ETFs
Joel Greenblatt Boosts S&P 500 ETF Trust Holdings in Q1 2024
Strategic moves highlighted in latest 13F filing
Joel Greenblatt (Professions, Wallet), a prominent figure in the investment world, recently disclosed its first quarter portfolio for 2024 via a 13F filing. As the founder and managing partner of Gotham Asset Management, LLC, Greenblatt is known for his Magic Formula Investing strategy, which aims to identify undervalued companies offering high returns on capital. His investment philosophy focuses on acquiring stocks for less than their true value, often with a catalyst to unlock price appreciation. Greenblatt’s expertise is also shared through his role as an assistant professor at Columbia Business School and his authorship of influential investment books like “The Little Book that Beats the Market.”
Joel Greenblatt Boosts S&P 500 ETF Trust Holdings in Q1 2024
Summary of new purchases
Joel Greenblatt (Professions, Wallet) expanded its portfolio by adding 166 new stocks. Notable new acquisitions include:
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Qorvo Inc (NASDAQ: QRVO), purchasing 104,363 shares, which now represent 0.18% of the portfolio, valued at $11.98 million.
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iShares iBoxx USD Investment Grade Corporate Bond ETF (LQD), with 93,930 stocks, representing approximately 0.15% of the portfolio, totaling $10.23 million.
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Cencora Inc (NYSE:COR), acquiring 19,191 shares, representing 0.07% of the portfolio, with a total value of $4.66 million.
Increases in key positions
Significant improvements have been made to existing positions, including:
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S&P 500 ETF TRUST (TO SPY), to which are added 256,837 shares, bringing the total to 1,248,759 shares. This adjustment increased the number of shares by 25.89%, impacting the current portfolio by 2.03%, with a total value of $653.19 million.
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NVIDIA Corp (NASDAQ:NVDA), adding 38,397 shares, now totaling 108,923 shares. This represents a 54.44% increase in the number of shares, valued at $98.42 million.
Summary of exhausted positions
Joel Greenblatt (Professions, Wallet) sold 124 positions in the first quarter of 2024, including:
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Splunk Inc. (SPLC), where all 59,052 shares were sold, impacting the portfolio by -0.17%.
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Concentrix Corp (NASDAQ:CNXC), with all 84,515 shares liquidated, resulting in an impact on the portfolio of -0.15%.
Key position reductions
Reductions were also notable in several farms:
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J.M. Smucker Co (NYSE: SJM) was reduced by 84,064 shares, a drop of -76.95%, impacting the portfolio by -0.2%. The stock traded at an average price of $126.61 during the quarter.
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Hologic Inc (NASDAQ:HOLX) experienced a decrease of 136,032 shares, a drop of -61.24%, impacting the portfolio by -0.18%. The average share price was $74.39 during the quarter.
The story continues
Portfolio Overview
From the first quarter of 2024, Joel Greenblatt (Professions, Wallet)’s portfolio included 1,368 stocks. The main titles were:
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9.86% in the S&P 500 ETF TRUST (TO SPY)
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5.45% in the Gotham Enhanced 500 ETF (GSPY)
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1.61% in the iShares Core S&P 500 ETF (IVV)
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1.49% in NVIDIA Corp (NASDAQ:NVDA)
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1.24% in Apple Inc (NASDAQ:AAPL)
Investments span all 11 sectors, with significant concentrations in the technology, industrials and consumer discretionary sectors.
Joel Greenblatt Boosts S&P 500 ETF Trust Holdings in Q1 2024
Joel Greenblatt Boosts S&P 500 ETF Trust Holdings in Q1 2024
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