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 | |
|---|---|---|---|---|---|---|
1001
Kennametal
KMT
$2.28B
| – | – |
-92,878
| Closed | -$2.69M |
|
1002
CarMax
KMX
$8.82B
| – | – |
-111,639
| Closed | -$5.96M |
|
1003
Lithia Motors
LAD
$8.15B
| – | – |
-44,354
| Closed | -$4.24M |
|
1004
Stride
LRN
$3.51B
| – | – |
-20,379
| Closed | -$292K |
|
1005
Mondelez International
MDLZ
$82.3B
| – | – |
-139,291
| Closed | -$6.12M |
|
1006
MetLife
MET
$60B
| – | – |
-6,040
| Closed | -$239K |
|
1007
The Mosaic Company
MOS
$7.76B
| – | – |
-9,009
| Closed | -$220K |
|
1008
Marten Transport
MRTN
$1.22B
| – | – |
-86,178
| Closed | -$724K |
|
1009
Mine Safety
MSA
$7.31B
| – | – |
-9,655
| Closed | -$560K |
|
1010
Vail Resorts
MTN
$5.45B
| – | – |
-112,203
| Closed | -$17.6M |
|
1011
Murphy USA
MUSA
$10.5B
| – | – |
-11,508
| Closed | -$821K |
|
1012
Navient
NAVI
$886M
| – | – |
-11,478
| Closed | -$166K |
|
1013
Nabors Industries
NBR
$1.37B
| – | – |
-3,969
| Closed | -$2.41M |
|
1014
NOV
NOV
$7.28B
| – | – |
-210,853
| Closed | -$7.75M |
|
1015
Insperity
NSP
$2.02B
| – | – |
-31,800
| Closed | -$1.16M |
|
1016
Nucor
NUE
$55.3B
| – | – |
-23,383
| Closed | -$1.16M |
|
1017
New York Times
NYT
$10.6B
| – | – |
-60,901
| Closed | -$728K |
|
1018
Universal Display
OLED
$3.95B
| – | – |
-14,260
| Closed | -$792K |
|
1019
O'Reilly Automotive
ORLY
$72.1B
| – | – |
-118,710
| Closed | -$2.22M |
|
1020
OSI Systems
OSIS
$3.41B
| – | – |
-9,550
| Closed | -$624K |
|
1021
Oxford Industries
OXM
$540M
| – | – |
-9,987
| Closed | -$676K |
|
1022
Bank OZK
OZK
$5.39B
| – | – |
-6,473
| Closed | -$249K |
|
1023
Performance Food Group
PFGC
$16.5B
| – | – |
-21,913
| Closed | -$543K |
|
1024
Procter & Gamble
PG
$336B
| – | – |
-74,445
| Closed | -$6.68M |
|
1025
Polaris
PII
$3.66B
| – | – |
-116,128
| Closed | -$8.99M |
|
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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.