VIRGINIA RETIREMENT SYSTEMS ET Al 13F Filings Tracker & Analysis

Diversified strategyMomentum followerSector-focused

Total reported value

$16.8B

Reporting period: 2025-12-31 · Number of holdings: 949

VIRGINIA RETIREMENT SYSTEMS ET Al disclosed 949 holdings in its latest 13F filing for the period ending 2025-12-31, with total reported value of $16.8B and a quarterly turnover rate of 27.1%.

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Personality snowflake

Concentration: 6.57
Portfolio Stability: 27.05
Momentum/Contrarian: 100
Sector conviction: 74.15
Diversification: 100
Sizing Uniformity: 61.79

Recent moves

Add AMZN
+52.6%　$241.9M
Add GOOGL
+35.4%　$224.4M
Trim NVDA
-5.3%　-$53.0M
Trim MSFT
+2.2%　-$40.8M
Add WMT
+246.3%　$106.7M
Add AAPL
+12.9%　$179.4M

Holdings Map

New buyAddUnchangedTrim

Institutional Game-State Analysis

Core Intent

VIRGINIA RETIREMENT SYSTEMS is systematically scaling into momentum and beta — adding to mega-cap tech entries (AMZN, GOOGL, AAPL, AVGO, MU) and seeding a new S&P 500 core (IVV) — all signals of a conviction-driven alpha hunt with zero hedging. This is not capital rotation or portfolio insurance; it is a deliberate bet that the prevailing trend extends into Q1 2026.

Macro & Fundamentals

Every share added here bets on a Goldilocks macro: low rates, resilient margins, and AI-led productivity gains keeping the tech rally alive. The opposing thesis is a stagflationary shock that punctures earnings expectations in high-multiple names, triggering a momentum collapse that reverses the same signals this strategy depends on.

Blind Spots / Risks

The 949 holdings give an illusion of safety but the portfolio is a single factor trade: momentum score 100 and tech weighting 42.6% create a reflexivity trap where every position shares the same return driver. When that driver fails — and it will, because momentum is mean-reverting at extremes — the cross-sectional correlation inside the portfolio approaches 1.0, making the diversification a cosmetic shell.

This overview is machine-generated from public regulatory data and describes past filings only — it does not constitute financial advice.

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	AAPL	Apple INC	Stock-Tech	6.28%	+0.60%	+12.86%
2	NVDA	Nvidia CORP	Stock-Tech	5.58%	-0.85%	-5.31%
3	MSFT	Microsoft CORP	Stock-Tech	5.03%	-0.72%	+2.16%
4	AMZN	Amazon.com INC	Stock-Consumer Disc	3.82%	+1.22%	+52.60%
5	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	3.13%	+1.17%	+35.43%
6	META	Meta Platforms Inc-class A	Stock-Comm Services	2.59%	—	+16.47%
7	AVGO	Broadcom INC	Stock-Tech	1.99%	+0.43%	+32.42%
8	GOOG	Alphabet Inc-cl C	Stock-Comm Services	1.95%	+0.38%	+5.61%
9	IVV	Ishares Core S&p 500 ETF	ETF-Large Cap & Growth	1.90%	+1.90%	NEW
10	JNJ	Johnson & Johnson	Stock-Healthcare	1.43%	+0.04%	—
11	TSLA	Tesla INC	Stock-Consumer Disc	0.94%	—	+5.08%
12	WMT	Walmart INC	Stock-Consumer Staples	0.87%	+0.62%	+246.31%
13	MRK	Merck & Co. INC.	Stock-Healthcare	0.85%	—	-10.02%
14	GILD	Gilead Sciences INC	Stock-Healthcare	0.84%	—	-9.73%
15	JPM	Jpmorgan Chase & Co	Stock-Financials	0.83%	—	+5.12%
16	V	Visa Inc-class A Shares	Stock-Financials	0.82%	+0.07%	+15.15%
17	HCA	Hca Healthcare INC	Stock-Healthcare	0.80%	—	-2.85%
18	BMY	Bristol-myers Squibb Co	Stock-Healthcare	0.72%	—	—
19	DG	Dollar General CORP	Stock-Consumer Staples	0.72%	+0.11%	-0.14%
20	VZ	Verizon Communications INC	Stock-Comm Services	0.70%	—	+4.53%
21	MO	Altria Group INC	Stock-Consumer Staples	0.68%	-0.23%	-5.96%
22	YUM	Yum! Brands INC	Stock-Consumer Disc	0.68%	+0.08%	+23.54%
23	MU	Micron Technology INC	Stock-Tech	0.68%	+0.42%	+68.04%
24	ABT	Abbott Laboratories	Stock-Healthcare	0.67%	—	+9.38%
25	T	At&t INC	Stock-Comm Services	0.66%	—	—
26	UHS	Universal Health Services-b	Stock-Healthcare	0.61%	+0.08%	+17.68%
27	LLY	Eli Lilly & Co	Stock-Healthcare	0.61%	+0.22%	+21.18%
28	GS	Goldman Sachs Group INC	Stock-Financials	0.61%	—	-12.30%
29	CL	Colgate-palmolive Co	Stock-Consumer Staples	0.60%	—	-4.81%
30	LRCX	Lam Research CORP	Stock-Tech	0.59%	—	-2.74%
31	BRK-B	Berkshire Hathaway Inc-cl B	Stock-Other	0.59%	—	-7.52%
32	PCAR	Paccar INC	Stock-Industrials	0.53%	—	-14.54%
33	KR	Kroger Co	Stock-Consumer Staples	0.52%	-0.19%	-13.44%
34	TXT	Textron INC	Stock-Industrials	0.49%	—	—
35	CBOE	Cboe Global Markets INC	Stock-Financials	0.48%	—	—
36	CTSH	Cognizant Tech Solutions-a	Stock-Tech	0.47%	+0.12%	+18.24%
37	GE	General Electric	Stock-Industrials	0.47%	—	-5.67%
38	FOXA	Fox CORP - Class A	Stock-Comm Services	0.47%	—	+11.82%
39	EBAY	Ebay INC	Stock-Consumer Disc	0.47%	—	-15.86%
40	C	Citigroup INC	Stock-Financials	0.47%	-0.25%	-38.16%
41	SPG	Simon Property Group INC	Stock-Real Estate	0.47%	—	-2.25%
42	IBM	Intl Business Machines CORP	Stock-Tech	0.46%	+0.37%	+424.63%
43	MS	Morgan Stanley	Stock-Financials	0.46%	-0.21%	-33.99%
44	INCY	Incyte CORP	Stock-Healthcare	0.45%	—	—
45	NFLX	Netflix INC	Stock-Comm Services	0.45%	-0.26%	+777.75%
46	BKNG	Booking Holdings INC	Stock-Consumer Disc	0.44%	—	+5.36%
47	ABBV	Abbvie INC	Stock-Healthcare	0.44%	—	+10.92%
48	VRSN	Verisign INC	Stock-Tech	0.43%	-0.37%	-32.71%
49	SNA	Snap-on INC	Stock-Industrials	0.43%	—	+16.42%
50	WELL	Welltower INC	Stock-Real Estate	0.43%	—	+16.11%

