ER
Employees Retirement System of Texas 13F Filings Tracker & Latest Positions (Q2 2026)
Employees Retirement System of TexasCIK: 0001398739
Diversified strategyMomentum follower
Total reported value
$12.6B
Reporting period: 2026-06-30 · Number of holdings: 511
Employees Retirement System of Texas disclosed 511 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $12.6B and a quarterly turnover rate of 30.8%.
Browse other institutions with $10B to $100B AUMBrowse other institutions starting with "E"
Personality snowflake
- Concentration
- 10.98
- Portfolio Stability
- 30.75
- Momentum
- 100
- Sector conviction
- 55.19
- Diversification
- 100
- Sizing Uniformity
- 63.88
Employees Retirement System of Texas's disclosed holdings carry a Herfindahl concentration index of 0.027 — mathematically equivalent to about 36 equally-sized positions, well below its 511 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 3.61), 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.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govTrim IAU
-79.9% -$240.3M
Trim VGIT
0.0% -$13.3M
Add AMD
-1.6% $136.6M
Add MU
+465.0% $126.2M
New buy JNJ
Add WDC
+68.2% $125.1M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 511 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | VGIT | Vanguard Intermediate-term T | ETF-Other | 10.96% | -1.22% | — | |
| 2 | NVDA | Nvidia CORP | Stock-Tech | 5.20% | -0.19% | -7.52% | |
| 3 | AAPL | Apple Inc | Stock-Tech | 4.87% | +0.33% | +3.55% | |
| 4 | MSFT | Microsoft CORP | Stock-Tech | 3.82% | -0.63% | -6.20% | |
| 5 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 3.50% | +0.13% | -0.27% | |
| 6 | HYLB | Xtrackers Usd High Yield Cor | ETF-High Yield | 3.30% | -0.30% | — | |
| 7 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 3.02% | +0.81% | +22.42% | |
| 8 | AVGO | Broadcom Inc | Stock-Tech | 2.37% | +0.08% | -6.71% | |
| 9 | AMD | Advanced Micro Devices | Stock-Tech | 1.68% | +1.02% | -1.64% | |
| 10 | PANW | Palo Alto Networks Inc | Stock-Tech | 1.67% | +0.79% | -1.66% | |
| 11 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.58% | -0.01% | +10.58% | |
| 12 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.41% | +0.19% | +2.44% | |
| 13 | VGK | Vanguard Ftse Europe ETF | ETF-Other | 1.40% | -0.04% | — | |
| 14 | LLY | Eli Lilly & Co | Stock-Healthcare | 1.36% | -0.03% | -17.58% | |
| 15 | WDC | Western Digital CORP | Stock-Tech | 1.33% | +0.96% | +68.24% | |
| 16 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.31% | -0.01% | -1.66% | |
| 17 | MA | Mastercard Inc - A | Stock-Financials | 1.27% | +0.13% | +19.23% | |
| 18 | XOM | Exxon Mobil CORP | Stock-Energy | 1.25% | -0.49% | -1.64% | |
| 19 | V | Visa Inc-class A Shares | Stock-Financials | 1.20% | +0.03% | -0.34% | |
| 20 | TSLA | Tesla Inc | Stock-Consumer Disc | 1.15% | +0.01% | -2.40% | |
| 21 | BAC | Bank Of America CORP | Stock-Financials | 1.11% | +0.13% | +6.15% | |
| 22 | MU | Micron Technology Inc | Stock-Tech | 1.06% | +1.00% | +464.95% | |
| 23 | VEA | Vanguard Ftse Developed ETF | ETF-Other | 1.02% | +0.01% | — | |
| 24 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.99% | +0.99% | NEW | |
| 25 | FCX | Freeport-mcmoran Inc | Stock-Materials | 0.97% | +0.02% | +4.55% | |
| 26 | CAT | Caterpillar Inc | Stock-Industrials | 0.97% | +0.59% | +85.71% | |
