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 | |
|---|---|---|---|---|---|---|
1576
SAP
SAP
$252B
| $234K | ﹤0.01% |
874
+17
| +2% | +$4.78K |
|
1577
TotalEnergies
TTE
$199B
| $233K | ﹤0.01% |
3,908
+77
| +2% | +$4.75K |
|
|
FBRT
1578
Franklin BSP Realty Trust
FBRT
$697M
| $232K | ﹤0.01% |
21,400
| – | – |
|
1579
Rivian
RIVN
$24.6B
| $232K | ﹤0.01% |
15,774
+2,687
| +21% | +$36K |
|
1580
Krystal Biotech
KRYS
$10.3B
| $231K | ﹤0.01% |
+1,307
| New | +$196K |
|
1581
Xometry
XMTR
$4.79B
| $231K | ﹤0.01% |
+4,235
| New | +$184K |
|
1582
Zeta Global
ZETA
$7.3B
| $231K | ﹤0.01% |
+11,606
| New | +$208K |
|
1583
Avantis US Small Cap Value ETF
AVUV
$31.3B
| $230K | ﹤0.01% |
+2,309
| New | +$223K |
|
1584
Brady Corp
BRC
$4.3B
| $228K | ﹤0.01% |
2,918
-214
| -7% | -$15.8K |
|
1585
Fluor
FLR
$7.01B
| $227K | ﹤0.01% |
5,406
-6,020
| -53% | -$277K |
|
1586
iShares Broad USD Investment Grade Corporate Bond ETF
USIG
$17.4B
| $226K | ﹤0.01% |
+4,325
| New | +$223K |
|
1587
Shoals Technologies Group
SHLS
$1.19B
| $225K | ﹤0.01% |
30,342
-60,684
| -67% | -$373K |
|
1588
iShares MSCI Hong Kong ETF
EWH
$1.28B
| $225K | ﹤0.01% |
10,426
| – | – |
|
1589
Plug Power
PLUG
$3.17B
| $224K | ﹤0.01% |
96,151
-171,356
| -64% | -$290K |
|
1590
Global X MLP ETF
MLPA
$2.34B
| $223K | ﹤0.01% |
4,615
| – | – |
|
1591
iShares Global Energy ETF
IXC
$2.86B
| $223K | ﹤0.01% |
5,351
| – | – |
|
1592
Horace Mann Educators
HMN
$2.05B
| $222K | ﹤0.01% |
4,917
+132
| +3% | +$5.8K |
|
1593
10x Genomics
TXG
$8.48B
| $221K | ﹤0.01% |
18,932
-57,606
| -75% | -$751K |
|
1594
St. Joe Company
JOE
$3.92B
| $221K | ﹤0.01% |
+4,470
| New | +$225K |
|
1595
Sabre
SABR
$848M
| $221K | ﹤0.01% |
120,765
+35,626
| +42% | +$84K |
|
1596
Ambarella
AMBA
$3.23B
| $220K | ﹤0.01% |
+2,672
| New | +$194K |
|
|
VPU
1597
Vanguard Utilities ETF
VPU
$8.27B
| $220K | ﹤0.01% |
1,159
| – | – |
|
1598
Barings BDC
BBDC
$978M
| $219K | ﹤0.01% |
25,000
| – | – |
|
1599
Vanguard Industrials ETF
VIS
$8.22B
| $219K | ﹤0.01% |
739
| – | – |
|
1600
iShares US Infrastructure ETF
IFRA
$4.5B
| $217K | ﹤0.01% |
4,105
| – | – |
|
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.