CIK: 0001007280
Total reported value
$30.9B
Reporting period: 2026-03-31 · Number of holdings: 2345
PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO disclosed 2345 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $30.9B and a quarterly turnover rate of 19.9%.
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Public Employees Retirement System Of Ohio's disclosed holdings carry a Herfindahl concentration index of 0.012 — mathematically equivalent to about 82 equally-sized positions, well below its 2345 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 5.22), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Trim MSFT
-0.2% -$354.8M
Trim NVDA
-10.4% -$333.3M
Add HON
+255.1% $155.6M
Add GLDM
+2167.0% $134.9M
Add JPM
+43.8% $111.4M
Trim IVV
-11.0% -$120.9M
PERS Ohio is rotating capital from mega-cap tech and broad market beta into underweighted healthcare, industrials, gold, and financials. This is a deliberate capital rotation to reduce concentration risk in the S&P’s tech-heavy leadership, not a tactical alpha hunt — they are selling winners to buy laggards.
The macro bet here is a regime shift where the AI-driven growth premium erodes and value, real assets, and financials regain pricing power. By trimming MSFT, NVDA, AAPL, and the S&P ETF (IVV) while adding AZN, HON, GLDM, and JPM, they are signaling peak-momentum conviction. The opposing thesis is that AI demand remains structurally underpriced, making this a premature rotation that will underperform if growth persists and mega-cap margins expand further.
The 2,302-position portfolio suffers from extreme diversification that dilutes conviction to near-zero — with a coefficient of variation above five, the signal in any single bet is washed out by noise. The gold (GLDM) build from near-zero to a 0.45% stake is a swing-for-the-fences commodity bet that exposes them to reflexivity risk: if the dollar strengthens or real rates spike, that hedge becomes a drag, and the scale of the move relative to their passive core suggests a tactical overlay that could backfire if inflation expectations shift further.
Sourced and summarized by AI from public SEC filings, limited to historical activity. Not investment guidance.
Showing top 200 holdings (of 2345 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | Stock-Tech | 5.55% | -0.85% | -10.44% | |
| 2 | AAPL | Apple INC | Stock-Tech | 5.09% | -0.23% | -1.30% | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 3.71% | -0.97% | -0.21% | |
| 4 | AMZN | Amazon.com INC | Stock-Consumer Disc | 2.69% | -0.19% | -0.00% | |
| 5 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 2.31% | -0.13% | -0.58% | |
| 6 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 2.24% | +0.27% | +20.10% | |
| 7 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 2.20% | -0.30% | -10.96% | |
| 8 | AVGO | Broadcom INC | Stock-Tech | 1.91% | -0.15% | -0.02% | |
| 9 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.67% | -0.20% | -0.21% | |
| 10 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.51% | +0.40% | +43.81% | |
| 11 | TSLA | Tesla INC | Stock-Consumer Disc | 1.39% | -0.23% | +0.20% | |
| 12 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 1.21% | -0.05% | -2.44% | |
| 13 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.97% | -0.12% | +0.32% | |
| 14 | XOM | Exxon Mobil CORP | Stock-Energy | 0.95% | +0.30% | +0.65% | |
| 15 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 0.91% | — | -8.25% | |
| 16 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.84% | +0.14% | -2.53% | |
| 17 | MA | Mastercard INC - A | Stock-Financials | 0.77% | -0.08% | +0.33% | |
| 18 | WMT | Walmart INC | Stock-Consumer Staples | 0.75% | — | -1.69% | |
