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 | |
|---|---|---|---|---|---|---|
426
CSX Corp
CSX
$95.6B
| $15.5M | 0.07% |
435,899
+100,556
| +30% | +$3.43M |
|
427
Keurig Dr Pepper
KDP
$43.6B
| $15.4M | 0.07% |
604,526
-151,869
| -20% | -$4.76M |
|
428
Alliant Energy
LNT
$17.6B
| $15.4M | 0.07% |
228,004
+21,826
| +11% | +$1.41M |
|
429
Public Service Enterprise Group
PEG
$36.2B
| $15.4M | 0.07% |
183,967
+58,117
| +46% | +$4.87M |
|
430
ServiceNow
NOW
$133B
| $15.3M | 0.07% |
83,350
-7,735
| -8% | -$1.44M |
|
431
Keysight
KEYS
$53.8B
| $15.3M | 0.07% |
87,465
+47,027
| +116% | +$7.84M |
|
432
Alaska Air
ALK
$4.51B
| $15.3M | 0.07% |
307,136
-83,232
| -21% | -$4.63M |
|
433
Azenta
AZTA
$1.64B
| $15.3M | 0.07% |
532,303
+31,251
| +6% | +$969K |
|
434
Paylocity
PCTY
$8.14B
| $15.2M | 0.07% |
95,633
+17,536
| +22% | +$3.11M |
|
435
Etsy
ETSY
$7.44B
| $15.2M | 0.07% |
229,223
+2,294
| +1% | +$137K |
|
436
The Mosaic Company
MOS
$7.76B
| $15.2M | 0.07% |
437,214
-52,621
| -11% | -$1.81M |
|
437
Timken Company
TKR
$8.67B
| $15.1M | 0.07% |
201,192
-30,141
| -13% | -$2.32M |
|
438
Coherent
COHR
$56.7B
| $15.1M | 0.07% |
140,344
+7,196
| +5% | +$717K |
|
439
Chord Energy
CHRD
$8.09B
| $15.1M | 0.07% |
151,930
+48,547
| +47% | +$5.1M |
|
440
Caesars Entertainment
CZR
$6.06B
| $15M | 0.07% |
556,156
+130,540
| +31% | +$3.54M |
|
441
Honeywell
HON
$68.4B
| $15M | 0.07% |
75,655
+58,244
| +335% | +$12.2M |
|
|
AL
442
DELISTED
Air Lease Corp
AL
| $15M | 0.07% |
234,948
+50,911
| +28% | +$3.04M |
|
443
CNA Financial
CNA
$13.3B
| $14.9M | 0.06% |
320,826
+22,588
| +8% | +$1.05M |
|
444
Cleveland-Cliffs
CLF
$6.43B
| $14.9M | 0.06% |
1,217,945
+104,317
| +9% | +$1.1M |
|
445
Costco
COST
$420B
| $14.9M | 0.06% |
16,049
-310
| -2% | -$297K |
|
|
DOCU
446
DocuSign
DOCU
$11.8B
| $14.8M | 0.06% |
204,694
-14,394
| -7% | -$1.11M |
|
447
Invesco Ultra Short Duration ETF
GSY
$3.9B
| $14.7M | 0.06% |
293,000
+4,563
| +2% | +$229K |
|
448
Charter Communications
CHTR
$17.9B
| $14.7M | 0.06% |
53,451
+28,203
| +112% | +$8.52M |
|
|
CCC
449
CCC Intelligent Solutions
CCC
$4.39B
| $14.7M | 0.06% |
1,611,966
+753,354
| +88% | +$7.29M |
|
450
Constellation Brands
STZ
$23.2B
| $14.7M | 0.06% |
108,954
+56,241
| +107% | +$8.95M |
|
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.