New Mexico Educational Retirement Board
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 10, 2026), New Mexico Educational Retirement Board reported 906 stock positions worth $3.4 billion. Its top holding was Nvidia (NVDA) at 6.2% of the portfolio, followed by Apple (AAPL, 5.5%) and Microsoft (MSFT, 4.9%). Compared with Q3 2025, it opened 15 new positions, sold out of 15, added to 395 and reduced 55. The biggest buy was Alphabet Class A (GOOGL, shares +1%) and the biggest sale Comfort Systems USA (FIX, shares −78%).
- Most Recent 13F
- Q2 2026
- Location
- SANTA FE, NM
- CIK
- 0000862469
- Portfolio Value
- $3.4B (Q4 2025)
- SEC Filing
- 0000862469-26-000001 ↗ filed Feb 10, 2026
Holdings Value
Holdings 906 stocks · $3.4B
| NVDA Nvidia Corp. | 6.21% | 1,116,080 | $208.1M | Add +1.3% |
| AAPL Apple Inc. | 5.49% | 677,064 | $184.1M | Add +1.1% |
| MSFT Microsoft Corp. | 4.93% | 341,947 | $165.4M | Add +1.9% |
| AMZN Amazon.com Inc. | 3.06% | 444,500 | $102.6M | Add +1.5% |
| GOOGL Alphabet Inc. Class A | 2.49% | 266,620 | $83.5M | Add +1.4% |
| AVGO Broadcom Inc. | 2.24% | 216,560 | $75.0M | Add +1.9% |
| GOOG Alphabet Inc. Class C | 1.98% | 211,680 | $66.4M | Reduce -0.2% |
| META Meta Platforms Inc. Class A | 1.97% | 100,050 | $66.0M | Add +2.0% |
| TSLA Tesla Inc. | 1.73% | 128,800 | $57.9M | Add +1.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.27% | 84,457 | $42.5M | Add +1.9% |
| JPM JPMorgan Chase & Co. | 1.22% | 126,650 | $40.8M | Add +0.9% |
| LLY Eli Lilly & Co. | 1.17% | 36,408 | $39.1M | Add +2.5% |
| V Visa Inc. Class A | 0.82% | 78,634 | $27.6M | Add +1.7% |
| XOM Exxon Mobil Corp. | 0.71% | 197,653 | $23.8M | Add +1.5% |
| JNJ Johnson & Johnson | 0.69% | 111,685 | $23.1M | Add +2.8% |
| WMT Walmart Inc. | 0.67% | 201,479 | $22.4M | Add +3.2% |
| MA Mastercard Inc. Class A | 0.65% | 37,910 | $21.6M | Add +3.5% |
| PLTR Palantir Technologies Inc. Class A | 0.56% | 104,700 | $18.6M | Add +1.9% |
| ABBV Abbvie Inc. | 0.55% | 81,255 | $18.6M | Add +1.9% |
| NFLX Netflix Inc. | 0.54% | 192,210 | $18.0M | No change |
| COST Costco Wholesale Corp. | 0.52% | 20,165 | $17.4M | Add +0.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.51% | 313,254 | $17.2M | Add +5.8% |
| AMD Advanced Micro Devices | 0.47% | 73,350 | $15.7M | Add +0.1% |
| HD Home Depot Inc. | 0.47% | 45,492 | $15.7M | Add +1.3% |
| PG The Procter & Gamble Co. | 0.46% | 107,468 | $15.4M | Add +1.4% |
| MU Micron Technology Inc. | 0.45% | 52,875 | $15.1M | Add +4.8% |
| GE General Electric filed as GE AEROSPACE | 0.45% | 48,877 | $15.1M | Add +1.4% |
| ORCL Oracle Corp. | 0.45% | 76,590 | $14.9M | Add +4.2% |
| UNH Unitedhealth Group Inc. | 0.42% | 42,420 | $14.0M | Add +3.4% |
| CSCO Cisco Systems Inc. | 0.42% | 180,974 | $13.9M | Add +0.7% |
| WFC Wells Fargo & Co. | 0.41% | 146,916 | $13.7M | Reduce -0.1% |
