Oregon Public Employees Retirement Fund
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 4, 2026), Oregon Public Employees Retirement Fund reported 1,510 stock positions worth $7.9 billion. Its top holding was Nvidia (NVDA) at 6.6% of the portfolio, followed by Apple (AAPL, 5.8%) and Microsoft (MSFT, 5.2%). Compared with Q3 2025, it opened 22 new positions, sold out of 24, added to 737 and reduced 611. The biggest buy was Alphabet Class A (GOOGL, shares +0%) and the biggest sale Nvidia (NVDA, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- TIGARD, OR
- CIK
- 0001107314
- Portfolio Value
- $7.9B (Q4 2025)
- SEC Filing
- 0001213900-26-012275 ↗ filed Feb 4, 2026
Holdings Value
Holdings 1,510 stocks · $7.9B
| NVDA Nvidia Corp. | 6.60% | 2,782,700 | $519.0M | Reduce -0.2% |
| AAPL Apple Inc. | 5.85% | 1,692,115 | $460.0M | Reduce -0.3% |
| MSFT Microsoft Corp. | 5.23% | 851,177 | $411.6M | Add +0.2% |
| AMZN Amazon.com Inc. | 3.27% | 1,114,039 | $257.1M | Add +0.4% |
| GOOGL Alphabet Inc. Class A | 2.65% | 666,311 | $208.6M | Add +0.2% |
| AVGO Broadcom Inc. | 2.38% | 540,860 | $187.2M | Add +0.6% |
| OBDC Blue Owl Capital Corp. | 2.37% | 14,968,973 | $186.1M | Reduce -0.2% |
| GOOG Alphabet Inc. Class C | 2.13% | 532,558 | $167.1M | Reduce -0.2% |
| META Meta Platforms Inc. Class A | 2.09% | 249,459 | $164.7M | Add +0.7% |
| TSLA Tesla Inc. | 1.84% | 321,775 | $144.7M | Add +0.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.34% | 209,983 | $105.5M | Add +0.2% |
| JPM JPMorgan Chase & Co. | 1.28% | 311,734 | $100.4M | Reduce -0.8% |
| LLY Eli Lilly & Co. | 1.24% | 90,924 | $97.7M | Add +0.1% |
| V Visa Inc. Class A | 0.86% | 193,299 | $67.8M | Reduce -0.5% |
| XOM Exxon Mobil Corp. | 0.74% | 482,922 | $58.1M | Reduce -0.9% |
| JNJ Johnson & Johnson | 0.73% | 275,930 | $57.1M | Add +0.2% |
| WMT Walmart Inc. | 0.71% | 502,180 | $55.9M | Add +0.1% |
| MA Mastercard Inc. Class A | 0.68% | 93,900 | $53.6M | Reduce -0.4% |
| PLTR Palantir Technologies Inc. Class A | 0.59% | 261,631 | $46.5M | Add +0.7% |
| ABBV Abbvie Inc. | 0.59% | 202,406 | $46.2M | Add +0.3% |
| NFLX Netflix Inc. | 0.58% | 485,326 | $45.5M | No change |
| COST Costco Wholesale Corp. | 0.56% | 50,768 | $43.8M | Add +0.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.54% | 769,425 | $42.3M | Reduce -1.2% |
| AMD Advanced Micro Devices | 0.51% | 186,478 | $39.9M | Add +0.5% |
| HD Home Depot Inc. | 0.50% | 114,003 | $39.2M | Add +0.3% |
| PG The Procter & Gamble Co. | 0.49% | 267,661 | $38.4M | Reduce -0.0% |
| ORCL Oracle Corp. | 0.48% | 192,592 | $37.5M | Add +1.6% |
| GE General Electric filed as GE AEROSPACE | 0.47% | 120,813 | $37.2M | Reduce -0.4% |
