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 | |
|---|---|---|---|---|---|---|
1001
IES Holdings
IESC
$12.9B
| $2.02M | 0.01% |
10,170
+6,012
| +145% | +$1.03M |
|
1002
State Street Consumer Discretionary Select Sector SPDR ETF
XLY
$23.3B
| $2.01M | 0.01% |
16,768
| – | – |
|
1003
US Bancorp
USB
$97.3B
| $2M | 0.01% |
41,404
+859
| +2% | +$40.6K |
|
1004
Viasat
VSAT
$9.96B
| $1.99M | 0.01% |
+68,006
| New | +$1.63M |
|
1005
iShares US Aerospace & Defense ETF
ITA
$14B
| $1.99M | 0.01% |
9,489
| – | – |
|
1006
State Street SPDR Portfolio S&P 500 Value ETF
SPYV
$36.9B
| $1.98M | 0.01% |
35,774
| – | – |
|
1007
Take-Two Interactive
TTWO
$43.7B
| $1.98M | 0.01% |
7,656
-1,476
| -16% | -$349K |
|
1008
Brixmor Property Group
BRX
$9.08B
| $1.95M | 0.01% |
70,414
+17,842
| +34% | +$478K |
|
1009
Pediatrix Medical
MD
$2.16B
| $1.94M | 0.01% |
116,093
+724
| +0.6% | +$10.9K |
|
1010
Groupon
GRPN
$798M
| $1.94M | 0.01% |
+83,125
| New | +$2.39M |
|
1011
World Kinect Corp
WKC
$1.82B
| $1.93M | 0.01% |
74,508
-18,140
| -20% | -$489K |
|
|
GRAL
1012
GRAIL Inc
GRAL
$3.42B
| $1.92M | 0.01% |
+32,395
| New | +$1.24M |
|
1013
Advanced Energy
AEIS
$11B
| $1.91M | 0.01% |
11,244
-2,980
| -21% | -$449K |
|
1014
CoStar Group
CSGP
$13.3B
| $1.91M | 0.01% |
22,651
+17,988
| +386% | +$1.59M |
|
1015
Celestica
CLS
$37.1B
| $1.9M | 0.01% |
7,727
-2,273
| -23% | -$458K |
|
1016
iShares US Financials ETF
IYF
$4.31B
| $1.9M | 0.01% |
15,022
+8,294
| +123% | +$1.03M |
|
1017
Diamondback Energy
FANG
$57.6B
| $1.9M | 0.01% |
13,288
-3,707
| -22% | -$528K |
|
1018
Adaptive Biotechnologies
ADPT
$4.08B
| $1.9M | 0.01% |
127,064
+55,177
| +77% | +$672K |
|
1019
Alkermes
ALKS
$8.2B
| $1.89M | 0.01% |
62,986
-70,486
| -53% | -$1.99M |
|
1020
Sempra
SRE
$55.3B
| $1.89M | 0.01% |
20,961
+14,540
| +226% | +$1.18M |
|
1021
Kinsale Capital Group
KNSL
$9.01B
| $1.88M | 0.01% |
4,416
+1,146
| +35% | +$519K |
|
1022
Nextpower Inc
NXT
$12.9B
| $1.87M | 0.01% |
25,327
-88,993
| -78% | -$5.73M |
|
1023
NuScale Power
SMR
$3.71B
| $1.87M | 0.01% |
51,966
-19,081
| -27% | -$760K |
|
1024
Sally Beauty Holdings
SBH
$1.56B
| $1.87M | 0.01% |
114,889
-52,364
| -31% | -$658K |
|
1025
CGI
GIB
$15.5B
| $1.86M | 0.01% |
20,901
+10,681
| +105% | +$1.03M |
|
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.