CIK: 0001081019
Total reported value
$94.5B
Reporting period: 2026-03-31 · Number of holdings: 2925
CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM disclosed 2925 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $94.5B and a quarterly turnover rate of 15.8%.
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California State Teachers Retirement System's disclosed holdings carry a Herfindahl concentration index of 0.016 — mathematically equivalent to about 63 equally-sized positions, well below its 2925 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 6.71), 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.
Sector classification currently covers about 67% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Trim MSFT
-2.3% -$1.3B
Trim TSLA
-2.3% -$379.7M
Trim AAPL
-3.1% -$595.1M
Add XOM
-3.9% $217.2M
Trim NVDA
-2.3% -$608.3M
Trim AMZN
-2.2% -$404.0M
CalSTRS is systematically stripping beta from the consensus trade by trimming every single Magnificent 7 name simultaneously. This is capital rotation at the portfolio level—a strategic de-concentration move that telegraphs a risk budget constraint being hit, not an active stock call. The intent is to fortify a portfolio that became dangerously top-heavy against its own diversification mandate.
The regime shift CalSTRS is pricing in is an end to the momentum concentration cycle. By selling the very assets that powered the index to new highs, they are betting on multiple compression in the AI factor and a broadening of market leadership. The opposing thesis is the reflexivity of passive flows: the S&P 500's capitalization weighting forces buyers into these names irrespective of price, making this trim a tactical loser against the relentless bid from the very system CalSTRS itself belongs to.
The 100/100 diversification score is architectural fiction when 40% of capital sits in a single sector. The structural vulnerability is a correlation cliff: the portfolio is constructed for beta harvesting, not active risk management, leaving it entirely exposed to a liquidity event where every AI-correlated name drops simultaneously across all 2,925 holdings. The low turnover guarantees they would be selling into the vacuum, not trimming winners.
This overview is machine-generated from public regulatory data and describes past filings only — it does not constitute financial advice.
Showing top 200 holdings (of 2925 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | Stock-Tech | 6.77% | -0.24% | -2.35% | |
| 2 | AAPL | Apple INC | Stock-Tech | 5.98% | -0.27% | -3.08% | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 4.20% | -1.11% | -2.29% | |
| 4 | AMZN | Amazon.com INC | Stock-Consumer Disc | 3.21% | -0.23% | -2.20% | |
| 5 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 2.70% | -0.14% | -2.31% | |
| 6 | AVGO | Broadcom INC | Stock-Tech | 2.23% | -0.18% | -2.08% | |
| 7 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 2.21% | -0.14% | -2.67% | |
| 8 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 2.04% | +0.01% | -0.07% | |
| 9 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.99% | -0.23% | -2.09% | |
| 10 | TSLA | Tesla INC | Stock-Consumer Disc | 1.68% | -0.29% | -2.34% | |
| 11 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.29% | -0.08% | -3.00% | |
| 12 | LLY | Eli Lilly & Co | Stock-Healthcare | 1.18% | -0.16% | -2.39% | |
| 13 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 1.05% | -0.02% | -2.64% | |
| 14 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.97% | +0.18% | -2.24% | |
