SB
State Board Of Administration Of Florida Retirement System SEC 13F Filing (Q2 2026) — Holdings & Portfolio
State Board Of Administration Of Florida Retirement SystemCIK: 0000938076
Diversified strategy
Total reported value
$60.3B
Reporting period: 2026-06-30 · Number of holdings: 2136
STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM disclosed 2136 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $60.3B and a quarterly turnover rate of 20.3%.
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Personality snowflake
- Concentration
- 6.3
- Portfolio Stability
- 20.31
- Momentum
- 62.75
- Sector conviction
- 57.16
- Diversification
- 100
- Sizing Uniformity
- 42.87
State Board Of Administration Of Florida Retirement System's disclosed holdings carry a Herfindahl concentration index of 0.016 — mathematically equivalent to about 64 equally-sized positions, well below its 2136 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 5.71), 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.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd MU
-0.6% $794.2M
Add AMD
-0.5% $529.9M
Trim MSFT
-2.6% -$43.5M
Add INTC
-1.5% $360.7M
Add AMAT
-2.0% $255.5M
Trim XOM
-4.6% -$146.5M
Holdings Map
New buyAddUnchangedTrim
Institutional Game-State Analysis
Core Intent
The Florida SBA actively reduced share counts across all eight of its largest technology positions this quarter — MU, AMD, INTC, AMAT, NVDA, AAPL, GOOGL and AVGO were all trimmed. Yet the selling barely dented exposure: MU's weight jumped from 0.62% to 1.87% and AMD's from 0.54% to 1.36%, with INTC and AMAT also rising sharply, indicating price appreciation outran the reductions — a textbook trim-into-strength pattern. NVDA and AAPL weights slipped only marginally. With 2,136 holdings and an HHI of roughly 0.0157, this remains an extremely diversified, index-style institutional book.
Macro & Fundamentals
These flows line up with the market's AI-compute and memory-led capital rotation into semiconductors — Information Technology now sits at 37.1% of the portfolio, well above conventional benchmark weights. That said, 13F filings capture only quarter-end snapshots, so whether this reflects systematic rebalancing or opportunistic gain-harvesting cannot be confirmed from the data alone; treat it as an inference drawn from limited evidence.
Blind Spots / Risks
The sharpest data-grounded risk: even after active selling, the semiconductor positions' weights expanded passively, meaning the fund's effective exposure to chip pricing grew rather than shrank — a crowded-trade dynamic in which any sector reversal would hit the ~37% IT sleeve disproportionately. Compounding this, the payload omits percentage share-count changes, so the true scale of each "trim" cannot be quantified; some may be de minimis adjustments rather than meaningful de-risking.
The summary above is AI-generated directly from this institution's Form 13F filings on the SEC's EDGAR system and reflects historical holdings only. It is not investment advice — verify the details against the original filing linked below. View the original 2026-06-30 Form 13F filing on SEC.gov
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 2136 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | Stock-Tech | 6.60% | -0.13% | -3.37% | |
| 2 | AAPL | Apple Inc | Stock-Tech | 5.93% | -0.11% | -2.73% | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 3.91% | -0.59% | -2.56% | |
| 4 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 3.26% | -0.02% | -1.90% | |
| 5 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 2.95% | +0.20% | -2.38% | |
