13F filing recap · Q3 2014

What did Greenhaven Associates buy in Q3 2014?

Reported stock-position changes between this filing and the previous one.

Stock value

$5.20B

Positions

Estimated turnover

20.0%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

New positions

CCitigroup Inc$207.40Mreported value+4.00M shares MASMasco Corporation$13.40Mreported value+560.4K shares UNPUnion Pacific Corp$217.0Kreported value+2.0K shares

Increased positions

LOWLowe’s Companies, Inc.$597.74Mreported value+7.7K shares+0.1%UPSUnited Parcel Service, Inc$503.66Mreported value+424.2K shares+9.0%GSThe Goldman Sachs Group, Inc.$487.13Mreported value+500.8K shares+23.3%MMM3m Company$388.89Mreported value+47.3K shares

Reduced positions

FDXFedex Corporation$735.31Mreported value-2.2K shares-0.0%BKRBaker Hughes Co$596.79Mreported value-180.0K shares-1.9%DVNDevon Energy Corp/de$161.59Mreported value-612.9K shares-20.5%SPNSuperior Energy Services Inc$147.05Mreported value-13.2K shares

Exited positions

AVTAvnet, Inc.$32.43Mprior reported value-731.8K shares-100.0%ARWArrow Electronics, Inc.$25.68Mprior reported value-425.1K shares-100.0%STTState Street Corporation$255.0Kprior reported value-3.8K shares-100.0%