Utah Retirement Systems

Pension

CIK

1548392

Location

SALT LAKE CITY, UT

Portfolio Value

Mid $9,519,309,734

Diversification

Diversified

Filing Date

Global Rank

#434 / 8,592 ▼ 14

Top Industry

Semiconductors 12.2%

3Y Alpha vs SPY

-3.2%

Period ended 3 months ago

Filed May 15, 2026 · 35d

25 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+62.8%

SPY

+76.8%

Annualised alpha

-3.3%

Max drawdown

−18.9%

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

963 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

7.0%

−0.1 pts

Top 5

24.2%

−1.6 pts

Top 10

33.2%

−2.5 pts

HHI

167

Diversified−18

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	32.6%	$3,105,711,612	160
Financial Services	13.1%	$1,249,563,614	141
Consumer Cyclical	10.1%	$961,936,199	119
Healthcare	9.7%	$918,905,652	103
Industrials	9.2%	$873,062,755	158
Communication Services	8.0%	$758,057,472	35
Consumer Defensive	5.1%	$483,734,017	52
Energy	5.0%	$474,058,174	47
Utilities	2.5%	$242,076,129	41
Basic Materials	2.5%	$238,614,417	46
Real Estate	2.2%	$208,735,930	60
Unclassified	0.1%	$4,853,763	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
HBAN	Huntington Bancshares Inc /Md/	+82,620	325,932	$5,100,835
RKLB	Rocket Lab Corp	+57,797	79,590	$5,111,269
FTI	TechnipFMC plc	+43,875	65,135	$4,502,782
FITB	Fifth Third Bancorp	+36,972	146,864	$6,823,301
PANW	Palo Alto Networks Inc	+20,749	130,056	$20,850,577
ALEC	Alector, Inc.	+20,572	154,290	$331,723
COHR	Coherent Corp.	+20,147	28,388	$6,762,305
SNDK	Sandisk Corp	+16,067	23,196	$14,737,346
XPO	XPO, Inc.	+12,549	18,662	$3,630,692
FTAI	FTAI Aviation Ltd.	+11,151	16,535	$4,051,075
CCL	Carnival Corp Ltd.	+7,909	186,283	$4,821,004
LITE	Lumentum Holdings Inc.	+7,700	11,435	$8,036,060
CVE	Cenovus Energy Inc.	+7,602	147,894	$3,923,627
NLY	Annaly Capital Management Inc	+6,690	115,010	$2,432,461
WWD	Woodward, Inc.	+6,588	9,736	$3,484,709
AGNC	AGNC Investment Corp.	+6,310	179,781	$1,803,203
WAT	Waters Corp /De/	+6,186	15,974	$4,757,057
SOFI	SoFi Technologies, Inc.	+5,700	197,061	$3,129,328
SARO	StandardAero, Inc.	+4,651	12,139	$313,550
CPNG	Coupang, Inc.	+3,951	212,621	$4,014,284
NDAQ	Nasdaq, Inc.	+3,745	73,861	$6,270,060
CRCL	Circle Internet Group, Inc.	+3,531	40,650	$3,878,416
OVV	Ovintiv Inc.	+3,522	46,504	$2,760,477
GIL	Gildan Activewear Inc.	+3,492	19,796	$1,101,647
ROL	Rollins Inc	+2,673	48,727	$2,602,509
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
INVH	Invitation Homes Inc.	−436,550	99,322	$2,468,151
AVB	Avalonbay Communities Inc	−269,536	23,085	$3,770,934
HST	Host Hotels & Resorts, Inc.	−89,860	111,314	$2,132,776
MAA	Mid America Apartment Communities Inc.	−88,472	18,887	$2,306,480
AVTR	Avantor, Inc.	−75,800	34,921	$273,780
AAPL	Apple Inc.	−66,462	2,342,276	$594,446,226
NVDA	Nvidia Corp	−61,710	3,805,181	$663,623,566
ACI	Albertsons Companies, Inc.	−47,734	18,737	$319,278
ESS	Essex Property Trust, Inc.	−45,623	10,346	$2,503,732
BAC	Bank Of America Corp /De/	−41,536	1,067,791	$52,054,811
HRL	Hormel Foods Corp /De/	−32,351	15,289	$346,295
T	At&T Inc.	−29,832	1,123,667	$32,575,106
MTCH	Match Group, Inc.	−28,423	12,496	$383,752
FANG	Diamondback Energy, Inc.	−26,637	31,996	$6,328,488
AMZN	Amazon Com Inc	−25,292	1,559,622	$324,822,473
WFC	Wells Fargo & Company/Mn	−24,994	503,517	$40,084,988
SUI	Sun Communities Inc	−23,771	19,902	$2,506,855
XOM	Exxon Mobil Corp	−23,310	686,886	$116,537,078
MGM	MGM Resorts International	−22,981	10,830	$400,818
NNN	Nnn REIT, Inc.	−20,913	10,012	$420,804
MSFT	Microsoft Corp	−19,555	1,205,806	$446,353,207
TAP	Molson Coors Beverage Co	−19,085	8,866	$381,769
FR	First Industrial Realty Trust Inc	−18,400	6,765	$391,355
JEF	Jefferies Financial Group Inc.	−17,174	8,093	$333,998
C	Citigroup Inc	−17,161	281,798	$31,958,711
No positions match the current search.

New Positions

Positions the filer opened this quarter

21 positions

Ticker	Company	Shares	Value
RYTM	Rhythm Pharmaceuticals, Inc.	42,177	$3,668,133
BE	Bloom Energy Corp	23,689	$3,209,622
AMCR	Amcor plc	74,818	$2,974,015
SUNB	Sunbelt Rentals Holdings, Inc.	45,346	$2,951,571
CRWV	CoreWeave, Inc.	32,435	$2,512,739
MDLN	Medline Inc.	17,212	$765,934
BATL	Battalion Oil Corp	189,842	$740,383
PNFP	Pinnacle Financial Partners, Inc.	7,928	$682,917
QGEN	Qiagen N.V.	10,701	$428,468
LQDA	Liquidia Corp	10,911	$411,781
RYN	Rayonier Inc	15,639	$322,476
GFS	GLOBALFOUNDRIES Inc.	6,520	$290,009
VSNT	Versant Media Group, Inc.	7,669	$283,906
VVV	Valvoline Inc	6,863	$231,145
NVST	Envista Holdings Corp	9,000	$228,330
APLS	Apellis Pharmaceuticals, Inc.	5,600	$225,288
KRMN	Karman Holdings Inc.	2,697	$215,894
WLK	Westlake Corp	1,800	$210,276
ALGM	Allegro Microsystems, Inc.	6,505	$205,102
CORT	Corcept Therapeutics Inc	4,968	$200,260
UWMC	UWM Holdings Corp	11,866	$42,954
No positions match the current search.

Sold Out

Positions the filer fully exited

20 positions

Ticker	Company	Shares	Value
DB	Deutsche Bank Aktiengesellschaft	198,922	$7,670,432
EXAS	EXACT SCIENCES CORP	30,186	$3,065,690
ICLR	Icon PLC	8,677	$1,581,122
DRH	DiamondRock Hospitality Co	108,378	$971,066
TRNO	Terreno Realty Corp	7,468	$438,446
DUOL	Duolingo, Inc.	2,000	$351,000
DOCS	Doximity, Inc.	7,002	$310,048
RYAN	Ryan Specialty Holdings, Inc.	5,500	$283,965
GTLB	Gitlab Inc.	7,407	$277,984
APPF	Appfolio Inc	1,162	$270,339
MORN	Morningstar, Inc.	1,243	$270,116
BRKR	Bruker Corp	5,460	$257,220
BILL	BILL Holdings, Inc.	4,269	$232,831
KRC	Kilroy Realty Corp	6,200	$231,694
AGO	Assured Guaranty Ltd	2,461	$221,170
FOUR	Shift4 Payments, Inc.	3,508	$220,898
ELF	e.l.f. Beauty, Inc.	2,900	$220,516
WHR	Whirlpool Corp /De/	2,900	$209,206
BHF	Brighthouse Financial, Inc.	3,142	$203,570
VKTX	Viking Therapeutics, Inc.	5,700	$200,526
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

963 positions · $9,519,309,734 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 963 positions by value · page 1 of 20

