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 | |
|---|---|---|---|---|---|---|
2101
Lincoln Educational Services
LINC
$955M
| $17M | ﹤0.01% |
705,191
-2,538
| -0.4% | -$55.3K |
|
2102
Replimune Group
REPL
$1.42B
| $17M | ﹤0.01% |
1,750,194
+54,746
| +3% | +$465K |
|
2103
Energy Recovery
ERII
$399M
| $17M | ﹤0.01% |
1,260,894
-30,849
| -2% | -$468K |
|
|
PRSU
2104
Pursuit Attractions and Hospitality Inc
PRSU
$1.29B
| $17M | ﹤0.01% |
504,899
-3,444
| -0.7% | -$120K |
|
|
RWT
2105
Redwood Trust
RWT
$599M
| $17M | ﹤0.01% |
3,070,856
-98,190
| -3% | -$540K |
|
2106
Brown-Forman Class A
BF.A
$13.1B
| $16.9M | ﹤0.01% |
642,656
+37,178
| +6% | +$1.04M |
|
2107
Quanex
NX
$981M
| $16.9M | ﹤0.01% |
1,099,557
+4,976
| +0.5% | +$70.3K |
|
2108
Embecta
EMBC
$290M
| $16.8M | ﹤0.01% |
1,411,250
-16,549
| -1% | -$218K |
|
2109
Sana Biotechnology
SANA
$1.1B
| $16.8M | ﹤0.01% |
4,118,138
+694,606
| +20% | +$3.11M |
|
2110
Hippo Holdings
HIPO
$869M
| $16.8M | ﹤0.01% |
557,066
+108,359
| +24% | +$3.62M |
|
2111
Icon
ICLR
$12.9B
| $16.7M | ﹤0.01% |
91,673
-2,045
| -2% | -$364K |
|
2112
PRA Group
PRAA
$762M
| $16.7M | ﹤0.01% |
943,954
-15,872
| -2% | -$247K |
|
2113
Sweetgreen
SG
$721M
| $16.6M | ﹤0.01% |
2,453,564
+16,281
| +0.7% | +$112K |
|
2114
UWM Holdings
UWMC
$2.61B
| $16.6M | ﹤0.01% |
3,778,036
+225,290
| +6% | +$1.21M |
|
2115
Regenxbio
RGNX
$704M
| $16.5M | ﹤0.01% |
1,145,206
+19,658
| +2% | +$245K |
|
2116
NWPX Infrastructure Inc
NWPX
$1.11B
| $16.4M | ﹤0.01% |
262,463
-3,017
| -1% | -$174K |
|
2117
Green Plains
GPRE
$1.09B
| $16.4M | ﹤0.01% |
1,672,225
+93,950
| +6% | +$946K |
|
|
WSR
2118
DELISTED
Whitestone REIT
WSR
| $16.4M | ﹤0.01% |
1,179,004
-5,273
| -0.4% | -$68K |
|
2119
American Public Education
APEI
$828M
| $16.3M | ﹤0.01% |
432,003
+6,729
| +2% | +$241K |
|
2120
Carriage Services
CSV
$555M
| $16.3M | ﹤0.01% |
386,018
+5,870
| +2% | +$255K |
|
2121
Orrstown Financial Services
ORRF
$855M
| $16.3M | ﹤0.01% |
460,814
-7,128
| -2% | -$249K |
|
2122
Marten Transport
MRTN
$1.24B
| $16.3M | ﹤0.01% |
1,433,512
-35,299
| -2% | -$374K |
|
|
RYZ
2123
Ryerson Holding Corp
RYZ
$1.5B
| $16.3M | ﹤0.01% |
646,011
-3,271
| -0.5% | -$75.2K |
|
2124
Republic Bancorp
RBCAA
$1.92B
| $16.2M | ﹤0.01% |
234,752
-90
| -0% | -$6.23K |
|
2125
Independent Bank Corp
IBCP
$854M
| $16.2M | ﹤0.01% |
496,975
-8,672
| -2% | -$279K |
|
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.