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 | |
|---|---|---|---|---|---|---|
176
Cummins
CMI
$88.9B
| $1.49B | 0.1% |
3,549,180
+49,940
| +1% | +$19.1M |
|
177
CSX Corp
CSX
$93.5B
| $1.49B | 0.1% |
42,183,407
-95,614
| -0.2% | -$3.27M |
|
178
Allstate
ALL
$67.3B
| $1.48B | 0.09% |
6,938,697
+224,068
| +3% | +$45.2M |
|
179
PayPal
PYPL
$50.8B
| $1.45B | 0.09% |
21,765,549
-163,422
| -0.7% | -$11.5M |
|
180
Norfolk Southern
NSC
$75.3B
| $1.45B | 0.09% |
4,841,824
+19,749
| +0.4% | +$5.49M |
|
181
EOG Resources
EOG
$74.2B
| $1.45B | 0.09% |
12,951,449
-53,603
| -0.4% | -$6.39M |
|
182
Fortinet
FTNT
$120B
| $1.44B | 0.09% |
17,181,771
+264,797
| +2% | +$23.6M |
|
183
Regeneron Pharmaceuticals
REGN
$83.2B
| $1.42B | 0.09% |
2,535,898
+70,844
| +3% | +$40.1M |
|
184
United Parcel Service
UPS
$89.5B
| $1.41B | 0.09% |
16,913,838
+290,004
| +2% | +$26.3M |
|
185
Phillips 66
PSX
$87B
| $1.4B | 0.09% |
10,368,484
+41,180
| +0.4% | +$5.28M |
|
186
Ameriprise Financial
AMP
$49.5B
| $1.39B | 0.09% |
2,841,367
+22,939
| +0.8% | +$11.8M |
|
187
Air Products & Chemicals
APD
$69.2B
| $1.39B | 0.09% |
5,117,398
-17,152
| -0.3% | -$4.97M |
|
188
Valero Energy
VLO
$91.5B
| $1.38B | 0.09% |
8,157,792
+16,281
| +0.2% | +$2.43M |
|
189
Marriott International
MAR
$91.7B
| $1.36B | 0.09% |
5,237,945
+14,406
| +0.3% | +$3.87M |
|
190
TE Connectivity
TEL
$63.5B
| $1.34B | 0.09% |
6,122,966
-125,238
| -2% | -$25.1M |
|
191
General Motors
GM
$78.1B
| $1.33B | 0.09% |
21,974,904
+150,286
| +0.7% | +$8.38M |
|
|
EA
192
DELISTED
Electronic Arts
EA
| $1.33B | 0.09% |
6,621,377
-22,778
| -0.3% | -$3.77M |
|
193
Ross Stores
ROST
$81.6B
| $1.33B | 0.08% |
8,741,485
+67,662
| +0.8% | +$9.66M |
|
194
Apollo Global Management
APO
$78.7B
| $1.33B | 0.08% |
9,998,525
+279,860
| +3% | +$39.6M |
|
195
Yum! Brands
YUM
$39.3B
| $1.32B | 0.08% |
8,679,078
+463,036
| +6% | +$68.2M |
|
196
Truist Financial
TFC
$63.7B
| $1.32B | 0.08% |
28,954,823
+763,701
| +3% | +$34.4M |
|
197
CBRE Group
CBRE
$42.6B
| $1.32B | 0.08% |
8,324,104
+74,663
| +0.9% | +$11.6M |
|
198
Xcel Energy
XEL
$48.2B
| $1.32B | 0.08% |
16,369,626
+178,422
| +1% | +$12.9M |
|
199
Monster Beverage
MNST
$89B
| $1.3B | 0.08% |
38,588,662
+1,227,814
| +3% | +$38.3M |
|
200
Roper Technologies
ROP
$39.9B
| $1.3B | 0.08% |
2,619,238
+44,735
| +2% | +$23.9M |
|
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.