| 19 | V | Visa Inc-class A Shares | Stock-Financials | 0.70% | -0.09% | -0.11% | |
| 20 | WELL | Welltower INC | Stock-Real Estate | 0.68% | — | -12.28% | |
| 21 | HON | Honeywell International INC | Stock-Industrials | 0.66% | +0.50% | +255.11% | |
| 22 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.63% | +0.09% | -3.02% | |
| 23 | PLD | Prologis INC | Stock-Real Estate | 0.62% | — | -12.42% | |
| 24 | AZN | AstraZeneca PLC | Stock-Healthcare | 0.60% | +0.60% | NEW | |
| 25 | NFLX | Netflix INC | Stock-Comm Services | 0.55% | — | -0.15% | |
| 26 | CVX | Chevron CORP | Stock-Energy | 0.53% | +0.15% | -0.85% | |
| 27 | MU | Micron Technology INC | Stock-Tech | 0.53% | +0.10% | -0.20% | |
| 28 | ABBV | Abbvie INC | Stock-Healthcare | 0.51% | — | +0.04% | |
| 29 | EQIX | Equinix INC | Stock-Real Estate | 0.48% | — | -12.38% | |
| 30 | ORCL | Oracle CORP | Stock-Tech | 0.47% | — | +45.46% | |
| 31 | GLDM | Spdr Gold Minishares Trust | ETF-Commodities | 0.45% | +0.43% | +2166.97% | |
| 32 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 0.44% | — | +0.20% | |
| 33 | CAT | Caterpillar INC | Stock-Industrials | 0.44% | +0.10% | +0.05% | |
| 34 | AMD | Advanced Micro Devices | Stock-Tech | 0.43% | — | +0.48% | |
| 35 | AEM | Agnico Eagle Mines LTD | Stock-Materials | 0.43% | — | -5.71% | |
| 36 | CSCO | Cisco Systems INC | Stock-Tech | 0.43% | — | -3.55% | |
| 37 | HD | Home Depot INC | Stock-Consumer Disc | 0.43% | — | +0.47% | |
| 38 | PLTR | Palantir Technologies Inc-a | Stock-Tech | 0.42% | -0.08% | -0.33% | |
| 39 | BAC | Bank Of America CORP | Stock-Financials | 0.42% | — | -0.82% | |
| 40 | MRK | Merck & Co. INC. | Stock-Healthcare | 0.41% | — | -1.33% | |
| 41 | LRCX | Lam Research CORP | Stock-Tech | 0.40% | +0.08% | -2.86% | |
| 42 | GE | General Electric | Stock-Industrials | 0.39% | — | -0.07% | |
| 43 | KO | Coca-cola Co/the | Stock-Consumer Staples | 0.38% | — | -0.03% | |
| 44 | AMAT | Applied Materials INC | Stock-Tech | 0.38% | +0.09% | -2.72% | |
| 45 | TTE | Totalenergies Se | Stock-Other | 0.38% | +0.16% | +14.66% | |
| 46 | LIN | Linde plc | Stock-Materials | 0.37% | — | +2.39% | |
| 47 | GEV | GE Vernova INC | Stock-Industrials | 0.36% | +0.08% | -6.33% | |
| 48 | RTX | Rtx CORP | Stock-Industrials | 0.34% | — | +1.50% | |
| 49 | PM | Philip Morris International | Stock-Consumer Staples | 0.34% | — | -0.57% | |
| 50 | GS | Goldman Sachs Group INC | Stock-Financials | 0.34% | — | +1.33% |
Performance for Q3 2026
+3.1%
Performance Last 4 Quarters
+21.8%
Based on 74% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 2345 | $30.9B | 20 | |
| 2025-12-31 | 2351 | $32.1B | 14 | |
| 2025-09-30 | 2345 | $31.5B | 28 | |
| 2025-06-30 | 2357 | $29.7B | 0 | |
| 2025-03-31 | 2330 | $27.5B | 100 | |
| 2024-12-31 | 2390 | $29.1B | 0 | |
| 2024-09-30 | 2208 | $23.4B | 0 | |
| 2024-06-30 | 1999 | $25.6B | 0 | |
| 2024-03-31 | 1980 | $25.6B | 0 | |
| 2023-12-31 | 1973 | $25.0B | 0 | |
| 2023-09-30 | 1980 | $22.4B | 0 | |
| 2023-06-30 | 1989 | $24.8B | — | |
| 2023-03-31 | 2003 | $24.0B | — | |
| 2022-12-31 | 1979 | $23.1B | — | |
| 2022-09-30 | 2032 | $22.2B | 0 | |
| 2022-06-30 | 2012 | $23.6B | 0 | |
| 2022-03-31 | 2014 | $28.3B | 0 | |
| 2021-12-31 | 1972 | $29.8B | 0 | |
| 2021-09-30 | 1990 | $28.1B | 0 | |
| 2021-06-30 | 1983 | $28.3B | 94 | |
| 2021-03-31 | 1975 | $25.2B | 15 | |
| 2020-12-31 | 1940 | $22.3B | 27 | |
| 2020-09-30 | 1916 | $18.3B | 20 | |
| 2020-06-30 | 1912 | $17.5B | 23 | |
| 2020-03-31 | 1883 | $14.5B | 33 | |
| 2019-12-31 | 1870 | $19.3B | 16 | |
| 2019-09-30 | 1956 | $18.8B | 13 | |
| 2019-06-30 | 1943 | $18.6B | 15 | |
| 2019-03-31 | 1909 | $19.1B | 17 | |
