Louisiana State Employees Retirement System
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 22, 2025), Louisiana State Employees Retirement System reported 1,516 stock positions worth $6.0 billion. Its top holding was Nvidia (NVDA) at 6.3% of the portfolio, followed by Microsoft (MSFT, 5.3%) and Apple (AAPL, 5.2%). Compared with Q2 2025, it opened 22 new positions, sold out of 24, added to 262 and reduced 1,099. The biggest buy was AppLovin Class A (APP, shares +63%) and the biggest sale Netflix (NFLX, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- BATON ROUGE, LA
- CIK
- 0001537191
- Portfolio Value
- $6.0B (Q3 2025)
- SEC Filing
- 0001537191-25-000007 ↗ filed Oct 22, 2025
Holdings Value
Holdings 1,516 stocks · $6.0B
| NVDA Nvidia Corp. | 6.26% | 2,000,600 | $373.3M | Reduce -0.6% |
| MSFT Microsoft Corp. | 5.30% | 610,300 | $316.1M | Reduce -0.5% |
| AAPL Apple Inc. | 5.21% | 1,218,600 | $310.3M | Reduce -1.1% |
| AMZN Amazon.com Inc. | 3.04% | 825,400 | $181.2M | Add +1.4% |
| AVGO Broadcom Inc. | 2.64% | 477,400 | $157.5M | Reduce -0.4% |
| META Meta Platforms Inc. Class A | 2.19% | 178,100 | $130.8M | Reduce -0.6% |
| GOOGL Alphabet Inc. Class A | 1.95% | 477,600 | $116.1M | Reduce -0.5% |
| TSLA Tesla Inc. | 1.90% | 255,200 | $113.5M | Reduce -0.3% |
| GOOG Alphabet Inc. Class C | 1.66% | 406,000 | $98.9M | Reduce -1.0% |
| NFLX Netflix Inc. | 1.07% | 53,300 | $63.9M | Reduce -0.6% |
| PLTR Palantir Technologies Inc. Class A | 0.87% | 285,200 | $52.0M | Add +2.7% |
| COST Costco Wholesale Corp. | 0.86% | 55,600 | $51.5M | Reduce -0.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.81% | 96,200 | $48.4M | Reduce -0.6% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.77% | 584,900 | $45.8M | Add +9.7% |
| JPM JPMorgan Chase & Co. | 0.76% | 144,300 | $45.5M | Reduce -1.6% |
| CSCO Cisco Systems Inc. | 0.57% | 496,600 | $34.0M | Reduce -0.6% |
| AMD Advanced Micro Devices | 0.55% | 203,600 | $32.9M | Reduce -0.2% |
| LLY Eli Lilly & Co. | 0.53% | 41,700 | $31.8M | Add +0.5% |
| V Visa Inc. Class A | 0.51% | 89,100 | $30.4M | Reduce -1.3% |
| LIN Linde PLC | 0.47% | 58,800 | $27.9M | Reduce -0.7% |
| APP AppLovin Corp. Class A | 0.44% | 36,600 | $26.3M | Add +62.7% |
| TMUS T-Mobile US Inc. | 0.43% | 107,500 | $25.7M | Reduce -0.7% |
| XOM Exxon Mobil Corp. | 0.42% | 223,700 | $25.2M | Reduce -1.6% |
| MA Mastercard Inc. Class A | 0.41% | 43,300 | $24.6M | Add +1.2% |
| ORCL Oracle Corp. | 0.41% | 87,000 | $24.5M | Add +1.4% |
| PEP Pepsico Inc. | 0.40% | 171,600 | $24.1M | Reduce -0.6% |
| INTU Intuit Inc. | 0.40% | 34,900 | $23.8M | Reduce -0.8% |
| WMT Walmart Inc. | 0.40% | 230,300 | $23.7M | Add +1.0% |
| MU Micron Technology Inc. | 0.39% | 140,300 | $23.5M | Reduce -0.3% |
| JNJ Johnson & Johnson | 0.39% | 126,400 | $23.4M | Reduce -0.4% |
| QCOM Qualcomm Inc. | 0.38% | 135,300 | $22.5M | Reduce -2.1% |
