Great investors · Joel Greenblatt · Q2 2025
What Joel Greenblatt bought and sold in Q2 2025
Gotham Asset Management 13F portfolio as of Jun 30, 2025: 1,655 positions worth $16.7 bn. Largest: SPY, GSPY, NVDA, AAPL. Filed with the SEC on Aug 14, 2025.
The 13F is filed by Gotham Asset Management, not by Joel Greenblatt personally: these are the whole firm's positions. A “position” is a distinct security in the filing (by CUSIP); share classes of the same company are shown added together.
Buys in Q2 2025
- IncreasedState Str Spdr S&P 500 ETF TSPY+3.9 pp
Sells in Q2 2025
No sale of 0.5 points of the portfolio or more this quarter.
1 company with a material move, out of 1 position with a change. Only moves of 0.5 points of the portfolio or more are listed, measured as “traded weight” (what was bought or sold, excluding price effects). Smaller changes exist and are not listed: a position may have gone up or down without appearing above.
The full 13F, line by line
Gotham Asset Management's Q2 2025 13F lists 1,655 lines of US-listed securities worth $16.7 bn; the largest is SPY at 16.1% of the portfolio. It was accepted by the SEC on Aug 14, 2025 at 4:05 PM ET.
Against the previous quarter, it opened 225 positions, closed 102 (AVLV, VRME, DFUS and JBTM and 98 more), added to 321 (AZTA, EQT, HI and SPY and 317 more) and trimmed 63 (VTI, CEG, JCI and EMR and 59 more). 16 lines show the same number of shares.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | State Str Spdr S&P 500 ETF T SPY | 4.4 M | $2.7 bn | 16.1% | +32% |
| 2 | Tidal Trust I GSPY | 15.9 M | $538M | 3.22% | no change |
| 3 | NVIDIA NVDA | 2.3 M | $359M | 2.15% | +6.6% |
| 4 | Apple AAPL | 890,230 | $183M | 1.09% | +12% |
| 5 | iShares Core S&P 500 ETF IVV | 272,313 | $169M | 1.01% | no change |
| 6 | Amazon.com AMZN | 718,439 | $158M | 0.94% | no change |
| 7 | Snowflake SNOW | 567,931 | $127M | 0.76% | no change |
| 8 | Microsoft MSFT | 251,165 | $125M | 0.75% | +5.1% |
| 9 | Tidal Trust I GVLU | 3.5 M | $83.8M | 0.50% | no change |
| 10 | Alphabet GOOGL | 460,354 | $81.1M | 0.49% | +8.3% |
| 11 | iShares 0-3 Month Treasury B ETF SGOV | 748,815 | $75.4M | 0.45% | +558% |
| 12 | Broadcom AVGO | 273,016 | $75.3M | 0.45% | +1.1% |
| 13 | Vanguard S&P 500 ETF VOO | 128,540 | $73.0M | 0.44% | +89% |
| 14 | Meta Platforms META | 98,302 | $72.6M | 0.43% | −1.3% |
| 15 | iShares Core Msci Eafe ETF IEFA | 861,150 | $71.9M | 0.43% | +3.1% |
| 16 | Ishares IEMG | 867,030 | $52.0M | 0.31% | +7% |
| 17 | NRG Energy NRG | 320,245 | $51.4M | 0.31% | +6.6% |
| 18 | Berkshire Hathaway BRK/B | 97,984 | $47.6M | 0.28% | +1.2% |
| 19 | Tapestry TPR | 535,889 | $47.1M | 0.28% | +21% |
| 20 | Palantir Technologies PLTR | 320,359 | $43.7M | 0.26% | +3.6% |
| 21 | Walt Disney DIS | 347,184 | $43.1M | 0.26% | +31% |
| 22 | Booking Holdings BKNG | 7,259 | $42.0M | 0.25% | +36% |
| 23 | Charles River Laboratories International CRL | 269,161 | $40.8M | 0.24% | +74% |
| 24 | CrowdStrike Holdings CRWD | 78,809 | $40.1M | 0.24% | +15% |
| 25 | MasTec MTZ | 234,905 | $40.0M | 0.24% | +29% |
| 26 | Howmet Aerospace HWM | 205,656 | $38.3M | 0.23% | +3.4% |
| 27 | Caterpillar CAT | 97,913 | $38.0M | 0.23% | +41% |
| 28 | Merck MRK | 479,081 | $37.9M | 0.23% | +21% |
| 29 | Cadence Design Systems CDNS | 122,734 | $37.8M | 0.23% | −4.1% |
