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 | |
|---|---|---|---|---|---|---|
1501
Appian
APPN
$2.74B
| $263K | ﹤0.01% |
+8,818
| New | +$265K |
|
1502
Apogee Enterprises
APOG
$868M
| $263K | ﹤0.01% |
+6,482
| New | +$268K |
|
1503
State Street Materials Select Sector SPDR ETF
XLB
$8.87B
| $262K | ﹤0.01% |
5,974
| – | – |
|
1504
National Beverage
FIZZ
$3.03B
| $262K | ﹤0.01% |
+6,052
| New | +$266K |
|
1505
Resideo Technologies
REZI
$3.08B
| $262K | ﹤0.01% |
+11,855
| New | +$226K |
|
1506
LivaNova
LIVN
$4.34B
| $261K | ﹤0.01% |
5,793
-22,030
| -79% | -$909K |
|
1507
SAP
SAP
$252B
| $261K | ﹤0.01% |
+857
| New | +$246K |
|
|
GDEN
1508
DELISTED
Golden Entertainment
GDEN
| $260K | ﹤0.01% |
8,843
+407
| +5% | +$11.1K |
|
1509
Hecla Mining
HL
$13.9B
| $259K | ﹤0.01% |
43,253
| – | – |
|
1510
Macerich
MAC
$6.91B
| $258K | ﹤0.01% |
15,974
+4,142
| +35% | +$63.9K |
|
1511
Integer Holdings
ITGR
$4.26B
| $257K | ﹤0.01% |
2,090
-338
| -14% | -$40.4K |
|
1512
Interface
TILE
$2.25B
| $254K | ﹤0.01% |
12,123
-17,128
| -59% | -$339K |
|
1513
Helios Technologies
HLIO
$2.51B
| $252K | ﹤0.01% |
7,553
-27
| -0.4% | -$814 |
|
1514
iShares Short Maturity Bond ETF
NEAR
$4.89B
| $250K | ﹤0.01% |
4,889
+868
| +22% | +$44.1K |
|
1515
Phreesia
PHR
$749M
| $249K | ﹤0.01% |
8,761
-6,541
| -43% | -$166K |
|
1516
CRISPR Therapeutics
CRSP
$5.75B
| $248K | ﹤0.01% |
+5,101
| New | +$197K |
|
1517
SM Energy
SM
$8.85B
| $248K | ﹤0.01% |
10,023
-3,675
| -27% | -$89K |
|
1518
Lifestance Health
LFST
$4.76B
| $246K | ﹤0.01% |
47,529
+15,601
| +49% | +$93.5K |
|
1519
Pebblebrook Hotel Trust
PEB
$2.09B
| $245K | ﹤0.01% |
+24,555
| New | +$228K |
|
|
PCH
1520
DELISTED
PotlatchDeltic
PCH
| $243K | ﹤0.01% |
+6,335
| New | +$249K |
|
1521
Perimeter Solutions
PRM
$5.15B
| $241K | ﹤0.01% |
17,315
-2,494
| -13% | -$28.8K |
|
1522
Hawkins
HWKN
$2.48B
| $241K | ﹤0.01% |
+1,693
| New | +$213K |
|
1523
iShares US Energy ETF
IYE
$1.87B
| $240K | ﹤0.01% |
5,308
| – | – |
|
1524
iShares US Utilities ETF
IDU
$1.32B
| $239K | ﹤0.01% |
2,287
| – | – |
|
1525
Regions Financial
RF
$25.9B
| $235K | ﹤0.01% |
+10,009
| New | +$212K |
|
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.