| CVX Chevron Corp. | 0.40% | 87,592 | $13.3M | Add +1.0% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.38% | 43,147 | $12.8M | Add +2.9% |
| CAT Caterpillar Inc. | 0.37% | 21,902 | $12.5M | Add +3.3% |
| KO The Coca-Cola Co. | 0.37% | 178,320 | $12.5M | Add +1.9% |
| GS Goldman Sachs Group Inc. | 0.37% | 13,989 | $12.3M | Add +0.7% |
| MRK Merck & Co. Inc. | 0.36% | 114,586 | $12.1M | Add +1.0% |
| CRM Salesforce Inc. | 0.35% | 44,086 | $11.7M | Add +1.6% |
| RTX RTX Corp. | 0.34% | 61,276 | $11.2M | Add +1.5% |
| PM Philip Morris International | 0.33% | 68,511 | $11.0M | Reduce -2.6% |
| TMO Thermo Fisher Scientific Inc. | 0.31% | 17,762 | $10.3M | Add +4.1% |
| ABT Abbott Laboratories | 0.30% | 80,202 | $10.0M | Add +2.0% |
| MCD McDonald's Corp. | 0.30% | 32,619 | $10.0M | Add +0.9% |
| MS Morgan Stanley | 0.30% | 56,110 | $10.0M | Add +0.5% |
| LRCX Lam Research Corp. | 0.30% | 57,830 | $9.9M | No change |
| C Citigroup Inc. | 0.30% | 84,826 | $9.9M | Add +0.5% |
| ISRG Intuitive Surgical Inc. | 0.28% | 16,842 | $9.5M | Add +4.3% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.28% | 82,555 | $9.4M | Add +1.6% |
| AMAT Applied Materials Inc. | 0.28% | 35,886 | $9.2M | Reduce -2.2% |
| AXP American Express Co. | 0.27% | 24,763 | $9.2M | Reduce -0.8% |
| LIN Linde PLC | 0.27% | 21,236 | $9.1M | No change |
| PEP Pepsico Inc. | 0.27% | 62,685 | $9.0M | Add +1.1% |
| QCOM Qualcomm Inc. | 0.25% | 49,557 | $8.5M | No change |
| INTU Intuit Inc. | 0.25% | 12,778 | $8.5M | Add +0.8% |
| APP AppLovin Corp. Class A | 0.25% | 12,400 | $8.4M | Add +1.6% |
| T AT&T Inc. | 0.24% | 327,462 | $8.1M | Add +0.7% |
| AMGN Amgen Inc. | 0.24% | 24,795 | $8.1M | Add +2.1% |
| GEV GE Vernova Inc. | 0.24% | 12,319 | $8.1M | No change |
| UBER Uber Technologies Inc. | 0.24% | 96,500 | $7.9M | Add +2.1% |
| VZ Verizon Communications Inc. | 0.24% | 193,571 | $7.9M | Add +1.6% |
| SCHW Schwab (charles) Corp. | 0.23% | 78,687 | $7.9M | Add +1.9% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.23% | 50,780 | $7.8M | Add +0.6% |
| NEE Nextera Energy Inc. | 0.23% | 97,032 | $7.8M | Add +4.3% |
| BKNG Booking Holdings Inc. | 0.23% | 1,448 | $7.8M | No change |
| ACN Accenture PLC Class A | 0.23% | 28,650 | $7.7M | Add +1.4% |
| APH Amphenol Corp. Class A | 0.23% | 56,060 | $7.6M | Add +2.6% |
| SPGI S&P Global Inc. | 0.22% | 14,386 | $7.5M | Add +1.4% |
| BA The Boeing Co. | 0.22% | 34,495 | $7.5M | Add +1.2% |
| INTC Intel Corp. | 0.22% | 200,370 | $7.4M | Add +1.7% |
| NOW ServiceNow Inc. | 0.22% | 47,750 | $7.3M | Add +2.1% |
| TXN Texas Instruments Inc. | 0.22% | 41,954 | $7.3M | Add +2.2% |
| KLAC KLA Corp. | 0.21% | 5,880 | $7.1M | Reduce -1.7% |
| COF Capital One Financial Corp. | 0.21% | 29,352 | $7.1M | Add +1.7% |
