Chieftain's Glenn Greenberg: Buys, Sells, Portfolio

by: Glenn Greenberg

Glenn Greenberg, together with partner John Shapiro, founded Chieftain Capital Management in 1984. Greenberg runs a concentrated portfolio and invests personally, alongside his clients, in the same portfolio. Greenberg looks for companies with zero or few competitors and maintains that industries with gradual (rather than steep) growth attract less competition. His emphasis on return on invested capital [ROIC], as well as profit margins, have allowed the initial fund to grow from $40 million to $4 billion.

The latest SEC 13f filing shows only one increase in UnitedHealth Group (NYSE:UNH) and one reduction in Comcast (CMCSK). Data from quarter ending 12/31/2006; filed 2/14/2007.

Recent buys for Chieftain Capital Management:

  • UnitedHealth Group (UNH): bought 1.98 million shares = 4.2% of overall stock holdings

Recent sells for Chieftain Capital Management:

  • Comcast (CMCSK): sold 8.6 million shares = 4% of overall stock holdings

Chieftain Capital Management Portfolio as of 12/31/2006:

  • Comcast (CMCSK): 31.9 million shares; 33.2% of overall stock holdings
  • UnitedHealth Group (UNH): 16.5 million shares; 22% of overall stock holdings
  • Laboratory Corp of America H0ldings (NYSE:LH): 7.4 million shares; 13.5% of overall stock holdings
  • American Tower Corp (NYSE:AMT): 14 million shares;13.8% of overall stock holdings
  • American Standard Companies (ASD): 5.9 million shares; 6.8% of overall stock holdings
  • CrossTex Energy (XTXI): 8.4 million shares; 6.6% of overall stock holdings
  • CrossTex Energy LP (XTEX): 386 thousand shares; .4% of overall stock holdings
  • Nike (NYSE:NKE): 3.6 million shares; 4.4% of overall stock holdings

Total Holdings: $4 billion

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