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ERSOT

Employees Retirement System of Texas Portfolio holdings

AUM $11.4B
1-Year Est. Return 21.6%
This Fund
S&P 500
This Quarter Est. Return
-0.87%
1 Year Est. Return
+21.6%
3 Year Est. Return
+92.23%
5 Year Est. Return
+130.52%
10 Year Est. Return
+498.15%
AUM
$11B
AUM Growth
-$684M
Cap. Flow
-$519M
Cap. Flow %
-4.7%
Top 10 Hldgs %
42.06%
Holding
345
New
35
Increased
70
Reduced
99
Closed
81

Top Buys

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$158M
2
MSFT icon
Microsoft
MSFT
+$106M
3
RSP icon
Invesco S&P 500 Equal Weight ETF
RSP
+$102M
4
VEA icon
Vanguard FTSE Developed Markets ETF
VEA
+$97.3M
5
UBER icon
Uber
UBER
+$69M

Top Sells

Rank Stock Value
1
GOOG icon
Alphabet (Google) Class C
GOOG
+$274M
2
CRM icon
Salesforce
CRM
+$108M
3
HON icon
Honeywell
HON
+$85.5M
4
WFC icon
Wells Fargo
WFC
+$85.5M
5
MDY icon
State Street SPDR S&P MIDCAP 400 ETF Trust
MDY
+$80.6M

Sector Composition

Rank Sector Weight
1 Technology 19.44%
2 Financials 9.84%
3 Consumer Discretionary 8.29%
4 Healthcare 7.29%
5 Real Estate 6.83%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RPRX icon
326
Royalty Pharma
RPRX
$25.7B
– –
-97,800
Closed -$2.5M
SHEL icon
327
Shell
SHEL
$250B
– –
-52,710
Closed -$3.3M
SIRI icon
328
SiriusXM
SIRI
$9.61B
– –
-110,910
Closed -$2.53M
SNY icon
329
Sanofi
SNY
$104B
– –
-51,390
Closed -$2.48M
SO icon
330
Southern Company
SO
$106B
– –
-109,404
Closed -$9.01M
STZ icon
331
Constellation Brands
STZ
$22.9B
– –
-213,300
Closed -$47.1M
TECK icon
332
Teck Resources
TECK
$32.4B
– –
-5,669
Closed -$230K
TEVA icon
333
Teva Pharmaceuticals
TEVA
$42.5B
– –
-21,180
Closed -$467K
TGT icon
334
Target
TGT
$69.2B
– –
-15,352
Closed -$2.08M
VNT icon
335
Vontier
VNT
$4.61B
– –
-82,610
Closed -$3.01M
VTRS icon
336
Viatris
VTRS
$18.7B
– –
-173,408
Closed -$2.16M
WFC icon
337
Wells Fargo
WFC
$264B
– –
-1,216,900
Closed -$85.5M
WPM icon
338
Wheaton Precious Metals
WPM
$61B
– –
-13,870
Closed -$780K
WSO icon
339
Watsco Inc
WSO
$13.2B
– –
-5,718
Closed -$2.71M
XEL icon
340
Xcel Energy
XEL
$48.5B
– –
-59,510
Closed -$4.02M
XHR
341
Xenia Hotels & Resorts
XHR
$1.72B
– –
-175,000
Closed -$2.6M
ZIM icon
342
ZIM Integrated Shipping Services
ZIM
$2.96B
– –
-2,106
Closed -$45K
RDDT icon
343
Reddit
RDDT
$30.1B
– –
-11,034
Closed -$1.8M
10 11 12 13
14

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SoftBank Group Tokyo, Japan $11.4B AUM 27.91% 1-Year Est. Return
DWM
Dynasty Wealth Management St. Petersburg, Florida $11.5B AUM 15.23% 1-Year Est. Return
VLKIM
Van Lanschot Kempen Investment Management Amsterdam, Netherlands $11.4B AUM 16.77% 1-Year Est. Return
GKIM
GW&K Investment Management Boston, Massachusetts $11.3B AUM 31.98% 1-Year Est. Return
BHCM
Brevan Howard Capital Management St. Helier, Jersey $11.3B AUM 35.84% 1-Year Est. Return
DCP
D1 Capital Partners New York $11.2B AUM 15.78% 1-Year Est. Return
BCI
Brinker Capital Investments Berwyn, Pennsylvania $11.7B AUM 21.33% 1-Year Est. Return
VA
Vident Advisory Alpharetta, Georgia $11.7B AUM 37.32% 1-Year Est. Return

Employees Retirement System of Texas's Q1 2025 Portfolio in Review

As of Q1 2025, Employees Retirement System of Texas held 345 positions worth $11B, down 5.8% from $11.7B the previous quarter. Its ten largest holdings account for 42% of the portfolio.

Employees Retirement System of Texas withdrew a net $519M in Q1 2025, closing 81 positions and reducing 99 holdings. Its most notable exit was Alphabet (Google) Class C, an estimated $274M position sold in full.

By sector, the portfolio is most concentrated in Technology at 19% of assets, down from 22% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Employees Retirement System of Texas opened a new position in State Street SPDR S&P 500 ETF Trust worth $150M.

  • Employees Retirement System of Texas's largest Q1 2025 buy was State Street SPDR S&P 500 ETF Trust: 268,300 shares worth $150M.
  • Employees Retirement System of Texas added most to Microsoft in Q1 2025, an estimated $106M increase.
  • Employees Retirement System of Texas's biggest Q1 2025 reduction was Ameriprise Financial, cutting an estimated $56.6M.
  • Employees Retirement System of Texas fully exited Alphabet (Google) Class C in Q1 2025, selling an estimated $274M.
  • Employees Retirement System of Texas's ten largest holdings make up 42% of its $11B portfolio in Q1 2025.
  • Employees Retirement System of Texas opened 35 new positions and closed 81 in Q1 2025.
  • Employees Retirement System of Texas's portfolio value fell 5.8% quarter-over-quarter to $11B.

Based on Employees Retirement System of Texas's 13F filing for Q1 2025, filed 13 May 2025.