Date updated:05-20-2007
Sold out of: ASD
Top increased positions: RYAAY
Top decreased positions: AMT
Glenn Greenberg co-founded Chieftain Capital Management in 1984. This investment management company (Glenn Greenberg and John Shapiro are the two partners) normally owns 7 to 10 companies which Greenberg calls his "defense against ignorance". He believes the more companies you own the more difficult it is to understand all of them. His approach has worked. From 1984 through 2004 the fund achieved a 22% compounded annual growth rate. This favorably compares to the 13% return the S&P 500 achieved.
Columbia University professor Bruce Greenwald who teaches the value investing course at Columbia and also authored "Value Investing: From Graham to Buffett and Beyond" said in a Motley Fool article “There's a guy called Glenn Greenberg who absolutely says he's not a value investor and is just about the best value investor out there -- I don't know if you know him…So Glenn does seven to 10 companies, but he really understands the economics. He's just a brilliant, sort of natural industry economist. And he's just naturally good at judging these franchises, almost unconsciously so. And I think that's the thing I would find most impressive…. I think Glenn Greenberg has it.”
As of 3/31/07

-
CMCSK
Comcast Cl A Spcl - $15.21
- -6.17%
- $15.61
37.49% of portfolio

-
UNH
Unitedhealth Grou - $17.35
- -2.53%
- $16.63
18.87% of portfolio

-
LH
Laboratory Corp N - $54.34
- -3.40%
- $54.87
14.8% of portfolio

-
RYAAY
Ryanair Hldgs Adr - $16.99
- +6.05%
- $15.75
11.74% of portfolio Increased position 355.6%

-
XTXI
Crosstex Energy I - $9.82
- -3.35%
- $9.61
6.18% of portfolio

-
AMT
Amer Tower Cp - $29.60
- -3.93%
- $29.44
5.59% of portfolio Decreased position 61.7%

-
NKE
Nike Inc Cl B - $54.53
- +2.73%
- $50.34
4.95% of portfolio

-
XTEX
Crosstex Energy L - $10.33
- -3.46%
- $9.86
0.37% of portfolio
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