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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

Q3 2025 · Filed 2025-11-07
Market Value
$27.1B
+5.4%
Holdings
1,497
-5
New Purchases
50
Added To
1,008
Closed
65
Reduced
261
Top 10 Concentration
34.0%
Turnover
7.7%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AAPL 4.90% 4.04% +0.86% $1.3B
NVDA 5.86% 5.05% +0.81% $1.6B
IEMG 5.50% 4.89% +0.60% $1.5B
GOOGL 1.82% 1.35% +0.48% $493M
TSLA 1.66% 1.21% +0.46% $450M
GOOG 1.54% 1.15% +0.39% $417M
AVGO 1.90% 1.61% +0.29% $514M
PLTR 0.53% 0.38% +0.15% $144M
ORCL 0.62% 0.48% +0.13% $167M
MSFT 4.71% 4.60% +0.11% $1.3B
USHY 0.17% 0.06% +0.11% $45M
APP 0.21% 0.11% +0.11% $58M
ABBV 0.53% 0.43% +0.10% $143M
JNJ 0.58% 0.48% +0.09% $156M
CVX 0.39% 0.31% +0.08% $107M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
VTI 0.00% 4.16% -4.16% $0
INDA 0.97% 1.50% -0.53% $263M
SHYG 0.30% 0.40% -0.10% $82M
NFLX 0.66% 0.75% -0.09% $178M
JBBB 0.00% 0.09% -0.09% $0
LONZ 0.08% 0.17% -0.08% $23M
VNQ 2.90% 2.98% -0.08% $786M
CLOZ 0.03% 0.10% -0.07% $8M
META 2.05% 2.12% -0.06% $556M
HES 0.00% 0.05% -0.05% $0
V 0.76% 0.81% -0.05% $205M
HDB 0.30% 0.35% -0.05% $81M
CRM 0.29% 0.34% -0.05% $79M
ISRG 0.21% 0.26% -0.05% $56M
ACN 0.20% 0.25% -0.05% $54M

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 56 $12.3B 45.6%
Large Cap 684 $12.3B 45.6%
Mid Cap 607 $1.9B 7.1%
Small Cap 139 $447M 1.7%
Micro Cap 11 $13M 0.0%

Portfolio Analytics

Avg Market Cap
$55.4B
Median Market Cap
$9.8B
Avg P/E
34.1
Median P/E
22.5
Avg Dividend Yield
0.02%
Avg Beta
1.02
# Stocks
1,471
# ETFs / Funds
26

