Employees Retirement System of Texas

CIK

1398739

Location

AUSTIN, TX

Portfolio Value

Large $10,695,246,466

Diversification

Diversified

Filing Date

Global Rank

#514 / 8,827 ▼ 17

Top Industry

Semiconductors 14.3%

Period ended 4 months ago

Filed Aug 14, 2026 · 3mo

26 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Unknown

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Diversified active

Top 10 weight 35.9%, 47.5 effective positions, active share 41.0% against the S&P 500 as of 2026-06-30; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Medium turnover

45.2% over the last four quarters (30% to under 100%)

Horizon

Long horizon

Value-weighted holding period 16.0 quarters (12+), a floor since 37.5% of the book was already held when coverage starts

Closest benchmark: the S&P 500 as of 2026-06-30, active share 41.0%; sector active share 9.6% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

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Portfolio Concentration

510 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

6.1%

−0.4 pts

Top 5

25.7%

+0.2 pts

Top 10

35.9%

−1.1 pts

HHI

210

Diversified−5

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Technology	34.2%	$3,654,545,022	101
Financial Services	12.0%	$1,281,924,903	81
Consumer Cyclical	9.3%	$992,558,591	54
Healthcare	9.0%	$966,879,999	69
Industrials	8.8%	$936,398,438	70
Communication Services	8.0%	$853,868,589	18
Unclassified	5.0%	$533,555,847	10
Consumer Defensive	4.4%	$472,958,576	20
Energy	2.8%	$295,238,123	18
Basic Materials	2.4%	$257,829,545	26
Real Estate	2.4%	$254,824,907	31
Utilities	1.8%	$194,663,926	12

