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Asset Manager ← All Institutions

Employees Retirement System of Texas

Q4 2025 · Filed 2026-02-09
Market Value
$12.2B
-1.8%
Holdings
563
-34
New Purchases
62
Added To
88
Closed
71
Reduced
126
Top 10 Concentration
43.8%
Turnover
23.6%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
VOO 2.07% 0.00% +2.07% $253M
AMD 0.69% 0.00% +0.69% $84M
GOOG 2.98% 2.41% +0.57% $365M
LLY 1.60% 1.14% +0.46% $196M
SPOT 0.48% 0.02% +0.46% $58M
AME 0.44% 0.00% +0.44% $54M
AMZN 3.66% 3.23% +0.43% $447M
GOOGL 1.28% 0.90% +0.38% $156M
NEM 1.13% 0.76% +0.37% $138M
TT 0.37% 0.01% +0.36% $45M
FCX 0.85% 0.50% +0.35% $104M
AVGO 2.39% 2.05% +0.34% $292M
FAST 0.38% 0.05% +0.33% $46M
TOST 0.32% 0.00% +0.32% $40M
ISRG 0.36% 0.04% +0.31% $44M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
VEA 0.92% 3.22% -2.30% $112M
NFLX 0.43% 1.11% -0.68% $53M
VGIT 10.89% 11.52% -0.63% $1.3B
MNDY 0.00% 0.59% -0.59% $0
KKR 0.00% 0.56% -0.56% $0
CL 0.02% 0.58% -0.56% $2M
HUBS 0.00% 0.53% -0.53% $187K
BA 0.34% 0.82% -0.48% $41M
VB 0.00% 0.46% -0.46% $0
DIS 0.14% 0.59% -0.45% $17M
META 2.10% 2.54% -0.44% $257M
HYLB 3.43% 3.80% -0.37% $419M
UBER 0.53% 0.90% -0.37% $65M
MDLZ 0.00% 0.36% -0.36% $0
ICLR 0.02% 0.32% -0.30% $2M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 48 $6.0B 48.8%
Large Cap 359 $5.7B 46.3%
Mid Cap 137 $576M 4.7%
Small Cap 17 $19M 0.2%
Micro Cap 2 $1K 0.0%

Portfolio Analytics

Avg Market Cap
$123.8B
Median Market Cap
$23.2B
Avg P/E
31.8
Median P/E
23.0
Avg Dividend Yield
0.02%
Avg Beta
0.99
# Stocks
550
# ETFs / Funds
13

