Employees Retirement System of Texas
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Employees Retirement System of Texas reported 507 stock positions worth $10.8 billion. Its top holding was Nvidia (NVDA) at 6.1% of the portfolio, followed by Apple (AAPL, 5.7%) and Microsoft (MSFT, 4.5%). Compared with Q1 2026, it opened 80 new positions, sold out of 63, added to 85 and reduced 101. The biggest buy was Micron Technology (MU, shares +465%) and the biggest sale iShares Gold Trust (IAU, shares −80%).
- Most Recent 13F
- Q2 2026
- Location
- AUSTIN, TX
- CIK
- 0001398739
- Portfolio Value
- $10.8B (Q2 2026)
- SEC Filing
- 0001398739-26-000009 ↗ filed Aug 14, 2026
Holdings Value
Holdings 507 stocks · $10.8B
| NVDA Nvidia Corp. | 6.09% | 3,271,822 | $654.7M | Reduce -7.5% |
| AAPL Apple Inc. | 5.70% | 2,116,984 | $612.6M | Add +3.5% |
| MSFT Microsoft Corp. | 4.48% | 1,290,234 | $481.3M | Reduce -6.2% |
| AMZN Amazon.com Inc. | 4.10% | 1,847,315 | $440.3M | Reduce -0.3% |
| GOOG Alphabet Inc. Class C | 3.54% | 1,076,258 | $380.3M | Add +22.4% |
| AVGO Broadcom Inc. | 2.78% | 790,055 | $298.4M | Reduce -6.7% |
| AMD Advanced Micro Devices | 1.97% | 365,075 | $212.1M | Reduce -1.6% |
| PANW Palo Alto Networks Inc. | 1.96% | 617,726 | $210.7M | Reduce -1.7% |
| META Meta Platforms Inc. Class A | 1.84% | 352,086 | $198.3M | Add +10.6% |
| GOOGL Alphabet Inc. Class A | 1.66% | 498,268 | $178.1M | Add +2.4% |
| VGK Vanguard Ftse Europe ETF | 1.64% | 1,997,090 | $176.8M | No change |
| LLY Eli Lilly & Co. | 1.59% | 142,500 | $170.9M | Reduce -17.6% |
| WDC Western Digital Corp. | 1.55% | 261,689 | $167.1M | Add +68.2% |
| JPM JPMorgan Chase & Co. | 1.54% | 504,900 | $165.3M | Reduce -1.7% |
| MA Mastercard Inc. Class A | 1.48% | 310,608 | $159.5M | Add +19.2% |
| XOM Exxon Mobil Corp. | 1.47% | 1,154,357 | $157.8M | Reduce -1.6% |
| V Visa Inc. Class A | 1.41% | 440,354 | $151.1M | Reduce -0.3% |
| TSLA Tesla Inc. | 1.34% | 343,313 | $144.4M | Reduce -2.4% |
| BAC Bank of America Corp. | 1.30% | 2,445,089 | $139.3M | Add +6.2% |
| MU Micron Technology Inc. | 1.24% | 115,273 | $133.1M | Add +464.9% |
| VEA Vanguard Ftse Developed ETF | 1.19% | 1,798,331 | $128.1M | No change |
| JNJ Johnson & Johnson | 1.16% | 490,900 | $124.7M | New |
| FCX Freeport-McMoran Inc. | 1.13% | 1,935,702 | $121.7M | Add +4.5% |
| CAT Caterpillar Inc. | 1.13% | 114,114 | $121.5M | Add +85.7% |
| AMAT Applied Materials Inc. | 1.10% | 164,101 | $118.6M | New |
| ABBV Abbvie Inc. | 1.05% | 448,200 | $112.8M | Reduce -1.7% |
| XBI SS SPDR S&P Biotech ETF | 1.00% | 676,872 | $107.1M | Reduce -1.7% |
| MS Morgan Stanley | 0.99% | 508,300 | $106.3M | Add +11.0% |
| ANET Arista Networks Inc. | 0.99% | 624,891 | $106.2M | Reduce -1.6% |
