SO
State of New Jersey Common Pension Fund D — 13F Portfolio Changes & Top Buys (Q2 2026)
State of New Jersey Common Pension Fund DCIK: 0001483066
Diversified strategy
Total reported value
$29.3B
Reporting period: 2026-06-30 · Number of holdings: 1718
State of New Jersey Common Pension Fund D disclosed 1718 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $29.3B and a quarterly turnover rate of 21.9%.
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Personality snowflake
- Concentration
- 5.02
- Portfolio Stability
- 21.93
- Momentum
- 55.21
- Sector conviction
- 54.02
- Diversification
- 100
- Sizing Uniformity
- 54.64
State of New Jersey Common Pension Fund D's disclosed holdings carry a Herfindahl concentration index of 0.013 — mathematically equivalent to about 80 equally-sized positions, well below its 1718 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 4.54), 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.govNew buy VTI
Add MU
-5.3% $290.8M
New buy USIG
Add AMD
-5.4% $192.9M
Trim MSFT
-5.4% -$41.9M
Trim NVDA
-10.1% $44.9M
Holdings Map
New buyAddUnchangedTrim
Institutional Game-State Analysis
Core Intent
This quarter's clearest signal is the initiation of two ETF positions—VTI at 2.27% and USIG at 0.67%—pointing to an allocation shift toward broad-market equity and investment-grade credit. Concurrently, trims were executed across MU, AMD, INTC, GOOGL, and AAPL; however, except for AAPL, these trimmed names saw their portfolio weights rise (e.g., MU from 0.5% to 1.44%, AMD from 0.44% to 1.05%), suggesting the share reductions lagged the stocks' price appreciation. LQD was also added, reinforcing a fixed-income tilt. Overall, this reads as a quarter of partial profit-taking in tech offset by fresh index and bond exposure.
Macro & Fundamentals
These flows align with a narrative of 'trimming winners in tech while rotating into broad indices and investment-grade bonds'—but this is an inference from limited data, not a confirmed causal claim. The simultaneous initiation of VTI alongside LQD/USIG may indicate a desire for broader diversification or a defensive posture, though no further macro inputs support a stronger assertion.
Blind Spots / Risks
The most conspicuous data-grounded risk here is that VTI—at just 2.27% of the portfolio—is the largest single change, underscoring how modest the overall repositioning actually is. With a turnover ratio of only 21.9% and 1,718 holdings, the real vulnerability may lie in unobserved mid-sized positions rather than these headline names; if the market reverses, passive weight erosion could be steeper than active trims imply.
Produced with AI assistance from this institution's Form 13F data on SEC EDGAR. Historical only; not a personalized investment recommendation — the original filing is 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 1718 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | Stock-Tech | 5.10% | -0.49% | -10.14% | |
| 2 | AAPL | Apple Inc | Stock-Tech | 4.69% | -0.23% | -5.51% | |
| 3 | IEMG | Ishares Core Msci Emerging | ETF-Emerging Markets | 3.52% | +0.17% | — | |
| 4 | MSFT | Microsoft CORP | Stock-Tech | 2.91% | -0.53% | -5.41% | |
| 5 | VNQ | Vanguard Real Estate ETF | ETF-Other | 2.83% | -0.11% | — | |
