Louisiana State Employees Retirement System
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 16, 2026), Louisiana State Employees Retirement System reported 1,522 stock positions worth $5.8 billion. Its top holding was Nvidia (NVDA) at 5.9% of the portfolio, followed by Apple (AAPL, 5.2%) and Microsoft (MSFT, 4.6%). Compared with Q3 2025, it opened 25 new positions, sold out of 21, added to 121 and reduced 1,186. The biggest buy was Invesco QQQ Trust Series 1 (QQQ, shares +54%) and the biggest sale Microsoft (MSFT, shares −8%).
- Most Recent 13F
- Q2 2026
- Location
- BATON ROUGE, LA
- CIK
- 0001537191
- Portfolio Value
- $5.8B (Q4 2025)
- SEC Filing
- 0001537191-26-000002 ↗ filed Jan 16, 2026
Holdings Value
Holdings 1,522 stocks · $5.8B
| NVDA Nvidia Corp. | 5.86% | 1,830,100 | $341.3M | Reduce -8.5% |
| AAPL Apple Inc. | 5.19% | 1,112,800 | $302.5M | Reduce -8.7% |
| MSFT Microsoft Corp. | 4.65% | 559,800 | $270.7M | Reduce -8.3% |
| AMZN Amazon.com Inc. | 2.99% | 755,900 | $174.5M | Reduce -8.4% |
| GOOGL Alphabet Inc. Class A | 2.35% | 438,200 | $137.2M | Reduce -8.3% |
| AVGO Broadcom Inc. | 2.11% | 355,600 | $123.1M | Reduce -25.5% |
| META Meta Platforms Inc. Class A | 2.07% | 182,400 | $120.4M | Add +2.4% |
| GOOG Alphabet Inc. Class C | 1.98% | 368,500 | $115.6M | Reduce -9.2% |
| TSLA Tesla Inc. | 1.93% | 250,700 | $112.7M | Reduce -1.8% |
| PLTR Palantir Technologies Inc. Class A | 0.82% | 269,500 | $47.9M | Reduce -5.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.81% | 93,700 | $47.1M | Reduce -2.6% |
| NFLX Netflix Inc. | 0.80% | 499,800 | $46.9M | Reduce -6.2% |
| COST Costco Wholesale Corp. | 0.77% | 52,200 | $45.0M | Reduce -6.1% |
| JPM JPMorgan Chase & Co. | 0.77% | 139,100 | $44.8M | Reduce -3.6% |
| LLY Eli Lilly & Co. | 0.75% | 40,600 | $43.6M | Reduce -2.6% |
| AMD Advanced Micro Devices | 0.71% | 192,100 | $41.1M | Reduce -5.7% |
| MU Micron Technology Inc. | 0.65% | 132,600 | $37.8M | Reduce -5.5% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.63% | 459,900 | $36.9M | Reduce -21.4% |
| CSCO Cisco Systems Inc. | 0.62% | 465,600 | $35.9M | Reduce -6.2% |
| V Visa Inc. Class A | 0.52% | 86,200 | $30.2M | Reduce -3.3% |
| XOM Exxon Mobil Corp. | 0.44% | 215,400 | $25.9M | Reduce -3.7% |
| JNJ Johnson & Johnson | 0.44% | 123,100 | $25.5M | Reduce -2.6% |
| LRCX Lam Research Corp. | 0.44% | 148,200 | $25.4M | Reduce -6.6% |
| WMT Walmart Inc. | 0.43% | 224,000 | $25.0M | Reduce -2.7% |
| AMAT Applied Materials Inc. | 0.41% | 94,000 | $24.2M | Reduce -6.2% |
| MA Mastercard Inc. Class A | 0.41% | 41,900 | $23.9M | Reduce -3.2% |
| ISRG Intuitive Surgical Inc. | 0.41% | 41,800 | $23.7M | Reduce -6.9% |
| LIN Linde PLC | 0.40% | 55,100 | $23.5M | Reduce -6.3% |