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
NVDA	Nvidia Corp Technology	Reduced	3,805,181	-61,710	$663,623,566	−8.0%	6.97%
AAPL	Apple Inc. Technology	Reduced	2,342,276	-66,462	$594,446,226	−9.2%	6.24%
MSFT	Microsoft Corp Technology	Reduced	1,205,806	-19,555	$446,353,207	−24.7%	4.69%
AMZN	Amazon Com Inc Consumer Cyclical	Reduced	1,559,622	-25,292	$324,822,473	−11.2%	3.41%
GOOGL	Alphabet Inc. Communication Services	Reduced	945,076	-15,327	$271,766,054	−9.6%	2.85%
AVGO	Broadcom Inc. Technology	Reduced	750,869	-12,178	$232,401,464	−12.0%	2.44%
META	Meta Platforms, Inc. Communication Services	Reduced	354,986	-5,756	$203,098,140	−14.7%	2.13%
TSLA	Tesla, Inc. Consumer Cyclical	Reduced	458,753	-6,454	$170,541,427	−18.5%	1.79%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	441,676	-13,968	$129,923,412	−11.5%	1.36%
LLY	ELI LILLY & Co Healthcare	Reduced	130,252	-2,112	$119,801,882	−15.8%	1.26%
XOM	Exxon Mobil Corp Energy	Reduced	686,886	-23,310	$116,537,078	+36.4%	1.22%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	240,406	-3,318	$115,202,555	−6.0%	1.21%
JNJ	Johnson & Johnson Healthcare	Reduced	391,254	-6,345	$95,638,127	+16.2%	1.00%
WMT	Walmart Inc. Consumer Defensive	Reduced	707,359	-11,471	$87,910,576	+9.8%	0.92%
V	Visa Inc. Financial Services	Reduced	273,685	-6,671	$82,718,554	−15.9%	0.87%
COST	Costco Wholesale Corp /New Consumer Defensive	Reduced	72,165	-1,171	$71,907,370	+13.7%	0.76%
NFLX	Netflix Inc Communication Services	Reduced	689,048	-11,172	$66,251,965	+0.9%	0.70%
MA	Mastercard Inc Financial Services	Reduced	130,792	-3,166	$65,351,530	−14.5%	0.69%
CVX	Chevron Corp Energy	Reduced	304,600	-10,240	$63,021,740	+31.3%	0.66%
ABBV	AbbVie Inc. Healthcare	Reduced	288,031	-4,671	$62,643,862	−6.3%	0.66%
MU	Micron Technology Inc Technology	Reduced	181,660	-2,946	$61,372,014	+16.5%	0.64%
PG	PROCTER & GAMBLE Co Consumer Defensive	Reduced	381,889	-6,193	$55,160,047	−0.8%	0.58%
CAT	Caterpillar Inc Industrials	Reduced	75,282	-1,221	$53,334,285	+21.7%	0.56%
AMD	Advanced Micro Devices Inc Technology	Reduced	261,831	-4,247	$53,264,280	−6.5%	0.56%
HD	Home Depot, Inc. Consumer Cyclical	Reduced	161,879	-2,625	$53,240,384	−5.9%	0.56%
BAC	Bank Of America Corp /De/ Financial Services	Reduced	1,067,791	-41,536	$52,054,811	−14.7%	0.55%
PLTR	Palantir Technologies Inc. Technology	Reduced	355,140	-5,758	$51,949,879	−19.0%	0.55%
CSCO	Cisco Systems, Inc. Technology	Reduced	647,122	-10,494	$50,210,195	−0.9%	0.53%
MRK	Merck & Co., Inc. Healthcare	Reduced	404,056	-12,241	$48,603,896	+10.9%	0.51%
KO	Coca Cola Co Consumer Defensive	Reduced	632,272	-10,254	$48,084,285	+7.0%	0.51%
GE	General Electric Co Industrials	Reduced	169,114	-4,023	$47,989,479	−10.0%	0.50%
AMAT	Applied Materials Inc /De Technology	Reduced	128,978	-3,542	$44,083,390	+29.4%	0.46%
LRCX	Lam Research Corp Technology	Reduced	204,137	-5,899	$43,615,911	+21.3%	0.46%
RTX	RTX Corp Industrials	Reduced	217,521	-3,528	$41,959,800	+3.5%	0.44%
PM	Philip Morris International Inc. Consumer Defensive	Reduced	253,308	-4,107	$41,881,944	+1.4%	0.44%
GS	Goldman Sachs Group Inc Financial Services	Reduced	47,774	-1,534	$40,416,326	−6.7%	0.42%
ORCL	Oracle Corp Technology	Reduced	273,685	-1,354	$40,261,800	−24.9%	0.42%
WFC	Wells Fargo & Company/Mn Financial Services	Reduced	503,517	-24,994	$40,084,988	−18.6%	0.42%
UNH	Unitedhealth Group Inc Healthcare	Reduced	147,949	-2,399	$40,033,519	−19.3%	0.42%
GEV	GE Vernova Inc. Industrials	Reduced	43,895	-1,276	$38,315,945	+29.8%	0.40%
LIN	Linde PLC Basic Materials	Reduced	76,349	-1,239	$37,850,780	+14.4%	0.40%
IBM	International Business Machines Corp Technology	Reduced	151,271	-2,453	$36,666,577	−19.5%	0.39%
MCD	Mcdonalds Corp Consumer Cyclical	Reduced	116,224	-1,885	$36,121,256	+0.1%	0.38%
PEP	Pepsico Inc Consumer Defensive	Reduced	222,793	-3,763	$34,597,524	+6.4%	0.36%
VZ	Verizon Communications Inc Communication Services	Reduced	686,671	-11,136	$34,470,884	+21.3%	0.36%
T	At&T Inc. Communication Services	Reduced	1,123,667	-29,832	$32,575,106	+13.7%	0.34%
C	Citigroup Inc Financial Services	Reduced	281,798	-17,161	$31,958,711	−8.4%	0.34%
INTC	Intel Corp Technology	Reduced	718,651	-5,628	$31,714,068	+18.7%	0.33%
NEE	Nextera Energy Inc Utilities	Reduced	339,185	-2,807	$31,503,502	+14.7%	0.33%
KLAC	Kla Corp Technology	Reduced	21,393	-515	$31,499,267	+18.3%	0.33%