| 2018-12-31 | 1773 | $17.2B | 22 | |
| 2018-09-30 | 1852 | $20.3B | 15 | |
| 2018-06-30 | 1867 | $19.8B | 16 | |
| 2018-03-31 | 1851 | $19.2B | 16 | |
| 2017-12-31 | 1843 | $20.4B | 14 | |
| 2017-09-30 | 1849 | $19.3B | 14 | |
| 2017-06-30 | 1859 | $18.2B | 12 | |
| 2017-03-31 | 1820 | $17.8B | 6 | |
| 2016-12-31 | 1822 | $17.8B | 19 | |
| 2016-09-30 | 1853 | $16.3B | 15 | |
| 2016-06-30 | 1814 | $15.5B | 16 | |
| 2016-03-31 | 1812 | $15.2B | 18 | |
| 2015-12-31 | 1825 | $16.3B | 18 | |
| 2015-09-30 | 1844 | $15.8B | 18 | |
| 2015-06-30 | 1771 | $17.4B | 20 | |
| 2015-03-31 | 1834 | $17.5B | 23 | |
| 2014-12-31 | 1775 | $17.2B | 21 | |
| 2014-09-30 | 1815 | $16.9B | 13 | |
| 2014-06-30 | 1796 | $17.8B | 15 | |
| 2014-03-31 | 1741 | $17.2B | 15 | |
| 2013-12-31 | 1733 | $18.7B | 26 | |
| 2013-09-30 | 1842 | $18.6B | 14 | |
| 2013-06-30 | 1454 | $17.7B | 0 |
Public Employees Retirement System Of Ohio's most significant position changes for 2026-03-31: New buy: AstraZeneca PLC (AZN); New buy: Spdr Gold Shares (GLD); New buy: Bp Plc-spons Adr (BP); New buy: Novo-nordisk A/s-spons Adr (NVO); Sold out: Astrazeneca Plc-spons Adr (AZNN).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | HON | Honeywell International INC | +0.5% | +255.11% | Add |
| 2 | GLDM | Spdr Gold Minishares Trust | +0.4% | +2166.97% | Add |
| 3 | JPM | Jpmorgan Chase & Co | +0.4% | +43.81% | Add |
| 4 | XOM | Exxon Mobil CORP | +0.3% | +0.65% | Add |
| 5 | GOOG | Alphabet Inc-cl C | +0.3% | +20.10% | Add |
| 6 | IAU | Ishares Gold Trust | +0.2% | +109.12% | Add |
| 7 | TTE | Totalenergies Se | +0.2% | +14.66% | Add |
| 8 | CVX | Chevron CORP | +0.2% | -0.85% | Trim |
| 9 | JNJ | Johnson & Johnson | +0.1% | -2.53% | Trim |
| 10 | CNQ | Canadian Natural Resources | +0.1% | +183.39% | Add |
| 11 | CAT | Caterpillar INC | +0.1% | +0.05% | Add |
| 12 | MU | Micron Technology INC | +0.1% | -0.20% | Trim |
| 13 | IRM | Iron Mountain INC | +0.1% | +121.25% | Add |
| 14 | ARM | Arm Holdings Plc-adr | +0.1% | +141.41% | Add |
| 15 | AMAT | Applied Materials INC | +0.1% | -2.72% | Trim |
| 16 | COST | Costco Wholesale CORP | +0.1% | -3.02% | Trim |
| 17 | VICI | Vici Properties INC | +0.1% | +91.99% | Add |
| 18 | GEV | GE Vernova INC | +0.1% | -6.33% | Trim |
| 19 | LRCX | Lam Research CORP | +0.1% | -2.86% | Trim |
| 20 | KGC | Kinross Gold CORP | +0.1% | +328.84% | Add |
| 21 | SCCO | Southern Copper CORP | +0.1% | +305.13% | Add |
| 22 | SNDK | Sandisk CORP | +0.1% | +19.26% | Add |
| 23 | BRK-B | Berkshire Hathaway Inc-cl B | -0.1% | -2.44% | Trim |
| 24 | NU | Nu Holdings Ltd. | -0.1% | -24.05% | Trim |
| 25 | UBS | UBS Group AG | -0.1% | -2.77% | Trim |
| 26 | SHOP | Shopify INC - Class A | -0.1% | -51.40% | Trim |
| 27 | BSX | Boston Scientific CORP | -0.1% | -3.39% | Trim |
| 28 | MA | Mastercard INC - A | -0.1% | +0.33% | Add |
| 29 | SPOT | Spotify Technology S.A. | -0.1% | -28.51% | Trim |
| 30 | PLTR | Palantir Technologies Inc-a | -0.1% | -0.33% | Trim |
| 31 | INTU | Intuit INC | -0.1% | -2.62% | Trim |
| 32 | V | Visa Inc-class A Shares | -0.1% | -0.11% | Trim |
| 33 | CRM | Salesforce INC | -0.1% | -2.03% | Trim |
| 34 | APP | Applovin Corp-class A | -0.1% | -0.82% | Trim |
| 35 | LLY | Eli Lilly & Co | -0.1% | +0.32% | Add |
| 36 | GOOGL | Alphabet Inc-cl A | -0.1% | -0.58% | Trim |
| 37 | AVGO | Broadcom INC | -0.2% | -0.02% | Trim |
| 38 | SE | Sea Ltd-adr | -0.2% | -47.90% | Trim |
| 39 | AMZN | Amazon.com INC | -0.2% | -0.00% | Trim |
| 40 | META | Meta Platforms Inc-class A | -0.2% | -0.21% | Trim |
| 41 | AAPL | Apple INC | -0.2% | -1.30% | Trim |
| 42 | TSLA | Tesla INC | -0.2% | +0.20% | Add |