| APP AppLovin Corp. Class A | 0.40% | 34,400 | $23.2M | Reduce -6.0% |
| PEP Pepsico Inc. | 0.40% | 161,300 | $23.1M | Reduce -6.0% |
| INTU Intuit Inc. | 0.37% | 32,800 | $21.7M | Reduce -6.0% |
| QCOM Qualcomm Inc. | 0.37% | 126,300 | $21.6M | Reduce -6.7% |
| AMGN Amgen Inc. | 0.36% | 63,500 | $20.8M | Reduce -5.9% |
| ABBV Abbvie Inc. | 0.35% | 90,300 | $20.6M | Reduce -2.6% |
| BKNG Booking Holdings Inc. | 0.35% | 3,800 | $20.4M | Reduce -7.3% |
| INTC Intel Corp. | 0.35% | 548,100 | $20.2M | Reduce -0.1% |
| TMUS T-Mobile US Inc. | 0.35% | 99,400 | $20.2M | Reduce -7.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.32% | 343,200 | $18.9M | Reduce -4.0% |
| KLAC KLA Corp. | 0.32% | 15,500 | $18.8M | Reduce -6.1% |
| TXN Texas Instruments Inc. | 0.32% | 107,200 | $18.6M | Reduce -6.0% |
| GILD Gilead Sciences Inc. | 0.31% | 146,400 | $18.0M | Reduce -5.9% |
| HD Home Depot Inc. | 0.30% | 50,800 | $17.5M | Reduce -2.7% |
| ADBE Adobe Inc. | 0.30% | 49,400 | $17.3M | Reduce -7.1% |
| PG The Procter & Gamble Co. | 0.29% | 119,400 | $17.1M | Reduce -2.9% |
| ORCL Oracle Corp. | 0.29% | 85,900 | $16.7M | Reduce -1.3% |
| QQQ Invesco QQQ Trust Series 1 | 0.29% | 27,200 | $16.7M | Add +53.7% |
| GE General Electric filed as GE AEROSPACE | 0.28% | 53,900 | $16.6M | Reduce -3.1% |
| ADI Analog Devices Inc. | 0.27% | 57,900 | $15.7M | Reduce -6.5% |
| UNH Unitedhealth Group Inc. | 0.26% | 46,300 | $15.3M | Reduce -2.5% |
| PANW Palo Alto Networks Inc. | 0.26% | 81,500 | $15.0M | Reduce -2.7% |
| WFC Wells Fargo & Co. | 0.26% | 160,300 | $14.9M | Reduce -4.6% |
| CVX Chevron Corp. | 0.25% | 96,700 | $14.7M | Reduce -4.2% |
| HON Honeywell International Inc. | 0.25% | 74,900 | $14.6M | Reduce -5.9% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.24% | 47,700 | $14.1M | Reduce -2.5% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.24% | 29,600 | $13.9M | Reduce -5.7% |
| KO The Coca-Cola Co. | 0.24% | 197,800 | $13.8M | Reduce -2.7% |
| CAT Caterpillar Inc. | 0.23% | 23,900 | $13.7M | Reduce -2.9% |
| VRTX Vertex Pharmaceuticals Inc. | 0.23% | 30,000 | $13.6M | Reduce -6.8% |
| GS Goldman Sachs Group Inc. | 0.23% | 15,300 | $13.4M | Reduce -3.8% |
| MRK Merck & Co. Inc. | 0.23% | 126,800 | $13.3M | Reduce -3.3% |
| SHOP Shopify Inc. Class A | 0.23% | 81,800 | $13.2M | Reduce -8.1% |
| CEG Constellation Energy | 0.22% | 36,900 | $13.0M | Reduce -5.9% |
| CRM Salesforce Inc. | 0.22% | 48,600 | $12.9M | Reduce -3.2% |
| CMCSA Comcast Corp. Class A | 0.22% | 428,800 | $12.8M | Reduce -7.2% |
| PM Philip Morris International | 0.22% | 79,500 | $12.8M | Reduce -2.7% |
| RTX RTX Corp. | 0.22% | 68,500 | $12.6M | Reduce -2.4% |
| ADP Automatic Data Processing | 0.21% | 47,800 | $12.3M | Reduce -5.9% |
