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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
MCO icon
126
Moody's
MCO
$82.8B
$72.3M 0.13%
141,608
-3,838
-3% -$1.87M
AMT icon
127
American Tower
AMT
$79.4B
$72.2M 0.13%
411,321
-14,852
-3% -$2.7M
DASH icon
128
DoorDash
DASH
$92.1B
$72M 0.13%
317,764
-12,844
-4% -$3.01M
WM icon
129
Waste Management
WM
$90.5B
$71.9M 0.13%
327,327
-10,329
-3% -$2.2M
REGN icon
130
Regeneron Pharmaceuticals
REGN
$82.2B
$71.6M 0.13%
92,736
-3,230
-3% -$2.19M
HWM icon
131
Howmet Aerospace
HWM
$112B
$71.3M 0.13%
347,937
-18,965
-5% -$3.77M
HCA icon
132
HCA Healthcare
HCA
$89.8B
$71.3M 0.13%
152,664
-7,427
-5% -$3.45M
ELV icon
133
Elevance Health
ELV
$86.6B
$69.5M 0.12%
198,309
-6,353
-3% -$2.15M
NOC icon
134
Northrop Grumman
NOC
$82B
$69.2M 0.12%
121,343
-3,937
-3% -$2.28M
JCI icon
135
Johnson Controls International
JCI
$92.6B
$69.2M 0.12%
577,727
-25,625
-4% -$2.94M
ORLY icon
136
O'Reilly Automotive
ORLY
$74.5B
$68.7M 0.12%
752,875
-37,998
-5% -$3.71M
TDG icon
137
TransDigm Group
TDG
$68.3B
$68.6M 0.12%
51,617
-1,505
-3% -$1.97M
PNC icon
138
PNC Financial Services
PNC
$102B
$68.6M 0.12%
328,545
+4,200
+1% +$811K
GM icon
139
General Motors
GM
$76.1B
$68.5M 0.12%
842,360
-25,287
-3% -$1.78M
EQIX icon
140
Equinix
EQIX
$105B
$67.4M 0.12%
87,926
-2,489
-3% -$1.95M
CRH icon
141
CRH
CRH
$65.2B
$67M 0.12%
537,142
-19,106
-3% -$2.28M
SHW icon
142
Sherwin-Williams
SHW
$87.4B
$66.3M 0.12%
204,607
-6,406
-3% -$2.14M
NKE icon
143
Nike
NKE
$60.1B
$65.7M 0.12%
1,031,075
-48,351
-4% -$3.15M
FCX icon
144
Freeport-McMoran
FCX
$96.9B
$65.5M 0.12%
1,288,703
-50,616
-4% -$2.19M
MRVL icon
145
Marvell Technology
MRVL
$195B
$64.7M 0.11%
761,787
-36,641
-5% -$3.21M
ITW icon
146
Illinois Tool Works
ITW
$83.3B
$64.5M 0.11%
261,981
-2,330
-0.9% -$580K
WMB icon
147
Williams Companies
WMB
$90.1B
$64.5M 0.11%
1,073,151
-48,881
-4% -$2.96M
EMR icon
148
Emerson Electric
EMR
$91.4B
$64.3M 0.11%
484,130
-22,735
-4% -$3.02M
CI icon
149
Cigna
CI
$73.3B
$64.1M 0.11%
232,811
-7,038
-3% -$1.97M
UPS icon
150
United Parcel Service
UPS
$88.4B
$64.1M 0.11%
645,794
-6,290
-1% -$588K
4 5
6
7 8

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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.