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
|
+$809M |
| 2 |
Apple
AAPL
|
+$122M |
| 3 |
NVIDIA
NVDA
|
+$103M |
| 4 |
Snowflake
SNOW
|
+$83.4M |
| 5 |
iShares 0-3 Month Treasury Bond ETF
SGOV
|
+$80.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AMED
Amedisys
AMED
|
+$33.7M |
| 2 |
ANSS
Ansys
ANSS
|
+$29.2M |
| 3 |
PPG Industries
PPG
|
+$19.8M |
| 4 |
Lockheed Martin
LMT
|
+$17.5M |
| 5 |
SFBS
ServisFirst Bancshares
SFBS
|
+$17M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 18.53% |
| 2 | Industrials | 12.02% |
| 3 | Consumer Discretionary | 9.89% |
| 4 | Healthcare | 7.59% |
| 5 | Financials | 5.4% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
SGI
301
Somnigroup International
SGI
$13.6B
| $20.8M | 0.09% |
+246,538
| New | +$19.4M |
|
302
Cboe Global Markets
CBOE
$31.4B
| $20.8M | 0.09% |
84,724
+3,464
| +4% | +$832K |
|
303
JB Hunt Transport Services
JBHT
$25.9B
| $20.7M | 0.09% |
154,248
+124,542
| +419% | +$17.9M |
|
304
Chubb
CB
$132B
| $20.6M | 0.09% |
73,134
+16,030
| +28% | +$4.41M |
|
|
CIVI
305
DELISTED
Civitas Resources
CIVI
| $20.6M | 0.09% |
635,100
+188,114
| +42% | +$6.02M |
|
306
United Parcel Service
UPS
$86.8B
| $20.6M | 0.09% |
246,238
+115,457
| +88% | +$10.5M |
|
307
Cognex
CGNX
$10.2B
| $20.6M | 0.09% |
453,996
+3,968
| +0.9% | +$161K |
|
308
Teleflex
TFX
$5.88B
| $20.5M | 0.09% |
167,857
+70,685
| +73% | +$8.57M |
|
|
AXON
309
Axon Enterprise
AXON
$51B
| $20.5M | 0.09% |
28,595
-5,787
| -17% | -$4.39M |
|
310
iShares Gold Trust
IAU
$68.4B
| $20.4M | 0.09% |
280,413
+115,173
| +70% | +$7.51M |
|
311
WEC Energy
WEC
$34.5B
| $20.3M | 0.09% |
177,572
+80,259
| +82% | +$8.7M |
|
|
IPG
312
DELISTED
Interpublic Group of Companies
IPG
| $20.3M | 0.09% |
726,400
+279,751
| +63% | +$7.22M |
|
313
Marriott International
MAR
$92.9B
| $20.2M | 0.09% |
77,683
+32,906
| +73% | +$8.84M |
|
314
Paychex
PAYX
$44.3B
| $20.1M | 0.09% |
158,611
+38,812
| +32% | +$5.38M |
|
|
MRP
315
Millrose Properties Inc
MRP
$5.05B
| $20.1M | 0.09% |
596,993
+82,240
| +16% | +$2.66M |
|
316
Incyte
INCY
$25.9B
| $19.9M | 0.09% |
234,428
+46,603
| +25% | +$3.68M |
|
317
Norfolk Southern
NSC
$78.8B
| $19.8M | 0.09% |
65,880
+62,073
| +1,630% | +$17.2M |
|
318
Boston Scientific
BSX
$73B
| $19.6M | 0.09% |
201,112
+126,595
| +170% | +$13.1M |
|
319
Amdocs
DOX
$6.41B
| $19.6M | 0.09% |
239,093
+20,207
| +9% | +$1.75M |
|
320
Vanguard Intermediate-Term Treasury ETF
VGIT
$42.4B
| $19.6M | 0.09% |
326,305
+307,461
| +1,632% | +$18.4M |
|
321
Uber
UBER
$161B
| $19.6M | 0.09% |
199,711
+59,248
| +42% | +$5.54M |
|
322
Bunge Global
BG
$21.7B
| $19.6M | 0.09% |
240,717
-84,201
| -26% | -$6.75M |
|
323
News Corp Class A
NWSA
$16.4B
| $19.5M | 0.08% |
634,068
+405,512
| +177% | +$12M |
|
324
Fastenal
FAST
$58.8B
| $19.5M | 0.08% |
396,811
+1,055
| +0.3% | +$49.8K |
|
325
Nike
NKE
$60.5B
| $19.5M | 0.08% |
278,962
+125,833
| +82% | +$9.38M |
|
Similar funds
Joel Greenblatt's Q3 2025 Portfolio in Review
As of Q3 2025, Joel Greenblatt held 1,842 positions worth $23B, up 37% from $16.7B the previous quarter. Its ten largest holdings account for 28% of the portfolio.
Joel Greenblatt deployed $5.02B of net new capital in Q3 2025, opening 187 new positions and adding to 950 existing holdings. Its largest new stake was James Hardie Industries: 1,564,473 shares worth $30.1M.
By sector, the portfolio is most concentrated in Technology at 19% of assets, up from 18% a quarter earlier, followed by Industrials and Consumer Discretionary.
On the sell side, the largest reduction was PPG Industries, an estimated $19.8M trimmed.
- Joel Greenblatt's largest Q3 2025 buy was James Hardie Industries: 1,564,473 shares worth $30.1M.
- Joel Greenblatt added most to State Street SPDR S&P 500 ETF Trust in Q3 2025, an estimated $809M increase.
- Joel Greenblatt's biggest Q3 2025 reduction was PPG Industries, cutting an estimated $19.8M.
- Joel Greenblatt fully exited Amedisys in Q3 2025, selling an estimated $33.7M.
- Joel Greenblatt's ten largest holdings make up 28% of its $23B portfolio in Q3 2025.
- Joel Greenblatt opened 187 new positions and closed 166 in Q3 2025.
- Joel Greenblatt's portfolio value rose 37% quarter-over-quarter to $23B.
Based on Gotham Asset Management's 13F filing for Q3 2025, filed 14 Nov 2025.