NJ State Employees Deferred Compensation Plan

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 7, 2025), NJ State Employees Deferred Compensation Plan reported 437 stock positions worth $906.3 million. Its top holding was Microsoft (MSFT) at 6.5% of the portfolio, followed by Apple (AAPL, 6.4%) and Nvidia (NVDA, 6.1%). Compared with Q2 2025, it opened 9 new positions, sold out of 9, added to 5 and reduced 27. The biggest buy was Chevron (CVX, shares +39%) and the biggest sale Microsoft (MSFT, shares −2%).

Most Recent 13F
Q2 2026
Location
TRENTON, NJ
CIK
0001483259
Portfolio Value
$906.3M (Q3 2025)
SEC Filing
0001483259-25-000003 ↗ filed Nov 7, 2025

Holdings Value

0$200.0M$400.0M$600.0M$800.0M$1.0B Q1 2024: $789.5M Q1 2024 Q2 2024: $804.2M Q2 2024 Q3 2024: $842.0M Q3 2024 Q4 2024: $822.9M Q4 2024 Q1 2025: $779.3M Q1 2025 Q2 2025: $846.4M Q2 2025 Q3 2025: $906.3M $906.3M Q3 2025 Q4 2025: $0 Q4 2025 Q1 2026: $0 Q1 2026 Q2 2026: $0 Q2 2026

