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
|
+$59.7M |
| 2 |
Lowe's Companies
LOW
|
+$54.1M |
| 3 |
FedEx
FDX
|
+$48.8M |
| 4 |
Marriott International
MAR
|
+$37.8M |
| 5 |
Hilton Worldwide
HLT
|
+$36.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Boeing
BA
|
+$47.5M |
| 2 |
Qualcomm
QCOM
|
+$43.9M |
| 3 |
Boston Scientific
BSX
|
+$43.5M |
| 4 |
Baxter International
BAX
|
+$42.4M |
| 5 |
Corning
GLW
|
+$42M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 20.19% |
| 2 | Technology | 20.13% |
| 3 | Consumer Discretionary | 16.87% |
| 4 | Healthcare | 16.68% |
| 5 | Consumer Staples | 9.56% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
976
Coherus Oncology
CHRS
$219M
| – | – |
-36,380
| Closed | -$769K |
|
977
Columbus McKinnon
CMCO
$509M
| – | – |
-13,742
| Closed | -$341K |
|
978
Conduent
CNDT
$250M
| – | – |
-908,024
| Closed | -$15.2M |
|
979
Crocs
CROX
$5.85B
| – | – |
-54,411
| Closed | -$385K |
|
|
CSGS
980
DELISTED
CSG Systems International
CSGS
| – | – |
-56,710
| Closed | -$2.14M |
|
981
Carlisle Companies
CSL
$14.6B
| – | – |
-114,274
| Closed | -$12.2M |
|
|
CSW
982
CSW Industrials
CSW
$5.38B
| – | – |
-7,062
| Closed | -$259K |
|
983
Civeo
CVEO
$357M
| – | – |
-899
| Closed | -$32K |
|
984
Camping World
CWH
$676M
| – | – |
-41,191
| Closed | -$1.33M |
|
985
Casella Waste Systems
CWST
$5.86B
| – | – |
-16,420
| Closed | -$232K |
|
|
DENN
986
DELISTED
Denny's
DENN
| – | – |
-21,352
| Closed | -$264K |
|
987
Danaher
DHR
$154B
| – | – |
-303,781
| Closed | -$23M |
|
988
Delek US
DK
$4.38B
| – | – |
-391,192
| Closed | -$9.49M |
|
989
DNOW Inc
DNOW
$2.83B
| – | – |
-67,160
| Closed | -$1.14M |
|
990
Ennis
EBF
$546M
| – | – |
-18,660
| Closed | -$317K |
|
991
Edison International
EIX
$27.5B
| – | – |
-12,834
| Closed | -$1.02M |
|
992
Edgewell Personal Care
EPC
$1.32B
| – | – |
-2,824
| Closed | -$207K |
|
993
Eversource Energy
ES
$26.4B
| – | – |
-10,406
| Closed | -$612K |
|
994
Eaton
ETN
$163B
| – | – |
-81,395
| Closed | -$6.04M |
|
995
Entergy
ETR
$48.8B
| – | – |
-45,478
| Closed | -$1.73M |
|
996
Exelon
EXC
$45.1B
| – | – |
-94,432
| Closed | -$2.42M |
|
997
Expedia Group
EXPE
$38.6B
| – | – |
-6,735
| Closed | -$850K |
|
998
Exponent
EXPO
$3.34B
| – | – |
-13,224
| Closed | -$394K |
|
999
Extra Space Storage
EXR
$31B
| – | – |
-15,221
| Closed | -$1.13M |
|
1000
First American
FAF
$7.33B
| – | – |
-8,854
| Closed | -$348K |
|
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Joel Greenblatt's Q2 2017 Portfolio in Review
As of Q2 2017, Joel Greenblatt held 1,194 positions worth $7.13B, down 9.5% from $7.88B the previous quarter. Its ten largest holdings account for 8.3% of the portfolio.
Joel Greenblatt withdrew a net $741M in Q2 2017, closing 245 positions and reducing 411 holdings. Its most notable exit was Raytheon Company, an estimated $23.3M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 20% of assets, down from 22% a quarter earlier, followed by Technology and Consumer Discretionary.
Against the trend, Joel Greenblatt opened a new position in Intuit worth $61.1M.
- Joel Greenblatt's largest Q2 2017 buy was Intuit: 460,059 shares worth $61.1M.
- Joel Greenblatt added most to Lowe's Companies in Q2 2017, an estimated $54.1M increase.
- Joel Greenblatt's biggest Q2 2017 reduction was Boeing, cutting an estimated $47.5M.
- Joel Greenblatt fully exited Raytheon Company in Q2 2017, selling an estimated $23.3M.
- Joel Greenblatt's ten largest holdings make up 8.3% of its $7.13B portfolio in Q2 2017.
- Joel Greenblatt opened 220 new positions and closed 245 in Q2 2017.
- Joel Greenblatt's portfolio value fell 9.5% quarter-over-quarter to $7.13B.
Based on Gotham Asset Management's 13F filing for Q2 2017, filed 14 Aug 2017.