| MU Micron Technology Inc. | 0.47% | 128,612 | $36.7M | Add +0.5% |
| CSCO Cisco Systems Inc. | 0.44% | 451,351 | $34.8M | Reduce -0.3% |
| UNH Unitedhealth Group Inc. | 0.44% | 103,694 | $34.2M | Add +0.2% |
| WFC Wells Fargo & Co. | 0.43% | 359,500 | $33.5M | Reduce -1.8% |
| CVX Chevron Corp. | 0.42% | 216,803 | $33.0M | Reduce -1.4% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.40% | 107,052 | $31.7M | Add +0.6% |
| KO The Coca-Cola Co. | 0.39% | 443,394 | $31.0M | Add +0.1% |
| CAT Caterpillar Inc. | 0.39% | 53,537 | $30.7M | Add +0.1% |
| GS Goldman Sachs Group Inc. | 0.38% | 34,315 | $30.2M | Reduce -0.7% |
| MRK Merck & Co. Inc. | 0.38% | 284,228 | $29.9M | Reduce -0.5% |
| CRM Salesforce Inc. | 0.37% | 109,061 | $28.9M | Reduce -0.2% |
| PM Philip Morris International | 0.36% | 178,237 | $28.6M | Add +0.2% |
| RTX RTX Corp. | 0.36% | 153,507 | $28.2M | Add +0.3% |
| ABT Abbott Laboratories | 0.32% | 199,138 | $24.9M | Add +0.1% |
| MCD McDonald's Corp. | 0.32% | 81,576 | $24.9M | No change |
| TMO Thermo Fisher Scientific Inc. | 0.32% | 42,977 | $24.9M | Reduce -0.3% |
| LRCX Lam Research Corp. | 0.31% | 143,856 | $24.6M | Reduce -0.6% |
| MS Morgan Stanley | 0.31% | 138,341 | $24.6M | Reduce -0.3% |
| C Citigroup Inc. | 0.30% | 204,884 | $23.9M | Reduce -2.6% |
| AMAT Applied Materials Inc. | 0.30% | 91,180 | $23.4M | Reduce -0.6% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.30% | 204,445 | $23.3M | Reduce -0.5% |
| ISRG Intuitive Surgical Inc. | 0.29% | 40,628 | $23.0M | Reduce -0.8% |
| LIN Linde PLC | 0.29% | 53,471 | $22.8M | Reduce -0.2% |
| AXP American Express Co. | 0.29% | 61,569 | $22.8M | Reduce -0.8% |
| PEP Pepsico Inc. | 0.29% | 156,597 | $22.5M | Add +0.0% |
| INTU Intuit Inc. | 0.27% | 31,925 | $21.1M | Add +0.2% |
| QCOM Qualcomm Inc. | 0.27% | 122,674 | $21.0M | Reduce -0.5% |
| APP AppLovin Corp. Class A | 0.27% | 30,982 | $20.9M | Add +0.3% |
| GEV GE Vernova Inc. | 0.26% | 31,056 | $20.3M | Reduce -0.1% |
| AMGN Amgen Inc. | 0.26% | 61,661 | $20.2M | Add +0.1% |
| T AT&T Inc. | 0.26% | 811,993 | $20.2M | Reduce -0.7% |
| BKNG Booking Holdings Inc. | 0.25% | 3,691 | $19.8M | Reduce -0.4% |
| VZ Verizon Communications Inc. | 0.25% | 482,905 | $19.7M | Add +0.2% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.25% | 127,505 | $19.6M | No change |
| BA The Boeing Co. | 0.25% | 89,655 | $19.5M | Add +3.7% |
| UBER Uber Technologies Inc. | 0.25% | 238,012 | $19.4M | Reduce -0.1% |
| NEE Nextera Energy Inc. | 0.24% | 238,605 | $19.2M | Add +1.4% |
| SCHW Schwab (charles) Corp. | 0.24% | 191,318 | $19.1M | Reduce -1.9% |
| ACN Accenture PLC Class A | 0.24% | 70,985 | $19.0M | Reduce -0.3% |
