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 |
Applovin
APP
|
+$1.56B |
| 2 |
Amazon
AMZN
|
+$1.34B |
| 3 |
Eli Lilly
LLY
|
+$1.26B |
| 4 |
NVIDIA
NVDA
|
+$1.08B |
| 5 |
Chevron
CVX
|
+$1.03B |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
HES
Hess
HES
|
+$964M |
| 2 |
ANSS
Ansys
ANSS
|
+$924M |
| 3 |
Johnson & Johnson
JNJ
|
+$753M |
| 4 |
JNPR
Juniper Networks
JNPR
|
+$418M |
| 5 |
American Express
AXP
|
+$253M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 33.52% |
| 2 | Financials | 13.57% |
| 3 | Consumer Discretionary | 10.61% |
| 4 | Communication Services | 9.71% |
| 5 | Healthcare | 9.05% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1926
AdaptHealth
AHCO
$760M
| $23.3M | ﹤0.01% |
2,607,308
+144,425
| +6% | +$1.34M |
|
1927
Evolent Health
EVH
$527M
| $23.3M | ﹤0.01% |
2,757,037
+89,395
| +3% | +$867K |
|
1928
Tootsie Roll Industries
TR
$3.02B
| $23.3M | ﹤0.01% |
572,172
+85,827
| +18% | +$3.25M |
|
1929
PC Connection
CNXN
$2.04B
| $23.2M | ﹤0.01% |
374,056
+3,508
| +0.9% | +$224K |
|
1930
NextDecade
NEXT
$1.8B
| $23.2M | ﹤0.01% |
3,411,406
-130,227
| -4% | -$1.26M |
|
1931
Burke & Herbert Financial Services Corp
BHRB
$1.48B
| $23.1M | ﹤0.01% |
374,096
+36,671
| +11% | +$2.27M |
|
1932
Red Cat Holdings
RCAT
$1.56B
| $23M | ﹤0.01% |
2,222,557
+565,837
| +34% | +$5.29M |
|
1933
Navient
NAVI
$867M
| $22.9M | ﹤0.01% |
1,744,941
-47,887
| -3% | -$650K |
|
|
MFA
1934
MFA Financial
MFA
$931M
| $22.9M | ﹤0.01% |
2,495,455
+5,769
| +0.2% | +$55.7K |
|
1935
Apogee Enterprises
APOG
$888M
| $22.9M | ﹤0.01% |
524,861
-23,196
| -4% | -$996K |
|
1936
Bristow Group
VTOL
$1.38B
| $22.8M | ﹤0.01% |
632,520
+8,202
| +1% | +$301K |
|
|
THS
1937
DELISTED
Treehouse Foods
THS
| $22.8M | ﹤0.01% |
1,127,413
-10,686
| -0.9% | -$203K |
|
1938
Gorman-Rupp
GRC
$2.11B
| $22.6M | ﹤0.01% |
486,982
-33,552
| -6% | -$1.39M |
|
1939
Camping World
CWH
$675M
| $22.5M | ﹤0.01% |
1,424,411
+8,337
| +0.6% | +$143K |
|
1940
Carter's
CRI
$1.44B
| $22.5M | ﹤0.01% |
795,455
-60,782
| -7% | -$1.74M |
|
1941
NETGEAR
NTGR
$647M
| $22.4M | ﹤0.01% |
692,512
+6,664
| +1% | +$182K |
|
1942
BrightView Holdings
BV
$1.08B
| $22.4M | ﹤0.01% |
1,672,273
+169,134
| +11% | +$2.51M |
|
1943
Edgewell Personal Care
EPC
$1.31B
| $22.3M | ﹤0.01% |
1,094,850
-17,434
| -2% | -$409K |
|
|
GPGI
1944
GPGI Inc
GPGI
$3.75B
| $22.2M | ﹤0.01% |
1,067,696
-9,410
| -0.9% | -$163K |
|
1945
Enliven Therapeutics
ELVN
$4.25B
| $22.2M | ﹤0.01% |
1,085,013
+202,260
| +23% | +$4.08M |
|
1946
Integra LifeSciences
IART
$1.42B
| $22.2M | ﹤0.01% |
1,548,221
-94,331
| -6% | -$1.29M |
|
1947
Immunome
IMNM
$3B
| $22.2M | ﹤0.01% |
1,894,575
+33,995
| +2% | +$338K |
|
1948
Merchants Bancorp
MBIN
$2.54B
| $22.2M | ﹤0.01% |
696,469
+14,983
| +2% | +$492K |
|
1949
Phibro Animal Health
PAHC
$1.38B
| $22.1M | ﹤0.01% |
547,160
-7,767
| -1% | -$257K |
|
1950
Esquire Financial Holdings
ESQ
$1.59B
| $22M | ﹤0.01% |
215,546
+15,621
| +8% | +$1.54M |
|
Similar funds
Geode Capital Management's Q3 2025 Portfolio in Review
As of Q3 2025, Geode Capital Management held 4,592 positions worth $1.57T, up 9.9% from $1.43T the previous quarter. Its ten largest holdings account for 34% of the portfolio.
Geode Capital Management's Q3 2025 filing shows 148 new, 2,907 increased, 1,130 reduced and 119 closed positions. Its largest new stake was Paramount Skydance Corp: 8,343,504 shares worth $158M. The largest sale was Hess, an estimated $964M.
By sector, the portfolio is most concentrated in Technology at 34% of assets, up from 32% a quarter earlier, followed by Financials and Consumer Discretionary.
- Geode Capital Management's largest Q3 2025 buy was Paramount Skydance Corp: 8,343,504 shares worth $158M.
- Geode Capital Management added most to Applovin in Q3 2025, an estimated $1.56B increase.
- Geode Capital Management's biggest Q3 2025 reduction was Johnson & Johnson, cutting an estimated $753M.
- Geode Capital Management fully exited Hess in Q3 2025, selling an estimated $964M.
- Geode Capital Management's ten largest holdings make up 34% of its $1.57T portfolio in Q3 2025.
- Geode Capital Management opened 148 new positions and closed 119 in Q3 2025.
- Geode Capital Management's portfolio value rose 9.9% quarter-over-quarter to $1.57T.
Based on Geode Capital Management's 13F filing for Q3 2025, filed 12 Nov 2025.