| UNH Unitedhealth Group Inc. | 0.98% | 253,319 | $105.3M | Add +2448.5% |
| HD Home Depot Inc. | 0.97% | 296,775 | $104.7M | Reduce -17.0% |
| WMT Walmart Inc. | 0.96% | 912,700 | $103.4M | Reduce -14.4% |
| PM Philip Morris International | 0.95% | 566,479 | $102.5M | Add +1169.5% |
| CDNS Cadence Design SYS Inc. | 0.91% | 261,857 | $98.3M | Reduce -16.8% |
| SCHW Schwab (charles) Corp. | 0.91% | 1,059,367 | $97.7M | Reduce -1.6% |
| NEM Newmont Corp. | 0.89% | 1,028,934 | $96.1M | Reduce -7.8% |
| COST Costco Wholesale Corp. | 0.88% | 100,933 | $94.4M | Reduce -13.6% |
| PH Parker Hannifin Corp. | 0.86% | 94,986 | $92.9M | Reduce -24.9% |
| AME Ametek Inc. | 0.85% | 379,304 | $91.8M | Add +11.4% |
| FAST Fastenal Co. | 0.84% | 1,880,754 | $90.3M | Add +16.1% |
| FITB Fifth Third Bancorp | 0.84% | 1,600,100 | $90.2M | Reduce -1.7% |
| KO The Coca-Cola Co. | 0.82% | 1,081,300 | $87.9M | Reduce -16.8% |
| ALLY Ally Financial Inc. | 0.78% | 1,824,746 | $83.8M | Reduce -1.7% |
| TMO Thermo Fisher Scientific Inc. | 0.75% | 161,033 | $80.7M | Reduce -1.6% |
| ISRG Intuitive Surgical Inc. | 0.75% | 202,332 | $80.5M | Add +15.5% |
| NXPI NXP Semiconductors NV | 0.74% | 283,762 | $79.7M | Reduce -1.7% |
| ETR Entergy Corp. | 0.71% | 659,975 | $75.8M | Reduce -1.7% |
| ETN Eaton Corp. PLC | 0.68% | 172,333 | $73.4M | Reduce -1.6% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.68% | 481,988 | $73.0M | Reduce -2.6% |
| EQIX Equinix Inc. | 0.68% | 70,050 | $73.0M | Reduce -6.0% |
| TT Trane Technologies PLC | 0.68% | 148,289 | $72.8M | Reduce -3.3% |
| WEC WEC Energy Group Inc. | 0.67% | 615,533 | $71.9M | Reduce -1.7% |
| MSI Motorola Solutions Inc. | 0.65% | 168,624 | $70.0M | Reduce -22.9% |
| AXP American Express Co. | 0.65% | 206,108 | $69.7M | Add +12.1% |
| DAL Delta Air Lines Inc. | 0.62% | 714,148 | $66.9M | New |
| CCL Carnival Corp. Ltd. | 0.60% | 2,261,500 | $64.6M | Reduce -1.7% |
| MNST Monster Beverage Corp. | 0.60% | 667,849 | $64.2M | Reduce -1.6% |
| VRT Vertiv Holdings Co. Class A | 0.59% | 190,982 | $63.9M | Reduce -3.6% |
| SLB SLB Ltd. filed as SLB LIMITED | 0.59% | 1,360,570 | $63.3M | Add +11.0% |
| H Hyatt Hotels Corp. Class A | 0.58% | 319,400 | $61.9M | New |
| HIG Hartford Insurance Group Inc. | 0.57% | 462,707 | $61.3M | Reduce -1.7% |
| SYK Stryker Corp. | 0.57% | 193,102 | $60.8M | Reduce -1.4% |
| MDT Medtronic PLC | 0.57% | 776,505 | $60.7M | Reduce -0.5% |
| TMUS T-Mobile US Inc. | 0.56% | 358,712 | $60.2M | Add +0.7% |
| VTR Ventas Inc. | 0.55% | 663,205 | $58.9M | Reduce -20.3% |
| PLD Prologis Inc. | 0.54% | 431,267 | $58.4M | Reduce -1.7% |
| ODFL Old Dominion Freight Line | 0.54% | 265,931 | $57.6M | Reduce -27.5% |
| NOW ServiceNow Inc. | 0.54% | 579,631 | $57.5M | Reduce -1.6% |
