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 | |
|---|---|---|---|---|---|---|
|
EXAS
976
DELISTED
Exact Sciences
EXAS
| – | – |
-53,252
| Closed | -$989K |
|
|
FARO
977
DELISTED
Faro Technologies
FARO
| – | – |
-24,179
| Closed | -$869K |
|
978
First Horizon
FHN
$11.7B
| – | – |
-13,468
| Closed | -$205K |
|
979
Comfort Systems
FIX
$58.3B
| – | – |
-13,062
| Closed | -$383K |
|
980
Fluor
FLR
$7.01B
| – | – |
-63,735
| Closed | -$3.27M |
|
981
Flowserve
FLS
$10.1B
| – | – |
-4,916
| Closed | -$237K |
|
982
TechnipFMC
FTI
$30.4B
| – | – |
-12,116
| Closed | -$267K |
|
983
Fortinet
FTNT
$113B
| – | – |
-93,195
| Closed | -$688K |
|
984
Forward Air
FWRD
$612M
| – | – |
-13,099
| Closed | -$567K |
|
985
Global Indemnity Group
GBLI
$399M
| – | – |
-21,110
| Closed | -$627K |
|
986
General Dynamics
GD
$104B
| – | – |
-90,541
| Closed | -$14M |
|
987
The GEO Group
GEO
$4.31B
| – | – |
-14,915
| Closed | -$236K |
|
988
Hyatt Hotels
H
$17B
| – | – |
-33,990
| Closed | -$1.67M |
|
989
Helen of Troy
HELE
$677M
| – | – |
-18,355
| Closed | -$1.58M |
|
990
Hilton Worldwide
HLT
$73.5B
| – | – |
-9,411
| Closed | -$647K |
|
|
HOLX
991
DELISTED
Hologic
HOLX
| – | – |
-103,903
| Closed | -$4.04M |
|
992
HUB Group
HUBG
$2.49B
| – | – |
-275,430
| Closed | -$5.61M |
|
|
PPLI
993
People Inc
PPLI
$2.86B
| – | – |
-655,273
| Closed | -$7.32M |
|
994
Installed Building Products
IBP
$6.56B
| – | – |
-18,370
| Closed | -$659K |
|
995
Intuit
INTU
$100B
| – | – |
-361,177
| Closed | -$39.7M |
|
996
Invesco
IVZ
$14.1B
| – | – |
-25,236
| Closed | -$789K |
|
997
JB Hunt Transport Services
JBHT
$25.9B
| – | – |
-131,620
| Closed | -$10.7M |
|
998
Johnson Controls International
JCI
$86.7B
| – | – |
-321,933
| Closed | -$15M |
|
999
Korn Ferry
KFY
$4.37B
| – | – |
-91,274
| Closed | -$1.92M |
|
1000
Kraft Heinz
KHC
$30.3B
| – | – |
-129,862
| Closed | -$11.6M |
|
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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.