Public Employees Retirement Association of Colorado
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 12, 2025), Public Employees Retirement Association of Colorado reported 1,906 stock positions worth $23.4 billion. Its top holding was Apple (AAPL) at 6.9% of the portfolio, followed by Microsoft (MSFT, 5.9%) and Nvidia (NVDA, 5.7%). Compared with Q4 2024, it opened 18 new positions, sold out of 39, added to 68 and reduced 303. The biggest buy was Netflix (NFLX, shares +251%) and the biggest sale Nvidia (NVDA, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- DENVER, CO
- CIK
- 0000315297
- Portfolio Value
- $23.4B (Q1 2025)
- SEC Filing
- 0000315297-25-000005 ↗ filed May 12, 2025
Holdings Value
Holdings 1,906 stocks · $23.4B
| AAPL Apple Inc. | 6.90% | 7,281,253 | $1.6B | Reduce -1.1% |
| MSFT Microsoft Corp. | 5.86% | 3,661,480 | $1.4B | Reduce -0.2% |
| NVDA Nvidia Corp. | 5.75% | 12,437,551 | $1.3B | Reduce -0.3% |
| AMZN Amazon.com Inc. | 4.55% | 5,607,533 | $1.1B | Reduce -0.2% |
| GOOGL Alphabet Inc. Class A | 3.54% | 5,375,040 | $831.2M | Reduce -2.4% |
| META Meta Platforms Inc. Class A | 3.11% | 1,266,587 | $730.0M | Add +3.2% |
| V Visa Inc. Class A | 2.23% | 1,490,356 | $522.3M | Add +0.3% |
| JPM JPMorgan Chase & Co. | 1.91% | 1,824,580 | $447.6M | Reduce -0.4% |
| COST Costco Wholesale Corp. | 1.79% | 442,552 | $418.6M | Reduce -4.5% |
| WMT Walmart Inc. | 1.65% | 4,395,734 | $385.9M | Reduce -0.1% |
| XOM Exxon Mobil Corp. | 1.47% | 2,895,258 | $344.3M | Reduce -0.5% |
| UNH Unitedhealth Group Inc. | 1.41% | 629,361 | $329.6M | Reduce -24.8% |
| BLK BlackRock Inc. | 1.30% | 321,712 | $304.5M | Add +12.2% |
| CRM Salesforce Inc. | 1.21% | 1,059,734 | $284.4M | Reduce -0.1% |
| AXP American Express Co. | 1.20% | 1,050,015 | $282.5M | Add +13.3% |
| ORCL Oracle Corp. | 1.18% | 1,974,385 | $276.0M | Reduce -0.1% |
| WCN Waste Connections Inc. | 1.10% | 1,318,614 | $257.4M | Reduce -0.1% |
| TSLA Tesla Inc. | 0.96% | 868,131 | $225.0M | Reduce -0.1% |
| ACCENTURE PLC | 0.95% | 711,324 | $222.0M | Reduce -0.1% |
| LINDE PLC | 0.94% | 471,868 | $219.7M | Reduce -11.6% |
| MS Morgan Stanley | 0.94% | 1,879,134 | $219.2M | Add +5.5% |
| MA Mastercard Inc. Class A | 0.91% | 388,654 | $213.0M | Reduce -0.4% |
| AVGO Broadcom Inc. | 0.90% | 1,264,085 | $211.6M | Reduce -0.1% |
| VRTX Vertex Pharmaceuticals Inc. | 0.86% | 418,120 | $202.7M | Reduce -0.1% |
| ICE Intercontinental Exchange Inc. | 0.85% | 1,160,978 | $200.3M | Reduce -10.2% |
| ZTS Zoetis Inc. | 0.83% | 1,185,555 | $195.2M | Reduce -0.1% |
| PG The Procter & Gamble Co. | 0.80% | 1,105,345 | $188.4M | Reduce -0.2% |
| NFLX Netflix Inc. | 0.80% | 201,757 | $188.1M | Add +250.5% |
| ABT Abbott Laboratories | 0.79% | 1,400,799 | $185.8M | Add +2.9% |
| HD Home Depot Inc. | 0.77% | 494,705 | $181.3M | Reduce -0.2% |
