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Pension ← All Institutions

STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM

1801 HERMITAGE BLVD, SUITE 100 P.O. BOX 13300, TALLAHASSEE, FL 32317-3300 • 8504884406

Q2 2025 · Filed 2025-08-13
Market Value
$56.1B
+11.7%
Holdings
2,163
-12
New Purchases
55
Added To
778
Closed
70
Reduced
388
Top 10 Concentration
32.9%
Turnover
5.8%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
NVDA 6.41% 4.90% +1.52% $3.6B
MSFT 6.36% 5.36% +1.00% $3.6B
AVGO 2.20% 1.48% +0.72% $1.2B
EFA 0.37% 0.00% +0.37% $209M
META 2.79% 2.43% +0.36% $1.6B
NFLX 0.99% 0.77% +0.22% $554M
ORCL 0.61% 0.42% +0.19% $344M
PLTR 0.51% 0.33% +0.18% $287M
AMZN 3.61% 3.43% +0.18% $2.0B
TSLA 1.55% 1.39% +0.16% $868M
COF 0.23% 0.13% +0.10% $129M
GEV 0.25% 0.16% +0.09% $141M
AMD 0.40% 0.32% +0.08% $222M
HOOD 0.12% 0.05% +0.07% $68M
JPM 1.39% 1.33% +0.06% $781M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AAPL 5.23% 6.30% -1.06% $2.9B
UNH 0.49% 0.92% -0.44% $274M
BRK-B 1.52% 1.84% -0.33% $850M
XOM 0.81% 1.02% -0.21% $453M
LLY 1.08% 1.27% -0.19% $608M
ABBV 0.57% 0.71% -0.14% $320M
JNJ 0.63% 0.77% -0.14% $353M
CVX 0.41% 0.54% -0.14% $228M
PG 0.64% 0.77% -0.14% $357M
TMO 0.26% 0.36% -0.10% $148M
MRK 0.34% 0.44% -0.09% $193M
V 1.04% 1.14% -0.09% $586M
DFS 0.00% 0.08% -0.08% $0
PEP 0.30% 0.39% -0.08% $171M
MA 0.79% 0.87% -0.08% $443M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Technology 31.6%
Financial Services 13.0%
Communication Services 10.0%
Consumer Cyclical 9.9%
Healthcare 9.8%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 55 $30.6B 54.6%
Large Cap 679 $23.1B 41.2%
Mid Cap 812 $2.1B 3.7%
Small Cap 536 $251M 0.4%
Micro Cap 81 $9M 0.0%

Portfolio Analytics

Avg Market Cap
$38.1B
Median Market Cap
$4.8B
Avg P/E
34.5
Median P/E
21.8
Avg Dividend Yield
0.02%
Avg Beta
1.10
# Stocks
2,161
# ETFs / Funds
2

