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Louisiana State Employees Retirement System

8401 UNITED PLAZA BLVD., BATON ROUGE, LA 70809 • 225-922-0600

Q4 2025 · Filed 2026-01-16
Market Value
$5.8B
-2.3%
Holdings
1,522
New Purchases
25
Added To
122
Closed
21
Reduced
1,166
Top 10 Concentration
30.2%
Turnover
3.0%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
GOOGL 2.37% 1.96% +0.41% $137M
GOOG 2.00% 1.67% +0.33% $116M
MU 0.65% 0.40% +0.26% $38M
LLY 0.75% 0.54% +0.22% $44M
AMD 0.71% 0.56% +0.15% $41M
QQQ 0.29% 0.18% +0.11% $17M
WDC 0.12% 0.04% +0.08% $7M
LRCX 0.44% 0.36% +0.08% $25M
STX 0.12% 0.04% +0.08% $7M
PINS 0.07% 0.00% +0.07% $4M
CRH.L 0.07% 0.00% +0.07% $4M
LITE 0.12% 0.05% +0.07% $7M
AMAT 0.42% 0.35% +0.07% $24M
ISRG 0.41% 0.34% +0.07% $24M
SOLS 0.06% 0.00% +0.06% $4M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
MSFT 4.68% 5.34% -0.66% $271M
AVGO 2.13% 2.66% -0.53% $123M
NVDA 5.90% 6.30% -0.40% $341M
NFLX 0.81% 1.08% -0.27% $47M
SPLG 0.64% 0.77% -0.14% $37M
META 2.08% 2.21% -0.13% $120M
ORCL 0.29% 0.41% -0.12% $17M
FIX 0.03% 0.14% -0.11% $2M
COOP 0.00% 0.10% -0.10% $0
SNDK 0.03% 0.12% -0.09% $2M
COST 0.78% 0.87% -0.09% $45M
TMUS 0.35% 0.43% -0.09% $20M
LIN 0.41% 0.47% -0.07% $23M
MSTR 0.05% 0.10% -0.06% $3M
HD 0.30% 0.36% -0.05% $17M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Technology 30.9%
Financial Services 12.1%
Consumer Cyclical 10.9%
Industrials 10.8%
Communication Services 9.1%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 58 $2.7B 47.5%
Large Cap 595 $2.0B 34.9%
Mid Cap 615 $889M 15.4%
Small Cap 248 $131M 2.3%
Micro Cap 6 $2M 0.0%

Portfolio Analytics

Avg Market Cap
$52.8B
Median Market Cap
$7.3B
Avg P/E
32.3
Median P/E
21.7
Avg Dividend Yield
0.02%
Avg Beta
1.04
# Stocks
1,518
# ETFs / Funds
4