| CHUBB LTD | 0.74% | 574,448 | $173.5M | Add +44.4% |
| SHW The Sherwin-Williams Co. | 0.67% | 451,501 | $157.7M | Reduce -9.5% |
| ORLY O'reilly Automotive Inc. | 0.67% | 109,607 | $157.0M | Reduce -12.0% |
| EOG EOG Resources Inc. | 0.66% | 1,204,866 | $154.5M | Reduce -0.1% |
| GE General Electric filed as GE AEROSPACE | 0.65% | 756,523 | $151.4M | Add +14.6% |
| MRK Merck & Co. Inc. | 0.62% | 1,612,337 | $144.7M | Reduce -29.7% |
| TMO Thermo Fisher Scientific Inc. | 0.59% | 276,374 | $137.5M | Reduce -0.2% |
| MELI MercadoLibre Inc. | 0.57% | 68,775 | $134.2M | Reduce -0.0% |
| BSX Boston Scientific Corp. | 0.56% | 1,307,551 | $131.9M | Reduce -18.4% |
| TXN Texas Instruments Inc. | 0.54% | 698,306 | $125.5M | Reduce -0.2% |
| TSM Taiwan Semiconductor-SP ADR | 0.53% | 754,800 | $125.3M | No change |
| APH Amphenol Corp. Class A | 0.51% | 1,837,652 | $120.5M | Reduce -0.2% |
| GM General Motors Co. | 0.49% | 2,454,082 | $115.4M | Reduce -13.2% |
| NXPI NXP Semiconductors NV | 0.47% | 584,616 | $111.1M | Reduce -0.2% |
| KLAC KLA Corp. | 0.47% | 162,308 | $110.3M | Reduce -0.2% |
| EMR Emerson Electric Co. | 0.44% | 951,043 | $104.3M | Add +1131.9% |
| GOOG Alphabet Inc. Class C | 0.44% | 665,817 | $104.0M | Reduce -1.4% |
| NSC Norfolk Southern Corp. | 0.43% | 423,341 | $100.3M | Reduce -0.2% |
| ALC Alcon Inc. filed as ALCON AG | 0.42% | 1,039,675 | $98.7M | Reduce -0.2% |
| DHR Danaher Corp. | 0.41% | 473,728 | $97.1M | Reduce -17.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.40% | 176,520 | $94.0M | Reduce -0.3% |
| SBUX Starbucks Corp. | 0.39% | 931,028 | $91.3M | Reduce -0.2% |
| LLY Eli Lilly & Co. | 0.38% | 107,751 | $89.0M | Reduce -0.8% |
| MSCI MSCI Inc. | 0.38% | 156,403 | $88.4M | Reduce -37.0% |
| Johnson Controls International | 0.34% | 1,004,656 | $80.5M | Reduce -0.2% |
| Eaton Corp PLC | 0.34% | 292,153 | $79.4M | Reduce -0.2% |
| CSL Carlisle Cos Inc. | 0.33% | 230,195 | $78.4M | Reduce -1.5% |
| CTAS Cintas Corp. | 0.32% | 365,384 | $75.1M | Reduce -0.2% |
| GD General Dynamics Corp. | 0.32% | 274,584 | $74.8M | Reduce -0.2% |
| CRH CRH PLC-Sponsored ADR | 0.30% | 812,659 | $71.5M | Reduce -0.2% |
| MAR Marriott International Class A | 0.29% | 289,291 | $68.9M | Reduce -0.2% |
| VRSK Verisk Analytics Inc. | 0.28% | 223,497 | $66.5M | Reduce -0.2% |
| CMG Chipotle Mexican Grill Inc. | 0.28% | 1,298,515 | $65.2M | Reduce -0.9% |
| PLD Prologis Inc. | 0.28% | 582,855 | $65.2M | Reduce -0.0% |
| MRVL Marvell Technology Inc. | 0.27% | 1,018,188 | $62.7M | Reduce -0.2% |
| ADBE Adobe Inc. | 0.27% | 162,668 | $62.4M | Reduce -0.8% |
| EQIX Equinix Inc. | 0.26% | 73,646 | $60.0M | Reduce -47.2% |
| IQV Iqvia Holdings Inc. | 0.23% | 308,523 | $54.4M | Reduce -0.2% |
| JNJ Johnson & Johnson | 0.23% | 318,544 | $52.8M | Reduce -1.0% |
| RGA Reinsurance Group of America | 0.22% | 263,462 | $51.9M | Reduce -9.2% |