Top Holdings (2,163 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 NVDA 6.41% 22,770,084 $3.6B $157.99 $1.1B +78,225 +0.3%
2 MSFT 6.36% 7,174,129 $3.6B $497.41 $878M +6,915 +0.1%
3 AAPL 5.23% 14,309,174 $2.9B $205.17 -$228M +66,558 +0.5%
4 AMZN 3.61% 9,233,157 $2.0B $219.39 $300M +164,821 +1.8%
5 META 2.79% 2,120,497 $1.6B $738.09 $345M +4,216 +0.2%
6 AVGO 2.20% 4,476,173 $1.2B $275.65 $492M +48,043 +1.1%
7 GOOGL 1.77% 5,650,259 $996M $176.23 $120M -12,247 -0.2%
8 TSLA 1.55% 2,733,662 $868M $317.66 $170M +40,206 +1.5%
9 BRK-B 1.52% 1,750,113 $850M $485.77 -$75M +13,028 +0.8%
10 GOOG 1.45% 4,587,366 $814M $177.39 $77M -131,514 -2.8%
11 JPM 1.39% 2,693,747 $781M $289.91 $112M -34,633 -1.3%
12 LLY 1.08% 779,641 $608M $779.53 -$33M +4,358 +0.6%
13 V 1.04% 1,651,081 $586M $355.05 $14M +19,192 +1.2%
14 NFLX 0.99% 413,917 $554M $1,339.13 $170M +1,412 +0.3%
15 XOM 0.81% 4,201,792 $453M $107.80 -$60M -112,048 -2.6%
16 MA 0.79% 789,153 $443M $561.94 $7M -6,460 -0.8%
17 COST 0.76% 431,511 $427M $989.94 $22M +3,112 +0.7%
18 WMT 0.75% 4,278,051 $418M $97.78 $45M +22,934 +0.5%
19 PG 0.64% 2,240,297 $357M $159.32 -$31M -34,032 -1.5%
20 JNJ 0.63% 2,308,070 $353M $152.75 -$33M -17,270 -0.7%
21 HD 0.63% 957,203 $351M $366.64 $2M +4,866 +0.5%
22 ORCL 0.61% 1,571,512 $344M $218.63 $130M +47,336 +3.1%
23 ABBV 0.57% 1,722,506 $320M $185.62 -$38M +13,552 +0.8%
24 BAC 0.56% 6,664,900 $315M $47.32 $39M +38,937 +0.6%
25 PLTR 0.51% 2,107,117 $287M $136.32 $120M +120,723 +6.1%
26 UNH 0.49% 877,197 $274M $311.97 -$191M -9,668 -1.1%
27 PM 0.49% 1,501,347 $273M $182.13 $38M +19,790 +1.3%
28 CSCO 0.49% 3,925,767 $272M $69.38 $29M -11,146 -0.3%
29 KO 0.48% 3,833,700 $271M $70.75 -$4M -7,296 -0.2%
30 GE 0.48% 1,036,786 $267M $257.39 $57M -11,239 -1.1%
31 IBM 0.47% 892,422 $263M $294.78 $45M +14,889 +1.7%
32 WFC 0.46% 3,248,561 $260M $80.12 $26M -19,670 -0.6%
33 CRM 0.44% 908,101 $248M $272.69 $6M +7,482 +0.8%
34 ABT 0.41% 1,685,536 $229M $136.01 $7M +12,698 +0.8%
35 CVX 0.41% 1,592,942 $228M $143.19 -$45M -39,080 -2.4%
36 AMD 0.40% 1,563,183 $222M $141.90 $62M +9,759 +0.6%
37 DIS 0.39% 1,761,388 $218M $124.01 $46M +12,987 +0.7%
38 INTU 0.37% 267,021 $210M $787.63 $48M +2,700 +1.0%
39 LIN 0.37% 446,982 $210M $469.18 -$2M -7,522 -1.6%
40 NOW 0.37% 203,956 $210M $1,028.08 $49M +2,674 +1.3%
41 GS 0.37% 296,192 $210M $707.75 $50M +3,503 +1.2%
42 EFA 0.37% 2,342,019 $209M $89.39 +2,342,019 NEW
43 T 0.37% 7,079,798 $205M $28.94 $4M -15,556 -0.2%
44 MCD 0.36% 694,650 $203M $292.17 -$11M +9,250 +1.4%
45 MRK 0.34% 2,438,983 $193M $79.16 -$27M -13,538 -0.6%
46 RTX 0.34% 1,317,166 $192M $146.02 $20M +16,034 +1.2%
47 ISRG 0.33% 345,244 $188M $543.41 $19M +4,810 +1.4%
48 BKNG 0.33% 32,404 $188M $5,789.24 $37M -251 -0.8%
49 UBER 0.33% 1,976,660 $184M $93.30 $41M +13,137 +0.7%
50 TXN 0.33% 880,583 $183M $207.62 $25M +4,409 +0.5%
51 ACN 0.32% 604,321 $181M $298.89 -$7M +3,350 +0.6%
52 VZ 0.31% 4,033,360 $175M $43.27 -$11M -52,832 -1.3%
53 CAT 0.31% 447,203 $174M $388.21 $21M -16,075 -3.5%
