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State of New Jersey Common Pension Fund D

50 WEST STATE STREET 9TH FLOOR PO BOX 290, TRENTON, NJ 08625 • 609 292 5106

Q1 2026 · Filed 2026-05-05
Market Value
$25.8B
-6.3%
Holdings
1,562
+51
New Purchases
124
Added To
414
Closed
46
Reduced
492
Top 10 Concentration
30.5%
Turnover
10.9%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
XOM 0.95% 0.64% +0.31% $246M
VNQ 2.95% 2.76% +0.19% $763M
CVX 0.53% 0.37% +0.16% $136M
JNJ 0.78% 0.62% +0.16% $201M
WMT 0.73% 0.61% +0.12% $188M
COST 0.59% 0.48% +0.11% $152M
AMAT 0.36% 0.25% +0.11% $93M
CAT 0.44% 0.33% +0.11% $114M
MU 0.50% 0.40% +0.11% $130M
PBR-A 0.14% 0.04% +0.10% $35M
FLHY 0.09% 0.00% +0.09% $24M
GEV 0.32% 0.22% +0.09% $81M
LRCX 0.36% 0.27% +0.09% $93M
PYLD 0.23% 0.15% +0.08% $59M
SCZ 1.12% 1.04% +0.08% $290M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
IEMG 3.37% 5.50% -2.14% $869M
MSFT 3.46% 4.23% -0.77% $893M
TSLA 1.39% 1.58% -0.18% $359M
SPHY 0.14% 0.31% -0.16% $37M
SJNK 0.04% 0.18% -0.15% $10M
USHY 0.11% 0.26% -0.14% $29M
META 1.65% 1.78% -0.13% $426M
SHYG 0.04% 0.16% -0.11% $11M
LLY 0.98% 1.07% -0.09% $253M
AMZN 2.65% 2.75% -0.09% $685M
CRM 0.23% 0.31% -0.08% $60M
AVGO 1.85% 1.92% -0.08% $477M
ORCL 0.34% 0.41% -0.08% $87M
APP 0.12% 0.19% -0.07% $31M
INTU 0.16% 0.23% -0.07% $41M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Technology 26.5%
Financial Services 24.1%
Consumer Cyclical 8.6%
Healthcare 8.2%
Communication Services 8.2%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 55 $11.8B 45.6%
Large Cap 692 $11.6B 44.9%
Mid Cap 639 $2.0B 7.7%
Small Cap 166 $455M 1.8%
Micro Cap 10 $13M 0.1%

Portfolio Analytics

Avg Market Cap
$52.9B
Median Market Cap
$9.4B
Avg P/E
34.3
Median P/E
22.5
Avg Dividend Yield
0.02%
Avg Beta
1.04
# Stocks
1,535
# ETFs / Funds
27