| APH Amphenol Corp. Class A | 0.24% | 140,227 | $19.0M | Add +0.4% |
| INTC Intel Corp. | 0.24% | 513,512 | $18.9M | Add +2.7% |
| SPGI S&P Global Inc. | 0.24% | 35,535 | $18.6M | Reduce -0.4% |
| KLAC KLA Corp. | 0.23% | 15,046 | $18.3M | Add +0.1% |
| NOW ServiceNow Inc. | 0.23% | 118,825 | $18.2M | No change |
| TXN Texas Instruments Inc. | 0.23% | 104,071 | $18.1M | Add +0.2% |
| BLK BlackRock Inc. | 0.22% | 16,488 | $17.6M | Add +0.3% |
| COF Capital One Financial Corp. | 0.22% | 72,782 | $17.6M | Reduce -0.5% |
| GILD Gilead Sciences Inc. | 0.22% | 142,076 | $17.4M | Add +0.2% |
| ADBE Adobe Inc. | 0.21% | 47,959 | $16.8M | Reduce -1.0% |
| DHR Danaher Corp. | 0.21% | 71,943 | $16.5M | Reduce -1.2% |
| PFE Pfizer Inc. | 0.21% | 651,242 | $16.2M | Add +0.2% |
| BSX Boston Scientific Corp. | 0.21% | 169,732 | $16.2M | Add +0.2% |
| UNP Union Pacific Corp. | 0.20% | 67,915 | $15.7M | Add +0.2% |
| ANET Arista Networks Inc. | 0.20% | 118,264 | $15.5M | Add +0.4% |
| LOW Lowe's Cos Inc. | 0.20% | 64,252 | $15.5M | Add +0.3% |
| PGR Progressive Corp. | 0.19% | 67,134 | $15.3M | Add +0.1% |
| ADI Analog Devices Inc. | 0.19% | 56,294 | $15.3M | Reduce -0.7% |
| WELL Welltower Inc. | 0.19% | 78,635 | $14.6M | Add +2.8% |
| PANW Palo Alto Networks Inc. | 0.18% | 78,346 | $14.4M | Add +2.6% |
| HON Honeywell International Inc. | 0.18% | 72,665 | $14.2M | Add +0.1% |
| ETN Eaton Corp. PLC | 0.18% | 44,475 | $14.2M | No change |
| MDT Medtronic PLC | 0.18% | 146,895 | $14.1M | Add +0.3% |
| SYK Stryker Corp. | 0.18% | 39,395 | $13.8M | Add +0.3% |
| PLD Prologis Inc. | 0.17% | 106,313 | $13.6M | Add +0.2% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.17% | 28,732 | $13.5M | Add +0.8% |
| DE Deere & Co. | 0.17% | 28,800 | $13.4M | Add +0.3% |
| COP Conocophillips | 0.17% | 141,580 | $13.3M | Reduce -0.8% |
| VRTX Vertex Pharmaceuticals Inc. | 0.17% | 29,044 | $13.2M | Reduce -0.8% |
| CB Chubb Ltd. | 0.17% | 41,899 | $13.1M | Reduce -1.0% |
| BX Blackstone Inc. | 0.17% | 84,558 | $13.0M | Add +0.4% |
| PH Parker Hannifin Corp. | 0.16% | 14,429 | $12.7M | Reduce -0.5% |
| CEG Constellation Energy | 0.16% | 35,757 | $12.6M | Add +0.1% |
Portfolio Sells Q3 2025 → Q4 2025
| NVDA Nvidia Corp. | Reduce -0.2% | 6.60% | −0.17 |
| OBDC Blue Owl Capital Corp. | Reduce -0.2% | 2.37% | −0.13 |
| UBER Uber Technologies Inc. | Reduce -0.1% | 0.25% | −0.06 |
| FISV Fiserv Inc. | Reduce -1.0% | 0.05% | −0.05 |
| PG The Procter & Gamble Co. | Reduce -0.0% | 0.49% | −0.05 |
| T AT&T Inc. | Reduce -0.7% | 0.26% | −0.04 |
| LIN Linde PLC | Reduce -0.2% | 0.29% | −0.04 |
| COOP Mr Cooper Group Inc. | Sold out | 0.00% | −0.04 |
| K Kellanova | Sold out | 0.00% | −0.03 |
| TMUS T-Mobile US Inc. | Reduce -0.5% | 0.14% | −0.03 |
| FIX Comfort Systems USA Inc. | Reduce -43.5% | 0.05% | −0.03 |
| ADP Automatic Data Processing | Reduce -0.1% | 0.15% | −0.03 |
| AZO AutoZone Inc. | Reduce -0.3% | 0.08% | −0.02 |
| CVX Chevron Corp. | Reduce -1.4% | 0.42% | −0.02 |
| ORLY O'reilly Automotive Inc. | Reduce -0.3% | 0.11% | −0.02 |
| MDLZ Mondelez International Inc. Class A | Reduce -0.1% | 0.10% | −0.02 |
| LNWO Light & Wonder Inc. | Sold out | 0.00% | −0.02 |
| SNV Synovus Financial Corp. | Sold out | 0.00% | −0.02 |
| NTNX Nutanix Inc. Class A | Reduce -0.4% | 0.04% | −0.02 |
| MA Mastercard Inc. Class A | Reduce -0.4% | 0.68% | −0.02 |
| MPC Marathon Petroleum Corp. | Reduce -1.1% | 0.07% | −0.02 |
| ZTS Zoetis Inc. | Reduce -0.6% | 0.08% | −0.02 |
| DUOL Duolingo | Reduce -0.4% | 0.02% | −0.02 |
| PYPL PayPal Holdings Inc. | Reduce -1.9% | 0.08% | −0.02 |
| P Everpure Inc. Class A | Reduce -0.8% | 0.05% | −0.02 |
| MRSH Marsh & McLennan Cos | Reduce -0.4% | 0.13% | −0.02 |
| IPG Interpublic Group of Cos Inc. | Sold out | 0.00% | −0.02 |
| TT Trane Technologies PLC | Reduce -0.3% | 0.13% | −0.01 |
| CMCSA Comcast Corp. Class A | Reduce -1.1% | 0.16% | −0.01 |
| HIMS Hims & Hers Health Inc. | Reduce -0.5% | 0.02% | −0.01 |
| ACM Aecom | Reduce -1.0% | 0.03% | −0.01 |
| JPM JPMorgan Chase & Co. | Reduce -0.8% | 1.28% | −0.01 |
| DHI D.R. Horton Inc. | Reduce -0.9% | 0.06% | −0.01 |
| CHTR Charter Communications Inc. Class A | Reduce -4.7% | 0.03% | −0.01 |
| NOC Northrop Grumman Corp. | Reduce -0.6% | 0.11% | −0.01 |
| CTAS Cintas Corp. | Reduce -0.1% | 0.09% | −0.01 |
| DOCS Doximity Inc. Class A | Reduce -0.4% | 0.02% | −0.01 |
| SHW The Sherwin-Williams Co. | Reduce -0.4% | 0.11% | −0.01 |
| DIS The Walt Disney Co. | Reduce -0.5% | 0.30% | −0.01 |
| LEN Lennar Corp. Class A | Reduce -5.0% | 0.03% | −0.01 |
| CARR Carrier Global Corp. | Reduce -0.9% | 0.06% | −0.01 |
| ALE Allete Inc. | Sold out | 0.00% | −0.01 |
| ADSK Autodesk Inc. | Reduce -0.3% | 0.09% | −0.01 |
| ICE Intercontinental Exchange Inc. | Reduce -0.3% | 0.13% | −0.01 |
| BKNG Booking Holdings Inc. | Reduce -0.4% | 0.25% | −0.01 |
| ADBE Adobe Inc. | Reduce -1.0% | 0.21% | −0.01 |
| DELL Dell Technologies -C | Reduce -0.7% | 0.06% | −0.01 |
| EFX Equifax Inc. | Reduce -1.1% | 0.04% | −0.01 |
| LMT Lockheed Martin Corp. | Reduce -0.3% | 0.14% | −0.01 |
| GME Gamestop Corp. Class A | Reduce -1.2% | 0.02% | −0.01 |
Portfolio Buys Q3 2025 → Q4 2025
| GOOGL Alphabet Inc. Class A | Add +0.2% | 2.65% | +0.55 |
| LLY Eli Lilly & Co. | Add +0.1% | 1.24% | +0.34 |
| MU Micron Technology Inc. | Add +0.5% | 0.47% | +0.19 |
