1y return+16.7%S&P 500 +20.9%
3y return+61.3%S&P 500 +68.5%
5y return+61.3%S&P 500 +74.5%
10y return+227.9%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: $328 against $357 in the S&P 500.2
Utah Retirement SystemsS&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 | $708.7M | 6.7% | −6.9% |
| AAPLApple Inc | $635.2M | 6.0% | −6.3% |
| MSFTMicrosoft Corp | $420.8M | 4.0% | −6.5% |
| AMZNAmazon Com Inc | $351.0M | 3.3% | −5.6% |
| GOOGLAlphabet Inc | $316.2M | 3.0% | −6.4% |
| AVGOBroadcom Inc | $266.8M | 2.5% | −5.9% |
| GOOGAlphabet Inc | $255.1M | 2.4% | −6.2% |
| MUMicron Technology Inc | $197.6M | 1.9% | −5.8% |
| METAMeta Platforms Inc | $188.0M | 1.8% | −6.0% |
| TSLATesla Inc | $186.6M | 1.8% | −3.3% |
| LLYEli Lilly & Co | $145.4M | 1.4% | −6.9% |
| AMDAdvanced Micro Devices Inc | $143.5M | 1.4% | −5.7% |
| JPMJpmorgan Chase & Co | $132.9M | 1.3% | −8.1% |
| BRK/BBerkshire Hathaway Inc Del | $117.0M | 1.1% | −2.7% |
| INTCIntel Corp | $93.0M | 0.9% | −7.4% |
| JNJJohnson & Johnson | $92.9M | 0.9% | −6.5% |
| AMATApplied Matls Inc | $87.0M | 0.8% | −6.7% |
| Exxon Mobil CorpCUSIP 30231G102 | $86.4M | 0.8% | −8.0% |
| VVisa Inc | $86.0M | 0.8% | −8.4% |
| LRCXLam Research Corp | $82.2M | 0.8% | −7.0% |
| WMTWalmart Inc | $75.5M | 0.7% | −5.8% |
| CATCaterpillar Inc | $73.4M | 0.7% | −8.4% |
| CSCOCisco Sys Inc | $70.5M | 0.7% | −7.3% |
| ABBVAbbvie Inc | $67.6M | 0.6% | −6.7% |
| COSTCostco Wholesale Corporation | $63.0M | 0.6% | −6.6% |
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% | $708.7M |
| AVGOBroadcom Inc | June 30, 2020 | +1096.9% | $266.8M |
| AMATApplied Matls Inc | June 30, 2020 | +1096.1% | $87.0M |
| AMDAdvanced Micro Devices Inc | June 30, 2020 | +1004.1% | $143.5M |
| CATCaterpillar Inc | June 30, 2020 | +741.8% | $73.4M |
| LLYEli Lilly & Co | June 30, 2020 | +630.6% | $145.4M |
| GEVGe Vernova Inc | June 30, 2024 | +585.0% | $48.0M |
| LRCXLam Research Corp | December 31, 2024 | +499.9% | $82.2M |
| GSGoldman Sachs Group Inc | June 30, 2020 | +411.8% | $44.3M |
| GOOGLAlphabet Inc | June 30, 2020 | +404.0% | $316.2M |
Sold off last quarter
- Honeywell Intl IncCUSIP 438516106 was $23.4M
- Carnival CorpCUSIP 143658300 was $4.8M
- CTRACoterra Energy Inc was $4.3M
- RYTMRhythm Pharmaceuticals Inc was $3.7M
- Dupont De Nemours IncCUSIP 26614N102 was $3.1M
- Hologic IncCUSIP 436440101 was $2.7M
- Thomson Reuters CorpCUSIP 884903808 was $1.4M
- OMDAOmada Health Inc was $985K
- On24 IncCUSIP 68339B104 was $798K
- Masimo CorpCUSIP 574795100 was $424K
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +11.4% | +14.8% |
| March 31, 2026 | −4.5% | −4.6% |
| December 31, 2025 | +2.0% | +2.4% |
| September 30, 2025 | +7.5% | +7.8% |
| June 30, 2025 | +10.7% | +10.5% |
| March 31, 2025 | −4.5% | −4.6% |
| December 31, 2024 | +2.2% | +2.1% |
| September 30, 2024 | +5.8% | +5.4% |
| June 30, 2024 | +3.1% | +4.0% |
| March 31, 2024 | +9.5% | +10.0% |
| December 31, 2023 | +11.3% | +11.2% |
| September 30, 2023 | −3.6% | −3.6% |
| June 30, 2023 | +7.9% | +8.3% |
| March 31, 2023 | +7.0% | +7.0% |
| December 31, 2022 | +6.6% | +7.1% |
| September 30, 2022 | −5.0% | −5.3% |
| June 30, 2022 | −17.0% | −16.5% |
| March 31, 2022 | −5.6% | −4.9% |
| December 31, 2021 | +9.4% | +10.7% |
| September 30, 2021 | −0.1% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Utah Retirement Systems Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1548392&type=13F-HR&dateb=&owner=include&count=40CIK 1548392
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1548392/000154839226000005/Filed August 14, 2026 · accession 0001548392-26-000005