13F filing recap · Q3 2018

What did Brave Warrior Advisors buy in Q3 2018?

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

Stock value

$2.35B

Positions

Estimated turnover

45.1%

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

RJFRaymond James Financial Inc$190.96Mreported value+2.07M shares LENLennar Corp /new/$103.43Mreported value+2.22M shares CCitigroup Inc$99.55Mreported value+1.39M shares DHID.r. Horton, Inc.$33.59Mreported value+796.4K shares GOOGAlphabet Inc.$1.26Mreported value+1.1K shares MCOMoody’s Corporation$848.0Kreported value+5.1K shares

Increased positions

BFHBread Financial Holdings, Inc.$409.15Mreported value+1.6K shares+0.1%SCHWSchwab Charles Corp$287.00Mreported value+711 shares+0.0%JPMJPMorgan Chase & Co$201.96Mreported value+3.3K shares+0.2%ARAntero Resources Corporation$197.26Mreported value+226.5K shares

Reduced positions

GOOGLAlphabet Inc.$364.07Mreported value-5.8K shares-1.9%LBTYKLiberty Global Ltd.$194.39Mreported value-1.82M shares-20.9%PRIPrimerica, Inc.$175.06Mreported value-125.7K shares-8.0%NLSNNielsen Holdings Plc$80.20Mreported value-3.63M shares

Exited positions

ESRXExpress Scripts Holding Co$96.48Mprior reported value-1.25M shares-100.0%