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 | |
|---|---|---|---|---|---|---|
|
1
CVS Health
CVS
$119B
| $83.3M | 1.07% |
1,055,841
+615,182
| +140% | +$49.8M |
|
2
Cisco
CSCO
$438B
| $75.3M | 0.97% |
2,491,798
+286,684
| +13% | +$8.74M |
|
3
Boeing
BA
$169B
| $74.5M | 0.96% |
478,731
+179,884
| +60% | +$26.3M |
|
4
Gilead Sciences
GILD
$181B
| $73.4M | 0.95% |
1,025,203
+101,669
| +11% | +$7.56M |
|
5
Qualcomm
QCOM
$169B
| $72.6M | 0.93% |
1,112,953
+43,220
| +4% | +$2.9M |
|
|
ESRX
6
DELISTED
Express Scripts Holding Company
ESRX
| $70.9M | 0.91% |
1,030,287
+158,530
| +18% | +$11.4M |
|
7
Biogen
BIIB
$32B
| $68.1M | 0.88% |
240,311
-5,157
| -2% | -$1.53M |
|
8
AbbVie
ABBV
$468B
| $58.6M | 0.75% |
935,437
+251,081
| +37% | +$15.3M |
|
|
WBA
9
DELISTED
Walgreens Boots Alliance
WBA
| $56.9M | 0.73% |
687,941
-143,842
| -17% | -$11.9M |
|
10
Baxter International
BAX
$13.6B
| $56.4M | 0.73% |
1,271,879
+633,816
| +99% | +$29.3M |
|
11
Delta Air Lines
DAL
$54.2B
| $55.9M | 0.72% |
1,137,022
-553,933
| -33% | -$25.3M |
|
|
12
Trane Technologies
TT
$99.8B
| $55.8M | 0.72% |
743,151
+733,227
| +7,388% | +$52.9M |
|
|
13
Booking.com
BKNG
$158B
| $55.6M | 0.72% |
947,900
+782,875
| +474% | +$46.8M |
|
14
Emerson Electric
EMR
$87.7B
| $55.1M | 0.71% |
988,116
-99,963
| -9% | -$5.38M |
|
15
Johnson & Johnson
JNJ
$651B
| $54.8M | 0.71% |
475,722
+261,679
| +122% | +$30.2M |
|
16
Target
TGT
$75.1B
| $54.6M | 0.7% |
756,302
+90,807
| +14% | +$6.57M |
|
|
TFCFA
17
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
| $51M | 0.66% |
1,817,468
-716,428
| -28% | -$19.3M |
|
18
Verizon
VZ
$205B
| $50.6M | 0.65% |
947,663
-422,097
| -31% | -$21.1M |
|
19
Tyson Foods
TSN
$20.6B
| $49.9M | 0.64% |
808,983
+419,104
| +107% | +$27.6M |
|
20
Applied Materials
AMAT
$391B
| $46.8M | 0.6% |
1,450,470
-65,937
| -4% | -$2.01M |
|
21
Altria Group
MO
$110B
| $46M | 0.59% |
680,134
+232,892
| +52% | +$15M |
|
22
Amgen
AMGN
$238B
| $45.5M | 0.59% |
311,380
+42,176
| +16% | +$6.35M |
|
23
eBay
EBAY
$46.3B
| $45.5M | 0.59% |
1,530,865
-538,899
| -26% | -$15.9M |
|
24
NVIDIA
NVDA
$5.2T
| $44.3M | 0.57% |
16,583,120
-990,000
| -6% | -$2.07M |
|
25
Texas Instruments
TXN
$241B
| $43.9M | 0.56% |
601,237
+247,444
| +70% | +$17.7M |
|
Similar funds
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.