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 | |
|---|---|---|---|---|---|---|
2301
Global Industrial
GIC
$1.49B
| $12.2M | ﹤0.01% |
332,694
+397
| +0.1% | +$13.3K |
|
2302
Grid Dynamics Holdings
GDYN
$644M
| $12.2M | ﹤0.01% |
1,581,585
-58,407
| -4% | -$521K |
|
2303
Patria Investments
PAX
$1.88B
| $12.2M | ﹤0.01% |
834,853
+4,575
| +0.6% | +$63.9K |
|
2304
Sana Biotechnology
SANA
$1.1B
| $12.2M | ﹤0.01% |
3,423,532
+143,741
| +4% | +$520K |
|
2305
SmartFinancial
SMBK
$899M
| $12.2M | ﹤0.01% |
339,978
+2,484
| +0.7% | +$88.9K |
|
2306
Invesco Mortgage Capital
IVR
$805M
| $12.1M | ﹤0.01% |
1,606,878
+29,811
| +2% | +$227K |
|
|
GOLD
2307
Gold.com Inc
GOLD
$1.27B
| $12.1M | ﹤0.01% |
468,777
+6,195
| +1% | +$147K |
|
|
KREF
2308
KKR Real Estate Finance Trust
KREF
$502M
| $12.1M | ﹤0.01% |
1,344,069
-17,330
| -1% | -$161K |
|
|
NAGE
2309
Niagen Bioscience
NAGE
$241M
| $12.1M | ﹤0.01% |
1,295,467
-18
| -0% | -$182 |
|
|
GDEN
2310
DELISTED
Golden Entertainment
GDEN
| $12.1M | ﹤0.01% |
511,400
+3,290
| +0.6% | +$87.6K |
|
|
CAI
2311
Caris Life Sciences
CAI
$6.27B
| $12M | ﹤0.01% |
398,328
+163,094
| +69% | +$5.2M |
|
2312
Dave & Buster's
PLAY
$370M
| $12M | ﹤0.01% |
662,969
-13,930
| -2% | -$366K |
|
2313
Rigel Pharmaceuticals
RIGL
$762M
| $12M | ﹤0.01% |
423,723
+8,116
| +2% | +$243K |
|
2314
Star Bulk Carriers
SBLK
$3.21B
| $12M | ﹤0.01% |
643,792
+521,677
| +427% | +$9.83M |
|
2315
Backblaze
BLZE
$1.26B
| $12M | ﹤0.01% |
1,288,280
+119,722
| +10% | +$879K |
|
|
SKYT
2316
DELISTED
SkyWater Technology
SKYT
| $12M | ﹤0.01% |
640,476
+41,873
| +7% | +$484K |
|
|
USAR
2317
USA Rare Earth Inc
USAR
$4.55B
| $11.9M | ﹤0.01% |
693,107
+39,817
| +6% | +$569K |
|
2318
Third Coast Bancshares
TCBX
$766M
| $11.9M | ﹤0.01% |
313,206
-756
| -0.2% | -$28.7K |
|
|
XRN
2319
Chiron Real Estate Inc
XRN
$484M
| $11.9M | ﹤0.01% |
351,792
+2,032
| +0.6% | +$72.3K |
|
|
FSUN
2320
FirstSun Capital Bancorp
FSUN
$2.02B
| $11.9M | ﹤0.01% |
305,704
+7,796
| +3% | +$294K |
|
|
BOW
2321
Bowhead Specialty Holdings
BOW
$1.1B
| $11.8M | ﹤0.01% |
437,235
+158,777
| +57% | +$4.97M |
|
2322
Algonquin Power & Utilities
AQN
$4.48B
| $11.8M | ﹤0.01% |
1,769,144
+155,999
| +10% | +$897K |
|
2323
Gray Television
GTN
$520M
| $11.8M | ﹤0.01% |
2,039,422
-11,222
| -0.5% | -$60.9K |
|
2324
Ginkgo Bioworks
DNA
$488M
| $11.8M | ﹤0.01% |
808,360
-129,223
| -14% | -$1.55M |
|
2325
Columbia Financial
CLBK
$1.22B
| $11.8M | ﹤0.01% |
784,133
+16,132
| +2% | +$240K |
|
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.