AQR reports 5.09% stake in Exelixis

AQR Capital Management, LLC and AQR Capital Management Holdings, LLC report beneficial ownership of 13,658,388 shares of Exelixis, Inc. common stock, representing 5.09% of the class.

Rhea-AI Filing Summary

AQR Capital Management, LLC and AQR Capital Management Holdings, LLC report beneficial ownership of 13,658,388 shares of Exelixis, Inc. common stock, representing 5.09% of the class. They hold shared power to vote and dispose of these shares, with no sole voting or dispositive power.

The firms state the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Exelixis.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What percentage of Exelixis (EXEL) does AQR report owning in this Schedule 13G?

AQR reports beneficial ownership of 5.09% of Exelixis common stock. This stake corresponds to 13,658,388 shares, giving AQR and its holding company a significant reporting-level position without crossing into control-focused ownership.

How many Exelixis (EXEL) shares are beneficially owned by AQR?

AQR reports beneficial ownership of 13,658,388 Exelixis common shares. These shares are held with shared voting and shared dispositive power by AQR Capital Management, LLC and AQR Capital Management Holdings, LLC, with no sole authority over voting or disposition.

Does AQR have sole or shared voting power over its Exelixis (EXEL) shares?

AQR reports 0 shares with sole voting power and 13,658,388 shares with shared voting power. The same numbers apply to dispositive power, indicating decisions about voting and selling are shared rather than controlled by a single reporting entity.

What is the nature of AQR’s investment in Exelixis (EXEL) according to the filing?

AQR certifies the Exelixis shares were acquired and are held in the ordinary course of business. The filing states they were not acquired to change or influence control of Exelixis, aligning with a passive investment stance.

Which entities are the reporting persons for this Exelixis (EXEL) Schedule 13G?

The reporting persons are AQR Capital Management, LLC and AQR Capital Management Holdings, LLC. The filing notes that AQR Capital Management, LLC is a wholly owned subsidiary of AQR Capital Management Holdings, LLC, and the statement is filed on behalf of both.

When did AQR’s reportable event in Exelixis (EXEL) occur for this Schedule 13G?

The date of the event requiring this Schedule 13G filing is December 31, 2025. That date marks when AQR’s beneficial ownership position in Exelixis reached a level that triggered the reporting obligation.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 02/13/2026 - 11:37 AM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

EXELIXIS, INC.

(Name of Issuer)

Common Stock, $0.001 Par Value per Share

(Title of Class of Securities)

30161Q104

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 30161Q104

1

Names of Reporting Persons

AQR Capital Management, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 13,658,388.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 13,658,388.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

13,658,388.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.09 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 30161Q104

1

Names of Reporting Persons

AQR Capital Management Holdings, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 13,658,388.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 13,658,388.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

13,658,388.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.09 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: EXELIXIS, INC.
(b)	Address of issuer's principal executive offices: 1851 HARBOR BAY PARKWAY, ALAMEDA, CALIFORNIA 94502
Item 2.
(a)	Name of person filing: AQR Capital Management, LLC AQR Capital Management Holdings, LLC
(b)	Address or principal business office or, if none, residence: ONE GREENWICH PLAZA SUITE 130 Greenwich, Connecticut 06830
(c)	Citizenship: AQR Capital Management, LLC - UNITED STATES AQR Capital Management Holdings, LLC - UNITED STATES
(d)	Title of class of securities: Common Stock, $0.001 Par Value per Share
(e)	CUSIP No.: 30161Q104
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 13,658,388
(b)	Percent of class: 5.09 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: AQR Capital Management, LLC - 0 AQR Capital Management Holdings, LLC - 0
	(ii) Shared power to vote or to direct the vote: AQR Capital Management, LLC - 13,658,388 AQR Capital Management Holdings, LLC - 13,658,388
	(iii) Sole power to dispose or to direct the disposition of: AQR Capital Management, LLC - 0 AQR Capital Management Holdings, LLC - 0
	(iv) Shared power to dispose or to direct the disposition of: AQR Capital Management, LLC - 13,658,388 AQR Capital Management Holdings, LLC - 13,658,388
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Item 2(a) above.
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

AQR Capital Management, LLC

Signature:	Henry Parkin
Name/Title:	Authorized Signatory
Date:	02/13/2026

AQR Capital Management Holdings, LLC

Signature:	Henry Parkin
Name/Title:	Authorized Signatory
Date:	02/13/2026

Exhibit Information

AQR Capital Management Holdings, LLC and AQR Capital Management, LLC hereby agree that this Schedule 13G is filed on behalf of each of the parties. AQR Capital Management, LLC is a wholly owned subsidiary of AQR Capital Management Holdings, LLC.