New Mexico Educational Retirement Board

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 30, 2025), New Mexico Educational Retirement Board reported 906 stock positions worth $3.1 billion. Its top holding was Nvidia (NVDA) at 5.9% of the portfolio, followed by Microsoft (MSFT, 5.6%) and Apple (AAPL, 4.7%). Compared with Q1 2025, it opened 4 new positions, sold out of 4, added to 7 and reduced 6. The biggest buy was a new position in Okta (OKTA) and the biggest sale an exit from Discover Financial Services (DFS).

Most Recent 13F
Q2 2026
Location
SANTA FE, NM
CIK
0000862469
Portfolio Value
$3.1B (Q2 2025)
SEC Filing
0000862469-25-000003 ↗ filed Jul 30, 2025

Holdings Value

0$1.0B$2.0B$3.0B$4.0B Q1 2024: $2.8B Q1 2024 Q2 2024: $2.9B Q2 2024 Q3 2024: $3.0B Q3 2024 Q4 2024: $3.0B Q4 2024 Q1 2025: $2.8B Q1 2025 Q2 2025: $3.1B $3.1B Q2 2025 Q3 2025: $3.2B Q3 2025 Q4 2025: $3.4B Q4 2025 Q1 2026: $3.3B Q1 2026 Q2 2026: $4.0B Q2 2026

