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State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System Portfolio holdings

AUM $60.3B
1-Year Est. Return 42.74%
This Fund
S&P 500
This Quarter Est. Return
+4.01%
1 Year Est. Return
+42.74%
3 Year Est. Return
+123.7%
5 Year Est. Return
+164.12%
10 Year Est. Return
+631.09%
AUM
$56.5B
AUM Growth
-$642M
Cap. Flow
-$1.82B
Cap. Flow %
-3.23%
Top 10 Hldgs %
35.58%
Holding
2,124
New
40
Increased
197
Reduced
771
Closed
51

Top Buys

Rank Stock Value
1
Q
Qnity Electronics Inc
Q
+$17.3M
2
RKT icon
Rocket Companies
RKT
+$10.8M
3
OMC icon
Omnicom Group
OMC
+$8.89M
4
INSM icon
Insmed
INSM
+$8.26M
5
FLEX icon
Flex
FLEX
+$7.84M

Top Sells

Rank Stock Value
1
EFA icon
iShares MSCI EAFE ETF
EFA
+$121M
2
NVDA icon
NVIDIA
NVDA
+$111M
3
AAPL icon
Apple
AAPL
+$109M
4
MSFT icon
Microsoft
MSFT
+$96.5M
5
AMZN icon
Amazon
AMZN
+$57.2M

Sector Composition

Rank Sector Weight
1 Technology 33.27%
2 Financials 13.38%
3 Consumer Discretionary 10.64%
4 Communication Services 10.5%
5 Healthcare 9.85%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
STE icon
376
Steris
STE
$22.9B
$20.3M 0.04%
79,939
-3,396
-4% -$853K
UTHR icon
377
United Therapeutics
UTHR
$21.7B
$20.1M 0.04%
41,310
-530
-1% -$247K
EXPD icon
378
Expeditors International
EXPD
$24.1B
$19.9M 0.04%
133,571
-5,999
-4% -$816K
ZM icon
379
Zoom
ZM
$31B
$19.8M 0.04%
229,486
-8,336
-4% -$702K
ZS icon
380
Zscaler
ZS
$29.2B
$19.8M 0.04%
87,999
-2,794
-3% -$789K
NTAP icon
381
NetApp
NTAP
$40.2B
$19.8M 0.04%
184,743
-6,090
-3% -$695K
ILMN icon
382
Illumina
ILMN
$28.8B
$19.7M 0.03%
150,026
-5,706
-4% -$670K
WAT icon
383
Waters Corp
WAT
$40.9B
$19.6M 0.03%
51,714
-3,415
-6% -$1.26M
LULU icon
384
lululemon athletica
LULU
$13.6B
$19.6M 0.03%
94,249
-1,480
-2% -$268K
ALAB icon
385
Astera Labs
ALAB
$57.1B
$19.5M 0.03%
117,424
+6,075
+5% +$1.02M
HUBS icon
386
HubSpot
HUBS
$10.6B
$19.5M 0.03%
48,551
-350
-0.7% -$145K
WSM icon
387
Williams-Sonoma
WSM
$28.9B
$19.4M 0.03%
108,851
-3,313
-3% -$621K
PPG icon
388
PPG Industries
PPG
$25.5B
$19.1M 0.03%
186,617
-10,889
-6% -$1.09M
VLTO icon
389
Veralto
VLTO
$23.5B
$19.1M 0.03%
191,484
-16,567
-8% -$1.68M
TYL icon
390
Tyler Technologies
TYL
$12.7B
$19M 0.03%
41,868
-220
-0.5% -$105K
TWLO icon
391
Twilio
TWLO
$38.7B
$18.9M 0.03%
133,122
-7,001
-5% -$867K
P
392
Everpure Inc
P
$39B
$18.9M 0.03%
282,199
-1,598
-0.6% -$133K
HEI.A icon
393
HEICO Corp Class A
HEI.A
$37.6B
$18.8M 0.03%
74,294
– –
CNC icon
394
Centene
CNC
$32.8B
$18.7M 0.03%
455,213
-25,089
-5% -$939K
WRB icon
395
W.R. Berkley
WRB
$26B
$18.7M 0.03%
267,114
-38,660
-13% -$2.85M
LYV icon
396
Live Nation Entertainment
LYV
$43.3B
$18.7M 0.03%
130,930
-8,851
-6% -$1.27M
LVS icon
397
Las Vegas Sands
LVS
$29.6B
$18.6M 0.03%
286,302
-29,179
-9% -$1.79M
PODD icon
398
Insulet
PODD
$9.97B
$18.5M 0.03%
65,237
-1,430
-2% -$447K
L icon
399
Loews
L
$23.1B
$18.5M 0.03%
175,855
-14,718
-8% -$1.52M
PTC icon
400
PTC
PTC
$15.9B
$18.5M 0.03%
106,073
-3,210
-3% -$597K
14 15
16
17 18

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State Board of Administration of Florida Retirement System's Q4 2025 Portfolio in Review

As of Q4 2025, State Board of Administration of Florida Retirement System held 2,124 positions worth $56.5B, down 1.1% from $57.2B the previous quarter. Its ten largest holdings account for 36% of the portfolio.

State Board of Administration of Florida Retirement System withdrew a net $1.82B in Q4 2025, closing 51 positions and reducing 771 holdings. Its most notable exit was Kellanova, an estimated $17.1M position sold in full.

By sector, the portfolio is most concentrated in Technology at 33% of assets, down from 34% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, State Board of Administration of Florida Retirement System opened a new position in Qnity Electronics Inc worth $16.7M.

  • State Board of Administration of Florida Retirement System's largest Q4 2025 buy was Qnity Electronics Inc: 204,055 shares worth $16.7M.
  • State Board of Administration of Florida Retirement System added most to Rocket Companies in Q4 2025, an estimated $10.8M increase.
  • State Board of Administration of Florida Retirement System's biggest Q4 2025 reduction was iShares MSCI EAFE ETF, cutting an estimated $121M.
  • State Board of Administration of Florida Retirement System fully exited Kellanova in Q4 2025, selling an estimated $17.1M.
  • State Board of Administration of Florida Retirement System's ten largest holdings make up 36% of its $56.5B portfolio in Q4 2025.
  • State Board of Administration of Florida Retirement System opened 40 new positions and closed 51 in Q4 2025.
  • State Board of Administration of Florida Retirement System's portfolio value fell 1.1% quarter-over-quarter to $56.5B.

Based on State Board of Administration of Florida Retirement System's 13F filing for Q4 2025, filed 12 Feb 2026.