Does Greenhaven Associates Have A Winner (Or Five) In These Five Stock Picks?

#3 Goldman Sachs Group Inc. (NYSE:GS)

Shares Owned by Greenhaven Associates (as of September 30): 3.32 million shares

Value of Holding (as of September 30): $577.45 million

Greenhaven Associates remained bullish on Goldman Sachs Group Inc. (NYSE:GS) during the third quarter and enlarged its previously-disclosed position by 174,185 shares. Goldman Sachs did not have a great quarter in terms of stock performance either, with its shares losing slightly more than 16% during the three-month period. It seems that the lower-than-expected financial results of the investment banking and securities company for the third quarter were overlooked by the market, as bullish investors have been driving up the company’s share price recently. Goldman Sachs posted earnings per share of $2.90 on operating revenues of $6.9 billion. Warren Buffett’s Berkshire Hathaway is the largest stockholder of Goldman Sachs Group Inc. (NYSE:GS) among the hedge funds monitored by Insider Monkey, holding a 12.63 million-share stake at the end of June.

#2 FedEx Corporation (NYSE:FDX)

Shares Owned by Greenhaven Associates (as of September 30): 4.52 million shares

Value of Holding (as of September 30): $651.29 million

FedEx Corporation (NYSE:FDX) represented Greenhaven Associates’ top holding at the end of the second quarter, but its disappointing stock performance during the three-month period (the shares of FedEx lost 15.36%) put the stock on the second spot of our list. However, the investment firm put more faith in the stock, as it increased its position in the company, which now accounts for roughly 13% of the firm’s portfolio, by 25,445 shares during the September quarter. On Tuesday, FedEx and TNT Express, which FedEx agreed to purchase in an all-cash deal for $8 per share back in April, issued a statement claiming that the European Commission does not have any objections to the $4.8 billion deal. The combined entity is set become the second-largest delivery services business in Europe. Mason Hawkins’ Southeastern Asset Management represents the top shareholder of FedEx Corporation (NYSE:FDX) within our database, owning 5.13 million shares.

#1 Lowe’s Companies Inc. (NYSE:LOW)

Shares Owned by Greenhaven Associates (as of September 30): 9.84 million shares

Value of Holding (as of September 30): $678.33 million

Lowe’s Companies Inc. (NYSE:LOW) is the largest-holding of Greenhaven Associates at the end of the third quarter even though the investment firm trimmed its position by 281,648 shares during the recent quarter. The shares of the home improvement retailer gained 3.35% in the third quarter and have advanced an additional 6% since September 30. Just recently, analysts at Credit Suisse rated the stock at “Outperform” and raised the price target to $80 from $70, citing confidence in the strategic direction of the company. The freshly-updated price target yields an upside potential of nearly 10%. Stephen Mandel’s Lone Pine Capital is the second-largest equity holder of Lowe’s Companies Inc. (NYSE:LOW) among the hedge funds tracked by our team, tailing Greenhaven Associates. The Triger Cub reported owning 7.05 million shares through the 13F filing for the June quarter.

Disclosure: None