GILD at a glance
Gilead Sciences (GILD, SEC CIK 882095) filed its latest 10-K annual report on February 24, 2026, a 10-Q quarterly report on August 6, 2026, an 8-K current report on August 4, 2026 and Form 4 insider filings as recently as October 2, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), Gilead Sciences (GILD) reported revenue of $29.4 billion (up 2.4% from FY2024) and net income of $8.5 billion. Diluted EPS was $6.78.
- As of June 30, 2026, 52 institutional investment managers tracked by SignalX reported holding Gilead Sciences (GILD) shares worth $74.3 billion in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by O'Day Daniel Patrick on October 1, 2026 of 3,000 shares at $148.63 per share.
- Gilead Sciences reported 5 positions worth $1.6 billion in its 13F-HR for Q2 2026, filed August 3, 2026. Its largest holdings were Arcus Biosciences Inc. (RCUS) at 58.8%, Lakefront Biotherapeutics (LKFT) at 30.3% and Assembly Biosciences Inc. (ASMB) at 8.3%.
- In the last 90 days, GILD insiders reported 0 open-market purchases ($0) and 26 open-market sales ($15.7M) on Form 4, a net sale of $15.7M.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $29.4B
- +2.4% vs prior year
- Insiders · 90 days
- 0 buys · 26 sells
- Net −$15.7M
- 13F holders
- 52 funds
- $74.3B · −3 vs prior quarter
- Latest 8-K
- Aug 4, 2026
- Item 2.02
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Risk Factors
- IRA + MFN pricing: Biktarvy selected for Medicare price negotiation effective 2028; Gilead signed Dec 2025 agreement implementing MFN Medicaid prices and pausing Section 232 tariffs for 3 years
- Pharmaceutical tariff exposure: U.S. administration announced plans for up to 100% tariffs on imported branded/patented pharmaceuticals; Gilead sources significant raw materials and intermediates from outside U.S.
- CAR T-cell supply chain: relies on third-party apheresis centers, shippers, and single-source tocilizumab/corticosteroid suppliers; disruption risks product loss and regulatory action
- BIOSECURE Act operational risk: prohibits U.S. agency contracts with certain foreign biotech entities used by Gilead in clinical trials and commercial manufacturing, threatening supply and trial timelines
- Revenue concentration: ~90% of U.S. gross product sales flow through just three wholesalers; Cardinal Health, Cencora, and McKesson
Management Discussion & Analysis
- Revenue $29.4B in 2025, up 2% YoY; HIV +6% to $20.8B best performer; Veklury -49% to $911M worst performer
- Product gross margin 78.4% vs 78.2% (+29 bps); SG&A down 5% to $5.8B; effective tax rate 13.1% vs 30.5%
- Net income $8.5B vs $480M YoY; driven by absence of $3.8B CymaBay IPR&D charge and lower IPR&D impairments ($590M vs $4.2B)
- Operating cash flow $10.0B; dividends $4.0B; buybacks $1.9B; debt repaid $1.8B; cash/securities $10.6B at year-end
- 2026 outlook: HIV growth expected; offset by Veklury decline, Cell Therapy competitive headwinds, and U.S. policy-related impacts
Business Overview
- Biopharmaceutical company focused on HIV, viral hepatitis, COVID-19, and oncology; commercial portfolio of 25+ therapies distributed across 35+ countries via wholesale channel (~90% of U.S. sales through 3 wholesalers)
- Yeztugo/Yeytuo (lenacapavir) approved as first and only twice-yearly HIV PrEP option in both U.S. and EU; multiple BLA filings pending for anitocabtagene autoleucel (multiple myeloma) and expanded Trodelvy indications in TNBC first-line and NSCLC
- Pipeline expansion into immuno-oncology via Arcus collaboration: domvanalimab + zimberelimab (anti-TIGIT + anti-PD-1) in Phase 3 for first-line metastatic NSCLC; new competitive thrust beyond CAR-T and ADC
- ~17,000 employees as of December 31, 2025
- Biktarvy patent litigation settled with Lupin, Cipla, and Laurus in October 2025; no generic entry expected before April 1, 2036 in the U.S.
