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 |
General Dynamics
GD
|
+$58M |
| 2 |
Wells Fargo
WFC
|
+$39.8M |
| 3 |
Northrop Grumman
NOC
|
+$39.6M |
| 4 |
Pfizer
PFE
|
+$37.2M |
| 5 |
Bristol-Myers Squibb
BMY
|
+$33.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
RTX Corp
RTX
|
+$59.8M |
| 2 |
Cigna
CI
|
+$42M |
| 3 |
Altria Group
MO
|
+$28.5M |
| 4 |
Philip Morris
PM
|
+$28.3M |
| 5 |
Parker-Hannifin
PH
|
+$26.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 19.79% |
| 2 | Industrials | 18.96% |
| 3 | Consumer Discretionary | 15.28% |
| 4 | Healthcare | 13.64% |
| 5 | Consumer Staples | 8.71% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Walt Disney
DIS
$190B
| $30.6M | 0.45% |
276,004
-70,454
| -20% | -$7.87M |
|
52
Kinder Morgan
KMI
$68.5B
| $30.5M | 0.45% |
1,523,920
+233,450
| +18% | +$4.36M |
|
53
Home Depot
HD
$336B
| $30.5M | 0.45% |
158,780
-8,032
| -5% | -$1.47M |
|
54
HP
HPQ
$26.2B
| $30.1M | 0.44% |
1,547,756
-698,440
| -31% | -$14.8M |
|
55
Lam Research
LRCX
$383B
| $29.7M | 0.44% |
1,660,760
-368,270
| -18% | -$6.14M |
|
56
AbbVie
ABBV
$467B
| $29.5M | 0.43% |
366,453
+63,196
| +21% | +$5.17M |
|
57
VF Corp
VFC
$5.61B
| $29.5M | 0.43% |
+360,338
| New | +$28.1M |
|
58
General Mills
GIS
$21.8B
| $29.1M | 0.43% |
563,051
-69,857
| -11% | -$3.16M |
|
59
TE Connectivity
TEL
$58B
| $28.9M | 0.42% |
357,849
-123,957
| -26% | -$10M |
|
60
Johnson Controls International
JCI
$86.1B
| $28.9M | 0.42% |
781,643
-268,541
| -26% | -$9.21M |
|
61
DXC Technology
DXC
$1.73B
| $28.3M | 0.41% |
439,744
-66,193
| -13% | -$4.23M |
|
62
Trane Technologies
TT
$98.5B
| $28M | 0.41% |
259,678
-26,203
| -9% | -$2.66M |
|
63
Xerox
XRX
$374M
| $27.2M | 0.4% |
849,343
+59,222
| +7% | +$1.67M |
|
64
Medtronic
MDT
$119B
| $27.1M | 0.4% |
298,015
-52,593
| -15% | -$4.71M |
|
65
Fortive
FTV
$18.3B
| $27M | 0.4% |
511,208
+329,528
| +181% | +$16.1M |
|
66
Intel
INTC
$461B
| $26.2M | 0.38% |
487,731
+66,811
| +16% | +$3.39M |
|
67
Illinois Tool Works
ITW
$80.6B
| $26.2M | 0.38% |
182,403
-108,888
| -37% | -$15.1M |
|
68
3M
MMM
$92.3B
| $26.1M | 0.38% |
150,399
-121,924
| -45% | -$20.5M |
|
69
Cummins
CMI
$79B
| $26.1M | 0.38% |
165,200
-102,871
| -38% | -$15.4M |
|
70
Constellation Brands
STZ
$23.6B
| $25.8M | 0.38% |
147,125
-63,859
| -30% | -$10.8M |
|
71
Hershey
HSY
$38.1B
| $25.6M | 0.37% |
222,742
+129,962
| +140% | +$14.2M |
|
72
ConocoPhillips
COP
$160B
| $25.5M | 0.37% |
381,600
+14,719
| +4% | +$990K |
|
73
DuPont de Nemours
DD
$18.4B
| $25.3M | 0.37% |
187,383
+47,478
| +34% | +$6.59M |
|
74
McDonald's
MCD
$193B
| $25.2M | 0.37% |
132,479
-23,504
| -15% | -$4.27M |
|
75
Paychex
PAYX
$44.9B
| $23.9M | 0.35% |
298,446
+130,753
| +78% | +$9.64M |
|
Similar funds
Joel Greenblatt's Q1 2019 Portfolio in Review
As of Q1 2019, Joel Greenblatt held 1,284 positions worth $6.83B, up 6.1% from $6.44B the previous quarter. Its ten largest holdings account for 10% of the portfolio.
Joel Greenblatt withdrew a net $437M in Q1 2019, closing 124 positions and reducing 485 holdings. Its most notable exit was Cigna, an estimated $42M position sold in full.
By sector, the portfolio is most concentrated in Technology at 20% of assets, up from 19% a quarter earlier, followed by Industrials and Consumer Discretionary.
Against the trend, Joel Greenblatt opened a new position in General Dynamics worth $58.2M.
- Joel Greenblatt's largest Q1 2019 buy was General Dynamics: 343,980 shares worth $58.2M.
- Joel Greenblatt added most to Wells Fargo in Q1 2019, an estimated $39.8M increase.
- Joel Greenblatt's biggest Q1 2019 reduction was RTX Corp, cutting an estimated $59.8M.
- Joel Greenblatt fully exited Cigna in Q1 2019, selling an estimated $42M.
- Joel Greenblatt's ten largest holdings make up 10% of its $6.83B portfolio in Q1 2019.
- Joel Greenblatt opened 319 new positions and closed 124 in Q1 2019.
- Joel Greenblatt's portfolio value rose 6.1% quarter-over-quarter to $6.83B.
Based on Gotham Asset Management's 13F filing for Q1 2019, filed 15 May 2019.