| SBUX Starbucks Corp. | 0.19% | 134,200 | $11.3M | Reduce -5.8% |
| ABT Abbott Laboratories | 0.19% | 88,800 | $11.1M | Reduce -2.7% |
| TMO Thermo Fisher Scientific Inc. | 0.19% | 19,200 | $11.1M | Reduce -3.0% |
| MCD McDonald's Corp. | 0.19% | 36,400 | $11.1M | Reduce -2.7% |
| MS Morgan Stanley | 0.19% | 61,700 | $11.0M | Reduce -3.1% |
| C Citigroup Inc. | 0.18% | 91,400 | $10.7M | Reduce -5.4% |
| DASH DoorDash Inc. Class A | 0.18% | 46,300 | $10.5M | Reduce -4.9% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.18% | 91,200 | $10.4M | Reduce -3.3% |
| SNPS Synopsys Inc. | 0.18% | 21,900 | $10.3M | Reduce -5.3% |
| AXP American Express Co. | 0.17% | 27,400 | $10.1M | Reduce -3.9% |
| CDNS Cadence Design SYS Inc. | 0.17% | 32,100 | $10.0M | Reduce -6.1% |
| REGN Regeneron Pharmaceuticals | 0.16% | 12,000 | $9.3M | Reduce -7.0% |
| MAR Marriott International Class A | 0.16% | 29,400 | $9.1M | Reduce -7.0% |
| CIEN Ciena Corp. | 0.16% | 39,000 | $9.1M | Reduce -1.0% |
| GEV GE Vernova Inc. | 0.16% | 13,900 | $9.1M | Reduce -2.8% |
| ORLY O'reilly Automotive Inc. | 0.16% | 99,600 | $9.1M | Reduce -6.4% |
| T AT&T Inc. | 0.15% | 362,100 | $9.0M | Reduce -3.5% |
| VZ Verizon Communications Inc. | 0.15% | 215,400 | $8.8M | Reduce -2.6% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.15% | 56,800 | $8.7M | Reduce -2.9% |
| BA The Boeing Co. | 0.15% | 40,000 | $8.7M | Add +0.8% |
| UBER Uber Technologies Inc. | 0.15% | 106,100 | $8.7M | Reduce -3.0% |
| NEE Nextera Energy Inc. | 0.15% | 106,400 | $8.5M | Reduce -1.6% |
| SCHW Schwab (charles) Corp. | 0.15% | 85,300 | $8.5M | Reduce -4.7% |
| ACN Accenture PLC Class A | 0.15% | 31,700 | $8.5M | Reduce -3.1% |
| APH Amphenol Corp. Class A | 0.14% | 62,500 | $8.4M | Reduce -2.5% |
| WBD Warner Bros Discovery Inc. | 0.14% | 292,400 | $8.4M | Reduce -5.8% |
| CTAS Cintas Corp. | 0.14% | 44,300 | $8.3M | Reduce -6.5% |
| SPGI S&P Global Inc. | 0.14% | 15,800 | $8.3M | Reduce -3.7% |
| MDLZ Mondelez International Inc. Class A | 0.14% | 152,200 | $8.2M | Reduce -6.2% |
| NOW ServiceNow Inc. | 0.14% | 53,000 | $8.1M | Reduce -2.8% |
| COHR Coherent Corp. | 0.14% | 43,500 | $8.0M | Add +0.5% |
| CSX CSX Corp. | 0.14% | 219,700 | $8.0M | Reduce -6.0% |
| BLK BlackRock Inc. | 0.14% | 7,400 | $7.9M | Reduce -2.6% |
Portfolio Sells Q3 2025 → Q4 2025
| MSFT Microsoft Corp. | Reduce -8.3% | 4.65% | −0.66 |
| AVGO Broadcom Inc. | Reduce -25.5% | 2.11% | −0.53 |
| NVDA Nvidia Corp. | Reduce -8.5% | 5.86% | −0.41 |
| NFLX Netflix Inc. | Reduce -6.2% | 0.80% | −0.27 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Reduce -21.4% | 0.63% | −0.14 |
| ORCL Oracle Corp. | Reduce -1.3% | 0.29% | −0.12 |
