- Jeremey Grantham’s 13F portfolio value increased from $14.21B to $14.41B this quarter.
- GMO Capital increased Alibaba Group Holdings (BABA) while decreasing Fiat Chrysler (FCAU) and Glaxosmithkline (GSK) during the quarter.
- The largest three individual stock positions are Alphabet Inc. (GOOG), Microsoft Corporation (MSFT), and Apple (AAPL) and they add up to ~12% of the portfolio.
Jeremey Grantham’s 13F portfolio value increased marginally
from $14.21B to $14.41B this quarter. The portfolio is diversified with recent
13F reports showing well over 500 different positions. The largest five stakes
are Alphabet Inc. (GOOG), Microsoft Corporation (MSFT), Apple (AAPL), Oracle
Corporation (ORCL), and Medtronic (MDT) and they add up to ~17% 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% in Q1 2019 and is now a 1.48% of the
portfolio stake.
Below is a spreadsheet that shows the changes to Jeremey
Grantham's GMO Capital 13F portfolio holdings as of Q3 2019. For a look at how the
portfolio has progressed, see our previous update:
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