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 | |
|---|---|---|---|---|---|---|
1651
Axogen
AXGN
$2.71B
| $203K | ﹤0.01% |
+6,217
| New | +$153K |
|
|
NVO
1652
Novo Nordisk
NVO
$207B
| $203K | ﹤0.01% |
+3,987
| New | +$204K |
|
1653
SM Energy
SM
$8.85B
| $203K | ﹤0.01% |
10,840
+559
| +5% | +$11.3K |
|
1654
Zeta Global
ZETA
$7.3B
| $203K | ﹤0.01% |
9,958
-1,648
| -14% | -$30.8K |
|
1655
Vermilion Energy
VET
$1.95B
| $201K | ﹤0.01% |
+24,075
| New | +$199K |
|
1656
Belden
BDC
$4.79B
| $200K | ﹤0.01% |
1,719
+13
| +0.8% | +$1.52K |
|
1657
Shoals Technologies Group
SHLS
$1.19B
| $200K | ﹤0.01% |
23,547
-6,795
| -22% | -$61K |
|
1658
Banco Santander
SAN
$212B
| $194K | ﹤0.01% |
+16,539
| New | +$176K |
|
1659
SFL Corp
SFL
$1.65B
| $191K | ﹤0.01% |
+24,439
| New | +$188K |
|
1660
Sabre
SABR
$848M
| $189K | ﹤0.01% |
139,167
+18,402
| +15% | +$31.7K |
|
1661
Under Armour Class C
UA
$2.25B
| $184K | ﹤0.01% |
+38,335
| New | +$171K |
|
1662
Angi Inc
ANGI
$200M
| $183K | ﹤0.01% |
14,166
-198,071
| -93% | -$2.55M |
|
1663
Harmonic Inc
HLIT
$1.36B
| $181K | ﹤0.01% |
18,321
-20,951
| -53% | -$211K |
|
1664
Pebblebrook Hotel Trust
PEB
$2.09B
| $181K | ﹤0.01% |
15,988
+1
| +0% | +$11 |
|
|
XHR
1665
Xenia Hotels & Resorts
XHR
$1.79B
| $178K | ﹤0.01% |
12,590
-130
| -1% | -$1.77K |
|
1666
Lucid Motors
LCID
$2.17B
| $173K | ﹤0.01% |
+16,384
| New | +$262K |
|
1667
Aegon
AEG
$13.3B
| $168K | ﹤0.01% |
21,727
| – | – |
|
1668
Grocery Outlet
GO
$1.15B
| $166K | ﹤0.01% |
16,459
-2,650
| -14% | -$33.3K |
|
1669
GoodRx Holdings
GDRX
$1.18B
| $162K | ﹤0.01% |
+59,702
| New | +$196K |
|
1670
Cedar Fair
FUN
$1.71B
| $155K | ﹤0.01% |
+10,097
| New | +$183K |
|
1671
AdaptHealth
AHCO
$751M
| $148K | ﹤0.01% |
14,894
-23,845
| -62% | -$228K |
|
1672
Clear Channel Outdoor Holdings
CCO
$1.21B
| $148K | ﹤0.01% |
66,835
+45,783
| +217% | +$84.9K |
|
1673
BGC Group
BGC
$5.63B
| $147K | ﹤0.01% |
16,445
| – | – |
|
1674
Mativ Holdings
MATV
$688M
| $142K | ﹤0.01% |
+11,715
| New | +$138K |
|
1675
Latham Group
SWIM
$827M
| $133K | ﹤0.01% |
+20,925
| New | +$146K |
|
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.