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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
SBAC icon
401
SBA Communications
SBAC
$19.4B
$18.3M 0.03%
94,416
-4,466
-5% -$863K
AFRM icon
402
Affirm
AFRM
$24.6B
$18.2M 0.03%
243,943
-3,980
-2% -$286K
KEY icon
403
KeyCorp
KEY
$24.5B
$18.1M 0.03%
878,174
-123,503
-12% -$2.3M
WST icon
404
West Pharmaceutical
WST
$24.8B
$18.1M 0.03%
65,739
-1,600
-2% -$438K
LUV icon
405
Southwest Airlines
LUV
$22B
$18M 0.03%
436,040
-47,838
-10% -$1.67M
CHD icon
406
Church & Dwight Co
CHD
$24B
$18M 0.03%
214,795
-15,344
-7% -$1.31M
BRO icon
407
Brown & Brown
BRO
$23.8B
$18M 0.03%
225,741
-17,557
-7% -$1.46M
LH icon
408
Labcorp
LH
$26.2B
$18M 0.03%
71,592
– –
CMS icon
409
CMS Energy
CMS
$22B
$17.9M 0.03%
256,447
-30,555
-11% -$2.22M
PFG icon
410
Principal Financial Group
PFG
$24.4B
$17.9M 0.03%
202,996
– –
DRI icon
411
Darden Restaurants
DRI
$25.9B
$17.9M 0.03%
97,162
– –
CTRA
412
DELISTED
Coterra Energy
CTRA
$17.9M 0.03%
679,169
-85,722
-11% -$2.16M
IP icon
413
International Paper
IP
$21.8B
$17.8M 0.03%
453,040
-6,010
-1% -$247K
CHRW icon
414
C.H. Robinson
CHRW
$17.1B
$17.8M 0.03%
110,879
-2,344
-2% -$346K
KHC icon
415
Kraft Heinz
KHC
$29.1B
$17.8M 0.03%
732,086
-39,917
-5% -$993K
CASY icon
416
Casey's General Stores
CASY
$31B
$17.6M 0.03%
31,814
-1,293
-4% -$712K
CPAY icon
417
Corpay
CPAY
$26.9B
$17.5M 0.03%
58,246
– –
TRMB icon
418
Trimble
TRMB
$13.1B
$17.3M 0.03%
220,409
-20,114
-8% -$1.6M
STZ icon
419
Constellation Brands
STZ
$22.9B
$17.3M 0.03%
125,136
-1,650
-1% -$226K
CW icon
420
Curtiss-Wright
CW
$26.7B
$17.2M 0.03%
31,208
-2,145
-6% -$1.2M
VRSN icon
421
VeriSign
VRSN
$25.6B
$17.2M 0.03%
70,641
– –
FCNCA icon
422
First Citizens BancShares
FCNCA
$25.7B
$17.1M 0.03%
7,948
-969
-11% -$1.83M
FTV icon
423
Fortive
FTV
$18.6B
$16.9M 0.03%
306,621
-13,473
-4% -$699K
AMCR icon
424
Amcor
AMCR
$21.5B
$16.9M 0.03%
404,609
-23,199
-5% -$957K
IT icon
425
Gartner
IT
$11.3B
$16.9M 0.03%
66,843
+1,280
+2% +$308K
15 16
17
18 19

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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.