Private Management Group portfolio

What changed this quarter

200 positions with a change (8 new, 77 added to, 101 trimmed, 14 sold). 9 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Organon−80%fewer sharesReduced
  1.3% → 0.3%
• Valero Energy−48%fewer sharesReduced
  1.4% → 1.2%
• Warner Bros. Discovery−0.9 ppof portfolioSold out
  0.9% → —
• Fiserv+0.9 ppof portfolioNew
  — → 0.9%
• Rayonier+0.8 ppof portfolioNew
  — → 0.9%
• Brookfield Infrastructure+575%more sharesIncreased
  0.1% → 1.0%
• Aptiv+0.8 ppof portfolioNew
  — → 0.8%
• Huntsman+0.7 ppof portfolioNew
  — → 0.8%
• Centene−98%fewer sharesReduced
  0.7% → under 0.1%

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• Berkshire HathawayBRK/B · BRK/A2.7%
• SiriuspointSPNT1.8%
• Americold Realty TrustCOLD1.5%
• Global PaymentsGPN1.4%
• Goldman Sachs BDCGSBD1.4%
• Oaktree Specialty LendingOCSL1.3%
• State StreetSTT1.3%
• LKQLKQ1.3%
• Vornado Realty TrustVNO1.3%
• Keurig Dr PepperKDP1.3%
• Prospect CapitalPSEC1.3%
• Blue OWL CapitalOBDC1.2%
• Carlyle GroupCG1.2%
• Valero EnergyVLO1.2%
• Global Net LeaseGNL1.2%
• Barings BDCBBDC1.2%
• Park Hotels & ResortsPK1.2%
• Bank of New York MellonBNY1.1%
• NICENICE1.1%
• PBF EnergyPBF1.1%
• Sonoco ProductsSON1.1%
• Darling IngredientsDAR1.1%
• UGIUGI1.1%
• ComcastCMCSA1.1%
• Verizon CommunicationsVZ1.1%
• AvantorAVTR1.1%
• Albertsons CompaniesACI1.1%
• BGC GroupBGC1.0%
• Rush EnterprisesRUSHB · RUSHA1.0%
• Flagstar Bank, National AssociationFLG1.0%
• Brookfield InfrastructureBIPC1.0%
• JPMorgan ChaseJPM1.0%
• Piedmont Realty TrustPDM1.0%
• Jefferies Financial GroupJEF1.0%
• Cannae HoldingsCNNE1.0%
• Algonquin Power & UtilitiesAQN0.9%
• Prosperity BancsharesPB0.9%
• Shift4 PaymentsFOUR0.9%
• EnovisENOV0.9%
• FiservFISV0.9%
• RayonierRYN0.9%
• Brookfield BusinessBBUC0.9%
• UMH PropertiesUMH0.9%
• Federal Realty Investment TrustFRT0.9%
• AmbevABEV0.9%
• Park-Ohio HoldingsPKOH0.8%
• DiageoDEO0.8%
• NCR VoyixVYX0.8%
• AptivAPTV0.8%
• JBG Smith PropertiesJBGS0.8%
• Five Point HoldingsFPH0.8%
• HuntsmanHUN0.8%
• Sirius XM HoldingsSIRI0.8%
• MetLifeMET0.7%
• BrookfieldBN0.7%
• California ResourcesCRC0.7%
• Pinnacle Financial PartnersPNFP0.7%
• SeaboardSEB0.7%
• Dentsply SironaXRAY0.7%
• Henry ScheinHSIC0.7%
• Penske Automotive GroupPAG0.7%
• Crown HoldingsCCK0.7%
• Arcos Dorados HoldingsARCO0.7%
• Hamilton Insurance GroupHG0.7%
• Brightspire CapitalBRSP0.7%
• QuidelorthoQDEL0.7%
• Greenlight Capital REGLRE0.6%
• Repay HoldingsRPAY0.6%
• VontierVNT0.6%
• O-i GlassOI0.6%
• Alibaba Group HoldingBABA0.6%
• AutonationAN0.6%
• Kelly ServicesKELYA0.6%
• Advance Auto PartsAAP0.6%
• SprinklrCXM0.6%
• Lamar AdvertisingLAMR0.6%
• Realty IncomeO0.6%
• W. P. CareyWPC0.6%
• Sun CommunitiesSUI0.5%
• Ardmore ShippingASC0.5%
• PowerfleetAIOT0.5%
• Forward AirFWRD0.5%
• Graphic Packaging HoldingGPK0.5%
• Ardagh Metal PackagingAMBP0.5%
• American Assets TrustAAT0.5%
• PaysafePSFE0.5%
• Teva Pharmaceutical-spTEVA0.4%
• Marathon PetroleumMPC0.4%
• Sierra BancorpBSRR0.4%
• AerSaleASLE0.4%
• Tenet HealthcareTHC0.4%
• Driven Brands HoldingsDRVN0.4%
• Liberty GlobalLBTYK0.4%
• Scorpio TankersSTNG0.4%
• Johnson & JohnsonJNJ0.4%
• Molson Coors BeverageTAP0.4%
• AppleAAPL0.4%
• BrightView HoldingsBV0.4%