| ET Energy Transfer LP | 0.53% | 2,966,911 | $56.7M | Reduce -11.4% |
| ICE Intercontinental Exchange Inc. | 0.52% | 451,303 | $55.6M | Reduce -1.6% |
| EWJ iShares MSCI Japan ETF | 0.51% | 592,400 | $55.3M | No change |
| TDG Transdigm Group Inc. | 0.47% | 37,987 | $50.6M | Reduce -1.6% |
| IAU iShares Gold Trust | 0.47% | 663,500 | $50.1M | Reduce -79.8% |
| WM Waste Management Inc. | 0.44% | 213,839 | $47.7M | Reduce -15.7% |
| LNG Cheniere Energy Inc. | 0.44% | 196,240 | $46.9M | Reduce -0.5% |
| INTC Intel Corp. | 0.41% | 316,752 | $44.2M | New |
| PSA Public Storage | 0.40% | 136,358 | $43.4M | Reduce -1.7% |
| APH Amphenol Corp. Class A | 0.37% | 223,954 | $39.5M | No change |
| NI Nisource Inc. | 0.36% | 819,029 | $38.9M | Reduce -1.7% |
| BA The Boeing Co. | 0.36% | 176,701 | $38.3M | Reduce -1.6% |
| DXCM Dexcom Inc. | 0.34% | 538,893 | $36.3M | Reduce -1.6% |
| LRCX Lam Research Corp. | 0.30% | 75,560 | $32.7M | No change |
| ASML ASML Holding NV-NY Reg SHS filed as ASML HLDG NV | 0.25% | 13,761 | $27.4M | Reduce -5.3% |
| SBUX Starbucks Corp. | 0.24% | 250,000 | $25.5M | New |
| SNDK Sandisk Corp. | 0.22% | 10,494 | $23.9M | Reduce -48.3% |
| LIN Linde PLC | 0.19% | 39,001 | $20.2M | Add +61.9% |
| CB Chubb Ltd. | 0.17% | 54,013 | $18.4M | Add +1221.6% |
| ADBE Adobe Inc. | 0.17% | 89,675 | $18.4M | No change |
| EW Edwards Lifesciences Corp. | 0.17% | 199,455 | $18.0M | Add +87.8% |
| TSM Taiwan Semiconductor-SP ADR | 0.16% | 35,250 | $16.8M | No change |
| FTNT Fortinet Inc. | 0.14% | 96,877 | $14.9M | Reduce -21.5% |
| PGR Progressive Corp. | 0.14% | 66,864 | $14.6M | Add +296.0% |
| EMXC iShares MSCI Emr MRK Ex Chna | 0.13% | 137,000 | $14.0M | No change |
| SPCX Space Exploration Techn Class A | 0.13% | 81,648 | $13.9M | New |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.13% | 141,674 | $13.6M | Reduce -5.9% |
| BDX Becton Dickinson and Co. | 0.11% | 77,752 | $11.8M | Add +3437.4% |
| NOK Nokia Corp.-Spon ADR | 0.10% | 828,742 | $11.0M | No change |
| LVS Las Vegas Sands Corp. | 0.10% | 238,097 | $11.0M | No change |
| CMCSA Comcast Corp. Class A | 0.10% | 435,880 | $10.7M | Add +1012.4% |
| BKNG Booking Holdings Inc. | 0.09% | 56,525 | $10.1M | No change |
Other holdings (4): bonds, preferreds, convertibles and warrants · $1.8B (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| VGIT Vanguard Intermediate-Term T | INTER TERM TREAS · principal | 23,386,000 | $1.4B | No change |
| HYLB Xtrackers Usd High Yield Cor | XTRACK USD HIGH · principal | 11,372,000 | $415.3M | No change |
| PAAA Pgim Aaa Clo ETF | AAA CLO ETF · principal | 750,000 | $38.5M | Reduce -25.0% |
| CONMED CORP (CNMD 2.25 06/15/27) | NOTE 2.250% 6/1 · principal | 6,000,000 | $5.9M | No change |
Total filed on the 13F, all lines: $12.6B.
