Ciena Corporation

The full register, from 13F filings

The Register tab above is hand research: a dozen holders, each traced to the filing it came from. This asks the same question of the whole market for the quarter ended 31-mar-2026, where 1,067 managers reported a position. Broad where the research is deep, and shallow in the ways a 13F always is.

Built from 13F filings, which report US listed, long, US custodied positions only. A register from this source is a floor rather than a level: a holder's true position can be far larger, as BlackRock's ASML stake shows at 1.28m shares in a 13F against 26.3m in its 13G/A. Holdings held through derivatives, outside US custody, or below a manager's reporting obligation do not appear. Where a holder is marked as a family, its total sums several separate filing entities and describes something no single filing describes; the constituent entities and their share counts are listed so the total can be checked. That roll-up can legitimately exceed the family's own Schedule 13G, because a 13G is filed by one legal entity: Vanguard reports Alphabet through ten advisory entities, and The Vanguard Group Inc itself reported zero after its January 2026 disaggregation.

What a reader needs to know to read these numbers

• Fiscal year and filings used. Ciena's fiscal year ends in late October or early November. The latest 10-K on file is for fiscal year 2025, period ended 1 Nov 2025, filed 12 Dec 2025 (accession 0001628280-25-056698); the next 10-K, for fiscal year 2026 (ending around early Nov 2026), is not yet filed as of this research date (18 Aug 2026). The latest 10-Q is for the second quarter of fiscal year 2026, period ended 2 May 2026, filed 4 Jun 2026 (accession 0001628280-26-040767), which is MORE CURRENT than the FY2025 10-K and supplies the shares-outstanding denominator used throughout this file (141,552,922 as of 29 May 2026, cover page). All balance-sheet notes (minority equity investments, debt, treasury securities) are taken from the FY2025 10-K since the condensed 10-Q notes do not repeat them. The proxy used is the DEF 14A filed 12 Feb 2026 for the annual meeting held 26 Mar 2026, record date 27 Jan 2026, the most recent proxy on file.
• Treasury securities explicitly excluded from holdings. Ciena's FY2025 10-K balance sheet (as of 1 Nov 2025) shows $216.148 million of short-term investments and $57.142 million of long-term investments, both in marketable debt securities (time deposits and similar instruments), managed as corporate treasury under Ciena's investment policy. These are excluded from holdings per the brief's rule that marketable securities and short-term investments held as corporate treasury are not holdings, on the same basis Teradyne's file excluded a $162.3 million portfolio and Keysight's excluded a deferred-compensation portfolio.
• Holdings side searched and found essentially empty. The FY2025 10-K and the Q2 FY2026 10-Q were both searched for 'equity method', 'unconsolidated', 'joint venture', 'non-marketable', 'noncontrolling interest', 'minority interest', 'strategic investment', 'cost method' and 'privately held'. Zero hits for equity method, unconsolidated, joint venture and noncontrolling interest in either filing. The only substantive result is a 'Minority Equity Investments' accounting-policy note in the FY2025 10-K: 'Ciena has minority equity investments in privately held technology companies that are classified in other long-term assets. These investments are carried at cost because Ciena owns less than 20% of the voting equity and does not have the ability to exercise significant influence over the company... As of November 1, 2025, the combined carrying value of these investments was $21.7 million.' No individual investee is named and no per-investee split is disclosed anywhere in the sections searched. Per the brief's rule that a combined balance covering several unnamed investees sizes none of them, this is recorded as a documented finding here rather than as any holdings row: the holdings array is empty, and the $21.7 million combined figure is not attributed to any single company.
• Tibit was a former minority equity investment, now a wholly owned subsidiary, not a current holding. The FY2025 10-K's acquisitions note (covering fiscal 2023 transactions) describes Ciena's 30 Dec 2022 acquisition of Tibit, a passive-optical-network hardware maker, for which $47.0 million of the purchase price represented the fair value of Ciena's previously held cost-method equity investment in Tibit, remeasured to fair value on acquisition for a $26.5 million gain. This investment ceased to exist as a minority stake in the first quarter of fiscal 2023 when Tibit became wholly owned, so it is not a current holdings-side position.