| ABBV Abbvie Inc. | 0.21% | 237,000 | $49.7M | Reduce -0.1% |
| DHI D.R. Horton Inc. | 0.20% | 374,620 | $47.6M | Reduce -0.2% |
| HDB HDFC Bank Ltd.-ADR | 0.18% | 644,420 | $42.8M | No change |
| KO The Coca-Cola Co. | 0.17% | 547,464 | $39.2M | Reduce -0.2% |
| CVX Chevron Corp. | 0.16% | 229,698 | $38.4M | Reduce -1.6% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.16% | 911,566 | $38.0M | Reduce -2.4% |
| TTWO Take-Two Interactive Softwre | 0.16% | 176,965 | $36.7M | No change |
| TRNO Terreno Realty Corp. | 0.15% | 571,064 | $36.1M | No change |
| TRGP Targa Resources Corp. | 0.15% | 178,438 | $35.8M | Reduce -22.7% |
| CW Curtiss-Wright Corp. | 0.15% | 112,727 | $35.8M | Reduce -3.9% |
| PM Philip Morris International | 0.14% | 210,356 | $33.4M | Reduce -0.2% |
| ITGR Integer Holdings Corp. | 0.14% | 282,065 | $33.3M | No change |
| CSCO Cisco Systems Inc. | 0.14% | 531,783 | $32.8M | Reduce -0.2% |
| COKE Coca-Cola Consolidated Inc. | 0.14% | 23,966 | $32.4M | Reduce -4.8% |
| CBRE CBRE Group Inc. Class A | 0.14% | 246,552 | $32.2M | No change |
| RBC RBC Bearings Inc. | 0.14% | 99,957 | $32.2M | Reduce -10.8% |
| BR Broadridge Financial Solutio | 0.14% | 132,140 | $32.0M | No change |
| ARMK Aramark | 0.14% | 918,910 | $31.7M | No change |
| LYV Live Nation Entertainment Inc. | 0.14% | 242,574 | $31.7M | No change |
| BRO Brown & Brown Inc. | 0.13% | 254,091 | $31.6M | Add +35.7% |
| ATO Atmos Energy Corp. | 0.13% | 203,619 | $31.5M | No change |
| WFC Wells Fargo & Co. | 0.13% | 438,366 | $31.5M | Reduce -3.9% |
| FICO Fair Isaac Corp. | 0.13% | 17,035 | $31.4M | No change |
| USFD US Foods Holding Corp. | 0.13% | 479,064 | $31.4M | No change |
| HLI Houlihan Lokey Inc. | 0.13% | 193,246 | $31.2M | No change |
| ESE Esco Technologies Inc. | 0.13% | 194,910 | $31.0M | Reduce -8.4% |
| CMS CMS Energy Corp. | 0.13% | 411,937 | $30.9M | Add +19.2% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.13% | 123,863 | $30.8M | Reduce -0.1% |
| ACIW Aci Worldwide Inc. | 0.13% | 559,734 | $30.6M | No change |
| TYL Tyler Technologies Inc. | 0.13% | 51,985 | $30.2M | No change |
Portfolio Sells Q4 2024 → Q1 2025
| NVDA Nvidia Corp. | Reduce -0.3% | 5.75% | −0.90 |
| GOOGL Alphabet Inc. Class A | Reduce -2.4% | 3.54% | −0.59 |
| TSLA Tesla Inc. | Reduce -0.1% | 0.96% | −0.43 |
| AAPL Apple Inc. | Reduce -1.1% | 6.90% | −0.42 |
| AMZN Amazon.com Inc. | Reduce -0.2% | 4.55% | −0.34 |
| MRK Merck & Co. Inc. | Reduce -29.7% | 0.62% | −0.29 |
| MSFT Microsoft Corp. | Reduce -0.2% | 5.86% | −0.28 |
| UNH Unitedhealth Group Inc. | Reduce -24.8% | 1.41% | −0.28 |
| EQIX Equinix Inc. | Reduce -47.2% | 0.26% | −0.27 |
| AVGO Broadcom Inc. | Reduce -0.1% | 0.90% | −0.26 |
| MSCI MSCI Inc. | Reduce -37.0% | 0.38% | −0.21 |
| MCHP Microchip Technology Inc. | Reduce -73.1% | 0.07% | −0.20 |
