STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM

Pension

CIK

938076

Location

TALLAHASSEE, FL

Portfolio Value

Large $51,946,487,194

Diversification

Diversified

Filing Date

Global Rank

#138 / 8,621 ▼ 2 · as of Mar 2026

Top Industry

Semiconductors 12.1%

3Y Alpha vs SPY

-2.7%

Period ended 4 months ago

Filed May 8, 2026 · 3mo

25 quarters · since Mar 2020

Clone Performance

Jul 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

+65.1%

SPY

+67.9%

Annualised alpha

-0.7%

Max drawdown

−19.0%

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. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

2,036 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

6.9%

−0.2 pts

Top 5

23.9%

−1.9 pts

Top 10

33.1%

−2.6 pts

HHI

164

Diversified−21

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	32.4%	$16,852,154,489	325
Financial Services	12.9%	$6,726,331,018	306
Consumer Cyclical	10.4%	$5,393,873,239	231
Healthcare	10.0%	$5,210,732,717	305
Industrials	9.6%	$4,993,734,356	313
Communication Services	8.0%	$4,135,798,920	72
Consumer Defensive	5.2%	$2,701,903,687	89
Energy	4.3%	$2,220,549,046	96
Utilities	2.5%	$1,320,148,730	62
Real Estate	2.3%	$1,213,199,596	146
Basic Materials	2.2%	$1,150,692,154	88
Unclassified	0.1%	$27,369,242	3