AI summary of the GILD 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Q2 revenue $7,803M, up 10% from $7,082M YoY
- Product gross margin 79.3% vs 78.7% YoY
- Best segment: HIV sales $5,693M, up 12%; Descovy $967M, up 48%
- Worst segment: Veklury sales $23M, down 81%; Cell Therapy $417M, down 14%
- Net loss $10,496M vs $1,960M income; acquisitions drove $11,183M IPR&D expense and $1,750M impairment charge
Risk Factors
- New tariff exposure: April 2026 Proclamation imposed 100% tariffs on patented pharmaceuticals and ingredients, expected in second half of 2026
- Most material update: Biktarvy selected for Medicare Maximum Fair Price determination effective 2028, potentially reducing pricing and profitability
- 340B compliance risk: Recent court decisions increase potential for False Claims Act qui tam actions, with substantial damages and penalties
- Near-term competitive risk: HIV revenue remains vulnerable to generic competition and inability to launch new HIV medicines
- Financial concentration risk: Approximately 90% of U.S. gross product sales historically came through three wholesalers and affiliates
AI summary of the GILD 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 2.02: Results of Operations and Financial Condition
- Gilead reported financial results for quarter ended June 30, 2026
- Full operating metrics and GAAP-to-non-GAAP reconciliations are in Exhibit 99.1
Item EX-99.1: Item EX-99.1
- Q2 revenue rose 10% to $7.8B, led by HIV sales up 12% to $5.7B and Trodelvy sales up 26% to $457M
- Biktarvy grew 7% to $3.8B and Descovy surged 48% to $967M, reinforcing HIV portfolio momentum
Item 2.03: Creation of a Direct Financial Obligation
- Item 2.03 signals a new direct financial obligation or off-balance-sheet arrangement
Item 8.01: Other Events
- Gilead entered an underwriting agreement on May 14, 2026, for issuance and sale of debt notes
- Barclays, BofA Securities and Citigroup acted as underwriter representatives
Item 1.01: Entry into a Material Definitive Agreement
- $3.0B senior-note issuance across 2028, 2029, 2031 and 2034 maturities
- Fixed semiannual coupons ranging from 4.250% to 4.900%
Item 2.02: Results of Operations and Financial Condition
- Q1 2026 results covered quarter ended March 31, 2026, announced May 7, 2026
- Press release Exhibit 99.1 contains financial results and GAAP-to-non-GAAP reconciliations
AI summaries of GILD 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for GILD
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| O'Day Daniel Patrick | Sell | Oct 1, 2026 | 3,000 | $148.63 |
| O'Day Daniel Patrick | Sell | Oct 1, 2026 | 12,000 | $147.72 |
| Burkhart Erin | M | Sep 22, 2026 | 2,223 | - |
| Burkhart Erin | F | Sep 22, 2026 | 768 | $152.67 |
| Burkhart Erin | M | Sep 22, 2026 | 2,223 | - |
| Dickinson Andrew D | Sell | Sep 15, 2026 | 3,000 | $145.29 |
| Mercier Johanna | Sell | Sep 15, 2026 | 800 | $144.46 |
| Mercier Johanna | Sell | Sep 15, 2026 | 1,600 | $143.69 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $28.8B | $29.4B |
| Operating Income | - | $1.7B | $10.0B |
| Net Income | $5.7B | $480.0M | $8.5B |
| Op. Margin | - | 5.8% | 34.0% |
| Net Margin | - | 1.7% | 28.9% |
| Balance Sheet | |||
| Total Assets | - | $59.0B | $59.0B |
| Equity | $22.8B | $19.3B | $22.7B |
