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Asset Manager ← All Institutions

Employees Retirement System of Texas

Q2 2025 · Filed 2025-08-13
Market Value
$12.2B
+11.0%
Holdings
556
+222
New Purchases
302
Added To
76
Closed
40
Reduced
91
Top 10 Concentration
42.3%
Turnover
61.5%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
GOOG 1.87% 0.00% +1.87% $229M
NVDA 4.87% 3.73% +1.14% $595M
MSFT 5.21% 4.19% +1.01% $636M
BAC 0.89% 0.00% +0.89% $109M
HD 0.67% 0.00% +0.67% $82M
META 2.63% 1.96% +0.67% $322M
PANW 1.24% 0.60% +0.64% $152M
MNST 0.56% 0.00% +0.56% $68M
VEA 3.12% 2.60% +0.52% $381M
AVGO 1.86% 1.35% +0.51% $227M
ANET 0.50% 0.00% +0.50% $61M
NFLX 1.31% 0.97% +0.33% $160M
AMZN 3.16% 2.86% +0.31% $387M
VRT 0.67% 0.43% +0.24% $82M
O 0.21% 0.00% +0.21% $26M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
RSP 0.00% 4.14% -4.14% $0
SPY 0.00% 1.36% -1.36% $0
VGIT 11.68% 12.88% -1.20% $1.4B
ACN 0.00% 0.53% -0.53% $0
VRTX 0.00% 0.53% -0.53% $0
LOW 0.01% 0.48% -0.48% $1M
RCL 0.00% 0.46% -0.46% $0
TDG 0.36% 0.75% -0.39% $44M
CRWD 0.04% 0.42% -0.37% $5M
LLY 1.28% 1.64% -0.35% $157M
HYLB 3.85% 4.18% -0.33% $470M
UNH 0.74% 1.05% -0.31% $90M
SLB 0.33% 0.58% -0.25% $40M
TOL 0.00% 0.24% -0.24% $0
JPM 1.46% 1.64% -0.19% $178M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 46 $5.4B 44.2%
Large Cap 355 $6.0B 48.8%
Mid Cap 127 $790M 6.5%
Small Cap 28 $58M 0.5%

Portfolio Analytics

Avg Market Cap
$120.8B
Median Market Cap
$23.1B
Avg P/E
32.0
Median P/E
23.3
Avg Dividend Yield
0.03%
Avg Beta
0.96
# Stocks
548
# ETFs / Funds
8

