Oregon Public Employees Retirement Fund
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 24, 2025), Oregon Public Employees Retirement Fund reported 1,510 stock positions worth $7.7 billion. Its top holding was Nvidia (NVDA) at 6.8% of the portfolio, followed by Microsoft (MSFT, 5.7%) and Apple (AAPL, 5.6%). Compared with Q2 2025, it opened 26 new positions, sold out of 25, added to 686 and reduced 739. The biggest buy was Apple (AAPL, shares +31%) and the biggest sale Blue Owl Capital (OBDC, shares −5%).
- Most Recent 13F
- Q2 2026
- Location
- TIGARD, OR
- CIK
- 0001107314
- Portfolio Value
- $7.7B (Q3 2025)
- SEC Filing
- 0001213900-25-101793 ↗ filed Oct 24, 2025
Holdings Value
Holdings 1,510 stocks · $7.7B
| NVDA Nvidia Corp. | 6.77% | 2,789,023 | $520.4M | Add +32.3% |
| MSFT Microsoft Corp. | 5.73% | 849,570 | $440.0M | Add +32.3% |
| AAPL Apple Inc. | 5.62% | 1,696,315 | $431.9M | Add +31.4% |
| AMZN Amazon.com Inc. | 3.17% | 1,109,294 | $243.6M | Add +35.8% |
| OBDC Blue Owl Capital Corp. | 2.49% | 15,000,000 | $191.6M | Reduce -5.4% |
| META Meta Platforms Inc. Class A | 2.37% | 247,831 | $182.0M | Add +32.0% |
| AVGO Broadcom Inc. | 2.31% | 537,581 | $177.4M | Add +32.3% |
| GOOGL Alphabet Inc. Class A | 2.10% | 664,893 | $161.6M | Add +32.1% |
| TSLA Tesla Inc. | 1.86% | 320,689 | $142.6M | Add +32.4% |
| GOOG Alphabet Inc. Class C | 1.69% | 533,815 | $130.0M | Add +31.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.37% | 209,548 | $105.3M | Add +32.2% |
| JPM JPMorgan Chase & Co. | 1.29% | 314,275 | $99.1M | Add +30.8% |
| LLY Eli Lilly & Co. | 0.90% | 90,848 | $69.3M | Add +33.8% |
| V Visa Inc. Class A | 0.86% | 194,192 | $66.3M | Add +31.3% |
| NFLX Netflix Inc. | 0.76% | 48,538 | $58.2M | Add +31.9% |
| XOM Exxon Mobil Corp. | 0.72% | 487,295 | $54.9M | Add +30.8% |
| MA Mastercard Inc. Class A | 0.70% | 94,300 | $53.6M | Add +34.7% |
| ORCL Oracle Corp. | 0.69% | 189,473 | $53.3M | Add +34.8% |
| WMT Walmart Inc. | 0.67% | 501,741 | $51.7M | Add +34.4% |
| JNJ Johnson & Johnson | 0.66% | 275,313 | $51.0M | Add +32.4% |
| PLTR Palantir Technologies Inc. Class A | 0.62% | 259,931 | $47.4M | Add +41.4% |
| COST Costco Wholesale Corp. | 0.61% | 50,729 | $47.0M | Add +32.5% |
| ABBV Abbvie Inc. | 0.61% | 201,906 | $46.7M | Add +32.2% |
| HD Home Depot Inc. | 0.60% | 113,678 | $46.1M | Add +32.3% |
| PG The Procter & Gamble Co. | 0.54% | 267,763 | $41.1M | Add +32.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.52% | 778,903 | $40.2M | Add +37.5% |
| GE General Electric filed as GE AEROSPACE | 0.47% | 121,253 | $36.5M | Add +31.6% |
| UNH Unitedhealth Group Inc. | 0.47% | 103,508 | $35.7M | Add +32.1% |