1–50 of 949

Portfolio Performance

Performance for Q3 2026

+4.8%

Performance Last 4 Quarters

+23.9%

Based on 77% of reported portfolio value with available pricing

Stdev: +13%
Beta: +0.94
Alpha: -0.9%
Max Drawdown: -8.5%
Annualized Perf: +16.9%
Batting Avg vs S&P: +38.9%
Sortino: +2.49
Stutzer: +0.37
Treynor: +0.18
Sterling: +1.01
Calmar: +1.99
Information Ratio: -0.47
Tracking Error: +4.2%
Stdev Down: +6.6%
Winning Months %: +66.7%
Losing Months %: +33.3%
Best 12 Months: +32.4%
Worst 12 Months: +5.8%
Efficiency Ratio: +0.5
Sharpe: +1.27
Stdev Sectors: +12.1%
Skewness: +0.06
Kurtosis: -0.36
Upside Potential: +4.24

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2025-12-31	949	$16.8B	27	1AAPL 2NVDA 3MSFT Top holdings2025-12-31 1.AAPL 2.NVDA 3.MSFT 4.AMZN 5.GOOGL 6.META 7.AVGO 8.GOOG 9.IVV 10.JNJ
2025-09-30	927	$15.4B	100	1NVDA 2MSFT 3AAPL Top holdings2025-09-30 1.NVDA 2.MSFT 3.AAPL 4.META 5.AMZN 6.GOOGL 7.GOOG 8.AVGO 9.JNJ 10.TSLA
2025-06-30	932	$14.5B	0	1NVDA 2MSFT 3AAPL Top holdings2025-06-30 1.NVDA 2.MSFT 3.AAPL 4.AMZN 5.META 6.GOOGL 7.GOOG 8.AVGO 9.JPM 10.JNJ
2025-03-31	1015	$13.5B	0	1AAPL 2NVDA 3MSFT Top holdings2025-03-31 1.AAPL 2.NVDA 3.MSFT 4.AMZN 5.META 6.GOOGL 7.JNJ 8.GOOG 9.JPM 10.GILD
2023-09-30	935	$10.1B	0	1AAPL 2MSFT 3AVGO Top holdings2023-09-30 1.AAPL 2.MSFT 3.AVGO 4.NVDA 5.GOOGL 6.AMZN 7.META 8.CSCO 9.GOOG 10.MRK
2023-06-30	963	$10.4B	0	1AAPL 2MSFT 3AVGO Top holdings2023-06-30 1.AAPL 2.MSFT 3.AVGO 4.AMZN 5.NVDA 6.GOOGL 7.MRK 8.META 9.XOM 10.CSCO
2023-03-31	1027	$9.7B	0	1AAPL 2MSFT 3AVGO Top holdings2023-03-31 1.AAPL 2.MSFT 3.AVGO 4.XOM 5.MRK 6.CSCO 7.AMZN 8.GOOGL 9.ACN 10.BRK-B
2022-12-31	1116	$9.6B	0	1AAPL 2MSFT 3PLD Top holdings2022-12-31 1.AAPL 2.MSFT 3.PLD 4.BRK-B 5.MRK 6.XOM 7.JNJ 8.AVGO 9.AMZN 10.UNH
2022-09-30	1146	$8.8B	0	1AAPL 2MSFT 3AMZN Top holdings2022-09-30 1.AAPL 2.MSFT 3.AMZN 4.GOOGL 5.GOOG 6.UNH 7.BRK-B 8.JNJ 9.TSLA 10.PSA
2022-03-31	1108	$10.7B	0	1AAPL 2MSFT 3GOOGL Top holdings2022-03-31 1.AAPL 2.MSFT 3.GOOGL 4.AMZN 5.GOOG 6.BRK-B 7.COST 8.TSLA 9.PLD 10.JNJ
2021-12-31	1097	$14.7B	0	1WOLF2ONL 3AAPL Top holdings2021-12-31 1.WOLF 2.ONL 3.AAPL 4.KD 5.MSFT 6.TSVT* 7.LYLTUSD 8.ZWS 9.DOUG 10.AMZN
2021-09-30	979	$9.8B	0	1AAPL 2MSFT 3AMZN Top holdings2021-09-30 1.AAPL 2.MSFT 3.AMZN 4.GOOGL 5.GOOG 6.META 7.JNJ 8.BRK-B 9.ACN 10.VZ
2021-06-30	1011	$10.2B	100	1AAPL 2MSFT 3AMZN Top holdings2021-06-30 1.AAPL 2.MSFT 3.AMZN 4.GOOGL 5.META 6.GOOG 7.JNJ 8.BRK-B 9.VZ 10.ACN
2021-03-31	1097	$10.2B	29	1AAPL 2MSFT 3AMZN Top holdings2021-03-31 1.AAPL 2.MSFT 3.AMZN 4.JNJ 5.GOOGL 6.META 7.GOOG 8.BRK-B 9.VZ 10.ACN
2020-12-31	1096	$9.5B	23	1AAPL 2MSFT 3AMZN Top holdings2020-12-31 1.AAPL 2.MSFT 3.AMZN 4.JNJ 5.META 6.GOOGL 7.GOOG 8.VZ 9.ACN 10.BMY
2020-09-30	1076	$8.8B	21	1AAPL 2MSFT 3AMZN Top holdings2020-09-30 1.AAPL 2.MSFT 3.AMZN 4.JNJ 5.META 6.VZ 7.V 8.GOOGL 9.MA 10.GOOG
2020-06-30	1084	$8.5B	38	1AAPL 2MSFT 3AMZN Top holdings2020-06-30 1.AAPL 2.MSFT 3.AMZN 4.JNJ 5.V 6.META 7.ADBE 8.VZ 9.GOOGL 10.INTC
2020-03-31	1077	$7.3B	36	1AAPL 2MSFT 3JNJ Top holdings2020-03-31 1.AAPL 2.MSFT 3.JNJ 4.AMZN 5.V 6.VZ 7.MA 8.GOOGL 9.BMY 10.META
2019-12-31	1121	$9.3B	26	1MSFT 2AAPL 3JNJ Top holdings2019-12-31 1.MSFT 2.AAPL 3.JNJ 4.V 5.VZ 6.AMZN 7.MA 8.META 9.GOOGL 10.GOOG