| CRM Salesforce Inc. | Reduce -0.1% | 1.21% | −0.20 |
| IEX Idex Corp. | Reduce -67.9% | 0.08% | −0.18 |
| MRVL Marvell Technology Inc. | Reduce -0.2% | 0.27% | −0.18 |
| ORCL Oracle Corp. | Reduce -0.1% | 1.18% | −0.13 |
| DHR Danaher Corp. | Reduce -17.4% | 0.41% | −0.11 |
| GM General Motors Co. | Reduce -13.2% | 0.49% | −0.11 |
| FRPT Freshpet Inc. | Reduce -37.8% | 0.05% | −0.08 |
| AZPN Aspen Technology Inc. | Sold out | 0.00% | −0.07 |
| ALLEGION PLC | Sold out | 0.00% | −0.07 |
| GOOG Alphabet Inc. Class C | Reduce -1.4% | 0.44% | −0.07 |
| QIAGEN NV | Sold out | 0.00% | −0.06 |
| JBHT Hunt (jb) Transprt SVCS Inc. | Reduce -91.8% | 0.01% | −0.06 |
| MOD Modine Manufacturing Co. | Reduce -30.2% | 0.06% | −0.06 |
| ACCENTURE PLC | Reduce -0.1% | 0.95% | −0.05 |
| Eaton Corp PLC | Reduce -0.2% | 0.34% | −0.05 |
| MANH Manhattan Associates Inc. | Reduce -22.4% | 0.05% | −0.04 |
| ELF Elf Beauty Inc. | Reduce -93.6% | 0.00% | −0.04 |
| NVT Nvent Electric PLC | Reduce -19.3% | 0.08% | −0.04 |
| FIX Comfort Systems USA Inc. | Reduce -15.3% | 0.09% | −0.04 |
| DDOG Datadog Inc. Class A | Reduce -0.0% | 0.11% | −0.04 |
| FUL H.B. Fuller Co. | Reduce -33.5% | 0.05% | −0.04 |
| CMG Chipotle Mexican Grill Inc. | Reduce -0.9% | 0.28% | −0.04 |
| XYZ Block Inc. | Reduce -0.0% | 0.08% | −0.04 |
| ZS Zscaler Inc. | Reduce -84.4% | 0.01% | −0.03 |
| NEOG Neogen Corp. | Reduce -97.5% | 0.00% | −0.03 |
| SPSC SPS Commerce Inc. | Reduce -27.7% | 0.04% | −0.03 |
| BRKR Bruker Corp. | Reduce -15.8% | 0.05% | −0.03 |
| BCC Boise Cascade Co. | Reduce -93.0% | 0.00% | −0.03 |
| NDSN Nordson Corp. | Reduce -86.6% | 0.00% | −0.03 |
| MAR Marriott International Class A | Reduce -0.2% | 0.29% | −0.03 |
| LFUS Littelfuse Inc. | Reduce -20.9% | 0.06% | −0.03 |
| RGA Reinsurance Group of America | Reduce -9.2% | 0.22% | −0.03 |
| ADBE Adobe Inc. | Reduce -0.8% | 0.27% | −0.02 |
| REXR Rexford Industrial Realty Inc. | Reduce -88.1% | 0.00% | −0.02 |
| KWR Quaker Chemical Corporation | Reduce -29.9% | 0.04% | −0.02 |
| NOW ServiceNow Inc. | Reduce -0.2% | 0.09% | −0.02 |
| ANET Arista Networks Inc. | Reduce -0.1% | 0.05% | −0.02 |
| TTD Trade Desk Inc./the Class A | Reduce -0.1% | 0.01% | −0.01 |
Portfolio Buys Q4 2024 → Q1 2025
| NFLX Netflix Inc. | Add +250.5% | 0.80% | +0.60 |
| EMR Emerson Electric Co. | Add +1131.9% | 0.44% | +0.41 |
| V Visa Inc. Class A | Add +0.3% | 2.23% | +0.36 |
| CHUBB LTD | Add +44.4% | 0.74% | +0.30 |
| META Meta Platforms Inc. Class A | Add +3.2% | 3.11% | +0.26 |
| GE General Electric | Add +14.6% | 0.65% | +0.21 |
| ABT Abbott Laboratories | Add +2.9% | 0.79% | +0.18 |
| BLK BlackRock Inc. | Add +12.2% | 1.30% | +0.13 |
| AXP American Express Co. | Add +13.3% | 1.20% | +0.11 |
| LNT Alliant Energy Corp. | Add +1465.7% | 0.11% | +0.10 |
| CHE Chemed Corp. | Add +2478.7% | 0.10% | +0.10 |
| ALLEGION PLC | New | 0.07% | +0.07 |
