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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
ADBE icon
76
Adobe
ADBE
$102B
$132M 0.23%
377,378
-10,864
-3% -$3.69M
DHR icon
77
Danaher
DHR
$146B
$129M 0.23%
565,286
-18,791
-3% -$4.13M
PFE icon
78
Pfizer
PFE
$150B
$125M 0.22%
5,011,598
-262,189
-5% -$6.61M
BSX icon
79
Boston Scientific
BSX
$74.7B
$123M 0.22%
1,288,698
-58,527
-4% -$5.74M
EFA icon
80
iShares MSCI EAFE ETF
EFA
$80.2B
$120M 0.21%
1,252,285
-1,278,548
-51% -$121M
ANET icon
81
Arista Networks
ANET
$266B
$120M 0.21%
916,851
-28,311
-3% -$3.9M
UNP icon
82
Union Pacific
UNP
$174B
$120M 0.21%
517,780
-10,326
-2% -$2.36M
LOW icon
83
Lowe's Companies
LOW
$121B
$119M 0.21%
493,998
-15,089
-3% -$3.62M
PGR icon
84
Progressive
PGR
$121B
$118M 0.21%
517,111
-17,280
-3% -$3.9M
ADI icon
85
Analog Devices
ADI
$188B
$118M 0.21%
433,295
-10,545
-2% -$2.65M
ETN icon
86
Eaton
ETN
$180B
$110M 0.2%
346,259
-8,973
-3% -$3.18M
WELL icon
87
Welltower
WELL
$165B
$110M 0.19%
591,681
+10,048
+2% +$1.88M
HON icon
88
Honeywell
HON
$74.3B
$110M 0.19%
561,458
-52,112
-8% -$10.2M
COP icon
89
ConocoPhillips
COP
$152B
$109M 0.19%
1,163,535
-38,845
-3% -$3.51M
PANW icon
90
Palo Alto Networks
PANW
$313B
$108M 0.19%
586,948
-13,674
-2% -$2.76M
MDT icon
91
Medtronic
MDT
$116B
$107M 0.19%
1,118,475
-34,224
-3% -$3.32M
SYK icon
92
Stryker
SYK
$133B
$106M 0.19%
302,205
-6,561
-2% -$2.39M
PLD icon
93
Prologis
PLD
$134B
$105M 0.19%
822,082
-19,985
-2% -$2.49M
CRWD icon
94
CrowdStrike
CRWD
$226B
$103M 0.18%
874,944
-23,472
-3% -$2.99M
VRTX icon
95
Vertex Pharmaceuticals
VRTX
$133B
$102M 0.18%
226,000
-7,612
-3% -$3.28M
CB icon
96
Chubb
CB
$133B
$102M 0.18%
327,796
-6,360
-2% -$1.86M
DE icon
97
Deere & Co
DE
$168B
$102M 0.18%
218,727
-6,585
-3% -$3.09M
PH icon
98
Parker-Hannifin
PH
$135B
$101M 0.18%
114,537
-2,726
-2% -$2.23M
CEG icon
99
Constellation Energy
CEG
$99.2B
$99.1M 0.18%
280,503
-8,062
-3% -$2.93M
BX icon
100
Blackstone
BX
$110B
$99.1M 0.18%
642,750
-21,742
-3% -$3.3M
2 3
4
5 6

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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.