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
PM	Philip Morris International Inc.	+521,855	566,479	$102,481,715
CMCSA	Comcast Corp	+396,697	435,880	$10,700,854
FAST	Fastenal Co	+261,137	1,880,754	$90,332,614
UNH	Unitedhealth Group Inc	+243,379	253,319	$105,286,975
GOOG	Alphabet Inc.	+197,078	1,076,258	$380,274,239
PBR	Petrobras - Petroleo Brasileiro SA	+163,159	423,995	$6,851,759
PCG	PG&E Corp	+152,290	193,990	$3,262,911
BBD	Bank Bradesco	+144,744	233,819	$811,351
BAC	Bank Of America Corp	+141,702	2,445,089	$139,321,171
SLB	Slb Limited	+135,269	1,360,570	$63,252,899
AMH	American Homes 4 Rent	+107,164	114,552	$3,839,783
WDC	Western Digital Corp	+106,141	261,689	$167,145,998
MU	Micron Technology Inc	+94,869	115,273	$133,058,471
EW	Edwards Lifesciences Corp	+93,241	199,455	$18,042,699
FCX	Freeport-Mcmoran Inc	+84,269	1,935,702	$121,736,298
BDX	Becton Dickinson & Co	+75,554	77,752	$11,766,210
AAPL	Apple Inc.	+72,512	2,116,984	$612,570,490
BKNG	Booking Holdings Inc.	+54,264	56,525	$10,075,016
WRB	Berkley W R Corp	+52,885	55,285	$3,899,251
CAT	Caterpillar Inc	+52,666	114,114	$121,519,998
MS	Morgan Stanley	+50,400	508,300	$106,255,032
MA	Mastercard Inc	+50,087	310,608	$159,528,268
PGR	Progressive Corp	+49,981	66,864	$14,606,440
CB	Chubb Ltd	+49,926	54,013	$18,404,389
GDDY	GoDaddy Inc.	+48,856	50,349	$4,273,623
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
IAU	Ishares Gold Trust	−2,630,000	663,500	$50,100,885
NFLX	Netflix Inc	−1,066,926	30,544	$2,180,841
TOST	Toast, Inc.	−1,053,000	4,808	$133,758
BSX	Boston Scientific Corp	−522,258	149,437	$6,377,971
ET	Energy Transfer LP	−382,897	2,966,911	$56,727
DHR	Danaher Corp	−360,100	35,038	$6,674,038
NVDA	Nvidia Corp	−265,967	3,271,822	$654,658,863
KO	Coca Cola Co	−218,700	1,081,300	$87,877,251
CX	Cemex Sab De CV	−186,141	137,532	$1,650,384
VTR	Ventas, Inc.	−168,833	663,205	$58,892,604
AJG	Arthur J. Gallagher & Co.	−154,812	10,388	$2,384,773
WMT	Walmart Inc.	−153,700	912,700	$103,372,402
BMY	Bristol Myers Squibb Co	−128,994	38,651	$2,227,070
WSO	Watsco Inc	−101,483	5,718	$2,382,862
ODFL	Old Dominion Freight Line, Inc.	−100,755	265,931	$57,600,654
NEM	NEWMONT Corp	−87,041	1,028,934	$96,102,435
MSFT	Microsoft Corp	−85,322	1,290,234	$481,283,086
PAGS	PagSeguro Digital Ltd.	−68,345	66,826	$604,775
HD	Home Depot, Inc.	−60,900	296,775	$104,666,607
AVGO	Broadcom Inc.	−56,803	790,055	$298,443,276
UPS	United Parcel Service Inc	−53,765	5,697	$612,427
CDNS	Cadence Design Systems Inc	−52,860	261,857	$98,280,169
B	Barrick Mining Corp	−51,709	66,877	$2,456,392
MSI	Motorola Solutions, Inc.	−50,223	168,624	$70,027,860
TECK	Teck Resources Ltd	−43,420	57	$3
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
JNJ	Johnson & Johnson	490,900	$124,673,873
AMAT	Applied Materials Inc	164,101	$118,645,023
DAL	Delta Air Lines, Inc.	714,148	$66,887,101
H	Hyatt Hotels Corp	319,400	$61,912,496
INTC	Intel Corp	316,752	$44,228,081
SBUX	Starbucks Corp	250,000	$25,547,500
SPCX	Space Exploration Technologies Corp	81,648	$13,950,377
SHEL	Shell plc	77,916	$6,041,606
XYL	Xylem Inc.	46,915	$5,545,822
CAH	Cardinal Health Inc	18,513	$4,397,948
AIG	American International Group, Inc.	49,627	$3,698,700
NOC	Northrop Grumman Corp	6,155	$3,134,803
WFC	Wells Fargo & Company	35,653	$2,946,363
GGB	Gerdau S.A.	623,722	$2,519,836
ES	Eversource Energy	26,055	$1,882,994
VICI	Vici Properties Inc.	61,910	$1,643,710
NTRS	Northern Trust Corp	9,416	$1,636,877
SIGI	Selective Insurance Group Inc	15,426	$1,496,476
SPGI	S&P Global Inc.	3,484	$1,418,893
FRT	Federal Realty Investment Trust	10,138	$1,251,434
ROL	Rollins Inc	26,922	$1,123,724
AZN	Astrazeneca PLC	5,872	$1,113,448
XEL	Xcel Energy Inc	13,471	$1,081,721
PSX	Phillips 66	6,248	$1,056,224
VMRK	Vivmark Residential	13,486	$916,103
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
PPH	VanEck Pharmaceutical ETF	531,600	$55,222,608
SPOT	Spotify Technology S.A.	113,835	$55,199,729
XRT	State Street(R) SPDR(R) S&P(R) Retail ETF	526,600	$42,375,502
XLI	State Street(R) Industrial Select Sector SPDR(R) ETF	219,865	$35,558,766
CVX	Chevron Corp	53,618	$11,093,564
WPM	Wheaton Precious Metals Corp.	82,294	$10,781,336
RIO	Rio Tinto PLC	78,262	$7,301,061
PR	Permian Resources Corp	208,846	$4,452,596
GLW	Corning Inc	22,757	$3,094,269
SCCO	Southern Copper Corp	10,608	$1,825,212
EBAY	Ebay Inc	14,621	$1,330,803
UI	Ubiquiti Inc.	1,356	$1,071,633
KRP	Kimbell Royalty Partners, LP	61,915	$895,910
COP	Conocophillips	6,068	$800,976
MDLZ	Mondelez International, Inc.	13,816	$796,354
DOCS	Doximity, Inc.	29,203	$680,429
LUV	Southwest Airlines Co	14,933	$561,032
CCK	Crown Holdings, Inc.	4,838	$485,009
DVN	Devon Energy Corp	6,602	$332,212
CHRW	C. H. Robinson Worldwide, Inc.	1,991	$330,645
RGLD	Royal Gold Inc	1,075	$273,576
PAAS	Pan American Silver Corp	4,843	$264,573
HUBB	Hubbell Inc	493	$241,934
SQM	Chemical & Mining Co Of Chile Inc	2,741	$221,856
XLY	State Street(R) Consumer Discretionary Select Sector SPDR(R) ETF	2,000	$217,960
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

