VRS

Virginia Retirement Systems Portfolio holdings

AUM $14.5B

2025 Q2 2025 Q1 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2

This Quarter Return

+3%

1 Year Return

–

3 Year Return

–

5 Year Return

–

10 Year Return

–

AUM

$6.79B

AUM Growth

–

Cap. Flow

+$6.79B

Cap. Flow % of AUM

100%

Top 10 Holdings % Top 10 Hldgs %

15.01%

Holding

946

New

946

Increased

–

Reduced

–

Closed

–

Top Buys

1	Apple AAPL	$161M
2	Exxon Mobil XOM	$148M
3	Johnson & Johnson JNJ	$129M
4	Microsoft MSFT	$93.8M
5	AT&T T	$89.1M

Top Sells

No sells this quarter

Sector Composition

1	Financials	15.07%
2	Healthcare	12.29%
3	Technology	11.61%
4	Real Estate	10.47%
5	Consumer Discretionary	9.28%

Communication Services

Advertising Agencies

Broadcasting

Electronic Gaming & Multimedia

Entertainment

Internet Content & Information

Publishing

Telecom Services

Consumer Discretionary

Apparel Manufacturing

Apparel Retail

Auto Manufacturers

Auto Parts

Auto & Truck Dealerships

Department Stores

Footwear & Accessories

Furnishings, Fixtures & Appliances

Gambling

Home Improvement Retail

Internet Retail

Leisure

Lodging

Luxury Goods

Packaging & Containers

Personal Services

Recreational Vehicles

Residential Construction

Resorts & Casinos

Restaurants

Specialty Retail

Textile Manufacturing

Travel Services

Consumer Staples

Beverages - Brewers

Beverages - Non-Alcoholic

Beverages - Wineries & Distilleries

Confectioners

Discount Stores

Education & Training Services

Farm Products

Food Distribution

Grocery Stores

Household & Personal Products

Packaged Foods

Tobacco

Energy

Oil & Gas Drilling

Oil & Gas Equipment & Services

Oil & Gas Exploration & Production

Oil & Gas Integrated

Oil & Gas Midstream

Oil & Gas Refining & Marketing

Thermal Coal

Uranium

Financials

Asset Management

Banks - Diversified

Banks - Regional

Capital Markets

Credit Services

Diversified Insurance

Financial Conglomerates

Financial Data & Stock Exchanges

Insurance Brokers

Life Insurance

Mortgage Finance

Property & Casualty Insurance

Reinsurance

Shell Companies

Specialty - Insurance

Healthcare

Biotechnology

Diagnostics & Research

Drug Manufacturers - General

Drug Manufacturers - Specialty & Generic

Healthcare Plans

Health Information Services

Medical Care Facilities

Medical Devices

Medical Distribution

Medical Instruments & Supplies

Pharmaceutical Retailers

Industrials

Aerospace & Defense

Airlines

Airports & Air Services

Building Products & Equipment

Business Equipment & Supplies

Conglomerates

Consulting Services

Electrical Equipment & Parts

Engineering & Construction

Farm & Heavy Construction Machinery

Industrial Distribution

Infrastructure Operations

Integrated Freight & Logistics

Marine Shipping

Metal Fabrication

Pollution & Treatment Controls

Railroads

Rental & Leasing Services

Security & Protection Services

Specialty Business Services

Specialty Industrial Machinery

Staffing & Employment Services

Tools & Accessories

Trucking

Waste Management

Materials

Agricultural Inputs

Aluminum

Building Materials

Chemicals

Coking Coal

Copper

Gold

Lumber & Wood Production

Other Industrial Metals & Mining

Other Precious Metals & Mining

Paper & Paper Products

Silver

Specialty Chemicals

Steel

Real Estate

Diversified REIT

Healthcare Facilities REIT

Hotel & Motel REIT

Industrial REIT

Mortgage REIT

Office REIT

Real Estate Development

Real Estate Diversified

Real Estate Services

Residential REIT

Retail REIT

Specialty REIT

Technology

Communication Equipment

Computer Hardware

Consumer Electronics

Electronic Components

Electronics & Computer Distribution

Information Technology Services

Scientific & Technical Instruments

Semiconductor Equipment & Materials

Semiconductors

Software - Application

Software - Infrastructure

Solar

Utilities

Diversified Utilities

Electric Utilities

Gas Utilities

Independent Power Producers

Renewable Electricity

Water Utilities

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
201	201 HCA Healthcare HCA $95.2B	$9.16M	0.14%	+119,000	New	+$9.16M
202	202 Energy Select Sector SPDR Fund XLE $27.6B	$9.13M	0.13%	+133,847	New	+$9.13M
203	203 Netflix NFLX $514B	$9.12M	0.13%	+99,700	New	+$9.12M
204	DISH 204 DELISTED DISH Network Corp. DISH	$9.07M	0.13%	+173,100	New	+$9.07M
205	205 CDW CDW $21.3B	$9.06M	0.13%	+226,100	New	+$9.06M
206	SJR 206 DELISTED Shaw Communications Inc. SJR	$9.06M	0.13%	+474,500	New	+$9.06M
207	207 PPG Industries PPG $24.7B	$9.01M	0.13%	+86,500	New	+$9.01M
208	208 PG&E PCG $33.9B	$9M	0.13%	+140,800	New	+$9M
209	ENH 209 DELISTED Endurance Specialty Holdings Ltd ENH	$8.98M	0.13%	+133,721	New	+$8.98M
210	210 Lowe's Companies LOW $144B	$8.96M	0.13%	+113,200	New	+$8.96M
211	211 TC Energy TRP $53.9B	$8.96M	0.13%	+199,000	New	+$8.96M
212	212 APA Corp APA $8.39B	$8.81M	0.13%	+158,200	New	+$8.81M
213	RPAI 213 DELISTED RETAIL PROPERTIES OF AMERICA, INC. RPAI	$8.8M	0.13%	+520,530	New	+$8.8M
214	214 Equity Lifestyle Properties ELS $11.6B	$8.79M	0.13%	+109,856	New	+$8.79M
215	215 LKQ Corp LKQ $8.29B	$8.79M	0.13%	+277,200	New	+$8.79M
216	COL 216 DELISTED Rockwell Collins COL	$8.62M	0.13%	+101,200	New	+$8.62M
217	217 Carnival Corp CCL $42B	$8.38M	0.12%	+189,600	New	+$8.38M
218	218 Assurant AIZ $10.8B	$8.36M	0.12%	+96,800	New	+$8.36M
219	219 Devon Energy DVN $23B	$8.32M	0.12%	+229,500	New	+$8.32M
220	220 Skyworks Solutions SWKS $10.8B	$8.29M	0.12%	+131,000	New	+$8.29M
221	TCO 221 DELISTED Taubman Centers Inc. TCO	$8.29M	0.12%	+111,700	New	+$8.29M
222	222 Polaris PII $3.09B	$8.24M	0.12%	+100,800	New	+$8.24M
223	VMW 223 DELISTED VMware, Inc VMW	$8.21M	0.12%	+143,500	New	+$8.21M
224	224 Mastercard MA $533B	$8.13M	0.12%	+92,300	New	+$8.13M
225	225 Omega Healthcare OHI $12.5B	$8.12M	0.12%	+239,251	New	+$8.12M