Holdings 437 stocks · $906.3M
MSFT Microsoft Corp. 6.46% 113,090 $58.6M Reduce -1.9%
AAPL Apple Inc. 6.41% 228,000 $58.1M Reduce -2.1%
NVDA Nvidia Corp. 6.09% 296,000 $55.2M No change
AMZN Amazon.com Inc. 3.40% 140,200 $30.8M No change
GOOG Alphabet Inc. Class C 2.64% 98,200 $23.9M Reduce -8.2%
META Meta Platforms Inc. Class A 2.53% 31,180 $22.9M Reduce -1.6%
JPM JPMorgan Chase & Co. 2.02% 58,110 $18.3M Reduce -4.7%
GOOGL Alphabet Inc. Class A 1.55% 57,600 $14.0M No change
LLY Eli Lilly & Co. 1.53% 18,210 $13.9M Add +6.1%
AXP American Express Co. 1.16% 31,600 $10.5M No change
ORCL Oracle Corp. 1.16% 37,300 $10.5M No change
GS Goldman Sachs Group Inc. 1.02% 11,610 $9.2M Reduce -14.3%
XOM Exxon Mobil Corp. 0.90% 72,417 $8.2M No change
JNJ Johnson & Johnson 0.86% 41,969 $7.8M Reduce -10.1%
LRCX Lam Research Corp. 0.78% 52,960 $7.1M Reduce -6.5%
MRK Merck & Co. Inc. 0.74% 80,252 $6.7M No change
CSCO Cisco Systems Inc. 0.73% 97,000 $6.6M No change
COF Capital One Financial Corp. 0.72% 30,860 $6.6M Reduce -8.0%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.72% 60,038 $6.5M No change
BRK.B Berkshire Hathaway Inc. Class B 0.72% 12,900 $6.5M No change
WFC Wells Fargo & Co. 0.71% 77,000 $6.5M No change
AMAT Applied Materials Inc. 0.70% 31,200 $6.4M No change
WMT Walmart Inc. 0.70% 61,760 $6.4M Reduce -16.1%
PG The Procter & Gamble Co. 0.70% 41,300 $6.3M No change
COST Costco Wholesale Corp. 0.69% 6,780 $6.3M Reduce -5.8%
KLAC KLA Corp. 0.67% 5,670 $6.1M Reduce -7.0%
RTX RTX Corp. 0.64% 34,745 $5.8M Reduce -15.7%
PM Philip Morris International 0.63% 35,200 $5.7M No change
CVX Chevron Corp. 0.63% 36,643 $5.7M Add +38.8%
FTAI Ftai Aviation Ltd. 0.57% 30,900 $5.2M Reduce -14.2%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.55% 17,800 $5.0M No change
MU Micron Technology Inc. 0.55% 30,000 $5.0M No change
QCOM Qualcomm Inc. 0.55% 30,000 $5.0M No change
MSI Motorola Solutions Inc. 0.54% 10,771 $4.9M No change
AMT American Tower Corp. 0.53% 25,200 $4.8M No change
GE General Electric filed as GE AEROSPACE 0.52% 15,728 $4.7M Reduce -7.6%
LIN Linde PLC 0.51% 9,700 $4.6M No change
MCD McDonald's Corp. 0.51% 15,073 $4.6M Reduce -8.6%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.49% 86,582 $4.5M No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.49% 38,700 $4.4M No change
ABT Abbott Laboratories 0.49% 32,854 $4.4M No change
BSX Boston Scientific Corp. 0.47% 43,600 $4.3M Reduce -7.2%
DE Deere & Co. 0.46% 9,100 $4.2M No change
CMCSA Comcast Corp. Class A 0.44% 127,000 $4.0M No change
HL Hecla Mining Co. 0.43% 325,550 $3.9M Reduce -5.6%
CMG Chipotle Mexican Grill Inc. 0.43% 99,300 $3.9M No change
NSC Norfolk Southern Corp. 0.42% 12,700 $3.8M No change
UNP Union Pacific Corp. 0.42% 16,090 $3.8M Reduce -14.0%
PH Parker Hannifin Corp. 0.42% 5,000 $3.8M No change
NOC Northrop Grumman Corp. 0.41% 6,100 $3.7M No change
LOW Lowe's Cos Inc. 0.41% 14,700 $3.7M No change
EFX Equifax Inc. 0.39% 13,700 $3.5M No change
ROK Rockwell Automation Inc. 0.39% 10,000 $3.5M No change
RSG Republic Services Inc. 0.38% 15,000 $3.4M No change
TGTX TG Therapeutics Inc. 0.37% 91,600 $3.3M No change
UNH Unitedhealth Group Inc. 0.36% 9,500 $3.3M No change
EME Emcor Group Inc. 0.36% 5,000 $3.2M No change
HD Home Depot Inc. 0.36% 8,000 $3.2M No change
SCHW Schwab (charles) Corp. 0.36% 33,800 $3.2M No change
MCHP Microchip Technology Inc. 0.35% 50,000 $3.2M No change
LMB Limbach Holdings Inc. 0.35% 33,000 $3.2M No change
YUM Yum! Brands Inc. 0.35% 21,000 $3.2M No change
CDNS Cadence Design SYS Inc. 0.35% 9,050 $3.2M No change
AVGO Broadcom Inc. 0.34% 9,360 $3.1M No change
ABBV Abbvie Inc. 0.34% 13,184 $3.1M Reduce -11.9%
NEE Nextera Energy Inc. 0.33% 40,000 $3.0M No change
SEIC Sei Investments Company 0.33% 35,400 $3.0M No change
THC Tenet Healthcare Corp. 0.33% 14,700 $3.0M No change
TMO Thermo Fisher Scientific Inc. 0.32% 6,000 $2.9M No change
GD General Dynamics Corp. 0.32% 8,500 $2.9M No change
VZ Verizon Communications Inc. 0.32% 65,000 $2.9M No change
COP Conocophillips 0.31% 30,100 $2.8M No change
MRSH Marsh & McLennan Cos 0.31% 14,100 $2.8M No change
SNPS Synopsys Inc. 0.31% 5,742 $2.8M No change
KO The Coca-Cola Co. 0.31% 42,570 $2.8M Reduce -9.8%
INTC Intel Corp. 0.31% 83,000 $2.8M No change
MTZ Mastec Inc. 0.31% 13,000 $2.8M No change
T AT&T Inc. 0.30% 97,689 $2.8M No change
AMD Advanced Micro Devices 0.30% 17,000 $2.8M No change
IONS Ionis Pharmaceuticals Inc. 0.30% 42,000 $2.7M No change
MPC Marathon Petroleum Corp. 0.29% 13,800 $2.7M No change
GEV GE Vernova Inc. 0.29% 4,257 $2.6M No change
MTSI Macom Technology Solutions H 0.29% 21,000 $2.6M No change
USB US Bancorp 0.29% 53,500 $2.6M No change
CB Chubb Ltd. 0.28% 9,028 $2.5M No change
HON Honeywell International Inc. 0.28% 12,000 $2.5M No change
PNC PNC Financial Services Group 0.26% 11,900 $2.4M No change
CWCO Consolidated Water Co.-Ord SH 0.26% 67,000 $2.4M No change
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.26% 23,000 $2.4M No change
CVCO Cavco Industries Inc. 0.26% 4,000 $2.3M No change
MCK McKesson Corp. 0.26% 3,000 $2.3M Reduce -14.3%
EBAY eBay Inc. 0.25% 25,000 $2.3M No change
CVS CVS Health Corp. 0.25% 29,766 $2.2M No change
SPXC SPX Technologies Inc. 0.25% 12,000 $2.2M No change
WMB Williams Cos Inc. 0.24% 35,000 $2.2M No change
UNM Unum Group 0.24% 28,000 $2.2M No change
VKTX Viking Therapeutics Inc. 0.23% 79,320 $2.1M Add +65.3%
PEP Pepsico Inc. 0.23% 14,751 $2.1M No change
ALL Allstate Corp. 0.23% 9,610 $2.1M No change
TMUS T-Mobile US Inc. 0.23% 8,612 $2.1M Reduce -19.2%

