Legendary Value Investor Joel Greenblatt Loves These 5 Stocks

3. The Coca-Cola Company (NYSE:KO)

Number of Hedge Fund Holders: 70

The Coca-Cola Company (NYSE:KO) is a beverage company based in Georgia. Securities filings show that Greenblatt’s investment firm owned 283,982 shares in the firm at the end of December 2021 worth $16.8 million, representing 0.54% of the portfolio. The fund increased its stake in the company by 31% in the fourth quarter compared to third quarter filings. 

Gotham Asset Management first purchased a stake in The Coca-Cola Company (NYSE:KO) during the third quarter of 2012. The stake comprised 8,500 shares bought at an average price of $38 per share. The fund has since added to that holding handsomely. In the last three quarters, the fund has been loading up on the stock, increasing stake in the firm by 3%, 76%, and over 30% respectively. 

Among the hedge funds being tracked by Insider Monkey, Nebraska-based firm Berkshire Hathaway is a leading shareholder in The Coca-Cola Company (NYSE:KO) with 400 million shares worth more than $23 billion.