Insights into Joel Greenblatt (Trades, Portfolio)'s Fourth Quarter 2024 13F Filing

Joel Greenblatt (Trades, Portfolio) recently submitted the 13F filing for the fourth quarter of 2024, providing insights into his investment moves during this period. Known for the invention of Magic Formula Investing, and founder of the New York Securities Auction Corporation (NYSAC), Greenblatt is founder and managing partner of Gotham Asset Management, LLC. He is the author of two investment books, including "The Little Book that Beats the Market." He is also an Adjunct Professor with Columbia Business School. Greenblatt tries to find cheap and good companies. He looks for value with a catalyst, so nice things happen sooner. Greenblatt likes special situations, and thinks that they are simply different places to find cheap stocks. In his own hedge fund, Greenblatt uses the basic principals in the Magic Formula: Look for high ROC and high earnings yield. He tries to figure out what "normalized earnings" will be 3-4 years into the future. Greenblatt makes sure the stock is very cheap based on normalized earnings. You can view the Magic Formula Stocks on the following page: Magic Formula Stocks

Summary of New Buy

Joel Greenblatt (Trades, Portfolio) added a total of 154 stocks, among them:

The most significant addition was Talen Energy Corp (NASDAQ:TLN), with 36,437 shares, accounting for 0.07% of the portfolio and a total value of $7.34 million. The second largest addition to the portfolio was Acadia Healthcare Co Inc (NASDAQ:ACHC), consisting of 157,461 shares, representing approximately 0.06% of the portfolio, with a total value of $6.24 million. The third largest addition was Labcorp Holdings Inc (NYSE:LH), with 25,643 shares, accounting for 0.06% of the portfolio and a total value of $5.88 million.

Key Position Increases

Joel Greenblatt (Trades, Portfolio) also increased stakes in a total of 627 stocks, among them:

The most notable increase was SPDR S&P 500 ETF Trust (SPY), with an additional 525,517 shares, bringing the total to 2,384,018 shares. This adjustment represents a significant 28.28% increase in share count, a 2.92% impact on the current portfolio, with a total value of $1,397,225,270. The second largest increase was Apple Inc (NASDAQ:AAPL), with an additional 91,141 shares, bringing the total to 620,816. This adjustment represents a significant 17.21% increase in share count, with a total value of $155,464,740.

Summary of Sold Out

Joel Greenblatt (Trades, Portfolio) completely exited 137 holdings in the fourth quarter of 2024, as detailed below:

Story Continues

Marathon Oil Corp (MRO): Joel Greenblatt (Trades, Portfolio) sold all 919,314 shares, resulting in a -0.25% impact on the portfolio. Catalent Inc (NYSE:CTLT): Joel Greenblatt (Trades, Portfolio) liquidated all 60,376 shares, causing a -0.04% impact on the portfolio.

Key Position Reduces

Joel Greenblatt (Trades, Portfolio) also reduced positions in 587 stocks. The most significant changes include:

Reduced NVIDIA Corp (NASDAQ:NVDA) by 175,964 shares, resulting in an -8.03% decrease in shares and a -0.22% impact on the portfolio. The stock traded at an average price of $138.16 during the quarter and has returned -5.19% over the past 3 months and 3.61% year-to-date. Reduced Devon Energy Corp (NYSE:DVN) by 464,293 shares, resulting in a -91.82% reduction in shares and a -0.18% impact on the portfolio. The stock traded at an average price of $37.63 during the quarter and has returned -11.56% over the past 3 months and 5.73% year-to-date.

Portfolio Overview

At the fourth quarter of 2024, Joel Greenblatt (Trades, Portfolio)'s portfolio included 1,421 stocks, with top holdings including 13.25% in SPDR S&P 500 ETF Trust (SPY), 4.61% in Gotham Enhanced 500 ETF (GSPY), 2.57% in NVIDIA Corp (NASDAQ:NVDA), 1.47% in Apple Inc (NASDAQ:AAPL), and 1.29% in iShares Core S&P 500 ETF (IVV).

The holdings are mainly concentrated in all 11 industries: Technology, Industrials, Consumer Cyclical, Healthcare, Financial Services, Consumer Defensive, Communication Services, Energy, Basic Materials, Real Estate, and Utilities.

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.

This article first appeared on GuruFocus.

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