| BKNG Booking Holdings Inc. | 0.37% | 4,100 | $22.1M | No change |
| ABBV Abbvie Inc. | 0.36% | 92,700 | $21.5M | Reduce -0.5% |
| LRCX Lam Research Corp. | 0.36% | 158,700 | $21.2M | Reduce -1.4% |
| HD Home Depot Inc. | 0.35% | 52,200 | $21.2M | Reduce -0.4% |
| TXN Texas Instruments Inc. | 0.35% | 114,000 | $20.9M | Reduce -0.3% |
| AMAT Applied Materials Inc. | 0.34% | 100,200 | $20.5M | Reduce -1.4% |
| ISRG Intuitive Surgical Inc. | 0.34% | 44,900 | $20.1M | Reduce -0.4% |
| AMGN Amgen Inc. | 0.32% | 67,500 | $19.0M | Reduce -0.3% |
| PG The Procter & Gamble Co. | 0.32% | 122,900 | $18.9M | Reduce -0.7% |
| ADBE Adobe Inc. | 0.31% | 53,200 | $18.8M | Reduce -0.9% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.31% | 357,600 | $18.4M | Add +3.4% |
| INTC Intel Corp. | 0.31% | 548,900 | $18.4M | Reduce -0.0% |
| KLAC KLA Corp. | 0.30% | 16,500 | $17.8M | Reduce -1.2% |
| GILD Gilead Sciences Inc. | 0.29% | 155,600 | $17.3M | Reduce -0.6% |
| PANW Palo Alto Networks Inc. | 0.29% | 83,800 | $17.1M | Add +0.1% |
| HON Honeywell International Inc. | 0.28% | 79,600 | $16.8M | Reduce -1.6% |
| GE General Electric filed as GE AEROSPACE | 0.28% | 55,600 | $16.7M | Reduce -1.2% |
| UNH Unitedhealth Group Inc. | 0.28% | 47,500 | $16.4M | Reduce -0.8% |
| CVX Chevron Corp. | 0.26% | 100,965 | $15.7M | Add +17.8% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.26% | 31,400 | $15.4M | Add +0.3% |
| ADI Analog Devices Inc. | 0.26% | 61,900 | $15.2M | Reduce -1.0% |
| ADP Automatic Data Processing | 0.25% | 50,800 | $14.9M | Reduce -0.6% |
| CMCSA Comcast Corp. Class A | 0.24% | 461,800 | $14.5M | Reduce -1.5% |
| WFC Wells Fargo & Co. | 0.24% | 168,100 | $14.1M | Reduce -2.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.23% | 48,900 | $13.8M | Reduce -0.2% |
| KO The Coca-Cola Co. | 0.23% | 203,200 | $13.5M | Reduce -0.6% |
| PM Philip Morris International | 0.22% | 81,700 | $13.3M | Reduce -0.5% |
| DASH DoorDash Inc. Class A | 0.22% | 48,700 | $13.2M | Add +3.0% |
| SHOP Shopify Inc. Class A | 0.22% | 89,000 | $13.2M | Reduce -0.1% |
| CEG Constellation Energy | 0.22% | 39,200 | $12.9M | Reduce -0.5% |
| GS Goldman Sachs Group Inc. | 0.21% | 15,900 | $12.7M | Reduce -1.9% |
| VRTX Vertex Pharmaceuticals Inc. | 0.21% | 32,200 | $12.6M | Reduce -0.3% |
| ABT Abbott Laboratories | 0.21% | 91,300 | $12.2M | Reduce -0.5% |
| SBUX Starbucks Corp. | 0.20% | 142,500 | $12.1M | Reduce -0.4% |
| CDNS Cadence Design SYS Inc. | 0.20% | 34,200 | $12.0M | Reduce -0.6% |
| CRM Salesforce Inc. | 0.20% | 50,200 | $11.9M | Reduce -0.8% |
| RTX RTX Corp. | 0.20% | 70,200 | $11.7M | Reduce -0.4% |
| CAT Caterpillar Inc. | 0.20% | 24,600 | $11.7M | Reduce -0.8% |
| ORLY O'reilly Automotive Inc. | 0.19% | 106,400 | $11.5M | Reduce -1.1% |
| SNPS Synopsys Inc. | 0.19% | 23,138 | $11.4M | Add +18.7% |
