Buffett Named Three People He Would Trust With His Money. Two Are Famous. The Third Just Bet Half His Fund on a Car Dealer.
Group 1 Automotive (GPI), the ghost of Ruane Cunniff, and a company that is eating itself off the stock exchange
The Sequoia Fund publishes its investment committee on its website. Every member has a photograph and a biography.
Except one. Next to his name, the page says simply, “Not Pictured”.
In three decades, that man has never given an interview. No podcast. No conference panel. No investor letter that ever leaked. He runs billions of dollars from an office at 45 Rockefeller Plaza, and the only thing he cannot hide is a quarterly SEC filing.
In 2010, professor Bruce Greenwald told his Columbia class that Warren Buffett had named the three people he would want managing his money after he is gone. The first was Seth Klarman. The third was Li Lu. Both are famous. Books, letters, disciples.
The second name was Greg Alexander. The room had to ask who that was.
Sixteen years later, the ghost has finally made a sound. Not with words. He has never used words. With a filing.
In May 2026, his fund crossed the 5 percent ownership threshold in a Houston car dealership company and was legally forced to reveal itself. Greg Alexander now owns 6.4 percent of Group 1 Automotive. Nearly half of everything he manages in US stocks sits in this one name. And in the first quarter of 2026, while the stock was falling, he sold down one of his other holdings to buy 33 percent more of it, roughly 65 million dollars worth, at prices near 349.
The stock trades at 326 today.
A man Buffett trusts with his money, who has said nothing in public for thirty years, just bet half his fund on a company most investors find too boring to open. This post is about decoding what he sees. And I warn you now, what he sees is not a car dealer.
The bloodline
In 1969, Buffett shut down his partnership. The market was too expensive and he refused to play. But his partners needed somewhere to put their money, and Buffett recommended exactly one man. Bill Ruane, his classmate from Ben Graham’s course at Columbia. Ruane founded the Sequoia Fund to take Buffett’s partners, and over the following decades Sequoia beat its peers in 332 of 333 rolling ten year periods. The fund was closed to new investors for 26 straight years. Single shares traded hands on a black market.
In the mid 1980s a young Yale graduate joined that firm. Ruane introduced him to shareholders with one sentence. He joined us out of Yale where, despite his economics degree, it appears he spent most of his time reading annual reports.
That was Greg Alexander. He has spent the forty years since doing exactly that. Reading. His partnerships beat the S&P 500 for more than 25 years, investing globally, in silence. No letters leak. No trades get discussed. To this day, the Sequoia Fund’s own team page lists every member with a photograph except one. Next to his name it simply says Not Pictured. The Buffett bloodline, one generation removed, running in the dark.
Which means the 13G filed in May is the loudest thing this man has ever said.
So let me tell you what he bought. And why the market is handing it to you 15 percent cheaper than the ghost paid, 30 percent cheaper than the company itself paid, and 40 percent below where the stock stood ten months ago.
