Public Employees Retirement Association of Colorado
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 11, 2025), Public Employees Retirement Association of Colorado reported 1,886 stock positions worth $25.9 billion. Its top holding was Nvidia (NVDA) at 7.5% of the portfolio, followed by Microsoft (MSFT, 7.0%) and Apple (AAPL, 5.7%). Compared with Q1 2025, it opened 18 new positions, sold out of 39, added to 64 and reduced 648. The biggest buy was Philip Morris International (PM, shares +679%) and the biggest sale Unitedhealth (UNH, shares −81%).
- Most Recent 13F
- Q2 2026
- Location
- DENVER, CO
- CIK
- 0000315297
- Portfolio Value
- $25.9B (Q2 2025)
- SEC Filing
- 0000315297-25-000007 ↗ filed Aug 11, 2025
Holdings Value
Holdings 1,886 stocks · $25.9B
| NVDA Nvidia Corp. | 7.53% | 12,347,541 | $2.0B | Reduce -0.7% |
| MSFT Microsoft Corp. | 6.98% | 3,639,156 | $1.8B | Reduce -0.6% |
| AAPL Apple Inc. | 5.71% | 7,208,967 | $1.5B | Reduce -1.0% |
| AMZN Amazon.com Inc. | 4.71% | 5,563,498 | $1.2B | Reduce -0.8% |
| META Meta Platforms Inc. Class A | 3.69% | 1,293,975 | $955.1M | Add +2.2% |
| GOOGL Alphabet Inc. Class A | 3.44% | 5,054,604 | $890.8M | Reduce -6.0% |
| V Visa Inc. Class A | 2.02% | 1,471,021 | $522.3M | Reduce -1.3% |
| JPM JPMorgan Chase & Co. | 2.01% | 1,795,338 | $520.5M | Reduce -1.6% |
| COST Costco Wholesale Corp. | 1.68% | 439,376 | $435.0M | Reduce -0.7% |
| ORCL Oracle Corp. | 1.63% | 1,930,813 | $422.1M | Reduce -2.2% |
| WMT Walmart Inc. | 1.62% | 4,287,015 | $419.2M | Reduce -2.5% |
| AVGO Broadcom Inc. | 1.56% | 1,468,977 | $404.9M | Add +16.2% |
| MA Mastercard Inc. Class A | 1.31% | 604,396 | $339.6M | Add +55.5% |
| NFLX Netflix Inc. | 1.30% | 251,281 | $336.5M | Add +24.6% |
| AXP American Express Co. | 1.27% | 1,029,569 | $328.4M | Reduce -1.9% |
| BLK BlackRock Inc. | 1.26% | 311,073 | $326.4M | Reduce -3.3% |
| XOM Exxon Mobil Corp. | 1.20% | 2,877,058 | $310.1M | Reduce -0.6% |
| PM Philip Morris International | 1.15% | 1,638,902 | $298.5M | Add +679.1% |
| LLY Eli Lilly & Co. | 1.11% | 369,590 | $288.1M | Add +243.0% |
| CRM Salesforce Inc. | 1.08% | 1,030,361 | $281.0M | Reduce -2.8% |
| TSLA Tesla Inc. | 1.06% | 862,106 | $273.9M | Reduce -0.7% |
| MS Morgan Stanley | 1.00% | 1,834,801 | $258.4M | Reduce -2.4% |
| WCN Waste Connections Inc. | 0.95% | 1,317,911 | $246.1M | Reduce -0.1% |
| GE General Electric filed as GE AEROSPACE | 0.89% | 898,927 | $231.4M | Add +18.8% |
| LINDE PLC | 0.85% | 470,316 | $220.7M | Reduce -0.3% |
| ICE Intercontinental Exchange Inc. | 0.82% | 1,159,663 | $212.8M | Reduce -0.1% |
| HD Home Depot Inc. | 0.77% | 543,078 | $199.1M | Add +9.8% |