Portfolio Sells Q1 2026 → Q2 2026
| IAU iShares Gold Trust | Reduce -79.8% | 0.47% | −2.57 |
| NFLX Netflix Inc. | Reduce -97.2% | 0.02% | −1.08 |
| MSFT Microsoft Corp. | Reduce -6.2% | 4.48% | −0.84 |
| DHR Danaher Corp. | Reduce -91.1% | 0.06% | −0.72 |
| XOM Exxon Mobil Corp. | Reduce -1.6% | 1.47% | −0.61 |
| PPH Vaneck Pharmaceutical ETF | Sold out | 0.00% | −0.58 |
| SPOT Spotify Technology SA | Sold out | 0.00% | −0.58 |
| XRT SS SPDR S&P Retail ETF | Sold out | 0.00% | −0.44 |
| WMT Walmart Inc. | Reduce -14.4% | 0.96% | −0.42 |
| WSO Watsco Inc. | Reduce -94.7% | 0.02% | −0.39 |
| BSX Boston Scientific Corp. | Reduce -77.8% | 0.06% | −0.38 |
| XLI SS Industrial Select Sector | Sold out | 0.00% | −0.37 |
| NEM Newmont Corp. | Reduce -7.8% | 0.89% | −0.37 |
| NVDA Nvidia Corp. | Reduce -7.5% | 6.09% | −0.35 |
| AJG Arthur J Gallagher & Co. | Reduce -93.7% | 0.02% | −0.35 |
| MSI Motorola Solutions Inc. | Reduce -22.9% | 0.65% | −0.34 |
| COST Costco Wholesale Corp. | Reduce -13.6% | 0.88% | −0.34 |
| PH Parker Hannifin Corp. | Reduce -24.9% | 0.86% | −0.32 |
| TOST Toast Inc. Class A | Reduce -99.5% | 0.00% | −0.29 |
| HD Home Depot Inc. | Reduce -17.0% | 0.97% | −0.25 |
| ICE Intercontinental Exchange Inc. | Reduce -1.6% | 0.52% | −0.24 |
| KO The Coca-Cola Co. | Reduce -16.8% | 0.82% | −0.21 |
| ODFL Old Dominion Freight Line | Reduce -27.5% | 0.54% | −0.21 |
| WM Waste Management Inc. | Reduce -15.7% | 0.44% | −0.17 |
| VTR Ventas Inc. | Reduce -20.3% | 0.55% | −0.16 |
| LNG Cheniere Energy Inc. | Reduce -0.5% | 0.44% | −0.15 |
| SCHW Schwab (charles) Corp. | Reduce -1.6% | 0.91% | −0.15 |
| ET Energy Transfer LP | Reduce -11.4% | 0.53% | −0.15 |
| TJX TJX Companies Inc. | Reduce -2.6% | 0.68% | −0.15 |
| MDT Medtronic PLC | Reduce -0.5% | 0.57% | −0.14 |
| CVX Chevron Corp. | Sold out | 0.00% | −0.12 |
| WPM Wheaton Precious Metals Corp. | Sold out | 0.00% | −0.11 |
| NOW ServiceNow Inc. | Reduce -1.6% | 0.54% | −0.11 |
| SYK Stryker Corp. | Reduce -1.4% | 0.57% | −0.11 |
| HIG Hartford Insurance Group Inc. | Reduce -1.7% | 0.57% | −0.09 |
| TMO Thermo Fisher Scientific Inc. | Reduce -1.6% | 0.75% | −0.09 |
| WEC WEC Energy Group Inc. | Reduce -1.7% | 0.67% | −0.09 |
| BMY Bristol-Myers Squibb Co. | Reduce -76.9% | 0.02% | −0.09 |
| EQIX Equinix Inc. | Reduce -6.0% | 0.68% | −0.08 |
| ETR Entergy Corp. | Reduce -1.7% | 0.71% | −0.08 |
| RIO Rio Tinto PLC-Spon ADR | Sold out | 0.00% | −0.08 |
| LLY Eli Lilly & Co. | Reduce -17.6% | 1.59% | −0.07 |
| PLD Prologis Inc. | Reduce -1.7% | 0.54% | −0.06 |
| UPS United Parcel Service Class B | Reduce -90.4% | 0.01% | −0.06 |
| AEM Agnico Eagle Mines Ltd. | Reduce -99.1% | 0.00% | −0.05 |
| PR Permian Resources Corp. Class A | Sold out | 0.00% | −0.05 |
| NI Nisource Inc. | Reduce -1.7% | 0.36% | −0.04 |
| JPM JPMorgan Chase & Co. | Reduce -1.7% | 1.54% | −0.04 |
| GLW Corning Inc. | Sold out | 0.00% | −0.03 |
| TEL Te Connectivity PLC | Reduce -26.2% | 0.06% | −0.03 |
Portfolio Buys Q1 2026 → Q2 2026
| MU Micron Technology Inc. | Add +464.9% | 1.24% | +1.17 |
| JNJ Johnson & Johnson | New | 1.16% | +1.16 |
| WDC Western Digital Corp. | Add +68.2% | 1.55% | +1.12 |
| AMAT Applied Materials Inc. | New | 1.10% | +1.10 |
| UNH Unitedhealth Group Inc. | Add +2448.5% | 0.98% | +0.95 |