Holdings 906 stocks · $3.1B
NVDA Nvidia Corp. 5.91% 1,146,380 $181.1M No change
MSFT Microsoft Corp. 5.64% 347,447 $172.8M No change
AAPL Apple Inc. 4.70% 701,864 $144.0M No change
AMZN Amazon.com Inc. 3.16% 440,700 $96.7M No change
META Meta Platforms Inc. Class A 2.45% 101,850 $75.2M No change
AVGO Broadcom Inc. 1.96% 218,260 $60.2M No change
GOOGL Alphabet Inc. Class A 1.57% 273,020 $48.1M No change
BRK.B Berkshire Hathaway Inc. Class B 1.36% 85,657 $41.6M No change
TSLA Tesla Inc. 1.35% 130,500 $41.5M No change
GOOG Alphabet Inc. Class C 1.29% 222,380 $39.4M No change
JPM JPMorgan Chase & Co. 1.24% 131,550 $38.1M No change
LLY Eli Lilly & Co. 0.94% 36,808 $28.7M No change
V Visa Inc. Class A 0.94% 80,734 $28.7M No change
NFLX Netflix Inc. 0.88% 20,021 $26.8M No change
XOM Exxon Mobil Corp. 0.72% 205,353 $22.1M No change
MA Mastercard Inc. Class A 0.70% 38,310 $21.5M No change
COST Costco Wholesale Corp. 0.67% 20,665 $20.5M No change
WMT Walmart Inc. 0.65% 202,879 $19.8M No change
PG The Procter & Gamble Co. 0.57% 110,068 $17.5M No change
JNJ Johnson & Johnson 0.56% 112,485 $17.2M No change
HD Home Depot Inc. 0.56% 46,392 $17.0M No change
ORCL Oracle Corp. 0.54% 75,090 $16.4M No change
ABBV Abbvie Inc. 0.50% 82,555 $15.3M No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.48% 311,954 $14.8M No change
UNH Unitedhealth Group Inc. 0.44% 43,020 $13.4M No change
PM Philip Morris International 0.43% 72,711 $13.2M No change
PLTR Palantir Technologies Inc. Class A 0.43% 95,800 $13.1M No change
GE General Electric filed as GE AEROSPACE 0.42% 50,577 $13.0M No change
CSCO Cisco Systems Inc. 0.42% 186,274 $12.9M No change
KO The Coca-Cola Co. 0.42% 181,220 $12.8M No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.42% 43,247 $12.7M No change
WFC Wells Fargo & Co. 0.41% 155,616 $12.5M No change
CRM Salesforce Inc. 0.40% 44,686 $12.2M No change
CVX Chevron Corp. 0.36% 78,116 $11.2M No change
ABT Abbott Laboratories 0.36% 81,102 $11.0M No change
AMD Advanced Micro Devices 0.35% 75,850 $10.8M No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.34% 84,655 $10.5M No change
LIN Linde PLC 0.34% 22,236 $10.4M No change
GS Goldman Sachs Group Inc. 0.34% 14,689 $10.4M No change
INTU Intuit Inc. 0.34% 13,078 $10.3M No change
NOW ServiceNow Inc. 0.32% 9,650 $9.9M No change
MCD McDonald's Corp. 0.32% 33,519 $9.8M No change
T AT&T Inc. 0.32% 335,362 $9.7M No change
MRK Merck & Co. Inc. 0.31% 118,186 $9.4M No change
UBER Uber Technologies Inc. 0.30% 98,400 $9.2M No change
RTX RTX Corp. 0.30% 62,176 $9.1M No change
ISRG Intuitive Surgical Inc. 0.30% 16,642 $9.0M No change
BKNG Booking Holdings Inc. 0.29% 1,548 $9.0M No change
TXN Texas Instruments Inc. 0.29% 42,654 $8.9M No change
CAT Caterpillar Inc. 0.29% 22,602 $8.8M No change
ACN Accenture PLC Class A 0.29% 29,250 $8.7M No change
VZ Verizon Communications Inc. 0.28% 196,771 $8.5M No change
PEP Pepsico Inc. 0.28% 64,085 $8.5M No change
AXP American Express Co. 0.27% 25,963 $8.3M No change
QCOM Qualcomm Inc. 0.27% 51,957 $8.3M No change
MS Morgan Stanley 0.27% 58,010 $8.2M No change
ADBE Adobe Inc. 0.26% 20,618 $8.0M No change
SPGI S&P Global Inc. 0.26% 14,886 $7.8M No change
C Citigroup Inc. 0.25% 88,426 $7.5M No change
BSX Boston Scientific Corp. 0.24% 68,862 $7.4M No change
BA The Boeing Co. 0.24% 34,895 $7.3M No change
PGR Progressive Corp. 0.24% 27,375 $7.3M No change
SCHW Schwab (charles) Corp. 0.24% 79,687 $7.3M No change
TMO Thermo Fisher Scientific Inc. 0.24% 17,862 $7.2M No change
BLK BlackRock Inc. 0.23% 6,789 $7.1M No change
HON Honeywell International Inc. 0.23% 30,386 $7.1M No change
AMAT Applied Materials Inc. 0.23% 38,486 $7.0M No change
AMGN Amgen Inc. 0.23% 25,095 $7.0M No change
GEV GE Vernova Inc. 0.22% 12,919 $6.8M No change
NEE Nextera Energy Inc. 0.22% 96,132 $6.7M No change
ETN Eaton Corp. PLC 0.22% 18,460 $6.6M No change
UNP Union Pacific Corp. 0.21% 28,288 $6.5M No change
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.21% 52,680 $6.5M No change
GILD Gilead Sciences Inc. 0.21% 58,226 $6.5M No change
PFE Pfizer Inc. 0.21% 264,800 $6.4M No change
MU Micron Technology Inc. 0.21% 51,775 $6.4M No change
CMCSA Comcast Corp. Class A 0.21% 178,416 $6.4M No change
SYK Stryker Corp. 0.21% 16,009 $6.3M No change
COF Capital One Financial Corp. 0.21% 29,752 $6.3M Add +67.0%
PANW Palo Alto Networks Inc. 0.20% 30,600 $6.3M No change
DE Deere & Co. 0.20% 11,902 $6.1M No change
DHR Danaher Corp. 0.19% 30,035 $5.9M No change
LOW Lowe's Cos Inc. 0.19% 26,477 $5.9M No change
ADP Automatic Data Processing 0.19% 19,043 $5.9M No change
LRCX Lam Research Corp. 0.19% 60,130 $5.9M No change
KLAC KLA Corp. 0.18% 6,280 $5.6M No change
APH Amphenol Corp. Class A 0.18% 56,360 $5.6M No change
CRWD CrowdStrike Holdings Inc. Class A 0.18% 10,900 $5.6M No change
ADI Analog Devices Inc. 0.18% 23,186 $5.5M No change
COP Conocophillips 0.18% 60,498 $5.4M No change
TMUS T-Mobile US Inc. 0.18% 22,750 $5.4M No change
VRTX Vertex Pharmaceuticals Inc. 0.17% 12,000 $5.3M No change
MDT Medtronic PLC 0.17% 59,887 $5.2M No change
CB Chubb Ltd. 0.17% 17,537 $5.1M No change
BX Blackstone Inc. 0.16% 33,700 $5.0M No change
MRSH Marsh & McLennan Cos 0.16% 22,941 $5.0M No change
EME Emcor Group Inc. 0.16% 9,300 $5.0M No change
ANET Arista Networks Inc. 0.16% 48,300 $4.9M No change
ICE Intercontinental Exchange Inc. 0.16% 26,870 $4.9M No change
IBKR Interactive Brokers Gro Class A 0.16% 88,912 $4.9M No change