| 6 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 2.55% | -0.09% | -4.84% | |
| 7 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 2.30% | +0.10% | -5.23% | |
| 8 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 2.27% | +2.27% | NEW | |
| 9 | AVGO | Broadcom Inc | Stock-Tech | 1.88% | +0.04% | -5.55% | |
| 10 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.80% | -0.05% | -10.39% | |
| 11 | MU | Micron Technology Inc | Stock-Tech | 1.44% | +0.94% | -5.28% | |
| 12 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.37% | -0.27% | -4.60% | |
| 13 | TSLA | Tesla Inc | Stock-Consumer Disc | 1.31% | -0.08% | -5.82% | |
| 14 | REET | Ishares Global Reit ETF | ETF-Other | 1.11% | -0.03% | — | |
| 15 | LLY | Eli Lilly & Co | Stock-Healthcare | 1.06% | +0.09% | -5.45% | |
| 16 | AMD | Advanced Micro Devices | Stock-Tech | 1.05% | +0.61% | -5.36% | |
| 17 | SCZ | Ishares Msci Eafe Small-cap | ETF-Other | 1.04% | -0.08% | — | |
| 18 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.97% | -0.09% | -7.08% | |
| 19 | INDA | Ishares Msci India ETF | ETF-Other | 0.95% | -0.07% | — | |
| 20 | VSS | Vanguard Ftse All Wo X-us Sc | ETF-Other | 0.80% | -0.05% | — | |
| 21 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.77% | -0.10% | -4.60% | |
| 22 | INTC | Intel CORP | Stock-Tech | 0.68% | +0.42% | -8.15% | |
| 23 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.68% | -0.10% | -5.42% | |
| 24 | USIG | Ishares Broad Usd Investment | ETF-Other | 0.67% | +0.67% | NEW | |
| 25 | V | Visa Inc-class A Shares | Stock-Financials | 0.64% | -0.03% | -5.87% | |
| 26 | AMAT | Applied Materials Inc | Stock-Tech | 0.63% | +0.27% | -5.91% | |
| 27 | XOM | Exxon Mobil CORP | Stock-Energy | 0.63% | -0.32% | -6.95% | |
| 28 | LRCX | Lam Research CORP | Stock-Tech | 0.60% | +0.24% | -6.77% | |
| 29 | WMT | Walmart Inc | Stock-Consumer Staples | 0.55% | -0.18% | -5.92% | |
| 30 | CAT | Caterpillar Inc | Stock-Industrials | 0.55% | +0.11% | -6.56% | |
| 31 | LQD | Ishr Ibx Usd Invgd Cb Etf-ui | ETF-Corp Bonds | 0.54% | +0.37% | +255.48% | |
| 32 | CSCO | Cisco Systems Inc | Stock-Tech | 0.51% | +0.11% | -5.60% | |
| 33 | ABBV | Abbvie Inc | Stock-Healthcare | 0.49% | -0.02% | -5.31% | |
| 34 | MA | Mastercard Inc - A | Stock-Financials | 0.46% | -0.10% | -8.95% | |
| 35 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.46% | -0.13% | -5.76% | |
| 36 | KLAC | Kla CORP | Stock-Tech | 0.44% | +0.18% | +836.91% | |
| 37 | GE | General Electric | Stock-Industrials | 0.43% | +0.03% | -6.77% | |
| 38 | BAC | Bank Of America CORP | Stock-Financials | 0.43% | -0.01% | -6.79% | |
| 39 | UNH | Unitedhealth Group Inc | Stock-Healthcare | 0.42% | +0.10% | -4.92% | |
| 40 | IWM | Ishares Russell 2000 ETF | ETF-Small Cap | 0.41% | +0.03% | — | |
| 41 | PYLD | Pimco Multisector Bond Actv | ETF-Other | 0.41% | +0.18% | +100.00% | |
| 42 | WELL | Welltower Inc | Stock-Real Estate | 0.40% | — | -1.16% | |
| 43 | HD | Home Depot Inc | Stock-Consumer Disc | 0.39% | -0.04% | -5.66% | |
| 44 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 0.38% | -0.07% | -5.85% | |
| 45 | SNDK | Sandisk CORP | Stock-Tech | 0.36% | +0.24% | -2.36% | |
| 46 | MRK | Merck & Co. Inc. | Stock-Healthcare | 0.35% | -0.04% | -5.76% | |