| 43 | IVV | Ishares Core S&p 500 ETF | -0.3% | -10.96% | Trim |
| 44 | NVDA | Nvidia CORP | -0.9% | -10.44% | Trim |
| 45 | MSFT | Microsoft CORP | -1% | -0.21% | Trim |
| 46 | AZN | AstraZeneca PLC | — | NEW | New buy |
| 47 | GLD | Spdr Gold Shares | — | NEW | New buy |
| 48 | BP | Bp Plc-spons Adr | — | NEW | New buy |
| 49 | NVO | Novo-nordisk A/s-spons Adr | — | NEW | New buy |
| 50 | AZNN | Astrazeneca Plc-spons Adr | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-14 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-17 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-07-15 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-14 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-19 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-15 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-14 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-15 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-16 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-12-19 | Amendment | View on EDGAR |
| 2023-09-30 | 2023-11-15 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-12-19 | Amendment | View on EDGAR |
| 2023-06-30 | 2023-08-15 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-12-19 | Amendment | View on EDGAR |
| 2023-03-31 | 2023-05-15 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-12-19 | Amendment | View on EDGAR |
| 2022-12-31 | 2023-02-15 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-15 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-15 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-16 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-15 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-15 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-16 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-14 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-12 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-16 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-17 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-13 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-14 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-15 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-12 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-15 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-15 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-14 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-22 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-15 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-08 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-20 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-16 | Amendment | View on EDGAR |
| 2017-06-30 | 2017-08-16 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-25 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-23 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-18 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-22 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-16 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-18 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-13 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-13 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-13 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-17 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-12 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-25 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-15 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-14 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-15 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-21 | 13F-HR | View on EDGAR |
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