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
|
+$750M |
| 2 |
Vanguard Morningstar Value ETF
VTV
|
+$107M |
| 3 |
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
|
+$102M |
| 4 |
Airbnb
ABNB
|
+$96.7M |
| 5 |
Flowers Foods
FLO
|
+$41.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
HOLX
Hologic
HOLX
|
+$43.2M |
| 2 |
Packaging Corp of America
PKG
|
+$31.2M |
| 3 |
Carpenter Technology
CRS
|
+$22.7M |
| 4 |
K
Kellanova
K
|
+$22.5M |
| 5 |
James Hardie Industries
JHX
|
+$21.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 17.25% |
| 2 | Industrials | 12.14% |
| 3 | Consumer Discretionary | 10.27% |
| 4 | Healthcare | 7.47% |
| 5 | Financials | 5.43% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Thermo Fisher Scientific
TMO
$233B
| $42.2M | 0.15% |
72,758
+982
| +1% | +$555K |
|
102
Xylem
XYL
$26.5B
| $42.1M | 0.15% |
308,843
+112,283
| +57% | +$16.1M |
|
103
Emcor
EME
$34.3B
| $42M | 0.15% |
68,605
+7,802
| +13% | +$5.05M |
|
104
Ventas
VTR
$47.7B
| $41.7M | 0.15% |
539,154
+224,935
| +72% | +$17M |
|
105
SS&C Technologies
SSNC
$19.5B
| $41.4M | 0.15% |
474,016
+36,179
| +8% | +$3.08M |
|
106
Vanguard Morningstar Total Stock Market ETF
VTI
$685B
| $41.4M | 0.15% |
123,463
+3,505
| +3% | +$1.17M |
|
107
Illumina
ILMN
$33.1B
| $41.3M | 0.15% |
315,008
+22,320
| +8% | +$2.62M |
|
108
ON Semiconductor
ON
$28.9B
| $41.3M | 0.15% |
762,360
+267,130
| +54% | +$13.7M |
|
109
Steris
STE
$23.2B
| $41.2M | 0.15% |
162,516
-1,341
| -0.8% | -$337K |
|
110
Ralph Lauren
RL
$22.2B
| $41M | 0.15% |
115,913
-603
| -0.5% | -$206K |
|
111
NewMarket
NEU
$8.62B
| $41M | 0.15% |
59,599
+14,989
| +34% | +$11.4M |
|
112
CrowdStrike
CRWD
$195B
| $40.7M | 0.15% |
346,888
+5,692
| +2% | +$725K |
|
113
Labcorp
LH
$27.3B
| $40.6M | 0.15% |
161,681
+66,652
| +70% | +$17.7M |
|
114
Idexx Laboratories
IDXX
$43.9B
| $40.4M | 0.15% |
59,738
+11,095
| +23% | +$7.56M |
|
115
Republic Services
RSG
$67.6B
| $40.2M | 0.15% |
189,508
+30,175
| +19% | +$6.49M |
|
116
Iridium Communications
IRDM
$5.19B
| $40.1M | 0.15% |
2,309,750
+2,002,232
| +651% | +$35.4M |
|
117
Hayward Holdings
HAYW
$3.09B
| $40.1M | 0.15% |
2,594,594
+647,457
| +33% | +$10.2M |
|
118
Paychex
PAYX
$44.3B
| $40.1M | 0.15% |
357,110
+198,499
| +125% | +$23.2M |
|
119
RLI Corp
RLI
$6B
| $39.9M | 0.15% |
623,287
+170,765
| +38% | +$10.7M |
|
120
WEX
WEX
$6.81B
| $39.8M | 0.15% |
267,438
-3,526
| -1% | -$531K |
|
121
Gartner
IT
$12.4B
| $39.8M | 0.15% |
157,854
+25,680
| +19% | +$6.18M |
|
122
National Fuel Gas
NFG
$7.84B
| $39.8M | 0.15% |
496,762
-25,166
| -5% | -$2.07M |
|
123
TJX Companies
TJX
$155B
| $39.7M | 0.15% |
258,749
+29,758
| +13% | +$4.4M |
|
124
Apollo Global Management
APO
$78.4B
| $39.7M | 0.15% |
274,338
+35
| +0% | +$4.65K |
|
125
BorgWarner
BWA
$13.8B
| $39.6M | 0.14% |
877,736
+215,493
| +33% | +$9.44M |
|
Similar funds
Joel Greenblatt's Q4 2025 Portfolio in Review
As of Q4 2025, Joel Greenblatt held 1,837 positions worth $27.4B, up 19% from $23B the previous quarter. Its ten largest holdings account for 27% of the portfolio.
Joel Greenblatt deployed $3.96B of net new capital in Q4 2025, opening 161 new positions and adding to 940 existing holdings. Its largest new stake was CoreWeave: 275,001 shares worth $19.7M.
By sector, the portfolio is most concentrated in Technology at 17% of assets, down from 19% a quarter earlier, followed by Industrials and Consumer Discretionary.
On the sell side, the largest reduction was Packaging Corp of America, an estimated $31.2M trimmed.
- Joel Greenblatt's largest Q4 2025 buy was CoreWeave: 275,001 shares worth $19.7M.
- Joel Greenblatt added most to State Street SPDR S&P 500 ETF Trust in Q4 2025, an estimated $750M increase.
- Joel Greenblatt's biggest Q4 2025 reduction was Packaging Corp of America, cutting an estimated $31.2M.
- Joel Greenblatt fully exited Hologic in Q4 2025, selling an estimated $43.2M.
- Joel Greenblatt's ten largest holdings make up 27% of its $27.4B portfolio in Q4 2025.
- Joel Greenblatt opened 161 new positions and closed 118 in Q4 2025.
- Joel Greenblatt's portfolio value rose 19% quarter-over-quarter to $27.4B.
Based on Gotham Asset Management's 13F filing for Q4 2025, filed 17 Feb 2026.