| ABT Abbott Laboratories | 0.73% | 1,395,979 | $189.9M | Reduce -0.3% |
| APH Amphenol Corp. Class A | 0.70% | 1,835,760 | $181.3M | Reduce -0.1% |
| ACCENTURE PLC | 0.70% | 603,623 | $180.4M | Reduce -15.1% |
| MELI MercadoLibre Inc. | 0.68% | 67,294 | $175.9M | Reduce -2.1% |
| VRTX Vertex Pharmaceuticals Inc. | 0.67% | 392,543 | $174.8M | Reduce -6.1% |
| TSM Taiwan Semiconductor-SP ADR | 0.66% | 754,800 | $171.0M | No change |
| EMR Emerson Electric Co. | 0.65% | 1,269,136 | $169.2M | Add +33.5% |
| ABBV Abbvie Inc. | 0.63% | 879,077 | $163.2M | Add +270.9% |
| CHUBB LTD | 0.62% | 555,915 | $161.1M | Reduce -3.2% |
| SHW The Sherwin-Williams Co. | 0.60% | 450,657 | $154.7M | Reduce -0.2% |
| KLAC KLA Corp. | 0.56% | 161,831 | $145.0M | Reduce -0.3% |
| TXN Texas Instruments Inc. | 0.56% | 694,835 | $144.3M | Reduce -0.5% |
| EOG EOG Resources Inc. | 0.55% | 1,201,367 | $143.7M | Reduce -0.3% |
| BSX Boston Scientific Corp. | 0.54% | 1,304,287 | $140.1M | Reduce -0.3% |
| ORLY O'reilly Automotive Inc. | 0.54% | 1,547,565 | $139.5M | Reduce -5.9% |
| Eaton Corp PLC | 0.50% | 366,037 | $130.7M | Add +25.3% |
| NXPI NXP Semiconductors NV | 0.49% | 584,259 | $127.7M | Reduce -0.1% |
| GM General Motors Co. | 0.46% | 2,430,603 | $119.6M | Reduce -1.0% |
| GOOG Alphabet Inc. Class C | 0.44% | 650,017 | $115.3M | Reduce -2.4% |
| TMO Thermo Fisher Scientific Inc. | 0.43% | 274,574 | $111.3M | Reduce -0.7% |
| NSC Norfolk Southern Corp. | 0.42% | 422,525 | $108.2M | Reduce -0.2% |
| Johnson Controls International | 0.41% | 1,001,811 | $105.8M | Reduce -0.3% |
| DHR Danaher Corp. | 0.36% | 471,115 | $93.1M | Reduce -0.6% |
| ALC Alcon Inc. filed as ALCON AG | 0.35% | 1,038,839 | $91.7M | Reduce -0.1% |
| MSCI MSCI Inc. | 0.34% | 152,813 | $88.1M | Reduce -2.3% |
| CSL Carlisle Cos Inc. | 0.33% | 229,879 | $85.8M | Reduce -0.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.33% | 175,759 | $85.4M | Reduce -0.4% |
| CTAS Cintas Corp. | 0.31% | 364,090 | $81.1M | Reduce -0.3% |
| GD General Dynamics Corp. | 0.31% | 272,997 | $79.6M | Reduce -0.6% |
| DDOG Datadog Inc. Class A | 0.30% | 586,325 | $78.8M | Add +131.6% |
| MAR Marriott International Class A | 0.30% | 288,223 | $78.7M | Reduce -0.4% |
| MRVL Marvell Technology Inc. | 0.30% | 1,014,907 | $78.6M | Reduce -0.3% |
| CRH CRH PLC-Sponsored ADR | 0.29% | 809,683 | $74.3M | Reduce -0.4% |
| CMG Chipotle Mexican Grill Inc. | 0.28% | 1,297,072 | $72.8M | Reduce -0.1% |
| VRSK Verisk Analytics Inc. | 0.27% | 222,442 | $69.3M | Reduce -0.5% |
| PLD Prologis Inc. | 0.23% | 578,869 | $60.9M | Reduce -0.7% |
| EQIX Equinix Inc. | 0.23% | 73,673 | $58.6M | Add +0.0% |
| HDB HDFC Bank Ltd.-ADR | 0.19% | 644,420 | $49.4M | No change |
