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 |
Corning
GLW
|
+$45.4M |
| 2 |
Kroger
KR
|
+$41.1M |
| 3 |
Boston Scientific
BSX
|
+$38M |
| 4 |
Campbell Soup
CPB
|
+$35M |
| 5 |
VF Corp
VFC
|
+$34.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Booking.com
BKNG
|
+$46.8M |
| 2 |
NVIDIA
NVDA
|
+$41.5M |
| 3 |
Philip Morris
PM
|
+$33.6M |
| 4 |
Home Depot
HD
|
+$33.1M |
| 5 |
Altria Group
MO
|
+$30.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 21.9% |
| 2 | Technology | 19.29% |
| 3 | Healthcare | 18.85% |
| 4 | Consumer Discretionary | 15.9% |
| 5 | Consumer Staples | 9.29% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1001
Clorox
CLX
$12.9B
| – | – |
-7,062
| Closed | -$848K |
|
1002
Commercial Metals
CMC
$7.34B
| – | – |
-167,342
| Closed | -$3.65M |
|
1003
Cimpress
CMPR
$2.13B
| – | – |
-14,864
| Closed | -$1.36M |
|
1004
CNO Financial Group
CNO
$4.95B
| – | – |
-18,367
| Closed | -$352K |
|
1005
Coty
COTY
$2.41B
| – | – |
-44,066
| Closed | -$807K |
|
1006
Costco
COST
$420B
| – | – |
-11,059
| Closed | -$1.77M |
|
1007
Copart
CPRT
$31.3B
| – | – |
-154,688
| Closed | -$1.07M |
|
1008
CoStar Group
CSGP
$13.1B
| – | – |
-69,310
| Closed | -$1.31M |
|
1009
Cintas
CTAS
$81.6B
| – | – |
-80,032
| Closed | -$2.31M |
|
|
CVGW
1010
DELISTED
Calavo Growers
CVGW
| – | – |
-12,848
| Closed | -$789K |
|
1011
Darling Ingredients
DAR
$10.4B
| – | – |
-13,692
| Closed | -$177K |
|
1012
DHT Holdings
DHT
$3.2B
| – | – |
-69,768
| Closed | -$289K |
|
1013
Dolby
DLB
$6.11B
| – | – |
-17,201
| Closed | -$777K |
|
1014
Deluxe
DLX
$1.08B
| – | – |
-14,709
| Closed | -$1.05M |
|
1015
Domino's
DPZ
$11.3B
| – | – |
-22,401
| Closed | -$3.57M |
|
1016
DTE Energy
DTE
$28.1B
| – | – |
-5,096
| Closed | -$427K |
|
1017
Duke Energy
DUK
$93.4B
| – | – |
-27,589
| Closed | -$2.14M |
|
|
EA
1018
DELISTED
Electronic Arts
EA
| – | – |
-39,678
| Closed | -$3.13M |
|
1019
Consolidated Edison
ED
$39.3B
| – | – |
-5,511
| Closed | -$406K |
|
1020
Euronet Worldwide
EEFT
$2.62B
| – | – |
-53,584
| Closed | -$3.88M |
|
1021
Equifax
EFX
$22.6B
| – | – |
-10,139
| Closed | -$1.2M |
|
1022
Eastman Chemical
EMN
$8.47B
| – | – |
-43,848
| Closed | -$3.3M |
|
1023
Enovis
ENOV
$1.5B
| – | – |
-3,246
| Closed | -$201K |
|
1024
Enerpac Tool Group
EPAC
$1.9B
| – | – |
-35,735
| Closed | -$927K |
|
1025
Ericsson
ERIC
$33.5B
| – | – |
-23,094
| Closed | -$135K |
|
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Joel Greenblatt's Q1 2017 Portfolio in Review
As of Q1 2017, Joel Greenblatt held 1,193 positions worth $7.88B, up 1.4% from $7.77B the previous quarter. Its ten largest holdings account for 9% of the portfolio.
Joel Greenblatt withdrew a net $245M in Q1 2017, closing 219 positions and reducing 368 holdings. Its most notable exit was State Street SPDR S&P 500 ETF Trust, an estimated $28.8M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 22% of assets, down from 23% a quarter earlier, followed by Technology and Healthcare.
Against the trend, Joel Greenblatt opened a new position in Kroger worth $38M.
- Joel Greenblatt's largest Q1 2017 buy was Kroger: 1,287,571 shares worth $38M.
- Joel Greenblatt added most to Corning in Q1 2017, an estimated $45.4M increase.
- Joel Greenblatt's biggest Q1 2017 reduction was Booking.com, cutting an estimated $46.8M.
- Joel Greenblatt fully exited State Street SPDR S&P 500 ETF Trust in Q1 2017, selling an estimated $28.8M.
- Joel Greenblatt's ten largest holdings make up 9% of its $7.88B portfolio in Q1 2017.
- Joel Greenblatt opened 269 new positions and closed 219 in Q1 2017.
- Joel Greenblatt's portfolio value rose 1.4% quarter-over-quarter to $7.88B.
Based on Gotham Asset Management's 13F filing for Q1 2017, filed 15 May 2017.