1y return+18.6%S&P 500 +20.9%
3y return+55.0%S&P 500 +68.5%
5y return+53.3%S&P 500 +74.5%
10y return+156.5%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: $257 against $357 in the S&P 500.2
State of Alaska, Department of RevenueS&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 | $545K | 5.4% | −3.1% |
| AAPLApple Inc | $520K | 5.2% | −3.3% |
| MSFTMicrosoft Corp | $340K | 3.4% | −3.2% |
| AMZNAmazon Com Inc | $269K | 2.7% | −2.6% |
| GOOGLAlphabet Inc | $235K | 2.3% | −2.2% |
| GOOGAlphabet Inc | $229K | 2.3% | −3.5% |
| AVGOBroadcom Inc | $210K | 2.1% | |
| MUMicron Technology Inc | $186K | 1.9% | −5.9% |
| METAMeta Platforms Inc | $153K | 1.5% | −3.1% |
| TSLATesla Inc | $134K | 1.3% | −2.6% |
| AMDAdvanced Micro Devices Inc | $120K | 1.2% | −3.8% |
| BRK/BBerkshire Hathaway Inc Del | $113K | 1.1% | −3.8% |
| LLYEli Lilly & Co | $109K | 1.1% | −3.2% |
| WELLWelltower Inc | $96K | 1.0% | +1.1% |
| JPMJpmorgan Chase & Co | $91K | 0.9% | +4.1% |
| INTCIntel Corp | $82K | 0.8% | |
| JNJJohnson & Johnson | $76K | 0.8% | −4.0% |
| PLDPrologis Inc. | $75K | 0.7% | |
| Exxon Mobil CorpCUSIP 30231G102 | $69K | 0.7% | −3.5% |
| AMATApplied Matls Inc | $63K | 0.6% | −1.7% |
| EQIXEquinix Inc | $61K | 0.6% | |
| CSCOCisco Sys Inc | $59K | 0.6% | −3.4% |
| ABBVAbbvie Inc | $59K | 0.6% | −4.1% |
| VVisa Inc | $57K | 0.6% | |
| WMTWalmart Inc | $55K | 0.5% | −3.8% |
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% | $545K |
| WDCWestern Digital Corp | June 30, 2020 | +1346.7% | $39K |
| AVGOBroadcom Inc | June 30, 2020 | +1096.9% | $210K |
| AMATApplied Matls Inc | June 30, 2020 | +1096.1% | $63K |
| AMDAdvanced Micro Devices Inc | June 30, 2020 | +1004.1% | $120K |
| CATCaterpillar Inc | June 30, 2020 | +741.8% | $48K |
| LLYEli Lilly & Co | June 30, 2020 | +630.6% | $109K |
| LRCXLam Research Corp | December 31, 2024 | +499.9% | $53K |
| GEGe Aerospace | June 30, 2022 | +486.9% | $38K |
| GOOGLAlphabet Inc | June 30, 2020 | +404.0% | $235K |
Sold off last quarter
- Honeywell Intl IncCUSIP 438516106 was $15K
- Hologic IncCUSIP 436440101 was $12K
- Air Lease CorpCUSIP 00912X302 was $3,375
- Sealed Air Corp NewCUSIP 81211K100 was $3,321
- Carnival CorpCUSIP 143658300 was $2,939
- CTRACoterra Energy Inc was $2,619
- Tri Pointe Homes IncCUSIP 87265H109 was $2,191
- Apellis Pharmaceuticals IncCUSIP 03753U106 was $2,034
- Dupont De Nemours IncCUSIP 26614N102 was $1,885
- Veris Residential IncCUSIP 554489104 was $1,596
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +12.0% | +14.8% |
| March 31, 2026 | −2.9% | −4.6% |
| December 31, 2025 | +1.7% | +2.4% |
| September 30, 2025 | +7.2% | +7.8% |
| June 30, 2025 | +8.2% | +10.5% |
| March 31, 2025 | −4.4% | −4.6% |
| December 31, 2024 | +0.7% | +2.1% |
| September 30, 2024 | +6.7% | +5.4% |
| June 30, 2024 | +1.6% | +4.0% |
| March 31, 2024 | +8.2% | +10.0% |
| December 31, 2023 | +11.4% | +11.2% |
| September 30, 2023 | −3.9% | −3.6% |
| June 30, 2023 | +6.3% | +8.3% |
| March 31, 2023 | +5.7% | +7.0% |
| December 31, 2022 | +7.3% | +7.1% |
| September 30, 2022 | −5.7% | −5.3% |
| June 30, 2022 | −15.8% | −16.5% |
| March 31, 2022 | −5.4% | −4.9% |
| December 31, 2021 | +9.9% | +10.7% |
| September 30, 2021 | −0.6% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: State of Alaska, Department of Revenue Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1370102&type=13F-HR&dateb=&owner=include&count=40CIK 1370102
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1370102/000137010226000007/Filed July 20, 2026 · accession 0001370102-26-000007