2019-09-30	1102	$8.9B	21	1MSFT 2AAPL 3JNJ Top holdings2019-09-30 1.MSFT 2.AAPL 3.JNJ 4.V 5.AMZN 6.VZ 7.MA 8.GOOGL 9.XOM 10.META
2019-06-30	1109	$8.7B	24	1MSFT 2AAPL 3AMZN Top holdings2019-06-30 1.MSFT 2.AAPL 3.AMZN 4.JNJ 5.V 6.XOM 7.META 8.MA 9.VZ 10.CVX
2019-03-31	1051	$8.5B	32	1AAPL 2MSFT 3AMZN Top holdings2019-03-31 1.AAPL 2.MSFT 3.AMZN 4.JNJ 5.V 6.XOM 7.INTC 8.MA 9.GOOG 10.VZ
2018-12-31	1050	$7.4B	34	1AAPL 2MSFT 3JNJ Top holdings2018-12-31 1.AAPL 2.MSFT 3.JNJ 4.AMZN 5.V 6.XOM 7.VZ 8.CVX 9.INTC 10.GOOG
2018-09-30	1024	$8.6B	24	1AAPL 2MSFT 3AMZN Top holdings2018-09-30 1.AAPL 2.MSFT 3.AMZN 4.JNJ 5.XOM 6.V 7.VZ 8.CVX 9.META 10.GOOG
2018-06-30	1025	$8.2B	37	1AAPL 2MSFT 3AMZN Top holdings2018-06-30 1.AAPL 2.MSFT 3.AMZN 4.META 5.XOM 6.JNJ 7.CVX 8.VZ 9.GOOG 10.V
2018-03-31	975	$8.3B	21	1AAPL 2MSFT 3META Top holdings2018-03-31 1.AAPL 2.MSFT 3.META 4.JNJ 5.AMZN 6.XOM 7.BRK-B 8.GOOG 9.CVX 10.HD
2017-12-31	978	$8.5B	20	1AAPL 2MSFT 3JNJ Top holdings2017-12-31 1.AAPL 2.MSFT 3.JNJ 4.META 5.XOM 6.AMZN 7.GOOG 8.V 9.BRK-B 10.CVX
2017-09-30	1017	$8.2B	30	1AAPL 2JNJ 3MSFT Top holdings2017-09-30 1.AAPL 2.JNJ 3.MSFT 4.META 5.XOM 6.GOOG 7.V 8.T 9.BRK-B 10.CVX
2017-06-30	1046	$8.0B	23	1AAPL 2MSFT 3JNJ Top holdings2017-06-30 1.AAPL 2.MSFT 3.JNJ 4.XOM 5.META 6.GOOG 7.BRK-B 8.CVX 9.T 10.V
2017-03-31	1114	$7.8B	25	1AAPL 2MSFT 3JNJ Top holdings2017-03-31 1.AAPL 2.MSFT 3.JNJ 4.XOM 5.META 6.CVX 7.GOOG 8.BRK-B 9.V 10.T
2016-12-31	970	$7.2B	27	1AAPL 2XOM 3JNJ Top holdings2016-12-31 1.AAPL 2.XOM 3.JNJ 4.MSFT 5.CVX 6.META 7.BRK-B 8.GOOG 9.VZ 10.JPM
2016-09-30	931	$6.9B	26	1AAPL 2XOM 3JNJ Top holdings2016-09-30 1.AAPL 2.XOM 3.JNJ 4.MSFT 5.META 6.AMZN 7.CVX 8.GOOG 9.T 10.V
2016-06-30	946	$6.8B	43	1AAPL 2XOM 3JNJ Top holdings2016-06-30 1.AAPL 2.XOM 3.JNJ 4.MSFT 5.T 6.CVX 7.META 8.AMZN 9.AEP 10.VZ
2015-12-31	1010	$6.7B	26	1AAPL 2MSFT 3JNJ Top holdings2015-12-31 1.AAPL 2.MSFT 3.JNJ 4.XOM 5.WFC 6.AMZN 7.T 8.GOOG 9.AEP 10.BRK-B
2015-09-30	987	$6.5B	28	1AAPL 2JNJ 3XOM Top holdings2015-09-30 1.AAPL 2.JNJ 3.XOM 4.MSFT 5.WFC 6.T 7.BRK-B 8.JPM 9.AMZN 10.VZ
2015-06-30	989	$6.6B	23	1AAPL 2MSFT 3JNJ Top holdings2015-06-30 1.AAPL 2.MSFT 3.JNJ 4.XOM 5.WFC 6.JPM 7.VZ 8.BRK-B 9.DIS 10.CVS
2015-03-31	989	$6.6B	28	1AAPL 2XOM 3JNJ Top holdings2015-03-31 1.AAPL 2.XOM 3.JNJ 4.WFC 5.MSFT 6.BRK-B 7.PEP 8.CVX 9.CVS 10.AEP
2014-12-31	975	$6.4B	25	1AAPL 2XOM 3MSFT Top holdings2014-12-31 1.AAPL 2.XOM 3.MSFT 4.JNJ 5.WFC 6.BRK-B 7.INTC 8.CVX 9.JPM 10.VZ
2014-09-30	958	$6.0B	24	1AAPL 2XOM 3MSFT Top holdings2014-09-30 1.AAPL 2.XOM 3.MSFT 4.JNJ 5.VZ 6.WFC 7.INTC 8.JPM 9.BRK-B 10.CVX
2014-06-30	950	$5.8B	27	1AAPL 2XOM 3JNJ Top holdings2014-06-30 1.AAPL 2.XOM 3.JNJ 4.MSFT 5.CVX 6.VZ 7.WFC 8.INTC 9.AEP 10.BRK-B
2014-03-31	946	$5.3B	26	1AAPL 2XOM 3JNJ Top holdings2014-03-31 1.AAPL 2.XOM 3.JNJ 4.MSFT 5.GOOG 6.CVX 7.VZ 8.WFC 9.AEP 10.BRK-B
2013-12-31	859	$5.0B	27	1AAPL 2XOM 3GOOG Top holdings2013-12-31 1.AAPL 2.XOM 3.GOOG 4.JNJ 5.MSFT 6.CVX 7.AEP 8.WFC 9.WMT 10.QCOM
2013-09-30	816	$4.7B	36	1AAPL 2XOM 3CVX Top holdings2013-09-30 1.AAPL 2.XOM 3.CVX 4.JNJ 5.GOOG 6.WMT 7.VZ 8.QCOM 9.V 10.AEP
2013-06-30	963	$5.3B	0	1XOM 2AAPL 3CVX Top holdings2013-06-30 1.XOM 2.AAPL 3.CVX 4.JNJ 5.MSFT 6.GOOG 7.VZ 8.WMT 9.V 10.BKCCUSD

