"Tracking Jeremy Grantham’s GMO Capital Portfolio – Q2 2017 Update"
"Jeremy Grantham’s 13F portfolio value increased from $17.73B to $18.12B this quarter.GMO Capital added Altaba & Tribune Media while dropping McDonalds.The largest three individual stock positions are Microsoft Corporation, Alphabet Inc., & Oracle and they add up to ~13% of the portfolio.Jeremy Grantham’s 13F portfolio value increased ~2% from $17.73B to $18.12B this quarter. The portfolio is diversified with recent 13F reports showing well over 500 different positions. The largest five stakes are Microsoft Corporation (MSFT), Alphabet Inc. (GOOG), Oracle Corporation (ORCL), Apple Inc. (AAPL), and Johnson & Johnson (JNJ) and they add up to ~21% of the portfolio.Below is a spreadsheet that shows the changes to Jeremy Grantham's GMO Capital US long portfolio holdings as of Q2 2017. For a look at how the portfolio has progressed, :To learn more about how to profit from a strategy of following the best hedge fund picks, check out our book .: (03/2013) Known mostly on predicting bubbles accurately. Worries that Bernanke thinks 3% growth is possible as problematic - demographic issue makes this an impossibility - 1.5% population growth. Currently prediction is that natural resources will become scarce. Commodities dropped 70% thru 2002 in hundred years and then gave back the drop in 6-7 years - running out of cheap resources - population growth, China effect (uses vast percentages of commodities the world produces yearly) - oil was 25 in 2000, now 100 - resources are squeezing the rest. Keystone pipeline - against - global warming - carbondioxide effect - pushed temperatures globally by 0.8 degree - two degrees is a flipover point - we have five times the amount required for two degree increase in carbon. Tar sands will be environmentally ruinous - will have no chance - keystone facilitates this. 250 years of civilization is mostly due to energy (oil, coal discovery from 1790 onwards). Bear but still an Optimist - two things that might help us: 1) fertility rate is 1.5 even-though we are rich and 2) Alternative energy - suppresses demand on finite resources - nice. Underweight US except stalwarts, moderately underweight ex-US. Bernanke’s easing policy - very problematic.From Wiki - 5/2017: Investment Philosophy: All asset classes and markets will revert to historical mean from highs and lows. Allocates based on internal prediction of market direction over the longer-term.5/2017 - My Note - Overall, their investment philosophy has resulted in them vastly underperforming at times of general euphoria only to catch up when markets correct. They have also generally been early with their predictions and that has resulted in several years of underperformance. The current view that US equity markets are overvalued has resulted in underweighting in US equities. Unlike other times, this has caused in the firm’s clients to take out substantial money - AUM down from ~$120B at the peak to ~$77B now (3/31/2017).Regulatory Filings thru 6/23/2017:None."