| 27 | AMAT | Applied Materials Inc | Stock-Tech | 0.94% | +0.94% | NEW | |
| 28 | ABBV | Abbvie Inc | Stock-Healthcare | 0.90% | +0.03% | -1.67% | |
| 29 | XBI | Ss Spdr S&p Biotech ETF | ETF-Tech | 0.85% | +0.08% | -1.66% | |
| 30 | MS | Morgan Stanley | Stock-Financials | 0.84% | +0.18% | +11.01% | |
| 31 | ANET | Arista Networks Inc | Stock-Tech | 0.84% | +0.16% | -1.62% | |
| 32 | UNH | Unitedhealth Group Inc | Stock-Healthcare | 0.84% | +0.82% | +2448.48% | |
| 33 | HD | Home Depot Inc | Stock-Consumer Disc | 0.83% | -0.20% | -17.03% | |
| 34 | WMT | Walmart Inc | Stock-Consumer Staples | 0.82% | -0.34% | -14.41% | |
| 35 | PM | Philip Morris International | Stock-Consumer Staples | 0.81% | +0.75% | +1169.45% | |
| 36 | CDNS | Cadence Design Sys Inc | Stock-Tech | 0.78% | +0.02% | -16.80% | |
| 37 | SCHW | Schwab (charles) CORP | Stock-Financials | 0.78% | -0.10% | -1.63% | |
| 38 | NEM | Newmont CORP | Stock-Materials | 0.76% | -0.30% | -7.80% | |
| 39 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.75% | -0.27% | -13.56% | |
| 40 | PH | Parker Hannifin CORP | Stock-Industrials | 0.74% | -0.25% | -24.87% | |
| 41 | AME | Ametek Inc | Stock-Industrials | 0.73% | +0.09% | +11.43% | |
| 42 | FAST | Fastenal Co | Stock-Industrials | 0.72% | +0.06% | +16.12% | |
| 43 | FITB | Fifth Third Bancorp | Stock-Financials | 0.72% | +0.06% | -1.67% | |
| 44 | KO | Coca-cola Co/the | Stock-Consumer Staples | 0.70% | -0.16% | -16.82% | |
| 45 | ALLY | Ally Financial Inc | Stock-Financials | 0.67% | +0.03% | -1.67% | |
| 46 | TMO | Thermo Fisher Scientific Inc | Stock-Healthcare | 0.64% | -0.06% | -1.65% | |
| 47 | ISRG | Intuitive Surgical Inc | Stock-Healthcare | 0.64% | -0.07% | +15.53% | |
| 48 | NXPI | NXP Semiconductors N.V. | Stock-Tech | 0.63% | +0.13% | -1.66% | |
| 49 | ETR | Entergy CORP | Stock-Utilities | 0.60% | -0.06% | -1.67% | |
| 50 | ETN | Eaton Corporation plc | Stock-Industrials | 0.58% | +0.03% | -1.65% |
1–50 of 200
Portfolio Performance
Performance for Q3 2026
+3.8%
Performance Last 4 Quarters
+18.7%
Based on 83% of reported portfolio value with available pricing
- Stdev
- +12.7%
- Beta
- +0.96
- Alpha
- -0.9%
- Max Drawdown
- -7.3%
- Annualized Perf
- +19.1%
- Batting Avg vs S&P
- +38.9%
- Sortino
- +2.96
- Stutzer
- +0.43
- Treynor
- +0.19
- Sterling
- +1.21
- Calmar
- +2.62
- Information Ratio
- -0.68
- Tracking Error
- +2.4%
- Stdev Down
- +6.2%
- Winning Months %
- +69.4%
- Losing Months %
- +30.6%
- Best 12 Months
- +34.9%
- Worst 12 Months
- +5.9%
- Efficiency Ratio
- +0.6
- Sharpe
- +1.45
- Stdev Sectors
- +9.2%
- Skewness
- +0.07
- Kurtosis
- -0.08
- Upside Potential
- +4.55
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 511 | $12.6B | 31 | ||
| 2026 Q1 | 493 | $11.4B | 34 | ||
| 2025 Q4 | 496 | $12.3B | 26 | ||
| 2025 Q3 | 507 | $12.5B | 46 | ||
| 2025 Q2 | 523 | $12.3B | 0 | ||
| 2025 Q1 | 264 | $11.0B | 100 | ||
| 2024 Q4 | 311 | $11.7B | 0 | ||
| 2024 Q3 | 334 | $11.6B | 0 | ||
| 2024 Q2 | 315 | $10.7B | 0 | ||
| 2024 Q1 | 328 | $9.2B | 0 | ||
| 2023 Q4 | 340 | $8.5B | 0 | ||
| 2023 Q3 | 297 | $6.7B | 0 | ||
| 2023 Q2 | 321 | $7.3B | 0 | ||
| 2023 Q1 | 330 | $6.9B | 0 | ||
| 2022 Q4 | 333 | $6.9B | 0 | ||
| 2022 Q3 | 349 | $6.6B | 0 | ||
| 2022 Q2 | 711 | $7.0B | 0 | ||
| 2022 Q1 | 748 | $8.4B | 0 | ||
| 2021 Q4 | 755 | $8.9B | 0 | ||