| 6 | AVGO | Broadcom Inc | Stock-Tech | 2.48% | +0.13% | -2.13% | |
| 7 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 2.37% | +0.14% | -2.80% | |
| 8 | MU | Micron Technology Inc | Stock-Tech | 1.87% | +1.25% | -0.58% | |
| 9 | TSLA | Tesla Inc | Stock-Consumer Disc | 1.76% | +0.03% | +1.67% | |
| 10 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.75% | -0.30% | -2.06% | |
| 11 | LLY | Eli Lilly & Co | Stock-Healthcare | 1.36% | +0.15% | -2.90% | |
| 12 | AMD | Advanced Micro Devices | Stock-Tech | 1.36% | +0.82% | -0.47% | |
| 13 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 1.29% | -0.13% | -1.95% | |
| 14 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.24% | -0.07% | -4.53% | |
| 15 | INTC | Intel CORP | Stock-Tech | 0.88% | +0.56% | -1.47% | |
| 16 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.86% | -0.10% | -2.73% | |
| 17 | AMAT | Applied Materials Inc | Stock-Tech | 0.82% | +0.37% | -2.01% | |
| 18 | XOM | Exxon Mobil CORP | Stock-Energy | 0.81% | -0.37% | -4.64% | |
| 19 | V | Visa Inc-class A Shares | Stock-Financials | 0.80% | -0.04% | -4.70% | |
| 20 | LRCX | Lam Research CORP | Stock-Tech | 0.77% | +0.33% | -2.99% | |
| 21 | WMT | Walmart Inc | Stock-Consumer Staples | 0.70% | -0.19% | -2.18% | |
| 22 | CAT | Caterpillar Inc | Stock-Industrials | 0.69% | +0.15% | -4.27% | |
| 23 | CSCO | Cisco Systems Inc | Stock-Tech | 0.66% | +0.15% | -2.63% | |
| 24 | ABBV | Abbvie Inc | Stock-Healthcare | 0.63% | — | -2.63% | |
| 25 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.59% | -0.14% | -2.91% | |
| 26 | MA | Mastercard Inc - A | Stock-Financials | 0.59% | -0.07% | -3.05% | |
| 27 | KLAC | Kla CORP | Stock-Tech | 0.56% | +0.24% | +874.97% | |
| 28 | GE | General Electric | Stock-Industrials | 0.55% | +0.06% | -3.23% | |
| 29 | BAC | Bank Of America CORP | Stock-Financials | 0.54% | +0.01% | -2.49% | |
| 30 | UNH | Unitedhealth Group Inc | Stock-Healthcare | 0.53% | +0.13% | -3.31% | |
| 31 | HD | Home Depot Inc | Stock-Consumer Disc | 0.50% | -0.04% | -2.43% | |
| 32 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 0.48% | -0.07% | -3.25% | |
| 33 | GEV | GE Vernova Inc | Stock-Industrials | 0.46% | +0.07% | -2.19% | |
| 34 | MRK | Merck & Co. Inc. | Stock-Healthcare | 0.46% | -0.04% | -2.87% | |
| 35 | KO | Coca-cola Co/the | Stock-Consumer Staples | 0.45% | -0.03% | -2.58% | |
| 36 | SNDK | Sandisk CORP | Stock-Tech | 0.44% | +0.31% | +3.07% | |
| 37 | CVX | Chevron CORP | Stock-Energy | 0.44% | -0.20% | -4.29% | |
| 38 | NFLX | Netflix Inc | Stock-Comm Services | 0.43% | -0.24% | -1.50% | |
| 39 | GS | Goldman Sachs Group Inc | Stock-Financials | 0.41% | — | -4.61% | |
| 40 | PM | Philip Morris International | Stock-Consumer Staples | 0.40% | -0.02% | -2.61% | |
| 41 | PANW | Palo Alto Networks Inc | Stock-Tech | 0.39% | +0.19% | +2.68% | |
| 42 | TXN | Texas Instruments Inc | Stock-Tech | 0.38% | +0.09% | -2.40% | |
| 43 | IBM | Intl Business Machines CORP | Stock-Tech | 0.37% | — | -1.80% | |
| 44 | MRVL | Marvell Technology Inc | Stock-Tech | 0.37% | +0.23% | +0.09% | |
| 45 | PLTR | Palantir Technologies Inc-a | Stock-Tech | 0.37% | -0.16% | -0.90% | |
| 46 | WFC | Wells Fargo & Co | Stock-Financials | 0.36% | -0.05% | -3.77% | |
| 47 | RTX | Rtx CORP | Stock-Industrials | 0.36% | -0.07% | -2.21% | |
| 48 | ORCL | Oracle CORP | Stock-Tech | 0.36% | -0.05% | -0.19% | |
| 49 | LIN | Linde plc | Stock-Materials | 0.34% | -0.04% | -2.59% | |
| 50 | C | Citigroup Inc | Stock-Financials | 0.34% | +0.01% | -5.25% |
1–50 of 200
* 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.
