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 |
PayPal
PYPL
|
+$60.9M |
| 2 |
RTN
Raytheon Company
RTN
|
+$48.5M |
| 3 |
IBM
IBM
|
+$48.3M |
| 4 |
Lockheed Martin
LMT
|
+$48.1M |
| 5 |
Constellation Brands
STZ
|
+$41.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Intuit
INTU
|
+$64M |
| 2 |
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
|
+$48.3M |
| 3 |
Boeing
BA
|
+$41.8M |
| 4 |
Automatic Data Processing
ADP
|
+$34.7M |
| 5 |
Home Depot
HD
|
+$34M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 21.44% |
| 2 | Technology | 18.51% |
| 3 | Consumer Discretionary | 15.16% |
| 4 | Healthcare | 13.95% |
| 5 | Consumer Staples | 10.78% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
976
Accuray
ARAY
$33.6M
| – | – |
-15,129
| Closed | -$68K |
|
977
Astec Industries
ASTE
$1B
| – | – |
-4,953
| Closed | -$250K |
|
978
AptarGroup
ATR
$8.57B
| – | – |
-43,470
| Closed | -$4.68M |
|
979
AeroVironment
AVAV
$8.14B
| – | – |
-22,844
| Closed | -$2.56M |
|
980
AZZ Inc
AZZ
$4.25B
| – | – |
-7,878
| Closed | -$398K |
|
981
Brink's
BCO
$4.59B
| – | – |
-31,996
| Closed | -$2.23M |
|
982
Brown-Forman Class B
BF.B
$13.1B
| – | – |
-200,339
| Closed | -$10.1M |
|
983
Bausch Health
BHC
$2.41B
| – | – |
-7,956
| Closed | -$204K |
|
984
Buckle
BKE
$2.26B
| – | – |
-34,706
| Closed | -$800K |
|
985
Bloomin' Brands
BLMN
$996M
| – | – |
-72,195
| Closed | -$1.43M |
|
|
BLUE
986
DELISTED
bluebird bio
BLUE
| – | – |
-376
| Closed | -$710K |
|
987
Boot Barn
BOOT
$5.01B
| – | – |
-19,841
| Closed | -$564K |
|
988
Baytex Energy
BTE
$3.36B
| – | – |
-19,010
| Closed | -$55K |
|
989
Cable One
CABO
$129M
| – | – |
-1,987
| Closed | -$1.76M |
|
990
CACI
CACI
$14.3B
| – | – |
-9,430
| Closed | -$1.74M |
|
991
Conagra Brands
CAG
$7.89B
| – | – |
-665,623
| Closed | -$22.6M |
|
992
Cato Corp
CATO
$58.3M
| – | – |
-34,872
| Closed | -$733K |
|
993
Churchill Downs
CHDN
$6.53B
| – | – |
-47,112
| Closed | -$2.18M |
|
994
Commercial Metals
CMC
$7.34B
| – | – |
-91,992
| Closed | -$1.89M |
|
995
Compass Minerals
CMP
$1.09B
| – | – |
-8,007
| Closed | -$538K |
|
996
CMS Energy
CMS
$21.4B
| – | – |
-63,212
| Closed | -$3.1M |
|
997
Comtech Telecommunications
CMTL
$53M
| – | – |
-7,737
| Closed | -$281K |
|
998
Cooper-Standard Automotive
CPS
$498M
| – | – |
-1,735
| Closed | -$208K |
|
999
Carter's
CRI
$1.31B
| – | – |
-6,558
| Closed | -$647K |
|
1000
Carpenter Technology
CRS
$24.4B
| – | – |
-6,027
| Closed | -$355K |
|
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Joel Greenblatt's Q4 2018 Portfolio in Review
As of Q4 2018, Joel Greenblatt held 1,186 positions worth $6.44B, down 11% from $7.24B the previous quarter. Its ten largest holdings account for 9.5% of the portfolio.
Joel Greenblatt deployed $382M of net new capital in Q4 2018, opening 269 new positions and adding to 355 existing holdings. Its largest new stake was PayPal: 731,138 shares worth $61.5M.
By sector, the portfolio is most concentrated in Industrials at 21% of assets, up from 18% a quarter earlier, followed by Technology and Consumer Discretionary.
On the sell side, the largest reduction was Twenty-First Century Fox, Inc. Class A, an estimated $48.3M trimmed.
- Joel Greenblatt's largest Q4 2018 buy was PayPal: 731,138 shares worth $61.5M.
- Joel Greenblatt added most to Raytheon Company in Q4 2018, an estimated $48.5M increase.
- Joel Greenblatt's biggest Q4 2018 reduction was Twenty-First Century Fox, Inc. Class A, cutting an estimated $48.3M.
- Joel Greenblatt fully exited Intuit in Q4 2018, selling an estimated $64M.
- Joel Greenblatt's ten largest holdings make up 9.5% of its $6.44B portfolio in Q4 2018.
- Joel Greenblatt opened 269 new positions and closed 221 in Q4 2018.
- Joel Greenblatt's portfolio value fell 11% quarter-over-quarter to $6.44B.
Based on Gotham Asset Management's 13F filing for Q4 2018, filed 14 Feb 2019.