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 | |
|---|---|---|---|---|---|---|
1
Honeywell
HON
$68.4B
| $76.8M | 1.19% |
616,976
+202,057
| +49% | +$27.6M |
|
2
Verizon
VZ
$205B
| $66M | 1.03% |
1,174,500
-309,945
| -21% | -$17.6M |
|
3
Apple
AAPL
$4.51T
| $65.4M | 1.02% |
1,659,276
+183,056
| +12% | +$8.87M |
|
4
Altria Group
MO
$110B
| $62.3M | 0.97% |
1,261,257
+462,959
| +58% | +$26.8M |
|
|
5
PayPal
PYPL
$52.7B
| $61.5M | 0.96% |
+731,138
| New | +$60.9M |
|
|
6
IBM
IBM
$222B
| $60.6M | 0.94% |
557,328
+402,093
| +259% | +$48.3M |
|
7
Amazon
AMZN
$2.79T
| $57.1M | 0.89% |
760,280
+37,920
| +5% | +$3.15M |
|
8
Alphabet (Google) Class A
GOOGL
$4.22T
| $55.5M | 0.86% |
1,061,740
+151,700
| +17% | +$8.2M |
|
9
RTX Corp
RTX
$283B
| $53.3M | 0.83% |
796,037
+133,028
| +20% | +$10.4M |
|
10
Walmart Inc
WMT
$825B
| $51.8M | 0.81% |
1,668,582
-1,046,328
| -39% | -$33.5M |
|
|
RTN
11
DELISTED
Raytheon Company
RTN
| $51M | 0.79% |
332,292
+270,918
| +441% | +$48.5M |
|
12
Micron Technology
MU
$1.09T
| $50.8M | 0.79% |
1,600,189
+217,588
| +16% | +$8.25M |
|
|
13
Lockheed Martin
LMT
$130B
| $49.6M | 0.77% |
189,582
+158,606
| +512% | +$48.1M |
|
14
Procter & Gamble
PG
$336B
| $47.2M | 0.73% |
513,105
-80,862
| -14% | -$7.23M |
|
15
HP
HPQ
$27.2B
| $46M | 0.71% |
2,246,196
+355,527
| +19% | +$8.29M |
|
16
3M
MMM
$92.3B
| $43.4M | 0.67% |
272,323
+115,861
| +74% | +$19.2M |
|
17
Johnson & Johnson
JNJ
$651B
| $42.4M | 0.66% |
328,376
-36,757
| -10% | -$5.13M |
|
18
Cigna
CI
$73.3B
| $42M | 0.65% |
221,113
+163,135
| +281% | +$34M |
|
19
Philip Morris
PM
$293B
| $41.1M | 0.64% |
616,037
-75,179
| -11% | -$6.28M |
|
20
Microsoft
MSFT
$3.59T
| $40.9M | 0.64% |
402,739
+72,065
| +22% | +$7.72M |
|
21
Applied Materials
AMAT
$391B
| $39.7M | 0.62% |
1,213,740
+1,185,407
| +4,184% | +$40.6M |
|
|
CELG
22
DELISTED
Celgene Corp
CELG
| $39.6M | 0.62% |
617,900
+290,195
| +89% | +$21.4M |
|
23
PepsiCo
PEP
$196B
| $38.2M | 0.59% |
346,201
-77,209
| -18% | -$8.71M |
|
24
Walt Disney
DIS
$186B
| $38M | 0.59% |
346,458
-155,877
| -31% | -$17.7M |
|
25
CSX Corp
CSX
$95.6B
| $37.9M | 0.59% |
1,829,196
+752,022
| +70% | +$17.3M |
|
Similar funds
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.