VIRGINIA RETIREMENT SYSTEMS ET Al

Pension

CIK

1005354

Location

RICHMOND, VA

Portfolio Value

Large $16,442,115,132

Diversification

Diversified

Filing Date

Global Rank

#319 / 8,739 ▲ 16 · as of Dec 2025

Top Industry

Semiconductors 9.2%

3Y Alpha vs SPY

+33.7%

Period ended 8 months ago

Filed Feb 4, 2026 · 6mo

18 quarters · since Mar 2020

Clone Performance

Aug 2023–Jul 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+254.6%

SPY

+71.0%

Annualised alpha

+34.2%

Max drawdown

−24.0%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. Returns use comparable raw closes and exclude dividends; a captured split can shorten the simulated window. It tracks 100% of reported value on average across 6 quarters.VIRGINIA RETIREMENT SYSTEMS ET Al has stopped filing, so the simulation ends in Jul 2026 — where its last reported portfolio went stale — rather than trading that portfolio forward to today. Past performance does not predict future results.

Portfolio Concentration

939 tracked positions · as of Dec 31, 2025 · Δ vs Sep 30, 2025

Top Position

6.4%

−0.0 pts

Top 5

26.4%

+2.2 pts

Top 10

34.4%

+2.8 pts

HHI

181

Diversified+15

Portfolio Trend

18 quarters · across all stocks

Sector Breakdown

As of Dec 31, 2025

Sector	% Portfolio	Value	Positions
Technology	30.8%	$5,069,627,957	161
Consumer Cyclical	11.4%	$1,875,403,501	114
Healthcare	11.3%	$1,857,838,584	151
Communication Services	11.2%	$1,844,396,367	35
Financial Services	11.0%	$1,813,737,125	122
Industrials	7.8%	$1,274,311,700	149
Consumer Defensive	6.3%	$1,030,305,872	40
Real Estate	6.0%	$988,963,560	80
Utilities	1.9%	$306,735,009	25
Energy	1.5%	$240,871,189	30
Basic Materials	0.9%	$139,924,268	30
Unclassified	0.0%	$0	2