Top Holdings (1,562 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 NVDA 5.61% 8,306,536 $1.4B $174.40 -$99M +10,130 +0.1%
2 AAPL 4.94% 5,024,674 $1.3B $253.79 -$102M -42,967 -0.8%
3 MSFT 3.46% 2,412,562 $893M $370.17 -$273M +2,341 +0.1%
4 IEMG 3.37% 12,458,692 $869M $69.75 -$648M -10,102,316 -44.8%
5 VNQ 2.95% 8,598,869 $763M $88.70 $2M
6 AMZN 2.65% 3,290,326 $685M $208.27 -$72M +10,864 +0.3%
7 GOOGL 2.21% 1,986,061 $571M $287.56 -$51M
8 GOOG 1.85% 1,668,382 $479M $286.86 -$45M -1,122 -0.1%
9 AVGO 1.85% 1,539,815 $477M $309.51 -$54M +7,967 +0.5%
10 META 1.65% 744,627 $426M $572.13 -$63M +3,543 +0.5%
11 TSLA 1.39% 966,609 $359M $371.75 -$75M +836 +0.1%
12 REET 1.15% 11,787,000 $296M $25.15 $2M
13 SCZ 1.12% 3,702,826 $290M $78.41 $3M
14 JPM 1.06% 934,681 $275M $294.16 -$28M -7,046 -0.8%
15 INDA 1.03% 5,656,487 $265M $46.84 -$3M +690,492 +13.9%
16 LLY 0.98% 274,628 $253M $919.77 -$43M -454 -0.2%
17 XOM 0.95% 1,447,521 $246M $169.66 $70M -13,028 -0.9%
18 BRK-B 0.88% 473,358 $227M $479.20 -$11M
19 VSS 0.85% 1,512,875 $221M $145.79 $4M
20 JNJ 0.78% 823,394 $201M $244.44 $30M -4,908 -0.6%
21 WMT 0.73% 1,512,800 $188M $124.28 $19M -1,808 -0.1%
22 V 0.68% 578,635 $175M $302.24 -$30M -5,270 -0.9%
23 COST 0.59% 152,279 $152M $996.43 $21M +99 +0.1%
24 MA 0.56% 291,067 $145M $499.66 -$22M -2,693 -0.9%
25 NFLX 0.54% 1,451,942 $140M $96.15 $3M -2,041 -0.1%
26 CVX 0.53% 656,841 $136M $206.90 $35M -5,142 -0.8%
27 ABBV 0.51% 604,016 $131M $217.49 -$7M +98 +0.0%
28 MU 0.50% 384,975 $130M $337.84 $21M +1,124 +0.3%
29 PG 0.45% 805,866 $116M $144.44 $1M +3,564 +0.4%
30 BAC 0.45% 2,357,682 $115M $48.75 -$18M -55,261 -2.3%
31 PLTR 0.44% 781,318 $114M $146.28 -$24M +4,251 +0.6%
32 CAT 0.44% 160,968 $114M $708.46 $22M
33 AMD 0.44% 556,997 $113M $203.43 -$5M +2,390 +0.4%
34 HD 0.44% 342,032 $112M $328.89 -$5M
35 KO 0.41% 1,408,819 $107M $76.05 $9M
36 CSCO 0.41% 1,352,884 $105M $77.59 $791K +430 +0.0%
37 WELL 0.40% 525,200 $104M $197.71 $10M +21,875 +4.3%
38 GE 0.40% 362,451 $103M $283.77 -$9M -12
39 MRK 0.40% 848,249 $102M $120.29 $11M -11,986 -1.4%
40 IWM 0.39% 402,418 $100M $248.00 $740K
41 PLD 0.38% 745,910 $99M $132.18 $3M
42 AMAT 0.36% 272,739 $93M $341.79 $23M +554 +0.2%
43 LRCX 0.36% 433,107 $93M $213.66 $18M +234 +0.1%
44 PM 0.34% 534,456 $88M $165.34 $3M
45 RTX 0.34% 458,065 $88M $192.90 $4M +39 +0.0%
46 GS 0.34% 103,328 $87M $845.99 -$4M -720 -0.7%
47 ORCL 0.34% 589,447 $87M $147.11 -$27M +4,547 +0.8%
48 IGEB 0.34% 1,921,932 $87M $45.06 -$1M
49 WFC 0.33% 1,078,514 $86M $79.61 -$16M -16,967 -1.6%
50 UNH 0.32% 309,110 $84M $270.59 -$18M
51 GEV 0.32% 93,177 $81M $872.90 $20M -282 -0.3%
52 LIN 0.31% 159,540 $79M $495.76 $10M -2,218 -1.4%
53 EQIX 0.30% 79,449 $78M $980.24 $17M
54 IBM 0.30% 319,452 $77M $242.39 -$17M +907 +0.3%
