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 |
Trane Technologies
TT
|
+$52.9M |
| 2 |
CVS Health
CVS
|
+$49.8M |
| 3 |
Booking.com
BKNG
|
+$46.8M |
| 4 |
Philip Morris
PM
|
+$42.5M |
| 5 |
Abbott
ABT
|
+$40.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Hewlett Packard
HPE
|
+$82M |
| 2 |
Sysco
SYY
|
+$54.1M |
| 3 |
Marriott International
MAR
|
+$50.1M |
| 4 |
Automatic Data Processing
ADP
|
+$49.8M |
| 5 |
Walt Disney
DIS
|
+$48.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 22.86% |
| 2 | Technology | 19.39% |
| 3 | Healthcare | 17.75% |
| 4 | Consumer Discretionary | 16.26% |
| 5 | Consumer Staples | 8.47% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
951
Broadridge
BR
$20.8B
| – | – |
-182,832
| Closed | -$12.4M |
|
952
British American Tobacco
BTI
$121B
| – | – |
-27,814
| Closed | -$1.77M |
|
953
BWX Technologies
BWXT
$14.4B
| – | – |
-75,080
| Closed | -$2.88M |
|
954
Cato Corp
CATO
$58.3M
| – | – |
-50,816
| Closed | -$1.67M |
|
955
CEVA Inc
CEVA
$788M
| – | – |
-6,859
| Closed | -$241K |
|
956
Choice Hotels
CHH
$4.93B
| – | – |
-6,654
| Closed | -$300K |
|
957
Clean Harbors
CLH
$16.7B
| – | – |
-6,312
| Closed | -$303K |
|
958
Clean Energy Fuels
CLNE
$357M
| – | – |
-14,931
| Closed | -$67K |
|
959
CMS Energy
CMS
$21.4B
| – | – |
-10,514
| Closed | -$442K |
|
960
Coherent
COHR
$56.7B
| – | – |
-13,880
| Closed | -$338K |
|
961
Carpenter Technology
CRS
$24.4B
| – | – |
-39,933
| Closed | -$1.65M |
|
962
Cenovus Energy
CVE
$60.7B
| – | – |
-622,822
| Closed | -$8.95M |
|
963
Commercial Vehicle Group
CVGI
$130M
| – | – |
-13,352
| Closed | -$77K |
|
964
Commault Systems
CVLT
$5.55B
| – | – |
-22,042
| Closed | -$1.17M |
|
965
3D Systems Corp
DDD
$530M
| – | – |
-30,495
| Closed | -$547K |
|
|
DENN
966
DELISTED
Denny's
DENN
| – | – |
-57,678
| Closed | -$617K |
|
967
Dollar Tree
DLTR
$25.3B
| – | – |
-26,244
| Closed | -$2.07M |
|
968
Amdocs
DOX
$6.41B
| – | – |
-8,630
| Closed | -$499K |
|
969
Dycom Industries
DY
$11.8B
| – | – |
-81,429
| Closed | -$6.66M |
|
970
Encompass Health
EHC
$11.9B
| – | – |
-104,874
| Closed | -$3.38M |
|
971
Estee Lauder
EL
$36.9B
| – | – |
-23,747
| Closed | -$2.1M |
|
972
Enbridge
ENB
$110B
| – | – |
-24,916
| Closed | -$1.1M |
|
973
Energy Recovery
ERII
$403M
| – | – |
-18,951
| Closed | -$303K |
|
974
Etsy
ETSY
$7.44B
| – | – |
-19,532
| Closed | -$279K |
|
975
Entravision Communication
EVC
$745M
| – | – |
-16,627
| Closed | -$127K |
|
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Joel Greenblatt's Q4 2016 Portfolio in Review
As of Q4 2016, Joel Greenblatt held 1,149 positions worth $7.77B, up 1.2% from $7.68B the previous quarter. Its ten largest holdings account for 8.9% of the portfolio.
Joel Greenblatt withdrew a net $270M in Q4 2016, closing 225 positions and reducing 377 holdings. Its most notable exit was Sysco, an estimated $54.1M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 23% of assets, up from 20% a quarter earlier, followed by Technology and Healthcare.
Against the trend, Joel Greenblatt opened a new position in Philip Morris worth $42M.
- Joel Greenblatt's largest Q4 2016 buy was Philip Morris: 458,877 shares worth $42M.
- Joel Greenblatt added most to Trane Technologies in Q4 2016, an estimated $52.9M increase.
- Joel Greenblatt's biggest Q4 2016 reduction was Hewlett Packard, cutting an estimated $82M.
- Joel Greenblatt fully exited Sysco in Q4 2016, selling an estimated $54.1M.
- Joel Greenblatt's ten largest holdings make up 8.9% of its $7.77B portfolio in Q4 2016.
- Joel Greenblatt opened 238 new positions and closed 225 in Q4 2016.
- Joel Greenblatt's portfolio value rose 1.2% quarter-over-quarter to $7.77B.
Based on Gotham Asset Management's 13F filing for Q4 2016, filed 14 Feb 2017.