- Jeremey Grantham’s 13F portfolio value increased from $12.52B to $13.90B this quarter.
- GMO Capital decreased Alphabet (GOOG) and United Technologies (UTX) during the quarter.
- 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 increased ~11% from $12.52B
to $13.90B 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 3M (MMM) and they add up to ~19% of the portfolio.
Note: In January 2018, Jeremey Grantham predicted the market
to be in a melt-up (S&P 3400 to 3800 in short order). At the time, he thought
emerging markets were a safe bet. As a secondary recommendation, EAFE equities
were suggested. Consistent with that call, he increased the iShares MSCI
Emerging Market ETF (EEM) allocation to a 3.11% portfolio stake thru Q3 2018. That
quarter saw the position reduced by ~80% to a small 0.72% portfolio stake. The
position was increased by ~80% this quarter and is now a 1.32% of the portfolio
stake.
Below is a spreadsheet that shows the changes to Jeremey
Grantham's GMO Capital 13F portfolio holdings as of Q1 2019. For a look at how the
portfolio has progressed, see our previous update:
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