| GOOG Alphabet Inc. Class C | Add +22.4% | 3.54% | +0.90 |
| PM Philip Morris International | Add +1169.5% | 0.95% | +0.88 |
| CAT Caterpillar Inc. | Add +85.7% | 1.13% | +0.68 |
| DAL Delta Air Lines Inc. | New | 0.62% | +0.62 |
| H Hyatt Hotels Corp. Class A | New | 0.58% | +0.58 |
| INTC Intel Corp. | New | 0.41% | +0.41 |
| AAPL Apple Inc. | Add +3.5% | 5.70% | +0.28 |
| SBUX Starbucks Corp. | New | 0.24% | +0.24 |
| MS Morgan Stanley | Add +11.0% | 0.99% | +0.20 |
| GOOGL Alphabet Inc. Class A | Add +2.4% | 1.66% | +0.20 |
| CB Chubb Ltd. | Add +1221.6% | 0.17% | +0.16 |
| SPCX Space Exploration Techn Class A | New | 0.13% | +0.13 |
| MA Mastercard Inc. Class A | Add +19.2% | 1.48% | +0.12 |
| BAC Bank of America Corp. | Add +6.2% | 1.30% | +0.12 |
| BDX Becton Dickinson and Co. | Add +3437.4% | 0.11% | +0.11 |
| PGR Progressive Corp. | Add +296.0% | 0.14% | +0.10 |
| AME Ametek Inc. | Add +11.4% | 0.85% | +0.09 |
| CMCSA Comcast Corp. Class A | Add +1012.4% | 0.10% | +0.09 |
| EW Edwards Lifesciences Corp. | Add +87.8% | 0.17% | +0.08 |
| HCA HCA Healthcare Inc. | Add +1124.7% | 0.08% | +0.08 |
| STX Seagate Technology Holdings | Add +298.4% | 0.08% | +0.07 |
| AXP American Express Co. | Add +12.1% | 0.65% | +0.07 |
| LIN Linde PLC | Add +61.9% | 0.19% | +0.06 |
| SHEL Shell PLC-ADR | New | 0.06% | +0.06 |
| FAST Fastenal Co. | Add +16.1% | 0.84% | +0.06 |
| XYL Xylem Inc. | New | 0.05% | +0.05 |
| CSCO Cisco Systems Inc. | Add +65.9% | 0.09% | +0.05 |
| AZO AutoZone Inc. | Add +870.6% | 0.05% | +0.04 |
| CAH Cardinal Health Inc. | New | 0.04% | +0.04 |
| GDDY GoDaddy Inc. Class A | Add +3272.3% | 0.04% | +0.04 |
| PLTR Palantir Technologies Inc. Class A | Add +166.8% | 0.07% | +0.03 |
| WRB WR Berkley Corp. | Add +2203.5% | 0.04% | +0.03 |
| AIG American International Group | New | 0.03% | +0.03 |
| AMH American Homes 4 Rent- A | Add +1450.5% | 0.04% | +0.03 |
| NOC Northrop Grumman Corp. | New | 0.03% | +0.03 |
| WFC Wells Fargo & Co. | New | 0.03% | +0.03 |
| CTAS Cintas Corp. | Add +400.7% | 0.03% | +0.03 |
| NTAP Netapp Inc. | Add +831.5% | 0.03% | +0.03 |
| AON Aon PLC Class A | Add +369.4% | 0.03% | +0.02 |
| GGB Gerdau SA -Spon ADR | New | 0.02% | +0.02 |
| PCG P G & E Corp. | Add +365.2% | 0.03% | +0.02 |
| COKE Coca-Cola Consolidated Inc. | Add +2618.6% | 0.02% | +0.02 |
| DRI Darden Restaurants Inc. | Add +756.5% | 0.03% | +0.02 |
| ES Eversource Energy | New | 0.02% | +0.02 |
| FMX Fomento Economico Mex-SP ADR | Add +144.6% | 0.03% | +0.02 |
Notes & Other Activity Q1 2026 → Q2 2026
| PAAA Pgim Aaa Clo ETF | AAA CLO ETF · principal | Reduce -25.0% | 750,000 | $38.5M |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 507 | $10.8B | NVDA, AAPL, MSFT, AMZN, GOOG |
| Q1 2026 | 489 | $9.6B | NVDA, AAPL, MSFT, AMZN, IAU |
| Q4 2025 | 492 | $10.5B | MSFT, NVDA, AAPL, AMZN, GOOG |
| Q3 2025 | 503 | $10.6B | NVDA, MSFT, AAPL, AMZN, VEA |
| Q2 2025 | 519 | $10.4B | MSFT, NVDA, AAPL, AMZN, VEA |
| Q1 2025 | 259 | $9.1B | MSFT, RSP, AAPL, NVDA, AMZN |
| Q4 2024Amended | 305 | $10.0B | NVDA, AAPL, MSFT, AMZN, RSP |
| Q3 2024 | 329 | $9.8B | NVDA, AAPL, MSFT, RSP, AMZN |
| Q2 2024 | 310 | $9.1B | NVDA, AAPL, MSFT, AMZN, GOOG |
| Q1 2024 | 322 | $9.1B | VOO, MSFT, NVDA, AAPL, AMZN |