Insights from the Fourth Quarter 2024 13F Filing

Jeremy Grantham (Trades, Portfolio) recently submitted the 13F filing for the fourth quarter of 2024, providing insights into his investment moves during this period. Jeremy Grantham (Trades, Portfolio) is the Chairman of the Board of Grantham Mayo van Otterloo (GMO) LLC, a Boston-based asset management firm. He is regarded as a highly knowledgeable investor in various stock, bond, and commodity markets. Grantham started one of the world's first index funds in the early 1970s. Grantham has built much of his investing reputation over his long career by correctly identifying speculative market "bubbles" as they were happening and steering clients' assets clear of impending crashes. Grantham avoided investing in Japanese equities and real estate in the late eighties, as well as technology stocks during the internet bubble in the late nineties. Grantham also began warning about the overvaluation of equity and credit markets in 2006, well before the start of the crisis.

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Summary of New Buy

Jeremy Grantham (Trades, Portfolio) added a total of 71 stocks, among them:

• The most significant addition was iShares Core S&P 500 ETF (IVV), with 218,200 shares, accounting for 0.42% of the portfolio and a total value of $128.45 million.
• The second largest addition to the portfolio was Arch Resources Inc (ARCH), consisting of 183,706 shares, representing approximately 0.08% of the portfolio, with a total value of $25.94 million.
• The third largest addition was Frontier Communications Parent Inc (NASDAQ:FYBR), with 593,982 shares, accounting for 0.07% of the portfolio and a total value of $20.61 million.

Key Position Increases

Jeremy Grantham (Trades, Portfolio) also increased stakes in a total of 203 stocks, among them:

• The most notable increase was Thermo Fisher Scientific Inc (NYSE:TMO), with an additional 639,467 shares, bringing the total to 1,093,866 shares. This adjustment represents a significant 140.73% increase in share count, a 1.08% impact on the current portfolio, with a total value of $569.06 million.
• The second largest increase was UnitedHealth Group Inc (NYSE:UNH), with an additional 380,459 shares, bringing the total to 2,070,968. This adjustment represents a significant 22.51% increase in share count, with a total value of $1,047.62 million.

Summary of Sold Out

Jeremy Grantham (Trades, Portfolio) completely exited 60 of the holdings in the fourth quarter of 2024, as detailed below:

• Marathon Oil Corp (MRO): Jeremy Grantham (Trades, Portfolio) sold all 1,443,416 shares, resulting in a -0.12% impact on the portfolio.
• Avangrid Inc (AGR): Jeremy Grantham (Trades, Portfolio) liquidated all 986,025 shares, causing a -0.11% impact on the portfolio.

Key Position Reduces

Jeremy Grantham (Trades, Portfolio) also reduced positions in 260 stocks. The most significant changes include:

• Reduced TJX Companies Inc (NYSE:TJX) by 1,920,938 shares, resulting in a -33.73% decrease in shares and a -0.71% impact on the portfolio. The stock traded at an average price of $119.4 during the quarter and has returned 4.13% over the past 3 months and 2.98% year-to-date.
• Reduced Intuitive Surgical Inc (NASDAQ:ISRG) by 433,844 shares, resulting in a -28.97% reduction in shares and a -0.67% impact on the portfolio. The stock traded at an average price of $521.42 during the quarter and has returned 9.78% over the past 3 months and 12.96% year-to-date.

Portfolio Overview

At the fourth quarter of 2024, Jeremy Grantham (Trades, Portfolio)'s portfolio included 570 stocks, with top holdings including 5.37% in Microsoft Corp (NASDAQ:MSFT), 5.14% in Apple Inc (NASDAQ:AAPL), 4.55% in Alphabet Inc (NASDAQ:GOOGL), 4.23% in Meta Platforms Inc (NASDAQ:META), and 3.41% in UnitedHealth Group Inc (NYSE:UNH).

The holdings are mainly concentrated in all 11 industries: Technology, Healthcare, Financial Services, Communication Services, Consumer Cyclical, Consumer Defensive, Industrials, Energy, Basic Materials, Real Estate, and Utilities.

This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.

This article first appeared on GuruFocus.