Show all 906 holdings

Portfolio Sells Q1 2025 → Q2 2025
DFS Discover Financial Services Sold out 0.00% −0.07
X United States Steel Corp. Sold out 0.00% −0.07
BERY Berry Global Group Inc. Sold out 0.00% −0.06
JWN Nordstrom Inc. Sold out 0.00% −0.02
MUSA Murphy USA Inc. Reduce -7.3% 0.05% −0.02
SCI Service Corp. International Reduce -7.3% 0.08% −0.01
BLD Topbuild Corp. Reduce -10.8% 0.06% −0.01
CNX CNX Resources Corp. Reduce -14.7% 0.03% −0.01
CSL Carlisle Cos Inc. Reduce -5.3% 0.11% −0.01
USFD US Foods Holding Corp. Reduce -4.6% 0.12% +0.00

Portfolio Buys Q1 2025 → Q2 2025
OKTA Okta Inc. New 0.11% +0.11
COIN Coinbase Global Inc. Class A New 0.10% +0.10
COF Capital One Financial Corp. Add +67.0% 0.21% +0.09
APG Api Group Corp. New 0.08% +0.08
PEGA Pegasystems Inc. New 0.03% +0.03
SGI Somnigroup International Inc. Add +6.8% 0.09% +0.01
WTFC Wintrust Financial Corp. Add +10.5% 0.06% +0.01
ESAB Esab Corp. Add +11.4% 0.05% +0.00
FLG Flagstar Bank NA Add +27.3% 0.02% +0.00
KNF Knife River Corp. Add +14.7% 0.03% −0.00
NLY Annaly Capital Management Inc. Add +8.2% 0.08% −0.01

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 907$4.0BNVDA, AAPL, MSFT, AMZN, GOOGL
Q1 2026 906$3.3BNVDA, AAPL, MSFT, AMZN, GOOGL
Q4 2025 906$3.4BNVDA, AAPL, MSFT, AMZN, GOOGL
Q3 2025 906$3.2BNVDA, MSFT, AAPL, AMZN, META
Q2 2025 906$3.1BNVDA, MSFT, AAPL, AMZN, META
Q1 2025 905$2.8BAAPL, MSFT, NVDA, AMZN, META
Q4 2024 905$3.0BAAPL, NVDA, MSFT, AMZN, META
Q3 2024 906$3.0BAAPL, MSFT, NVDA, AMZN, META
Q2 2024 906$2.9BMSFT, NVDA, AAPL, AMZN, META
Q1 2024Amended 905$2.8BMSFT, AAPL, NVDA, AMZN, META