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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
VGIT icon
1
Vanguard Intermediate-Term Treasury ETF
VGIT
$41.6B
– –
0
– –
MSFT icon
2
Microsoft
MSFT
$3.71T
$462M 4.19%
1,230,429
+261,064
+27% +$106M
HYLB icon
3
Xtrackers USD High Yield Corporate Bond ETF
HYLB
$3.47B
– –
0
– –
RSP icon
4
Invesco S&P 500 Equal Weight ETF
RSP
$98.8B
$455M 4.13%
2,629,372
+573,300
+28% +$102M
AAPL icon
5
Apple
AAPL
$4.56T
$434M 3.94%
1,955,831
-22,800
-1% -$5.28M
NVDA icon
6
NVIDIA
NVDA
$5.3T
$411M 3.73%
3,793,638
-202,373
-5% -$25.6M
AMZN icon
7
Amazon
AMZN
$2.94T
$315M 2.85%
1,654,644
-112,409
-6% -$24.4M
VEA icon
8
Vanguard FTSE Developed Markets ETF
VEA
$234B
$286M 2.59%
5,629,961
+1,923,800
+52% +$97.3M
META icon
9
Meta Platforms (Facebook)
META
$1.5T
$216M 1.96%
375,022
-46,498
-11% -$30M
JPM icon
10
JPMorgan Chase
JPM
$947B
$181M 1.64%
737,500
-28,300
-4% -$7.21M
LLY icon
11
Eli Lilly
LLY
$1.06T
$180M 1.63%
218,356
+13,188
+6% +$11M
MA icon
12
Mastercard
MA
$505B
$166M 1.5%
302,059
-19,500
-6% -$10.6M
SPY icon
13
State Street SPDR S&P 500 ETF Trust
SPY
$818B
$150M 1.36%
+268,300
New +$158M
AVGO icon
14
Broadcom
AVGO
$2T
$148M 1.34%
886,030
-59,919
-6% -$12.7M
XOM icon
15
ExxonMobil
XOM
$642B
$127M 1.15%
1,063,953
+62,171
+6% +$6.88M
UNH icon
16
UnitedHealth
UNH
$367B
$116M 1.05%
221,800
-16,712
-7% -$8.54M
KO icon
17
Coca-Cola
KO
$374B
$116M 1.05%
1,614,000
+379,269
+31% +$25.3M
PLD icon
18
Prologis
PLD
$132B
$111M 1.01%
992,438
+32,383
+3% +$3.75M
TSLA icon
19
Tesla
TSLA
$1.26T
$109M 0.99%
421,356
-5,627
-1% -$1.88M
WMT icon
20
Walmart Inc
WMT
$892B
$109M 0.99%
1,241,900
-181,789
-13% -$17.1M
NFLX icon
21
Netflix
NFLX
$307B
$107M 0.97%
1,150,460
-137,410
-11% -$13.1M
PG icon
22
Procter & Gamble
PG
$342B
$99.5M 0.9%
583,557
+42,629
+8% +$7.14M
COST icon
23
Costco
COST
$421B
$98.9M 0.9%
104,549
-7,600
-7% -$7.41M
PH icon
24
Parker-Hannifin
PH
$135B
$96M 0.87%
157,869
+14,683
+10% +$9.6M
TMUS icon
25
T-Mobile US
TMUS
$193B
$92.2M 0.84%
345,637
-30,263
-8% -$7.46M
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
MIFH
Migdal Insurance & Financial Holdings Petach Tikva, Israel $11.5B AUM 52.5% 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
GIM
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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.