| ROE | 24.8% | 2.5% | 37.5% |
| Per Share | |||
| EPS | $4.50 | $0.38 | $6.78 |
| Cash Flow | |||
| Operating CF | - | $10.8B | $10.0B |
| CapEx | $585.0M | $523.0M | $563.0M |
Source: XBRL data in Gilead Sciences (GILD)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate GILD share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 52 | $74.29B |
| Q1 2026 | 55 | $83.05B |
| Q4 2025 | 51 | $73.28B |
| Q3 2025 | 51 | $63.59B |
| Q2 2025 | 49 | $60.26B |
| Q1 2025 | 47 | $42.81B |
| Q4 2024 | 46 | $28.37B |
| Q3 2024 | 40 | $12.02B |
- T. Rowe Price Group+3.75M (+14%)
- BlackRock+2.83M (+2%)
- D.E. Shaw & Co+2.09M (+1042%)
- State Street Corp+1.36M (+2%)
- Morgan Stanley+705.1K (+3%)
- JPMorgan Chase & Co−13.17M (-39%)
- FMR LLC (Fidelity)−5.04M (-7%)
- Invesco Ltd−1.76M (-4%)
- Bank of America Corp−1.33M (-7%)
- Citadel Advisors LLC−501.7K (-13%)
Source: 13F-HR filings on SEC EDGAR (aggregated from 391 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
Gilead Sciences top 13F holdings, Q2 2026
Largest reported positions by market value, from the 13F-HR filed Aug 3, 2026
| # | Company | Weight | Value | Shares | vs Q1 2026 |
|---|---|---|---|---|---|
| 1 | Arcus Biosciences Inc.RCUS | 58.76% | $968.8M | 31,424,760 | Held |
| 2 | Lakefront BiotherapeuticsLKFT | 30.34% | $500.2M | 16,707,477 | Held |
| 3 | Assembly Biosciences Inc.ASMB | 8.29% | $136.8M | 4,977,089 | Added |
| 4 | Kyverna Therapeutics Inc.KYTX | 2.23% | $36.8M | 4,126,119 | Held |
| 5 | Xilio Therapeutics Inc. | 0.38% | $6.2M | 650,389 | Held |
Source: Gilead Sciences 13F-HR on SEC EDGAR. Long equity positions only (put and call options excluded); weights are shares of the reported 13F portfolio, not total assets. How 13F filings work
Gilead Sciences biggest buys and sells, Q2 2026
Largest estimated position changes versus Q1 2026
| Company | Move | Est. flow | Shares now | Weight now |
|---|---|---|---|---|
| Arcellx IncACLX | Sold out | −$771.7M | 0 | - |
| Assembly Biosciences Inc.ASMB | Added | +$13.0M | 4,977,089 | 8.29% |
Estimated flow = change in share count × quarter-end price (0 new, 1 added, 0 trimmed, 1 sold out). 13F reports show holdings on the last day of the quarter, not the trade dates.
GILD filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Oct 2, 2026 | - | - | - |
| 4 | Sep 23, 2026 | - | - | - |
| 4 | Sep 16, 2026 | - | - | - |
| 4 | Sep 16, 2026 | - | - | - |
| 4 | Sep 11, 2026 | - | - | - |
| 4 | Sep 11, 2026 | - | - | - |
| 4 | Sep 11, 2026 | - | - | - |
| 4 | Sep 11, 2026 | - | - | - |
| 4 | Sep 11, 2026 | - | - | - |
| 4 | Sep 2, 2026 | - | - | - |
| 4 | Aug 27, 2026 | - | - | - |
| 4 | Aug 21, 2026 | - | - | - |
| 4 | Aug 18, 2026 | - | - | - |
| 4 | Aug 18, 2026 | - | - | - |
| 4 | Aug 11, 2026 | - | - | - |
| 10-Q | Aug 6, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | Aug 4, 2026 | - | Analysis | - |
| 4 | Aug 4, 2026 | - | - | - |
| 13F-HR | Aug 3, 2026 | Jun 30, 2026 | - | |
| 4 | Jul 16, 2026 | - | - | - |
| 4 | Jul 16, 2026 | - | - | - |
| 4 | Jul 2, 2026 | - | - | - |
| 4 | Jun 16, 2026 | - | - | - |
| 4 | Jun 16, 2026 | - | - | - |
| 4 | Jun 11, 2026 | - | - | - |
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GILD SEC filings: frequently asked questions
Are GILD insiders buying or selling?
