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 | |
|---|---|---|---|---|---|---|
976
Moog Inc Class A
MOG.A
$12.3B
| – | – |
-3,658
| Closed | -$301K |
|
977
Marten Transport
MRTN
$1.22B
| – | – |
-25,413
| Closed | -$386K |
|
978
Morgan Stanley
MS
$336B
| – | – |
-31,907
| Closed | -$1.72M |
|
979
Mettler-Toledo International
MTD
$28B
| – | – |
-1,025
| Closed | -$589K |
|
980
MGIC Investment
MTG
$6.34B
| – | – |
-29,451
| Closed | -$383K |
|
981
Norwegian Cruise Line
NCLH
$7.92B
| – | – |
-6,197
| Closed | -$328K |
|
982
NextEra Energy
NEE
$174B
| – | – |
-228,392
| Closed | -$9.33M |
|
983
Ingevity
NGVT
$2.42B
| – | – |
-5,037
| Closed | -$371K |
|
984
National Healthcare
NHC
$3.66B
| – | – |
-4,068
| Closed | -$243K |
|
985
NN Inc
NNBR
$312M
| – | – |
-30,437
| Closed | -$730K |
|
986
NOV
NOV
$7.28B
| – | – |
-239,747
| Closed | -$8.82M |
|
987
NETSCOUT
NTCT
$2.8B
| – | – |
-19,048
| Closed | -$502K |
|
988
Nutanix
NTNX
$18.3B
| – | – |
-21,682
| Closed | -$1.06M |
|
989
Northern Trust
NTRS
$33.6B
| – | – |
-5,423
| Closed | -$559K |
|
990
NovoCure
NVCR
$1.99B
| – | – |
-30,924
| Closed | -$674K |
|
991
Quanex
NX
$931M
| – | – |
-14,774
| Closed | -$257K |
|
992
Realty Income
O
$59.2B
| – | – |
-5,691
| Closed | -$285K |
|
993
Owens Corning
OC
$11.7B
| – | – |
-301,966
| Closed | -$24.3M |
|
994
O-I Glass
OI
$1.1B
| – | – |
-173,701
| Closed | -$3.76M |
|
995
Oneok
OKE
$58.8B
| – | – |
-56,268
| Closed | -$3.2M |
|
996
OneMain Financial
OMF
$7.27B
| – | – |
-13,068
| Closed | -$391K |
|
997
Old Republic International
ORI
$10B
| – | – |
-12,135
| Closed | -$260K |
|
998
Oxford Industries
OXM
$540M
| – | – |
-5,097
| Closed | -$380K |
|
999
Bank OZK
OZK
$5.39B
| – | – |
-6,706
| Closed | -$324K |
|
1000
Pan American Silver
PAAS
$22B
| – | – |
-20,849
| Closed | -$337K |
|
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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.