| 30 | Qualcomm QCOM | 236,568 | $37.7M | 0.23% | +10% |
| 31 | Exelixis EXEL | 846,114 | $37.3M | 0.22% | +51% |
| 32 | Tesla TSLA | 117,350 | $37.3M | 0.22% | +20% |
| 33 | Newmont NEM | 639,180 | $37.2M | 0.22% | −1.6% |
| 34 | Gen Digital GEN | 1.3 M | $36.8M | 0.22% | +14% |
| 35 | Jabil JBL | 166,782 | $36.4M | 0.22% | +15% |
| 36 | FOX FOXA | 643,797 | $36.1M | 0.22% | +36% |
| 37 | nVent Electric NVT | 490,813 | $36.0M | 0.22% | +198% |
| 38 | Pegasystems PEGA | 663,749 | $35.9M | 0.22% | +37% |
| 39 | Zebra Technologies ZBRA | 115,741 | $35.7M | 0.21% | +157% |
| 40 | CF Industries Holdings CF | 387,347 | $35.6M | 0.21% | +45% |
| 41 | Skyworks Solutions SWKS | 477,385 | $35.6M | 0.21% | +4.3% |
| 42 | Amer Sports AS | 915,306 | $35.5M | 0.21% | +24% |
| 43 | iShares Core U.s. Aggregate ETF AGG | 354,774 | $35.2M | 0.21% | +53% |
| 44 | NetApp NTAP | 325,739 | $34.7M | 0.21% | +183% |
| 45 | Ralph Lauren RL | 124,771 | $34.2M | 0.20% | +14% |
| 46 | Netflix NFLX | 25,316 | $33.9M | 0.20% | +36% |
| 47 | CME Group CME | 122,834 | $33.9M | 0.20% | +36% |
| 48 | Generac Holdings GNRC | 235,820 | $33.8M | 0.20% | +33% |
| 49 | Amedisys AMED | 342,392 | $33.7M | 0.20% | +17% |
| 50 | Micron Technology MU | 270,705 | $33.4M | 0.20% | +103% |
| 51 | Automatic Data Processing ADP | 107,616 | $33.2M | 0.20% | +22% |
| 52 | At&t T | 1.1 M | $32.9M | 0.20% | +23% |
| 53 | Boyd Gaming BYD | 417,642 | $32.7M | 0.20% | +20% |
| 54 | Packaging Corp of America PKG | 171,723 | $32.4M | 0.19% | +117% |
| 55 | Thermo Fisher Scientific TMO | 79,762 | $32.3M | 0.19% | +108% |
| 56 | Western Digital WDC | 505,155 | $32.3M | 0.19% | +38% |
| 57 | ULTA Beauty ULTA | 67,631 | $31.6M | 0.19% | +11% |
| 58 | Cisco Systems CSCO | 454,255 | $31.5M | 0.19% | +45% |
| 59 | Polaris PII | 775,119 | $31.5M | 0.19% | +230% |
| 60 | EQT EQT | 538,312 | $31.4M | 0.19% | ×36 |
| 61 | Gilead Sciences GILD | 282,196 | $31.3M | 0.19% | +12% |
| 62 | Steris STE | 129,854 | $31.2M | 0.19% | +36% |
| 63 | Vanguard Mrngstar GR ETF-sui ETF VUG | 70,789 | $31.0M | 0.19% | +23% |
| 64 | Occidental Petroleum OXY | 729,086 | $30.6M | 0.18% | +308% |
| 65 | Applied Materials AMAT | 165,338 | $30.3M | 0.18% | +33% |
| 66 | Evergy EVRG | 433,658 | $29.9M | 0.18% | +6.4% |
| 67 | Southern Copper Corp/ SCCO | 295,002 | $29.8M | 0.18% | +38% |
| 68 | TransDigm Group TDG | 19,540 | $29.7M | 0.18% | +1.9% |
| 69 | Lyondellbasell Industries LYB | 507,697 | $29.4M | 0.18% | +26% |
| 70 | monday.com MNDY | 93,141 | $29.3M | 0.18% | no change |
| 71 | F5 FFIV | 99,381 | $29.2M | 0.18% | +9.9% |
| 72 | Regal Rexnord RRX | 201,520 | $29.2M | 0.17% | +192% |
| 73 | Ansys ANSS | 83,165 | $29.2M | 0.17% | +2.3% |
| 74 | Planet Fitness PLNT | 265,971 | $29.0M | 0.17% | +11% |
| 75 | Ingersoll Rand IR | 345,580 | $28.7M | 0.17% | +107% |
| 76 | Iridium Communications IRDM | 951,199 | $28.7M | 0.17% | +8.2% |
| 77 | AST Spacemobile ASTS | 612,189 | $28.6M | 0.17% | no change |
| 78 | Vistra Operations VST | 147,531 | $28.6M | 0.17% | +66% |
| 79 | AXON Enterprise AXON | 34,382 | $28.5M | 0.17% | +23% |
| 80 | WEX WEX | 193,788 | $28.5M | 0.17% | +158% |
| 81 | Walmart WMT | 290,011 | $28.4M | 0.17% | +50% |
| 82 | AppLovin APP | 80,670 | $28.2M | 0.17% | no change |