| 15 | WMT | Walmart INC | Stock-Consumer Staples | 0.88% | +0.12% | -2.31% | |
| 16 | XOM | Exxon Mobil CORP | Stock-Energy | 0.88% | +0.27% | -3.92% | |
| 17 | V | Visa Inc-class A Shares | Stock-Financials | 0.82% | -0.11% | -2.86% | |
| 18 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.72% | +0.11% | -2.17% | |
| 19 | MA | Mastercard INC - A | Stock-Financials | 0.68% | -0.08% | -2.75% | |
| 20 | NFLX | Netflix INC | Stock-Comm Services | 0.66% | — | -2.58% | |
| 21 | ABBV | Abbvie INC | Stock-Healthcare | 0.62% | — | -2.27% | |
| 22 | MU | Micron Technology INC | Stock-Tech | 0.61% | +0.11% | -2.22% | |
| 23 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 0.55% | — | -2.51% | |
| 24 | BAC | Bank Of America CORP | Stock-Financials | 0.54% | -0.06% | -4.18% | |
| 25 | PLTR | Palantir Technologies Inc-a | Stock-Tech | 0.53% | -0.09% | -1.94% | |
| 26 | AMD | Advanced Micro Devices | Stock-Tech | 0.53% | — | -2.14% | |
| 27 | CAT | Caterpillar INC | Stock-Industrials | 0.53% | +0.11% | -2.71% | |
| 28 | KO | Coca-cola Co/the | Stock-Consumer Staples | 0.53% | — | -2.23% | |
| 29 | HD | Home Depot INC | Stock-Consumer Disc | 0.52% | — | -2.43% | |
| 30 | CSCO | Cisco Systems INC | Stock-Tech | 0.49% | — | -2.43% | |
| 31 | MRK | Merck & Co. INC. | Stock-Healthcare | 0.49% | — | -2.80% | |
| 32 | CVX | Chevron CORP | Stock-Energy | 0.49% | +0.14% | -3.73% | |
| 33 | GE | General Electric | Stock-Industrials | 0.48% | — | -2.75% | |
| 34 | AMAT | Applied Materials INC | Stock-Tech | 0.44% | +0.12% | -2.76% | |
| 35 | LRCX | Lam Research CORP | Stock-Tech | 0.43% | +0.09% | -2.75% | |
| 36 | RTX | Rtx CORP | Stock-Industrials | 0.42% | — | -2.43% | |
| 37 | GS | Goldman Sachs Group INC | Stock-Financials | 0.41% | — | -3.16% | |
| 38 | ORCL | Oracle CORP | Stock-Tech | 0.40% | -0.12% | -1.74% | |
| 39 | WFC | Wells Fargo & Co | Stock-Financials | 0.40% | -0.06% | -3.82% | |
| 40 | UNH | Unitedhealth Group INC | Stock-Healthcare | 0.39% | -0.07% | -2.38% | |
| 41 | GEV | GE Vernova INC | Stock-Industrials | 0.38% | +0.10% | -2.77% | |
| 42 | MCD | Mcdonald's CORP | Stock-Consumer Disc | 0.37% | — | -2.58% | |
| 43 | IBM | Intl Business Machines CORP | Stock-Tech | 0.36% | -0.07% | -2.16% | |
| 44 | VZ | Verizon Communications INC | Stock-Comm Services | 0.35% | +0.07% | -2.30% | |
| 45 | PEP | Pepsico INC | Stock-Consumer Staples | 0.35% | — | -2.35% | |
| 46 | T | At&t INC | Stock-Comm Services | 0.34% | — | -3.04% | |
| 47 | C | Citigroup INC | Stock-Financials | 0.33% | — | -4.52% | |
| 48 | INTC | Intel CORP | Stock-Tech | 0.32% | — | -2.44% | |
| 49 | KLAC | Kla CORP | Stock-Tech | 0.31% | — | -2.55% | |
| 50 | MS | Morgan Stanley | Stock-Financials | 0.31% | — | -3.23% |
Performance for Q3 2026
+3.3%
Performance Last 4 Quarters
+21.9%
Based on 75% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 2925 | $94.5B | 16 | |
| 2025-12-31 | 3054 | $100.0B | 12 | |
| 2025-09-30 | 3046 | $97.5B | 24 | |
| 2025-06-30 | 2957 | $90.0B | 0 | |
| 2025-03-31 | 3055 | $80.9B | 14 | |
| 2024-12-31 | 3065 | $85.7B | 14 | |
| 2024-09-30 | 3076 | $85.7B | 11 | |
| 2024-06-30 | 3086 | $81.6B | 90 | |
| 2024-03-31 | 3045 | $79.1B | 0 | |
| 2023-12-31 | 3072 | $72.5B | 0 | |
| 2023-09-30 | 3101 | $65.1B | 0 | |
| 2023-06-30 | 3109 | $70.8B | 0 | |
| 2023-03-31 | 3057 | $67.2B | 0 | |
| 2022-12-31 | 3078 | $63.6B | 0 | |
| 2022-09-30 | 3100 | $59.2B | 0 | |
| 2022-06-30 | 3124 | $63.2B | 0 | |
| 2022-03-31 | 3207 | $76.0B | 0 | |
| 2021-12-31 | 3244 | $85.6B | 0 | |
| 2021-09-30 | 3155 | $77.9B | 0 | |
| 2021-06-30 | 3068 | $79.6B | 12 | |