Top Holdings (1,497 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 NVDA 5.86% 8,506,237 $1.6B $186.58 $290M +296,716 +3.6%
2 IEMG 5.50% 22,561,008 $1.5B $65.92 $231M +1,638,008 +7.8%
3 AAPL 4.90% 5,207,827 $1.3B $254.63 $289M +153,021 +3.0%
4 MSFT 4.71% 2,461,836 $1.3B $517.95 $93M +85,898 +3.6%
5 VNQ 2.90% 8,598,869 $786M $91.42 $20M
6 AMZN 2.71% 3,334,208 $732M $219.57 $27M +119,688 +3.7%
7 META 2.05% 757,242 $556M $734.38 $12M +20,204 +2.7%
8 AVGO 1.90% 1,558,145 $514M $329.91 $100M +55,310 +3.7%
9 GOOGL 1.82% 2,028,957 $493M $243.10 $147M +65,915 +3.4%
10 TSLA 1.66% 1,011,140 $450M $444.72 $140M +36,728 +3.8%
11 GOOG 1.54% 1,713,426 $417M $243.55 $122M +47,889 +2.9%
12 JPM 1.13% 971,546 $306M $315.43 $33M +27,565 +2.9%
13 SCZ 1.05% 3,702,826 $284M $76.72 $25M +142,269 +4.0%
14 INDA 0.97% 5,043,372 $263M $52.06 -$123M -1,886,374 -27.2%
15 BRK-B 0.88% 474,074 $238M $502.74 $19M +23,397 +5.2%
16 LLY 0.79% 281,265 $215M $763.00 $3M +9,544 +3.5%
17 V 0.76% 599,174 $205M $341.38 -$3M +15,699 +2.7%
18 NFLX 0.66% 148,863 $178M $1,198.92 -$15M +4,640 +3.2%
19 MA 0.63% 300,441 $171M $568.81 $15M +23,579 +8.5%
20 XOM 0.63% 1,509,858 $170M $112.75 $12M +43,009 +2.9%
21 ORCL 0.62% 592,363 $167M $281.24 $43M +25,595 +4.5%
22 WMT 0.59% 1,546,632 $159M $103.06 $13M +52,119 +3.5%
23 JNJ 0.58% 840,832 $156M $185.42 $31M +26,101 +3.2%
24 PLTR 0.53% 790,102 $144M $182.42 $46M +68,713 +9.5%
25 COST 0.53% 155,462 $144M $925.63 -$5M +5,301 +3.5%
26 ABBV 0.53% 617,051 $143M $231.54 $32M +21,810 +3.7%
27 HD 0.52% 349,904 $142M $405.19 $19M +14,455 +4.3%
28 BAC 0.48% 2,503,184 $129M $51.59 $15M +83,452 +3.5%
29 PG 0.47% 826,698 $127M $153.65 -$116K +28,692 +3.6%
30 GE 0.41% 371,884 $112M $300.82 $19M +11,488 +3.2%
31 UNH 0.41% 317,527 $110M $345.30 $13M +8,365 +2.7%
32 CVX 0.39% 688,113 $107M $155.29 $26M +124,702 +22.1%
33 IWM 0.36% 402,418 $97M $241.96 $11M
34 KO 0.35% 1,447,590 $96M $66.32 -$2M +64,623 +4.7%
35 CSCO 0.35% 1,392,301 $95M $68.42 $2M +49,556 +3.7%
36 SJNK 0.35% 3,689,415 $94M $25.60 $443K
37 WFC 0.35% 1,123,168 $94M $83.82 $6M +20,419 +1.9%
38 AMD 0.34% 566,098 $92M $161.79 $14M +20,589 +3.8%
39 IBM 0.34% 324,122 $91M $282.16 -$447K +12,361 +4.0%
40 PM 0.33% 546,056 $89M $162.20 -$7M +20,617 +3.9%
41 WELL 0.32% 484,908 $86M $178.14 $14M +16,156 +3.5%
42 PLD 0.32% 754,060 $86M $114.52 $9M +14,318 +1.9%
43 GS 0.32% 107,792 $86M $796.35 $11M +2,646 +2.5%
44 SHYG 0.30% 1,903,519 $82M $43.30 -$21M -500,000 -20.8%
45 SPHY 0.30% 3,416,858 $82M $23.94 $3M +100,000 +3.0%
46 ABT 0.30% 607,739 $81M $133.94 $2M +20,786 +3.5%
47 HDB 0.30% 2,369,307 $81M $34.16 -$9M +1,199,084 +102.5%
48 CRM 0.29% 334,716 $79M $237.00 -$9M +11,491 +3.6%
49 CAT 0.29% 165,677 $79M $477.15 $16M +4,010 +2.5%
50 LIN 0.29% 164,931 $78M $475.00 $3M +4,976 +3.1%
51 RTX 0.29% 466,824 $78M $167.33 $12M +16,189 +3.6%
52 MCD 0.28% 249,780 $76M $303.89 $5M +8,285 +3.4%
53 IGEB 0.28% 1,621,932 $75M $46.05 $981K
