Joel Greenblatt Gotham Asset Management
Joel Greenblatt is a co-founder of Gotham Asset Management and a well-known value investor, professor, and author. He gained wide recognition for The Little Book That Beats the Market and for popularizing a systematic value approach often called the “magic formula.” Greenblatt’s career spans special-situation investing, quantitative value strategies, and investor education.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Linde
LIN
|
+$50.5M |
| 2 |
Comcast
CMCSA
|
+$31.1M |
| 3 |
Lowe's Companies
LOW
|
+$26.3M |
| 4 |
Occidental Petroleum
OXY
|
+$24.2M |
| 5 |
Ford
F
|
+$24M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Eli Lilly
LLY
|
+$44.3M |
| 2 |
Phillips 66
PSX
|
+$34M |
| 3 |
Honeywell
HON
|
+$28.9M |
| 4 |
Intuit
INTU
|
+$28.1M |
| 5 |
RTN
Raytheon Company
RTN
|
+$26.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 20.74% |
| 2 | Industrials | 16.83% |
| 3 | Healthcare | 15.35% |
| 4 | Consumer Discretionary | 11.7% |
| 5 | Consumer Staples | 9.82% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
CSX Corp
CSX
$95.6B
| $39M | 0.69% |
1,687,353
-205,758
| -11% | -$4.79M |
|
27
eBay
EBAY
$46.3B
| $38.2M | 0.67% |
979,893
+46,412
| +5% | +$1.86M |
|
|
28
Honeywell
HON
$68.4B
| $37.9M | 0.67% |
237,884
-181,862
| -43% | -$28.9M |
|
29
Target
TGT
$75.1B
| $37.6M | 0.66% |
351,345
+44,350
| +14% | +$4.22M |
|
30
Lam Research
LRCX
$393B
| $34.5M | 0.61% |
1,491,260
-298,860
| -17% | -$6.28M |
|
|
31
Comcast
CMCSA
$95.3B
| $33.9M | 0.6% |
750,937
+702,468
| +1,449% | +$31.1M |
|
32
Humana
HUM
$45.5B
| $32.8M | 0.58% |
128,470
+57,051
| +80% | +$16M |
|
33
Dollar General
DG
$27.2B
| $32.1M | 0.57% |
201,790
-14,366
| -7% | -$2.08M |
|
34
Verizon
VZ
$205B
| $31.8M | 0.56% |
526,409
-308,455
| -37% | -$17.8M |
|
35
General Mills
GIS
$21.4B
| $31.2M | 0.55% |
565,552
-44,289
| -7% | -$2.39M |
|
36
Norfolk Southern
NSC
$78.8B
| $31.1M | 0.55% |
173,060
+38,878
| +29% | +$7.15M |
|
37
Sysco
SYY
$40.2B
| $30.4M | 0.54% |
382,562
-37,900
| -9% | -$2.78M |
|
38
McKesson
MCK
$100B
| $30.2M | 0.53% |
220,993
+76,249
| +53% | +$10.8M |
|
39
Alphabet (Google) Class A
GOOGL
$4.22T
| $29.9M | 0.53% |
489,560
-80,200
| -14% | -$4.75M |
|
40
Gilead Sciences
GILD
$181B
| $29.3M | 0.52% |
462,813
+178,621
| +63% | +$11.7M |
|
41
Colgate-Palmolive
CL
$72.6B
| $29.3M | 0.52% |
398,257
+138,330
| +53% | +$10M |
|
42
Meta Platforms (Facebook)
META
$1.4T
| $28.6M | 0.51% |
160,519
-1,149
| -0.7% | -$218K |
|
43
Eaton
ETN
$163B
| $28.4M | 0.5% |
341,882
-85,988
| -20% | -$6.97M |
|
44
Philip Morris
PM
$293B
| $27.8M | 0.49% |
366,625
+152,043
| +71% | +$12M |
|
45
Hershey
HSY
$37.5B
| $27.8M | 0.49% |
179,585
-40,801
| -19% | -$6.16M |
|
|
XLNX
46
DELISTED
Xilinx Inc
XLNX
| $27.8M | 0.49% |
289,973
+92,087
| +47% | +$10.1M |
|
47
Cummins
CMI
$80.9B
| $26.9M | 0.47% |
165,093
-5,462
| -3% | -$874K |
|
48
Paychex
PAYX
$44.3B
| $26.8M | 0.47% |
323,608
-71,832
| -18% | -$5.97M |
|
49
HP
HPQ
$27.2B
| $26.4M | 0.47% |
1,393,385
+85,221
| +7% | +$1.67M |
|
50
UnitedHealth
UNH
$350B
| $26.2M | 0.46% |
120,495
+8,254
| +7% | +$1.99M |
|
Similar funds
Joel Greenblatt's Q3 2019 Portfolio in Review
As of Q3 2019, Joel Greenblatt held 1,300 positions worth $5.66B, down 9.7% from $6.27B the previous quarter. Its ten largest holdings account for 11% of the portfolio.
Joel Greenblatt withdrew a net $593M in Q3 2019, closing 225 positions and reducing 527 holdings. Its most notable exit was Phillips 66, an estimated $34M position sold in full.
By sector, the portfolio is most concentrated in Technology at 21% of assets, down from 22% a quarter earlier, followed by Industrials and Healthcare.
Against the trend, Joel Greenblatt opened a new position in Marathon Petroleum worth $23.5M.
- Joel Greenblatt's largest Q3 2019 buy was Marathon Petroleum: 387,491 shares worth $23.5M.
- Joel Greenblatt added most to Linde in Q3 2019, an estimated $50.5M increase.
- Joel Greenblatt's biggest Q3 2019 reduction was Eli Lilly, cutting an estimated $44.3M.
- Joel Greenblatt fully exited Phillips 66 in Q3 2019, selling an estimated $34M.
- Joel Greenblatt's ten largest holdings make up 11% of its $5.66B portfolio in Q3 2019.
- Joel Greenblatt opened 185 new positions and closed 225 in Q3 2019.
- Joel Greenblatt's portfolio value fell 9.7% quarter-over-quarter to $5.66B.
Based on Gotham Asset Management's 13F filing for Q3 2019, filed 14 Nov 2019.