| 83 | Comcast CMCSA | 790,170 | $28.2M | 0.17% | +59% |
| 84 | Adobe ADBE | 72,858 | $28.2M | 0.17% | +190% |
| 85 | Johnson & Johnson JNJ | 184,346 | $28.2M | 0.17% | +87% |
| 86 | Bristol-myers Squibb BMY | 607,986 | $28.1M | 0.17% | +105% |
| 87 | Bath & Body Works BBWI | 938,670 | $28.1M | 0.17% | +38% |
| 88 | Lincoln Electric Holdings LECO | 135,446 | $28.1M | 0.17% | +19% |
| 89 | Williams-sonoma WSM | 171,724 | $28.1M | 0.17% | +10% |
| 90 | Kinder Morgan KMI | 950,370 | $27.9M | 0.17% | +35% |
| 91 | Republic Services RSG | 112,887 | $27.8M | 0.17% | +9% |
| 92 | Masimo MASI | 165,356 | $27.8M | 0.17% | +14% |
| 93 | Amkor Technology AMKR | 1.3 M | $27.8M | 0.17% | +854% |
| 94 | Invesco Exchange Traded Fund T RSP | 152,206 | $27.7M | 0.17% | +12% |
| 95 | Brown & Brown BRO | 248,076 | $27.5M | 0.16% | +15% |
| 96 | Omnicom Group OMC | 378,713 | $27.2M | 0.16% | +49% |
| 97 | Invesco QQQ Trust Series 1 ETF QQQ | 49,360 | $27.2M | 0.16% | +110% |
| 98 | Aflac AFL | 257,939 | $27.2M | 0.16% | +26% |
| 99 | Expedia Group EXPE | 160,653 | $27.1M | 0.16% | −12% |
| 100 | Gentex GNTX | 1.2 M | $26.9M | 0.16% | +673% |
The 100 largest lines are shown. The other 1,555 add up to 53.9% of the portfolio; full 13F of Gotham Asset Management →
Positions it closed (102)
- American Centy ETF Tr AVLVwas 0.08% · 139,098 shares
- Verifyme VRMEwas 0.05% · 984,496 shares
- Dimensional ETF Trust DFUSwas 0.04% · 73,635 shares
- JBT Marel JBTMwas 0.02% · 23,953 shares
- Graphic Packaging Holding GPKwas 0.02% · 111,529 shares
- AZEK AZEKwas 0.02% · 51,998 shares
- Alcon ALCwas 0.01% · 17,833 shares
- Franklin Electric FELEwas 0.01% · 16,526 shares
- Weyerhaeuser WYwas 0.01% · 45,205 shares
- Dorian LPG LPGwas 0.01% · 50,875 shares
- Blue Bird BLBDwas 0.01% · 32,450 shares
- Gitlab GTLBwas 0.01% · 20,661 shares
- TD Synnex SNXwas 0.01% · 8,591 shares
- Tennant TNCwas 0.01% · 11,066 shares
- Krystal Biotech KRYSwas 0.01% · 4,804 shares
- Enovis ENOVwas 0.01% · 22,548 shares
- SiteOne Landscape Supply SITEwas 0.01% · 6,429 shares
- Colliers International Group CIGIwas 0.01% · 6,341 shares
- Northern Oil and Gas NOGwas 0.01% · 24,996 shares
- Ligand Pharmaceuticals LGNDwas 0.01% · 6,912 shares
- Oceaneering International OIIwas 0.01% · 33,171 shares
- Dynavax Technologies DVAXwas 0.01% · 53,698 shares
- Belden BDCwas 0.01% · 6,792 shares
- Pembina Pipeline PBAwas 0.01% · 16,901 shares
- Spirit AeroSystems Holdings was 0.01% · 19,250 shares
- Avient AVNTwas 0.01% · 17,828 shares
- Alignment Healthcare ALHCwas 0.01% · 35,568 shares
- Gildan Activewear GILwas 0.01% · 14,816 shares
- CNO Financial Group CNOwas 0.01% · 15,697 shares
- Bio-techne TECHwas 0.01% · 10,707 shares
- West Fraser Timber WFGwas 0.01% · 7,927 shares
- Dole DOLEwas 0.01% · 41,722 shares
- Viking Therapeutics VKTXwas 0.00% · 24,500 shares
- Helmerich & Payne HPwas 0.00% · 21,954 shares
- First Majestic Silver AGwas 0.00% · 84,988 shares
- Otter Tail OTTRwas 0.00% · 7,024 shares
- U-Haul Holding UHALwas 0.00% · 8,374 shares
- Cheesecake Factory CAKEwas 0.00% · 11,023 shares
- Innospec IOSPwas 0.00% · 5,617 shares
- Lancaster Colony MZTIwas 0.00% · 2,991 shares
- Sensient Technologies SXTwas 0.00% · 6,931 shares
- Genco Shipping & Trading GNKwas 0.00% · 37,345 shares