| CVX Chevron Corp. | 0.44% | 220,003 | $34.2M | Add +56.8% |
| CSCO Cisco Systems Inc. | 0.40% | 452,551 | $31.0M | Add +31.6% |
| WFC Wells Fargo & Co. | 0.40% | 366,186 | $30.7M | Add +30.2% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.39% | 106,445 | $30.0M | Add +32.5% |
| AMD Advanced Micro Devices | 0.39% | 185,478 | $30.0M | Add +32.3% |
| KO The Coca-Cola Co. | 0.38% | 442,794 | $29.4M | Add +32.3% |
| PM Philip Morris International | 0.38% | 177,916 | $28.9M | Add +32.3% |
| GS Goldman Sachs Group Inc. | 0.36% | 34,552 | $27.5M | Add +30.2% |
| ABT Abbott Laboratories | 0.35% | 198,938 | $26.6M | Add +32.3% |
| CRM Salesforce Inc. | 0.34% | 109,261 | $25.9M | Add +31.8% |
| RTX RTX Corp. | 0.33% | 152,985 | $25.6M | Add +32.5% |
| CAT Caterpillar Inc. | 0.33% | 53,510 | $25.5M | Add +31.7% |
| LIN Linde PLC | 0.33% | 53,595 | $25.5M | Add +31.8% |
| MCD McDonald's Corp. | 0.32% | 81,576 | $24.8M | Add +32.3% |
| MRK Merck & Co. Inc. | 0.31% | 285,565 | $24.0M | Add +31.6% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.31% | 205,445 | $23.5M | Add +32.2% |
| UBER Uber Technologies Inc. | 0.30% | 238,329 | $23.3M | Add +31.9% |
| T AT&T Inc. | 0.30% | 817,293 | $23.1M | Add +31.4% |
| APP AppLovin Corp. Class A | 0.29% | 30,902 | $22.2M | New |
| MS Morgan Stanley | 0.29% | 138,741 | $22.1M | Add +29.9% |
| PEP Pepsico Inc. | 0.29% | 156,548 | $22.0M | Add +32.1% |
| NOW ServiceNow Inc. | 0.28% | 23,786 | $21.9M | Add +33.0% |
| INTU Intuit Inc. | 0.28% | 31,852 | $21.8M | Add +31.9% |
| MU Micron Technology Inc. | 0.28% | 127,930 | $21.4M | Add +32.5% |
| C Citigroup Inc. | 0.28% | 210,460 | $21.4M | Add +30.3% |
| VZ Verizon Communications Inc. | 0.28% | 481,905 | $21.2M | Add +32.3% |
| TMO Thermo Fisher Scientific Inc. | 0.27% | 43,104 | $20.9M | Add +32.1% |
| AXP American Express Co. | 0.27% | 62,032 | $20.6M | Add +29.9% |
| QCOM Qualcomm Inc. | 0.27% | 123,310 | $20.5M | Add +30.1% |
| BKNG Booking Holdings Inc. | 0.26% | 3,705 | $20.0M | Add +30.0% |
| LRCX Lam Research Corp. | 0.25% | 144,656 | $19.4M | Add +30.9% |
| BLK BlackRock Inc. | 0.25% | 16,435 | $19.2M | Add +30.5% |
| GEV GE Vernova Inc. | 0.25% | 31,100 | $19.1M | Add +31.5% |
| TXN Texas Instruments Inc. | 0.25% | 103,871 | $19.1M | Add +32.2% |
| AMAT Applied Materials Inc. | 0.24% | 91,755 | $18.8M | Add +30.7% |
| BA The Boeing Co. | 0.24% | 86,455 | $18.7M | Add +32.9% |
| SCHW Schwab (charles) Corp. | 0.24% | 195,018 | $18.6M | Add +32.0% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.24% | 127,505 | $18.4M | Add +32.1% |
