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
|
+$605M |
| 2 |
iShares 0-3 Month Treasury Bond ETF
SGOV
|
+$63.8M |
| 3 |
SFBS
ServisFirst Bancshares
SFBS
|
+$45.3M |
| 4 |
Vanguard S&P 500 ETF
VOO
|
+$31.8M |
| 5 |
EQT Corp
EQT
|
+$28.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Lennox International
LII
|
+$13.3M |
| 2 |
TripAdvisor
TRIP
|
+$12M |
| 3 |
International Paper
IP
|
+$11.6M |
| 4 |
Watsco Inc
WSO
|
+$11.5M |
| 5 |
Jacobs Solutions
J
|
+$11M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 18.07% |
| 2 | Industrials | 11.34% |
| 3 | Consumer Discretionary | 10.06% |
| 4 | Healthcare | 8.13% |
| 5 | Financials | 5.62% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1101
Invesco Variable Rate Preferred ETF
VRP
$3.03B
| $1.16M | 0.01% |
47,270
+21,874
| +86% | +$527K |
|
1102
Canadian National Railway
CNI
$78.5B
| $1.15M | 0.01% |
+11,075
| New | +$1.13M |
|
1103
Magna International
MGA
$19.5B
| $1.15M | 0.01% |
29,829
-39,277
| -57% | -$1.39M |
|
1104
Dick's Sporting Goods
DKS
$16.4B
| $1.15M | 0.01% |
5,806
-4,503
| -44% | -$834K |
|
1105
iShares International Select Dividend ETF
IDV
$8.68B
| $1.15M | 0.01% |
33,217
+8,217
| +33% | +$268K |
|
1106
Progyny
PGNY
$1.97B
| $1.14M | 0.01% |
51,864
+40,027
| +338% | +$878K |
|
1107
Vulcan Materials
VMC
$35.8B
| $1.14M | 0.01% |
+4,354
| New | +$1.12M |
|
1108
American International
AIG
$39.8B
| $1.13M | 0.01% |
13,252
-2,184
| -14% | -$182K |
|
1109
iShares MBS ETF
MBB
$39B
| $1.13M | 0.01% |
12,074
| – | – |
|
1110
Vanguard Intermediate-Term Treasury ETF
VGIT
$42.4B
| $1.13M | 0.01% |
18,844
| – | – |
|
1111
California Resources
CRC
$4.73B
| $1.12M | 0.01% |
+24,584
| New | +$1M |
|
1112
Donnelley Financial Solutions
DFIN
$1.19B
| $1.11M | 0.01% |
+18,026
| New | +$929K |
|
1113
State Street SPDR Dow Jones Industrial Average ETF Trust
DIA
$45.8B
| $1.1M | 0.01% |
2,500
| – | – |
|
|
SEZL
1114
Sezzle
SEZL
$4.01B
| $1.09M | 0.01% |
6,101
-5,374
| -47% | -$476K |
|
|
DMC
1115
Del Monte Corp
DMC
$1.48B
| $1.09M | 0.01% |
33,670
+12,081
| +56% | +$398K |
|
1116
Hallador Energy
HNRG
$725M
| $1.09M | 0.01% |
+68,844
| New | +$1.06M |
|
1117
Airbnb
ABNB
$110B
| $1.09M | 0.01% |
8,224
-7,323
| -47% | -$928K |
|
1118
Carlisle Companies
CSL
$14.6B
| $1.08M | 0.01% |
2,903
+109
| +4% | +$40.5K |
|
1119
Petco
WOOF
$811M
| $1.08M | 0.01% |
381,530
+191,762
| +101% | +$596K |
|
1120
First Trust Value Line Dividend Fund
FVD
$8.29B
| $1.07M | 0.01% |
+24,045
| New | +$1.06M |
|
|
GTLS
1121
DELISTED
Chart Industries
GTLS
| $1.07M | 0.01% |
6,522
-2,162
| -25% | -$318K |
|
1122
CGI
GIB
$15.5B
| $1.07M | 0.01% |
10,220
+2,666
| +35% | +$281K |
|
1123
Global X Defense Tech ETF
SHLD
$7.43B
| $1.07M | 0.01% |
17,702
+216
| +1% | +$11.6K |
|
1124
Cracker Barrel
CBRL
$1.29B
| $1.06M | 0.01% |
17,409
-16,150
| -48% | -$814K |
|
|
ESGR
1125
DELISTED
Enstar Group
ESGR
| $1.06M | 0.01% |
3,153
-198
| -6% | -$66.2K |
|
Similar funds
Joel Greenblatt's Q2 2025 Portfolio in Review
As of Q2 2025, Joel Greenblatt held 1,766 positions worth $16.7B, up 39% from $12B the previous quarter. Its ten largest holdings account for 27% of the portfolio.
Joel Greenblatt deployed $3.42B of net new capital in Q2 2025, opening 225 new positions and adding to 917 existing holdings. Its largest new stake was iShares Gold Trust: 165,240 shares worth $10.3M.
By sector, the portfolio is most concentrated in Technology at 18% of assets, up from 17% a quarter earlier, followed by Industrials and Consumer Discretionary.
On the sell side, the largest reduction was Lennox International, an estimated $13.3M trimmed.
- Joel Greenblatt's largest Q2 2025 buy was iShares Gold Trust: 165,240 shares worth $10.3M.
- Joel Greenblatt added most to State Street SPDR S&P 500 ETF Trust in Q2 2025, an estimated $605M increase.
- Joel Greenblatt's biggest Q2 2025 reduction was Lennox International, cutting an estimated $13.3M.
- Joel Greenblatt fully exited Paycor HCM, Inc. Common Stock in Q2 2025, selling an estimated $9.92M.
- Joel Greenblatt's ten largest holdings make up 27% of its $16.7B portfolio in Q2 2025.
- Joel Greenblatt opened 225 new positions and closed 111 in Q2 2025.
- Joel Greenblatt's portfolio value rose 39% quarter-over-quarter to $16.7B.
Based on Gotham Asset Management's 13F filing for Q2 2025, filed 14 Aug 2025.