Tracking Jeremey Grantham’s GMO Capital Portfolio – Q1 2018 Update

• Jeremey Grantham’s 13F portfolio value decreased from $16.95B to $16.35B this quarter.
• GMO Capital reduced Microsoft while increasing US Bancorp.  
• The largest three individual stock positions are Alphabet Inc., Apple, and Microsoft Corporation and they add up to ~13% of the portfolio.

Jeremey Grantham’s 13F portfolio value decreased ~4% from $16.95B to $16.35B this quarter. The portfolio is diversified with recent 13F reports showing well over 500 different positions. The largest five stakes are Alphabet Inc. (GOOG), Apple Inc. (AAPL), Microsoft Corporation (MSFT), Oracle Corporation (ORCL), and Johnson & Johnson (JNJ) and they add up to ~21% of the portfolio.

Note: In a Jan 2018 WelathTrack interview, Jeremey Grantham predicted the market to be in a melt-up (S&P 3400 to 3800 in short order) – thinks emerging markets is a safe bet. He also said they have a small hedge in FAANG like stocks which they will get out of when S&P gets to that range. As a secondary recommendation, EAFE equities was suggested.

Below is a spreadsheet that shows the changes to Jeremey Grantham's GMO Capital US long portfolio holdings as of Q1 2018. For a look at how the portfolio has progressed, see our previous update:

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