Holding changes this quarter

VIRGINIA RETIREMENT SYSTEMS ET Al's most significant position changes for 2025-12-31: New buy: Ishares Core S&p 500 ETF (IVV); Sold out: Cintas CORP (CTAS); Sold out: United Therapeutics CORP (UTHR); Add: Amazon.com INC (AMZN) — shares +52.60%; Add: Alphabet Inc-cl A (GOOGL) — shares +35.43%.

Position changes disclosed by VIRGINIA RETIREMENT SYSTEMS ET Al for the quarter ending 2025-12-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	AMZN	Amazon.com INC	+1.2%	+52.60%	Add
2	GOOGL	Alphabet Inc-cl A	+1.2%	+35.43%	Add
3	WMT	Walmart INC	+0.6%	+246.31%	Add
4	AAPL	Apple INC	+0.6%	+12.86%	Add
5	AVGO	Broadcom INC	+0.4%	+32.42%	Add
6	MU	Micron Technology INC	+0.4%	+68.04%	Add
7	GOOG	Alphabet Inc-cl C	+0.4%	+5.61%	Add
8	IBM	Intl Business Machines CORP	+0.4%	+424.63%	Add
9	DUK	Duke Energy CORP	+0.3%	+447.29%	Add
10	APP	Applovin Corp-class A	+0.2%	+176.09%	Add
11	LLY	Eli Lilly & Co	+0.2%	+21.18%	Add
12	ZM	Zoom Communications INC	+0.2%	+106.60%	Add
13	WDC	Western Digital CORP	+0.2%	+98.32%	Add
14	EXPE	Expedia Group INC	+0.2%	+1208.64%	Add
15	FDX	Fedex CORP	+0.2%	+89.49%	Add
16	EME	Emcor Group INC	+0.1%	+98.64%	Add
17	LVS	Las Vegas Sands CORP	+0.1%	+2990.27%	Add
18	TEL	TE Connectivity plc	+0.1%	+99.52%	Add
19	CSCO	Cisco Systems INC	+0.1%	+270.22%	Add
20	CTSH	Cognizant Tech Solutions-a	+0.1%	+18.24%	Add
21	ADBE	Adobe INC	+0.1%	+61.90%	Add
22	AEP	American Electric Power	+0.1%	+280.51%	Add
23	DVN	Devon Energy CORP	+0.1%	+552.10%	Add
24	DG	Dollar General CORP	+0.1%	-0.14%	Trim
25	NOC	Northrop Grumman CORP	+0.1%	+70.17%	Add
26	CCL1EUR	Carnival CORP LTD	+0.1%	+83.43%	Add
27	YUM	Yum! Brands INC	+0.1%	+23.54%	Add
28	UHS	Universal Health Services-b	+0.1%	+17.68%	Add
29	V	Visa Inc-class A Shares	+0.1%	+15.15%	Add
30	JNJ	Johnson & Johnson	0%	—	Unchanged
31	DIS	Walt Disney Co/the	-0.2%	-51.62%	Trim
32	SYF	Synchrony Financial	-0.2%	-40.13%	Trim
33	OC	Owens Corning	-0.2%	-16.90%	Trim
34	DBX	Dropbox Inc-class A	-0.2%	-32.22%	Trim
35	AKAM	Akamai Technologies INC	-0.2%	-42.27%	Trim
36	PSA	Public Storage	-0.2%	-15.31%	Trim
37	KR	Kroger Co	-0.2%	-13.44%	Trim
38	AFL	Aflac INC	-0.2%	-45.17%	Trim
39	ORCL	Oracle CORP	-0.2%	-23.05%	Trim
40	MS	Morgan Stanley	-0.2%	-33.99%	Trim
41	MO	Altria Group INC	-0.2%	-5.96%	Trim
42	C	Citigroup INC	-0.3%	-38.16%	Trim
43	NFLX	Netflix INC	-0.3%	+777.75%	Add
44	VICI	Vici Properties INC	-0.4%	-37.85%	Trim
45	VRSN	Verisign INC	-0.4%	-32.71%	Trim
46	MSFT	Microsoft CORP	-0.7%	+2.16%	Add
47	NVDA	Nvidia CORP	-0.9%	-5.31%	Trim
48	IVV	Ishares Core S&p 500 ETF	—	NEW	New buy
49	CTAS	Cintas CORP	—	EXIT	Sold out
50	UTHR	United Therapeutics CORP	—	EXIT	Sold out

FAQ

What is VIRGINIA RETIREMENT SYSTEMS ET Al and what type of investor is it?

VIRGINIA RETIREMENT SYSTEMS ET Al is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2025-12-31), the firm manages a tracked equity portfolio valued at approximately $16.8B, spread across 949 disclosed positions.

What are VIRGINIA RETIREMENT SYSTEMS ET Al's largest equity positions?

Based on the latest 13F filing, VIRGINIA RETIREMENT SYSTEMS ET Al's top holdings by market value are: 1. Apple INC (AAPL) — $1.1B (6.3%) 2. Nvidia CORP (NVDA) — $938.2M (5.6%) 3. Microsoft CORP (MSFT) — $845.0M (5.0%) 4. Amazon.com INC (AMZN) — $642.3M (3.8%) 5. Alphabet Inc-cl A (GOOGL) — $526.2M (3.1%)

What changes did VIRGINIA RETIREMENT SYSTEMS ET Al make in its most recent portfolio filing?

