13F filing recap · Q4 2014

What did Greenhaven Associates buy in Q4 2014?

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

Stock value

$5.56B

Positions

Estimated turnover

32.4%

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

JPMJPMorgan Chase & Co$464.58Mreported value+7.42M shares ARGAirgas Inc$138.05Mreported value+1.20M shares DHID.r. Horton, Inc.$51.45Mreported value+2.03M shares WFCWells Fargo & Company/mn$24.97Mreported value+455.5K shares USGUsg Corporation$11.29Mreported value+403.2K shares

Increased positions

UPSUnited Parcel Service, Inc$576.22Mreported value+59.0K shares+1.2%GSThe Goldman Sachs Group, Inc.$547.17Mreported value+169.3K shares+6.4%WHRWhirlpool Corp /de/$477.37Mreported value+14.2K shares+0.6%SLBSlb Limited/nv$356.93Mreported value+495.2K shares

Reduced positions

FDXFedex Corporation$790.90Mreported value-65 shares-0.0%LOWLowe’s Companies, Inc.$774.11Mreported value-43.5K shares-0.4%MMM3m Company$364.22Mreported value-528.3K shares-19.2%PXPraxair, Inc.$174.16Mreported value-279.1K shares

Exited positions

LUVSouthwest Airlines Co.$138.56Mprior reported value-4.10M shares-100.0%RHJIRhj International SA (bhf Kleinwort Benson Group)$1.04Mprior reported value-209.5K shares-100.0%TELTe Connectivity Plc$541.0Kprior reported value-9.8K shares-100.0%PAAPlains All American Pipeline LP$424.0Kprior reported value