Portfolio Performance
Performance for Q3 2026
+2.5%
Performance Last 4 Quarters
+21.1%
- Stdev
- +13%
- Beta
- +1
- Alpha
- -1.1%
- Max Drawdown
- -8.6%
- Annualized Perf
- +19.7%
- Batting Avg vs S&P
- +50%
- Sortino
- +2.99
- Stutzer
- +0.43
- Treynor
- +0.19
- Sterling
- +1.22
- Calmar
- +2.28
- Information Ratio
- -0.68
- Tracking Error
- +1.6%
- Stdev Down
- +6.3%
- Winning Months %
- +69.4%
- Losing Months %
- +30.6%
- Best 12 Months
- +32.9%
- Worst 12 Months
- +5.8%
- Efficiency Ratio
- +0.61
- Sharpe
- +1.45
- Stdev Sectors
- +9.5%
- Skewness
- +0.06
- Kurtosis
- -0.15
- Upside Potential
- +4.58
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 2136 | $60.3B | 20 | ||
| 2026 Q1 | 2063 | $53.4B | 15 | ||
| 2025 Q4 | 2073 | $56.5B | 10 | ||
| 2025 Q3 | 2084 | $57.2B | 22 | ||
| 2025 Q2 | 2147 | $56.4B | 0 | ||
| 2025 Q1 | 2169 | $50.4B | 100 | ||
| 2024 Q4 | 2198 | $52.6B | 0 | ||
| 2024 Q3 | 2223 | $52.4B | 0 | ||
| 2024 Q2 | 2188 | $50.8B | 0 | ||
| 2024 Q1 | 2136 | $42.7B | 0 | ||
| 2023 Q4 | 2431 | $48.0B | 0 | ||
| 2023 Q3 | 2351 | $42.5B | 0 | ||
| 2023 Q2 | 2408 | $45.1B | 0 | ||
| 2023 Q1 | 2241 | $43.1B | 0 | ||
| 2022 Q4 | 2311 | $40.8B | 0 | ||
| 2022 Q3 | 2267 | $39.0B | 0 | ||
| 2022 Q2 | 2309 | $41.3B | 0 | ||
| 2022 Q1 | 2385 | $51.6B | 0 | ||
| 2021 Q4 | 2403 | $55.7B | 0 | ||
| 2021 Q3 | 2398 | $51.4B | 0 | ||
| 2021 Q2 | 2380 | $52.9B | 100 | ||
| 2021 Q1 | 2369 | $50.2B | 10 | ||
| 2020 Q4 | 2356 | $49.3B | 15 | ||
| 2020 Q3 | 2321 | $44.0B | 13 | ||
| 2020 Q2 | 2317 | $40.5B | 23 | ||
| 2020 Q1 | 2236 | $32.9B | 25 | ||
| 2019 Q4 | 2273 | $41.0B | 11 | ||
| 2019 Q3 | 2270 | $38.2B | 9 | ||
| 2019 Q2 | 2303 | $38.4B | 10 | ||
| 2019 Q1 | 2329 | $37.6B | 14 | ||
| 2018 Q4 | 2346 | $33.5B | 19 | ||
| 2018 Q3 | 2393 | $39.4B | 10 | ||
| 2018 Q2 | 2399 | $37.4B | 11 | ||
| 2018 Q1 | 2409 | $36.5B | 10 | ||
| 2017 Q4 | 2416 | $37.7B | 9 | ||
| 2017 Q3 | 2431 | $36.7B | 10 | ||
| 2017 Q2 | 2423 | $35.5B | 9 | ||
| 2017 Q1 | 2340 | $34.6B | 10 | ||
| 2016 Q4 | 2372 | $33.1B | 10 | ||
| 2016 Q3 | 2372 | $32.1B | 13 | ||
| 2016 Q2 | 2352 | $31.5B | 24 | ||
| 2016 Q1 | 2416 | $26.3B | 11 | ||
| 2015 Q4 | 2449 | $26.8B | 14 | ||
| 2015 Q3 | 2436 | $25.8B | 14 | ||
| 2015 Q2 | 2432 | $28.2B | 12 | ||
| 2015 Q1 | 2472 | $29.3B | 14 | ||
| 2014 Q4 | 2501 | $31.9B | 11 | ||
| 2014 Q3 | 2500 | $30.7B | 9 | ||
| 2014 Q2 | 2518 | $31.5B | 10 | ||
| 2014 Q1 | 2484 | $30.8B | 11 | ||
| 2013 Q4 | 2504 | $33.3B | 11 | ||
| 2013 Q3 | 2526 | $31.0B | 9 | ||
| 2013 Q2 | 2573 | $30.1B | — |
Holding changes this quarter
State Board Of Administration Of Florida Retirement System's most significant position changes for 2026-06-30: Sold out: Honeywell International Inc (HON); New buy: ; New buy: ; New buy: ; New buy: Carnival CORP LTD F.