| 2021-03-31 | 3105 | $75.7B | 11 | |
| 2020-12-31 | 3077 | $71.5B | 16 | |
| 2020-09-30 | 3046 | $62.3B | 14 | |
| 2020-06-30 | 3017 | $56.8B | 23 | |
| 2020-03-31 | 2993 | $46.4B | 26 | |
| 2019-12-31 | 3007 | $58.8B | 17 | |
| 2019-09-30 | 3019 | $51.3B | 10 | |
| 2019-06-30 | 3027 | $50.7B | 10 | |
| 2019-03-31 | 2992 | $48.8B | 15 | |
| 2018-12-31 | 3022 | $43.9B | 19 | |
| 2018-09-30 | 3036 | $51.5B | 11 | |
| 2018-06-30 | 3019 | $48.0B | 13 | |
| 2018-03-31 | 2974 | $46.7B | 12 | |
| 2017-12-31 | 2969 | $48.6B | 12 | |
| 2017-09-30 | 2988 | $45.2B | 10 | |
| 2017-06-30 | 3008 | $46.9B | 10 | |
| 2017-03-31 | 2973 | $49.5B | 10 | |
| 2016-12-31 | 2978 | $49.1B | 11 | |
| 2016-09-30 | 2966 | $48.5B | 11 | |
| 2016-06-30 | 2999 | $46.4B | 12 | |
| 2016-03-31 | 2974 | $46.9B | 18 | |
| 2015-12-31 | 3014 | $41.0B | 15 | |
| 2015-09-30 | 3025 | $38.4B | 14 | |
| 2015-06-30 | 3002 | $41.4B | 12 | |
| 2015-03-31 | 3032 | $42.2B | 11 | |
| 2014-12-31 | 3051 | $42.6B | 13 | |
| 2014-09-30 | 3024 | $40.3B | 9 | |
| 2014-06-30 | 3009 | $39.8B | 12 | |
| 2014-03-31 | 3032 | $37.8B | 8 | |
| 2013-12-31 | 3011 | $37.0B | 13 | |
| 2013-09-30 | 2998 | $33.6B | 12 | |
| 2013-06-30 | 2976 | $30.8B | 11 |
California State Teachers Retirement System's most significant position changes for 2026-03-31: New buy: Blue Owl Technology Finance (OTF); Trim: Microsoft CORP (MSFT) — shares -2.29%; Trim: Tesla INC (TSLA) — shares -2.34%; Trim: Apple INC (AAPL) — shares -3.08%; Trim: Exxon Mobil CORP (XOM) — shares -3.92%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | XOM | Exxon Mobil CORP | +0.3% | -3.92% | Trim |
| 2 | JNJ | Johnson & Johnson | +0.2% | -2.24% | Trim |
| 3 | CVX | Chevron CORP | +0.1% | -3.73% | Trim |
| 4 | AMAT | Applied Materials INC | +0.1% | -2.76% | Trim |
| 5 | WMT | Walmart INC | +0.1% | -2.31% | Trim |
| 6 | CAT | Caterpillar INC | +0.1% | -2.71% | Trim |
| 7 | COST | Costco Wholesale CORP | +0.1% | -2.17% | Trim |
| 8 | MU | Micron Technology INC | +0.1% | -2.22% | Trim |
| 9 | GEV | GE Vernova INC | +0.1% | -2.77% | Trim |
| 10 | LRCX | Lam Research CORP | +0.1% | -2.75% | Trim |
| 11 | SNDK | Sandisk CORP | +0.1% | +22.83% | Add |
| 12 | SLB | Slb LTD | +0.1% | -1.18% | Trim |
| 13 | VZ | Verizon Communications INC | +0.1% | -2.30% | Trim |
| 14 | IVV | Ishares Core S&p 500 ETF | 0% | -0.07% | Trim |
| 15 | BRK-B | Berkshire Hathaway Inc-cl B | 0% | -2.64% | Trim |
| 16 | TMO | Thermo Fisher Scientific INC | 0% | -2.73% | Trim |
| 17 | DIS | Walt Disney Co/the | 0% | -2.99% | Trim |
| 18 | ABT | Abbott Laboratories | -0.1% | -2.47% | Trim |
| 19 | BKNG | Booking Holdings INC | -0.1% | -2.76% | Trim |
| 20 | COF | Capital One Financial CORP | -0.1% | -2.83% | Trim |
| 21 | BAC | Bank Of America CORP | -0.1% | -4.18% | Trim |
| 22 | WFC | Wells Fargo & Co | -0.1% | -3.82% | Trim |
| 23 | ACN | Accenture plc | -0.1% | -3.19% | Trim |
| 24 | ISRG | Intuitive Surgical INC | -0.1% | -3.15% | Trim |
| 25 | AXP | American Express Co | -0.1% | -3.37% | Trim |
| 26 | UNH | Unitedhealth Group INC | -0.1% | -2.38% | Trim |
| 27 | IBM | Intl Business Machines CORP | -0.1% | -2.16% | Trim |
| 28 | NOW | Servicenow INC | -0.1% | -2.75% | Trim |
| 29 | BSX | Boston Scientific CORP | -0.1% | -2.45% | Trim |
| 30 | QCOM | Qualcomm INC | -0.1% | -2.97% | Trim |
| 31 | ADBE | Adobe INC | -0.1% | -2.32% | Trim |
| 32 | JPM | Jpmorgan Chase & Co | -0.1% | -3.00% | Trim |
| 33 | MA | Mastercard INC - A | -0.1% | -2.75% | Trim |
| 34 | PLTR | Palantir Technologies Inc-a | -0.1% | -1.94% | Trim |
| 35 | APP | Applovin Corp-class A | -0.1% | -2.64% | Trim |