Top Holdings (563 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 VGIT 10.89% 22,211,000 $1.3B $59.93 -$102M -1,664,000 -7.0%
2 MSFT 5.65% 1,427,610 $690M $483.62 $26M +144,040 +11.2%
3 NVDA 5.59% 3,662,968 $683M $186.50 -$12M -62,526 -1.7%
4 AAPL 5.05% 2,268,191 $617M $271.86 -$4M -171,082 -7.0%
5 AMZN 3.66% 1,935,809 $447M $230.82 $45M +106,471 +5.8%
6 HYLB 3.43% 11,372,000 $419M $36.83 -$54M -1,360,000 -10.7%
7 GOOG 2.98% 1,161,911 $365M $313.80 $65M -69,209 -5.6%
8 AVGO 2.39% 844,380 $292M $346.10 $37M +69,948 +9.0%
9 META 2.10% 389,372 $257M $660.09 -$59M -41,379 -9.6%
10 VOO 2.07% 403,400 $253M $627.13 +403,400 NEW
11 MA 1.79% 382,078 $218M $570.88 -$3M -5,977 -1.5%
12 LLY 1.60% 182,100 $196M $1,074.68 $54M -3,200 -1.7%
13 TSLA 1.47% 399,856 $180M $449.72 -$1M -6,900 -1.7%
14 JPM 1.43% 541,000 $174M $322.22 $614K -9,700 -1.8%
15 GOOGL 1.28% 499,980 $156M $313.00 $45M +39,908 +8.7%
16 XOM 1.23% 1,245,746 $150M $120.34 $15M +47,838 +4.0%
17 NEM 1.13% 1,380,471 $138M $99.85 $43M +254,953 +22.6%
18 BAC 1.11% 2,469,085 $136M $55.00 $4M -93,436 -3.6%
19 WMT 1.02% 1,123,700 $125M $111.41 $7M -20,100 -1.8%
20 PANW 1.00% 661,826 $122M $184.20 $13M +127,570 +23.9%
21 PH 0.96% 133,236 $117M $878.96 $14M -2,300 -1.7%
22 KO 0.93% 1,629,273 $114M $69.91 $7M +13,291 +0.8%
23 VEA 0.92% 1,798,331 $112M $62.47 -$288M -4,889,500 -73.1%
24 COST 0.90% 126,915 $109M $862.34 $18M +28,566 +29.1%
25 FCX 0.85% 2,050,591 $104M $50.79 $42M +459,214 +28.9%
26 XLI 0.84% 662,800 $103M $155.12 $5M +31,800 +5.0%
27 TMO 0.83% 175,555 $102M $579.45 $35M +36,974 +26.7%
28 UNH 0.81% 299,560 $99M $330.11 $429K +14,419 +5.1%
29 HD 0.78% 275,875 $95M $344.10 -$19M -4,287 -1.5%
30 DHR 0.78% 414,438 $95M $228.92 $32M +96,700 +30.4%
31 MSI 0.74% 236,262 $91M $383.32 $9M +57,593 +32.2%
32 CDNS 0.74% 287,581 $90M $312.58 -$14K +31,628 +12.4%
33 SCHW 0.73% 890,067 $89M $99.91 $1M -27,283 -3.0%
34 TJX 0.73% 578,729 $89M $153.61 $4M -9,200 -1.6%
35 XBI 0.72% 725,272 $88M $121.93 $14M -13,000 -1.8%
36 ANET 0.72% 668,391 $88M $131.03 $1M +75,847 +12.8%
37 MS 0.70% 482,500 $86M $177.53 $19M +65,100 +15.6%
38 AMD 0.69% 391,075 $84M $214.16 +391,075 NEW
39 MDT 0.68% 862,697 $83M $96.06 -$2M -28,535 -3.2%
40 MELI 0.66% 40,184 $81M $2,014.26 $2M +6,200 +18.2%
41 FITB 0.66% 1,714,700 $80M $46.81 $3M -30,700 -1.8%
42 NOW 0.63% 505,757 $77M $153.19 -$10M +410,188 +429.2%
43 ICE 0.62% 466,514 $76M $161.96 -$13M -59,700 -11.3%
44 ALLY 0.62% 1,666,846 $75M $45.29 $9M -29,800 -1.8%
45 AXP 0.58% 193,000 $71M $369.95 $6M -3,400 -1.7%
46 WEC 0.57% 659,533 $70M $105.46 -$7M -11,800 -1.8%
47 SYK 0.57% 197,000 $69M $351.47 -$5M -3,200 -1.6%
48 HIG 0.56% 495,607 $68M $137.80 $1M -8,240 -1.6%
49 VTR 0.56% 881,026 $68M $77.38 $6M -1,997 -0.2%
50 AZO 0.55% 19,777 $67M $3,391.52 -$19M -300 -1.5%
51 MNST 0.54% 865,049 $66M $76.67 $7M -14,526 -1.6%
52 BSX 0.54% 687,751 $66M $95.35 $11M +132,800 +23.9%