| GILD Gilead Sciences Inc. | 0.21% | 57,526 | $7.1M | Add +2.3% |
| BLK BlackRock Inc. | 0.21% | 6,589 | $7.1M | No change |
| DHR Danaher Corp. | 0.20% | 29,935 | $6.9M | Add +4.2% |
| CIEN Ciena Corp. | 0.20% | 29,200 | $6.8M | Reduce -3.6% |
| ADBE Adobe Inc. | 0.20% | 19,318 | $6.8M | Add +0.5% |
| BSX Boston Scientific Corp. | 0.20% | 68,762 | $6.6M | Add +2.8% |
| PFE Pfizer Inc. | 0.19% | 262,000 | $6.5M | Add +2.0% |
| ANET Arista Networks Inc. | 0.19% | 48,300 | $6.3M | Add +3.9% |
| UNP Union Pacific Corp. | 0.19% | 27,288 | $6.3M | Add +1.1% |
| ADI Analog Devices Inc. | 0.19% | 22,986 | $6.2M | Add +2.7% |
| LOW Lowe's Cos Inc. | 0.18% | 25,577 | $6.2M | Add +1.2% |
| PGR Progressive Corp. | 0.18% | 26,975 | $6.1M | Add +1.9% |
| COHR Coherent Corp. | 0.18% | 32,164 | $5.9M | Add +3.5% |
| MDT Medtronic PLC | 0.17% | 59,587 | $5.7M | Add +2.8% |
| WELL Welltower Inc. | 0.17% | 30,748 | $5.7M | Add +9.6% |
| ETN Eaton Corp. PLC | 0.17% | 17,760 | $5.7M | Add +0.6% |
| HON Honeywell International Inc. | 0.17% | 28,986 | $5.7M | No change |
| PANW Palo Alto Networks Inc. | 0.17% | 30,400 | $5.6M | Add +1.7% |
| SYK Stryker Corp. | 0.17% | 15,909 | $5.6M | Add +2.6% |
| PLD Prologis Inc. | 0.16% | 42,927 | $5.5M | Add +2.4% |
| DE Deere & Co. | 0.16% | 11,502 | $5.4M | Add +0.9% |
| COP Conocophillips | 0.16% | 57,198 | $5.4M | Add +0.3% |
| CB Chubb Ltd. | 0.16% | 17,137 | $5.3M | Add +1.8% |
| LITE Lumentum Holdings Inc. | 0.16% | 14,500 | $5.3M | Add +3.6% |
| CEG Constellation Energy | 0.16% | 15,019 | $5.3M | Add +6.4% |
| VRTX Vertex Pharmaceuticals Inc. | 0.16% | 11,700 | $5.3M | Add +0.9% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.16% | 11,300 | $5.3M | No change |
Other holdings (1): bonds, preferreds, convertibles and warrants · $25K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| GME.WS Gamestop Corp. | *W EXP 10/30/202 | 8,428 | $25K | No change |
Total filed on the 13F, all lines: $3.4B.
Portfolio Sells Q3 2025 → Q4 2025
| FIX Comfort Systems USA Inc. | Reduce -78.4% | 0.04% | −0.14 |
| LNWO Light & Wonder Inc. | Sold out | 0.00% | −0.05 |
| K Kellanova | Sold out | 0.00% | −0.03 |
| PM Philip Morris International | Reduce -2.6% | 0.33% | −0.03 |
| ALE Allete Inc. | Sold out | 0.00% | −0.02 |
| VST Vistra Corp. | Reduce -2.0% | 0.07% | −0.02 |
| PRGO Perrigo Co. PLC | Sold out | 0.00% | −0.02 |
| WU Western Union Co. | Sold out | 0.00% | −0.02 |
| PYPL PayPal Holdings Inc. | Reduce -0.9% | 0.08% | −0.02 |
| SMCI Super Micro Computer Inc. | Reduce -1.7% | 0.02% | −0.01 |
| IPG Interpublic Group of Cos Inc. | Sold out | 0.00% | −0.01 |
| POWI Power Integrations Inc. | Sold out | 0.00% | −0.01 |
| NKE Nike Inc. Class B | Reduce -0.2% | 0.10% | −0.01 |
| IRDM Iridium Communications Inc. | Sold out | 0.00% | −0.01 |
| NSP Insperity Inc. | Sold out | 0.00% | −0.01 |