| 36 | INTU | Intuit INC | -0.1% | -2.70% | Trim |
| 37 | V | Visa Inc-class A Shares | -0.1% | -2.86% | Trim |
| 38 | CRM | Salesforce INC | -0.1% | -3.84% | Trim |
| 39 | ORCL | Oracle CORP | -0.1% | -1.74% | Trim |
| 40 | GOOGL | Alphabet Inc-cl A | -0.1% | -2.31% | Trim |
| 41 | GOOG | Alphabet Inc-cl C | -0.1% | -2.67% | Trim |
| 42 | LLY | Eli Lilly & Co | -0.2% | -2.39% | Trim |
| 43 | AVGO | Broadcom INC | -0.2% | -2.08% | Trim |
| 44 | AMZN | Amazon.com INC | -0.2% | -2.20% | Trim |
| 45 | META | Meta Platforms Inc-class A | -0.2% | -2.09% | Trim |
| 46 | NVDA | Nvidia CORP | -0.2% | -2.35% | Trim |
| 47 | AAPL | Apple INC | -0.3% | -3.08% | Trim |
| 48 | TSLA | Tesla INC | -0.3% | -2.34% | Trim |
| 49 | MSFT | Microsoft CORP | -1.1% | -2.29% | Trim |
| 50 | OTF | Blue Owl Technology Finance | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-18 | 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 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-15 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-03-18 | Amendment | View on EDGAR |
| 2024-12-31 | 2025-02-14 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2025-04-04 | Amendment | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2025-04-08 | Amendment | View on EDGAR |
| 2024-06-30 | 2024-08-14 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-16 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-13 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-14 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-21 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-09 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-14 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-21 | 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 | 2021-05-18 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-16 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-17 | 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 | Amendment | View on EDGAR |
| 2019-09-30 | 2019-11-14 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-14 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-09 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-13 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-14 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-14 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-15 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-14 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-13 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-15 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-12 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-14 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-09 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-01 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-16 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-01-29 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-10-30 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-03 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-07 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-11 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-10 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-13 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-08 | Amendment | View on EDGAR |
| 2014-03-31 | 2014-05-05 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-10 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-18 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-07-29 | 13F-HR | View on EDGAR |
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