Employees Retirement System of Texas
PensionFiling Date
Global Rank
#464
/ 8,614
▼ 24
· as of Mar 2026
Top Industry
Semiconductors
12.3%
3Y Alpha vs SPY
-3.9%
Period ended 4 months ago
Filed May 13, 2026 · 2mo
25 quarters · since Mar 2020
Clone Performance
Jul 2023–Jul 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
+57.2%
SPY
+73.9%
Annualised alpha
-4.0%
Max drawdown
−18.5%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
478 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025Top Position
7.1%
−0.2 pts
Top 5
26.5%
−2.1 pts
Top 10
37.4%
−1.9 pts
HHI
229
Diversified−18
Portfolio Trend
25 quarters · across all stocks
Sector Breakdown
As of Mar 31, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Technology | 31.6% | $2,766,965,457 |
| Financial Services | 12.8% | $1,121,484,218 |
| Consumer Cyclical | 9.6% | $840,301,133 |
| Healthcare | 9.1% | $796,156,447 |
| Industrials | 8.8% | $773,573,999 |
| Communication Services | 6.7% | $584,861,316 |
| Energy | 4.8% | $421,648,854 |
| Consumer Defensive | 4.8% | $419,013,994 |
| Basic Materials | 3.4% | $295,695,265 |
| Unclassified | 3.3% | $290,679,437 |
| Real Estate | 2.8% | $247,084,286 |
| Utilities | 2.1% | $187,917,710 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| IAU | Ishares Gold Trust | +3,049,000 | 3,293,500 | $290,354,960 | |
| NOK | Nokia Corp | +641,777 | 828,742 | $6,663,085 | |
| NFLX | Netflix Inc | +534,742 | 1,097,470 | $105,521,740 | |
| ET | Energy Transfer LP | +515,751 | 3,349,808 | $64,651,294 | |
| FAST | Fastenal Co | +473,606 | 1,619,617 | $75,150,228 | |
| V | Visa Inc. | +426,340 | 441,840 | $133,541,721 | |
| PBR | Petrobras - Petroleo Brasileiro SA | +195,327 | 260,836 | $5,412,347 | |
| ALLY | Ally Financial Inc. | +188,800 | 1,855,646 | $72,796,992 | |
| SCHW | Schwab Charles Corp | +186,800 | 1,076,867 | $101,203,960 | |
| ISRG | Intuitive Surgical Inc | +98,291 | 175,132 | $80,734,100 | |
| NOW | ServiceNow, Inc. | +83,374 | 589,131 | $61,593,646 | |
| HD | Home Depot, Inc. | +81,800 | 357,675 | $117,635,730 | |
| ODFL | Old Dominion Freight Line, Inc. | +81,467 | 366,686 | $71,650,444 | |
| AME | Ametek Inc/ | +78,240 | 340,388 | $72,965,571 | |
| PAGS | PagSeguro Digital Ltd. | +69,755 | 135,171 | $1,354,413 | |
| SLB | Slb Limited/Nv | +61,694 | 1,225,301 | $62,968,218 | |
| TMUS | T-Mobile US, Inc. | +56,410 | 356,246 | $74,822,347 | |
| NXPI | NXP Semiconductors N.V. | +43,381 | 288,562 | $56,806,315 | |
| TT | Trane Technologies plc | +38,568 | 153,342 | $63,903,745 | |
| GNTX | Gentex Corp | +37,621 | 40,036 | $874,786 | |
| FTNT | Fortinet, Inc. | +30,174 | 123,467 | $10,089,723 | |
| CDNS | Cadence Design Systems Inc | +27,136 | 314,717 | $87,450,412 | |
| PEP | Pepsico Inc | +23,256 | 33,303 | $5,171,622 | |
| LVS | Las Vegas Sands Corp | +16,147 | 238,097 | $12,828,666 | |
| MCD | Mcdonalds Corp | +14,372 | 21,894 | $6,804,436 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| BBD | Bank Bradesco | −1,218,653 | 89,075 | $325,123 | |
| FMX | Mexican Economic Development Inc | −483,674 | 9,928 | $1,102,603 | |