| MCD McDonald's Corp. | 0.19% | 37,400 | $11.4M | Reduce -0.8% |
| MRK Merck & Co. Inc. | 0.18% | 131,100 | $11.0M | Reduce -1.1% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.18% | 94,300 | $10.8M | Reduce -0.6% |
| UBER Uber Technologies Inc. | 0.18% | 109,400 | $10.7M | Reduce -0.8% |
| QQQ Invesco QQQ Trust Series 1 | 0.18% | 17,700 | $10.6M | Add +29.2% |
| T AT&T Inc. | 0.18% | 375,200 | $10.6M | Reduce -1.2% |
| MDLZ Mondelez International Inc. Class A | 0.17% | 162,300 | $10.1M | Reduce -0.4% |
| MS Morgan Stanley | 0.17% | 63,700 | $10.1M | Reduce -2.3% |
| NOW ServiceNow Inc. | 0.17% | 10,900 | $10.0M | No change |
| C Citigroup Inc. | 0.16% | 96,600 | $9.8M | Reduce -1.9% |
| CTAS Cintas Corp. | 0.16% | 47,400 | $9.7M | Reduce -0.4% |
| VZ Verizon Communications Inc. | 0.16% | 221,200 | $9.7M | Reduce -0.5% |
| TMO Thermo Fisher Scientific Inc. | 0.16% | 19,800 | $9.6M | Reduce -0.5% |
| AXP American Express Co. | 0.16% | 28,500 | $9.5M | Reduce -2.4% |
| BLK BlackRock Inc. | 0.15% | 7,600 | $8.9M | Reduce -1.3% |
| GEV GE Vernova Inc. | 0.15% | 14,300 | $8.8M | Reduce -0.7% |
| MELI MercadoLibre Inc. | 0.15% | 3,700 | $8.6M | No change |
| BA The Boeing Co. | 0.14% | 39,700 | $8.6M | Reduce -0.3% |
| SCHW Schwab (charles) Corp. | 0.14% | 89,500 | $8.5M | Reduce -0.7% |
| ADSK Autodesk Inc. | 0.14% | 26,800 | $8.5M | Reduce -0.7% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.14% | 58,500 | $8.5M | Reduce -0.7% |
| CSX CSX Corp. | 0.14% | 233,800 | $8.3M | Reduce -1.1% |
| MAR Marriott International Class A | 0.14% | 31,600 | $8.2M | Reduce -1.3% |
| NEE Nextera Energy Inc. | 0.14% | 108,100 | $8.2M | Reduce -0.5% |
| FIX Comfort Systems USA Inc. | 0.14% | 9,800 | $8.1M | Reduce -1.0% |
| ACN Accenture PLC Class A | 0.14% | 32,700 | $8.1M | Reduce -0.9% |
| PYPL PayPal Holdings Inc. | 0.13% | 119,800 | $8.0M | Reduce -2.1% |
| SPGI S&P Global Inc. | 0.13% | 16,400 | $8.0M | Reduce -1.2% |
| APH Amphenol Corp. Class A | 0.13% | 64,100 | $7.9M | Add +0.5% |
Portfolio Sells Q2 2025 → Q3 2025
| NFLX Netflix Inc. | Reduce -0.6% | 1.07% | −0.23 |
| MSFT Microsoft Corp. | Reduce -0.5% | 5.30% | −0.22 |
| META Meta Platforms Inc. Class A | Reduce -0.6% | 2.19% | −0.20 |
| COST Costco Wholesale Corp. | Reduce -0.4% | 0.86% | −0.14 |
| ISRG Intuitive Surgical Inc. | Reduce -0.4% | 0.34% | −0.11 |
| INTU Intuit Inc. | Reduce -0.8% | 0.40% | −0.10 |
| EME Emcor Group Inc. | Reduce -81.8% | 0.03% | −0.10 |
| IBKR Interactive Brokers Gro Class A | Reduce -80.9% | 0.03% | −0.10 |
| SPSM SS SPDR P S&P 600 Small Cap | Sold out | 0.00% | −0.08 |
| TXN Texas Instruments Inc. | Reduce -0.3% | 0.35% | −0.08 |
| V Visa Inc. Class A | Reduce -1.3% | 0.51% | −0.07 |
| ANSS Ansys Inc. | Sold out | 0.00% | −0.07 |
| ADBE Adobe Inc. | Reduce -0.9% | 0.31% | −0.06 |
| HON Honeywell International Inc. | Reduce -1.6% | 0.28% | −0.06 |