| 47 | GEV | GE Vernova Inc | Stock-Industrials | 0.35% | +0.04% | -6.43% | |
| 48 | KO | Coca-cola Co/the | Stock-Consumer Staples | 0.35% | -0.06% | -10.72% | |
| 49 | PLD | Prologis Inc | Stock-Real Estate | 0.34% | -0.04% | -1.55% | |
| 50 | CVX | Chevron CORP | Stock-Energy | 0.34% | -0.18% | -8.68% |
1–50 of 200
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Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Portfolio Performance
Performance for Q3 2026
+2.2%
Performance Last 4 Quarters
+20.2%
- Stdev
- +12.7%
- Beta
- +0.97
- Alpha
- -1.4%
- Max Drawdown
- -7.9%
- Annualized Perf
- +18.6%
- Batting Avg vs S&P
- +33.3%
- Sortino
- +2.86
- Stutzer
- +0.42
- Treynor
- +0.19
- Sterling
- +1.18
- Calmar
- +2.37
- Information Ratio
- -0.98
- Tracking Error
- +2.1%
- Stdev Down
- +6.3%
- Winning Months %
- +66.7%
- Losing Months %
- +33.3%
- Best 12 Months
- +32.1%
- Worst 12 Months
- +5.8%
- Efficiency Ratio
- +0.59
- Sharpe
- +1.42
- Stdev Sectors
- +9%
- Skewness
- +0.03
- Kurtosis
- -0.11
- Upside Potential
- +4.42
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 1718 | $29.3B | 22 | ||
| 2026 Q1 | 1549 | $25.9B | 17 | ||
| 2025 Q4 | 1472 | $27.7B | 13 | ||
| 2025 Q3 | 1460 | $27.2B | 34 | ||
| 2025 Q2 | 1473 | $25.8B | 0 | ||
| 2025 Q1 | 1499 | $22.2B | 100 | ||
| 2024 Q4 | 1540 | $24.8B | 0 | ||
| 2024 Q3 | 1529 | $24.3B | 0 | ||
| 2024 Q2 | 1515 | $22.9B | 0 | ||
| 2024 Q1 | 1548 | $33.1B | 0 | ||
| 2023 Q4 | 1549 | $29.8B | 0 | ||
| 2023 Q3 | 1617 | $27.8B | 0 | ||
| 2023 Q2 | 1638 | $29.6B | 0 | ||
| 2023 Q1 | 1709 | $28.0B | 0 | ||
| 2022 Q4 | 1679 | $26.5B | 0 | ||
| 2022 Q3 | 1678 | $24.7B | 0 | ||
| 2022 Q2 | 1689 | $26.3B | 0 | ||
| 2022 Q1 | 1700 | $31.4B | 0 | ||
| 2021 Q4 | 1749 | $34.6B | 0 | ||
| 2021 Q3 | 1728 | $32.3B | 0 | ||
| 2021 Q2 | 1773 | $30.5B | 100 | ||
| 2021 Q1 | 1691 | $28.5B | 11 | ||
| 2020 Q4 | 1590 | $28.3B | 17 | ||
| 2020 Q3 | 1597 | $25.2B | 14 | ||
| 2020 Q2 | 1604 | $24.0B | 21 | ||
| 2020 Q1 | 1588 | $20.6B | 27 | ||
| 2019 Q4 | 1599 | $26.5B | 13 | ||
| 2019 Q3 | 1592 | $25.9B | 60 | ||
| 2019 Q2 | 920 | $26.9B | 16 | ||
| 2019 Q1 | 906 | $26.7B | 20 | ||
| 2018 Q4 | 914 | $23.4B | 27 | ||
| 2018 Q3 | 924 | $27.1B | 18 | ||
| 2018 Q2 | 958 | $26.5B | 19 | ||
| 2018 Q1 | 948 | $26.0B | 18 | ||
| 2017 Q4 | 935 | $26.4B | 19 | ||
| 2017 Q3 | 945 | $25.0B | 19 | ||
| 2017 Q2 | 938 | $24.3B | 18 | ||
| 2017 Q1 | 937 | $24.0B | 19 | ||
| 2016 Q4 | 935 | $23.3B | 22 | ||
| 2016 Q3 | 929 | $23.2B | 22 | ||
| 2016 Q2 | 944 | $22.0B | 22 | ||
| 2016 Q1 | 951 | $22.2B | 28 | ||
| 2015 Q4 | 981 | $23.7B | 28 | ||
| 2015 Q3 | 952 | $23.5B | 27 | ||
| 2015 Q2 | 931 | $26.0B | 29 | ||
| 2015 Q1 | 932 | $25.6B | 22 | ||
| 2014 Q4 | 949 | $25.9B | 23 | ||
| 2014 Q3 | 921 | $25.3B | 18 | ||
| 2014 Q2 | 911 | $25.1B | 100 | ||
| 2014 Q1 | 58 | $3.2B | 100 | ||
| 2013 Q4 | 46 | $3.6B | 53 | ||
| 2013 Q3 | 47 | $3.3B | 20 | ||
| 2013 Q2 | 47 | $3.1B | — |
Holding changes this quarter
State of New Jersey Common Pension Fund D's most significant position changes for 2026-06-30: New buy: Vanguard Total Stock Mkt ETF (VTI); New buy: Ishares Broad Usd Investment (USIG); Sold out: Honeywell International Inc (HON); New buy: ; New buy: Jpmorgan Active H Yield ETF (JPHY).