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
BORR	Borr Drilling Ltd	+438,478	503,708	$2,906,395
HLMN	Hillman Solutions Corp.	+273,951	329,711	$2,743,195
PBYI	Puma Biotechnology, Inc.	+245,555	272,890	$1,743,767
FITB	Fifth Third Bancorp	+229,686	845,603	$39,286,715
HLX	Helix Energy Solutions Group Inc	+227,505	291,502	$2,882,954
AMRX	Amneal Pharmaceuticals, Inc.	+172,226	233,994	$2,908,545
HE	Hawaiian Electric Industries Inc	+147,247	189,801	$2,816,646
HBAN	Huntington Bancshares Inc /Md/	+130,803	1,342,521	$21,010,453
OSW	ONESPAWORLD HOLDINGS Ltd	+104,458	128,280	$2,944,026
AUR	Aurora Innovation, Inc.	+103,287	1,052,491	$4,336,262
ECVT	Ecovyst Inc.	+103,171	130,361	$1,676,442
PAGS	PagSeguro Digital Ltd.	+88,562	149,822	$1,501,216
DLX	Deluxe Corp	+78,872	94,040	$2,589,861
PANW	Palo Alto Networks Inc	+77,870	664,818	$106,583,621
EBC	Eastern Bankshares, Inc.	+72,300	116,560	$2,279,913
CCC	CCC Intelligent Solutions Holdings Inc.	+70,543	324,018	$1,944,108
XHR	Xenia Hotels & Resorts, Inc.	+69,853	101,678	$1,507,884
COMP	Compass, Inc.	+63,198	148,458	$1,085,227
GIII	G III Apparel Group Ltd /De/	+61,533	73,554	$2,037,445
LXU	Lsb Industries, Inc.	+60,474	76,164	$1,134,843
RKLB	Rocket Lab Corp	+57,151	407,499	$26,169,585
SF	Stifel Financial Corp	+51,206	153,621	$11,355,664
FIBK	First Interstate Bancsystem Inc	+50,466	74,066	$2,473,804
FULT	Fulton Financial Corp	+45,915	114,400	$2,326,896
CDE	Coeur Mining, Inc.	+43,373	151,388	$2,841,552
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
AAPL	Apple Inc.	−252,242	12,700,394	$3,223,232,993
NVDA	Nvidia Corp	−234,483	20,592,909	$3,591,403,329
MDXG	Mimedx Group, Inc.	−192,999	32,936	$130,097
OIS	Oil States International, Inc	−160,271	222,793	$2,593,310
T	At&T Inc.	−151,922	6,117,779	$177,354,413
HTBK	HERITAGE COMMERCE CORP	−146,855	16,910	$211,036
BAC	Bank Of America Corp /De/	−141,200	5,857,843	$285,569,846
SIGA	Siga Technologies Inc	−107,349	131,626	$704,199
AM	Antero Midstream Corp	−104,134	284,291	$6,481,834
WFC	Wells Fargo & Company/Mn	−92,263	2,762,415	$219,915,858
XOM	ExxonMobil Holdings Corp	−88,459	3,728,379	$632,556,781
TTI	Tetra Technologies Inc	−85,447	242,447	$2,065,648
AMZN	Amazon Com Inc	−85,431	8,417,266	$1,753,063,989
FIGS	FIGS, Inc.	−82,748	185,546	$2,740,514
LADR	Ladder Capital Corp	−82,532	32,337	$315,932
SXC	SunCoke Energy, Inc.	−78,885	47,982	$312,362
JBI	Janus International Group, Inc.	−78,479	24,250	$124,887
RLGT	Radiant Logistics, Inc	−73,763	111,036	$782,803
MSFT	Microsoft Corp	−73,737	6,486,812	$2,401,223,198