510 tracked positions · $10,695,246,466 total · filing declares 511 positions · $12,589,005 · as of Jun 30, 2026

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

Showing 1–50 of 510 positions by value · page 1 of 11

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
NVDA	Nvidia Corp Technology	Reduced	3,271,822	-265,967	$654,658,863	+6.1%	26+	before history	6.12%
AAPL	Apple Inc. Technology	Added	2,116,984	+72,512	$612,570,490	+18.1%	22	$150.03	5.73%
MSFT	Microsoft Corp Technology	Reduced	1,290,234	-85,322	$481,283,086	−5.5%	26+	before history	4.50%
AMZN	Amazon Com Inc Consumer Cyclical	Reduced	1,847,315	-4,992	$440,289,057	+14.1%	26+	before history	4.12%
GOOG	Alphabet Inc. Communication Services	Added	1,076,258	+197,078	$380,274,239	+50.8%	5	$200.43	3.56%
AVGO	Broadcom Inc. Technology	Reduced	790,055	-56,803	$298,443,276	+13.9%	26+	before history	2.79%
AMD	Advanced Micro Devices Inc Technology	Reduced	365,075	-6,100	$212,075,718	+180.9%	3	$224.60	1.98%
PANW	Palo Alto Networks Inc Technology	Reduced	617,726	-10,400	$210,656,920	+109.2%	26+	before history	1.97%
META	Meta Platforms, Inc. Communication Services	Added	352,086	+33,694	$198,326,522	+8.9%	26+	before history	1.85%
GOOGL	Alphabet Inc. Communication Services	Added	498,268	+11,860	$178,066,035	+27.3%	26+	before history	1.66%
VGK	VANGUARD EUROPEAN STOCK INDEX FUND	Held	1,997,090	0	$176,822,348	+7.4%	2	$85.97	1.65%
LLY	ELI LILLY & Co Healthcare	Reduced	142,500	-30,400	$170,918,789	+7.5%	26+	before history	1.60%
WDC	Western Digital Corp Technology	Added	261,689	+106,141	$167,145,998	+297.3%	2	$352.38	1.56%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	504,900	-8,500	$165,268,917	+9.4%	22	$142.89	1.55%
MA	Mastercard Inc Financial Services	Added	310,608	+50,087	$159,528,268	+22.6%	26+	before history	1.49%
XOM	ExxonMobil Holdings Corp Energy	Reduced	1,154,357	-19,300	$157,823,689	−20.7%	26+	before history	1.48%
V	Visa Inc. Financial Services	Reduced	440,354	-1,486	$151,081,053	+13.1%	26+	before history	1.41%
TSLA	Tesla, Inc. Consumer Cyclical	Reduced	343,313	-8,443	$144,397,447	+10.4%	26+	before history	1.35%
BAC	Bank Of America Corp Financial Services	Added	2,445,089	+141,702	$139,321,171	+24.1%	5	$43.35	1.30%
MU	Micron Technology Inc Technology	Added	115,273	+94,869	$133,058,471	+1830.3%	3	$667.91	1.24%
VEA	Vanguard FTSE Developed Markets ETF	Held	1,798,331	0	$128,131,083	+11.2%	14	$51.02	1.20%
JNJ	Johnson & Johnson Healthcare	NEW	490,900	NEW	$124,673,873	NEW	1	$233.06	1.17%
FCX	Freeport-Mcmoran Inc Basic Materials	Added	1,935,702	+84,269	$121,736,298	+11.9%	25	$38.28	1.14%
CAT	Caterpillar Inc Industrials	Added	114,114	+52,666	$121,519,998	+179.1%	2	$778.39	1.14%
