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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
ORCL icon
26
Oracle
ORCL
$419B
$291M 0.51%
1,492,691
-20,540
-1% -$4.89M
GE icon
27
GE Aerospace
GE
$382B
$290M 0.51%
940,631
-28,794
-3% -$8.67M
MU icon
28
Micron Technology
MU
$981B
$282M 0.5%
988,162
-21,109
-2% -$4.84M
CSCO icon
29
Cisco
CSCO
$475B
$271M 0.48%
3,521,932
-136,540
-4% -$10.1M
WFC icon
30
Wells Fargo
WFC
$264B
$266M 0.47%
2,854,678
-142,360
-5% -$12.4M
UNH icon
31
UnitedHealth
UNH
$361B
$265M 0.47%
803,603
-22,624
-3% -$7.67M
CVX icon
32
Chevron
CVX
$386B
$260M 0.46%
1,708,281
-54,567
-3% -$8.31M
IBM icon
33
IBM
IBM
$225B
$244M 0.43%
823,403
-18,476
-2% -$5.53M
KO icon
34
Coca-Cola
KO
$372B
$241M 0.43%
3,445,689
-134,708
-4% -$9.39M
CAT icon
35
Caterpillar
CAT
$388B
$236M 0.42%
411,912
-8,077
-2% -$4.49M
MRK icon
36
Merck
MRK
$322B
$235M 0.42%
2,231,755
-59,545
-3% -$5.59M
GS icon
37
Goldman Sachs
GS
$301B
$233M 0.41%
265,602
-10,880
-4% -$8.88M
PM icon
38
Philip Morris
PM
$290B
$222M 0.39%
1,385,018
-32,881
-2% -$5.09M
CRM icon
39
Salesforce
CRM
$162B
$219M 0.39%
826,913
-22,102
-3% -$5.49M
RTX icon
40
RTX Corp
RTX
$302B
$219M 0.39%
1,193,672
-40,658
-3% -$7.06M
LRCX icon
41
Lam Research
LRCX
$390B
$195M 0.35%
1,140,083
-50,634
-4% -$7.88M
MCD icon
42
McDonald's
MCD
$194B
$194M 0.34%
635,090
-15,943
-2% -$4.88M
TMO icon
43
Thermo Fisher Scientific
TMO
$224B
$194M 0.34%
334,359
-10,158
-3% -$5.74M
ABT icon
44
Abbott
ABT
$190B
$192M 0.34%
1,533,671
-49,090
-3% -$6.25M
C icon
45
Citigroup
C
$228B
$188M 0.33%
1,610,242
-80,987
-5% -$8.41M
MS icon
46
Morgan Stanley
MS
$338B
$184M 0.33%
1,034,738
-27,271
-3% -$4.55M
DIS icon
47
Walt Disney
DIS
$179B
$182M 0.32%
1,602,249
-42,241
-3% -$4.65M
AMAT icon
48
Applied Materials
AMAT
$417B
$180M 0.32%
698,516
-17,891
-2% -$4.29M
AXP icon
49
American Express
AXP
$230B
$179M 0.32%
483,695
-14,012
-3% -$5.01M
ISRG icon
50
Intuitive Surgical
ISRG
$142B
$178M 0.31%
314,214
-8,856
-3% -$4.71M
1
2
3 4 5

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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.