| FIX Comfort Systems USA Inc. | Reduce -81.6% | 0.03% | −0.11 |
| COOP Mr Cooper Group Inc. | Sold out | 0.00% | −0.10 |
| COST Costco Wholesale Corp. | Reduce -6.1% | 0.77% | −0.09 |
| SNDK Sandisk Corp. | Reduce -88.8% | 0.03% | −0.09 |
| TMUS T-Mobile US Inc. | Reduce -7.5% | 0.35% | −0.09 |
| LIN Linde PLC | Reduce -6.3% | 0.40% | −0.07 |
| MSTR Strategy Inc. | Reduce -6.8% | 0.05% | −0.06 |
| HD Home Depot Inc. | Reduce -2.7% | 0.30% | −0.06 |
| PLTR Palantir Technologies Inc. Class A | Reduce -5.5% | 0.82% | −0.05 |
| AMZN Amazon.com Inc. | Reduce -8.4% | 2.99% | −0.05 |
| APP AppLovin Corp. Class A | Reduce -6.0% | 0.40% | −0.04 |
| DASH DoorDash Inc. Class A | Reduce -4.9% | 0.18% | −0.04 |
| ADP Automatic Data Processing | Reduce -5.9% | 0.21% | −0.04 |
| ORLY O'reilly Automotive Inc. | Reduce -6.4% | 0.16% | −0.04 |
| STRL Sterling Infrastructure Inc. | Reduce -39.3% | 0.04% | −0.04 |
| CORT Corcept Therapeutics Inc. | Reduce -0.5% | 0.03% | −0.03 |
| LNWO Light & Wonder Inc. | Sold out | 0.00% | −0.03 |
| TXN Texas Instruments Inc. | Reduce -6.0% | 0.32% | −0.03 |
| TTD Trade Desk Inc./the Class A | Reduce -59.8% | 0.01% | −0.03 |
| UBER Uber Technologies Inc. | Reduce -3.0% | 0.15% | −0.03 |
| HON Honeywell International Inc. | Reduce -5.9% | 0.25% | −0.03 |
| FISV Fiserv Inc. | Reduce -3.5% | 0.03% | −0.03 |
| MDLZ Mondelez International Inc. Class A | Reduce -6.2% | 0.14% | −0.03 |
| CDNS Cadence Design SYS Inc. | Reduce -6.1% | 0.17% | −0.03 |
| NOW ServiceNow Inc. | Reduce -2.8% | 0.14% | −0.03 |
| PANW Palo Alto Networks Inc. | Reduce -2.7% | 0.26% | −0.03 |
| CDW CDW Corp. | Reduce -59.4% | 0.02% | −0.03 |
| BWA Borgwarner Inc. | Reduce -40.5% | 0.05% | −0.03 |
| MELI MercadoLibre Inc. | Reduce -8.1% | 0.12% | −0.03 |
| AXON Axon Enterprise Inc. | Reduce -5.1% | 0.09% | −0.03 |
| INTU Intuit Inc. | Reduce -6.0% | 0.37% | −0.03 |
| FAST Fastenal Co. | Reduce -5.9% | 0.09% | −0.03 |
| GFS Globalfoundries Inc. | Sold out | 0.00% | −0.02 |
| PYPL PayPal Holdings Inc. | Reduce -7.8% | 0.11% | −0.02 |
| CMCSA Comcast Corp. Class A | Reduce -7.2% | 0.22% | −0.02 |
| T AT&T Inc. | Reduce -3.5% | 0.15% | −0.02 |
| ON On Semiconductor | Reduce -59.8% | 0.02% | −0.02 |
| PG The Procter & Gamble Co. | Reduce -2.9% | 0.29% | −0.02 |
| LULU Lululemon Athletica Inc. | Reduce -61.0% | 0.02% | −0.02 |
| BKNG Booking Holdings Inc. | Reduce -7.3% | 0.35% | −0.02 |
| COIN Coinbase Global Inc. Class A | Reduce -1.7% | 0.05% | −0.02 |
| CHTR Charter Communications Inc. Class A | Reduce -11.4% | 0.05% | −0.02 |
| PDD PDD Holdings Inc. | Reduce -8.2% | 0.09% | −0.02 |
| ACM Aecom | Reduce -0.8% | 0.06% | −0.02 |
Portfolio Buys Q3 2025 → Q4 2025
| QQQ Invesco QQQ Trust Series 1 | Add +53.7% | 0.29% | +0.11 |
