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 | |
|---|---|---|---|---|---|---|
1676
Blue Bird Corp
BLBD
$2.05B
| $36.2M | ﹤0.01% |
769,204
+3,120
| +0.4% | +$163K |
|
1677
Arbor Realty Trust
ABR
$981M
| $36.1M | ﹤0.01% |
4,651,016
+78,068
| +2% | +$765K |
|
1678
Enovis
ENOV
$1.48B
| $36M | ﹤0.01% |
1,352,882
-2,071
| -0.2% | -$61.2K |
|
1679
Sally Beauty Holdings
SBH
$1.55B
| $36M | ﹤0.01% |
2,525,003
-26,569
| -1% | -$400K |
|
1680
Shoals Technologies Group
SHLS
$1.37B
| $35.9M | ﹤0.01% |
4,227,533
+33,378
| +0.8% | +$300K |
|
1681
Axogen
AXGN
$2.58B
| $35.9M | ﹤0.01% |
1,095,597
+16,146
| +1% | +$397K |
|
1682
German American Bancorp
GABC
$1.92B
| $35.8M | ﹤0.01% |
914,637
+479
| +0.1% | +$18.9K |
|
1683
Vertex
VERX
$2.15B
| $35.8M | ﹤0.01% |
1,792,864
+93,184
| +5% | +$2.02M |
|
1684
Healthcare Services Group
HCSG
$1.45B
| $35.7M | ﹤0.01% |
1,868,458
-25,677
| -1% | -$462K |
|
|
SILA
1685
DELISTED
Sila Realty Trust
SILA
| $35.7M | ﹤0.01% |
1,529,888
-1,046
| -0.1% | -$24.6K |
|
|
JBS
1686
JBS N.V.
JBS
$43.8B
| $35.6M | ﹤0.01% |
2,494,292
+314,626
| +14% | +$4.32M |
|
1687
Willdan Group
WLDN
$1.29B
| $35.6M | ﹤0.01% |
343,000
+2,185
| +0.6% | +$215K |
|
1688
MaxLinear
MXL
$6.95B
| $35.5M | ﹤0.01% |
2,038,144
+28,548
| +1% | +$465K |
|
1689
PENN Entertainment
PENN
$2.53B
| $35.5M | ﹤0.01% |
2,405,031
-136,820
| -5% | -$2.13M |
|
1690
Cedar Fair
FUN
$1.71B
| $35.5M | ﹤0.01% |
2,311,520
+11,587
| +0.5% | +$209K |
|
1691
Fastly Inc
FSLY
$4.78B
| $35.4M | ﹤0.01% |
3,477,675
+233,184
| +7% | +$2.3M |
|
1692
Array Technologies
ARRY
$796M
| $35.3M | ﹤0.01% |
3,830,233
+50,658
| +1% | +$435K |
|
|
XHR
1693
Xenia Hotels & Resorts
XHR
$1.76B
| $35.3M | ﹤0.01% |
2,495,641
-52,711
| -2% | -$719K |
|
1694
Lakeland Financial Corp
LKFN
$1.56B
| $35.3M | ﹤0.01% |
617,754
-1,678
| -0.3% | -$99.7K |
|
1695
Hilltop Holdings
HTH
$2.28B
| $35.2M | ﹤0.01% |
1,036,768
-17,003
| -2% | -$570K |
|
1696
Innoviva
INVA
$1.5B
| $35M | ﹤0.01% |
1,752,438
+178,238
| +11% | +$3.48M |
|
1697
Appian
APPN
$2.65B
| $34.9M | ﹤0.01% |
985,878
-22,094
| -2% | -$787K |
|
1698
Leggett & Platt
LEG
$1.32B
| $34.9M | ﹤0.01% |
3,173,733
+183,218
| +6% | +$1.8M |
|
1699
Albany International
AIN
$1.82B
| $34.9M | ﹤0.01% |
688,478
-20,999
| -3% | -$1.09M |
|
1700
NovaGold Resources
NG
$3.4B
| $34.8M | ﹤0.01% |
3,730,918
-2,275
| -0.1% | -$21.1K |
|
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.