53 ETR 0.54% 707,275 $65M $92.43 -$2M -12,600 -1.8%
54 UBER 0.53% 794,550 $65M $81.71 -$47M -344,402 -30.2%
55 LPLA 0.52% 176,200 $63M $357.17 $9M +14,700 +9.1%
56 TMUS 0.50% 299,836 $61M $203.04 -$12M -4,500 -1.5%
57 EQIX 0.49% 78,439 $60M $766.16 -$2M -249 -0.3%
58 PLD 0.48% 462,067 $59M $127.66 $5M -8,200 -1.7%
59 WM 0.48% 267,218 $59M $219.71 -$2M -8,543 -3.1%
60 SPOT 0.48% 100,209 $58M $580.71 $56M +96,853 +2886.0%
61 MCK 0.46% 68,117 $56M $820.29 $2M -1,100 -1.6%
62 ETN 0.46% 175,233 $56M $318.51 -$11M -3,100 -1.7%
63 TDG 0.44% 40,587 $54M $1,329.86 -$442K -700 -1.7%
64 AME 0.44% 262,148 $54M $205.31 +262,148 NEW
65 NXPI 0.44% 245,181 $53M $217.06 -$16M -58,341 -19.2%
66 NFLX 0.43% 562,728 $53M $93.76 -$85M +447,839 +389.8%
67 ZTS 0.41% 398,709 $50M $125.82 -$9M -7,000 -1.7%
68 FMX 0.41% 493,602 $50M $101.07 -$819K -20,515 -4.0%
69 ET 0.38% 2,834,057 $47M $16.49 -$3M -50,800 -1.8%
70 FAST 0.38% 1,146,011 $46M $40.13 $40M +1,015,811 +780.2%
71 AJG 0.37% 174,000 $45M $258.79 -$10M -3,100 -1.8%
72 ODFL 0.37% 285,219 $45M $156.80 $4M -4,600 -1.6%
73 TT 0.37% 114,774 $45M $389.20 $44M +112,959 +6223.6%
74 SLB 0.37% 1,163,607 $45M $38.38 $4M -20,800 -1.8%
75 VRT 0.36% 273,879 $44M $162.01 -$29M -215,231 -44.0%
76 GEHC 0.36% 535,700 $44M $82.02 -$8M -159,300 -22.9%
77 ISRG 0.36% 76,841 $44M $566.36 $38M +65,179 +558.9%
78 LNG 0.34% 216,273 $42M $194.39 -$10M -3,800 -1.7%
79 BA 0.34% 189,201 $41M $217.12 -$61M -283,400 -60.0%
80 TOST 0.32% 1,114,408 $40M $35.51 $39M +1,109,600 +23078.2%
81 PSA 0.31% 147,650 $38M $259.50 -$5M -2,600 -1.7%
82 WSO 0.31% 112,601 $38M $336.95 $36M +106,883 +1869.2%
83 DXCM 0.31% 570,600 $38M $66.37 +570,600 NEW
84 NI 0.30% 877,729 $37M $41.76 -$2M -15,700 -1.8%
85 ADBE 0.26% 89,675 $31M $349.99 -$248K
86 APH 0.25% 223,954 $30M $135.14 -$1M -30,700 -12.1%
87 PAAA 0.21% 500,000 $26M $51.26 +500,000 NEW
88 IAU 0.16% 244,500 $20M $81.17 +244,500 NEW
89 PM 0.15% 117,747 $19M $160.40 -$11M -69,135 -37.0%
90 DIS 0.14% 150,623 $17M $113.77 -$56M -485,635 -76.3%
91 FET 0.13% 441,787 $16M $36.95 $5M
92 ASML 0.13% 14,539 $16M $1,069.88 $16M +14,489 +28978.0%
93 LVS 0.12% 221,950 $14M $65.09 $3M +15,352 +7.4%
94 CRM 0.11% 51,715 $14M $264.91 $4M +12,642 +32.4%
95 TSM 0.11% 43,500 $13M $303.89 -$410K -5,300 -10.9%
96 BMY 0.11% 244,257 $13M $53.94 $2M
97 LRCX 0.11% 75,560 $13M $171.18 $3M
98 MRK 0.10% 116,454 $12M $105.26 $2M
99 BKNG 0.10% 2,238 $12M $5,355.23 -$99K
100 CB 0.10% 37,932 $12M $312.11 -$6M -25,064 -39.8%

New Positions

SymbolValue% Port
VOO $253M 2.07%
AMD $84M 0.69%
AME $54M 0.44%
DXCM $38M 0.31%
PAAA $26M 0.21%
IAU $20M 0.16%
EMXC $10M 0.08%
MU $4M 0.03%
AFL $4M 0.03%
BRK-B $2M 0.02%
VALE $2M 0.02%
TECK $2M 0.02%
GFI $2M 0.02%
MDLN $2M 0.01%
NU $2M 0.01%

Sold Out Positions

SymbolValue% Port
ESTC —%
ACI —%
HMC —%
PB —%
DINO —%
BRX —%
AFG —%
TPB —%
IVZ —%
ARE —%
INSP —%
GPC —%
VICI —%
CHWY —%
HII —%
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