AMAT	Applied Materials Inc Technology	NEW	164,101	NEW	$118,645,023	NEW	1	$461.39	1.11%
ABBV	AbbVie Inc. Healthcare	Reduced	448,200	-7,600	$112,785,048	+13.8%	2	$221.82	1.05%
XBI	State Street(R) SPDR(R) S&P(R) Biotech ETF	Reduced	676,872	-11,400	$107,114,994	+21.8%	12	$87.99	1.00%
MS	Morgan Stanley Financial Services	Added	508,300	+50,400	$106,255,032	+41.0%	26+	before history	0.99%
ANET	Arista Networks, Inc. Technology	Reduced	624,891	-10,300	$106,156,483	+36.1%	5	$92.33	0.99%
UNH	Unitedhealth Group Inc Healthcare	Added	253,319	+243,379	$105,286,975	+3814.5%	11	$376.21	0.98%
HD	Home Depot, Inc. Consumer Cyclical	Reduced	296,775	-60,900	$104,666,607	−11.0%	5	$367.21	0.98%
WMT	Walmart Inc. Consumer Defensive	Reduced	912,700	-153,700	$103,372,402	−22.0%	12	$54.96	0.97%
PM	Philip Morris International Inc. Consumer Defensive	Added	566,479	+521,855	$102,481,715	+1289.0%	10	$168.84	0.96%
CDNS	Cadence Design Systems Inc Technology	Reduced	261,857	-52,860	$98,280,169	+12.4%	11	$279.55	0.92%
SCHW	Schwab Charles Corp Financial Services	Reduced	1,059,367	-17,500	$97,747,793	−3.4%	6	$83.79	0.91%
NEM	NEWMONT Corp Basic Materials	Reduced	1,028,934	-87,041	$96,102,435	−20.4%	25	$55.65	0.90%
COST	Costco Wholesale Corp Consumer Defensive	Reduced	100,933	-15,828	$94,419,793	−18.8%	26+	before history	0.88%
PH	Parker-Hannifin Corp Industrials	Reduced	94,986	-31,450	$92,907,706	−17.9%	11	$476.60	0.87%
AME	Ametek Inc Industrials	Added	379,304	+38,916	$91,768,809	+25.8%	3	$203.95	0.86%
FAST	Fastenal Co Industrials	Added	1,880,754	+261,137	$90,332,614	+20.2%	5	unpriced	0.84%
FITB	Fifth Third Bancorp Financial Services	Reduced	1,600,100	-27,100	$90,197,637	+19.3%	11	$33.04	0.84%
KO	Coca Cola Co Consumer Defensive	Reduced	1,081,300	-218,700	$87,877,251	−11.1%	22	$60.11	0.82%
ALLY	Ally Financial Inc. Financial Services	Reduced	1,824,746	-30,900	$83,847,078	+15.2%	11	$35.23	0.78%
TMO	Thermo Fisher Scientific Inc. Healthcare	Reduced	161,033	-2,700	$80,735,504	+0.3%	8	$582.99	0.75%
ISRG	Intuitive Surgical Inc Healthcare	Added	202,332	+27,200	$80,463,389	−0.3%	5	$505.81	0.75%
NXPI	NXP Semiconductors N.V. Technology	Reduced	283,762	-4,800	$79,745,634	+40.4%	26+	before history	0.75%
ETR	Entergy Corp Utilities	Reduced	659,975	-11,200	$75,804,728	+0.5%	21	$59.45	0.71%
ETN	Eaton Corp plc Industrials	Reduced	172,333	-2,900	$73,434,537	+17.2%	23	$172.17	0.69%
TJX	Tjx Companies Inc Consumer Cyclical	Reduced	481,988	-12,983	$73,021,182	−7.6%	26+	before history	0.68%
EQIX	Equinix Inc Real Estate	Reduced	70,050	-4,489	$73,019,419	−0.1%	22	$841.31	0.68%

Showing the top 50 of 510 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

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.