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 | |
|---|---|---|---|---|---|---|
101
Ralph Lauren
RL
$22.2B
| $36.5M | 0.16% |
116,516
-8,255
| -7% | -$2.46M |
|
102
Element Solutions
ESI
$8.6B
| $36.4M | 0.16% |
1,444,890
+577,934
| +67% | +$14.4M |
|
103
Omnicom Group
OMC
$24B
| $36.3M | 0.16% |
445,107
+66,394
| +18% | +$5.01M |
|
104
Essential Utilities
WTRG
$11.4B
| $36.2M | 0.16% |
907,809
+569,210
| +168% | +$21.7M |
|
105
Dell
DELL
$286B
| $36.1M | 0.16% |
254,908
+58,709
| +30% | +$7.62M |
|
106
Williams-Sonoma
WSM
$28B
| $36.1M | 0.16% |
184,595
+12,871
| +7% | +$2.46M |
|
107
Ubiquiti
UI
$33.8B
| $35.9M | 0.16% |
54,377
+10,994
| +25% | +$5.49M |
|
108
Conagra Brands
CAG
$7.89B
| $35.6M | 0.15% |
1,943,344
+1,083,648
| +126% | +$20.8M |
|
109
HF Sinclair
DINO
$17.3B
| $35.6M | 0.15% |
679,788
+276,306
| +68% | +$13.1M |
|
110
CF Industries
CF
$19.6B
| $35.5M | 0.15% |
396,062
+8,715
| +2% | +$777K |
|
111
Regal Rexnord
RRX
$11.1B
| $35.3M | 0.15% |
245,933
+44,413
| +22% | +$6.55M |
|
|
HI
112
DELISTED
Hillenbrand
HI
| $35.2M | 0.15% |
1,301,708
+590,977
| +83% | +$13.9M |
|
113
NRG Energy
NRG
$23.8B
| $35M | 0.15% |
216,402
-103,843
| -32% | -$16.2M |
|
114
Aflac
AFL
$58.2B
| $35M | 0.15% |
313,701
+55,762
| +22% | +$5.86M |
|
115
Bio-Rad Laboratories Class A
BIO
$10.2B
| $34.9M | 0.15% |
124,626
+36,763
| +42% | +$10M |
|
116
Thermo Fisher Scientific
TMO
$233B
| $34.8M | 0.15% |
71,776
-7,986
| -10% | -$3.72M |
|
117
Gartner
IT
$12.4B
| $34.7M | 0.15% |
132,174
+75,314
| +132% | +$22M |
|
118
Old Republic International
ORI
$10B
| $34.7M | 0.15% |
817,747
+162,120
| +25% | +$6.25M |
|
119
C.H. Robinson
CHRW
$16.5B
| $34.5M | 0.15% |
260,665
+45,364
| +21% | +$5.32M |
|
120
Exelixis
EXEL
$13.4B
| $34.4M | 0.15% |
834,018
-12,096
| -1% | -$486K |
|
121
Avery Dennison
AVY
$13.9B
| $34.4M | 0.15% |
212,090
+81,098
| +62% | +$14M |
|
122
DTE Energy
DTE
$28.1B
| $34.2M | 0.15% |
241,964
+170,143
| +237% | +$23.3M |
|
123
Amer Sports
AS
$19B
| $34M | 0.15% |
977,309
+62,003
| +7% | +$2.34M |
|
124
United Therapeutics
UTHR
$22B
| $33.9M | 0.15% |
80,957
-8,446
| -9% | -$2.84M |
|
125
Clorox
CLX
$12.9B
| $33.8M | 0.15% |
274,454
+148,274
| +118% | +$18.4M |
|
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.