| CMCSA Comcast Corp. Class A | Reduce -1.5% | 0.24% | −0.06 |
| CSCO Cisco Systems Inc. | Reduce -0.6% | 0.57% | −0.06 |
| CRM Salesforce Inc. | Reduce -0.8% | 0.20% | −0.05 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -0.3% | 0.21% | −0.05 |
| PM Philip Morris International | Reduce -0.5% | 0.22% | −0.05 |
| CHTR Charter Communications Inc. Class A | Reduce -2.6% | 0.07% | −0.04 |
| ACN Accenture PLC Class A | Reduce -0.9% | 0.14% | −0.04 |
| SPMD SS SPDR P S&P 400 Midcap ETF | Reduce -23.6% | 0.12% | −0.04 |
| SKX Skechers USA Inc. Class A | Sold out | 0.00% | −0.04 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.6% | 0.81% | −0.04 |
| PG The Procter & Gamble Co. | Reduce -0.7% | 0.32% | −0.04 |
| HES Hess Corp. | Sold out | 0.00% | −0.04 |
| KO The Coca-Cola Co. | Reduce -0.6% | 0.23% | −0.04 |
| ADP Automatic Data Processing | Reduce -0.6% | 0.25% | −0.04 |
| SBUX Starbucks Corp. | Reduce -0.4% | 0.20% | −0.04 |
| TMUS T-Mobile US Inc. | Reduce -0.7% | 0.43% | −0.04 |
| GMS GMS Inc. | Sold out | 0.00% | −0.04 |
| LIN Linde PLC | Reduce -0.7% | 0.47% | −0.03 |
| SFM Sprouts Farmers Market Inc. | Reduce -1.1% | 0.05% | −0.03 |
| QRVO Qorvo Inc. | Reduce -47.7% | 0.03% | −0.03 |
| DIS The Walt Disney Co. | Reduce -0.6% | 0.18% | −0.03 |
| IBM Intl Business Machines Corp. | Reduce -0.2% | 0.23% | −0.03 |
| PYPL PayPal Holdings Inc. | Reduce -2.1% | 0.13% | −0.03 |
| FISV Fiserv Inc. | Reduce -2.7% | 0.06% | −0.03 |
| KDP Keurig Dr Pepper Inc. | Reduce -0.3% | 0.07% | −0.03 |
| MDLZ Mondelez International Inc. Class A | Reduce -0.4% | 0.17% | −0.03 |
| CTAS Cintas Corp. | Reduce -0.4% | 0.16% | −0.03 |
| ROP Roper Technologies Inc. | Reduce -1.5% | 0.11% | −0.03 |
| CMG Chipotle Mexican Grill Inc. | Reduce -1.0% | 0.05% | −0.03 |
| VRSK Verisk Analytics Inc. | Reduce -0.6% | 0.07% | −0.03 |
| VNOM Viper Energy Inc. | Sold out | 0.00% | −0.03 |
| GILD Gilead Sciences Inc. | Reduce -0.6% | 0.29% | −0.02 |
| SPGI S&P Global Inc. | Reduce -1.2% | 0.13% | −0.02 |
| BSX Boston Scientific Corp. | Reduce -0.4% | 0.13% | −0.02 |
| EAT Brinker International Inc. | Reduce -1.9% | 0.04% | −0.02 |
| CHX Championx Corp. | Sold out | 0.00% | −0.02 |
Portfolio Buys Q2 2025 → Q3 2025
| APP AppLovin Corp. Class A | Add +62.7% | 0.44% | +0.30 |
| PLTR Palantir Technologies Inc. Class A | Add +2.7% | 0.87% | +0.19 |
| HOOD Robinhood Markets Inc. Class A | New | 0.10% | +0.10 |
| NTNX Nutanix Inc. Class A | New | 0.09% | +0.09 |
| TLN Talen Energy Corp. | New | 0.09% | +0.09 |
| TRI Thomson Reuters Corp. | New | 0.09% | +0.09 |
| TRU Transunion | New | 0.08% | +0.08 |
| FTI Technipfmc PLC | New | 0.08% | +0.08 |
| TWLO Twilio Inc. Class A | New | 0.07% | +0.07 |
| ORCL Oracle Corp. | Add +1.4% | 0.41% | +0.07 |
| SNDK Sandisk Corp. | Add +0.6% | 0.12% | +0.07 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +9.7% | 0.77% | +0.07 |