Top Holdings (556 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 VGIT 11.68% 23,875,000 $1.4B $59.81 $10M
2 MSFT 5.21% 1,279,514 $636M $497.41 $175M +49,085 +4.0%
3 NVDA 4.87% 3,768,129 $595M $157.99 $184M -25,509 -0.7%
4 AAPL 4.05% 2,414,514 $495M $205.17 $61M +458,683 +23.4%
5 HYLB 3.85% 12,732,000 $470M $36.92 $10M
6 AMZN 3.16% 1,762,977 $387M $219.39 $72M +108,333 +6.5%
7 VEA 3.12% 6,687,831 $381M $57.01 $95M +1,057,870 +18.8%
8 META 2.63% 435,738 $322M $738.09 $105M +60,716 +16.2%
9 GOOG 1.87% 1,288,320 $229M $177.39 +1,288,320 NEW
10 AVGO 1.86% 823,030 $227M $275.65 $79M -63,000 -7.1%
11 MA 1.51% 329,492 $185M $561.94 $20M +27,433 +9.1%
12 JPM 1.46% 614,600 $178M $289.91 -$3M -122,900 -16.7%
13 NFLX 1.31% 119,355 $160M $1,339.13 $53M +4,309 +3.8%
14 LLY 1.28% 201,300 $157M $779.53 -$23M -17,056 -7.8%
15 PANW 1.24% 743,245 $152M $204.64 $86M +356,071 +92.0%
16 TSLA 1.07% 410,356 $130M $317.66 $21M -11,000 -2.6%
17 KO 1.00% 1,735,949 $123M $70.75 $7M +121,949 +7.6%
18 XOM 0.99% 1,123,213 $121M $107.80 -$5M +59,260 +5.6%
19 WMT 0.97% 1,208,400 $118M $97.78 $9M -33,500 -2.7%
20 PLD 0.95% 1,106,209 $116M $105.12 $5M +113,771 +11.5%
21 BAC 0.89% 2,306,333 $109M $47.32 +2,306,333 NEW
22 PH 0.88% 153,669 $107M $698.47 $11M -4,200 -2.7%
23 COST 0.85% 104,549 $103M $989.94 $5M
24 BKNG 0.84% 17,638 $102M $5,789.26 $30M +1,938 +12.3%
25 ICE 0.80% 530,214 $97M $183.47 $19M +79,314 +17.6%
26 UBER 0.78% 1,019,708 $95M $93.30 $25M +61,700 +6.4%
27 UNH 0.74% 289,960 $90M $311.97 -$26M +68,160 +30.7%
28 MELI 0.73% 34,173 $89M $2,613.64 $31M +4,273 +14.3%
29 PG 0.72% 551,636 $88M $159.32 -$12M -31,921 -5.5%
30 GOOGL 0.71% 494,098 $87M $176.23 $15M +29,930 +6.5%
31 BA 0.71% 415,446 $87M $209.53 $30M +82,067 +24.6%
32 EQIX 0.69% 106,155 $84M $795.47 -$4M -1,764 -1.6%
33 HD 0.67% 224,951 $82M $366.64 +224,951 NEW
34 HIG 0.67% 647,747 $82M $126.87 $110K -15,553 -2.3%
35 VRT 0.67% 636,355 $82M $128.41 $35M -14,678 -2.2%
36 TMUS 0.66% 340,263 $81M $238.26 -$11M -5,374 -1.6%
37 SYK 0.65% 201,800 $80M $395.63 $21M +43,600 +27.6%
38 DIS 0.65% 641,858 $80M $124.01 $18M +15,524 +2.5%
39 TJX 0.62% 611,960 $76M $123.49 $9M +67,460 +12.4%
40 AZO 0.61% 20,136 $75M $3,712.21 -$8M -1,664 -7.6%
41 NOW 0.60% 71,492 $73M $1,028.07 $8M -11,180 -13.5%
42 MSI 0.60% 173,968 $73M $420.46 -$4M -3,360 -1.9%
43 SCHW 0.59% 788,797 $72M $91.24 $10M -8,203 -1.0%
44 XBI 0.58% 853,372 $71M $82.93 $442K -13,800 -1.6%
45 WEC 0.58% 677,533 $71M $104.20 $5M +71,143 +11.7%
46 FCX 0.57% 1,602,416 $69M $43.35 $17M +218,214 +15.8%
47 CDNS 0.56% 223,446 $69M $308.15 $10M -6,100 -2.7%
48 AJG 0.56% 214,600 $69M $320.12 -$7M -5,900 -2.7%
49 MNST 0.56% 1,089,652 $68M $62.64 +1,089,652 NEW
50 MNDY 0.55% 212,064 $67M $314.48 $14M -5,800 -2.7%
51 WM 0.53% 282,278 $65M $228.82 -$699K +260 +0.1%
52 ETN 0.53% 179,933 $64M $356.99 -$4M -71,549 -28.4%
53 ZTS 0.52% 408,020 $64M $155.95 $1M +30,620 +8.1%
54 AXP 0.52% 198,200 $63M $318.98 $8M -5,400 -2.6%