| ZTS | Zoetis Inc. | −394,000 | 4,709 | $556,650 | |
| KO | Coca Cola Co | −329,273 | 1,300,000 | $98,865,000 | |
| UNH | Unitedhealth Group Inc | −289,620 | 9,940 | $2,689,664 | |
| T | At&T Inc. | −267,512 | 185,622 | $5,381,181 | |
| NEM | NEWMONT Corp /DE/ | −264,496 | 1,115,975 | $120,804,293 | |
| HBM | Hudbay Minerals Inc. | −254,054 | 992 | $20,732 | |
| AAPL | Apple Inc. | −223,719 | 2,044,472 | $518,866,548 | |
| FCX | Freeport-Mcmoran Inc | −199,158 | 1,851,433 | $108,827,231 | |
| MNST | Monster Beverage Corp | −186,000 | 679,049 | $49,203,890 | |
| BAC | Bank Of America Corp /De/ | −165,698 | 2,303,387 | $112,290,116 | |
| VALE | Vale S.A. | −158,455 | 12,536 | $199,447 | |
| CX | Cemex Sab De CV | −129,419 | 323,673 | $3,702,819 | |
| VZ | Verizon Communications Inc | −128,456 | 5,233 | $262,696 | |
| NVDA | Nvidia Corp | −125,179 | 3,537,789 | $616,990,401 | |
| MA | Mastercard Inc | −121,557 | 260,521 | $130,171,922 | |
| MRK | Merck & Co., Inc. | −88,750 | 27,704 | $3,332,514 | |
| FITB | Fifth Third Bancorp | −87,500 | 1,627,200 | $75,599,712 | |
| TJX | Tjx Companies Inc /De/ | −83,758 | 494,971 | $79,046,868 | |
| AMZN | Amazon Com Inc | −83,502 | 1,852,307 | $385,779,978 | |
| MDT | Medtronic plc | −82,022 | 780,675 | $67,645,488 | |
| MO | Altria Group, Inc. | −78,525 | 66,501 | $4,388,400 | |
| BMY | Bristol Myers Squibb Co | −76,612 | 167,645 | $10,167,669 | |
| VRT | Vertiv Holdings Co | −75,741 | 198,138 | $49,649,420 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
25 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| ABBV | AbbVie Inc. | 455,800 | $99,131,942 | |
| CCL | Carnival Corp Ltd. | 2,299,900 | $59,521,412 | |
| CAT | Caterpillar Inc | 61,448 | $43,533,450 | |
| WDC | Western Digital Corp | 155,548 | $42,074,178 | |
| CVX | Chevron Corp | 53,618 | $11,093,564 | |
| RIO | Rio Tinto PLC | 78,262 | $7,301,061 | |
| CNQ | CANADIAN NATURAL RESOURCES Ltd | 112,195 | $5,467,262 | |
| PR | Permian Resources Corp | 208,846 | $4,452,596 | |
| EOG | Eog Resources Inc | 18,900 | $2,732,373 | |
| TRMB | Trimble Inc. | 39,537 | $2,578,998 | |
| AFG | American Financial Group Inc | 18,381 | $2,347,437 | |
| PNC | Pnc Financial Services Group, Inc. | 10,789 | $2,245,083 | |
| E | Eni Spa | 31,258 | $1,769,515 | |
| CNA | Cna Financial Corp | 28,371 | $1,302,796 | |
| ROP | Roper Technologies Inc | 3,556 | $1,258,326 | |
| TXT | Textron Inc | 12,476 | $1,092,398 | |
| RSG | Republic Services, Inc. | 4,791 | $1,049,324 | |
| IMAX | Imax Corp | 25,700 | $976,857 | |
| EFX | Equifax Inc | 5,410 | $974,178 | |
| AXON | Axon Enterprise, Inc. | 2,139 | $908,411 | |
| RBC | RBC Bearings INC | 1,660 | $901,579 | |
| KRP | Kimbell Royalty Partners, LP | 61,915 | $895,910 | |
| ROST | Ross Stores, Inc. | 4,064 | $880,384 | |
| GD | General Dynamics Corp | 2,465 | $846,037 | |
| COP | Conocophillips | 6,068 | $800,976 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
25 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| MELI | Mercadolibre Inc | 40,184 | $80,941,023 | |
| UBER | Uber Technologies, Inc | 794,550 | $64,922,680 | |
| LPLA | LPL Financial Holdings Inc. | 176,200 | $62,933,354 | |
| FLUT | Flutter Entertainment plc | 257,400 | $55,351,296 | |
| GEHC | GE HealthCare Technologies Inc. | 535,700 | $43,938,114 | |
| FET | Forum Energy Technologies, Inc. | 441,787 | $16,324,029 | |
| AEP | American Electric Power Co Inc | 50,566 | $5,830,765 | |
| ADP | Automatic Data Processing Inc | 22,200 | $5,710,506 | |
| EG | Everest Group, Ltd. | 15,547 | $5,275,874 | |
| JNJ | Johnson & Johnson | 23,345 | $4,831,247 | |
| AIG | American International Group, Inc. | 52,305 | $4,474,692 | |
| IBN | Icici Bank Ltd | 139,859 | $4,167,798 | |
| DUK | Duke Energy CORP | 35,256 | $4,132,355 | |
| HDB | Hdfc Bank Ltd | 109,672 | $4,007,414 | |
| XEL | Xcel Energy Inc | 45,867 | $3,387,736 | |
| CHKP | Check Point Software Technologies Ltd | 17,883 | $3,318,369 | |
| WTW | Willis Towers Watson PLC | 9,505 | $3,123,343 | |
| EXC | Exelon Corp | 65,029 | $2,834,614 | |
| AWK | American Water Works Company, Inc. | 20,549 | $2,681,644 | |
| KR | Kroger Co | 42,442 | $2,651,776 | |
| ITUB | Itau Unibanco Holding S.A. | 370,217 | $2,650,753 | |
| BTI | British American Tobacco p.l.c. | 46,386 | $2,626,375 | |
| NEE | Nextera Energy Inc | 31,510 | $2,529,622 | |
| CPNG | Coupang, Inc. | 105,011 | $2,477,209 | |
| BRK-B | Berkshire Hathaway Inc | 4,779 | $2,402,164 | |
| No positions match the current search. | ||||
478 positions ·
$8,745,382,116 total
· as of Mar 31, 2026
All sectors
Basic Materials
Communication Services
Consumer Cyclical
Consumer Defensive
Energy
Financial Services
Healthcare
Industrials
Real Estate
Technology
Utilities
Showing 1–50
of 478 positions by value
· page 1 of 10
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| NVDA |
Nvidia Corp
Technology
|
Reduced | 3,537,789 | $616,990,401 | 7.06% | |
| AAPL |
Apple Inc.
Technology
|
Reduced | 2,044,472 | $518,866,548 | 5.93% | |
| MSFT |
Microsoft Corp
Technology
|
Reduced | 1,375,556 | $509,189,564 | 5.82% | |
| AMZN |
Amazon Com Inc
Consumer Cyclical
|
Reduced | 1,852,307 | $385,779,978 | 4.41% | |
| IAU |
Ishares Gold Trust
|
Added | 3,293,500 | $290,354,960 | 3.32% | |
| AVGO |
Broadcom Inc.
Technology
|
Added | 846,858 | $262,111,019 | 3.00% | |
| XOM |
ExxonMobil Holdings Corp
Energy
|
Reduced | 1,173,657 | $199,122,646 | 2.28% | |
| META |
Meta Platforms, Inc.
Communication Services
|
Reduced | 318,392 | $182,161,614 | 2.08% | |
| LLY |
ELI LILLY & Co
Healthcare
|
Reduced | 172,900 | $159,028,233 | 1.82% | |
| JPM |
Jpmorgan Chase & Co
Financial Services
|
Reduced | 513,400 | $151,021,744 | 1.73% | |
| GOOGL |
Alphabet Inc.
Communication Services
|
Reduced | 486,408 | $139,871,484 | 1.60% | |
| V |
Visa Inc.
Financial Services
|
Added | 441,840 | $133,541,721 | 1.53% | |
| WMT |
Walmart Inc.
Consumer Defensive
|
Reduced | 1,066,400 | $132,532,192 | 1.52% | |
| TSLA |
Tesla, Inc.
Consumer Cyclical
|
Reduced | 351,756 | $130,765,293 | 1.50% | |
| MA |
Mastercard Inc
Financial Services
|
Reduced | 260,521 | $130,171,922 | 1.49% | |
| NEM |
NEWMONT Corp /DE/
Basic Materials
|
Reduced | 1,115,975 | $120,804,293 | 1.38% | |
| HD |
Home Depot, Inc.
