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 |
Johnson & Johnson
JNJ
|
+$81.8M |
| 2 |
NCR Voyix
VYX
|
+$79.9M |
| 3 |
General Dynamics
GD
|
+$74.8M |
| 4 |
Jacobs Solutions
J
|
+$69.8M |
| 5 |
Stanley Black & Decker
SWK
|
+$64.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Oracle
ORCL
|
+$56.8M |
| 2 |
Illinois Tool Works
ITW
|
+$55M |
| 3 |
RAD
Rite Aid Corporation
RAD
|
+$51.9M |
| 4 |
NVR
NVR
|
+$51.6M |
| 5 |
Dick's Sporting Goods
DKS
|
+$51.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 22.47% |
| 2 | Technology | 20.39% |
| 3 | Consumer Discretionary | 18.93% |
| 4 | Consumer Staples | 12.29% |
| 5 | Healthcare | 10.81% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
951
BCE
BCE
$22.1B
| – | – |
-534,837
| Closed | -$22.9M |
|
952
Becton Dickinson
BDX
$52.3B
| – | – |
-104,137
| Closed | -$11.6M |
|
953
Builders FirstSource
BLDR
$7.55B
| – | – |
-33,635
| Closed | -$183K |
|
954
BioMarin Pharmaceuticals
BMRN
$12.9B
| – | – |
-3,885
| Closed | -$280K |
|
955
Carnival Corporation Ltd
CCL
$35.2B
| – | – |
-272,077
| Closed | -$10.9M |
|
956
Cadence Design Systems
CDNS
$87.9B
| – | – |
-31,556
| Closed | -$543K |
|
957
CF Industries
CF
$19.6B
| – | – |
-15,315
| Closed | -$855K |
|
958
Commercial Metals
CMC
$7.34B
| – | – |
-373,392
| Closed | -$6.37M |
|
959
Coca-Cola Consolidated
COKE
$12.6B
| – | – |
-70,310
| Closed | -$525K |
|
960
Coty
COTY
$2.41B
| – | – |
-207,616
| Closed | -$3.44M |
|
961
Canadian Pacific Kansas City
CP
$85B
| – | – |
-8,245
| Closed | -$342K |
|
962
Cirrus Logic
CRUS
$5.78B
| – | – |
-1,702,067
| Closed | -$35.5M |
|
963
CorVel
CRVL
$3.54B
| – | – |
-181,539
| Closed | -$2.06M |
|
964
CVB Financial
CVBF
$3.97B
| – | – |
-10,180
| Closed | -$146K |
|
965
Donaldson
DCI
$10.8B
| – | – |
-49,626
| Closed | -$2.02M |
|
966
HF Sinclair
DINO
$17.3B
| – | – |
-13,140
| Closed | -$574K |
|
967
Delek US
DK
$4.38B
| – | – |
-28,377
| Closed | -$940K |
|
968
Dolby
DLB
$6.11B
| – | – |
-188,458
| Closed | -$7.88M |
|
969
DNOW Inc
DNOW
$2.83B
| – | – |
-795,140
| Closed | -$24.2M |
|
970
Dorman Products
DORM
$3.92B
| – | – |
-18,572
| Closed | -$744K |
|
971
Descartes Systems
DSGX
$6.7B
| – | – |
-11,490
| Closed | -$159K |
|
972
Evolution Petroleum
EPM
$127M
| – | – |
-13,068
| Closed | -$120K |
|
973
Fortune Brands Innovations
FBIN
$5.32B
| – | – |
-20,784
| Closed | -$730K |
|
974
FirstCash
FCFS
$9.77B
| – | – |
-25,817
| Closed | -$1.45M |
|
975
Future Fuel
FF
$244M
| – | – |
-18,242
| Closed | -$217K |
|
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Joel Greenblatt's Q4 2014 Portfolio in Review
As of Q4 2014, Joel Greenblatt held 1,167 positions worth $12.4B, up 23% from $10.1B the previous quarter. Its ten largest holdings account for 7.2% of the portfolio.
Joel Greenblatt deployed $1.67B of net new capital in Q4 2014, opening 197 new positions and adding to 380 existing holdings. Its largest new stake was Jacobs Solutions: 1,831,169 shares worth $67.7M.
By sector, the portfolio is most concentrated in Industrials at 22% of assets, up from 21% a quarter earlier, followed by Technology and Consumer Discretionary.
On the sell side, the largest reduction was Oracle, an estimated $56.8M trimmed.
- Joel Greenblatt's largest Q4 2014 buy was Jacobs Solutions: 1,831,169 shares worth $67.7M.
- Joel Greenblatt added most to Johnson & Johnson in Q4 2014, an estimated $81.8M increase.
- Joel Greenblatt's biggest Q4 2014 reduction was Oracle, cutting an estimated $56.8M.
- Joel Greenblatt fully exited TYCO INTL PLC COM SHS (IRL) in Q4 2014, selling an estimated $42.2M.
- Joel Greenblatt's ten largest holdings make up 7.2% of its $12.4B portfolio in Q4 2014.
- Joel Greenblatt opened 197 new positions and closed 231 in Q4 2014.
- Joel Greenblatt's portfolio value rose 23% quarter-over-quarter to $12.4B.
Based on Gotham Asset Management's 13F filing for Q4 2014, filed 17 Feb 2015.