1y return+17.1%S&P 500 +20.9%
3y return+62.0%S&P 500 +68.5%
5y return+62.1%S&P 500 +74.5%
10y return+230.6%S&P 500 +256.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since June 30, 2016: $331 against $357 in the S&P 500.2
State Board Of Administration Of Florida Retirement SystemS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| NVDANvidia Corporation | $4.0B | 6.6% | −3.4% |
| AAPLApple Inc | $3.6B | 5.9% | −2.7% |
| MSFTMicrosoft Corp | $2.4B | 3.9% | −2.6% |
| AMZNAmazon Com Inc | $2.0B | 3.3% | −1.9% |
| GOOGLAlphabet Inc | $1.8B | 3.0% | −2.4% |
| AVGOBroadcom Inc | $1.5B | 2.5% | −2.1% |
| GOOGAlphabet Inc | $1.4B | 2.4% | −2.8% |
| MUMicron Technology Inc | $1.1B | 1.9% | |
| TSLATesla Inc | $1.1B | 1.8% | +1.7% |
| METAMeta Platforms Inc | $1.1B | 1.8% | −2.1% |
| LLYEli Lilly & Co | $819.7M | 1.4% | −2.9% |
| AMDAdvanced Micro Devices Inc | $817.5M | 1.4% | |
| BRK/BBerkshire Hathaway Inc Del | $778.5M | 1.3% | −2.0% |
| JPMJpmorgan Chase & Co | $745.1M | 1.2% | −4.5% |
| INTCIntel Corp | $531.0M | 0.9% | −1.5% |
| JNJJohnson & Johnson | $520.0M | 0.9% | −2.7% |
| AMATApplied Matls Inc | $493.7M | 0.8% | −2.0% |
| Exxon Mobil CorpCUSIP 30231G102 | $486.1M | 0.8% | −4.6% |
| VVisa Inc | $483.6M | 0.8% | −4.7% |
| LRCXLam Research Corp | $465.2M | 0.8% | −3.0% |
| WMTWalmart Inc | $423.4M | 0.7% | −2.2% |
| CATCaterpillar Inc | $415.8M | 0.7% | −4.3% |
| CSCOCisco Sys Inc | $397.6M | 0.7% | −2.6% |
| ABBVAbbvie Inc | $379.8M | 0.6% | −2.6% |
| COSTCostco Wholesale Corporation | $354.7M | 0.6% | −2.9% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| NVDANvidia Corporation | June 30, 2020 | +2006.7% | $4.0B |
| AVGOBroadcom Inc | June 30, 2020 | +1096.9% | $1.5B |
| AMATApplied Matls Inc | June 30, 2020 | +1096.1% | $493.7M |
| AMDAdvanced Micro Devices Inc | June 30, 2020 | +1004.1% | $817.5M |
| CATCaterpillar Inc | June 30, 2020 | +741.8% | $415.8M |
| LLYEli Lilly & Co | June 30, 2020 | +630.6% | $819.7M |
| GEVGe Vernova Inc | June 30, 2024 | +585.0% | $275.2M |
| LRCXLam Research Corp | March 31, 2025 | +496.1% | $465.2M |
| GSGoldman Sachs Group Inc | June 30, 2020 | +411.8% | $249.9M |
| GOOGLAlphabet Inc | June 30, 2020 | +404.0% | $1.8B |
Sold off last quarter
- Honeywell Intl IncCUSIP 438516106 was $125.7M
- CTRACoterra Energy Inc was $23.9M
- Carnival CorpCUSIP 143658300 was $23.2M
- Dupont De Nemours IncCUSIP 26614N102 was $18.0M
- Hologic IncCUSIP 436440101 was $15.4M
- Masimo CorpCUSIP 574795100 was $7.1M
- Air Lease CorpCUSIP 00912X302 was $5.8M
- Sealed Air Corp NewCUSIP 81211K100 was $5.7M
- Apellis Pharmaceuticals IncCUSIP 03753U106 was $3.9M
- Clearway Energy IncCUSIP 18539C105 was $1.5M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +11.5% | +14.8% |
| March 31, 2026 | −4.4% | −4.6% |
| December 31, 2025 | +2.1% | +2.4% |
| September 30, 2025 | +7.7% | +7.8% |
| June 30, 2025 | +10.7% | +10.5% |
| March 31, 2025 | −4.8% | −4.6% |
| December 31, 2024 | +2.2% | +2.1% |
| September 30, 2024 | +5.8% | +5.4% |
| June 30, 2024 | +2.9% | +4.0% |
| March 31, 2024 | +9.8% | +10.0% |
| December 31, 2023 | +11.4% | +11.2% |
| September 30, 2023 | −3.5% | −3.6% |
| June 30, 2023 | +7.9% | +8.3% |
| March 31, 2023 | +6.8% | +7.0% |
| December 31, 2022 | +6.8% | +7.1% |
| September 30, 2022 | −5.0% | −5.3% |
| June 30, 2022 | −16.9% | −16.5% |
| March 31, 2022 | −5.5% | −4.9% |
| December 31, 2021 | +9.2% | +10.7% |
| September 30, 2021 | −0.3% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: State Board Of Administration Of Florida Retirement System Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=938076&type=13F-HR&dateb=&owner=include&count=40CIK 938076
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/938076/000093807626000007/Filed August 10, 2026 · accession 0000938076-26-000007