NFLX	Netflix Inc	−70,717	3,719,935	$357,671,750
DOLE	Dole plc	−68,336	20,420	$291,801
LAUR	Laureate Education, Inc.	−65,545	51,573	$1,796,803
GOOGL	Alphabet Inc.	−59,992	5,106,946	$1,468,553,391
WMT	Walmart Inc.	−58,181	3,821,290	$474,909,921
C	Citigroup Inc	−58,176	1,552,066	$176,019,805
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
AMCR	Amcor plc	404,607	$16,083,128
PNFP	Pinnacle Financial Partners, Inc.	141,257	$12,167,877
QGEN	Qiagen N.V.	193,942	$7,765,437
MDLN	Medline Inc.	131,405	$5,847,522
VSNT	Versant Media Group, Inc.	118,846	$4,399,678
MBIN	Merchants Bancorp	57,240	$2,456,168
XENE	Xenon Pharmaceuticals Inc.	19,097	$1,110,490
CVLG	Covenant Logistics Group, Inc.	38,118	$1,034,903
CMCO	Columbus Mckinnon Corp	71,100	$1,033,083
VAL	Valaris Ltd	9,975	$977,949
KOP	Koppers Holdings Inc.	24,565	$950,174
HVT	Haverty Furniture Companies Inc	31,331	$663,590
IREN	IREN Ltd	18,650	$639,322
BTSG	BrightSpring Health Services, Inc.	14,084	$600,119
UNF	Unifirst Corp	2,231	$561,297
USAR	USA Rare Earth, Inc.	36,468	$551,943
SPB	Spectrum Brands Holdings, Inc.	6,370	$469,469
ERAS	Erasca, Inc.	27,777	$449,431
CAI	Caris Life Sciences, Inc.	24,293	$434,358
NBR	Nabors Industries Ltd	4,930	$424,275
LUNR	Intuitive Machines, Inc.	21,008	$389,908
ICHR	Ichor Holdings, Ltd.	8,150	$379,871
SOC	Sable Offshore Corp.	22,221	$367,090
AMPX	Amprius Technologies, Inc.	21,040	$354,734
IMNM	Immunome Inc.	15,740	$344,233
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
EXAS	EXACT SCIENCES CORP	157,460	$15,991,637
TGNA	TEGNA INC	63,906	$1,240,415
ETD	Ethan Allen Interiors Inc	42,687	$974,971
HSTM	Healthstream Inc	37,749	$870,869
CNXN	Pc Connection Inc	14,627	$844,855
CRAI	Cra International, Inc.	3,957	$794,169
CWCO	Consolidated Water Co. Ltd.	17,536	$618,845
GLDD	Great Lakes Dredge & Dock CORP	43,029	$564,540
IIIN	Insteel Industries Inc	15,371	$486,799
ELME	Elme Communities	25,098	$436,705
MNDY	monday.com Ltd.	2,635	$388,820
AIV	Apartment Investment & Management Co	64,445	$382,803
WIX	Wix.com Ltd.	3,448	$358,212
TR	Tootsie Roll Industries Inc	9,557	$350,072
INTA	Intapp, Inc.	7,200	$329,904
BBSI	Barrett Business Services Inc	9,089	$329,112
BRC	Brady Corp	4,197	$328,918
SD	Sandridge Energy Inc	22,409	$323,361
SPOK	Spok Holdings, Inc	22,698	$299,386
LOCO	El Pollo Loco Holdings, Inc.	28,359	$296,635
VITL	Vital Farms, Inc.	8,859	$282,956
CSTL	Castle Biosciences Inc	7,154	$278,290
LYTS	Lsi Industries Inc	15,083	$276,320
PAR	Par Technology Corp	7,602	$275,800
ROOT	Root, Inc.	3,787	$273,535
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