54 AXP 0.31% 538,797 $172M $318.98 $28M +3,250 +0.6%
55 PEP 0.30% 1,291,610 $171M $132.04 -$23M +302 +0.0%
56 QCOM 0.30% 1,056,990 $168M $159.26 $4M -11,590 -1.1%
57 ADBE 0.29% 419,081 $162M $386.88 -$2M -8,032 -1.9%
58 SPGI 0.29% 303,802 $160M $527.29 $6M +946 +0.3%
59 MS 0.29% 1,136,149 $160M $140.86 $29M +15,160 +1.4%
60 BSX 0.28% 1,463,096 $157M $107.41 $10M +2,729 +0.2%
61 C 0.28% 1,837,706 $156M $85.12 $27M +19,660 +1.1%
62 PGR 0.27% 574,253 $153M $266.86 -$7M +7,490 +1.3%
63 BLK 0.27% 144,929 $152M $1,049.25 $19M +3,822 +2.7%
64 BA 0.26% 708,119 $148M $209.53 $29M +8,042 +1.1%
65 TMO 0.26% 364,649 $148M $405.46 -$35M -2,248 -0.6%
66 HON 0.26% 621,406 $145M $232.88 $14M +3,984 +0.7%
67 SCHW 0.26% 1,581,022 $144M $91.24 $23M +26,480 +1.7%
68 AMGN 0.26% 515,935 $144M $279.21 -$15M +5,010 +1.0%
69 AMAT 0.25% 777,276 $142M $183.07 $27M -17,350 -2.2%
70 GEV 0.25% 266,371 $141M $529.15 $61M +4,729 +1.8%
71 NEE 0.25% 2,015,799 $140M $69.42 -$3M +6,332 +0.3%
72 ETN 0.24% 383,782 $137M $356.99 $34M +4,134 +1.1%
73 GILD 0.24% 1,220,231 $135M $110.87 $331K +15,800 +1.3%
74 PFE 0.24% 5,531,049 $134M $24.24 -$7M -45,255 -0.8%
75 TJX 0.24% 1,082,991 $134M $123.49 $468K -11,188 -1.0%
76 MU 0.24% 1,074,540 $132M $123.25 $40M +13,950 +1.3%
77 SYK 0.23% 330,087 $131M $395.63 $4M -9,731 -2.9%
78 UNP 0.23% 564,917 $130M $230.08 -$5M -5,015 -0.9%
79 COF 0.23% 606,633 $129M $212.76 $65M +250,105 +70.2%
80 PANW 0.23% 628,856 $129M $204.64 $24M +12,504 +2.0%
81 CMCSA 0.22% 3,519,582 $126M $35.69 -$12M -214,107 -5.7%
82 LRCX 0.22% 1,271,816 $124M $97.34 $32M +9,216 +0.7%
83 DE 0.22% 242,321 $123M $508.49 $9M -857 -0.3%
84 DHR 0.22% 622,726 $123M $197.54 -$4M +1,912 +0.3%
85 ADP 0.22% 395,921 $122M $308.40 $2M +2,585 +0.7%
86 LOW 0.22% 548,276 $122M $221.87 -$6M +2,228 +0.4%
87 APH 0.21% 1,212,268 $120M $98.75 $41M +17,620 +1.5%
88 CRWD 0.21% 231,656 $118M $509.31 $39M +8,574 +3.8%
89 COP 0.21% 1,308,767 $117M $89.74 -$21M -6,562 -0.5%
90 KLAC 0.21% 130,395 $117M $895.74 $28M -929 -0.7%
91 ADI 0.20% 475,568 $113M $238.02 $18M +3,028 +0.6%
92 SPOT 0.20% 146,380 $112M $767.34 $34M +4,238 +3.0%
93 VRTX 0.20% 251,011 $112M $445.20 -$9M +2,302 +0.9%
94 TMUS 0.20% 468,295 $112M $238.26 -$12M +4,320 +0.9%
95 MDT 0.19% 1,219,635 $106M $87.17 -$5M -15,917 -1.3%
96 CB 0.19% 362,188 $105M $289.72 -$9M -15,478 -4.1%
97 BX 0.19% 699,006 $105M $149.58 $8M +11,059 +1.6%
98 MMC 0.19% 476,515 $104M $218.64 -$13M -1,664 -0.3%
99 ICE 0.18% 559,197 $103M $183.47 $6M +460 +0.1%
100 SBUX 0.18% 1,111,509 $102M $91.63 -$6M +16,750 +1.5%

New Positions

SymbolValue% Port
EFA $209M 0.37%
IWB $20M 0.04%
RKLB $11M 0.02%
TLN $10M 0.02%
QXO $9M 0.02%
RBRK $7M 0.01%
RAL $5M 0.01%
ONON $5M 0.01%
TEM $4M 0.01%
CHWY $4M 0.01%
QSR $4M 0.01%
FLEX $3M —%
PATK $2M —%
FRHC $2M —%
OKLO $1M —%

Sold Out Positions

SymbolValue% Port
AMN —%
WMK —%
CCO —%
AMPY —%
STEM —%
MTH —%
GCTS —%
CHGG —%
NNI —%
SMRT —%
CHPT —%
CBL —%
GPMT —%
RGR —%
PRSU —%
View SEC EDGAR Filings for STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms