Oregon Public Employees Retirement Fund
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 25, 2025), Oregon Public Employees Retirement Fund reported 1,509 stock positions worth $5.7 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 7 new positions, sold out of 8, added to 668 and reduced 509. The biggest buy was Nvidia (NVDA, shares +0%) and the biggest sale Blue Owl Capital (OBDC, shares −2%).
- Most Recent 13F
- Q2 2026
- Location
- TIGARD, OR
- CIK
- 0001107314
- Portfolio Value
- $5.7B (Q2 2025)
- SEC Filing
- 0001213900-25-067775 ↗ filed Jul 25, 2025
Holdings Value
Holdings 1,509 stocks · $5.7B
| NVDA Nvidia Corp. | 5.87% | 2,108,279 | $333.1M | Add +0.3% |
| MSFT Microsoft Corp. | 5.63% | 642,282 | $319.5M | Add +0.6% |
| AAPL Apple Inc. | 4.67% | 1,290,897 | $264.9M | Add +0.1% |
| OBDC Blue Owl Capital Corp. | 4.01% | 15,853,675 | $227.3M | Reduce -1.5% |
| AMZN Amazon.com Inc. | 3.16% | 816,800 | $179.2M | Add +0.8% |
| META Meta Platforms Inc. Class A | 2.44% | 187,768 | $138.6M | Reduce -0.2% |
| AVGO Broadcom Inc. | 1.98% | 406,447 | $112.0M | Add +1.0% |
| GOOGL Alphabet Inc. Class A | 1.56% | 503,157 | $88.7M | Add +0.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.36% | 158,533 | $77.0M | Add +0.5% |
| TSLA Tesla Inc. | 1.36% | 242,256 | $77.0M | Add +0.8% |
| GOOG Alphabet Inc. Class C | 1.27% | 405,859 | $72.0M | Reduce -0.1% |
| JPM JPMorgan Chase & Co. | 1.23% | 240,267 | $69.7M | Add +0.0% |
| LLY Eli Lilly & Co. | 0.93% | 67,913 | $52.9M | Add +0.3% |
| V Visa Inc. Class A | 0.93% | 147,944 | $52.5M | Reduce -0.1% |
| NFLX Netflix Inc. | 0.87% | 36,787 | $49.3M | Add +0.0% |
| XOM Exxon Mobil Corp. | 0.71% | 372,447 | $40.1M | Reduce -0.5% |
| MA Mastercard Inc. Class A | 0.69% | 70,017 | $39.3M | No change |
| COST Costco Wholesale Corp. | 0.67% | 38,279 | $37.9M | Add +0.1% |
| WMT Walmart Inc. | 0.64% | 373,296 | $36.5M | Add +0.1% |
| PG The Procter & Gamble Co. | 0.57% | 202,617 | $32.3M | Add +0.6% |
| JNJ Johnson & Johnson | 0.56% | 207,929 | $31.8M | Add +0.5% |
| HD Home Depot Inc. | 0.56% | 85,934 | $31.5M | Add +0.6% |
| ORCL Oracle Corp. | 0.54% | 140,513 | $30.7M | Add +0.9% |
| ABBV Abbvie Inc. | 0.50% | 152,736 | $28.4M | Add +0.7% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.47% | 566,293 | $26.8M | Reduce -0.5% |
| PLTR Palantir Technologies Inc. Class A | 0.44% | 183,793 | $25.1M | Add +4.4% |
| PM Philip Morris International | 0.43% | 134,496 | $24.5M | Add +0.7% |
| UNH Unitedhealth Group Inc. | 0.43% | 78,368 | $24.4M | Reduce -0.9% |
| CSCO Cisco Systems Inc. | 0.42% | 343,758 | $23.8M | Add +0.5% |
| GE General Electric filed as GE AEROSPACE | 0.42% | 92,136 | $23.7M | Reduce -0.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.42% | 80,337 | $23.7M | Add +1.1% |
| KO The Coca-Cola Co. | 0.42% | 334,695 | $23.7M | Add +0.6% |
| CRM Salesforce Inc. | 0.40% | 82,912 | $22.6M | Add +0.9% |
| WFC Wells Fargo & Co. | 0.40% | 281,281 | $22.5M | Reduce -0.5% |
| ABT Abbott Laboratories | 0.36% | 150,390 | $20.5M | Add +0.9% |
| CVX Chevron Corp. | 0.35% | 140,314 | $20.1M | Reduce -2.5% |
| AMD Advanced Micro Devices | 0.35% | 140,236 | $19.9M | Add +0.7% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.34% | 155,402 | $19.3M | Add +0.1% |
| LIN Linde PLC | 0.34% | 40,651 | $19.1M | Reduce -0.7% |
| INTU Intuit Inc. | 0.34% | 24,152 | $19.0M | Add +0.4% |
| GS Goldman Sachs Group Inc. | 0.33% | 26,530 | $18.8M | Reduce -1.1% |
| NOW ServiceNow Inc. | 0.32% | 17,877 | $18.4M | Add +1.1% |
| MCD McDonald's Corp. | 0.32% | 61,678 | $18.0M | Add +0.2% |
| T AT&T Inc. | 0.32% | 621,774 | $18.0M | Add +0.5% |
| MRK Merck & Co. Inc. | 0.30% | 216,971 | $17.2M | Reduce -0.2% |
| UBER Uber Technologies Inc. | 0.30% | 180,753 | $16.9M | Add +0.7% |
| RTX RTX Corp. | 0.30% | 115,474 | $16.9M | Add +0.9% |
| ISRG Intuitive Surgical Inc. | 0.30% | 30,971 | $16.8M | Add +1.0% |
| BKNG Booking Holdings Inc. | 0.29% | 2,850 | $16.5M | Add +0.3% |
| TXN Texas Instruments Inc. | 0.29% | 78,557 | $16.3M | Add +0.5% |
| ACN Accenture PLC Class A | 0.28% | 54,000 | $16.1M | Add +0.6% |
| CAT Caterpillar Inc. | 0.28% | 40,629 | $15.8M | Reduce -1.0% |
| VZ Verizon Communications Inc. | 0.28% | 364,272 | $15.8M | Add +0.4% |
| PEP Pepsico Inc. | 0.28% | 118,501 | $15.6M | Add +0.5% |
| AXP American Express Co. | 0.27% | 47,745 | $15.2M | Add +0.2% |
| QCOM Qualcomm Inc. | 0.27% | 94,815 | $15.1M | Reduce -0.2% |
| MS Morgan Stanley | 0.27% | 106,835 | $15.0M | Add +0.5% |
| SPGI S&P Global Inc. | 0.25% | 27,137 | $14.3M | Add +0.4% |
| ADBE Adobe Inc. | 0.25% | 36,766 | $14.2M | Reduce -1.6% |
| C Citigroup Inc. | 0.24% | 161,541 | $13.8M | Add +0.2% |
| BSX Boston Scientific Corp. | 0.24% | 127,839 | $13.7M | Add +0.9% |
| BA The Boeing Co. | 0.24% | 65,051 | $13.6M | Add +0.5% |
| PGR Progressive Corp. | 0.24% | 50,658 | $13.5M | Add +0.6% |
| SCHW Schwab (charles) Corp. | 0.24% | 147,692 | $13.5M | Add +0.9% |
| TMO Thermo Fisher Scientific Inc. | 0.23% | 32,622 | $13.2M | Reduce -0.6% |
| BLK BlackRock Inc. | 0.23% | 12,590 | $13.2M | Add +0.8% |
| AMGN Amgen Inc. | 0.23% | 46,418 | $13.0M | Add +0.7% |
| HON Honeywell International Inc. | 0.23% | 55,476 | $12.9M | Reduce -0.7% |
| AMAT Applied Materials Inc. | 0.23% | 70,216 | $12.9M | Add +0.6% |
| GEV GE Vernova Inc. | 0.22% | 23,643 | $12.5M | No change |
| NEE Nextera Energy Inc. | 0.22% | 177,967 | $12.4M | Add +0.7% |
| ETN Eaton Corp. PLC | 0.21% | 33,811 | $12.1M | Reduce -0.3% |
| GILD Gilead Sciences Inc. | 0.21% | 107,541 | $11.9M | Add +0.5% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.21% | 96,513 | $11.9M | Reduce -0.1% |
| PFE Pfizer Inc. | 0.21% | 491,309 | $11.9M | Add +0.9% |
| MU Micron Technology Inc. | 0.21% | 96,556 | $11.9M | Add +0.8% |
| UNP Union Pacific Corp. | 0.21% | 51,603 | $11.9M | Reduce -0.6% |
| COF Capital One Financial Corp. | 0.21% | 55,311 | $11.8M | Add +68.9% |
| SYK Stryker Corp. | 0.21% | 29,725 | $11.8M | Add +0.7% |
| PANW Palo Alto Networks Inc. | 0.21% | 57,163 | $11.7M | Add +0.5% |
| CMCSA Comcast Corp. Class A | 0.20% | 321,831 | $11.5M | Reduce -0.7% |
| DE Deere & Co. | 0.19% | 21,731 | $11.0M | No change |
| CHKP Check Point Software Tech | 0.19% | 49,830 | $11.0M | Add +4.3% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.19% | 21,565 | $11.0M | Add +1.9% |
| DHR Danaher Corp. | 0.19% | 55,037 | $10.9M | Add +0.2% |
| ADP Automatic Data Processing | 0.19% | 35,006 | $10.8M | Add +0.1% |
| LRCX Lam Research Corp. | 0.19% | 110,509 | $10.8M | Add +0.2% |
| LOW Lowe's Cos Inc. | 0.19% | 48,341 | $10.7M | Reduce -0.3% |
| APH Amphenol Corp. Class A | 0.18% | 104,538 | $10.3M | Add +0.5% |
| KLAC KLA Corp. | 0.18% | 11,423 | $10.2M | Add +0.4% |
| ADI Analog Devices Inc. | 0.18% | 42,804 | $10.2M | Add +0.5% |
| VRTX Vertex Pharmaceuticals Inc. | 0.17% | 22,184 | $9.9M | Add +0.5% |
| TMUS T-Mobile US Inc. | 0.17% | 41,158 | $9.8M | Reduce -0.1% |
| COP Conocophillips | 0.17% | 109,045 | $9.8M | Reduce -1.0% |
| MDT Medtronic PLC | 0.17% | 110,807 | $9.7M | Add +0.6% |
| BX Blackstone Inc. | 0.17% | 63,045 | $9.4M | Add +0.3% |
| CB Chubb Ltd. | 0.16% | 32,129 | $9.3M | Add +0.3% |
| MRSH Marsh & McLennan Cos | 0.16% | 42,543 | $9.3M | Add +0.7% |
| ANET Arista Networks Inc. | 0.16% | 89,046 | $9.1M | Add +0.3% |
| ICE Intercontinental Exchange Inc. | 0.16% | 49,555 | $9.1M | Reduce -0.2% |
Portfolio Sells Q1 2025 → Q2 2025
| OBDC Blue Owl Capital Corp. | Reduce -1.5% | 4.01% | −0.55 |
| UNH Unitedhealth Group Inc. | Reduce -0.9% | 0.43% | −0.37 |
| XOM Exxon Mobil Corp. | Reduce -0.5% | 0.71% | −0.15 |
| CVX Chevron Corp. | Reduce -2.5% | 0.35% | −0.11 |
| TMO Thermo Fisher Scientific Inc. | Reduce -0.6% | 0.23% | −0.08 |
| V Visa Inc. Class A | Reduce -0.1% | 0.93% | −0.08 |
| MRK Merck & Co. Inc. | Reduce -0.2% | 0.30% | −0.07 |
| DFS Discover Financial Services | Sold out | 0.00% | −0.07 |
| FISV Fiserv Inc. | Reduce -2.0% | 0.15% | −0.06 |
| COP Conocophillips | Reduce -1.0% | 0.17% | −0.05 |
| TMUS T-Mobile US Inc. | Reduce -0.1% | 0.17% | −0.04 |
| X United States Steel Corp. | Sold out | 0.00% | −0.04 |
| ELV Elevance Health Inc. | Reduce -2.0% | 0.13% | −0.03 |
| LIN Linde PLC | Reduce -0.7% | 0.34% | −0.03 |
| BERY Berry Global Group Inc. | Sold out | 0.00% | −0.03 |
| LOW Lowe's Cos Inc. | Reduce -0.3% | 0.19% | −0.03 |
| CMCSA Comcast Corp. Class A | Reduce -0.7% | 0.20% | −0.03 |
| SLB SLB Ltd. | Reduce -3.3% | 0.07% | −0.03 |
| REGN Regeneron Pharmaceuticals | Reduce -1.1% | 0.08% | −0.03 |
| UNP Union Pacific Corp. | Reduce -0.6% | 0.21% | −0.03 |
| ADBE Adobe Inc. | Reduce -1.6% | 0.25% | −0.03 |
| EOG EOG Resources Inc. | Reduce -2.7% | 0.10% | −0.02 |
| ORLY O'reilly Automotive Inc. | Reduce -0.7% | 0.12% | −0.02 |
| TJX TJX Companies Inc. | Reduce -0.1% | 0.21% | −0.02 |
| HES Hess Corp. | Reduce -1.9% | 0.06% | −0.02 |
| ZTS Zoetis Inc. | Reduce -0.3% | 0.11% | −0.02 |
| TRGP Targa Resources Corp. | Reduce -1.1% | 0.06% | −0.02 |
| QCOM Qualcomm Inc. | Reduce -0.2% | 0.27% | −0.02 |
| BKR Baker Hughes Co. | Reduce -0.6% | 0.06% | −0.02 |
| CI The Cigna Group | Reduce -2.1% | 0.13% | −0.02 |
| EXC Exelon Corp. | Reduce -4.0% | 0.07% | −0.01 |
| NOC Northrop Grumman Corp. | Reduce -1.2% | 0.10% | −0.01 |
| FDX FedEx Corp. | Reduce -0.5% | 0.08% | −0.01 |
| AFL Aflac Inc. | Reduce -1.2% | 0.08% | −0.01 |
| ED Consolidated Edison Inc. | Reduce -2.2% | 0.06% | −0.01 |
| LULU Lululemon Athletica Inc. | Reduce -1.0% | 0.04% | −0.01 |
| AZO AutoZone Inc. | Reduce -0.8% | 0.09% | −0.01 |
| AIG American International Group | Reduce -3.5% | 0.08% | −0.01 |
| GIS General Mills Inc. | Reduce -0.2% | 0.04% | −0.01 |
| PSX Phillips 66 | Reduce -1.9% | 0.07% | −0.01 |
| FANG Diamondback Energy Inc. | Reduce -1.2% | 0.04% | −0.01 |
| TGT Target Corp. | Reduce -0.5% | 0.07% | −0.01 |
| BRBR Bellring Brands Inc. | Reduce -0.4% | 0.03% | −0.01 |
| CHE Chemed Corp. | Reduce -3.3% | 0.03% | −0.01 |
| PDCO Patterson Cos Inc. | Sold out | 0.00% | −0.01 |
| DVN Devon Energy Corp. | Reduce -4.3% | 0.03% | −0.01 |
| GPN Global Payments Inc. | Reduce -0.9% | 0.03% | −0.01 |
| KHC The Kraft Heinz Co. | Reduce -0.5% | 0.03% | −0.01 |
| HAL Halliburton Co. | Reduce -0.4% | 0.03% | −0.01 |
| STZ Constellation Brands Inc. Class A | Reduce -1.5% | 0.04% | −0.01 |
Portfolio Buys Q1 2025 → Q2 2025
| NVDA Nvidia Corp. | Add +0.3% | 5.87% | +1.47 |
| MSFT Microsoft Corp. | Add +0.6% | 5.63% | +1.01 |
| AVGO Broadcom Inc. | Add +1.0% | 1.98% | +0.67 |
| NFLX Netflix Inc. | Add +0.0% | 0.87% | +0.21 |
| AMZN Amazon.com Inc. | Add +0.8% | 3.16% | +0.18 |
| ORCL Oracle Corp. | Add +0.9% | 0.54% | +0.17 |
| PLTR Palantir Technologies Inc. Class A | Add +4.4% | 0.44% | +0.15 |
| TSLA Tesla Inc. | Add +0.8% | 1.36% | +0.15 |
| COIN Coinbase Global Inc. Class A | New | 0.11% | +0.11 |
| COF Capital One Financial Corp. | Add +68.9% | 0.21% | +0.09 |
| JPM JPMorgan Chase & Co. | Add +0.0% | 1.23% | +0.09 |
| AMD Advanced Micro Devices | Add +0.7% | 0.35% | +0.07 |
| GOOGL Alphabet Inc. Class A | Add +0.4% | 1.56% | +0.07 |
| OKTA Okta Inc. | New | 0.06% | +0.06 |
| NOW ServiceNow Inc. | Add +1.1% | 0.32% | +0.05 |
| CEG Constellation Energy | Add +2.6% | 0.15% | +0.05 |
| APH Amphenol Corp. Class A | Add +0.5% | 0.18% | +0.05 |
| INTU Intuit Inc. | Add +0.4% | 0.34% | +0.05 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +1.9% | 0.19% | +0.05 |
| MU Micron Technology Inc. | Add +0.8% | 0.21% | +0.05 |
| UBER Uber Technologies Inc. | Add +0.7% | 0.30% | +0.04 |
| APG Api Group Corp. | New | 0.04% | +0.04 |
| DIS The Walt Disney Co. | Add +0.1% | 0.34% | +0.04 |
| BKNG Booking Holdings Inc. | Add +0.3% | 0.29% | +0.04 |
| IBM Intl Business Machines Corp. | Add +1.1% | 0.42% | +0.04 |
| RCL Royal Caribbean Cruises Ltd. | Add +1.9% | 0.12% | +0.04 |
| LRCX Lam Research Corp. | Add +0.2% | 0.19% | +0.03 |
| VST Vistra Corp. | Add +0.3% | 0.10% | +0.03 |
| KLAC KLA Corp. | Add +0.4% | 0.18% | +0.03 |
| AMAT Applied Materials Inc. | Add +0.6% | 0.23% | +0.03 |
| AXON Axon Enterprise Inc. | Add +3.2% | 0.09% | +0.03 |
| STRL Sterling Infrastructure Inc. | New | 0.03% | +0.03 |
| ANET Arista Networks Inc. | Add +0.3% | 0.16% | +0.03 |
| BA The Boeing Co. | Add +0.5% | 0.24% | +0.03 |
| DASH DoorDash Inc. Class A | Add +1.7% | 0.13% | +0.03 |
| MS Morgan Stanley | Add +0.5% | 0.27% | +0.03 |
| PWR Quanta Services Inc. | Add +0.8% | 0.09% | +0.02 |
| PM Philip Morris International | Add +0.7% | 0.43% | +0.02 |
| C Citigroup Inc. | Add +0.2% | 0.24% | +0.02 |
| AXP American Express Co. | Add +0.2% | 0.27% | +0.02 |
| FLEX Flex Ltd. | Add +0.9% | 0.07% | +0.02 |
| PANW Palo Alto Networks Inc. | Add +0.5% | 0.21% | +0.02 |
| JCI Johnson Controls Internation | Add +0.2% | 0.11% | +0.02 |
| AVAV Aerovironment Inc. | Add +1.6% | 0.03% | +0.02 |
| PEGA Pegasystems Inc. | New | 0.02% | +0.02 |
| STX Seagate Technology Holdings | Add +1.1% | 0.05% | +0.02 |
| IBKR Interactive Brokers Gro Class A | Add +1.3% | 0.09% | +0.02 |
| TXN Texas Instruments Inc. | Add +0.5% | 0.29% | +0.02 |
| SCHW Schwab (charles) Corp. | Add +0.9% | 0.24% | +0.02 |
| ATI Ati Inc. | Add +3.5% | 0.04% | +0.02 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,509 | $9.3B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q1 2026 | 1,510 | $7.6B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q4 2025 | 1,510 | $7.9B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q3 2025 | 1,510 | $7.7B | NVDA, MSFT, AAPL, AMZN, OBDC |
| Q2 2025 | 1,509 | $5.7B | NVDA, MSFT, AAPL, OBDC, AMZN |
| Q1 2025 | 1,509 | $5.2B | AAPL, MSFT, OBDC, NVDA, AMZN |
| Q4 2024 | 1,509 | $5.4B | AAPL, NVDA, MSFT, AMZN, OBDE |
| Q3 2024 | 1,511 | $5.3B | AAPL, MSFT, NVDA, OBDE, AMZN |
| Q2 2024 | 1,511 | $5.1B | MSFT, NVDA, AAPL, OBDE, AMZN |
| Q1 2024 | 1,511 | $5.0B | MSFT, AAPL, NVDA, OBDE, AMZN |