- Shoe Station Group SHOEwas 0.00% · 22,563 shares
- Gibraltar Industries ROCKwas 0.00% · 8,414 shares
- Viavi Solutions VIAVwas 0.00% · 42,679 shares
- West Pharmaceutical Services WSTwas 0.00% · 2,090 shares
- Gentherm THRMwas 0.00% · 17,415 shares
- FormFactor FORMwas 0.00% · 14,909 shares
- Monarch Casino & Resort MCRIwas 0.00% · 5,113 shares
- Hornbeck Offshore Services HOSwas 0.00% · 41,779 shares
- Brightstar Lottery BRSLwas 0.00% · 20,763 shares
- Commercial Metals CMCwas 0.00% · 7,271 shares
- GoodRx Holdings GDRXwas 0.00% · 71,788 shares
- Chesapeake Utilities CPKwas 0.00% · 2,403 shares
- AMN Healthcare Services AMNwas 0.00% · 12,446 shares
- Equinox Gold EQXwas 0.00% · 43,175 shares
- Manulife Financial MFCwas 0.00% · 9,371 shares
- Titan International TWIwas 0.00% · 33,683 shares
- Sun Life Financial SLFwas 0.00% · 4,838 shares
- Addus HomeCare ADUSwas 0.00% · 2,757 shares
- Mirum Pharmaceuticals MIRMwas 0.00% · 6,043 shares
- RYAN Specialty Holdings RYANwas 0.00% · 3,617 shares
- Ichor Holdings ICHRwas 0.00% · 11,574 shares
- LGI Homes LGIHwas 0.00% · 3,864 shares
- Tanger SKTwas 0.00% · 7,553 shares
- VALE VALEwas 0.00% · 25,000 shares
- Skyward Specialty Insurance Group SKWDwas 0.00% · 4,600 shares
- KB Home KBHwas 0.00% · 4,178 shares
- Ambarella AMBAwas 0.00% · 4,748 shares
- Corecivic CXWwas 0.00% · 11,637 shares
- Sanmina SANMwas 0.00% · 3,099 shares
- Cable One CABOwas 0.00% · 852 shares
- Stewart Information Services STCwas 0.00% · 3,057 shares
- Nutrien NTRwas 0.00% · 4,236 shares
- Honest HNSTwas 0.00% · 44,583 shares
- Verra Mobility VRRMwas 0.00% · 9,059 shares
- Balchem BCPCwas 0.00% · 1,220 shares
- Okeanis Eco Tankers ECOwas 0.00% · 9,129 shares
- Trex TREXwas 0.00% · 3,463 shares
- PENN Entertainment PENNwas 0.00% · 10,993 shares
- Vaneck ETF Trust BIZDwas 0.00% · 10,000 shares
- Embecta EMBCwas 0.00% · 10,866 shares
- HighPeak Energy HPKwas 0.00% · 10,508 shares
- HAIN Celestial Group HAINwas 0.00% · 30,296 shares
- Borr Drilling BORRwas 0.00% · 56,016 shares
- Ardelyx ARDXwas 0.00% · 23,996 shares
- Rigetti Computing RGTIwas 0.00% · 14,585 shares
- Gogo GOGOwas 0.00% · 12,605 shares
- Red Cat Holdings RCATwas 0.00% · 17,938 shares
- Global Net Lease GNLwas 0.00% · 11,903 shares
- Avidxchange Holdings AVDXwas 0.00% · 10,778 shares
- Nexxen International was 0.00% · 10,016 shares
- Opendoor Technologies OPENwas 0.00% · 74,625 shares
- B&g Foods BGSwas 0.00% · 10,116 shares
- Stagwell STGWwas 0.00% · 11,409 shares
- Novagold Resources NGwas 0.00% · 17,320 shares
- Northern Dynasty Minerals NAKwas 0.00% · 36,614 shares
- Olaplex Hldgs was 0.00% · 31,167 shares
- Butterfly Network BFLYwas 0.00% · 12,729 shares
- SNDL SNDLwas 0.00% · 19,194 shares
- MicroVision MVISwas 0.00% · 19,753 shares
- OPKO Health OPKwas 0.00% · 11,056 shares
One row per line of the filing (by CUSIP): share classes of the same company are listed separately here. “Change in shares” compares the count with the previous quarter, split-adjusted; the value is the one reported in the 13F at quarter end, not today's price.
Original documents: Gotham Asset Management's 13F filings on EDGAR (SEC) ↗
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Source: 13F filings with the SEC. A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions. Not investment advice.