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 | |
|---|---|---|---|---|---|---|
151
Bristol-Myers Squibb
BMY
$137B
| $31.5M | 0.14% |
698,224
+90,238
| +15% | +$4.21M |
|
152
Comfort Systems
FIX
$58.3B
| $31.4M | 0.14% |
38,094
+7,895
| +26% | +$5.35M |
|
153
Idexx Laboratories
IDXX
$43.9B
| $31.1M | 0.14% |
48,643
+13,986
| +40% | +$8.49M |
|
154
PTC
PTC
$16.8B
| $31M | 0.14% |
152,712
+75,492
| +98% | +$15.4M |
|
155
Digital Realty Trust
DLR
$70.5B
| $30.5M | 0.13% |
176,260
+67,967
| +63% | +$11.6M |
|
156
JPMorgan Chase
JPM
$935B
| $30.4M | 0.13% |
96,489
+10,328
| +12% | +$3.07M |
|
157
Littelfuse
LFUS
$10.5B
| $30.3M | 0.13% |
117,055
+16,388
| +16% | +$4.1M |
|
158
Altria Group
MO
$110B
| $30.1M | 0.13% |
455,332
+162,181
| +55% | +$10.3M |
|
159
James Hardie Industries
JHX
$17.7B
| $30.1M | 0.13% |
+1,564,473
| New | +$37.5M |
|
160
Applied Materials
AMAT
$391B
| $30M | 0.13% |
146,747
-18,591
| -11% | -$3.37M |
|
161
BWX Technologies
BWXT
$14.4B
| $30M | 0.13% |
162,887
+36,871
| +29% | +$5.93M |
|
162
DT Midstream
DTM
$12.9B
| $30M | 0.13% |
265,180
+55,897
| +27% | +$5.84M |
|
163
Rockwell Automation
ROK
$48.5B
| $29.9M | 0.13% |
85,579
+49,566
| +138% | +$17.1M |
|
164
RB Global
RBA
$16.1B
| $29.8M | 0.13% |
274,963
+57,952
| +27% | +$6.5M |
|
165
McKesson
MCK
$100B
| $29.7M | 0.13% |
38,428
+1,917
| +5% | +$1.35M |
|
166
Emerson Electric
EMR
$87.7B
| $29.7M | 0.13% |
226,226
+74,864
| +49% | +$10.2M |
|
167
PayPal
PYPL
$52.7B
| $29.6M | 0.13% |
442,008
+85,580
| +24% | +$6.03M |
|
168
Ingersoll Rand
IR
$31.2B
| $29.5M | 0.13% |
357,635
+12,055
| +3% | +$988K |
|
169
RLI Corp
RLI
$6B
| $29.5M | 0.13% |
452,522
+128,883
| +40% | +$8.72M |
|
170
Aon
AON
$75.3B
| $29.5M | 0.13% |
82,600
+47,900
| +138% | +$17.3M |
|
171
Hayward Holdings
HAYW
$3.09B
| $29.4M | 0.13% |
1,947,137
+1,622,458
| +500% | +$24.9M |
|
172
VeriSign
VRSN
$25.5B
| $29.3M | 0.13% |
104,712
+28,823
| +38% | +$8.05M |
|
173
BorgWarner
BWA
$13.8B
| $29.1M | 0.13% |
662,243
-1,556
| -0.2% | -$62.2K |
|
174
Roblox
RBLX
$27.4B
| $29.1M | 0.13% |
210,033
-10,583
| -5% | -$1.32M |
|
175
Xylem
XYL
$26.5B
| $29M | 0.13% |
196,560
+54,442
| +38% | +$7.55M |
|
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.