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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
IRM icon
101
Iron Mountain
IRM
$36.4B
$14.8M 0.13%
172,324
+41,824
+32% +$4.03M
CI icon
102
Cigna
CI
$72.4B
$13.6M 0.12%
41,362
+5,930
+17% +$1.79M
EQR icon
103
Equity Residential
EQR
$24.4B
$13.5M 0.12%
188,020
-70,000
-27% -$4.94M
EXE
104
Expand Energy Corp
EXE
$22.7B
$12.6M 0.11%
113,352
– –
AIG icon
105
American International
AIG
$40.4B
$12.1M 0.11%
+138,938
New +$10.8M
SE icon
106
Sea Limited
SE
$80.5B
$11.8M 0.11%
90,318
-7,262
-7% -$901K
DUK icon
107
Duke Energy
DUK
$96.1B
$11.5M 0.1%
+94,338
New +$10.8M
MAA icon
108
Mid-America Apartment Communities
MAA
$15.3B
$11.2M 0.1%
67,080
+21,603
+48% +$3.42M
IBN icon
109
ICICI Bank
IBN
$107B
$11.1M 0.1%
353,069
+26,168
+8% +$759K
MO icon
110
Altria Group
MO
$109B
$10.7M 0.1%
178,898
-1,496
-0.8% -$81.7K
DOC icon
111
Healthpeak Properties
DOC
$14.1B
$10.5M 0.1%
520,024
+143,312
+38% +$2.9M
GE icon
112
GE Aerospace
GE
$382B
$10.1M 0.09%
+50,530
New +$9.94M
BXP icon
113
Boston Properties
BXP
$10.8B
$9.56M 0.09%
142,300
+35,000
+33% +$2.45M
CVX icon
114
Chevron
CVX
$386B
$9.37M 0.09%
56,031
+41,421
+284% +$6.48M
BUD icon
115
AB InBev
BUD
$159B
$8.9M 0.08%
+144,560
New +$7.91M
FET icon
116
Forum Energy Technologies
FET
$934M
$8.88M 0.08%
441,787
– –
ARE icon
117
Alexandria Real Estate Equities
ARE
$8.28B
$8.88M 0.08%
95,990
+34,990
+57% +$3.43M
NEE icon
118
NextEra Energy
NEE
$179B
$8.59M 0.08%
121,218
+27,788
+30% +$1.96M
WPC icon
119
W.P. Carey
WPC
$15.9B
$8.58M 0.08%
136,000
+50,000
+58% +$2.96M
HDB icon
120
HDFC Bank
HDB
$120B
$8.39M 0.08%
252,466
+46,826
+23% +$1.43M
IBM icon
121
IBM
IBM
$225B
$8.24M 0.07%
+33,136
New +$8.11M
ELS icon
122
Equity Lifestyle Properties
ELS
$12.4B
$8.2M 0.07%
123,000
-4,272
-3% -$285K
BP icon
123
BP
BP
$111B
$8.18M 0.07%
242,031
+8,677
+4% +$283K
SUI icon
124
Sun Communities
SUI
$14.5B
$8.03M 0.07%
62,416
+17,416
+39% +$2.23M
UDR icon
125
UDR
UDR
$12B
$7.91M 0.07%
175,094
+57,094
+48% +$2.44M
3 4
5
6 7

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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.