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 | |
|---|---|---|---|---|---|---|
|
DFTX
1626
Definium Therapeutics
DFTX
$6.03B
| $239K | ﹤0.01% |
17,825
+823
| +5% | +$10.2K |
|
1627
Green Plains
GPRE
$1.14B
| $239K | ﹤0.01% |
24,343
-2,959
| -11% | -$29.8K |
|
1628
Hycroft Mining Holding Corp
HYMC
$2.52B
| $237K | ﹤0.01% |
+9,969
| New | +$110K |
|
1629
WD-40
WDFC
$2.91B
| $237K | ﹤0.01% |
1,203
-23
| -2% | -$4.53K |
|
1630
Plexus
PLXS
$6.4B
| $235K | ﹤0.01% |
1,600
-627
| -28% | -$91.9K |
|
1631
Horace Mann Educators
HMN
$2.05B
| $233K | ﹤0.01% |
5,046
+129
| +3% | +$5.84K |
|
|
USAS
1632
Americas Gold and Silver
USAS
$1.82B
| $233K | ﹤0.01% |
+45,509
| New | +$205K |
|
1633
Barings BDC
BBDC
$978M
| $230K | ﹤0.01% |
25,000
| – | – |
|
1634
Penumbra
PEN
$12.8B
| $229K | ﹤0.01% |
738
-14,378
| -95% | -$3.97M |
|
1635
argenx
ARGX
$65B
| $229K | ﹤0.01% |
+272
| New | +$233K |
|
1636
Central Garden & Pet Co Class A
CENTA
$2.41B
| $228K | ﹤0.01% |
7,819
-3,633
| -32% | -$105K |
|
1637
Stride
LRN
$3.51B
| $225K | ﹤0.01% |
3,470
-18,849
| -84% | -$1.71M |
|
1638
iShares Global Energy ETF
IXC
$2.86B
| $224K | ﹤0.01% |
5,351
| – | – |
|
1639
Upstart Holdings
UPST
$2.95B
| $223K | ﹤0.01% |
5,104
+283
| +6% | +$13K |
|
1640
iShares MSCI Hong Kong ETF
EWH
$1.28B
| $219K | ﹤0.01% |
10,324
-102
| -1% | -$2.22K |
|
1641
First Trust Cloud Computing ETF
SKYY
$3.29B
| $218K | ﹤0.01% |
1,679
+152
| +10% | +$20.3K |
|
1642
Immunome
IMNM
$3.24B
| $217K | ﹤0.01% |
10,100
-100
| -1% | -$1.75K |
|
1643
Columbia Research Enhanced Core ETF
RECS
$6.04B
| $216K | ﹤0.01% |
+5,283
| New | +$215K |
|
1644
MasterBrand
MBC
$1.85B
| $213K | ﹤0.01% |
19,300
-3,033
| -14% | -$35.5K |
|
1645
Addus HomeCare
ADUS
$2.26B
| $207K | ﹤0.01% |
+1,929
| New | +$222K |
|
|
QMMM
1646
DELISTED
QMMM Holdings
QMMM
| $206K | ﹤0.01% |
1,729
| – | – |
|
1647
Rigel Pharmaceuticals
RIGL
$857M
| $206K | ﹤0.01% |
+4,805
| New | +$181K |
|
|
PENG
1648
Penguin Solutions Inc
PENG
$2.7B
| $205K | ﹤0.01% |
10,497
-72,698
| -87% | -$1.56M |
|
1649
Turning Point Brands
TPB
$1.67B
| $205K | ﹤0.01% |
+1,891
| New | +$185K |
|
1650
Avantis Emerging Markets Equity ETF
AVEM
$27.5B
| $204K | ﹤0.01% |
+2,654
| New | +$203K |
|
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.