In the latest reported quarter, VIRGINIA RETIREMENT SYSTEMS ET Al made 49 notable position adjustments: 1 new positions were initiated, 30 existing holdings were added to, 16 positions were partially reduced, and 2 were completely exited. The largest of these moves: New buy: Ishares Core S&p 500 ETF (IVV); Sold out: Cintas CORP (CTAS); Sold out: United Therapeutics CORP (UTHR); Add: Amazon.com INC (AMZN) — shares +52.60%; Add: Alphabet Inc-cl A (GOOGL) — shares +35.43%

What sectors does VIRGINIA RETIREMENT SYSTEMS ET Al focus on?

VIRGINIA RETIREMENT SYSTEMS ET Al is concentrated in the following sectors based on its current disclosed equity portfolio: • Information Technology: 42.6% • Communication Services: 16.9% • Consumer Discretionary: 11.6% • Health Care: 11.6% • Financials: 9.0% • Consumer Staples: 3.9%

Peer Institutions

Institutions with a similar AUM

Macquarie Group LTD

CIK 0001418333

Total reported value

$16.8B

1,301 stks

2026-03-31

Concentration6.7

Portfolio Stability49.3

Sector conviction41.6

AUM within 0.2% of this institution

View detail

Capitolis Liquid Global Markets LLC

CIK 0001960050

Total reported value

$16.8B

317 stks

2025-12-31

Stale — no recent filing

Concentration9.2

Portfolio Stability57.5

Sector conviction65.7

AUM within 0.2% of this institution

View detail

Commonwealth Equity Services, Inc

CIK 0001333978

Total reported value

$16.7B

2,565 stks

2017-09-30

Stale — no recent filing

Concentration2.6

Portfolio Stability10.6

Sector conviction42.4

AUM within 0.6% of this institution

View detail

Similar Holdings Style

Institutions with overlapping top holdings

Adams Diversified Equity Fund, INC.

CIK 0000002230

Total reported value

$2.8B

99 stks

2026-03-31

Concentration10.3

Portfolio Stability36.4

Sector conviction68.6

5 of the top 5 holdings overlap, including Nvidia CORP

View detail

Franklin Resources INC

CIK 0000038777

Total reported value

$408.3B

14,782 stks

2026-03-31

Concentration3.7

Portfolio Stability24.2

Sector conviction39.7

5 of the top 5 holdings overlap, including Nvidia CORP

View detail

Northern Trust CORP

CIK 0000073124

Total reported value

$756.6B

19,864 stks

2026-03-31

Concentration4.9

Portfolio Stability14.1

Sector conviction48.4

5 of the top 5 holdings overlap, including Nvidia CORP

View detail

VIRGINIA RETIREMENT SYSTEMS ET Al 13F Filings Tracker & Analysis

Diversified strategyMomentum followerSector-focused

Total reported value

$16.8B

Reporting period: 2025-12-31 · Number of holdings: 949

VIRGINIA RETIREMENT SYSTEMS ET Al disclosed 949 holdings in its latest 13F filing for the period ending 2025-12-31, with total reported value of $16.8B and a quarterly turnover rate of 27.1%.

Browse other institutions with $10B to $100B AUM Browse other institutions starting with "V"

Personality snowflake

Concentration: 6.57
Portfolio Stability: 27.05
Momentum/Contrarian: 100
Sector conviction: 74.15
Diversification: 100
Sizing Uniformity: 61.79

Recent moves

Add AMZN
+52.6%　$241.9M
Add GOOGL
+35.4%　$224.4M
Trim NVDA
-5.3%　-$53.0M
Trim MSFT
+2.2%　-$40.8M
Add WMT
+246.3%　$106.7M
Add AAPL
+12.9%　$179.4M

Holdings Map

New buyAddUnchangedTrim

Institutional Game-State Analysis

Core Intent

Macro & Fundamentals

Blind Spots / Risks

This overview is machine-generated from public regulatory data and describes past filings only — it does not constitute financial advice.

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	AAPL	Apple INC	Stock-Tech	6.28%	+0.60%	+12.86%
2	NVDA	Nvidia CORP	Stock-Tech	5.58%	-0.85%	-5.31%
3	MSFT	Microsoft CORP	Stock-Tech	5.03%	-0.72%	+2.16%
4	AMZN	Amazon.com INC	Stock-Consumer Disc	3.82%	+1.22%	+52.60%
5	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	3.13%	+1.17%	+35.43%
6	META	Meta Platforms Inc-class A	Stock-Comm Services	2.59%	—	+16.47%
7	AVGO	Broadcom INC	Stock-Tech	1.99%	+0.43%	+32.42%
8	GOOG	Alphabet Inc-cl C	Stock-Comm Services	1.95%	+0.38%	+5.61%
9	IVV	Ishares Core S&p 500 ETF	ETF-Large Cap & Growth	1.90%	+1.90%	NEW
10	JNJ	Johnson & Johnson	Stock-Healthcare	1.43%	+0.04%	—
11	TSLA	Tesla INC	Stock-Consumer Disc	0.94%	—	+5.08%
12	WMT	Walmart INC	Stock-Consumer Staples	0.87%	+0.62%	+246.31%
13	MRK	Merck & Co. INC.	Stock-Healthcare	0.85%	—	-10.02%
14	GILD	Gilead Sciences INC	Stock-Healthcare	0.84%	—	-9.73%
15	JPM	Jpmorgan Chase & Co	Stock-Financials	0.83%	—	+5.12%
16	V	Visa Inc-class A Shares	Stock-Financials	0.82%	+0.07%	+15.15%
17	HCA	Hca Healthcare INC	Stock-Healthcare	0.80%	—	-2.85%
18	BMY	Bristol-myers Squibb Co	Stock-Healthcare	0.72%	—	—
19	DG	Dollar General CORP	Stock-Consumer Staples	0.72%	+0.11%	-0.14%
20	VZ	Verizon Communications INC	Stock-Comm Services	0.70%	—	+4.53%
21	MO	Altria Group INC	Stock-Consumer Staples	0.68%	-0.23%	-5.96%
22	YUM	Yum! Brands INC	Stock-Consumer Disc	0.68%	+0.08%	+23.54%
23	MU	Micron Technology INC	Stock-Tech	0.68%	+0.42%	+68.04%
24	ABT	Abbott Laboratories	Stock-Healthcare	0.67%	—	+9.38%
25	T	At&t INC	Stock-Comm Services	0.66%	—	—
26	UHS	Universal Health Services-b	Stock-Healthcare	0.61%	+0.08%	+17.68%
27	LLY	Eli Lilly & Co	Stock-Healthcare	0.61%	+0.22%	+21.18%
28	GS	Goldman Sachs Group INC	Stock-Financials	0.61%	—	-12.30%
29	CL	Colgate-palmolive Co	Stock-Consumer Staples	0.60%	—	-4.81%
30	LRCX	Lam Research CORP	Stock-Tech	0.59%	—	-2.74%
31	BRK-B	Berkshire Hathaway Inc-cl B	Stock-Other	0.59%	—	-7.52%
32	PCAR	Paccar INC	Stock-Industrials	0.53%	—	-14.54%
33	KR	Kroger Co	Stock-Consumer Staples	0.52%	-0.19%	-13.44%
34	TXT	Textron INC	Stock-Industrials	0.49%	—	—
35	CBOE	Cboe Global Markets INC	Stock-Financials	0.48%	—	—
36	CTSH	Cognizant Tech Solutions-a	Stock-Tech	0.47%	+0.12%	+18.24%
37	GE	General Electric	Stock-Industrials	0.47%	—	-5.67%
38	FOXA	Fox CORP - Class A	Stock-Comm Services	0.47%	—	+11.82%
39	EBAY	Ebay INC	Stock-Consumer Disc	0.47%	—	-15.86%
40	C	Citigroup INC	Stock-Financials	0.47%	-0.25%	-38.16%
41	SPG	Simon Property Group INC	Stock-Real Estate	0.47%	—	-2.25%
42	IBM	Intl Business Machines CORP	Stock-Tech	0.46%	+0.37%	+424.63%
43	MS	Morgan Stanley	Stock-Financials	0.46%	-0.21%	-33.99%
44	INCY	Incyte CORP	Stock-Healthcare	0.45%	—	—
45	NFLX	Netflix INC	Stock-Comm Services	0.45%	-0.26%	+777.75%
46	BKNG	Booking Holdings INC	Stock-Consumer Disc	0.44%	—	+5.36%
47	ABBV	Abbvie INC	Stock-Healthcare	0.44%	—	+10.92%
48	VRSN	Verisign INC	Stock-Tech	0.43%	-0.37%	-32.71%
49	SNA	Snap-on INC	Stock-Industrials	0.43%	—	+16.42%
50	WELL	Welltower INC	Stock-Real Estate	0.43%	—	+16.11%

