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 | |
|---|---|---|---|---|---|---|
126
Adobe
ADBE
$109B
| $33.7M | 0.15% |
95,627
+22,769
| +31% | +$8.17M |
|
127
Centene
CNC
$32.1B
| $33.6M | 0.15% |
941,206
+641,737
| +214% | +$19.4M |
|
128
Lowe's Companies
LOW
$121B
| $33.5M | 0.15% |
133,440
+66,042
| +98% | +$16.2M |
|
129
Oracle
ORCL
$422B
| $33.4M | 0.15% |
118,648
+38,841
| +49% | +$9.89M |
|
130
Viatris
VTRS
$18.7B
| $33.2M | 0.14% |
3,350,712
+641,103
| +24% | +$6.24M |
|
131
TJX Companies
TJX
$155B
| $33.1M | 0.14% |
228,991
+33,531
| +17% | +$4.45M |
|
132
Pinnacle West Capital
PNW
$11.8B
| $33M | 0.14% |
367,950
+100,120
| +37% | +$9.01M |
|
133
Willis Towers Watson
WTW
$31.8B
| $32.9M | 0.14% |
95,232
+20,976
| +28% | +$6.79M |
|
134
Dropbox
DBX
$7.5B
| $32.7M | 0.14% |
1,082,916
+422,934
| +64% | +$12.1M |
|
135
KBR
KBR
$4.86B
| $32.6M | 0.14% |
690,319
+270,476
| +64% | +$13.1M |
|
136
Invesco S&P 500 Equal Weight ETF
RSP
$99.5B
| $32.6M | 0.14% |
171,764
+19,558
| +13% | +$3.64M |
|
137
Ryder
R
$9.58B
| $32.4M | 0.14% |
171,852
+47,608
| +38% | +$8.59M |
|
138
Comcast
CMCSA
$95.3B
| $32.4M | 0.14% |
1,029,826
+239,656
| +30% | +$8.03M |
|
139
Ecolab
ECL
$78.9B
| $32.4M | 0.14% |
118,136
+23,235
| +24% | +$6.31M |
|
140
Lincoln Electric
LECO
$15.4B
| $32.3M | 0.14% |
137,128
+1,682
| +1% | +$394K |
|
141
Expedia Group
EXPE
$38.6B
| $32.3M | 0.14% |
150,890
-9,763
| -6% | -$1.96M |
|
142
Mastercard
MA
$509B
| $32.2M | 0.14% |
56,553
+11,148
| +25% | +$6.4M |
|
143
AT&T
T
$173B
| $32M | 0.14% |
1,133,923
-4,370
| -0.4% | -$124K |
|
|
SNDK
144
Sandisk
SNDK
$234B
| $32M | 0.14% |
+285,049
| New | +$16.6M |
|
145
TechnipFMC
FTI
$30.4B
| $31.9M | 0.14% |
809,000
+178,322
| +28% | +$6.53M |
|
146
Landstar System
LSTR
$6.33B
| $31.9M | 0.14% |
260,252
+102,524
| +65% | +$13.6M |
|
147
Lam Research
LRCX
$393B
| $31.8M | 0.14% |
237,177
+169,647
| +251% | +$18M |
|
148
Pegasystems
PEGA
$5.52B
| $31.7M | 0.14% |
551,535
-112,214
| -17% | -$6.18M |
|
149
Royal Caribbean
RCL
$78.1B
| $31.7M | 0.14% |
97,965
+41,672
| +74% | +$13.9M |
|
150
Qualcomm
QCOM
$169B
| $31.6M | 0.14% |
189,910
-46,658
| -20% | -$7.4M |
|
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.