Gotham Asset Management is a hedge fund established in New York with over $3 billion in equity assets under management. Starting in 1985 as Gotham Capital, the fund averaged a 30 percent annual return, net of all fees, until 1994, when it returned capital to shareholders and closed to outside investors. Gotham Asset Management was known for its expertise in spinoffs and other company reorganizations. The hedge fund launched four value-oriented mutual funds in 2010. By 2014, these funds had amassed over $1 billion in assets under management, demonstrating Greenblatt’s ability to find value stocks.
Insider Monkey picked 10 undervalued stocks to buy according to billionaire Joel Greenblatt. At the end of December 2021, Gotham Asset Management had 271,587 shares in NRG Energy, Inc. worth $11.7 million, accounting for 0.37 percent of the portfolio. Between October and December, the fund boosted its position in the electricity provider by 6%. Greenblatt owned Marathon Petroleum Corporation for a long time. During the fourth quarter, the fund reduced its holdings in the energy company by 3%. According to the most recent 13F filings, the hedge fund owned 181,905 shares in the firm for $11.6 million. At the conclusion of the fourth quarter of 2021, Gotham, the investment firm led by Greenblatt, had 207,816 shares in Verizon Communications Inc. valued at $10.7 million. Between October and December, the fund grew its position in the communications firm by 23%. At the end of the fourth quarter of 2021, Gotham Asset Management had 51,161 shares in Caterpillar Inc. worth $10.5 million, accounting for 0.34 percent of the portfolio. In the last four quarters, the fund has increased its existing interest in the company. EOG Resources, Inc. is a new addition to Greenblatt’s stock portfolio. At the conclusion of the fourth quarter of 2021, Gotham Asset Management had 118.036 shares in the company worth $10.4 million, accounting for 0.33 percent of the portfolio. For more details, click 10 Undervalued Stocks To Buy According To Billionaire Joel Greenblatt.