| APG Api Group Corp. | Add +2595.7% | 0.07% | +0.07 |
| AIT Applied Industrial Tech Inc. | Add +1701.8% | 0.07% | +0.07 |
| QGEN Qiagen N.V. | New | 0.06% | +0.06 |
| BRO Brown & Brown Inc. | Add +35.7% | 0.13% | +0.06 |
| CASY Casey's General Stores Inc. | Add +778.8% | 0.06% | +0.06 |
| HUBB Hubbell Inc. | Add +646.9% | 0.06% | +0.05 |
| EXR Extra Space Storage Inc. | Add +248.9% | 0.06% | +0.05 |
| MS Morgan Stanley | Add +5.5% | 0.94% | +0.05 |
| CMS CMS Energy Corp. | Add +19.2% | 0.13% | +0.04 |
| SSNC Ss&c Technologies Holdings | Add +13.2% | 0.12% | +0.03 |
| RYAN Ryan Specialty Holdings Inc. | Add +6.1% | 0.12% | +0.03 |
| DRI Darden Restaurants Inc. | Add +9.4% | 0.11% | +0.03 |
| PSN Parsons Corp. | Add +2322.8% | 0.03% | +0.03 |
| PEN Penumbra Inc. | Add +14.2% | 0.09% | +0.02 |
| CRVL Corvel Corp. | Add +46.2% | 0.06% | +0.02 |
| PLTR Palantir Technologies Inc. Class A | Add +2.5% | 0.10% | +0.02 |
| WSO Watsco Inc. | Add +22.7% | 0.06% | +0.02 |
| MSTR Strategy Inc. | Add +67.2% | 0.04% | +0.02 |
| PNFP Pinnacle Financial Partners | Add +16.2% | 0.10% | +0.01 |
| AJG Arthur J Gallagher & Co. | Add +5.7% | 0.05% | +0.01 |
| SCHW Schwab (charles) Corp. | Add +6.7% | 0.08% | +0.01 |
| WELL Welltower Inc. | Add +0.0% | 0.06% | +0.01 |
| OKE Oneok Inc. | Add +43.9% | 0.04% | +0.01 |
| LAMR Lamar Advertising Co. Class A | Add +10.7% | 0.12% | +0.01 |
| JLL Jones Lang Lasalle Inc. | Add +5.3% | 0.11% | +0.01 |
| HLNE Hamilton Lane Inc. Class A | Add +9.1% | 0.07% | +0.01 |
| INTC Intel Corp. | Add +0.1% | 0.06% | +0.01 |
| DASH DoorDash Inc. Class A | Add +17.3% | 0.04% | +0.01 |
| CFR Cullen/Frost Bankers Inc. | Add +11.0% | 0.09% | +0.01 |
| Royal Caribbean Cruises Ltd | Add +36.2% | 0.03% | +0.01 |
| RGEN Repligen Corp. | Add +15.9% | 0.07% | +0.01 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +1.4% | 0.05% | +0.01 |
| APP AppLovin Corp. Class A | Add +35.4% | 0.03% | +0.01 |
| IP International Paper Co. | Add +46.3% | 0.01% | +0.00 |
| KDP Keurig Dr Pepper Inc. | Add +1.5% | 0.02% | +0.00 |
| PRMB Primo Brands Corp. | Add +916.3% | 0.00% | +0.00 |
| HOOD Robinhood Markets Inc. Class A | Add +14.3% | 0.01% | +0.00 |
| G Genpact Ltd. | New | 0.00% | +0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,839 | $28.9B | NVDA, AAPL, GOOGL, MSFT, AMZN |
| Q1 2026 | 1,846 | $25.5B | NVDA, AAPL, GOOGL, MSFT, AMZN |
| Q4 2025 | 1,865 | $27.2B | NVDA, AAPL, MSFT, GOOGL, AMZN |
| Q3 2025 | 1,887 | $27.2B | NVDA, MSFT, AAPL, GOOGL, AMZN |
| Q2 2025 | 1,886 | $25.9B | NVDA, MSFT, AAPL, AMZN, META |
| Q1 2025 | 1,906 | $23.4B | AAPL, MSFT, NVDA, AMZN, GOOGL |
| Q4 2024 | 1,925 | $25.2B | AAPL, NVDA, MSFT, AMZN, GOOGL |
| Q3 2024 | 1,941 | $25.2B | AAPL, MSFT, NVDA, AMZN, GOOGL |
| Q2 2024 | 1,913 | $23.9B | MSFT, NVDA, AAPL, AMZN, GOOGL |
| Q1 2024 | 1,897 | $23.2B | MSFT, AAPL, NVDA, AMZN, GOOGL |