Show all 437 holdings

Portfolio Sells Q2 2025 → Q3 2025
MSFT Microsoft Corp. Reduce -1.9% 6.46% −0.31
META Meta Platforms Inc. Class A Reduce -1.6% 2.53% −0.24
HES Hess Corp. Sold out 0.00% −0.16
COST Costco Wholesale Corp. Reduce -5.8% 0.69% −0.15
WMT Walmart Inc. Reduce -16.1% 0.70% −0.15
BSX Boston Scientific Corp. Reduce -7.2% 0.47% −0.13
COF Capital One Financial Corp. Reduce -8.0% 0.72% −0.12
GS Goldman Sachs Group Inc. Reduce -14.3% 1.02% −0.11
UNP Union Pacific Corp. Reduce -14.0% 0.42% −0.09
KO The Coca-Cola Co. Reduce -9.8% 0.31% −0.08
TMUS T-Mobile US Inc. Reduce -19.2% 0.23% −0.07
JNPR Juniper Networks Inc. Sold out 0.00% −0.07
RTX RTX Corp. Reduce -15.7% 0.64% −0.07
JPM JPMorgan Chase & Co. Reduce -4.7% 2.02% −0.07
MCD McDonald's Corp. Reduce -8.6% 0.51% −0.06
KR Kroger Co. Reduce -25.4% 0.12% −0.06
GILD Gilead Sciences Inc. Reduce -23.1% 0.13% −0.05
AMGN Amgen Inc. Reduce -16.0% 0.18% −0.05
MCK McKesson Corp. Reduce -14.3% 0.26% −0.05
TGI Triumph Group Inc. Sold out 0.00% −0.05
ALGN Align Technology Inc. Sold out 0.00% −0.03
FLR Fluor Corp. Sold out 0.00% −0.03
RAMP Liveramp Holdings Inc. Sold out 0.00% −0.03
PARAA Paramount Global Class B Sold out 0.00% −0.03
AZO AutoZone Inc. Reduce -18.0% 0.19% −0.03
VERV Verve Therapeutics Inc. Sold out 0.00% −0.02
XRN Global Medical REIT Inc. Sold out 0.00% −0.01
GE General Electric Reduce -7.6% 0.52% +0.00
ABBV Abbvie Inc. Reduce -11.9% 0.34% +0.01
JNJ Johnson & Johnson Reduce -10.1% 0.86% +0.02
KLAC KLA Corp. Reduce -7.0% 0.67% +0.03
FTAI Ftai Aviation Ltd. Reduce -14.2% 0.57% +0.08
LRCX Lam Research Corp. Reduce -6.5% 0.78% +0.13
HL Hecla Mining Co. Reduce -5.6% 0.43% +0.19
GOOG Alphabet Inc. Class C Reduce -8.2% 2.64% +0.40
AAPL Apple Inc. Reduce -2.1% 6.41% +0.76

Portfolio Buys Q2 2025 → Q3 2025
CVX Chevron Corp. Add +38.8% 0.63% +0.18
TSM Taiwan Semiconductor-SP ADR New 0.15% +0.15
CAT Caterpillar Inc. New 0.09% +0.09
VKTX Viking Therapeutics Inc. Add +65.3% 0.23% +0.08
BIIB Biogen Inc. Add +107.2% 0.08% +0.04
NXT Nextpower Inc. New 0.03% +0.03
KVUE Kenvue Inc. Add +180.4% 0.05% +0.03
ACLS Axcelis Technologies Inc. New 0.03% +0.03
PFG Principal Financial Group New 0.02% +0.02
UHS Universal Health Services-B New 0.02% +0.02
SPHR Sphere Entertainment Co. New 0.02% +0.02
ROG Rogers Corp. New 0.02% +0.02
VLTO Veralto Corp. New 0.02% +0.02
LLY Eli Lilly & Co. Add +6.1% 1.53% −0.05

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 0$0
Q1 2026 0$0
Q4 2025 0$0
Q3 2025 437$906.3MMSFT, AAPL, NVDA, AMZN, GOOG
Q2 2025 437$846.4MMSFT, AAPL, NVDA, AMZN, META
Q1 2025 444$779.3MAAPL, MSFT, NVDA, AMZN, META
Q4 2024 462$822.9MAAPL, MSFT, NVDA, AMZN, GOOG
Q3 2024 474$842.0MAAPL, MSFT, NVDA, AMZN, META
Q2 2024 473$804.2MMSFT, AAPL, NVDA, AMZN, GOOG
Q1 2024 481$789.5MMSFT, AAPL, AMZN, NVDA, GOOG