Joel Greenblatt Gotham Asset Management
Joel Greenblatt is a co-founder of Gotham Asset Management and a well-known value investor, professor, and author. He gained wide recognition for The Little Book That Beats the Market and for popularizing a systematic value approach often called the “magic formula.” Greenblatt’s career spans special-situation investing, quantitative value strategies, and investor education.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$750M |
| 2 |
Vanguard Morningstar Value ETF
VTV
|
+$107M |
| 3 |
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
|
+$102M |
| 4 |
Airbnb
ABNB
|
+$96.7M |
| 5 |
Flowers Foods
FLO
|
+$41.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
HOLX
Hologic
HOLX
|
+$43.2M |
| 2 |
Packaging Corp of America
PKG
|
+$31.2M |
| 3 |
Carpenter Technology
CRS
|
+$22.7M |
| 4 |
K
Kellanova
K
|
+$22.5M |
| 5 |
James Hardie Industries
JHX
|
+$21.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 17.25% |
| 2 | Industrials | 12.14% |
| 3 | Consumer Discretionary | 10.27% |
| 4 | Healthcare | 7.47% |
| 5 | Financials | 5.43% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
251
Carpenter Technology
CRS
$24.4B
| $28.2M | 0.1% |
89,585
-75,537
| -46% | -$22.7M |
|
252
Sensata Technologies
ST
$6.23B
| $28.2M | 0.1% |
846,819
+42,704
| +5% | +$1.37M |
|
253
Generac Holdings
GNRC
$12.2B
| $28.1M | 0.1% |
205,983
-33,190
| -14% | -$5.36M |
|
254
Vanguard Total Bond Market
BND
$161B
| $27.9M | 0.1% |
377,226
+17,284
| +5% | +$1.29M |
|
255
iShares MSCI ACWI ETF
ACWI
$33.3B
| $27.6M | 0.1% |
195,402
+13,255
| +7% | +$1.86M |
|
|
AL
256
DELISTED
Air Lease Corp
AL
| $27.6M | 0.1% |
429,626
+194,678
| +83% | +$12.4M |
|
257
Teradyne
TER
$58.7B
| $27.6M | 0.1% |
142,511
+3,196
| +2% | +$548K |
|
258
DuPont de Nemours
DD
$18.7B
| $27.5M | 0.1% |
228,200
+109,193
| +92% | +$12.3M |
|
259
Cirrus Logic
CRUS
$5.78B
| $27.3M | 0.1% |
230,556
+41,758
| +22% | +$5.14M |
|
260
Howard Hughes
HHH
$3.97B
| $27.3M | 0.1% |
341,698
+4,499
| +1% | +$373K |
|
261
Madison Square Garden
MSGS
$9.78B
| $27.1M | 0.1% |
104,608
+27,040
| +35% | +$6.15M |
|
262
RTX Corp
RTX
$283B
| $27M | 0.1% |
147,153
+1,827
| +1% | +$317K |
|
263
Brunswick
BC
$5.24B
| $27M | 0.1% |
363,240
+105,163
| +41% | +$7.13M |
|
264
Salesforce
CRM
$171B
| $26.8M | 0.1% |
101,165
+32,831
| +48% | +$8.16M |
|
265
Reinsurance Group of America
RGA
$15.9B
| $26.7M | 0.1% |
131,221
+40,075
| +44% | +$7.75M |
|
266
Prologis
PLD
$135B
| $26.6M | 0.1% |
208,611
+87,464
| +72% | +$10.9M |
|
267
Waters Corp
WAT
$40.4B
| $26.6M | 0.1% |
70,057
-251
| -0.4% | -$92.4K |
|
268
Element Solutions
ESI
$8.6B
| $26.5M | 0.1% |
1,060,788
-384,102
| -27% | -$9.97M |
|
269
JB Hunt Transport Services
JBHT
$25.9B
| $26.5M | 0.1% |
136,348
-17,900
| -12% | -$3.07M |
|
270
Timken Company
TKR
$8.67B
| $26.4M | 0.1% |
313,790
+112,598
| +56% | +$8.96M |
|
271
Clean Harbors
CLH
$16.7B
| $26.3M | 0.1% |
112,294
+75,353
| +204% | +$17.2M |
|
272
HP
HPQ
$27.2B
| $26.3M | 0.1% |
1,181,075
-260,135
| -18% | -$6.63M |
|
273
Archer Daniels Midland
ADM
$38.7B
| $26.3M | 0.1% |
457,709
+75,931
| +20% | +$4.54M |
|
274
Agree Realty
ADC
$9.19B
| $26.3M | 0.1% |
364,533
+206,444
| +131% | +$15.1M |
|
275
Kroger
KR
$35.5B
| $26.2M | 0.1% |
420,064
+88,009
| +27% | +$5.76M |
|
Similar funds
Joel Greenblatt's Q4 2025 Portfolio in Review
As of Q4 2025, Joel Greenblatt held 1,837 positions worth $27.4B, up 19% from $23B the previous quarter. Its ten largest holdings account for 27% of the portfolio.
Joel Greenblatt deployed $3.96B of net new capital in Q4 2025, opening 161 new positions and adding to 940 existing holdings. Its largest new stake was CoreWeave: 275,001 shares worth $19.7M.
By sector, the portfolio is most concentrated in Technology at 17% of assets, down from 19% a quarter earlier, followed by Industrials and Consumer Discretionary.
On the sell side, the largest reduction was Packaging Corp of America, an estimated $31.2M trimmed.
- Joel Greenblatt's largest Q4 2025 buy was CoreWeave: 275,001 shares worth $19.7M.
- Joel Greenblatt added most to State Street SPDR S&P 500 ETF Trust in Q4 2025, an estimated $750M increase.
- Joel Greenblatt's biggest Q4 2025 reduction was Packaging Corp of America, cutting an estimated $31.2M.
- Joel Greenblatt fully exited Hologic in Q4 2025, selling an estimated $43.2M.
- Joel Greenblatt's ten largest holdings make up 27% of its $27.4B portfolio in Q4 2025.
- Joel Greenblatt opened 161 new positions and closed 118 in Q4 2025.
- Joel Greenblatt's portfolio value rose 19% quarter-over-quarter to $27.4B.
Based on Gotham Asset Management's 13F filing for Q4 2025, filed 17 Feb 2026.