Joel Greenblatt‘s hedge fund, Gotham Asset Management, is one of the institutional investors who recently filed their Q2 13F form with the Securities and Exchange Commission. These 13F filings are used to by hedge funds to disclose the contents of their equity portfolios at the end of each calendar quarter. Over the long-run, piggyback investors have found it possible to beat the market by 18 percentage points per year by paying attention to the right parts of this data.
As follows, let’s take a look at some top picks from the equity portfolio of Gotham Asset Management. As of the end of June, the hedge fund disclosed its largest stake, which involves about 1.2 million shares of Warner Chilcott Plc (NASDAQ:WCRX), the value of the stake amounting to $24.4 million.
During the second quarter of the year, the hedge fund’s stake in Warner Chilcott declined by almost 142,000 shares. The stock of Warner Chilcott Plc (NASDAQ:WCRX) has a year-to-date return above 78%, while its forward P/E amounts to almost 7. Aside from Gotham Asset Management, we can mention some other hedge funds invested in Warner Chilcott, such as: Steven Cohen’s Sac Capital Advisors, Jacob Gottlieb’s Visium Asset Management and D. E. Shaw’s D E Shaw, among others.
The next on the list is United Therapeutics Corporation (NASDAQ:UTHR), in which Gotham Asset Management’s stake contains 341,330 shares, up by 45,409 shares over the quarter. The value of the stake amounts to $22.5 million. In the previous round of 13F filings, Gotham Asset Management’s stake was worth $18 million. The year-to-date return of United Therapeutics Corporation (NASDAQ:UTHR)’s stock is almost 34%, and it trades at a forward P/E ratio of 10.0x. This looks like more value for the “Magic Formula” investor.
Aside from Warner Chilcott Plc (NASDAQ:WCRX) and United Therapeutics, top picks from Gotham Asset Management’s 13F also include Seagate Technology PLC (NASDAQ:STX), in which the hedge fund disclosed ownership of 452,094 shares, worth $20.3 million, up by 11,215 shares over the quarter. GameStop Corp. (NYSE:GME), represented in Joel Greenblatt’s 13F portfolio by a $19.8 million position, saw the size of its stake fall by nearly one-third. NVIDIA Corporation (NASDAQ:NVDA), meanwhile, is Greenblatt’s fifth largest equity holding, and saw a slight boost last quarter.
On the whole, the latest 13F of Gotham Asset Management disclosed more than 800 positions and has a market value of $2.3 billion.