Top Holdings (1,522 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 NVDA 5.90% 1,830,100 $341M $186.50 -$32M -170,500 -8.5%
2 AAPL 5.23% 1,112,800 $303M $271.86 -$8M -105,800 -8.7%
3 MSFT 4.68% 559,800 $271M $483.62 -$45M -50,500 -8.3%
4 AMZN 3.02% 755,900 $174M $230.82 -$7M -69,500 -8.4%
5 GOOGL 2.37% 438,200 $137M $313.00 $21M -39,400 -8.2%
6 AVGO 2.13% 355,600 $123M $346.10 -$34M -121,800 -25.5%
7 META 2.08% 182,400 $120M $660.09 -$10M +4,300 +2.4%
8 GOOG 2.00% 368,500 $116M $313.80 $17M -37,500 -9.2%
9 TSLA 1.95% 250,700 $113M $449.72 -$748K -4,500 -1.8%
10 PLTR 0.83% 269,500 $48M $177.75 -$4M -15,700 -5.5%
11 BRK-B 0.81% 93,700 $47M $502.65 -$1M -2,500 -2.6%
12 NFLX 0.81% 499,800 $47M $93.76 -$17M +446,500 +837.7%
13 COST 0.78% 52,200 $45M $862.34 -$6M -3,400 -6.1%
14 JPM 0.77% 139,100 $45M $322.22 -$696K -5,200 -3.6%
15 LLY 0.75% 40,600 $44M $1,074.68 $12M -1,100 -2.6%
16 AMD 0.71% 192,100 $41M $214.16 $8M -11,500 -5.7%
17 MU 0.65% 132,600 $38M $285.41 $14M -7,700 -5.5%
18 SPLG 0.64% 459,900 $37M $80.22 -$9M -125,000 -21.4%
19 CSCO 0.62% 465,600 $36M $77.03 $2M -31,000 -6.2%
20 V 0.52% 86,200 $30M $350.71 -$186K -2,900 -3.2%
21 XOM 0.45% 215,400 $26M $120.34 $699K -8,300 -3.7%
22 JNJ 0.44% 123,100 $25M $206.95 $2M -3,300 -2.6%
23 LRCX 0.44% 148,200 $25M $171.18 $4M -10,500 -6.6%
24 WMT 0.43% 224,000 $25M $111.41 $1M -6,300 -2.7%
25 AMAT 0.42% 94,000 $24M $256.99 $4M -6,200 -6.2%
26 MA 0.41% 41,900 $24M $570.88 -$710K -1,400 -3.2%
27 ISRG 0.41% 41,800 $24M $566.36 $4M -3,100 -6.9%
28 LIN 0.41% 55,100 $23M $426.39 -$4M -3,700 -6.3%
29 APP 0.40% 34,400 $23M $673.82 -$3M -2,200 -6.0%
30 PEP 0.40% 161,300 $23M $143.52 -$950K -10,300 -6.0%
31 INTU 0.38% 32,800 $22M $662.42 -$2M -2,100 -6.0%
32 QCOM 0.37% 126,300 $22M $171.05 -$905K -9,000 -6.7%
33 AMGN 0.36% 63,500 $21M $327.31 $2M -4,000 -5.9%
34 ABBV 0.36% 90,300 $21M $228.49 -$831K -2,400 -2.6%
35 BKNG 0.35% 3,800 $20M $5,355.33 -$2M -300 -7.3%
36 INTC 0.35% 548,100 $20M $36.90 $2M -800 -0.1%
37 TMUS 0.35% 99,400 $20M $203.04 -$6M -8,100 -7.5%
38 BAC 0.33% 343,200 $19M $55.00 $427K -14,400 -4.0%
39 KLAC 0.33% 15,500 $19M $1,215.08 $1M -1,000 -6.1%
40 TXN 0.32% 107,200 $19M $173.49 -$2M -6,800 -6.0%
41 GILD 0.31% 146,400 $18M $122.74 $698K -9,200 -5.9%
42 HD 0.30% 50,800 $17M $344.10 -$4M -1,400 -2.7%
43 ADBE 0.30% 49,400 $17M $349.99 -$1M -3,800 -7.1%
44 PG 0.30% 119,400 $17M $143.31 -$2M -3,500 -2.9%
45 ORCL 0.29% 85,900 $17M $194.91 -$8M -1,100 -1.3%
46 QQQ 0.29% 27,200 $17M $614.31 $6M +9,500 +53.7%
47 GE 0.29% 53,900 $17M $308.03 -$123K -1,700 -3.1%
48 ADI 0.27% 57,900 $16M $271.20 $494K -4,000 -6.5%
49 UNH 0.26% 46,300 $15M $330.11 -$1M -1,200 -2.5%
50 PANW 0.26% 81,500 $15M $184.20 -$2M -2,300 -2.7%
51 WFC 0.26% 160,300 $15M $93.20 $850K -7,800 -4.6%
52 CVX 0.25% 96,700 $15M $152.41 -$941K -4,265 -4.2%
53 HON 0.25% 74,900 $15M $195.09 -$2M -4,700 -5.9%
54 IBM 0.24% 47,700 $14M $296.21 $332K -1,200 -2.5%