Showing top 200 changes by size (of 2188 total)
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | MU | Micron Technology Inc | +1.3% | -0.58% | Trim |
| 2 | AMD | Advanced Micro Devices | +0.8% | -0.47% | Trim |
| 3 | INTC | Intel CORP | +0.6% | -1.47% | Trim |
| 4 | AMAT | Applied Materials Inc | +0.4% | -2.01% | Trim |
| 5 | LRCX | Lam Research CORP | +0.3% | -2.99% | Trim |
| 6 | SNDK | Sandisk CORP | +0.3% | +3.07% | Add |
| 7 | KLAC | Kla CORP | +0.2% | +874.97% | Add |
| 8 | MRVL | Marvell Technology Inc | +0.2% | +0.09% | Add |
| 9 | GOOGL | Alphabet Inc-cl A | +0.2% | -2.38% | Trim |
| 10 | PANW | Palo Alto Networks Inc | +0.2% | +2.68% | Add |
| 11 | WDC | Western Digital CORP | +0.2% | -1.77% | Trim |
| 12 | LLY | Eli Lilly & Co | +0.2% | -2.90% | Trim |
| 13 | CSCO | Cisco Systems Inc | +0.2% | -2.63% | Trim |
| 14 | CAT | Caterpillar Inc | +0.2% | -4.27% | Trim |
| 15 | GOOG | Alphabet Inc-cl C | +0.1% | -2.80% | Trim |
| 16 | AVGO | Broadcom Inc | +0.1% | -2.13% | Trim |
| 17 | UNH | Unitedhealth Group Inc | +0.1% | -3.31% | Trim |
| 18 | GLW | Corning Inc | +0.1% | -0.25% | Trim |
| 19 | CRWD | Crowdstrike Holdings Inc - A | +0.1% | -2.09% | Trim |
| 20 | DELL | Dell Technologies -c | +0.1% | -3.64% | Trim |
| 21 | ✓ | +0.1% | NEW | New buy | |
| 22 | BE | Bloom Energy Corp- A | +0.1% | +269.45% | Add |
| 23 | ✓ | +0.1% | NEW | New buy | |
| 24 | ✓ | +0.1% | NEW | New buy | |
| 25 | TXN | Texas Instruments Inc | +0.1% | -2.40% | Trim |
| 26 | ALAB | Astera Labs Inc | +0.1% | +15.27% | Add |
| 27 | GEV | GE Vernova Inc | +0.1% | -2.19% | Trim |
| 28 | GE | General Electric | +0.1% | -3.23% | Trim |
| 29 | APH | Amphenol Corp-cl A | +0.1% | +0.61% | Add |
| 30 | DDOG | Datadog Inc - Class A | +0.1% | +1.93% | Add |
| 31 | FTNT | Fortinet Inc | +0.1% | -3.05% | Trim |
| 32 | CRDO | Credo Technology Group Holding Ltd | +0.1% | +221.45% | Add |
| 33 | QCOM | Qualcomm Inc | +0.1% | -2.35% | Trim |
| 34 | FLEX | Flex Ltd. | +0.1% | +11.45% | Add |
| 35 | CRWV | Coreweave Inc-cl A | +0.1% | +2089.62% | Add |
| 36 | ANET | Arista Networks Inc | 0% | -2.16% | Trim |
| 37 | CVS | Cvs Health CORP | 0% | -2.05% | Trim |
| 38 | SNOW | Snowflake Inc | 0% | -0.16% | Trim |
| 39 | COHR | Coherent CORP | 0% | +12.15% | Add |
| 40 | ✓ | Carnival CORP LTD F | 0% | NEW | New buy |
| 41 | HUM | Humana Inc | 0% | -1.09% | Trim |
| 42 | TSLA | Tesla Inc | 0% | +1.67% | Add |
| 43 | MS | Morgan Stanley | 0% | -4.21% | Trim |
| 44 | TER | Teradyne Inc | 0% | -0.47% | Trim |
| 45 | HPE | Hewlett Packard Enterprise | 0% | -1.36% | Trim |
| 46 | RKLB | Rocket Lab CORP | 0% | +14.56% | Add |
| 47 | FIX | Comfort Systems USA Inc | 0% | +1.99% | Add |