Last Quarter's Activity

Export CSV

Dec 31, 2025 vs Sep 30, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
AMZN	Amazon Com Inc	+959,300	2,782,900	$642,348,978
WMT	Walmart Inc.	+929,400	1,306,726	$145,582,343
NFLX	Netflix Inc	+710,967	802,380	$75,231,148
CCL	Carnival Corp Ltd.	+630,200	1,385,600	$42,316,224
DVN	Devon Energy Corp/De	+538,300	635,800	$23,289,354
GOOGL	Alphabet Inc.	+495,400	2,728,172	$854,755,516
AAPL	Apple Inc.	+442,100	3,880,040	$1,054,827,674
DUK	Duke Energy CORP	+420,005	513,905	$60,234,805
FE	Firstenergy Corp	+400,800	522,600	$23,396,802
ZM	Zoom Communications, Inc.	+387,824	751,624	$64,857,634
KIM	Kimco Realty Corp	+358,300	1,499,653	$30,397,966
LVS	Las Vegas Sands Corp	+337,900	349,200	$22,729,428
XHR	Xenia Hotels & Resorts, Inc.	+276,450	310,850	$4,395,419
CSCO	Cisco Systems, Inc.	+271,600	372,111	$28,663,710
BAC	Bank Of America Corp /De/	+254,200	754,469	$41,495,795
BKD	Brookdale Senior Living Inc.	+237,150	249,785	$2,695,180
AVGO	Broadcom Inc.	+236,600	966,310	$334,439,891
OGN	Organon & Co.	+232,600	254,500	$1,824,765
DT	Dynatrace, Inc.	+232,100	847,400	$36,726,316
IBM	International Business Machines Corp	+211,040	260,740	$77,233,795
DOC	Healthpeak Properties, Inc.	+204,100	320,040	$5,146,243
AEP	American Electric Power Co Inc	+187,100	253,800	$29,265,678
KRG	Kite Realty Group Trust	+182,350	365,777	$8,767,674
NTST	NETSTREIT Corp.	+180,600	342,800	$6,046,992
PFG	Principal Financial Group Inc	+174,100	397,100	$35,028,191
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
F	Ford Motor Co	−1,482,200	1,515,700	$19,885,984
VICI	Vici Properties Inc.	−1,312,117	2,154,640	$60,588,476
ACI	Albertsons Companies, Inc.	−1,031,200	2,887,200	$49,573,224
DBX	Dropbox, Inc.	−642,450	1,351,550	$37,573,090
C	Citigroup Inc	−418,400	677,960	$79,111,152
SYF	Synchrony Financial	−387,400	577,970	$48,220,037
AKAM	Akamai Technologies Inc	−373,264	509,800	$44,480,050
UDR	UDR, Inc.	−330,900	14,210	$521,222
NVDA	Nvidia Corp	−282,000	5,030,390	$938,167,735
SBRA	Sabra Health Care REIT, Inc.	−267,650	310,150	$5,874,241
CRBG	Corebridge Financial, Inc.	−263,600	441,900	$13,332,123
TAP-A	Molson Coors Beverage Co	−261,926	340,800	$15,847,200
AFL	Aflac Inc	−248,878	302,100	$33,312,567
EW	Edwards Lifesciences Corp	−247,600	675,711	$57,604,362
MS	Morgan Stanley	−222,400	432,000	$76,692,960
KR	Kroger Co	−217,100	1,397,900	$87,340,792
FAST	Fastenal Co	−207,800	683,484	$27,428,212
DIS	Walt Disney Co	−184,800	173,200	$19,704,964
MLI	Mueller Industries Inc	−175,500	514,755	$59,093,874
ALIT	Alight, Inc. / Delaware	−174,700	285,500	$556,725
