GREENHAVEN ASSOCIATES INC
"13F equity value" = market value of this filer's US-listed long equity positions only. It excludes cash, bonds, non-US and short positions, so it understates a fund's true assets under management — often by a lot.
13F holdings are disclosed ~45 days after quarter-end, and they never reveal when within the quarter a fund actually bought. So any 13F-based summary is structurally late and blurred — this applies to every fund, including this one.
We backtested copying it anyway. Buying this fund's new positions the day each filing went public, over 20 quarters, returned +0.5% per quarter — versus +4.7% per quarter from simply owning every 13F stock. It beat that baseline in only 45.0% of quarters (excess t = -1.93, not statistically significant). Its filings tell you what it bought — not what you should buy.
Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)
Top 20 holdings of 27 · 2026 Q1
| Ticker | Value | Weight | QoQ |
|---|---|---|---|
| LEN | $923M | | ADD |
| TOL | $770M | | HOLD |
| PHM | $647M | | HOLD |
| DHI | $476M | | HOLD |
| OSK | $373M | | HOLD |
| ARW | $272M | | HOLD |
| AVT | $242M | | HOLD |
| BAX | $240M | | ADD |
| SLB | $240M | | HOLD |
| ICLR | $222M | | ADD |
| LEA | $206M | | TRIM |
| AVTR | $177M | | ADD |
| NOV | $108M | | HOLD |
| VBIL | $91M | | ADD |
| MTH | $90M | | HOLD |
| LEN/B | $31M | | HOLD |
| TMHC | $16M | | ADD |
| DNOW | $10M | | NEW |
| CRH | $2M | | TRIM |
| A | $1M | | HOLD |
QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.
New positions in 2026 Q1
Method & Limitations
Method: a "new position" = held this quarter, absent last quarter (options excluded; stocks with <50 prior holders excluded to filter spin-off artifacts). Entry 47 days after quarter-end — the first day the public could act on the filing. Benchmark = equal-weighted universe of all 13F-held stocks. Limitations: quarterly snapshots can't see intra-quarter trades; survivorship bias — funds that shut down are absent, which flatters the sample. Statistics, not advice.