1–50 of 949

Portfolio Performance

Performance for Q3 2026

+4.8%

Performance Last 4 Quarters

+23.9%

Based on 77% of reported portfolio value with available pricing

Stdev: +13%
Beta: +0.94
Alpha: -0.9%
Max Drawdown: -8.5%
Annualized Perf: +16.9%
Batting Avg vs S&P: +38.9%
Sortino: +2.49
Stutzer: +0.37
Treynor: +0.18
Sterling: +1.01
Calmar: +1.99
Information Ratio: -0.47
Tracking Error: +4.2%
Stdev Down: +6.6%
Winning Months %: +66.7%
Losing Months %: +33.3%
Best 12 Months: +32.4%
Worst 12 Months: +5.8%
Efficiency Ratio: +0.5
Sharpe: +1.27
Stdev Sectors: +12.1%
Skewness: +0.06
Kurtosis: -0.36
Upside Potential: +4.24

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2025-12-31	949	$16.8B	27	1AAPL 2NVDA 3MSFT Top holdings2025-12-31 1.AAPL 2.NVDA 3.MSFT 4.AMZN 5.GOOGL 6.META 7.AVGO 8.GOOG 9.IVV 10.JNJ
2025-09-30	927	$15.4B	100	1NVDA 2MSFT 3AAPL Top holdings2025-09-30 1.NVDA 2.MSFT 3.AAPL 4.META 5.AMZN 6.GOOGL 7.GOOG 8.AVGO 9.JNJ 10.TSLA
2025-06-30	932	$14.5B	0	1NVDA 2MSFT 3AAPL Top holdings2025-06-30 1.NVDA 2.MSFT 3.AAPL 4.AMZN 5.META 6.GOOGL 7.GOOG 8.AVGO 9.JPM 10.JNJ
2025-03-31	1015	$13.5B	0	1AAPL 2NVDA 3MSFT Top holdings2025-03-31 1.AAPL 2.NVDA 3.MSFT 4.AMZN 5.META 6.GOOGL 7.JNJ 8.GOOG 9.JPM 10.GILD
2023-09-30	935	$10.1B	0	1AAPL 2MSFT 3AVGO Top holdings2023-09-30 1.AAPL 2.MSFT 3.AVGO 4.NVDA 5.GOOGL 6.AMZN 7.META 8.CSCO 9.GOOG 10.MRK
2023-06-30	963	$10.4B	0	1AAPL 2MSFT 3AVGO Top holdings2023-06-30 1.AAPL 2.MSFT 3.AVGO 4.AMZN 5.NVDA 6.GOOGL 7.MRK 8.META 9.XOM 10.CSCO
2023-03-31	1027	$9.7B	0	1AAPL 2MSFT 3AVGO Top holdings2023-03-31 1.AAPL 2.MSFT 3.AVGO 4.XOM 5.MRK 6.CSCO 7.AMZN 8.GOOGL 9.ACN 10.BRK-B
2022-12-31	1116	$9.6B	0	1AAPL 2MSFT 3PLD Top holdings2022-12-31 1.AAPL 2.MSFT 3.PLD 4.BRK-B 5.MRK 6.XOM 7.JNJ 8.AVGO 9.AMZN 10.UNH
2022-09-30	1146	$8.8B	0	1AAPL 2MSFT 3AMZN Top holdings2022-09-30 1.AAPL 2.MSFT 3.AMZN 4.GOOGL 5.GOOG 6.UNH 7.BRK-B 8.JNJ 9.TSLA 10.PSA
2022-03-31	1108	$10.7B	0	1AAPL 2MSFT 3GOOGL Top holdings2022-03-31 1.AAPL 2.MSFT 3.GOOGL 4.AMZN 5.GOOG 6.BRK-B 7.COST 8.TSLA 9.PLD 10.JNJ
2021-12-31	1097	$14.7B	0	1WOLF2ONL 3AAPL Top holdings2021-12-31 1.WOLF 2.ONL 3.AAPL 4.KD 5.MSFT 6.TSVT* 7.LYLTUSD 8.ZWS 9.DOUG 10.AMZN
2021-09-30	979	$9.8B	0	1AAPL 2MSFT 3AMZN Top holdings2021-09-30 1.AAPL 2.MSFT 3.AMZN 4.GOOGL 5.GOOG 6.META 7.JNJ 8.BRK-B 9.ACN 10.VZ
2021-06-30	1011	$10.2B	100	1AAPL 2MSFT 3AMZN Top holdings2021-06-30 1.AAPL 2.MSFT 3.AMZN 4.GOOGL 5.META 6.GOOG 7.JNJ 8.BRK-B 9.VZ 10.ACN
2021-03-31	1097	$10.2B	29	1AAPL 2MSFT 3AMZN Top holdings2021-03-31 1.AAPL 2.MSFT 3.AMZN 4.JNJ 5.GOOGL 6.META 7.GOOG 8.BRK-B 9.VZ 10.ACN
2020-12-31	1096	$9.5B	23	1AAPL 2MSFT 3AMZN Top holdings2020-12-31 1.AAPL 2.MSFT 3.AMZN 4.JNJ 5.META 6.GOOGL 7.GOOG 8.VZ 9.ACN 10.BMY
2020-09-30	1076	$8.8B	21	1AAPL 2MSFT 3AMZN Top holdings2020-09-30 1.AAPL 2.MSFT 3.AMZN 4.JNJ 5.META 6.VZ 7.V 8.GOOGL 9.MA 10.GOOG
2020-06-30	1084	$8.5B	38	1AAPL 2MSFT 3AMZN Top holdings2020-06-30 1.AAPL 2.MSFT 3.AMZN 4.JNJ 5.V 6.META 7.ADBE 8.VZ 9.GOOGL 10.INTC
2020-03-31	1077	$7.3B	36	1AAPL 2MSFT 3JNJ Top holdings2020-03-31 1.AAPL 2.MSFT 3.JNJ 4.AMZN 5.V 6.VZ 7.MA 8.GOOGL 9.BMY 10.META
2019-12-31	1121	$9.3B	26	1MSFT 2AAPL 3JNJ Top holdings2019-12-31 1.MSFT 2.AAPL 3.JNJ 4.V 5.VZ 6.AMZN 7.MA 8.META 9.GOOGL 10.GOOG
