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 |
Hewlett Packard
HPE
|
+$62.1M |
| 2 |
Walt Disney
DIS
|
+$54.6M |
| 3 |
Danaher
DHR
|
+$47.7M |
| 4 |
Home Depot
HD
|
+$46.1M |
| 5 |
Applied Materials
AMAT
|
+$39.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
RTX Corp
RTX
|
+$59.4M |
| 2 |
IM
Ingram Micro
IM
|
+$51M |
| 3 |
FIT
Fitbit, Inc. Class A common stock
FIT
|
+$44.5M |
| 4 |
Western Digital
WDC
|
+$44.3M |
| 5 |
Zimmer Biomet
ZBH
|
+$44.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 20.28% |
| 2 | Industrials | 20.14% |
| 3 | Consumer Discretionary | 17.92% |
| 4 | Healthcare | 16.75% |
| 5 | Consumer Staples | 9.03% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
926
Bath & Body Works
BBWI
$3.92B
| – | – |
-503,829
| Closed | -$27.3M |
|
927
Becton Dickinson
BDX
$52.3B
| – | – |
-19,181
| Closed | -$3.17M |
|
928
Bunge Global
BG
$21.7B
| – | – |
-234,077
| Closed | -$13.8M |
|
929
BioMarin Pharmaceuticals
BMRN
$12.9B
| – | – |
-3,144
| Closed | -$245K |
|
930
Barnes & Noble Education
BNED
$418M
| – | – |
-204
| Closed | -$207K |
|
931
Bruker
BRKR
$9.07B
| – | – |
-251,600
| Closed | -$5.72M |
|
932
Boyd Gaming
BYD
$5.87B
| – | – |
-17,851
| Closed | -$328K |
|
933
CALL
Citigroup
C
$221B
| – | – |
-69,763
| Closed | -$2.96M |
|
934
CACI
CACI
$14.3B
| – | – |
-3,820
| Closed | -$345K |
|
935
CAE Inc
CAE
$8.02B
| – | – |
-34,903
| Closed | -$422K |
|
936
Caterpillar
CAT
$381B
| – | – |
-2,732
| Closed | -$207K |
|
937
Cognex
CGNX
$10.2B
| – | – |
-13,866
| Closed | -$299K |
|
938
Chefs' Warehouse
CHEF
$4.51B
| – | – |
-12,339
| Closed | -$197K |
|
939
Canadian National Railway
CNI
$78.5B
| – | – |
-297,969
| Closed | -$17.6M |
|
940
Cinemark Holdings
CNK
$4.24B
| – | – |
-29,260
| Closed | -$1.07M |
|
941
Columbia Sportswear
COLM
$3.09B
| – | – |
-148,416
| Closed | -$8.54M |
|
942
Canadian Pacific Kansas City
CP
$85B
| – | – |
-136,240
| Closed | -$3.51M |
|
943
Carter's
CRI
$1.31B
| – | – |
-65,209
| Closed | -$6.94M |
|
944
Charles River Laboratories
CRL
$14.1B
| – | – |
-11,856
| Closed | -$977K |
|
945
Cirrus Logic
CRUS
$5.78B
| – | – |
-7,322
| Closed | -$284K |
|
946
CorVel
CRVL
$3.54B
| – | – |
-35,265
| Closed | -$508K |
|
947
DigitalBridge
DBRG
$2.95B
| – | – |
-3,890
| Closed | -$159K |
|
948
Deckers Outdoor
DECK
$12.5B
| – | – |
-3,027,666
| Closed | -$29M |
|
949
Duluth Holdings
DLTH
$145M
| – | – |
-19,643
| Closed | -$480K |
|
950
Emcor
EME
$34.3B
| – | – |
-20,931
| Closed | -$1.03M |
|
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Joel Greenblatt's Q3 2016 Portfolio in Review
As of Q3 2016, Joel Greenblatt held 1,152 positions worth $7.68B, down 7.9% from $8.34B the previous quarter. Its ten largest holdings account for 9.6% of the portfolio.
Joel Greenblatt withdrew a net $1.05B in Q3 2016, closing 241 positions and reducing 391 holdings. Its most notable exit was Western Digital, an estimated $44.3M position sold in full.
By sector, the portfolio is most concentrated in Technology at 20% of assets, down from 20% a quarter earlier, followed by Industrials and Consumer Discretionary.
Against the trend, Joel Greenblatt opened a new position in Danaher worth $46.7M.
- Joel Greenblatt's largest Q3 2016 buy was Danaher: 672,395 shares worth $46.7M.
- Joel Greenblatt added most to Hewlett Packard in Q3 2016, an estimated $62.1M increase.
- Joel Greenblatt's biggest Q3 2016 reduction was RTX Corp, cutting an estimated $59.4M.
- Joel Greenblatt fully exited Western Digital in Q3 2016, selling an estimated $44.3M.
- Joel Greenblatt's ten largest holdings make up 9.6% of its $7.68B portfolio in Q3 2016.
- Joel Greenblatt opened 218 new positions and closed 241 in Q3 2016.
- Joel Greenblatt's portfolio value fell 7.9% quarter-over-quarter to $7.68B.
Based on Gotham Asset Management's 13F filing for Q3 2016, filed 14 Nov 2016.