Grantham's Q3 Moves Reflect Strategic Shifts Amid Market Dynamics
Jeremy Grantham (Trades, Portfolio), the seasoned investment strategist and co-founder of Grantham Mayo van Otterloo (GMO) LLC, has made notable changes to his investment portfolio in the third quarter of 2023. Known for his expertise in identifying market bubbles and his cautious approach to investing, Grantham's latest 13F filing reveals a series of strategic buys, sells, and adjustments reflective of his ongoing analysis of market conditions.
New Additions to Grantham's Portfolio
Jeremy Grantham (Trades, Portfolio)'s recent acquisitions include a diverse set of stocks, with the most significant new positions being:
- Lifezone Metals Ltd (LZM, Financial), with 2,547,900 shares, making up 0.15% of the portfolio and valued at $31.26 million.
- New Relic Inc (NEWR, Financial), comprising 254,393 shares, which account for roughly 0.1% of the portfolio, totaling $21.78 million.
- Abcam PLC (ABCM, Financial), with 749,290 shares, representing 0.08% of the portfolio and a value of $16.96 million.
Significant Increases in Existing Holdings
In addition to new purchases, Grantham has upped his stakes in several companies:
- Novartis AG (NVS, Financial) saw an addition of 1,144,307 shares, bringing the total to 1,827,263 shares. This represents a 167.55% increase in shares and a 0.52% impact on the current portfolio, valued at $175.21 million.
- SolarEdge Technologies Inc (SEDG, Financial) had an additional 778,034 shares, resulting in a total of 1,495,069 shares. This adjustment marks a 108.51% increase in shares, with a total value of $193.63 million.
Complete Exits from Certain Holdings
The third quarter also saw Grantham exit positions entirely in several companies:
- PDC Energy Inc (PDCE, Financial), where all 525,267 shares were sold, impacting the portfolio by -0.17%.
- Triton International Ltd (TRTN, Financial), with a complete sell-off of 439,839 shares, also resulting in a -0.17% portfolio impact.
Noteworthy Reductions in Portfolio Positions
Grantham's portfolio adjustments included reductions in several key stocks:
- Meta Platforms Inc (META, Financial) was reduced by 563,998 shares, a -22.98% decrease, affecting the portfolio by -0.75%. The stock's average trading price was $301.3 during the quarter, with a 9.52% return over the past three months and a 174.51% year-to-date return.
- Eli Lilly and Co (LLY, Financial) saw a reduction of 156,780 shares, a -19.21% decrease, impacting the portfolio by -0.34%. The stock traded at an average price of $515.29 during the quarter, returning 16.02% over the past three months and 68.51% year-to-date.
Overview of Grantham's Current Portfolio
As of the third quarter of 2023, Jeremy Grantham (Trades, Portfolio)'s portfolio is composed of 573 stocks. The top holdings include 4.34% in Microsoft Corp (MSFT, Financial), 3.66% in UnitedHealth Group Inc (UNH, Financial), 2.78% in Alphabet Inc (GOOGL, Financial), 2.76% in Johnson & Johnson (JNJ, Financial), and 2.68% in Meta Platforms Inc (META). The investments span across all 11 industries, with a focus on Technology, Healthcare, Financial Services, Consumer Cyclical, and Communication Services, among others.
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.
