Strategic Moves Highlighted in Latest 13F Filing
Joel Greenblatt (Trades, Portfolio), a prominent figure in the investment world, recently disclosed his first-quarter portfolio for 2024 through a 13F filing. As the founder and managing partner of Gotham Asset Management, LLC, Greenblatt is renowned for his Magic Formula Investing—a strategy that aims to identify undervalued companies with high returns on capital. His investment philosophy focuses on acquiring stocks at a discount to their true value, often with a catalyst to unlock price appreciation. Greenblatt’s expertise is also shared through his role as an Adjunct Professor at Columbia Business School and his authorship of influential investment books like "The Little Book that Beats the Market."
Summary of New Buys
Joel Greenblatt (Trades, Portfolio) expanded his portfolio by adding 166 new stocks. Noteworthy new acquisitions include:
- Qorvo Inc (QRVO, Financial), purchasing 104,363 shares, which now represent 0.18% of the portfolio, valued at $11.98 million.
- iShares iBoxx USD Investment Grade Corporate Bond ETF (LQD, Financial), with 93,930 shares, making up about 0.15% of the portfolio, totaling $10.23 million.
- Cencora Inc (COR, Financial), acquiring 19,191 shares, accounting for 0.07% of the portfolio, with a total value of $4.66 million.
Key Position Increases
Significant enhancements were made to existing positions, including:
- S&P 500 ETF TRUST ETF (SPY, Financial), with an additional 256,837 shares, bringing the total to 1,248,759 shares. This adjustment increased the share count by 25.89%, impacting the current portfolio by 2.03%, with a total value of $653.19 million.
- NVIDIA Corp (NVDA, Financial), adding 38,397 shares, now totaling 108,923 shares. This represents a 54.44% increase in share count, valued at $98.42 million.
Summary of Sold Out Positions
Joel Greenblatt (Trades, Portfolio) exited 124 positions in the first quarter of 2024, including:
- Splunk Inc (SPLK, Financial), where all 59,052 shares were sold, impacting the portfolio by -0.17%.
- Concentrix Corp (CNXC, Financial), with all 84,515 shares liquidated, causing a -0.15% portfolio impact.
Key Position Reductions
Reductions were also notable in several holdings:
- JM Smucker Co (SJM, Financial) was reduced by 84,064 shares, a -76.95% decrease, impacting the portfolio by -0.2%. The stock traded at an average price of $126.61 during the quarter.
- Hologic Inc (HOLX, Financial) saw a reduction of 136,032 shares, a -61.24% decrease, impacting the portfolio by -0.18%. The stock's average trading price was $74.39 during the quarter.
Portfolio Overview
As of the first quarter of 2024, Joel Greenblatt (Trades, Portfolio)'s portfolio included 1,368 stocks. The top holdings were:
- 9.86% in S&P 500 ETF TRUST ETF (SPY, Financial)
- 5.45% in Gotham Enhanced 500 ETF (GSPY, Financial)
- 1.61% in iShares Core S&P 500 ETF (IVV, Financial)
- 1.49% in NVIDIA Corp (NVDA, Financial)
- 1.24% in Apple Inc (AAPL, Financial)
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