2019-09-30	1102	$8.9B	21	1MSFT 2AAPL 3JNJ Top holdings2019-09-30 1.MSFT 2.AAPL 3.JNJ 4.V 5.AMZN 6.VZ 7.MA 8.GOOGL 9.XOM 10.META
2019-06-30	1109	$8.7B	24	1MSFT 2AAPL 3AMZN Top holdings2019-06-30 1.MSFT 2.AAPL 3.AMZN 4.JNJ 5.V 6.XOM 7.META 8.MA 9.VZ 10.CVX
2019-03-31	1051	$8.5B	32	1AAPL 2MSFT 3AMZN Top holdings2019-03-31 1.AAPL 2.MSFT 3.AMZN 4.JNJ 5.V 6.XOM 7.INTC 8.MA 9.GOOG 10.VZ
2018-12-31	1050	$7.4B	34	1AAPL 2MSFT 3JNJ Top holdings2018-12-31 1.AAPL 2.MSFT 3.JNJ 4.AMZN 5.V 6.XOM 7.VZ 8.CVX 9.INTC 10.GOOG
2018-09-30	1024	$8.6B	24	1AAPL 2MSFT 3AMZN Top holdings2018-09-30 1.AAPL 2.MSFT 3.AMZN 4.JNJ 5.XOM 6.V 7.VZ 8.CVX 9.META 10.GOOG
2018-06-30	1025	$8.2B	37	1AAPL 2MSFT 3AMZN Top holdings2018-06-30 1.AAPL 2.MSFT 3.AMZN 4.META 5.XOM 6.JNJ 7.CVX 8.VZ 9.GOOG 10.V
2018-03-31	975	$8.3B	21	1AAPL 2MSFT 3META Top holdings2018-03-31 1.AAPL 2.MSFT 3.META 4.JNJ 5.AMZN 6.XOM 7.BRK-B 8.GOOG 9.CVX 10.HD
2017-12-31	978	$8.5B	20	1AAPL 2MSFT 3JNJ Top holdings2017-12-31 1.AAPL 2.MSFT 3.JNJ 4.META 5.XOM 6.AMZN 7.GOOG 8.V 9.BRK-B 10.CVX
2017-09-30	1017	$8.2B	30	1AAPL 2JNJ 3MSFT Top holdings2017-09-30 1.AAPL 2.JNJ 3.MSFT 4.META 5.XOM 6.GOOG 7.V 8.T 9.BRK-B 10.CVX
2017-06-30	1046	$8.0B	23	1AAPL 2MSFT 3JNJ Top holdings2017-06-30 1.AAPL 2.MSFT 3.JNJ 4.XOM 5.META 6.GOOG 7.BRK-B 8.CVX 9.T 10.V
2017-03-31	1114	$7.8B	25	1AAPL 2MSFT 3JNJ Top holdings2017-03-31 1.AAPL 2.MSFT 3.JNJ 4.XOM 5.META 6.CVX 7.GOOG 8.BRK-B 9.V 10.T
2016-12-31	970	$7.2B	27	1AAPL 2XOM 3JNJ Top holdings2016-12-31 1.AAPL 2.XOM 3.JNJ 4.MSFT 5.CVX 6.META 7.BRK-B 8.GOOG 9.VZ 10.JPM
2016-09-30	931	$6.9B	26	1AAPL 2XOM 3JNJ Top holdings2016-09-30 1.AAPL 2.XOM 3.JNJ 4.MSFT 5.META 6.AMZN 7.CVX 8.GOOG 9.T 10.V
2016-06-30	946	$6.8B	43	1AAPL 2XOM 3JNJ Top holdings2016-06-30 1.AAPL 2.XOM 3.JNJ 4.MSFT 5.T 6.CVX 7.META 8.AMZN 9.AEP 10.VZ
2015-12-31	1010	$6.7B	26	1AAPL 2MSFT 3JNJ Top holdings2015-12-31 1.AAPL 2.MSFT 3.JNJ 4.XOM 5.WFC 6.AMZN 7.T 8.GOOG 9.AEP 10.BRK-B
2015-09-30	987	$6.5B	28	1AAPL 2JNJ 3XOM Top holdings2015-09-30 1.AAPL 2.JNJ 3.XOM 4.MSFT 5.WFC 6.T 7.BRK-B 8.JPM 9.AMZN 10.VZ
2015-06-30	989	$6.6B	23	1AAPL 2MSFT 3JNJ Top holdings2015-06-30 1.AAPL 2.MSFT 3.JNJ 4.XOM 5.WFC 6.JPM 7.VZ 8.BRK-B 9.DIS 10.CVS
2015-03-31	989	$6.6B	28	1AAPL 2XOM 3JNJ Top holdings2015-03-31 1.AAPL 2.XOM 3.JNJ 4.WFC 5.MSFT 6.BRK-B 7.PEP 8.CVX 9.CVS 10.AEP
2014-12-31	975	$6.4B	25	1AAPL 2XOM 3MSFT Top holdings2014-12-31 1.AAPL 2.XOM 3.MSFT 4.JNJ 5.WFC 6.BRK-B 7.INTC 8.CVX 9.JPM 10.VZ
2014-09-30	958	$6.0B	24	1AAPL 2XOM 3MSFT Top holdings2014-09-30 1.AAPL 2.XOM 3.MSFT 4.JNJ 5.VZ 6.WFC 7.INTC 8.JPM 9.BRK-B 10.CVX
2014-06-30	950	$5.8B	27	1AAPL 2XOM 3JNJ Top holdings2014-06-30 1.AAPL 2.XOM 3.JNJ 4.MSFT 5.CVX 6.VZ 7.WFC 8.INTC 9.AEP 10.BRK-B
2014-03-31	946	$5.3B	26	1AAPL 2XOM 3JNJ Top holdings2014-03-31 1.AAPL 2.XOM 3.JNJ 4.MSFT 5.GOOG 6.CVX 7.VZ 8.WFC 9.AEP 10.BRK-B
2013-12-31	859	$5.0B	27	1AAPL 2XOM 3GOOG Top holdings2013-12-31 1.AAPL 2.XOM 3.GOOG 4.JNJ 5.MSFT 6.CVX 7.AEP 8.WFC 9.WMT 10.QCOM
2013-09-30	816	$4.7B	36	1AAPL 2XOM 3CVX Top holdings2013-09-30 1.AAPL 2.XOM 3.CVX 4.JNJ 5.GOOG 6.WMT 7.VZ 8.QCOM 9.V 10.AEP
2013-06-30	963	$5.3B	0	1XOM 2AAPL 3CVX Top holdings2013-06-30 1.XOM 2.AAPL 3.CVX 4.JNJ 5.MSFT 6.GOOG 7.VZ 8.WMT 9.V 10.BKCCUSD