• No convertible notes currently outstanding; none in the share-count denominator. Ciena's only current debt disclosed in the FY2025 10-K is $400.0 million of 4.00% Senior Notes due January 2030 (non-convertible, issued January 2022) plus a term loan and an undrawn revolving credit facility. The sole mention of 'convertible notes' in the FY2025 10-K is generic risk-factor language about historical capital-raising methods ('we have accessed the capital markets in the past... including through the issuance of equity, convertible notes and other indebtedness'), and the Q2 FY2026 10-Q contains zero hits for 'convertible notes' or 'convertible senior' at all. No convertible instrument is outstanding to create dilution risk, so none was added to or netted from the share count; shares_outstanding is taken directly from the 10-Q cover page.
• No stock split found. Both the FY2025 10-K and the Q2 FY2026 10-Q were searched for 'stock split' with zero hits. Shares outstanding rose only modestly between the proxy record date (27 Jan 2026, 141,463,456 shares) and the 10-Q cover page (29 May 2026, 141,552,922 shares), consistent with ordinary equity issuance and buybacks, not a split.
• Strategic or commercial counterparty holder: none found. The DEF 14A's 5%-holder table lists only four names: FMR LLC, The Vanguard Group, BlackRock and JPMorgan Chase & Co., all conventional institutional asset managers, none of them a commercial or industrial counterparty to Ciena's optical-networking business. Ciena's complete EDGAR filing history under CIK 0000936395 was checked directly: it contains numerous Schedule 13G and 13G/A filings going back to 2019 but zero Schedule 13D filings of any kind, meaning no activist or control-seeking strategic holder has ever filed on this stock. This project's own Q1 2026 13F register snapshot (data/registers/CIEN.json) lists 39 institutional holders; none is a networking, optical-component or semiconductor company (no Nokia, Corning, Marvell, Cisco, Adtran or similar named entity appears), only asset managers and banks. Concluded: no corporate or commercial strategic holder currently discloses a stake in Ciena.
• T. Rowe Price files in thousands on both CIKs, confirmed. Both T. Rowe Price Associates, Inc. (CIK 0000080255) and the separate registrant T. Rowe Price Investment Management, Inc. (CIK 0001897612) report their Q2 2026 13F info-table dollar values in thousands; both were rescaled by 1000 before use, cross-checked against the roughly $490/share price implied by BlackRock's and FMR's same-period, same-CUSIP filings.
• Vanguard: parent CIK 0000102909 filed Form 13F-NT (no holdings) for the quarter ended 30 Jun 2026. Eight successor entities were individually checked; seven hold a Ciena position and one (Vanguard National Trust Co, CIK 0001984256) holds none this quarter. The seven holding entities were summed to a family total of 18,402,982 shares, $9,027,766,850, per the brief's rule that when the parent files a 13F-NT, the successors' sum is the family total; is_aggregate is not set on this roll-up because it is a registrant-family sum, not a proxy aggregate.
• Self-gate, computed exactly as the register chart computes it (data/research/ciena.json, final file): 9 rows summing to 79,064,193 shares against 141,552,922 shares outstanding, or 55.85 percent. This is at the high end of, and slightly above, the 25 to 45 percent band the brief describes as typical, driven by the concentration of Ciena's float in four large holders (FMR 13.50%, Vanguard family 13.00%, BlackRock 8.99%, JPMorgan 7.92%, summing to 43.40% alone). Every 13F-derived row here implies a consistent price of roughly $479 to $491 per share across nine independently filed sources, which is the cross-check available on this data (no single filer's figure is an outlier that would suggest a units or basis error), so the total is reported as found rather than adjusted down.
• Market capitalisation of approximately $57.4 billion is computed as 141,552,922 shares outstanding (29 May 2026 10-Q cover) multiplied by the $405.54 closing price quoted by Yahoo Finance as of 18 Aug 2026, the date of this research.
• Driver of the out-of-band register total, added by the coordinator so the figure is checkable rather than merely asserted. The 55.85 per cent sits above this project's usual 25 to 45 per cent band and above its 55 per cent flag line, and the cause is concentration in four holders rather than any basis or double-counting defect: FMR LLC 19,113,538 shares (13.50 per cent), The Vanguard Group 18,402,982 (13.00 per cent), BlackRock 12,718,494 (8.98 per cent) and JPMorgan Chase 11,206,209 (7.92 per cent), which is 61,441,223 shares or 43.41 per cent of the company between them. The remaining five rows total only 12.45 per cent. FMR at 13.50 per cent is the unusual element: it is larger than Vanguard here, which is the reverse of the normal pattern in this database, where Vanguard sits around 13 per cent and no active manager approaches it. That was checked rather than assumed: every register row is a fresh Q2 2026 13F-HR read directly from its own information table, and all nine imply a consistent share price of roughly 479 to 491 dollars for the 30 Jun 2026 quarter end, so no row is on a mixed basis and none is in thousands.