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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
+9.94%
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
$57.2B
AUM Growth
+$807M
Cap. Flow
-$3.38B
Cap. Flow %
-5.92%
Top 10 Hldgs %
34.97%
Holding
2,195
New
48
Increased
186
Reduced
1,155
Closed
111

Top Buys

Rank Stock Value
1
IWB icon
iShares Russell 1000 ETF
IWB
+$32.1M
2
CVX icon
Chevron
CVX
+$26.3M
3
EFA icon
iShares MSCI EAFE ETF
EFA
+$17.2M
4
SNPS icon
Synopsys
SNPS
+$11.6M
5
BAM icon
Brookfield Asset Management
BAM
+$5.42M

Top Sells

Rank Stock Value
1
NVDA icon
NVIDIA
NVDA
+$235M
2
AAPL icon
Apple
AAPL
+$215M
3
MSFT icon
Microsoft
MSFT
+$215M
4
AMZN icon
Amazon
AMZN
+$109M
5
META icon
Meta Platforms (Facebook)
META
+$95.1M

Sector Composition

Rank Sector Weight
1 Technology 33.58%
2 Financials 13.39%
3 Consumer Discretionary 10.81%
4 Communication Services 10.12%
5 Healthcare 9.05%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPG icon
176
Simon Property Group
SPG
$71.4B
$55.2M 0.1%
294,095
-17,824
-6% -$3.08M
AFL icon
177
Aflac
AFL
$60.5B
$54.9M 0.1%
491,441
-47,974
-9% -$5.04M
MPC icon
178
Marathon Petroleum
MPC
$97.8B
$54.7M 0.1%
283,736
-39,476
-12% -$6.94M
UPS icon
179
United Parcel Service
UPS
$88.4B
$54.5M 0.1%
652,084
-29,303
-4% -$2.65M
AEP icon
180
American Electric Power
AEP
$67.9B
$54.4M 0.1%
483,244
-9,333
-2% -$1.02M
APD icon
181
Air Products & Chemicals
APD
$67.7B
$54.3M 0.09%
198,992
-10,196
-5% -$2.95M
VRT icon
182
Vertiv
VRT
$111B
$54.1M 0.09%
358,519
-8,941
-2% -$1.19M
REGN icon
183
Regeneron Pharmaceuticals
REGN
$82.2B
$54M 0.09%
95,966
-8,249
-8% -$4.66M
MAR icon
184
Marriott International
MAR
$92.5B
$53.9M 0.09%
206,950
-9,152
-4% -$2.46M
SRE icon
185
Sempra
SRE
$56.2B
$53.6M 0.09%
595,546
-8,496
-1% -$688K
FAST icon
186
Fastenal
FAST
$59.9B
$53.6M 0.09%
1,091,997
-100,403
-8% -$4.74M
CMI icon
187
Cummins
CMI
$87.8B
$53.5M 0.09%
126,663
-5,345
-4% -$2.05M
ALNY icon
188
Alnylam Pharmaceuticals
ALNY
$30B
$53.5M 0.09%
117,226
-9,824
-8% -$4M
GM icon
189
General Motors
GM
$76.1B
$52.9M 0.09%
867,647
-80,124
-8% -$4.47M
DLR icon
190
Digital Realty Trust
DLR
$72.9B
$52.6M 0.09%
304,292
-10,853
-3% -$1.86M
FCX icon
191
Freeport-McMoran
FCX
$96.9B
$52.5M 0.09%
1,339,319
-82,719
-6% -$3.59M
APO icon
192
Apollo Global Management
APO
$81.9B
$52.2M 0.09%
391,896
-53,822
-12% -$7.62M
LHX icon
193
L3Harris
LHX
$54.1B
$51.4M 0.09%
168,263
-9,987
-6% -$2.73M
PSX icon
194
Phillips 66
PSX
$90B
$51.2M 0.09%
376,094
-14,888
-4% -$1.91M
KMI icon
195
Kinder Morgan
KMI
$70.7B
$50.7M 0.09%
1,790,004
-110,180
-6% -$3.02M
ALL icon
196
Allstate
ALL
$64.7B
$50.5M 0.09%
235,488
-13,271
-5% -$2.68M
CMG icon
197
Chipotle Mexican Grill
CMG
$41.3B
$50.5M 0.09%
1,288,771
-117,834
-8% -$5.31M
O icon
198
Realty Income
O
$59.2B
$50.3M 0.09%
826,945
-11,271
-1% -$657K
AXON
199
Axon Enterprise
AXON
$48.7B
$50M 0.09%
69,694
-3,758
-5% -$2.85M
FTNT icon
200
Fortinet
FTNT
$118B
$50M 0.09%
594,631
-36,278
-6% -$3.24M
6 7
8
9 10

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State Board of Administration of Florida Retirement System's Q3 2025 Portfolio in Review

As of Q3 2025, State Board of Administration of Florida Retirement System held 2,195 positions worth $57.2B, up 1.4% from $56.4B the previous quarter. Its ten largest holdings account for 35% of the portfolio.

State Board of Administration of Florida Retirement System withdrew a net $3.38B in Q3 2025, closing 111 positions and reducing 1,155 holdings. Its most notable exit was Hess, an estimated $39.2M position sold in full.

By sector, the portfolio is most concentrated in Technology at 34% of assets, up from 32% 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 iShares Russell 2000 ETF worth $3.29M.

  • State Board of Administration of Florida Retirement System's largest Q3 2025 buy was iShares Russell 2000 ETF: 13,600 shares worth $3.29M.
  • State Board of Administration of Florida Retirement System added most to iShares Russell 1000 ETF in Q3 2025, an estimated $32.1M increase.
  • State Board of Administration of Florida Retirement System's biggest Q3 2025 reduction was NVIDIA, cutting an estimated $235M.
  • State Board of Administration of Florida Retirement System fully exited Hess in Q3 2025, selling an estimated $39.2M.
  • State Board of Administration of Florida Retirement System's ten largest holdings make up 35% of its $57.2B portfolio in Q3 2025.
  • State Board of Administration of Florida Retirement System opened 48 new positions and closed 111 in Q3 2025.
  • State Board of Administration of Florida Retirement System's portfolio value rose 1.4% quarter-over-quarter to $57.2B.

Based on State Board of Administration of Florida Retirement System's 13F filing for Q3 2025, filed 14 Nov 2025.