| LKQ LKQ Corp. | Sold out | 0.00% | −0.01 |
| PSKY Paramount Skydance Class B | Reduce -47.8% | 0.01% | −0.01 |
| EMN Eastman Chemical Co. | Sold out | 0.00% | −0.01 |
| KMX Carmax Inc. | Sold out | 0.00% | −0.01 |
| MHK Mohawk Industries Inc. | Sold out | 0.00% | −0.01 |
| SYY Sysco Corp. | Reduce -1.4% | 0.05% | −0.01 |
| IR Ingersoll-Rand Inc. | Reduce -9.9% | 0.04% | −0.01 |
| MTG Mgic Investment Corp. | Reduce -13.4% | 0.04% | −0.01 |
| POOL Pool Corp. | Reduce -11.8% | 0.01% | −0.01 |
| UAA Under Armour Inc. Class A | Sold out | 0.00% | −0.01 |
| UA Under Armour Inc. Class C | Sold out | 0.00% | −0.01 |
| LAD Lithia Motors Inc. | Reduce -10.7% | 0.05% | −0.01 |
| RJF Raymond James Financial Inc. | Reduce -1.2% | 0.04% | −0.01 |
| FHN First Horizon Corp. | Reduce -8.0% | 0.07% | −0.01 |
| GIS General Mills Inc. | Reduce -1.2% | 0.03% | −0.00 |
| GNRC Generac Holdings Inc. | Reduce -3.7% | 0.01% | −0.00 |
| KHC The Kraft Heinz Co. | Reduce -0.3% | 0.03% | −0.00 |
| MIDD Middleby Corp. | Reduce -13.6% | 0.04% | −0.00 |
| DPZ Domino's Pizza Inc. | Reduce -6.7% | 0.02% | −0.00 |
| WYNN WYNN Resorts Ltd. | Reduce -7.6% | 0.01% | −0.00 |
| TNL Travel + Leisure Co. | Reduce -19.3% | 0.03% | −0.00 |
| STZ Constellation Brands Inc. Class A | Reduce -5.8% | 0.03% | −0.00 |
| DVA Davita Inc. | Reduce -10.6% | 0.01% | −0.00 |
| MTCH Match Group Inc. | Reduce -1.8% | 0.01% | −0.00 |
| MTB M & T Bank Corp. | Reduce -1.4% | 0.04% | −0.00 |
| RNR Renaissancere Holdings Ltd. | Reduce -7.8% | 0.08% | −0.00 |
| NTRS Northern Trust Corp. | Reduce -1.1% | 0.04% | −0.00 |
| HST Host Hotels & Resorts Inc. | Reduce -7.7% | 0.02% | −0.00 |
| DECK Deckers Outdoor Corp. | Reduce -1.4% | 0.02% | −0.00 |
| BF.B Brown-Forman Corp. Class B | Reduce -1.2% | 0.01% | −0.00 |
| HSIC Henry Schein Inc. | Reduce -12.8% | 0.01% | −0.00 |
| BALL Ball Corp. | Reduce -1.6% | 0.02% | −0.00 |
| L Loews Corp. | Reduce -1.3% | 0.02% | −0.00 |
| MGM MGM Resorts International | Reduce -2.1% | 0.01% | −0.00 |
| LVS Las Vegas Sands Corp. | Reduce -13.7% | 0.03% | +0.00 |
Portfolio Buys Q3 2025 → Q4 2025
| GOOGL Alphabet Inc. Class A | Add +1.4% | 2.49% | +0.51 |
| LLY Eli Lilly & Co. | Add +2.5% | 1.17% | +0.33 |
| AAPL Apple Inc. | Add +1.1% | 5.49% | +0.20 |
| MU Micron Technology Inc. | Add +4.8% | 0.45% | +0.19 |
| CRH CRH PLC | New | 0.11% | +0.11 |
| AMD Advanced Micro Devices | Add +0.1% | 0.47% | +0.10 |
| PINS Pinterest Inc. Class A | New | 0.09% | +0.09 |
| LITE Lumentum Holdings Inc. | Add +3.6% | 0.16% | +0.09 |
| CVNA Carvana Co. | New | 0.08% | +0.08 |
| HL Hecla Mining Co. | New | 0.08% | +0.08 |
| AMZN Amazon.com Inc. | Add +1.5% | 3.06% | +0.08 |
| COHR Coherent Corp. | Add +3.5% | 0.18% | +0.07 |
| JNJ Johnson & Johnson | Add +2.8% | 0.69% | +0.06 |