| ISRG Intuitive Surgical Inc. | 0.24% | 40,956 | $18.3M | Add +32.2% |
| NEE Nextera Energy Inc. | 0.23% | 235,405 | $17.8M | Add +32.3% |
| ACN Accenture PLC Class A | 0.23% | 71,208 | $17.6M | Add +31.9% |
| AMGN Amgen Inc. | 0.23% | 61,590 | $17.4M | Add +32.7% |
| SPGI S&P Global Inc. | 0.23% | 35,685 | $17.4M | Add +31.5% |
| APH Amphenol Corp. Class A | 0.22% | 139,627 | $17.3M | Add +33.6% |
| ANET Arista Networks Inc. | 0.22% | 117,788 | $17.2M | Add +32.3% |
| ADBE Adobe Inc. | 0.22% | 48,433 | $17.1M | Add +31.7% |
| INTC Intel Corp. | 0.22% | 500,212 | $16.8M | Add +32.7% |
| ETN Eaton Corp. PLC | 0.22% | 44,475 | $16.6M | Add +31.5% |
| PGR Progressive Corp. | 0.22% | 67,056 | $16.6M | Add +32.4% |
| PFE Pfizer Inc. | 0.22% | 649,842 | $16.6M | Add +32.3% |
| BSX Boston Scientific Corp. | 0.22% | 169,332 | $16.5M | Add +32.5% |
| KLAC KLA Corp. | 0.21% | 15,025 | $16.2M | Add +31.5% |
| LOW Lowe's Cos Inc. | 0.21% | 64,052 | $16.1M | Add +32.5% |
| UNP Union Pacific Corp. | 0.21% | 67,761 | $16.0M | Add +31.3% |
| GILD Gilead Sciences Inc. | 0.20% | 141,776 | $15.7M | Add +31.8% |
| PANW Palo Alto Networks Inc. | 0.20% | 76,369 | $15.6M | Add +33.6% |
| COF Capital One Financial Corp. | 0.20% | 73,144 | $15.5M | Add +32.2% |
| HON Honeywell International Inc. | 0.20% | 72,579 | $15.3M | Add +30.8% |
| SYK Stryker Corp. | 0.19% | 39,271 | $14.5M | Add +32.1% |
| DHR Danaher Corp. | 0.19% | 72,827 | $14.4M | Add +32.3% |
| BX Blackstone Inc. | 0.19% | 84,258 | $14.4M | Add +33.6% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.18% | 28,513 | $14.0M | Add +32.2% |
| MDT Medtronic PLC | 0.18% | 146,518 | $14.0M | Add +32.2% |
| ADI Analog Devices Inc. | 0.18% | 56,708 | $13.9M | Add +32.5% |
| WELL Welltower Inc. | 0.18% | 76,500 | $13.6M | Add +42.6% |
| ADP Automatic Data Processing | 0.18% | 46,307 | $13.6M | Add +32.3% |
| COP Conocophillips | 0.18% | 142,780 | $13.5M | Add +30.9% |
| TMUS T-Mobile US Inc. | 0.17% | 55,340 | $13.2M | Add +34.5% |
| CMCSA Comcast Corp. Class A | 0.17% | 421,005 | $13.2M | Add +30.8% |
| DE Deere & Co. | 0.17% | 28,700 | $13.1M | Add +32.1% |
| MO Altria Group Inc. | 0.17% | 192,005 | $12.7M | Add +31.9% |
| HOOD Robinhood Markets Inc. Class A | 0.16% | 88,409 | $12.7M | New |
Portfolio Sells Q2 2025 → Q3 2025
| OBDC Blue Owl Capital Corp. | Reduce -5.4% | 2.49% | −1.51 |
| CHKP Check Point Software Tech | Reduce -1.0% | 0.13% | −0.06 |
| HES Hess Corp. | Sold out | 0.00% | −0.06 |
| ANSS Ansys Inc. | Sold out | 0.00% | −0.05 |
| EME Emcor Group Inc. | Reduce -45.5% | 0.04% | −0.04 |
| IBKR Interactive Brokers Gro Class A | Reduce -43.1% | 0.05% | −0.04 |
