Elevance Health Stake Cut by 4.37% in Greenberg’s Q4 2025 Filing
Glenn Greenberg's Q4 2025 13F filing shows he cut his Elevance Health holdings, lowering portfolio exposure by 4.37%. This reduction aligns with his concentrated, ROIC-focused investment approach as he increased stakes in Applied Materials, S&P Global, Millrose Properties and AutoNation.
1. Elevance Health Stake Reduction
In the fourth quarter of 2025, Glenn Greenberg trimmed his Elevance Health holdings, reducing its weight in his portfolio by 4.37%. The adjustment underscores a targeted rebalancing away from healthcare exposure within his highly concentrated book.
2. Portfolio Reallocations
Proceeds from the sale of Elevance shares were redirected to Applied Materials (961 shares valued at $246,970), S&P Global (401 shares valued at $209,560), and significant increases in Millrose Properties (up 3,224,632 shares to 8,600,224) and AutoNation (up 338,698 shares to 1,552,741), diversifying into technology, financial data and real estate.
3. Greenberg’s Investment Philosophy
Greenberg maintains a concentrated portfolio strategy focused on companies with minimal competition and strong return on invested capital. He views fewer holdings as a defense against ignorance, allocating only to businesses he understands deeply.