| HL Hecla Mining Co. | New | 0.06% | +0.06 |
| ELAN Elanco Animal Health Inc. | New | 0.05% | +0.05 |
| MKTX Marketaxess Holdings Inc. | Add +760.0% | 0.05% | +0.04 |
| QQQ Invesco QQQ Trust Series 1 | Add +29.2% | 0.18% | +0.04 |
| MIR Mirion Technologies Inc. | New | 0.04% | +0.04 |
| CVX Chevron Corp. | Add +17.8% | 0.26% | +0.04 |
| DDOG Datadog Inc. Class A | Add +73.5% | 0.10% | +0.04 |
| WBD Warner Bros Discovery Inc. | Add +3.6% | 0.10% | +0.04 |
| CZR Caesars Entertainment Inc. | Add +769.1% | 0.04% | +0.04 |
| QTWO Q2 Holdings Inc. | New | 0.03% | +0.03 |
| XYZ Block Inc. | New | 0.03% | +0.03 |
| ENPH Enphase Energy Inc. | Add +771.0% | 0.04% | +0.03 |
| VNOM Viper Energy Inc. Class A | New | 0.03% | +0.03 |
| WAY Waystar Holding Corp. | New | 0.03% | +0.03 |
| NE Noble Corp. PLC | New | 0.03% | +0.03 |
| VCTR Victory Capital Holding - A | New | 0.02% | +0.02 |
| VCYT Veracyte Inc. | New | 0.02% | +0.02 |
| CG The Carlyle Group Inc. | Add +21.0% | 0.08% | +0.02 |
| ARWR Arrowhead Pharmaceuticals Inc. | Add +8.3% | 0.04% | +0.02 |
| VSAT Viasat Inc. | Add +55.0% | 0.03% | +0.02 |
| APH Amphenol Corp. Class A | Add +0.5% | 0.13% | +0.02 |
| KGS Kodiak Gas Services Inc. | New | 0.02% | +0.02 |
| GLW Corning Inc. | Add +0.5% | 0.06% | +0.02 |
| SITM Sitime Corp. | Add +11.1% | 0.05% | +0.02 |
| KNTK Kinetik Holdings Inc. | New | 0.01% | +0.01 |
| PI Impinj Inc. | Add +8.2% | 0.04% | +0.01 |
| WELL Welltower Inc. | Add +7.0% | 0.10% | +0.01 |
| BAC Bank of America Corp. | Add +3.4% | 0.31% | +0.01 |
| DKS Dick's Sporting Goods Inc. | Add +17.0% | 0.07% | +0.01 |
| NXT Nextpower Inc. | Add +2.0% | 0.05% | +0.01 |
| EVR Evercore Inc. Class A | Add +5.9% | 0.06% | +0.01 |
| DASH DoorDash Inc. Class A | Add +3.0% | 0.22% | +0.01 |
| SGI Somnigroup International Inc. | Add +0.5% | 0.08% | +0.01 |
| COLB Columbia Banking System Inc. | Add +40.8% | 0.04% | +0.01 |
| PRKS United Parks & Resorts Inc. | New | 0.01% | +0.01 |
| XEL Xcel Energy Inc. | Add +2.1% | 0.10% | +0.01 |
| SNPS Synopsys Inc. | Add +18.7% | 0.19% | +0.01 |
| REYN Reynolds Consumer Products I | New | 0.01% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026Amended | 1,523 | $6.7B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q1 2026 | 1,517 | $5.7B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q4 2025 | 1,522 | $5.8B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q3 2025 | 1,516 | $6.0B | NVDA, MSFT, AAPL, AMZN, AVGO |
| Q2 2025 | 1,518 | $5.5B | NVDA, MSFT, AAPL, AMZN, META |
| Q1 2025 | 1,517 | $5.0B | AAPL, MSFT, NVDA, AMZN, META |
| Q4 2024 | 1,512 | $5.3B | AAPL, NVDA, MSFT, AMZN, AVGO |
| Q3 2024 | 1,521 | $5.4B | AAPL, MSFT, NVDA, AMZN, META |
| Q2 2024 | 1,518 | $5.2B | MSFT, AAPL, NVDA, AMZN, META |
| Q1 2024 | 1,522 | $5.1B | MSFT, AAPL, NVDA, AMZN, META |