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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
FOUR icon
926
Shift4
FOUR
$3.79B
$2.93M 0.01%
46,549
– –
ESNT icon
927
Essent Group
ESNT
$6.23B
$2.93M 0.01%
45,055
+6,622
+17% +$411K
PR
928
Permian Resources
PR
$17.7B
$2.91M 0.01%
207,403
+7,110
+4% +$95.5K
DRH icon
929
Diamondrock Hospitality Co
DRH
$2.51B
$2.9M 0.01%
324,101
-15,071
-4% -$128K
RH icon
930
RH
RH
$3.4B
$2.89M 0.01%
16,117
– –
SE icon
931
Sea Limited
SE
$75.5B
$2.87M 0.01%
22,474
– –
MPT
932
Medical Properties Trust
MPT
$2.51B
$2.85M 0.01%
570,828
– –
PK icon
933
Park Hotels & Resorts
PK
$3.03B
$2.85M 0.01%
272,477
– –
AIT icon
934
Applied Industrial Technologies
AIT
$13.2B
$2.85M 0.01%
11,095
– –
LXP icon
935
LXP Industrial Trust
LXP
$3.58B
$2.85M 0.01%
57,454
-1
-0% -$48
RHI icon
936
Robert Half
RHI
$4.48B
$2.83M 0.01%
104,026
– –
PPLI
937
People Inc
PPLI
$3.01B
$2.82M 0.01%
72,109
-3,340
-4% -$117K
GFS icon
938
GlobalFoundries
GFS
$28.9B
$2.82M 0.01%
80,626
– –
ADC icon
939
Agree Realty
ADC
$9.34B
$2.81M 0.01%
39,042
+1,000
+3% +$73.1K
SKT icon
940
Tanger
SKT
$4.42B
$2.79M ﹤0.01%
83,707
-1,871
-2% -$62.4K
UI icon
941
Ubiquiti
UI
$35.3B
$2.79M ﹤0.01%
5,042
-310
-6% -$196K
SBH icon
942
Sally Beauty Holdings
SBH
$1.55B
$2.78M ﹤0.01%
194,618
+5,032
+3% +$75.8K
MDGL icon
943
Madrigal Pharmaceuticals
MDGL
$11.7B
$2.77M ﹤0.01%
4,759
+150
+3% +$76.6K
INSP icon
944
Inspire Medical Systems
INSP
$1.68B
$2.77M ﹤0.01%
29,990
-950
-3% -$90.9K
STAG icon
945
STAG Industrial
STAG
$7.12B
$2.75M ﹤0.01%
74,876
– –
MSGS icon
946
Madison Square Garden
MSGS
$9.94B
$2.73M ﹤0.01%
10,545
+2,530
+32% +$576K
KTOS icon
947
Kratos Defense & Security Solutions
KTOS
$11.8B
$2.72M ﹤0.01%
35,768
– –
ASH icon
948
Ashland
ASH
$3.36B
$2.7M ﹤0.01%
45,991
-2,670
-5% -$141K
PAG icon
949
Penske Automotive Group
PAG
$14.4B
$2.68M ﹤0.01%
16,912
– –
OLN icon
950
Olin
OLN
$2.17B
$2.67M ﹤0.01%
128,082
-7,310
-5% -$158K
36 37
38
39 40

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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.