Showing top 200 changes by size (of 1747 total)
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | VTI | Vanguard Total Stock Mkt ETF | +2.3% | NEW | New buy |
| 2 | MU | Micron Technology Inc | +0.9% | -5.28% | Trim |
| 3 | USIG | Ishares Broad Usd Investment | +0.7% | NEW | New buy |
| 4 | AMD | Advanced Micro Devices | +0.6% | -5.36% | Trim |
| 5 | INTC | Intel CORP | +0.4% | -8.15% | Trim |
| 6 | LQD | Ishr Ibx Usd Invgd Cb Etf-ui | +0.4% | +255.48% | Add |
| 7 | AMAT | Applied Materials Inc | +0.3% | -5.91% | Trim |
| 8 | LRCX | Lam Research CORP | +0.2% | -6.77% | Trim |
| 9 | SNDK | Sandisk CORP | +0.2% | -2.36% | Trim |
| 10 | QLTA | Ishares Aaa - A Rated Corpor | +0.2% | +400.00% | Add |
| 11 | KLAC | Kla CORP | +0.2% | +836.91% | Add |
| 12 | PYLD | Pimco Multisector Bond Actv | +0.2% | +100.00% | Add |
| 13 | IEMG | Ishares Core Msci Emerging | +0.2% | — | Unchanged |
| 14 | MRVL | Marvell Technology Inc | +0.2% | -5.45% | Trim |
| 15 | PANW | Palo Alto Networks Inc | +0.1% | -5.10% | Trim |
| 16 | WDC | Western Digital CORP | +0.1% | -4.47% | Trim |
| 17 | STX | Seagate Technology Holdings plc | +0.1% | -5.16% | Trim |
| 18 | CAT | Caterpillar Inc | +0.1% | -6.56% | Trim |
| 19 | CSCO | Cisco Systems Inc | +0.1% | -5.60% | Trim |
| 20 | GOOGL | Alphabet Inc-cl A | +0.1% | -5.23% | Trim |
| 21 | UNH | Unitedhealth Group Inc | +0.1% | -4.92% | Trim |
| 22 | ✓ | +0.1% | NEW | New buy | |
| 23 | LLY | Eli Lilly & Co | +0.1% | -5.45% | Trim |
| 24 | JPHY | Jpmorgan Active H Yield ETF | +0.1% | NEW | New buy |
| 25 | SPIB | Ss Spdr P Int C CORP ETF | +0.1% | +66.38% | Add |
| 26 | CRWD | Crowdstrike Holdings Inc - A | +0.1% | -6.70% | Trim |
| 27 | ✓ | +0.1% | NEW | New buy | |
| 28 | ✓ | +0.1% | NEW | New buy | |
| 29 | GLW | Corning Inc | +0.1% | -8.18% | Trim |
| 30 | TXN | Texas Instruments Inc | +0.1% | -5.21% | Trim |
| 31 | DELL | Dell Technologies -c | +0.1% | -10.67% | Trim |
| 32 | MBB | Ishares Mbs ETF | +0.1% | +55.56% | Add |
| 33 | VALE | Vale Sa-sp Adr | +0.1% | +287.19% | Add |
| 34 | ALAB | Astera Labs Inc | +0.1% | -4.24% | Trim |
| 35 | BE | Bloom Energy Corp- A | +0.1% | +12.26% | Add |
| 36 | AVGO | Broadcom Inc | 0% | -5.55% | Trim |
| 37 | GEV | GE Vernova Inc | 0% | -6.43% | Trim |
| 38 | APH | Amphenol Corp-cl A | 0% | -5.31% | Trim |
| 39 | QCOM | Qualcomm Inc | 0% | -5.34% | Trim |
| 40 | NBIS | Nebius Group N.V. | 0% | -9.01% | Trim |
| 41 | DDOG | Datadog Inc - Class A | 0% | -3.80% | Trim |
| 42 | FTNT | Fortinet Inc | 0% | -5.87% | Trim |
| 43 | ✓ | Carnival CORP LTD F | 0% | NEW | New buy |
| 44 | FLEX | Flex Ltd. | 0% | -4.00% | Trim |
| 45 | GE | General Electric | 0% | -6.77% | Trim |
