Morgan Stanley (OPEN) discloses 5.3% Opendoor stake in 13G filing

Rhea-AI Filing Summary

Morgan Stanley and Morgan Stanley Investment Management Inc. report a 5.3% beneficial ownership stake in Opendoor Technologies Inc. common stock, totaling 50,555,152 shares. The position relates to Opendoor’s common stock with CUSIP 683712103 and is reported as of 12/31/2025.

The firms report only shared voting and dispositive power over these shares, with no sole voting or dispositive authority. They certify the holdings were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Opendoor.

Insights

Equity ownership analyst

Morgan Stanley discloses a passive 5.3% stake in Opendoor.

Morgan Stanley and Morgan Stanley Investment Management Inc. report beneficial ownership of 50,555,152 Opendoor Technologies Inc. common shares, representing 5.3% of the class as of 12/31/2025. The filing details only shared, not sole, voting and dispositive power over these shares.

The certification states the position was acquired and is held in the ordinary course of business and not to change or influence control. This characterizes the holding as passive rather than activist, which typically implies less direct governance pressure on Opendoor from this shareholder.

The disclosure clarifies Opendoor’s ownership profile by identifying a large institutional holder over the 5% threshold. Future ownership updates in similar disclosures would show whether this stake grows, shrinks, or remains stable relative to Opendoor’s total common shares outstanding.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Opendoor Technologies Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

683712103

(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. 683712103

1

Names of Reporting Persons

Morgan Stanley

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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 48,824,110.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 50,555,092.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

50,555,152.00

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)

5.3 %

12

Type of Reporting Person (See Instructions)

HC, CO

SCHEDULE 13G

CUSIP No. 683712103

1

Names of Reporting Persons

Morgan Stanley Investment Management Inc.

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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 48,659,208.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 50,364,801.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

50,364,861.00

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)

5.3 %

12

Type of Reporting Person (See Instructions)

IA, CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Opendoor Technologies Inc.
(b)	Address of issuer's principal executive offices: 410 N. SCOTTSDALE ROAD, SUITE 1000, TEMPE, AZ, 85288
Item 2.
(a)	Name of person filing: 1: Morgan Stanley 2: Morgan Stanley Investment Management Inc.
(b)	Address or principal business office or, if none, residence: 1: 1585 Broadway, New York, NY 10036 ;2: 1585 Broadway New York, NY 10036
(c)	Citizenship: 1: Delaware 2: Delaware
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 683712103
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: See the response(s) to Item 9 on the attached cover page(s).
(b)	Percent of class: 5.3 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See the response(s) to Item 5 on the attached cover page(s).
	(ii) Shared power to vote or to direct the vote: See the response(s) to Item 6 on the attached cover page(s).
	(iii) Sole power to dispose or to direct the disposition of: See the response(s) to Item 7 on the attached cover page(s).
	(iv) Shared power to dispose or to direct the disposition of: See the response(s) to Item 8 on the attached cover page(s).
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 Exhibit 99.2
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. * In Accordance with the Securities and Exchange Commission Release No. 34-39538 (January 12, 1998) (the "Release"), this filing reflects the securities beneficially owned, or that may be deemed to be beneficially owned, by certain operating units (collectively, the "MS Reporting Units") of Morgan Stanley and its subsidiaries and affiliates (collectively, "MS"). This filing does not reflect securities, if any, beneficially owned by any operating units of MS whose ownership of securities is disaggregated from that of the MS Reporting Units in accordance with the Release.

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.

Morgan Stanley

Signature:	Christopher O'Hara
Name/Title:	Authorized Signatory, Morgan Stanley
Date:	02/12/2026

Morgan Stanley Investment Management Inc.

Signature:	Deidre A. Downes
Name/Title:	Authorized Signatory, Morgan Stanley Investment Management Inc.
Date:	02/12/2026

Exhibit Information

EXHIBIT NO. EXHIBITS ------------------ ------------------------------------ 99.1 Joint Filing Agreement 99.2 Item 7 Information * Attention. Intentional misstatements or omissions of fact constitute federal criminal violations (see 18 U.S.C. 1001).

FAQ

What stake in Opendoor Technologies Inc. (OPEN) does Morgan Stanley report?

Morgan Stanley and Morgan Stanley Investment Management Inc. report beneficial ownership of 50,555,152 Opendoor Technologies Inc. common shares, representing 5.3% of the outstanding class as of December 31, 2025. This makes them a significant institutional shareholder above the 5% reporting threshold.

Is Morgan Stanley’s 5.3% Opendoor (OPEN) position an activist stake?

The filing states the Opendoor securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control. This language characterizes Morgan Stanley’s 5.3% stake as passive rather than an activist or control-oriented position.

How many Opendoor (OPEN) shares does Morgan Stanley have voting power over?

Morgan Stanley reports shared voting power over 48,824,110 Opendoor common shares and no sole voting power. This means voting authority is held jointly, consistent with institutional portfolio management structures, rather than controlled solely by a single Morgan Stanley entity.

What is the event date for Morgan Stanley’s Opendoor (OPEN) ownership disclosure?

The Schedule 13G identifies December 31, 2025 as the date of the event requiring the filing. That date anchors when Morgan Stanley’s beneficial ownership in Opendoor crossed or was measured relative to the 5% reporting threshold for this disclosure.

Which Morgan Stanley entities report ownership of Opendoor (OPEN) shares?

The reporting persons are Morgan Stanley and Morgan Stanley Investment Management Inc., both organized in Delaware. Each provides a separate cover page with detailed share counts and voting and dispositive powers for their respective beneficial ownership in Opendoor common stock.

Does Morgan Stanley claim sole dispositive power over Opendoor (OPEN) shares?

No. The filing reports no sole dispositive power over Opendoor shares. Instead, it shows shared dispositive power over 50,555,092 shares, indicating that decisions to sell or otherwise dispose of these shares are made on a shared basis rather than by a single entity alone.