Holding changes this quarter

Position changes disclosed by VIRGINIA RETIREMENT SYSTEMS ET Al for the quarter ending 2025-12-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	AMZN	Amazon.com INC	+1.2%	+52.60%	Add
2	GOOGL	Alphabet Inc-cl A	+1.2%	+35.43%	Add
3	WMT	Walmart INC	+0.6%	+246.31%	Add
4	AAPL	Apple INC	+0.6%	+12.86%	Add
5	AVGO	Broadcom INC	+0.4%	+32.42%	Add
6	MU	Micron Technology INC	+0.4%	+68.04%	Add
7	GOOG	Alphabet Inc-cl C	+0.4%	+5.61%	Add
8	IBM	Intl Business Machines CORP	+0.4%	+424.63%	Add
9	DUK	Duke Energy CORP	+0.3%	+447.29%	Add
10	APP	Applovin Corp-class A	+0.2%	+176.09%	Add
11	LLY	Eli Lilly & Co	+0.2%	+21.18%	Add
12	ZM	Zoom Communications INC	+0.2%	+106.60%	Add
13	WDC	Western Digital CORP	+0.2%	+98.32%	Add
14	EXPE	Expedia Group INC	+0.2%	+1208.64%	Add
15	FDX	Fedex CORP	+0.2%	+89.49%	Add
16	EME	Emcor Group INC	+0.1%	+98.64%	Add
17	LVS	Las Vegas Sands CORP	+0.1%	+2990.27%	Add
18	TEL	TE Connectivity plc	+0.1%	+99.52%	Add
19	CSCO	Cisco Systems INC	+0.1%	+270.22%	Add
20	CTSH	Cognizant Tech Solutions-a	+0.1%	+18.24%	Add
21	ADBE	Adobe INC	+0.1%	+61.90%	Add
22	AEP	American Electric Power	+0.1%	+280.51%	Add
23	DVN	Devon Energy CORP	+0.1%	+552.10%	Add
24	DG	Dollar General CORP	+0.1%	-0.14%	Trim
25	NOC	Northrop Grumman CORP	+0.1%	+70.17%	Add
26	CCL1EUR	Carnival CORP LTD	+0.1%	+83.43%	Add
27	YUM	Yum! Brands INC	+0.1%	+23.54%	Add
28	UHS	Universal Health Services-b	+0.1%	+17.68%	Add
29	V	Visa Inc-class A Shares	+0.1%	+15.15%	Add
30	JNJ	Johnson & Johnson	0%	—	Unchanged
31	DIS	Walt Disney Co/the	-0.2%	-51.62%	Trim
32	SYF	Synchrony Financial	-0.2%	-40.13%	Trim
33	OC	Owens Corning	-0.2%	-16.90%	Trim
34	DBX	Dropbox Inc-class A	-0.2%	-32.22%	Trim
35	AKAM	Akamai Technologies INC	-0.2%	-42.27%	Trim
36	PSA	Public Storage	-0.2%	-15.31%	Trim
37	KR	Kroger Co	-0.2%	-13.44%	Trim
38	AFL	Aflac INC	-0.2%	-45.17%	Trim
39	ORCL	Oracle CORP	-0.2%	-23.05%	Trim
40	MS	Morgan Stanley	-0.2%	-33.99%	Trim
41	MO	Altria Group INC	-0.2%	-5.96%	Trim
42	C	Citigroup INC	-0.3%	-38.16%	Trim
43	NFLX	Netflix INC	-0.3%	+777.75%	Add
44	VICI	Vici Properties INC	-0.4%	-37.85%	Trim
45	VRSN	Verisign INC	-0.4%	-32.71%	Trim
46	MSFT	Microsoft CORP	-0.7%	+2.16%	Add
47	NVDA	Nvidia CORP	-0.9%	-5.31%	Trim
48	IVV	Ishares Core S&p 500 ETF	—	NEW	New buy
49	CTAS	Cintas CORP	—	EXIT	Sold out
50	UTHR	United Therapeutics CORP	—	EXIT	Sold out