| MRK Merck & Co. Inc. | Add +1.0% | 0.36% | +0.06 |
| BAH Booz Allen Hamilton Holdings | New | 0.06% | +0.06 |
| AVGO Broadcom Inc. | Add +1.9% | 2.24% | +0.06 |
| SPXC SPX Technologies Inc. | New | 0.06% | +0.06 |
| ISRG Intuitive Surgical Inc. | Add +4.3% | 0.28% | +0.06 |
| CAT Caterpillar Inc. | Add +3.3% | 0.37% | +0.06 |
| DY Dycom Industries Inc. | New | 0.06% | +0.06 |
| BWA Borgwarner Inc. | New | 0.06% | +0.06 |
| STRL Sterling Infrastructure Inc. | New | 0.06% | +0.06 |
| TMO Thermo Fisher Scientific Inc. | Add +4.1% | 0.31% | +0.05 |
| CRBG Corebridge Financial Inc. | New | 0.05% | +0.05 |
| WMT Walmart Inc. | Add +3.2% | 0.67% | +0.05 |
| ARES Ares Management Corp. Class A | New | 0.05% | +0.05 |
| SNDK Sandisk Corp. | New | 0.05% | +0.05 |
| BAC Bank of America Corp. | Add +5.8% | 0.51% | +0.04 |
| WBD Warner Bros Discovery Inc. | Add +12.1% | 0.10% | +0.04 |
| ULS Ul Solutions Inc. Class A | New | 0.04% | +0.04 |
| BSY Bentley Systems Inc. Class B | New | 0.04% | +0.04 |
| CSCO Cisco Systems Inc. | Add +0.7% | 0.42% | +0.03 |
| AMGN Amgen Inc. | Add +2.1% | 0.24% | +0.03 |
| C Citigroup Inc. | Add +0.5% | 0.30% | +0.03 |
| CRM Salesforce Inc. | Add +1.6% | 0.35% | +0.03 |
| REGN Regeneron Pharmaceuticals | Add +2.1% | 0.11% | +0.03 |
| XOM Exxon Mobil Corp. | Add +1.5% | 0.71% | +0.03 |
| DHR Danaher Corp. | Add +4.2% | 0.20% | +0.03 |
| RGLD Royal Gold Inc. | Add +24.6% | 0.11% | +0.03 |
| WDC Western Digital Corp. | Add +3.8% | 0.08% | +0.03 |
| GS Goldman Sachs Group Inc. | Add +0.7% | 0.37% | +0.02 |
| GM General Motors Co. | Add +0.2% | 0.11% | +0.02 |
| FCX Freeport-McMoran Inc. | Add +3.1% | 0.10% | +0.02 |
| COF Capital One Financial Corp. | Add +1.7% | 0.21% | +0.02 |
| MS Morgan Stanley | Add +0.5% | 0.30% | +0.02 |
| RTX RTX Corp. | Add +1.5% | 0.34% | +0.02 |
| BMY Bristol-Myers Squibb Co. | Add +1.2% | 0.15% | +0.02 |
| PH Parker Hannifin Corp. | Add +1.7% | 0.15% | +0.02 |
| VRTX Vertex Pharmaceuticals Inc. | Add +0.9% | 0.16% | +0.02 |
| GILD Gilead Sciences Inc. | Add +2.3% | 0.21% | +0.02 |
Notes & Other Activity Q3 2025 → Q4 2025
| VAC Marriott Vacations World | COM | Reduce -100.0% | 0 | $0 |
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 | 907 | $4.0B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q1 2026 | 906 | $3.3B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q4 2025 | 906 | $3.4B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q3 2025 | 906 | $3.2B | NVDA, MSFT, AAPL, AMZN, META |
| Q2 2025 | 906 | $3.1B | NVDA, MSFT, AAPL, AMZN, META |
| Q1 2025 | 905 | $2.8B | AAPL, MSFT, NVDA, AMZN, META |
| Q4 2024 | 905 | $3.0B | AAPL, NVDA, MSFT, AMZN, META |
| Q3 2024 | 906 | $3.0B | AAPL, MSFT, NVDA, AMZN, META |
| Q2 2024 | 906 | $2.9B | MSFT, NVDA, AAPL, AMZN, META |
| Q1 2024Amended | 905 | $2.8B | MSFT, AAPL, NVDA, AMZN, META |