| 2021 Q3 | 787 | $8.6B | 0 | ||
| 2021 Q2 | 735 | $8.2B | 100 | ||
| 2021 Q1 | 729 | $7.8B | 36 | ||
| 2020 Q4 | 645 | $6.3B | 45 | ||
| 2020 Q3 | 708 | $6.8B | 31 | ||
| 2020 Q2 | 728 | $6.6B | 35 | ||
| 2020 Q1 | 746 | $5.2B | 37 | ||
| 2019 Q4 | 777 | $6.4B | 23 | ||
| 2019 Q3 | 850 | $6.4B | 43 | ||
| 2019 Q2 | 1086 | $6.6B | 20 | ||
| 2019 Q1 | 1055 | $6.6B | 26 | ||
| 2018 Q4 | 1057 | $6.3B | 32 | ||
| 2018 Q3 | 1057 | $7.5B | 22 | ||
| 2018 Q2 | 1067 | $7.4B | 29 | ||
| 2018 Q1 | 1037 | $7.4B | 31 | ||
| 2017 Q4 | 1034 | $7.9B | 22 | ||
| 2017 Q3 | 1006 | $7.6B | 21 | ||
| 2017 Q2 | 1004 | $7.4B | 22 | ||
| 2017 Q1 | 1020 | $7.3B | 24 | ||
| 2016 Q4 | 1011 | $7.3B | 34 | ||
| 2016 Q3 | 964 | $7.4B | 29 | ||
| 2016 Q2 | 935 | $7.3B | 27 | ||
| 2016 Q1 | 955 | $7.2B | 26 | ||
| 2015 Q4 | 947 | $7.2B | 25 | ||
| 2015 Q3 | 947 | $7.0B | 24 | ||
| 2015 Q2 | 952 | $7.6B | 26 | ||
| 2015 Q1 | 959 | $7.7B | 27 | ||
| 2014 Q4 | 965 | $7.9B | 24 | ||
| 2014 Q3 | 977 | $7.6B | 21 | ||
| 2014 Q2 | 1001 | $7.8B | 25 | ||
| 2014 Q1 | 974 | $7.6B | 23 | ||
| 2013 Q4 | 972 | $7.8B | 38 | ||
| 2013 Q3 | 1028 | $8.1B | 23 | ||
| 2013 Q2 | 1082 | $8.4B | — |
Holding changes this quarter
Employees Retirement System of Texas's most significant position changes for 2026-06-30: New buy: Johnson & Johnson (JNJ); New buy: Applied Materials Inc (AMAT); New buy: Delta Air Lines Inc (DAL); New buy: Carnival CORP LTD F; New buy: Hyatt Hotels CORP - Cl A (H).
Showing top 200 changes by size (of 575 total)
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | AMD | Advanced Micro Devices | +1% | -1.64% | Trim |
| 2 | MU | Micron Technology Inc | +1% | +464.95% | Add |
| 3 | JNJ | Johnson & Johnson | +1% | NEW | New buy |
| 4 | WDC | Western Digital CORP | +1% | +68.24% | Add |
| 5 | AMAT | Applied Materials Inc | +0.9% | NEW | New buy |
| 6 | UNH | Unitedhealth Group Inc | +0.8% | +2448.48% | Add |
| 7 | GOOG | Alphabet Inc-cl C | +0.8% | +22.42% | Add |
| 8 | PANW | Palo Alto Networks Inc | +0.8% | -1.66% | Trim |
| 9 | PM | Philip Morris International | +0.8% | +1169.45% | Add |
| 10 | CAT | Caterpillar Inc | +0.6% | +85.71% | Add |
| 11 | DAL | Delta Air Lines Inc | +0.5% | NEW | New buy |
| 12 | ✓ | Carnival CORP LTD F | +0.5% | NEW | New buy |
| 13 | H | Hyatt Hotels CORP - Cl A | +0.5% | NEW | New buy |
| 14 | INTC | Intel CORP | +0.4% | NEW | New buy |
| 15 | AAPL | Apple Inc | +0.3% | +3.55% | Add |
| 16 | SBUX | Starbucks CORP | +0.2% | NEW | New buy |
| 17 | GOOGL | Alphabet Inc-cl A | +0.2% | +2.44% | Add |
| 18 | MS | Morgan Stanley | +0.2% | +11.01% | Add |
| 19 | ANET | Arista Networks Inc | +0.2% | -1.62% | Trim |
| 20 | CB | Chubb Limited | +0.1% | +1221.58% | Add |
| 21 | AMZN | Amazon.com Inc | +0.1% | -0.27% | Trim |
| 22 | MA | Mastercard Inc - A | +0.1% | +19.23% | Add |
| 23 | BAC | Bank Of America CORP | +0.1% | +6.15% | Add |
| 24 | NXPI | NXP Semiconductors N.V. | +0.1% | -1.66% | Trim |
| 25 | LRCX | Lam Research CORP | +0.1% | — | Unchanged |
| 26 | ✓ | +0.1% | NEW | New buy | |
| 27 | AME | Ametek Inc | +0.1% | +11.43% | Add |
| 28 | BDX | Becton Dickinson And Co | +0.1% | +3437.40% | Add |
| 29 | PGR | Progressive CORP | +0.1% | +296.04% | Add |
| 30 | AVGO | Broadcom Inc | +0.1% | -6.71% | Trim |
| 31 | XBI | Ss Spdr S&p Biotech ETF | +0.1% | -1.66% | Trim |
