Geode Capital Management Portfolio holdings
Geode Capital Management, founded in 2001 and based in Boston, Massachusetts, is a prominent institutional asset management firm known for its expertise in low-cost, systematic index investing. Originally established to manage internal index funds for Fidelity Investments, Geode became an independent entity while retaining a close relationship with Fidelity, focusing on passive investment strategies that track major market indices. The firm oversees hundreds of billions in assets, offering a range of mutual funds and separately managed accounts primarily for institutional clients, such as pension funds and endowments, with an emphasis on minimizing costs and maximizing efficiency. Geode’s disciplined, quantitative approach and avoidance of active management have made it a key player in the rise of index-based investing.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$958M |
| 2 |
AbbVie
ABBV
|
+$955M |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$762M |
| 4 |
CRH
CRH
|
+$705M |
| 5 |
Walmart Inc
WMT
|
+$700M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
K
Kellanova
K
|
+$604M |
| 2 |
DuPont de Nemours
DD
|
+$568M |
| 3 |
Applied Materials
AMAT
|
+$558M |
| 4 |
IPG
Interpublic Group of Companies
IPG
|
+$277M |
| 5 |
Blackstone
BX
|
+$249M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 33.03% |
| 2 | Financials | 13.5% |
| 3 | Consumer Discretionary | 10.4% |
| 4 | Communication Services | 10.05% |
| 5 | Healthcare | 9.95% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
376
Steel Dynamics
STLD
$38B
| $620M | 0.04% |
3,672,896
-15,124
| -0.4% | -$2.4M |
|
377
PTC
PTC
$16.3B
| $620M | 0.04% |
3,570,540
+71,181
| +2% | +$13.2M |
|
378
T. Rowe Price
TROW
$24.3B
| $619M | 0.04% |
6,072,142
-2,248
| -0% | -$232K |
|
379
Darden Restaurants
DRI
$24.8B
| $619M | 0.04% |
3,374,663
-11,692
| -0.3% | -$2.13M |
|
380
SoFi Technologies
SOFI
$23.1B
| $618M | 0.04% |
23,642,936
+1,951,248
| +9% | +$54.4M |
|
381
Dollar Tree
DLTR
$24.5B
| $618M | 0.04% |
5,044,778
-129,778
| -3% | -$13.9M |
|
382
Live Nation Entertainment
LYV
$42.8B
| $611M | 0.04% |
4,301,900
+20,165
| +0.5% | +$2.9M |
|
383
Hubbell
HUBB
$27.4B
| $609M | 0.04% |
1,376,000
+10,898
| +0.8% | +$4.77M |
|
384
Pultegroup
PHM
$25.2B
| $609M | 0.04% |
5,210,744
-31,811
| -0.6% | -$3.9M |
|
385
Rollins
ROL
$17.8B
| $608M | 0.04% |
10,163,847
+626,866
| +7% | +$36.8M |
|
386
HP
HPQ
$26.6B
| $607M | 0.04% |
27,313,924
+274,033
| +1% | +$6.99M |
|
387
MongoDB
MDB
$34.8B
| $604M | 0.04% |
1,444,384
+9,693
| +0.7% | +$3.53M |
|
388
Waters Corp
WAT
$40.5B
| $603M | 0.04% |
1,593,388
+8,590
| +0.5% | +$3.16M |
|
389
FirstEnergy
FE
$27.1B
| $600M | 0.04% |
13,463,298
+126,834
| +1% | +$5.82M |
|
390
Natera
NTRA
$45.7B
| $596M | 0.04% |
2,608,644
+11,689
| +0.5% | +$2.44M |
|
391
ON Semiconductor
ON
$31.4B
| $595M | 0.04% |
11,008,373
-165,682
| -1% | -$8.5M |
|
392
SBA Communications
SBAC
$19.4B
| $595M | 0.04% |
3,085,112
+16,153
| +0.5% | +$3.12M |
|
393
PPG Industries
PPG
$25.7B
| $593M | 0.04% |
5,809,127
+135,529
| +2% | +$13.6M |
|
394
Strategy Inc
MSTR
$37.8B
| $593M | 0.04% |
3,911,499
+175,343
| +5% | +$40.4M |
|
395
VeriSign
VRSN
$26.4B
| $588M | 0.04% |
2,420,750
-29,184
| -1% | -$7.33M |
|
396
W.R. Berkley
WRB
$26.2B
| $587M | 0.04% |
8,348,791
+4,536
| +0.1% | +$334K |
|
397
United Therapeutics
UTHR
$22.5B
| $580M | 0.04% |
1,193,064
-56,596
| -5% | -$26.4M |
|
398
CMS Energy
CMS
$21.7B
| $580M | 0.04% |
8,323,146
+183,589
| +2% | +$13.4M |
|
399
Lennar Class A
LEN
$21B
| $576M | 0.04% |
5,621,682
-315,736
| -5% | -$38.1M |
|
400
Coupang
CPNG
$29.6B
| $574M | 0.04% |
24,327,724
+1,689,293
| +7% | +$48.1M |
|
Similar funds
Geode Capital Management's Q4 2025 Portfolio in Review
As of Q4 2025, Geode Capital Management held 4,586 positions worth $1.62T, up 3.4% from $1.57T the previous quarter. Its ten largest holdings account for 34% of the portfolio.
Geode Capital Management's Q4 2025 filing shows 113 new, 2,855 increased, 1,222 reduced and 117 closed positions. Its largest new stake was Qnity Electronics Inc: 5,358,208 shares worth $436M. The largest sale was Kellanova, an estimated $604M.
By sector, the portfolio is most concentrated in Technology at 33% of assets, down from 34% a quarter earlier, followed by Financials and Consumer Discretionary.
- Geode Capital Management's largest Q4 2025 buy was Qnity Electronics Inc: 5,358,208 shares worth $436M.
- Geode Capital Management added most to Microsoft in Q4 2025, an estimated $958M increase.
- Geode Capital Management's biggest Q4 2025 reduction was DuPont de Nemours, cutting an estimated $568M.
- Geode Capital Management fully exited Kellanova in Q4 2025, selling an estimated $604M.
- Geode Capital Management's ten largest holdings make up 34% of its $1.62T portfolio in Q4 2025.
- Geode Capital Management opened 113 new positions and closed 117 in Q4 2025.
- Geode Capital Management's portfolio value rose 3.4% quarter-over-quarter to $1.62T.
Based on Geode Capital Management's 13F filing for Q4 2025, filed 9 Feb 2026.