STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM

View all activity View 13F on SEC

Data as of Q4 2025

Institutional investor tracked via SEC 13F filings. Portfolio snapshot as of 2025-12-31.SEC EDGAR Source

Assets Under Management

$56.5B

Total Positions

2,073

New This Quarter

Filing Period

2025-12-31

Portfolio Allocation

Top holdings by portfolio weight

NVDA6.87%

AAPL6.23%

MSFT5.61%

AMZN3.47%

GOOGL2.86%

AVGO2.51%

GOOG2.33%

META2.26%

TSLA1.99%

BRK/B1.43%

Other11.43%

Position Outcomes

Best and worst performing positions by estimated return

Top Winners

HWM23Q held

Howmet Aerospace Inc

Avg $17.24 · $66.3M est. P&L

Est. P&L

+1104.40%

PWR29Q held

Quanta Services Inc

Avg $42.12 · $52.4M est. P&L

Est. P&L

+917.82%

APP15Q held

AppLovin Corp

Avg $70.97 · $132.3M est. P&L

Est. P&L

+877.45%

Top Losers

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Cost basis estimates based on full filing history using quarter-end prices. Actual transaction prices are not disclosed in 13F filings.

Top Holdings(Showing 25 of 2073 — sorted by value)

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Activity:

Stock	Shares	Value	Weight	Price Trend	Avg Buy	Est. P&L	Held	Conviction
NVDA NVIDIA Corp	20.8M	$3.9B	6.9%	—	$112.37	+66.90%	29 qtrs	Decreased 0
AAPL Apple Inc	13M	$3.5B	6.2%	—	$101.03	+170.04%	29 qtrs	Decreased 0
MSFT Microsoft Corp	6.6M	$3.2B	5.6%	—	$116.35	+318.98%	29 qtrs	Decreased 0
AMZN Amazon.com Inc	8.5M	$2B	3.5%	—	$113.35	+105.14%	29 qtrs	Decreased 0
GOOGL Alphabet Inc	5.2M	$1.6B	2.9%	—	$97.30	+222.56%	29 qtrs	Decreased 0
AVGO Broadcom Inc	4.1M	$1.4B	2.5%	—	$157.72	+121.82%	29 qtrs	Decreased 0
GOOG Alphabet Inc	4.2M	$1.3B	2.3%	—	$101.24	+210.68%	29 qtrs	Decreased 0
META Meta Platforms Inc	1.9M	$1.3B	2.3%	—	$158.48	+320.21%	29 qtrs	Decreased 0
TSLA Tesla Inc	2.5M	$1.1B	2.0%	—	$224.69	+102.25%	29 qtrs	Decreased 0
BRK/B Berkshire Hathaway Inc	1.6M	$809M	1.4%	—	—	—	29 qtrs	Decreased 0
JPM JPMORGAN CHASE & CO.	2.4M	$782.5M	1.4%	—	$86.23	+273.39%	29 qtrs	Decreased 0
LLY Eli Lilly & Co	711,590	$764.7M	1.4%	—	$135.00	+698.51%	29 qtrs	Decreased 0
V Visa Inc	1.5M	$528.7M	0.9%	—	$149.43	+136.15%	29 qtrs	Decreased 0
XOM Exxon Mobil Corp	3.8M	$459.3M	0.8%	—	$53.51	+124.60%	29 qtrs	Decreased 0
JNJ Johnson & Johnson	2.1M	$441.3M	0.8%	—	$111.08	+86.27%	29 qtrs	Decreased 0
WMT Walmart Inc	3.9M	$432.2M	0.8%	—	$53.73	+108.31%	29 qtrs	Decreased 0
MA Mastercard Inc	724,237	$413.5M	0.7%	—	$196.58	+193.29%	29 qtrs	Decreased 0
ABBV AbbVie Inc	1.6M	$359.5M	0.6%	—	$74.07	+207.71%	29 qtrs	Decreased 0
NFLX Netflix Inc	3.8M	$355.4M	0.6%	—	$87.11	+7.65%	29 qtrs	Increased 71
PLTR Palantir Technologies Inc	1.9M	$345.6M	0.6%	—	$32.51	+456.24%	19 qtrs	Decreased 0
COST Costco Wholesale Corp	395,544	$341.1M	0.6%	—	$228.53	+278.28%	29 qtrs	Decreased 0
BAC Bank of America Corp	6M	$329.9M	0.6%	—	$21.48	+157.37%	29 qtrs	Decreased 0
AMD Advanced Micro Devices Inc	1.4M	$305.6M	0.5%	—	$59.99	+258.96%	29 qtrs	Decreased 0
HD Home Depot Inc/The	880,286	$302.9M	0.5%	—	$161.28	+114.75%	29 qtrs	Decreased 0
PG Procter & Gamble Co/The	2.1M	$298M	0.5%	—	$81.32	+75.89%	29 qtrs	Decreased 0
Showing 25 of 2,073 results.PROUpgrade to see all →

Accumulation Streaks

Positions with 2+ consecutive quarters of increases — persistent directional conviction.

Security

APGAPI Group Corp

Q2 2024 → Q4 2025+159,741 shares+$6.8M

OWLBLUE OWL CAPITAL INC

Q2 2024 → Q4 2025+242,840 shares+$4.2M

TXRHTexas Roadhouse Inc

Q2 2024 → Q4 2025+22,141 shares+$5M

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Data sourced from SEC EDGAR 13F filings. Not financial advice. Full disclaimer