Insight into Grantham's Strategic Moves in Q3 2024
Jeremy Grantham (Trades, Portfolio), the Chairman of the Board at Grantham Mayo van Otterloo (GMO) LLC, has long been recognized for his acute market predictions and strategic investment choices. Known for his early identification of market "bubbles," Grantham's latest 13F filing for the third quarter of 2024 reveals significant adjustments in his portfolio, including a notable increase in Visa Inc shares.
New Additions to Grantham's Portfolio
Jeremy Grantham (Trades, Portfolio)'s recent acquisitions include 94 new stocks. Key additions are:
- Avangrid Inc (AGR, Financial) with 986,025 shares, making up 0.11% of the portfolio, valued at $35.29 million.
- Installed Building Products Inc (IBP, Financial), holding 127,385 shares, which represent 0.1% of the portfolio, with a total value of $31.37 million.
- Air Products & Chemicals Inc (APD, Financial) with 93,571 shares, accounting for 0.09% of the portfolio, valued at $27.86 million.
Significant Increases in Existing Positions
Grantham has also upped his stakes in several existing investments, notably:
- Visa Inc (V, Financial), with an additional 1,162,043 shares, bringing the total to 2,921,220 shares. This adjustment marks a 66.06% increase in share count and a 1% impact on the current portfolio, totaling $803.19 million.
- Hilton Worldwide Holdings Inc (HLT, Financial), with an additional 850,856 shares, bringing the total to 1,632,472 shares. This represents a 108.86% increase in share count, valued at $376.28 million.
Positions Completely Sold Out
During the third quarter of 2024, Jeremy Grantham (Trades, Portfolio) exited 60 positions, including:
- TopBuild Corp (BLD, Financial), where all 65,034 shares were sold, impacting the portfolio by -0.08%.
- Sensata Technologies Holding PLC (ST, Financial), with all 551,861 shares liquidated, causing a -0.07% impact on the portfolio.
Key Reductions in Portfolio Holdings
Grantham reduced his positions in several stocks, with significant cuts in:
- American Express Co (AXP, Financial) by 1,163,929 shares, resulting in a -92.2% decrease and a -0.91% portfolio impact. The stock traded at an average price of $249 during the quarter.
- GE Aerospace (GE, Financial) by 1,376,853 shares, marking a -75.95% reduction and a -0.74% impact on the portfolio. The stock's average trading price was $169.43 during the quarter.
Overview of Grantham's Current Portfolio
As of the third quarter of 2024, Jeremy Grantham (Trades, Portfolio)'s portfolio encompasses 559 stocks. The top holdings include 5.4% in Microsoft Corp (MSFT, Financial), 4.63% in Apple Inc (AAPL, Financial), 4.21% in Meta Platforms Inc (META, Financial), 3.81% in Alphabet Inc (GOOGL, Financial), and 3.21% in Oracle Corp (ORCL, Financial). The investments are predominantly concentrated across 11 industries, reflecting a diverse and strategic allocation.
This strategic reshuffling by Jeremy Grantham (Trades, Portfolio) highlights his ongoing commitment to optimizing portfolio performance by adapting to changing market conditions, with a significant emphasis on growth potential in the technology and hospitality sectors.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
