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 | |
|---|---|---|---|---|---|---|
1401
American Healthcare REIT
AHR
$12.2B
| $565K | ﹤0.01% |
12,012
-652
| -5% | -$30.2K |
|
1402
Petrobras Class A
PBR.A
$111B
| $565K | ﹤0.01% |
50,150
-150
| -0.3% | -$1.73K |
|
1403
Protolabs
PRLB
$1.9B
| $565K | ﹤0.01% |
11,170
-2,169
| -16% | -$111K |
|
1404
Vanguard Morningstar Mega Cap Growth ETF
MGK
$33.2B
| $565K | ﹤0.01% |
6,845
+2,165
| +46% | +$178K |
|
1405
Patterson-UTI
PTEN
$4.71B
| $564K | ﹤0.01% |
92,380
-41,147
| -31% | -$246K |
|
1406
Shell
SHEL
$257B
| $564K | ﹤0.01% |
7,678
+835
| +12% | +$61.5K |
|
1407
iShares Morningstar Value ETF
ILCV
$1.35B
| $562K | ﹤0.01% |
5,958
| – | – |
|
|
SLNO
1408
DELISTED
Soleno Therapeutics
SLNO
| $562K | ﹤0.01% |
+12,130
| New | +$665K |
|
1409
State Street Energy Select Sector SPDR ETF
XLE
$41.8B
| $561K | ﹤0.01% |
12,541
+3,985
| +47% | +$177K |
|
1410
Global X MLP ETF
MLPA
$2.34B
| $556K | ﹤0.01% |
11,490
+6,875
| +149% | +$331K |
|
1411
Regions Financial
RF
$25.9B
| $556K | ﹤0.01% |
20,505
+5,626
| +38% | +$144K |
|
1412
Principal Exchange-Traded Funds Principal US Mega-Cap ETF
USMC
$4.37B
| $554K | ﹤0.01% |
8,093
-10,612
| -57% | -$726K |
|
|
BRSL
1413
Brightstar Lottery PLC
BRSL
$2.21B
| $554K | ﹤0.01% |
+35,772
| New | +$583K |
|
1414
Entegris
ENTG
$22B
| $551K | ﹤0.01% |
6,541
+3,713
| +131% | +$323K |
|
1415
Academy Sports + Outdoors
ASO
$2.84B
| $548K | ﹤0.01% |
10,972
-2,000
| -15% | -$99.2K |
|
1416
Badger Meter
BMI
$3.82B
| $543K | ﹤0.01% |
3,112
-4,385
| -58% | -$789K |
|
1417
Patrick Industries
PATK
$2.68B
| $542K | ﹤0.01% |
4,995
-1,209
| -19% | -$127K |
|
1418
Otter Tail
OTTR
$3.81B
| $541K | ﹤0.01% |
+6,689
| New | +$542K |
|
1419
MGIC Investment
MTG
$6.34B
| $539K | ﹤0.01% |
18,457
-41
| -0.2% | -$1.15K |
|
1420
iShares Bitcoin Trust
IBIT
$58.3B
| $539K | ﹤0.01% |
+10,849
| New | +$616K |
|
1421
Trade Desk
TTD
$6.19B
| $534K | ﹤0.01% |
14,060
-7,472
| -35% | -$331K |
|
1422
Monarch Casino & Resort
MCRI
$2.26B
| $532K | ﹤0.01% |
5,556
+1,824
| +49% | +$175K |
|
1423
Lifestance Health
LFST
$4.76B
| $527K | ﹤0.01% |
74,840
+724
| +1% | +$4.37K |
|
1424
Schwab US Large-Cap Growth ETF
SCHG
$62B
| $522K | ﹤0.01% |
16,000
| – | – |
|
|
MCW
1425
DELISTED
Mister Car Wash
MCW
| $520K | ﹤0.01% |
93,527
-146,429
| -61% | -$771K |
|
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.