| SFM Sprouts Farmers Market Inc. | Reduce -1.5% | 0.03% | −0.03 |
| SKX Skechers USA Inc. Class A | Sold out | 0.00% | −0.03 |
| DUOL Duolingo | Reduce -0.3% | 0.03% | −0.02 |
| CSL Carlisle Cos Inc. | Reduce -3.0% | 0.04% | −0.02 |
| EQH Equitable Holdings Inc. | Reduce -2.4% | 0.04% | −0.02 |
| DT Dynatrace Inc. | Reduce -0.3% | 0.04% | −0.02 |
| RS Reliance Inc. | Reduce -1.5% | 0.04% | −0.02 |
| GWRE Guidewire Software Inc. | Reduce -0.8% | 0.05% | −0.02 |
| JNPR Juniper Networks Inc. | Sold out | 0.00% | −0.02 |
| OKTA Okta Inc. | Reduce -1.5% | 0.04% | −0.02 |
| BJ Bj's Wholesale Club Holdings | Reduce -1.9% | 0.03% | −0.02 |
| WSO Watsco Inc. | Reduce -2.5% | 0.04% | −0.02 |
| USFD US Foods Holding Corp. | Reduce -3.6% | 0.05% | −0.02 |
| DOCU Docusign Inc. | Reduce -1.2% | 0.04% | −0.02 |
| RBA RB Global Inc. | Reduce -1.3% | 0.05% | −0.02 |
| VNOM Viper Energy Inc. | Sold out | 0.00% | −0.02 |
| CRS Carpenter Technology | Reduce -1.5% | 0.03% | −0.02 |
| CHX Championx Corp. | Sold out | 0.00% | −0.02 |
| KD Kyndryl Holdings Inc. | Reduce -2.4% | 0.02% | −0.02 |
| GMS GMS Inc. | Sold out | 0.00% | −0.02 |
| AR Antero Resources Corp. | Reduce -1.2% | 0.03% | −0.02 |
| ILMN Illumina Inc. | Reduce -4.3% | 0.04% | −0.02 |
| TXRH Texas Roadhouse Inc. | Reduce -1.9% | 0.03% | −0.02 |
| EAT Brinker International Inc. | Reduce -2.0% | 0.02% | −0.02 |
| MORN Morningstar Inc. | Reduce -10.2% | 0.01% | −0.02 |
| WING Wingstop Inc. | Reduce -1.0% | 0.02% | −0.02 |
| GGG Graco Inc. | Reduce -2.3% | 0.04% | −0.01 |
| UNM Unum Group | Reduce -3.7% | 0.03% | −0.01 |
| ATI Ati Inc. | Reduce -3.8% | 0.03% | −0.01 |
| BRBR Bellring Brands Inc. | Reduce -2.3% | 0.01% | −0.01 |
| CNM Core & Main Inc. Class A | Reduce -1.6% | 0.03% | −0.01 |
| ATR Aptargroup Inc. | Reduce -1.8% | 0.02% | −0.01 |
| EXEL Exelixis Inc. | Reduce -2.9% | 0.03% | −0.01 |
| RGA Reinsurance Group of America | Reduce -2.1% | 0.03% | −0.01 |
| KNSL Kinsale Capital Group Inc. | Reduce -2.2% | 0.02% | −0.01 |
| XPO Xpo Inc. | Reduce -1.7% | 0.04% | −0.01 |
| BMI Badger Meter Inc. | Reduce -1.5% | 0.02% | −0.01 |
| CCK Crown Holdings Inc. | Reduce -1.7% | 0.03% | −0.01 |
| CASY Casey's General Stores Inc. | Reduce -1.3% | 0.05% | −0.01 |
| WWD Woodward Inc. | Reduce -1.3% | 0.04% | −0.01 |
| ARMK Aramark | Reduce -0.8% | 0.03% | −0.01 |
| ACI Albertsons Cos Inc. Class A | Reduce -1.1% | 0.02% | −0.01 |
| CW Curtiss-Wright Corp. | Reduce -1.3% | 0.05% | −0.01 |
| FLR Fluor Corp. | Reduce -3.3% | 0.02% | −0.01 |
Portfolio Buys Q2 2025 → Q3 2025
| AAPL Apple Inc. | Add +31.4% | 5.62% | +0.95 |
| NVDA Nvidia Corp. | Add +32.3% | 6.77% | +0.90 |