In the last 90 days, Gilead Sciences (GILD) officers, directors and 10% owners reported no open-market purchases and 26 open-market sales worth $15.7 million by 5 insiders on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold GILD stock?
As of June 30, 2026, the largest Gilead Sciences (GILD) holders among the 13F filers tracked by SignalX were BlackRock ($15.4 billion), Vanguard Capital Management LLC ($10.2 billion), FMR LLC (Fidelity) ($8.4 billion), State Street Corp ($7.7 billion), Invesco Ltd ($5.0 billion). 13F-HR reports are filed up to 45 days after each quarter ends.
What was GILD's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), Gilead Sciences (GILD) reported revenue of $29.4 billion (up 2.4% from FY2024) and net income of $8.5 billion. Diluted EPS was $6.78. The figures come from the XBRL data in the 10-K.
What are the main risks in GILD's latest 10-K?
In the 10-K filed February 24, 2026, Gilead Sciences (GILD) flagged: IRA + MFN pricing: Biktarvy selected for Medicare price negotiation effective 2028; Gilead signed Dec 2025 agreement implementing MFN Medicaid prices and pausing Section 232 tariffs for 3 years. Pharmaceutical tariff exposure: U.S. administration announced plans for up to 100% tariffs on imported branded/patented pharmaceuticals; Gilead sources significant raw materials and intermediates from outside U.S. (AI summary of the Risk Factors section.)
What did GILD report in its latest 8-K?
Gilead Sciences (GILD) filed an 8-K on August 4, 2026 reporting Item 2.02 (Results of Operations and Financial Condition). Gilead reported financial results for quarter ended June 30, 2026.
What stocks does Gilead Sciences own?
In its 13F-HR for Q2 2026 (filed August 3, 2026), Gilead Sciences reported 5 positions worth $1.6 billion. The largest were Arcus Biosciences Inc. (RCUS), 58.8%; Lakefront Biotherapeutics (LKFT), 30.3%; Assembly Biosciences Inc. (ASMB), 8.3%; Kyverna Therapeutics Inc. (KYTX), 2.2%; Xilio Therapeutics Inc., 0.4%. The top 10 positions were 100.0% of the portfolio.
What did Gilead Sciences buy in Q2 2026?
Compared with Q1 2026, Gilead Sciences's largest estimated purchases were Assembly Biosciences Inc. (ASMB) (added, about $13.0 million). In total it opened 0 new positions and added to 1. Amounts are estimated from share-count changes at quarter-end prices.
What did Gilead Sciences sell in Q2 2026?
Compared with Q1 2026, Gilead Sciences's largest estimated sales were Arcellx Inc (ACLX) (sold out, about $771.7 million). In total it sold out of 1 positions and trimmed 0.
When does Gilead Sciences file 13F reports?
Gilead Sciences's latest 13F-HR was filed August 3, 2026 and covers the quarter ended June 30, 2026. 13F-HR reports are due within 45 days of each quarter-end, so the Q3 2026 report is due by November 14, 2026.
What are the latest GILD SEC filings?
Gilead Sciences (GILD) filed its latest 10-K annual report on February 24, 2026, a 10-Q quarterly report on August 6, 2026, an 8-K current report on August 4, 2026 and a Form 4 insider filing on October 2, 2026.
What is GILD's SEC CIK number?
Gilead Sciences (GILD)'s SEC Central Index Key (CIK) is 882095. EDGAR lists every GILD filing under that number.
Ask anything about GILD
The research agent reads GILD's filings, financials, insider trades and 13F holders, then answers with sources.