55 MU 0.51% 504,144 $62M $123.25 $17M -13,900 -2.7%
56 ANET 0.50% 597,844 $61M $102.31 +597,844 NEW
57 NEM 0.50% 1,049,119 $61M $58.26 $244K -211,823 -16.8%
58 LPLA 0.50% 163,000 $61M $374.97 -$4M -34,600 -17.5%
59 NXPI 0.50% 279,722 $61M $218.49 $7M -7,600 -2.6%
60 BSX 0.49% 559,851 $60M $107.41 $665K -29,649 -5.0%
61 VTR 0.49% 941,704 $59M $63.15 -$7M -25,325 -2.6%
62 MS 0.49% 421,200 $59M $140.86 $9M -11,600 -2.7%
63 CL 0.48% 645,221 $59M $90.90 $303K +22,509 +3.6%
64 SBAC 0.47% 244,965 $58M $234.84 $3M -4,584 -1.8%
65 DHR 0.47% 290,522 $57M $197.54 -$2M +622 +0.2%
66 FITB 0.46% 1,379,100 $57M $41.13 $1M -38,300 -2.7%
67 TMO 0.46% 139,394 $57M $405.46 -$12M +894 +0.7%
68 CMG 0.46% 996,912 $56M $56.15 $6M +8,412 +0.8%
69 ALLY 0.46% 1,434,083 $56M $38.95 $2M -38,017 -2.6%
70 MCK 0.44% 73,849 $54M $732.78 -$599K -7,451 -9.2%
71 LNG 0.44% 222,073 $54M $243.52 $1M -6,100 -2.7%
72 DDOG 0.44% 401,711 $54M $134.33 $18M +43,867 +12.3%
73 VB 0.44% 226,425 $54M $236.98 $3M
74 ET 0.43% 2,911,657 $53M $18.13 $8M +527,233 +22.1%
75 FMX 0.40% 480,355 $49M $102.98 $2M -3,594 -0.7%
76 ETR 0.40% 592,564 $49M $83.12 -$13M -134,077 -18.4%
77 MDLZ 0.40% 723,777 $49M $67.44 -$902K -8,923 -1.2%
78 NI 0.40% 1,199,262 $48M $40.34 -$11M -284,299 -19.2%
79 ODFL 0.39% 292,219 $47M $162.30 $2M +19,000 +7.0%
80 WELL 0.38% 305,591 $47M $153.73 -$1M -7,916 -2.5%
81 KKR 0.38% 348,700 $46M $133.03 $5M -9,600 -2.7%
82 TDG 0.36% 28,949 $44M $1,520.64 -$39M -30,980 -51.7%
83 SLB 0.33% 1,195,407 $40M $33.80 -$23M -324,378 -21.3%
84 PM 0.32% 215,596 $39M $182.13 $12M +44,624 +26.1%
85 ICLR 0.26% 219,700 $32M $145.45 -$7M -3,500 -1.6%
86 O 0.21% 446,183 $26M $57.61 +446,183 NEW
87 BRBR 0.21% 440,410 $26M $57.93 -$8M -10,290 -2.3%
88 T 0.21% 877,572 $25M $28.94 $2M +58,113 +7.1%
89 IBB 0.20% 198,000 $25M $126.51 +198,000 NEW
90 SPG 0.20% 154,442 $25M $160.76 -$3M -10,500 -6.4%
91 DLR 0.20% 141,999 $25M $174.33 $1M -21,000 -12.9%
92 ADBE 0.16% 51,671 $20M $386.87 +51,671 NEW
93 PSA 0.16% 68,083 $20M $293.42 -$6M -17,100 -20.1%
94 CB 0.16% 68,462 $20M $289.72 -$594K +815 +1.2%
95 MO 0.15% 315,502 $18M $58.63 $8M +136,604 +76.4%
96 VZ 0.15% 414,240 $18M $43.27 $1M +41,664 +11.2%
97 PGR 0.13% 60,217 $16M $266.87 -$782K +673 +1.1%
98 EXR 0.13% 106,507 $16M $147.44 -$409K -2,000 -1.8%
99 AEP 0.12% 141,935 $15M $103.76 -$782K
100 VICI 0.12% 451,577 $15M $32.60 -$2M -55,771 -11.0%

New Positions

SymbolValue% Port
GOOG $229M 1.87%
BAC $109M 0.89%
HD $82M 0.67%
MNST $68M 0.56%
ANET $61M 0.50%
O $26M 0.21%
IBB $25M 0.20%
ADBE $20M 0.16%
TSM $12M 0.10%
GLOB $12M 0.10%
CME $12M 0.10%
APH $11M 0.09%
MRK $9M 0.08%
RE $9M 0.08%
ESS $9M 0.08%

Sold Out Positions

SymbolValue% Port
AMP —%
ACN —%
CVX —%
HR —%
ESRT —%
TRGP —%
GE —%
CSR —%
BCS —%
DB —%
KRC —%
LTC —%
ALC —%
TAK —%
KRG —%
View SEC EDGAR Filings for Employees Retirement System of Texas →

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