| WDC Western Digital Corp. | Add +122.0% | 0.12% | +0.08 |
| STX Seagate Technology Holdings | Add +126.8% | 0.12% | +0.08 |
| PINS Pinterest Inc. Class A | New | 0.07% | +0.07 |
| CRH CRH PLC | New | 0.07% | +0.07 |
| LITE Lumentum Holdings Inc. | Add +1.0% | 0.12% | +0.07 |
| HL Hecla Mining Co. | Add +22.0% | 0.12% | +0.06 |
| ALNY Alnylam Pharmaceuticals Inc. | New | 0.06% | +0.06 |
| COHR Coherent Corp. | Add +0.5% | 0.14% | +0.06 |
| FER Ferrovial NV | New | 0.05% | +0.05 |
| LKQ LKQ Corp. | Add +768.9% | 0.06% | +0.05 |
| PRIM Primoris Services Corp. | New | 0.05% | +0.05 |
| CVNA Carvana Co. | New | 0.05% | +0.05 |
| EMN Eastman Chemical Co. | Add +771.7% | 0.06% | +0.05 |
| BAH Booz Allen Hamilton Holdings | New | 0.05% | +0.05 |
| MPWR Monolithic Power Systems Inc. | Add +124.0% | 0.09% | +0.05 |
| CWST Casella Waste Systems Inc. Class A | New | 0.05% | +0.05 |
| PTCT PTC Therapeutics Inc. | New | 0.05% | +0.05 |
| SOLS Solstice Adv Materials Inc. | Add +265.3% | 0.06% | +0.04 |
| INSM Insmed Inc. | New | 0.04% | +0.04 |
| MHK Mohawk Industries Inc. | Add +781.5% | 0.04% | +0.04 |
| KMX Carmax Inc. | Add +751.9% | 0.04% | +0.04 |
| CRBG Corebridge Financial Inc. | New | 0.04% | +0.04 |
| INDV Indivior Ltd. | New | 0.04% | +0.04 |
| SPSM SS SPDR P S&P 600 Small Cap | New | 0.03% | +0.03 |
| BTSG Brightspring Health Services | New | 0.03% | +0.03 |
| PATH Uipath Inc. Class A | New | 0.03% | +0.03 |
| ARES Ares Management Corp. Class A | New | 0.03% | +0.03 |
| ULS Ul Solutions Inc. Class A | New | 0.03% | +0.03 |
| BSY Bentley Systems Inc. Class B | New | 0.03% | +0.03 |
| FIBK First Interstate Bancsys-A | New | 0.02% | +0.02 |
| RGLD Royal Gold Inc. | Add +22.4% | 0.09% | +0.02 |
| RRR Red Rock Resorts Inc. Class A | New | 0.02% | +0.02 |
| SPXC SPX Technologies Inc. | Add +21.6% | 0.09% | +0.02 |
| QRVO Qorvo Inc. | Add +68.9% | 0.06% | +0.02 |
| UPWK Upwork Inc. | New | 0.02% | +0.02 |
| SANM Sanmina Corp. | Add +2.0% | 0.06% | +0.02 |
| HE Hawaiian Electric Inds | New | 0.02% | +0.02 |
| ACMR Acm Research Inc. Class A | New | 0.02% | +0.02 |
| ROIV Roivant Sciences Ltd. | Add +1.2% | 0.05% | +0.01 |
| FORM Formfactor Inc. | Add +0.3% | 0.03% | +0.01 |
| NLY Annaly Capital Management Inc. | Add +5.8% | 0.07% | +0.01 |
| WU Western Union Co. | Add +62.0% | 0.02% | +0.01 |
| VITL Vital Farms Inc. | New | 0.01% | +0.01 |
| RCUS Arcus Biosciences Inc. | Add +23.0% | 0.02% | +0.01 |
| OMC Omnicom Group | Add +59.8% | 0.02% | +0.01 |
| SEZL Sezzle Inc. | New | 0.01% | +0.01 |
| CLF Cleveland-Cliffs Inc. | Add +14.4% | 0.04% | +0.01 |
| DNOW Dnow Inc. | Add +72.8% | 0.02% | +0.01 |
| FTRE Fortrea Holdings Inc. | Add +1.4% | 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 |