| CRH CRH PLC | New | 0.12% | +0.12 |
| AMD Advanced Micro Devices | Add +0.5% | 0.51% | +0.12 |
| AMZN Amazon.com Inc. | Add +0.4% | 3.27% | +0.10 |
| CVNA Carvana Co. | New | 0.09% | +0.09 |
| AVGO Broadcom Inc. | Add +0.6% | 2.38% | +0.07 |
| JNJ Johnson & Johnson | Add +0.2% | 0.73% | +0.06 |
| CAT Caterpillar Inc. | Add +0.1% | 0.39% | +0.06 |
| ARES Ares Management Corp. Class A | New | 0.05% | +0.05 |
| PINS Pinterest Inc. Class A | New | 0.04% | +0.04 |
| WMT Walmart Inc. | Add +0.1% | 0.71% | +0.04 |
| LITE Lumentum Holdings Inc. | Add +0.4% | 0.07% | +0.04 |
| WBD Warner Bros Discovery Inc. | Add +0.3% | 0.10% | +0.03 |
| AMGN Amgen Inc. | Add +0.1% | 0.26% | +0.03 |
| COHR Coherent Corp. | Add +0.1% | 0.07% | +0.03 |
| BAH Booz Allen Hamilton Holdings | New | 0.03% | +0.03 |
| RTX RTX Corp. | Add +0.3% | 0.36% | +0.02 |
| BMY Bristol-Myers Squibb Co. | Add +0.3% | 0.16% | +0.02 |
| FCX Freeport-McMoran Inc. | Add +0.2% | 0.11% | +0.02 |
| INTC Intel Corp. | Add +2.7% | 0.24% | +0.02 |
| KLAC KLA Corp. | Add +0.1% | 0.23% | +0.02 |
| CRBG Corebridge Financial Inc. | New | 0.02% | +0.02 |
| PRIM Primoris Services Corp. | New | 0.02% | +0.02 |
| CWST Casella Waste Systems Inc. Class A | New | 0.02% | +0.02 |
| PTCT PTC Therapeutics Inc. | New | 0.02% | +0.02 |
| PATH Uipath Inc. Class A | New | 0.02% | +0.02 |
| PNFP Pinnacle Financial Partners | Add +92.5% | 0.04% | +0.02 |
| GILD Gilead Sciences Inc. | Add +0.2% | 0.22% | +0.02 |
| CMI Cummins Inc. | Add +1.1% | 0.10% | +0.02 |
| APH Amphenol Corp. Class A | Add +0.4% | 0.24% | +0.02 |
| FDX FedEx Corp. | Add +0.4% | 0.09% | +0.02 |
| UPS United Parcel Service Class B | Add +0.6% | 0.11% | +0.02 |
| ULS Ul Solutions Inc. Class A | New | 0.01% | +0.01 |
| BSY Bentley Systems Inc. Class B | New | 0.01% | +0.01 |
| PLD Prologis Inc. | Add +0.2% | 0.17% | +0.01 |
| OMC Omnicom Group | Add +65.1% | 0.04% | +0.01 |
| INDV Indivior Ltd. | New | 0.01% | +0.01 |
| STX Seagate Technology Holdings | Add +2.9% | 0.09% | +0.01 |
| ARWR Arrowhead Pharmaceuticals Inc. | Add +1.4% | 0.03% | +0.01 |
| BTSG Brightspring Health Services | New | 0.01% | +0.01 |
| IBM Intl Business Machines Corp. | Add +0.6% | 0.40% | +0.01 |
| NEE Nextera Energy Inc. | Add +1.4% | 0.24% | +0.01 |
| KO The Coca-Cola Co. | Add +0.1% | 0.39% | +0.01 |
| RGLD Royal Gold Inc. | Add +21.4% | 0.05% | +0.01 |
| SOLS Solstice Adv Materials Inc. | Add +100.1% | 0.02% | +0.01 |
| LKQ LKQ Corp. | Add +99.6% | 0.02% | +0.01 |
| DAL Delta Air Lines Inc. | Add +0.1% | 0.07% | +0.01 |
| EMN Eastman Chemical Co. | Add +99.1% | 0.02% | +0.01 |
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 |