2,036 positions · $51,946,487,194 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 2,036 positions by value · page 1 of 41

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
NVDA	Nvidia Corp Technology	Reduced	20,592,909	-234,483	$3,591,403,329	−7.5%	6.91%
AAPL	Apple Inc. Technology	Reduced	12,700,394	-252,242	$3,223,232,993	−8.5%	6.20%
MSFT	Microsoft Corp Technology	Reduced	6,486,812	-73,737	$2,401,223,198	−24.3%	4.62%
AMZN	Amazon Com Inc Consumer Cyclical	Reduced	8,417,266	-85,431	$1,753,063,989	−10.7%	3.37%
GOOGL	Alphabet Inc. Communication Services	Reduced	5,106,946	-59,992	$1,468,553,391	−9.2%	2.83%
AVGO	Broadcom Inc. Technology	Reduced	4,045,926	-45,541	$1,252,254,556	−11.6%	2.41%
META	Meta Platforms, Inc. Communication Services	Reduced	1,915,500	-23,110	$1,095,915,015	−14.4%	2.11%
TSLA	Tesla, Inc. Consumer Cyclical	Reduced	2,478,051	-26,550	$921,215,459	−18.2%	1.77%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	1,586,796	-22,714	$760,392,643	−6.0%	1.46%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	2,384,247	-44,260	$701,350,097	−10.4%	1.35%
LLY	ELI LILLY & Co Healthcare	Reduced	703,816	-7,774	$647,348,842	−15.3%	1.25%
XOM	ExxonMobil Holdings Corp Energy	Reduced	3,728,379	-88,459	$632,556,781	+37.7%	1.22%
JNJ	Johnson & Johnson Healthcare	Reduced	2,104,775	-27,449	$514,491,201	+16.6%	0.99%
WMT	Walmart Inc. Consumer Defensive	Reduced	3,821,290	-58,181	$474,909,921	+9.9%	0.91%
V	Visa Inc. Financial Services	Reduced	1,478,954	-28,556	$446,999,056	−15.5%	0.86%
COST	Costco Wholesale Corp /New Consumer Defensive	Reduced	390,518	-5,026	$389,123,850	+14.1%	0.75%
NFLX	Netflix Inc Communication Services	Reduced	3,719,935	-70,717	$357,671,750	+0.6%	0.69%
MA	Mastercard Inc Financial Services	Reduced	708,951	-15,286	$354,234,456	−14.3%	0.68%
CVX	Chevron Corp Energy	Reduced	1,658,717	-49,564	$343,188,547	+31.8%	0.66%
ABBV	AbbVie Inc. Healthcare	Reduced	1,550,017	-23,238	$337,113,197	−6.2%	0.65%
MU	Micron Technology Inc Technology	Reduced	980,859	-7,303	$331,373,404	+17.5%	0.64%
PG	PROCTER & GAMBLE Co Consumer Defensive	Reduced	2,050,267	-29,296	$296,140,565	−0.6%	0.57%
CAT	Caterpillar Inc Industrials	Reduced	407,879	-4,033	$288,965,956	+22.5%	0.56%
AMD	Advanced Micro Devices Inc Technology	Reduced	1,413,874	-12,967	$287,624,387	−5.9%	0.55%
HD	Home Depot, Inc. Consumer Cyclical	Reduced	869,708	-10,578	$286,038,264	−5.6%	0.55%
BAC	Bank Of America Corp /De/ Financial Services	Reduced	5,857,843	-141,200	$285,569,846	−13.4%	0.55%
PLTR	Palantir Technologies Inc. Technology	Reduced	1,925,140	-18,896	$281,609,479	−18.5%	0.54%
CSCO	Cisco Systems, Inc. Technology	Reduced	3,476,566	-45,366	$269,746,755	−0.6%	0.52%
MRK	Merck & Co., Inc. Healthcare	Reduced	2,204,006	-27,749	$265,119,881	+12.9%	0.51%
GE	General Electric Co Industrials	Reduced	919,595	-21,036	$260,953,473	−9.9%	0.50%
KO	Coca Cola Co Consumer Defensive	Reduced	3,404,898	-40,791	$258,942,492	+7.5%	0.50%
AMAT	Applied Materials Inc /De Technology	Reduced	696,765	-1,751	$238,147,309	+32.7%	0.46%
LRCX	Lam Research Corp Technology	Reduced	1,106,725	-33,358	$236,462,863	+21.2%	0.46%
RTX	RTX Corp Industrials	Reduced	1,182,552	-11,120	$228,114,280	+4.2%	0.44%
PM	Philip Morris International Inc. Consumer Defensive	Reduced	1,370,492	-14,526	$226,597,147	+2.0%	0.44%
WFC	Wells Fargo & Company/Mn Financial Services	Reduced	2,762,415	-92,263	$219,915,858	−17.3%	0.42%
GS	Goldman Sachs Group Inc Financial Services	Reduced	258,986	-6,616	$219,099,566	−6.2%	0.42%
ORCL	Oracle Corp Technology	Reduced	1,479,949	-12,742	$217,715,297	−25.2%	0.42%
UNH	Unitedhealth Group Inc Healthcare	Reduced	797,305	-6,298	$215,742,759	−18.7%	0.42%
GEV	GE Vernova Inc. Industrials	Reduced	239,451	-3,442	$209,016,777	+31.7%	0.40%
LIN	Linde PLC Basic Materials	Reduced	408,258	-3,592	$202,397,986	+15.3%	0.39%
IBM	International Business Machines Corp Technology	Reduced	815,381	-8,022	$197,640,200	−19.0%	0.38%
MCD	Mcdonalds Corp Consumer Cyclical	Reduced	627,919	-7,171	$195,150,946	+0.5%	0.38%
PEP	Pepsico Inc Consumer Defensive	Reduced	1,202,074	-5,850	$186,670,071	+7.7%	0.36%
VZ	Verizon Communications Inc Communication Services	Reduced	3,690,063	-1,818	$185,241,162	+23.2%	0.36%
T	At&T Inc. Communication Services	Reduced	6,117,779	-151,922	$177,354,413	+13.9%	0.34%
C	Citigroup Inc Financial Services	Reduced	1,552,066	-58,176	$176,019,805	−6.3%	0.34%
INTC	Intel Corp Technology	Reduced	3,859,890	-25,995	$170,336,945	+18.8%	0.33%
KLAC	Kla Corp Technology	Reduced	115,187	-3,087	$169,602,490	+18.0%	0.33%
NEE	Nextera Energy Inc Utilities	Reduced	1,819,628	-14,221	$169,007,048	+14.8%	0.33%