EBAY	Ebay Inc	−171,300	908,608	$79,139,756
MAC	Macerich Co	−162,450	561,783	$10,370,514
ABNB	Airbnb, Inc.	−157,300	163,199	$22,149,368
MRK	Merck & Co., Inc.	−151,000	1,356,338	$142,768,137
VRSN	Verisign Inc/Ca	−146,260	300,931	$73,111,186
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
TMO	Thermo Fisher Scientific Inc.	25,440	$14,741,208
PCG	PG&E Corp	800,700	$12,867,249
SPOT	Spotify Technology S.A.	8,560	$4,970,877
TRNO	Terreno Realty Corp	67,500	$3,962,925
IIPR	Innovative Industrial Properties Inc	72,550	$3,435,968
AOS	Smith A O Corp	47,240	$3,159,411
RRR	Red Rock Resorts, Inc.	43,700	$2,707,215
HHH	Howard Hughes Holdings Inc.	30,810	$2,457,713
JEF	Jefferies Financial Group Inc.	37,750	$2,339,367
PBI	Pitney Bowes Inc /De/	198,720	$2,100,470
CNM	Core & Main, Inc.	39,250	$2,039,822
HL	Hecla Mining Co/De/	105,850	$2,031,261
FNB	Fnb Corp/Pa/	118,600	$2,028,060
CDE	Coeur Mining, Inc.	108,650	$1,937,229
BYD	Boyd Gaming Corp	22,550	$1,922,162
LLYVA	Liberty Live Holdings, Inc.	23,004	$1,884,792
LBTYA	Liberty Global Ltd.	162,550	$1,794,552
OTIS	Otis Worldwide Corp	19,600	$1,712,060
DY	Dycom Industries Inc	5,010	$1,692,879
FDS	Factset Research Systems Inc	5,520	$1,601,848
TDS	Telephone & Data Systems Inc /De/	37,400	$1,533,400
FND	Floor & Decor Holdings, Inc.	24,800	$1,510,072
CE	Celanese Corp	35,043	$1,481,618
ALB	Albemarle Corp	10,200	$1,442,688
KBH	Kb Home	22,900	$1,291,789
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
CTAS	Cintas Corp	147,064	$30,186,356
UTHR	UNITED THERAPEUTICS Corp	56,100	$23,517,681
FFIV	F5, Inc.	45,800	$14,802,102
ELV	Elevance Health, Inc.	40,400	$13,054,048
WBD	Warner Bros. Discovery, Inc.	640,500	$12,508,965
BMRN	Biomarin Pharmaceutical Inc	224,700	$12,169,752
BSX	Boston Scientific Corp	113,600	$11,090,768
CMCSA	Comcast Corp	334,496	$10,509,847
PFE	Pfizer Inc	410,100	$10,449,348
MELI	Mercadolibre Inc	3,600	$8,412,983
CVNA	Carvana Co.	18,200	$6,865,768
HPQ	Hp Inc	154,400	$4,204,312
LIN	Linde PLC	8,800	$4,180,000
CRDO	Credo Technology Group Holding Ltd	28,400	$4,135,324
CIEN	Ciena Corp	28,135	$4,098,425
CHTR	Charter Communications, Inc. /Mo/	13,500	$3,713,985
FCPT	Four Corners Property Trust, Inc.	146,669	$3,578,723
ALAB	Astera Labs, Inc.	17,900	$3,504,820
INSM	INSMED Inc	21,265	$3,062,372
VIRT	Virtu Financial, Inc.	65,338	$2,319,499
FLEX	Flex Ltd.	38,563	$2,235,497
ECHO	EchoStar CORP	27,270	$2,082,337
BE	Bloom Energy Corp	22,900	$1,936,653
SE	Sea Ltd	9,900	$1,769,427
AVAV	AeroVironment Inc	5,300	$1,668,917
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