54 MRK 0.27% 878,529 $74M $83.93 $6M +28,474 +3.4%
55 MELI 0.27% 31,015 $72M $2,336.94 -$7M +612 +2.0%
56 DIS 0.27% 628,647 $72M $114.50 -$4M +18,607 +3.0%
57 T 0.26% 2,504,822 $71M $28.24 $2M +115,209 +4.8%
58 UBER 0.25% 695,135 $68M $97.97 $9M +58,933 +9.3%
59 PEP 0.25% 483,256 $68M $140.44 $7M +18,595 +4.0%
60 MS 0.25% 422,630 $67M $158.96 $10M +16,312 +4.0%
61 NOW 0.25% 72,694 $67M $920.28 -$5M +3,077 +4.4%
62 INTU 0.25% 97,769 $67M $682.91 -$8M +3,367 +3.6%
63 C 0.24% 643,885 $65M $101.50 $12M +12,042 +1.9%
64 MU 0.24% 390,392 $65M $167.32 $19M +14,728 +3.9%
65 AXP 0.24% 196,107 $65M $332.16 $4M +5,765 +3.0%
66 TMO 0.24% 132,248 $64M $485.02 $12M +4,324 +3.4%
67 VZ 0.24% 1,458,784 $64M $43.95 $4M +63,751 +4.6%
68 EQIX 0.23% 80,075 $63M $783.24 $307K +1,617 +2.1%
69 QCOM 0.23% 376,083 $63M $166.36 $4M +5,849 +1.6%
70 BKNG 0.23% 11,393 $62M $5,399.27 -$3M +270 +2.4%
71 LRCX 0.22% 450,862 $60M $133.90 $18M +17,493 +4.0%
72 BLK 0.22% 51,514 $60M $1,165.87 $8M +2,163 +4.4%
73 GEV 0.22% 96,165 $59M $614.90 $10M +3,275 +3.5%
74 TXN 0.22% 317,108 $58M $183.73 -$5M +12,199 +4.0%
75 APP 0.21% 80,851 $58M $718.54 $31M +2,486 +3.2%
76 SCHW 0.21% 604,519 $58M $95.47 $5M +22,543 +3.9%
77 AMAT 0.21% 281,383 $58M $204.74 $8M +7,796 +2.9%
78 LQD 0.21% 510,991 $57M $111.47 $950K
79 BA 0.21% 263,677 $57M $215.83 $4M +10,125 +4.0%
80 TJX 0.21% 389,753 $56M $144.54 $10M +12,684 +3.4%
81 SPIB 0.21% 1,655,766 $56M $33.89 $513K
82 ISRG 0.21% 125,131 $56M $447.23 -$10M +4,515 +3.7%
83 ANET 0.20% 374,890 $55M $145.71 $17M +10,011 +2.7%
84 NEE 0.20% 720,871 $54M $75.49 $6M +21,616 +3.1%
85 SPGI 0.20% 110,591 $54M $486.71 -$2M +4,059 +3.8%
86 ACN 0.20% 217,311 $54M $246.60 -$10M +5,863 +2.8%
87 AMGN 0.20% 188,365 $53M $282.20 $3M +7,863 +4.4%
88 APH 0.20% 427,489 $53M $123.75 $13M +20,391 +5.0%
89 ADBE 0.19% 148,709 $52M $352.75 -$3M +4,961 +3.5%
90 ETN 0.19% 137,978 $52M $374.25 $4M +4,923 +3.7%
91 INTC 0.19% 1,523,257 $51M $33.55 $18M +60,480 +4.1%
92 PGR 0.19% 206,542 $51M $246.95 -$2M +6,943 +3.5%
93 BSX 0.19% 517,472 $51M $97.63 -$3M +21,386 +4.3%
94 PFE 0.19% 1,976,323 $50M $25.48 $4M +68,293 +3.6%
95 INFY 0.18% 3,076,189 $50M $16.27 -$5M +103,532 +3.5%
96 KLAC 0.18% 46,226 $50M $1,078.60 $10M +1,352 +3.0%
97 SPG 0.18% 263,891 $50M $187.67 $8M +4,331 +1.7%
98 LOW 0.18% 196,084 $49M $251.31 $8M +7,854 +4.2%
99 UNP 0.18% 208,469 $49M $236.37 $3M +5,572 +2.8%
100 SPOT 0.18% 69,886 $49M $698.00 -$5M -400 -0.6%

New Positions

SymbolValue% Port
QLTA $12M 0.04%
YMM $4M 0.02%
OKLO $4M 0.02%
XRN $4M 0.01%
LEU $4M 0.01%
QS $3M 0.01%
APLD $3M 0.01%
GLXY $3M 0.01%
UEC $3M 0.01%
KRMN $3M 0.01%
BIDU $3M 0.01%
OSCR $3M 0.01%
IESC $3M 0.01%
PSKY $3M 0.01%
MRCY $3M 0.01%

Sold Out Positions

SymbolValue% Port
WU —%
TDC —%
NSP —%
AEO —%
GLOB —%
YELP —%
SQM —%
FVR —%
LOAR —%
HUN —%
CNK —%
APLE —%
VIST —%
RAMP —%
AI —%
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