| 46 | IWM | Ishares Russell 2000 ETF | 0% | — | Unchanged |
| 47 | ANET | Arista Networks Inc | 0% | -6.09% | Trim |
| 48 | CVS | Cvs Health CORP | 0% | -5.16% | Trim |
| 49 | COHR | Coherent CORP | 0% | +10.71% | Add |
| 50 | SNOW | Snowflake Inc | 0% | -4.01% | Trim |
1–50 of 200
Filing History
FAQ
What is State of New Jersey Common Pension Fund D and what type of investor is it?
State of New Jersey Common Pension Fund D 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 $29.3B, spread across 1718 disclosed positions.
What are State of New Jersey Common Pension Fund D's largest equity positions?
Based on the latest 13F filing, State of New Jersey Common Pension Fund D's top holdings by market value are:
1. Nvidia CORP (NVDA) — $1.5B (5.1%)
2. Apple Inc (AAPL) — $1.4B (4.7%)
3. Ishares Core Msci Emerging (IEMG) — $1.0B (3.5%)
4. Microsoft CORP (MSFT) — $851.2M (2.9%)
5. Vanguard Real Estate ETF (VNQ) — $829.2M (2.8%)
What changes did State of New Jersey Common Pension Fund D make in its most recent portfolio filing?
In the latest reported quarter, State of New Jersey Common Pension Fund D made 191 notable position adjustments: 16 new positions were initiated, 16 existing holdings were added to, 154 positions were partially reduced, and 5 were completely exited. The largest of these moves: New buy: Vanguard Total Stock Mkt ETF (VTI); New buy: Ishares Broad Usd Investment (USIG); Sold out: Honeywell International Inc (HON); New buy: ; New buy: Jpmorgan Active H Yield ETF (JPHY)
What sectors does State of New Jersey Common Pension Fund D focus on?
State of New Jersey Common Pension Fund D is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 35.7%
• Financials: 11.2%
• Consumer Discretionary: 9.7%
• Industrials: 9.2%
• Health Care: 9.1%
• Communication Services: 9.1%
Investment Profile
State of New Jersey Common Pension Fund D returned an annualized 18.6% over the trailing 36 months — underperforming the S&P 500 by 1.4 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.97 (roughly in line with the market) and a 33% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 35.7% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 22 over the past 4 quarters — a shift toward more active trading.
It has added to its MU position over the past two quarters (+$311.3M, now $420.9M), while trimming MSFT over the same stretch (-$314.4M, still holding $851.2M).
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Developer Access
Access State of New Jersey Common Pension Fund D's institutional profile programmatically:
REST API
curl https://alphasmo.com/api/v1/institutions/state-of-new-jersey-common-pension-fund-dCLI
npx alphasmo institutions get state-of-new-jersey-common-pension-fund-d