55 CRWD 0.24% 29,600 $14M $468.76 -$2M -1,800 -5.7%
56 KO 0.24% 197,800 $14M $69.91 $352K -5,400 -2.7%
57 CAT 0.24% 23,900 $14M $572.87 $2M -700 -2.9%
58 VRTX 0.24% 30,000 $14M $453.36 $990K -2,200 -6.8%
59 GS 0.23% 15,300 $13M $879.00 $787K -600 -3.8%
60 MRK 0.23% 126,800 $13M $105.26 $2M -4,300 -3.3%
61 SHOP 0.23% 81,800 $13M $160.97 -$59K -7,200 -8.1%
62 CEG 0.23% 36,900 $13M $353.27 $136K -2,300 -5.9%
63 CRM 0.22% 48,600 $13M $264.91 $977K -1,600 -3.2%
64 CMCSA 0.22% 428,800 $13M $29.89 -$2M -33,000 -7.2%
65 PM 0.22% 79,500 $13M $160.40 -$500K -2,200 -2.7%
66 RTX 0.22% 68,500 $13M $183.40 $816K -1,700 -2.4%
67 ADP 0.21% 47,800 $12M $257.23 -$3M -3,000 -5.9%
68 SBUX 0.20% 134,200 $11M $84.21 -$755K -8,300 -5.8%
69 ABT 0.19% 88,800 $11M $125.29 -$1M -2,500 -2.7%
70 TMO 0.19% 19,200 $11M $579.45 $2M -600 -3.0%
71 MCD 0.19% 36,400 $11M $305.63 -$241K -1,000 -2.7%
72 MS 0.19% 61,700 $11M $177.53 $828K -2,000 -3.1%
73 C 0.18% 91,400 $11M $116.69 $861K -5,200 -5.4%
74 DASH 0.18% 46,300 $10M $226.48 -$3M -2,400 -4.9%
75 DIS 0.18% 91,200 $10M $113.77 -$422K -3,100 -3.3%
76 SNPS 0.18% 21,900 $10M $469.72 -$1M -1,238 -5.3%
77 AXP 0.18% 27,400 $10M $369.95 $670K -1,100 -3.9%
78 CDNS 0.17% 32,100 $10M $312.58 -$2M -2,100 -6.1%
79 REGN 0.16% 12,000 $9M $771.87 $2M -900 -7.0%
80 MAR 0.16% 29,400 $9M $310.24 $891K -2,200 -7.0%
81 CIEN 0.16% 39,000 $9M $233.87 $3M -400 -1.0%
82 GEV 0.16% 13,900 $9M $653.57 $292K -400 -2.8%
83 ORLY 0.16% 99,600 $9M $91.21 -$2M -6,800 -6.4%
84 T 0.16% 362,100 $9M $24.84 -$2M -13,100 -3.5%
85 VZ 0.15% 215,400 $9M $40.73 -$948K -5,800 -2.6%
86 TJX 0.15% 56,800 $9M $153.61 $269K -1,700 -2.9%
87 BA 0.15% 40,000 $9M $217.12 $116K +300 +0.8%
88 UBER 0.15% 106,100 $9M $81.71 -$2M -3,300 -3.0%
89 NEE 0.15% 106,400 $9M $80.28 $381K -1,700 -1.6%
90 SCHW 0.15% 85,300 $9M $99.91 -$22K -4,200 -4.7%
91 ACN 0.15% 31,700 $9M $268.30 $441K -1,000 -3.1%
92 APH 0.15% 62,500 $8M $135.14 $514K -1,600 -2.5%
93 WBD 0.15% 292,400 $8M $28.82 $2M -18,100 -5.8%
94 CTAS 0.14% 44,300 $8M $188.07 -$1M -3,100 -6.5%
95 SPGI 0.14% 15,800 $8M $522.59 $275K -600 -3.7%
96 MDLZ 0.14% 152,200 $8M $53.83 -$2M -10,100 -6.2%
97 NOW 0.14% 53,000 $8M $153.19 -$2M +42,100 +386.2%
98 COHR 0.14% 43,500 $8M $184.57 $3M +200 +0.5%
99 CSX 0.14% 219,700 $8M $36.25 -$338K -14,100 -6.0%
100 BLK 0.14% 7,400 $8M $1,070.34 -$940K -200 -2.6%

New Positions

SymbolValue% Port
PINS $4M 0.07%
CRH.L $4M 0.07%
SOLS $4M 0.06%
ALNY $3M 0.06%
PRIM $3M 0.05%
CVNA $3M 0.05%
BAH $3M 0.05%
CWST $3M 0.05%
PTCT $3M 0.05%
INSM $2M 0.04%
CRBG $2M 0.04%
SPSM $2M 0.03%
BTSG $2M 0.03%
PATH $2M 0.03%
ARES $2M 0.03%

Sold Out Positions

SymbolValue% Port
RC —%
LXP —%
ASIX —%
CAL —%
RGR —%
HELE —%
GFS —%
THRY —%
CEVA —%
WRLD —%
NWS —%
VBTX —%
COOP —%
K —%
PINC —%
View SEC EDGAR Filings for Louisiana State Employees Retirement System →

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