subject to interpretation and analysis. With that said, let us take a closer look at the changes in holdings of Greenhaven Associates Inc. and what these changes indicate about the fund's investment strategy.

Before we begin, let us define 13F holdings. 13F is a form that must be filed by investment managers who manage more than $100 million in 13F securities. These include exchange-traded options, equity securities of publicly-traded companies, and shares of closed-end investment companies. Therefore, Greenhaven Associates Inc. is required to file its quarterly 13F holdings, which we shall analyze.

Lennar Corporation - A (LEN)

The first stock in the CSV is Lennar Corporation - A (LEN), which had a decrease of 161,877 shares or 1.74% in the first quarter of 2023 compared to the fourth quarter of 2022. The value of the shares increased by $118,231, marking a 14.1% increase. The decrease in the number of shares held by the fund might indicate a sell-off by Greenhaven Associates. However, the increase in the value of shares held could suggest that the fund believes that Lennar Corporation - A will experience increased profitability in the future.

General Motors Co (GM)

The CSV shows that Greenhaven Associates Inc. increased its holdings of General Motors Co (GM) by 49.2% in the first quarter of 2023. The increase amounted to 4943109 shares held, which resulted in an increase of $227,883 in the value of the shares, marking a 44.2% increase. General Motors is a well-known automobile manufacturer, and its stock price is generally reflective of the overall health of the global automotive industry. This investment strategy could signify a positive outlook on the automotive industry by the fund.

Goldman Sachs (GS)

Greenhaven Associates Inc. marginally increased its holdings of Goldman Sachs (GS) by 0.2% in the first quarter of 2023. The increase amounted to 43922 shares, but the value of the stock decreased by $21,116, marking a 2.8% decrease. The decrease in the stock's value could indicate a pessimistic outlook on this financial stock. The minimal increase in shares held might suggest that the fund had confidence that the stock will eventually recover.

J P Morgan Chase (JPM)

Greenhaven Associates Inc. slightly decreased its holdings of J P Morgan Chase (JPM) by 57,000 shares or 1.2% in the first quarter of 2023 compared to Q4 2022. The decrease resulted in a reduction of $25,604, marking a 4% decrease in the value of the shares. J P Morgan Chase is one of the largest banks in the world and a popular holding for many funds. The decrease in the stock's value might indicate that the fund thinks the stock is overvalued or has limited growth potential, resulting in a sell-off.

Citigroup Inc (C)

Greenhaven Associates Inc. significantly increased its holdings of Citigroup (C) by 2,396,160 shares or 31.2% in the first quarter of 2023 compared to Q4 2022. The increase resulted in an increase of $125,249, marking a 36% increase in the value of the shares. Citigroup Inc. is a multinational financial company and is among the largest issuers of credit cards globally. The fund's decision to increase its holdings of Citigroup Inc. might indicate a belief that the company has increased its earnings potential, given the global economic outlook.

Westrock CO (WRK)

Greenhaven Associates Inc. increased its holdings of Westrock CO (WRK) by 27.4% in the first quarter of 2023. The fund increased its holdings by 2752,196 shares, resulting in a $37,267 increase in the value of the shares, marking a 10.7% increase. Westrock is a multinational paper company and a significant supplier of paper products globally. The fund's decision to increase its holdings in Westrock implies an optimistic outlook for the company and the global paper industry.

Conclusion

The 13F holdings are a reflection of Greenhaven Associates Inc.'s investment strategy in Q4 2022 and Q1 2023. The analysis of this CSV suggests that the fund increased its holdings in companies such as Citigroup Inc. and General Motors, indicating its faith in the global economy's recovery. On the other hand, the fund reduced its holdings in companies such as J P Morgan and Goldman Sachs, indicating its pessimism about the future prospects of these companies.

It is essential to note that the analysis of this CSV is subject to interpretation and could mean different things to different investors. Nonetheless, the information contained in the 13F holdings is valuable, given that it provides insights into the purchases and sells of a renowned investment management firm.