55 MCD 0.29% 244,002 $76M $310.79 $1M -305 -0.1%
56 PHYL 0.29% 2,175,000 $75M $34.63 $14M +450,000 +26.1%
57 PEP 0.28% 471,068 $73M $155.29 $6M
58 VZ 0.28% 1,434,953 $72M $50.20 $14M
59 T 0.27% 2,430,617 $70M $28.99 $10M -16,538 -0.7%
60 C 0.27% 615,945 $70M $113.41 -$4M -12,970 -2.1%
61 INTC 0.26% 1,546,539 $68M $44.13 $11M
62 MS 0.26% 411,261 $68M $164.57 -$6M -2,455 -0.6%
63 KLAC 0.26% 45,237 $67M $1,472.41 $12M +241 +0.5%
64 NEE 0.25% 708,215 $66M $92.88 $9M
65 AMGN 0.25% 184,030 $65M $351.85 $5M +36 +0.0%
66 HDB 0.25% 2,572,504 $64M $24.88 -$23M +188,091 +7.9%
67 TMO 0.25% 129,235 $64M $491.53 -$11M
68 ABT 0.24% 595,877 $61M $102.67 -$14M -1,622 -0.3%
69 TJX 0.23% 377,907 $60M $159.70 $2M -1,074 -0.3%
70 TXN 0.23% 310,567 $60M $194.14 $6M
71 CRM 0.23% 320,996 $60M $186.67 -$26M -3,883 -1.2%
72 GILD 0.23% 424,011 $59M $139.37 $7M +44 +0.0%
73 PYLD 0.23% 2,250,000 $59M $26.20 $19M +750,000 +50.0%
74 DIS 0.23% 611,164 $59M $96.38 -$11M -3,640 -0.6%
75 AXP 0.22% 190,050 $57M $302.48 -$13M -1,155 -0.6%
76 ISRG 0.22% 122,286 $56M $460.99 -$13M -441 -0.4%
77 COP 0.22% 423,807 $56M $132.00 $16M -7,835 -1.8%
78 SCHW 0.21% 580,642 $55M $93.98 -$5M -13,003 -2.2%
79 PFE 0.21% 1,943,131 $55M $28.08 $6M -22,286 -1.1%
80 BA 0.21% 269,256 $54M $199.03 -$5M -2,373 -0.9%
81 ADI 0.21% 167,191 $53M $318.14 $8M
82 APH 0.21% 420,734 $53M $126.35 -$4M
83 MELI 0.20% 30,145 $52M $1,729.02 -$6M +1,088 +3.7%
84 DLR 0.20% 286,684 $52M $180.21 $9M +9,350 +3.4%
85 DE 0.19% 88,631 $50M $563.30 $9M -303 -0.3%
86 BAP 0.19% 146,298 $50M $339.18 $2M -18,770 -11.4%
87 UNP 0.19% 203,533 $49M $242.62 $2M
88 UBER 0.19% 679,722 $49M $71.93 -$7M
89 HON 0.19% 216,222 $49M $226.03 $7M
90 BLK 0.19% 50,662 $49M $961.71 -$6M
91 ETN 0.19% 134,192 $48M $357.67 $5M
92 SPG 0.19% 256,487 $48M $186.53 $364K
93 QCOM 0.18% 364,449 $47M $128.78 -$16M -2,246 -0.6%
94 BKNG 0.18% 10,990 $46M $4,210.32 -$13M -50 -0.5%
95 SPIB 0.18% 1,355,766 $45M $33.54 -$11M -300,000 -18.1%
96 SPGI 0.18% 106,749 $45M $425.34 -$11M -487 -0.5%
97 LOW 0.18% 192,055 $45M $236.28 -$937K
98 ANET 0.17% 367,749 $45M $122.78 -$3M +1,392 +0.4%
99 LQD 0.17% 410,991 $45M $108.99 -$12M -100,000 -19.6%
100 PANW 0.17% 276,699 $44M $160.32 $2M +47,543 +20.8%

New Positions

SymbolValue% Port
FLHY $24M 0.09%
EMLC $13M 0.05%
GLOB $11M 0.04%
KT $10M 0.04%
IREN $4M 0.01%
VIST $3M 0.01%
SM $3M 0.01%
VSNTV $3M 0.01%
WLK $3M 0.01%
OLN $3M 0.01%
KGS $3M 0.01%
CENX $3M 0.01%
CC $2M 0.01%
LBRT $2M 0.01%
VICR $2M 0.01%

Sold Out Positions

SymbolValue% Port
CBZ —%
KVYO —%
DK —%
DOLE —%
BRBR —%
CNK —%
CHH —%
PNFP —%
OSCR —%
SMR —%
MAN —%
VLN —%
CLSK —%
FRSH —%
MLCO —%
View SEC EDGAR Filings for State of New Jersey Common Pension Fund D →

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