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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
+3.04%
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
$12.3B
AUM Growth
-$233M
Cap. Flow
-$273M
Cap. Flow %
-2.22%
Top 10 Hldgs %
43.58%
Holding
568
New
61
Increased
87
Reduced
127
Closed
72

Top Buys

Rank Stock Value
1
VOO icon
Vanguard S&P 500 ETF
VOO
+$251M
2
AMD icon
Advanced Micro Devices
AMD
+$87.8M
3
MSFT icon
Microsoft
MSFT
+$72.2M
4
SPOT icon
Spotify
SPOT
+$60.5M
5
AME icon
Ametek
AME
+$51M

Top Sells

Rank Stock Value
1
VEA icon
Vanguard FTSE Developed Markets ETF
VEA
+$300M
2
MNDY icon
monday.com
MNDY
+$74M
3
KKR icon
KKR & Co
KKR
+$70.2M
4
CL icon
Colgate-Palmolive
CL
+$68.2M
5
NFLX icon
Netflix
NFLX
+$63.2M

Sector Composition

Rank Sector Weight
1 Technology 26.65%
2 Financials 10.48%
3 Consumer Discretionary 8.96%
4 Healthcare 8.63%
5 Communication Services 8.08%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
XLI icon
26
State Street Industrial Select Sector SPDR ETF
XLI
$34.7B
$103M 0.84%
662,800
+31,800
+5% +$4.89M
TMO icon
27
Thermo Fisher Scientific
TMO
$222B
$102M 0.83%
175,555
+36,974
+27% +$20.9M
UNH icon
28
UnitedHealth
UNH
$368B
$98.9M 0.81%
299,560
+14,419
+5% +$4.89M
HD icon
29
Home Depot
HD
$355B
$94.9M 0.77%
275,875
-4,287
-2% -$1.57M
DHR icon
30
Danaher
DHR
$145B
$94.9M 0.77%
414,438
+96,700
+30% +$21.3M
MSI icon
31
Motorola Solutions
MSI
$77.6B
$90.6M 0.74%
236,262
+57,593
+32% +$23.1M
CDNS icon
32
Cadence Design Systems
CDNS
$89.6B
$89.9M 0.73%
287,581
+31,628
+12% +$10.3M
SCHW
33
Charles Schwab
SCHW
$186B
$88.9M 0.72%
890,067
-27,283
-3% -$2.59M
TJX icon
34
TJX Companies
TJX
$173B
$88.9M 0.72%
578,729
-9,200
-2% -$1.36M
XBI icon
35
State Street SPDR S&P Biotech ETF
XBI
$10.4B
$88.4M 0.72%
725,272
-13,000
-2% -$1.49M
ANET icon
36
Arista Networks
ANET
$247B
$87.6M 0.71%
668,391
+75,847
+13% +$10.4M
MS icon
37
Morgan Stanley
MS
$338B
$85.7M 0.7%
482,500
+65,100
+16% +$10.9M
AMD icon
38
Advanced Micro Devices
AMD
$767B
$83.8M 0.68%
+391,075
New +$87.8M
MDT icon
39
Medtronic
MDT
$115B
$82.9M 0.67%
862,697
-28,535
-3% -$2.77M
MELI icon
40
Mercado Libre
MELI
$96.8B
$80.9M 0.66%
40,184
+6,200
+18% +$13M
FITB
41
Fifth Third Bancorp
FITB
$52B
$80.3M 0.65%
1,714,700
-30,700
-2% -$1.35M
NOW icon
42
ServiceNow
NOW
$131B
$77.5M 0.63%
505,757
+27,912
+6% +$4.79M
ICE icon
43
Intercontinental Exchange
ICE
$84.4B
$75.6M 0.62%
466,514
-59,700
-11% -$9.35M
ALLY icon
44
Ally Financial
ALLY
$13.4B
$75.5M 0.61%
1,666,846
-29,800
-2% -$1.23M
AXP icon
45
American Express
AXP
$230B
$71.4M 0.58%
193,000
-3,400
-2% -$1.22M
WEC icon
46
WEC Energy
WEC
$34.7B
$69.6M 0.57%
659,533
-11,800
-2% -$1.31M
SYK icon
47
Stryker
SYK
$133B
$69.2M 0.56%
197,000
-3,200
-2% -$1.17M
HIG icon
48
Hartford Financial Services
HIG
$38.6B
$68.3M 0.56%
495,607
-8,240
-2% -$1.09M
VTR icon
49
Ventas
VTR
$45.5B
$68.2M 0.56%
881,026
-1,997
-0.2% -$151K
AZO icon
50
AutoZone
AZO
$50.3B
$67.1M 0.55%
19,777
-300
-1% -$1.13M
1
2
3 4 5

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SoftBank Group
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DWM
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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
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VA
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Employees Retirement System of Texas's Q4 2025 Portfolio in Review

As of Q4 2025, Employees Retirement System of Texas held 568 positions worth $12.3B, down 1.9% from $12.5B the previous quarter. Its ten largest holdings account for 44% of the portfolio.

Employees Retirement System of Texas's Q4 2025 filing shows 61 new, 87 increased, 127 reduced and 72 closed positions. Its largest new stake was Vanguard S&P 500 ETF: 403,400 shares worth $253M. The largest sale was Vanguard FTSE Developed Markets ETF, an estimated $300M.

By sector, the portfolio is most concentrated in Technology at 27% of assets, up from 26% a quarter earlier, followed by Financials and Consumer Discretionary.

  • Employees Retirement System of Texas's largest Q4 2025 buy was Vanguard S&P 500 ETF: 403,400 shares worth $253M.
  • Employees Retirement System of Texas added most to Microsoft in Q4 2025, an estimated $72.2M increase.
  • Employees Retirement System of Texas's biggest Q4 2025 reduction was Vanguard FTSE Developed Markets ETF, cutting an estimated $300M.
  • Employees Retirement System of Texas fully exited monday.com in Q4 2025, selling an estimated $74M.
  • Employees Retirement System of Texas's ten largest holdings make up 44% of its $12.3B portfolio in Q4 2025.
  • Employees Retirement System of Texas opened 61 new positions and closed 72 in Q4 2025.
  • Employees Retirement System of Texas's portfolio value fell 1.9% quarter-over-quarter to $12.3B.

Based on Employees Retirement System of Texas's 13F filing for Q4 2025, filed 9 Feb 2026.