| GOOGL Alphabet Inc. Class A | Add +32.1% | 2.10% | +0.54 |
| TSLA Tesla Inc. | Add +32.4% | 1.86% | +0.50 |
| GOOG Alphabet Inc. Class C | Add +31.5% | 1.69% | +0.42 |
| AVGO Broadcom Inc. | Add +32.3% | 2.31% | +0.33 |
| APP AppLovin Corp. Class A | New | 0.29% | +0.29 |
| PLTR Palantir Technologies Inc. Class A | Add +41.4% | 0.62% | +0.18 |
| HOOD Robinhood Markets Inc. Class A | New | 0.16% | +0.16 |
| ORCL Oracle Corp. | Add +34.8% | 0.69% | +0.15 |
| ABBV Abbvie Inc. | Add +32.2% | 0.61% | +0.11 |
| JNJ Johnson & Johnson | Add +32.4% | 0.66% | +0.10 |
| MSFT Microsoft Corp. | Add +32.3% | 5.73% | +0.10 |
| CVX Chevron Corp. | Add +56.8% | 0.44% | +0.09 |
| INTC Intel Corp. | Add +32.7% | 0.22% | +0.07 |
| MU Micron Technology Inc. | Add +32.5% | 0.28% | +0.07 |
| DDOG Datadog Inc. Class A | New | 0.07% | +0.07 |
| ANET Arista Networks Inc. | Add +32.3% | 0.22% | +0.06 |
| JPM JPMorgan Chase & Co. | Add +30.8% | 1.29% | +0.06 |
| LRCX Lam Research Corp. | Add +30.9% | 0.25% | +0.06 |
| XYZ Block Inc. | New | 0.06% | +0.06 |
| GE General Electric | Add +31.6% | 0.47% | +0.06 |
| CAT Caterpillar Inc. | Add +31.7% | 0.33% | +0.05 |
| NTNX Nutanix Inc. Class A | New | 0.05% | +0.05 |
| TLN Talen Energy Corp. | New | 0.05% | +0.05 |
| BAC Bank of America Corp. | Add +37.5% | 0.52% | +0.05 |
| HD Home Depot Inc. | Add +32.3% | 0.60% | +0.04 |
| APH Amphenol Corp. Class A | Add +33.6% | 0.22% | +0.04 |
| TRU Transunion | New | 0.04% | +0.04 |
| FTI Technipfmc PLC | New | 0.04% | +0.04 |
| TWLO Twilio Inc. Class A | New | 0.04% | +0.04 |
| AMD Advanced Micro Devices | Add +32.3% | 0.39% | +0.04 |
| TMO Thermo Fisher Scientific Inc. | Add +32.1% | 0.27% | +0.04 |
| NEM Newmont Corp. | Add +30.5% | 0.14% | +0.04 |
| RTX RTX Corp. | Add +32.5% | 0.33% | +0.04 |
| C Citigroup Inc. | Add +30.3% | 0.28% | +0.04 |
| UNH Unitedhealth Group Inc. | Add +32.1% | 0.47% | +0.03 |
| GLW Corning Inc. | Add +33.9% | 0.10% | +0.03 |
| WBD Warner Bros Discovery Inc. | Add +45.5% | 0.07% | +0.03 |
| TTD Trade Desk Inc./the Class A | New | 0.03% | +0.03 |
| WELL Welltower Inc. | Add +42.6% | 0.18% | +0.03 |
| KLAC KLA Corp. | Add +31.5% | 0.21% | +0.03 |
| TJX TJX Companies Inc. | Add +32.1% | 0.24% | +0.03 |
| WMT Walmart Inc. | Add +34.4% | 0.67% | +0.03 |
| GEV GE Vernova Inc. | Add +31.5% | 0.25% | +0.03 |
| WDC Western Digital Corp. | Add +31.2% | 0.06% | +0.03 |
| STX Seagate Technology Holdings | Add +31.6% | 0.07% | +0.03 |
| GS Goldman Sachs Group Inc. | Add +30.2% | 0.36% | +0.03 |
| ELAN Elanco Animal Health Inc. | New | 0.03% | +0.03 |
| HL Hecla Mining Co. | New | 0.02% | +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 |