Gotham Funds
Gotham Asset Management is a premier equity investment management firm specializing in U.S. and international value investing strategies for institutional and individual investors. Founded by Joel Greenblatt and Robert Goldstein, the firm brings together over five decades of combined experience in research driven value investing. Gotham applies a systematic fundamental value approach developed by its principals to manage a diverse range of long only and long/short equity portfolios. The firm manages assets on behalf of a prestigious client base that includes pensions, endowments, foundations, and family offices. By offering both hedge fund and mutual fund structures, Gotham provides flexible access to its sophisticated investment strategies. Today, the firm continues to build on its legacy of rigorous stock selection and disciplined valuation, managing billions in assets for global clients.
STRATEGIC INVESTMENT SOLUTIONS & FUND OFFERINGS
Gotham Absolute Return Fund (GARIX): A diversified long/short strategy designed to deliver consistent returns with lower volatility than the broader equity markets by maintaining a targeted net long exposure of approximately 50% to 60%.
Gotham Enhanced Return Fund (GENIX): A 100% net long strategy (typically 170% long and 70% short) that seeks to outperform the S&P 500 over a full market cycle through active, valuation-based stock selection.
Gotham Neutral Fund (GONIX): A market-neutral strategy that aims to provide returns uncorrelated to the general stock market by maintaining approximately equal long and short dollar exposures.
Gotham Enhanced S&P 500 Index Fund (GSPFX): A value-weighted approach to the S&P 500 that invests in index constituents but weights them based on Gotham’s assessment of their relative discount to fair value.
Gotham Index Plus Fund (GINDX): This strategy combines a traditional long position in the S&P 500 with an additional long/short value overlay to seek capital appreciation in excess of the index.
Gotham Large Value Fund (GVALX): A long-only strategy focusing on a concentrated selection of large-cap U.S. companies that appear significantly undervalued based on the firm's fundamental research.
Gotham Enhanced 500 ETF (GSPY): An actively managed ETF that generally invests in S&P 500 securities but reweights them to favor those the firm believes are priced at the largest discount to value.
Gotham 1000 Value ETF (GVLU): Focuses on a broader universe of the 1,000 largest U.S. companies, applying the same systematic value weighting to target long-term outperformance.
INSTITUTIONAL SERVICES & INVESTMENT PROCESS
Systematic Valuation: The firm utilizes a bottom-up, fundamental framework to evaluate a universe of over 1,700 companies daily, identifying mispriced securities on both an absolute and relative basis.
Active Risk Management: Portfolios are constructed using strict risk controls, including maximum limits for sector concentration and the maintenance of over 600 long and 500 short positions to mitigate idiosyncratic risk.
Manager Alignment: Significant personal co-investment by the firm's principals ensures that Gotham’s leadership is fully aligned with the long-term success of its clients.
Daily Rebalancing: Portfolios are repositioned every trading day to reflect the most current fundamental information and price movements, ensuring that allocations remain focused on the largest identified discounts to value.