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 |
Intuit
INTU
|
+$57.3M |
| 2 |
FedEx
FDX
|
+$53.4M |
| 3 |
Walt Disney
DIS
|
+$45.1M |
| 4 |
Automatic Data Processing
ADP
|
+$41.2M |
| 5 |
Parker-Hannifin
PH
|
+$37.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TWX
Time Warner Inc
TWX
|
+$53.3M |
| 2 |
General Motors
GM
|
+$41M |
| 3 |
Stanley Black & Decker
SWK
|
+$39.9M |
| 4 |
General Dynamics
GD
|
+$38.3M |
| 5 |
Emerson Electric
EMR
|
+$36.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 22.38% |
| 2 | Industrials | 16.38% |
| 3 | Consumer Discretionary | 16.34% |
| 4 | Healthcare | 13.71% |
| 5 | Consumer Staples | 12.74% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
951
Hubbell
HUBB
$24.8B
| – | – |
-99,336
| Closed | -$12.1M |
|
952
Howmet Aerospace
HWM
$108B
| – | – |
-1,169,402
| Closed | -$20.7M |
|
953
Interactive Brokers
IBKR
$42.5B
| – | – |
-12,228
| Closed | -$206K |
|
954
Icon
ICLR
$13.3B
| – | – |
-1,862
| Closed | -$220K |
|
955
International Flavors & Fragrances
IFF
$21.5B
| – | – |
-10,189
| Closed | -$1.4M |
|
956
Ionis Pharmaceuticals
IONS
$9.93B
| – | – |
-32,409
| Closed | -$1.43M |
|
957
Itron
ITRI
$4.38B
| – | – |
-32,266
| Closed | -$2.31M |
|
958
Jefferies Financial Group
JEF
$12.1B
| – | – |
-20,151
| Closed | -$410K |
|
959
KBR
KBR
$4.86B
| – | – |
-20,578
| Closed | -$333K |
|
960
Keurig Dr Pepper
KDP
$43.6B
| – | – |
-140,591
| Closed | -$16.6M |
|
961
KeyCorp
KEY
$23.3B
| – | – |
-15,140
| Closed | -$296K |
|
962
Knight Transportation
KNX
$11.7B
| – | – |
-7,943
| Closed | -$365K |
|
963
Leidos
LDOS
$17.7B
| – | – |
-110,560
| Closed | -$7.23M |
|
964
Leggett & Platt
LEG
$1.29B
| – | – |
-94,348
| Closed | -$4.18M |
|
965
LKQ Corp
LKQ
$6.52B
| – | – |
-27,098
| Closed | -$1.03M |
|
966
Eli Lilly
LLY
$1.12T
| – | – |
-90,625
| Closed | -$7.01M |
|
967
LeMaitre Vascular
LMAT
$1.87B
| – | – |
-7,053
| Closed | -$256K |
|
968
Lantheus
LNTH
$6.53B
| – | – |
-39,603
| Closed | -$630K |
|
969
lululemon athletica
LULU
$13.7B
| – | – |
-6,234
| Closed | -$556K |
|
970
Main Street Capital
MAIN
$5.45B
| – | – |
-8,550
| Closed | -$315K |
|
971
Masco
MAS
$14.5B
| – | – |
-782,198
| Closed | -$31.6M |
|
972
Mercury Insurance
MCY
$5.85B
| – | – |
-7,304
| Closed | -$335K |
|
973
MetLife
MET
$60B
| – | – |
-7,693
| Closed | -$353K |
|
974
MacroGenics
MGNX
$261M
| – | – |
-10,409
| Closed | -$262K |
|
|
CALY
975
Callaway Golf Company
CALY
$2.84B
| – | – |
-143,690
| Closed | -$2.35M |
|
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Joel Greenblatt's Q2 2018 Portfolio in Review
As of Q2 2018, Joel Greenblatt held 1,146 positions worth $6.92B, down 3.2% from $7.15B the previous quarter. Its ten largest holdings account for 9.4% of the portfolio.
Joel Greenblatt withdrew a net $407M in Q2 2018, closing 284 positions and reducing 344 holdings. Its most notable exit was Time Warner Inc, an estimated $53.3M position sold in full.
By sector, the portfolio is most concentrated in Technology at 22% of assets, up from 19% a quarter earlier, followed by Industrials and Consumer Discretionary.
Against the trend, Joel Greenblatt opened a new position in FedEx worth $48.9M.
- Joel Greenblatt's largest Q2 2018 buy was FedEx: 215,574 shares worth $48.9M.
- Joel Greenblatt added most to Intuit in Q2 2018, an estimated $57.3M increase.
- Joel Greenblatt's biggest Q2 2018 reduction was General Motors, cutting an estimated $41M.
- Joel Greenblatt fully exited Time Warner Inc in Q2 2018, selling an estimated $53.3M.
- Joel Greenblatt's ten largest holdings make up 9.4% of its $6.92B portfolio in Q2 2018.
- Joel Greenblatt opened 217 new positions and closed 284 in Q2 2018.
- Joel Greenblatt's portfolio value fell 3.2% quarter-over-quarter to $6.92B.
Based on Gotham Asset Management's 13F filing for Q2 2018, filed 14 Aug 2018.