| 48 | SUNB | Sunbelt Rentals Holdings Inc | 0% | NEW | New buy |
| 49 | STRL | Sterling Infrastructure Inc | 0% | +261.28% | Add |
| 50 | ✓ | 0% | NEW | New buy |
1–50 of 200
Filing History
FAQ
What is State Board Of Administration Of Florida Retirement System and what type of investor is it?
State Board Of Administration Of Florida Retirement System 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 $60.3B, spread across 2136 disclosed positions.
What are State Board Of Administration Of Florida Retirement System's largest equity positions?
Based on the latest 13F filing, State Board Of Administration Of Florida Retirement System's top holdings by market value are:
1. Nvidia CORP (NVDA) — $4.0B (6.6%)
2. Apple Inc (AAPL) — $3.6B (5.9%)
3. Microsoft CORP (MSFT) — $2.4B (3.9%)
4. Amazon.com Inc (AMZN) — $2.0B (3.3%)
5. Alphabet Inc-cl A (GOOGL) — $1.8B (3.0%)
What changes did State Board Of Administration Of Florida Retirement System make in its most recent portfolio filing?
In the latest reported quarter, State Board Of Administration Of Florida Retirement System made 200 notable position adjustments: 9 new positions were initiated, 43 existing holdings were added to, 143 positions were partially reduced, and 5 were completely exited. The largest of these moves: Sold out: Honeywell International Inc (HON); New buy: ; New buy: ; New buy: ; New buy: Carnival CORP LTD F
What sectors does State Board Of Administration Of Florida Retirement System focus on?
State Board Of Administration Of Florida Retirement System is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 37.1%
• Financials: 10.7%
• Consumer Discretionary: 9.9%
• Industrials: 9.7%
• Communication Services: 9.5%
• Health Care: 9.4%
Investment Profile
State Board Of Administration Of Florida Retirement System returned an annualized 19.7% over the trailing 36 months — underperforming the S&P 500 by 1.1 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.00 (roughly in line with the market) and a 50% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 37.1% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 20 over the past 4 quarters — a shift toward more active trading.
It has added to its MU position over the past two quarters (+$843.6M, now $1.1B), while trimming MSFT over the same stretch (-$815.1M, still holding $2.4B).
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Developer Access
Access State Board Of Administration Of Florida Retirement System's institutional profile programmatically:
REST API
curl https://alphasmo.com/api/v1/institutions/state-board-of-administration-of-florida-retirement-systemCLI
npx alphasmo institutions get state-board-of-administration-of-florida-retirement-system