| 32 | MNST | Monster Beverage CORP | +0.1% | -1.65% | Trim |
| 33 | VRT | Vertiv Holdings Co-a | +0.1% | -3.61% | Trim |
| 34 | SNDK | Sandisk CORP | +0.1% | -48.28% | Trim |
| 35 | CMCSA | Comcast Corp-class A | +0.1% | +1012.42% | Add |
| 36 | EW | Edwards Lifesciences CORP | +0.1% | +87.79% | Add |
| 37 | FAST | Fastenal Co | +0.1% | +16.12% | Add |
| 38 | FITB | Fifth Third Bancorp | +0.1% | -1.67% | Trim |
| 39 | AXP | American Express Co | +0.1% | +12.13% | Add |
| 40 | APH | Amphenol Corp-cl A | +0.1% | — | Unchanged |
| 41 | LIN | Linde plc | +0.1% | +61.89% | Add |
| 42 | HCA | Hca Healthcare Inc | +0.1% | +1124.71% | Add |
| 43 | STX | Seagate Technology Holdings plc | +0.1% | +298.43% | Add |
| 44 | ASML | ASML Holding N.V. | +0.1% | -5.35% | Trim |
| 45 | SHEL | Shell Plc-adr | +0.1% | NEW | New buy |
| 46 | CSCO | Cisco Systems Inc | 0% | +65.90% | Add |
| 47 | XYL | Xylem Inc | 0% | NEW | New buy |
| 48 | V | Visa Inc-class A Shares | 0% | -0.34% | Trim |
| 49 | ABBV | Abbvie Inc | 0% | -1.67% | Trim |
| 50 | ALLY | Ally Financial Inc | 0% | -1.67% | Trim |
1–50 of 200
Filing History
FAQ
What is Employees Retirement System of Texas and what type of investor is it?
Employees Retirement System of Texas is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $12.6B, spread across 511 disclosed positions.
What are Employees Retirement System of Texas's largest equity positions?
Based on the latest 13F filing, Employees Retirement System of Texas's top holdings by market value are:
1. Vanguard Intermediate-term T (VGIT) — $1.4B (11.0%)
2. Nvidia CORP (NVDA) — $654.7M (5.2%)
3. Apple Inc (AAPL) — $612.6M (4.9%)
4. Microsoft CORP (MSFT) — $481.3M (3.8%)
5. Amazon.com Inc (AMZN) — $440.3M (3.5%)
What changes did Employees Retirement System of Texas make in its most recent portfolio filing?
In the latest reported quarter, Employees Retirement System of Texas made 175 notable position adjustments: 27 new positions were initiated, 54 existing holdings were added to, 78 positions were partially reduced, and 16 were completely exited. The largest of these moves: New buy: Johnson & Johnson (JNJ); New buy: Applied Materials Inc (AMAT); New buy: Delta Air Lines Inc (DAL); New buy: Carnival CORP LTD F; New buy: Hyatt Hotels CORP - Cl A (H)
What sectors does Employees Retirement System of Texas focus on?
Employees Retirement System of Texas is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 36.1%
• Financials: 12.7%
• Health Care: 9.5%
• Consumer Discretionary: 9.2%
• Industrials: 9.1%
• Communication Services: 8.4%
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Investment Profile
Employees Retirement System of Texas returned an annualized 19.1% over the trailing 36 months — underperforming the S&P 500 by 0.9 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.96 (roughly in line with the market) and a 39% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 36.1% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 31 over the past 4 quarters — a shift toward more active trading.
It has added to its V position over the past two quarters (+$145.6M, now $151.1M), while trimming MSFT over the same stretch (-$209.1M, still holding $481.3M).
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Developer Access
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