Consumer Cyclical
|
Added | 357,675 | $117,635,730 | 1.35% | |
| COST |
Costco Wholesale Corp /New
Consumer Defensive
|
Reduced | 116,761 | $116,344,163 | 1.33% | |
| PH |
Parker-Hannifin Corp
Industrials
|
Reduced | 126,436 | $113,190,564 | 1.29% | |
| BAC |
Bank Of America Corp /De/
Financial Services
|
Reduced | 2,303,387 | $112,290,116 | 1.28% | |
| FCX |
Freeport-Mcmoran Inc
Basic Materials
|
Reduced | 1,851,433 | $108,827,231 | 1.24% | |
| NFLX |
Netflix Inc
Communication Services
|
Added | 1,097,470 | $105,521,740 | 1.21% | |
| SCHW |
Schwab Charles Corp
Financial Services
|
Added | 1,076,867 | $101,203,960 | 1.16% | |
| PANW |
Palo Alto Networks Inc
Technology
|
Reduced | 628,126 | $100,701,160 | 1.15% | |
| ABBV |
AbbVie Inc.
Healthcare
|
NEW | 455,800 | $99,131,942 | 1.13% | |
| KO |
Coca Cola Co
Consumer Defensive
|
Reduced | 1,300,000 | $98,865,000 | 1.13% | |
| MSI |
Motorola Solutions, Inc.
Technology
|
Reduced | 218,847 | $94,973,032 | 1.09% | |
| CDNS |
Cadence Design Systems Inc
Technology
|
Added | 314,717 | $87,450,412 | 1.00% | |
| ISRG |
Intuitive Surgical Inc
Healthcare
|
Added | 175,132 | $80,734,100 | 0.92% | |
| TMO |
Thermo Fisher Scientific Inc.
Healthcare
|
Reduced | 163,733 | $80,479,681 | 0.92% | |
| TJX |
Tjx Companies Inc /De/
Consumer Cyclical
|
Reduced | 494,971 | $79,046,868 | 0.90% | |
| ANET |
Arista Networks, Inc.
Technology
|
Reduced | 635,191 | $77,988,750 | 0.89% | |
| FITB |
Fifth Third Bancorp
Financial Services
|
Reduced | 1,627,200 | $75,599,712 | 0.86% | |
| AMD |
Advanced Micro Devices Inc
Technology
|
Reduced | 371,175 | $75,508,130 | 0.86% | |
| ETR |
Entergy Corp /De/
Utilities
|
Reduced | 671,175 | $75,413,223 | 0.86% | |
| MS |
Morgan Stanley
Financial Services
|
Reduced | 457,900 | $75,356,603 | 0.86% | |
| FAST |
Fastenal Co
Industrials
|
Added | 1,619,617 | $75,150,228 | 0.86% | |
| DHR |
Danaher Corp /De/
Healthcare
|
Reduced | 395,138 | $74,918,164 | 0.86% | |
| TMUS |
T-Mobile US, Inc.
Communication Services
|
Added | 356,246 | $74,822,347 | 0.86% | |
| EQIX |
Equinix Inc
Real Estate
|
Reduced | 74,539 | $73,066,109 | 0.84% | |
| AME |
Ametek Inc/
Industrials
|
Added | 340,388 | $72,965,571 | 0.83% | |
| ALLY |
Ally Financial Inc.
Financial Services
|
Added | 1,855,646 | $72,796,992 | 0.83% | |
| WEC |
Wec Energy Group, Inc.
Utilities
|
Reduced | 625,933 | $72,464,263 | 0.83% | |
| ICE |
Intercontinental Exchange, Inc.
Financial Services
|
Reduced | 458,403 | $72,097,623 | 0.82% | |
| ODFL |
Old Dominion Freight Line, Inc.
Industrials
|
Added | 366,686 | $71,650,444 | 0.82% | |
| VTR |
Ventas, Inc.
Real Estate
|
Reduced | 832,038 | $68,044,067 | 0.78% | |
| MDT |
Medtronic plc
Healthcare
|
Reduced | 780,675 | $67,645,488 | 0.77% | |
| ET |
Energy Transfer LP
Energy
|
Added | 3,349,808 | $64,651,294 | 0.74% | |
| SYK |
Stryker Corp
Healthcare
|
Reduced | 195,902 | $64,371,438 | 0.74% | |
| TT |
Trane Technologies plc
Industrials
|
Added | 153,342 | $63,903,745 | 0.73% |