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 | |
|---|---|---|---|---|---|---|
201
AXIS Capital
AXS
$7.2B
| $26.9M | 0.12% |
280,672
+37,741
| +16% | +$3.65M |
|
202
Coca-Cola
KO
$392B
| $26.9M | 0.12% |
405,019
+267,814
| +195% | +$18.4M |
|
203
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
$46.8B
| $26.8M | 0.12% |
291,872
+121,022
| +71% | +$11.1M |
|
204
Vanguard Total Bond Market
BND
$161B
| $26.8M | 0.12% |
359,942
+5,733
| +2% | +$422K |
|
205
Universal Display
OLED
$3.95B
| $26.7M | 0.12% |
185,829
+87,049
| +88% | +$12.7M |
|
206
Hubbell
HUBB
$24.8B
| $26.5M | 0.12% |
61,493
+6,007
| +11% | +$2.59M |
|
207
ITT
ITT
$18.6B
| $26.3M | 0.11% |
147,349
+46,265
| +46% | +$7.76M |
|
208
Crown Holdings
CCK
$13B
| $26.3M | 0.11% |
272,437
+183,299
| +206% | +$18.4M |
|
209
Ciena
CIEN
$56B
| $26.1M | 0.11% |
179,127
+2,007
| +1% | +$204K |
|
210
Onto Innovation
ONTO
$17.9B
| $26M | 0.11% |
201,404
+155,051
| +335% | +$16.6M |
|
211
Cummins
CMI
$80.9B
| $26M | 0.11% |
61,473
+249
| +0.4% | +$95.5K |
|
212
Danaher
DHR
$154B
| $25.7M | 0.11% |
129,833
+58,729
| +83% | +$11.7M |
|
213
Vistra
VST
$45.7B
| $25.6M | 0.11% |
130,423
-17,108
| -12% | -$3.39M |
|
214
Advanced Drainage Systems
WMS
$10.8B
| $25.5M | 0.11% |
184,037
+40,124
| +28% | +$5.27M |
|
215
Rayonier
RYN
$6.31B
| $25.5M | 0.11% |
1,007,651
+716,886
| +247% | +$17.2M |
|
216
Walmart Inc
WMT
$825B
| $25.5M | 0.11% |
247,411
-42,600
| -15% | -$4.24M |
|
217
Welltower
WELL
$172B
| $25.4M | 0.11% |
142,387
+42,867
| +43% | +$7.05M |
|
218
Hasbro
HAS
$13.2B
| $25.2M | 0.11% |
332,805
+84,048
| +34% | +$6.52M |
|
219
TransDigm Group
TDG
$66.4B
| $25.2M | 0.11% |
19,131
-409
| -2% | -$585K |
|
220
iShares MSCI ACWI ETF
ACWI
$33.3B
| $25.2M | 0.11% |
182,147
+22,062
| +14% | +$2.93M |
|
221
Hartford Financial Services
HIG
$36.9B
| $25.2M | 0.11% |
188,737
+34,851
| +23% | +$4.47M |
|
222
Carnival Corporation Ltd
CCL
$35.2B
| $25M | 0.11% |
866,387
+145,954
| +20% | +$4.41M |
|
223
Stanley Black & Decker
SWK
$15.1B
| $25M | 0.11% |
335,873
+185,840
| +124% | +$13.6M |
|
224
Chevron
CVX
$403B
| $24.9M | 0.11% |
160,324
+25,522
| +19% | +$3.95M |
|
225
Nexstar Media Group
NXST
$5.73B
| $24.8M | 0.11% |
125,499
+17,104
| +16% | +$3.35M |
|
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.