939 tracked positions · $16,442,115,132 total · filing declares 949 positions · $16,807,714,748 · as of Dec 31, 2025

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 939 positions by value · page 1 of 19

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
AAPL	Apple Inc. Technology	Added	3,880,040	+442,100	$1,054,827,674	+20.5%	6.42%
NVDA	Nvidia Corp Technology	Reduced	5,030,390	-282,000	$938,167,735	−5.3%	5.71%
GOOGL	Alphabet Inc. Communication Services	Added	2,728,172	+495,400	$854,755,516	+57.3%	5.20%
MSFT	Microsoft Corp Technology	Added	1,747,280	+36,980	$845,019,553	−4.6%	5.14%
AMZN	Amazon Com Inc Consumer Cyclical	Added	2,782,900	+959,300	$642,348,978	+60.4%	3.91%
META	Meta Platforms, Inc. Communication Services	Added	658,974	+93,178	$434,982,147	+4.7%	2.65%
AVGO	Broadcom Inc. Technology	Added	966,310	+236,600	$334,439,891	+38.9%	2.03%
JNJ	Johnson & Johnson Healthcare	Held	1,158,903	0	$239,834,975	+11.6%	1.46%
TSLA	Tesla, Inc. Consumer Cyclical	Added	351,931	+17,000	$158,270,409	+6.3%	0.96%
WMT	Walmart Inc. Consumer Defensive	Added	1,306,726	+929,400	$145,582,343	+274.4%	0.89%
MRK	Merck & Co., Inc. Healthcare	Reduced	1,356,338	-151,000	$142,768,137	+12.9%	0.87%
GILD	Gilead Sciences, Inc. Healthcare	Reduced	1,156,695	-124,700	$141,972,744	−0.2%	0.86%
JPM	Jpmorgan Chase & Co Financial Services	Added	434,698	+21,160	$140,068,389	+7.4%	0.85%
V	Visa Inc. Financial Services	Added	391,641	+51,520	$137,352,415	+18.3%	0.84%
HCA	HCA Healthcare, Inc. Healthcare	Reduced	288,820	-8,480	$134,838,505	+6.4%	0.82%
BMY	Bristol Myers Squibb Co Healthcare	Held	2,234,496	0	$120,528,714	+19.6%	0.73%
DG	Dollar General Corp Consumer Defensive	Reduced	905,400	-1,300	$120,209,958	+28.3%	0.73%
VZ	Verizon Communications Inc Communication Services	Added	2,887,805	+125,100	$117,620,297	−3.1%	0.72%
MO	Altria Group, Inc. Consumer Defensive	Reduced	1,992,500	-126,200	$114,887,550	−17.9%	0.70%
YUM	Yum Brands Inc Consumer Cyclical	Added	752,000	+143,300	$113,762,560	+23.0%	0.69%
MU	Micron Technology Inc Technology	Added	398,586	+161,386	$113,760,430	+186.6%	0.69%
ABT	Abbott Laboratories Healthcare	Added	903,768	+77,500	$113,233,092	+2.3%	0.69%
T	At&T Inc. Communication Services	Held	4,494,203	0	$111,636,002	−12.0%	0.68%
UHS	Universal Health Services Inc Healthcare	Added	473,822	+71,200	$103,302,672	+25.5%	0.63%
LLY	ELI LILLY & Co Healthcare	Added	95,204	+16,640	$102,313,844	+70.7%	0.62%
GS	Goldman Sachs Group Inc Financial Services	Reduced	115,836	-16,240	$101,819,844	−3.2%	0.62%
CL	Colgate Palmolive Co Consumer Defensive	Reduced	1,268,600	-64,100	$100,244,772	−5.9%	0.61%
LRCX	Lam Research Corp Technology	Reduced	581,805	-16,370	$99,593,379	+24.3%	0.61%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	195,887	-15,920	$98,462,600	−7.5%	0.60%
PCAR	Paccar Inc Industrials	Reduced	813,750	-138,400	$89,113,762	−4.8%	0.54%
KR	Kroger Co Consumer Defensive	Reduced	1,397,900	-217,100	$87,340,792	−19.8%	0.53%
TXT	Textron Inc Industrials	Held	937,700	0	$81,739,309	+3.2%	0.50%
CBOE	Cboe Global Markets, Inc. Financial Services	Held	322,990	0	$81,070,490	+2.3%	0.49%
CTSH	Cognizant Technology Solutions Corp Technology	Added	961,375	+148,275	$79,794,125	+46.3%	0.49%
GE	General Electric Co Industrials	Reduced	258,380	-15,520	$79,588,791	−3.4%	0.48%
FOXA	Fox Corp Communication Services	Added	1,086,300	+114,800	$79,375,941	+29.6%	0.48%
EBAY	Ebay Inc Consumer Cyclical	Reduced	908,608	-171,300	$79,139,756	−19.4%	0.48%
C	Citigroup Inc Financial Services	Reduced	677,960	-418,400	$79,111,152	−28.9%	0.48%
SPG	Simon Property Group Inc. Real Estate	Reduced	424,830	-9,800	$78,640,281	−3.6%	0.48%
IBM	International Business Machines Corp Technology	Added	260,740	+211,040	$77,233,795	+450.8%	0.47%
MS	Morgan Stanley Financial Services	Reduced	432,000	-222,400	$76,692,960	−26.3%	0.47%
INCY	Incyte Corp Healthcare	Held	768,325	0	$75,887,460	+16.5%	0.46%
NFLX	Netflix Inc Communication Services	Added	802,380	+710,967	$75,231,148	−31.4%	0.46%
BKNG	Booking Holdings Inc. Consumer Cyclical	Added	13,961	+710	$74,765,762	+4.5%	0.45%
ABBV	AbbVie Inc. Healthcare	Added	325,111	+32,000	$74,284,612	+9.5%	0.45%
VRSN	Verisign Inc/Ca Technology	Reduced	300,931	-146,260	$73,111,186	−41.5%	0.44%
SNA	Snap-on Inc Industrials	Added	211,732	+29,860	$72,962,847	+15.8%	0.44%
WELL	Welltower Inc. Real Estate	Added	389,160	+54,000	$72,231,987	+21.0%	0.44%
PSA	Public Storage Real Estate	Reduced	272,171	-49,200	$70,628,374	−23.9%	0.43%
QCOM	Qualcomm Inc/De Technology	Reduced	412,429	-8,200	$70,545,980	+0.8%	0.43%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.