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 | |
|---|---|---|---|---|---|---|
1076
Vanguard Russell 1000 Growth ETF
VONG
$45B
| $1.54M | 0.01% |
12,786
| – | – |
|
1077
iShares MSCI USA Equal Weighted ETF
EUSA
$1.95B
| $1.54M | 0.01% |
14,956
| – | – |
|
1078
EverQuote
EVER
$889M
| $1.53M | 0.01% |
66,995
+6,618
| +11% | +$160K |
|
1079
Q2 Holdings
QTWO
$3.99B
| $1.53M | 0.01% |
21,073
-18,873
| -47% | -$1.55M |
|
1080
Graphic Packaging
GPK
$3.54B
| $1.52M | 0.01% |
+77,834
| New | +$1.69M |
|
1081
DHT Holdings
DHT
$3.2B
| $1.51M | 0.01% |
125,990
+93,719
| +290% | +$1.09M |
|
1082
UiPath
PATH
$8.49B
| $1.5M | 0.01% |
112,364
-242,381
| -68% | -$2.87M |
|
1083
iShares Future Exponential Technologies ETF
XT
$3.97B
| $1.5M | 0.01% |
20,887
| – | – |
|
1084
Frontdoor
FTDR
$5.69B
| $1.49M | 0.01% |
22,098
+8,996
| +69% | +$548K |
|
1085
LiveRamp
RAMP
$2.28B
| $1.48M | 0.01% |
54,704
+2,594
| +5% | +$76.6K |
|
1086
Protagonist Therapeutics
PTGX
$9.99B
| $1.47M | 0.01% |
22,198
-15,089
| -40% | -$858K |
|
|
JHG
1087
DELISTED
Janus Henderson
JHG
| $1.47M | 0.01% |
32,922
| – | – |
|
1088
Victory Portfolios II VictoryShares Core Intermediate Bond ETF
UITB
$2.65B
| $1.46M | 0.01% |
30,732
| – | – |
|
1089
Knife River
KNF
$3.76B
| $1.45M | 0.01% |
18,845
-16
| -0.1% | -$1.31K |
|
1090
Corcept Therapeutics
CORT
$13.2B
| $1.44M | 0.01% |
17,362
+50
| +0.3% | +$3.62K |
|
1091
Hallador Energy
HNRG
$725M
| $1.44M | 0.01% |
73,724
+4,880
| +7% | +$83.9K |
|
1092
California Resources
CRC
$4.73B
| $1.44M | 0.01% |
27,120
+2,536
| +10% | +$127K |
|
1093
State Street SPDR Bloomberg High Yield Bond ETF
JNK
$6.66B
| $1.44M | 0.01% |
14,707
+1,495
| +11% | +$145K |
|
1094
State Street SPDR Portfolio Emerging Markets ETF
SPEM
$17.7B
| $1.44M | 0.01% |
30,705
+6,224
| +25% | +$277K |
|
1095
Progress Software
PRGS
$1.82B
| $1.44M | 0.01% |
32,692
+27,464
| +525% | +$1.27M |
|
1096
Astronics
ATRO
$3.35B
| $1.44M | 0.01% |
37,762
-19,117
| -34% | -$582K |
|
1097
Mercury Systems
MRCY
$5.49B
| $1.43M | 0.01% |
18,454
-24,315
| -57% | -$1.51M |
|
1098
Steel Dynamics
STLD
$32.8B
| $1.43M | 0.01% |
10,237
+101
| +1% | +$13.3K |
|
1099
State Street SPDR Portfolio S&P 600 Small Cap ETF
SPSM
$17.1B
| $1.42M | 0.01% |
30,639
| – | – |
|
1100
Invesco Preferred ETF
PGX
$3.72B
| $1.42M | 0.01% |
122,156
+9,434
| +8% | +$108K |
|
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.