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 | |
|---|---|---|---|---|---|---|
551
New York Times
NYT
$10.6B
| $10.7M | 0.05% |
186,327
+81,155
| +77% | +$4.63M |
|
|
XYZ
552
Block Inc
XYZ
$49.4B
| $10.6M | 0.05% |
147,354
+99,570
| +208% | +$7.45M |
|
553
Idacorp
IDA
$7.94B
| $10.6M | 0.05% |
80,420
+53,181
| +195% | +$6.59M |
|
554
Kilroy Realty
KRC
$4.25B
| $10.6M | 0.05% |
250,984
+154,108
| +159% | +$6.08M |
|
555
Ingredion
INGR
$6.74B
| $10.6M | 0.05% |
86,425
-11,545
| -12% | -$1.49M |
|
556
Prudential Financial
PRU
$41.8B
| $10.5M | 0.05% |
101,379
+74,091
| +272% | +$7.8M |
|
|
ECG
557
Everus Construction Group
ECG
$6.43B
| $10.5M | 0.05% |
122,414
+15,144
| +14% | +$1.13M |
|
558
Centrus Energy
LEU
$3.72B
| $10.5M | 0.05% |
33,837
-8,270
| -20% | -$1.83M |
|
559
e.l.f. Beauty
ELF
$6.02B
| $10.4M | 0.05% |
78,857
+29,083
| +58% | +$3.59M |
|
560
Quest Diagnostics
DGX
$27B
| $10.4M | 0.05% |
54,694
+24,881
| +83% | +$4.42M |
|
561
Vanguard FTSE Emerging Markets ETF
VWO
$126B
| $10.4M | 0.05% |
192,132
+126,755
| +194% | +$6.53M |
|
562
Williams Companies
WMB
$86.2B
| $10.4M | 0.05% |
163,820
+87,107
| +114% | +$5.11M |
|
563
MDU Resources
MDU
$4.2B
| $10.4M | 0.05% |
581,393
+48,108
| +9% | +$803K |
|
564
Carrier Global
CARR
$49.8B
| $10.3M | 0.05% |
173,190
-64,509
| -27% | -$4.38M |
|
565
MGM Resorts International
MGM
$11B
| $10.3M | 0.04% |
297,489
+126,292
| +74% | +$4.63M |
|
566
Trane Technologies
TT
$99.8B
| $10.3M | 0.04% |
24,397
+16,480
| +208% | +$7.04M |
|
567
Sotera Health
SHC
$5.58B
| $10.3M | 0.04% |
652,877
+228,407
| +54% | +$3.21M |
|
568
iShares Core MSCI Total International Stock ETF
IXUS
$60.8B
| $10.2M | 0.04% |
124,095
| – | – |
|
569
Brown-Forman Class B
BF.B
$13.1B
| $10.2M | 0.04% |
378,270
+295,429
| +357% | +$8.56M |
|
570
Primerica
PRI
$9.1B
| $10.2M | 0.04% |
36,732
-2,300
| -6% | -$617K |
|
571
Cognizant
CTSH
$27.9B
| $10.2M | 0.04% |
151,696
+142,382
| +1,529% | +$10.3M |
|
572
Phillips 66
PSX
$96.9B
| $10.2M | 0.04% |
74,675
-47,395
| -39% | -$6.07M |
|
573
Texas Pacific Land
TPL
$26.5B
| $10.1M | 0.04% |
32,481
+19,911
| +158% | +$6.27M |
|
574
HCA Healthcare
HCA
$92.9B
| $10.1M | 0.04% |
23,615
+16,193
| +218% | +$6.28M |
|
575
Rexford Industrial Realty
REXR
$8.3B
| $10.1M | 0.04% |
244,712
+141,853
| +138% | +$5.55M |
|
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.