| PG The Procter & Gamble Co. | 0.19% | 307,085 | $48.9M | Reduce -72.2% |
| JNJ Johnson & Johnson | 0.19% | 315,325 | $48.2M | Reduce -1.0% |
| CW Curtiss-Wright Corp. | 0.18% | 94,127 | $46.0M | Reduce -16.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.17% | 946,166 | $44.8M | Add +3.8% |
| ARMK Aramark | 0.15% | 918,910 | $38.5M | No change |
| PLTR Palantir Technologies Inc. Class A | 0.15% | 282,222 | $38.5M | Reduce -0.0% |
| RBC RBC Bearings Inc. | 0.15% | 99,957 | $38.5M | No change |
| KO The Coca-Cola Co. | 0.15% | 537,784 | $38.0M | Reduce -1.8% |
| UNH Unitedhealth Group Inc. | 0.14% | 120,169 | $37.5M | Reduce -80.9% |
| ESE Esco Technologies Inc. | 0.14% | 194,910 | $37.4M | No change |
| TTWO Take-Two Interactive Softwre | 0.14% | 152,965 | $37.1M | Reduce -13.6% |
| USFD US Foods Holding Corp. | 0.14% | 478,197 | $36.8M | Reduce -0.2% |
| CSCO Cisco Systems Inc. | 0.14% | 519,999 | $36.1M | Reduce -2.2% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.14% | 122,291 | $36.0M | Reduce -1.3% |
| NDAQ Nasdaq Inc. | 0.14% | 400,087 | $35.8M | Add +1.4% |
| FIX Comfort Systems USA Inc. | 0.14% | 65,727 | $35.2M | No change |
| CBRE CBRE Group Inc. Class A | 0.13% | 244,763 | $34.3M | Reduce -0.7% |
| WFC Wells Fargo & Co. | 0.13% | 427,736 | $34.3M | Reduce -2.4% |
| APG Api Group Corp. | 0.13% | 636,303 | $32.5M | Add +35.3% |
| ITGR Integer Holdings Corp. | 0.12% | 262,429 | $32.3M | Reduce -7.0% |
| LYV Live Nation Entertainment Inc. | 0.12% | 212,562 | $32.2M | Reduce -12.4% |
| BR Broadridge Financial Solutio | 0.12% | 131,851 | $32.0M | Reduce -0.2% |
| TRNO Terreno Realty Corp. | 0.12% | 571,064 | $32.0M | No change |
| ATO Atmos Energy Corp. | 0.12% | 204,494 | $31.5M | Add +0.4% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 0.12% | 424,591 | $31.2M | No change |
| CVX Chevron Corp. | 0.12% | 217,365 | $31.1M | Reduce -5.4% |
| FICO Fair Isaac Corp. | 0.12% | 16,974 | $31.0M | Reduce -0.4% |
| VMC Vulcan Materials Co. | 0.12% | 118,804 | $31.0M | Reduce -0.1% |
| TRGP Targa Resources Corp. | 0.12% | 177,812 | $31.0M | Reduce -0.3% |
| LAMR Lamar Advertising Co. Class A | 0.12% | 253,628 | $30.8M | Reduce -0.1% |
| GWRE Guidewire Software Inc. | 0.12% | 130,695 | $30.8M | Reduce -9.8% |
| TYL Tyler Technologies Inc. | 0.12% | 51,844 | $30.7M | Reduce -0.3% |
| VRT Vertiv Holdings Co. Class A | 0.12% | 237,449 | $30.5M | Add +15.6% |
| AMD Advanced Micro Devices | 0.12% | 213,156 | $30.2M | Reduce -2.0% |
| HLI Houlihan Lokey Inc. | 0.12% | 167,946 | $30.2M | Reduce -13.1% |
Portfolio Sells Q1 2025 → Q2 2025
| UNH Unitedhealth Group Inc. | Reduce -80.9% | 0.14% | −1.26 |
| AAPL Apple Inc. | Reduce -1.0% | 5.71% | −1.19 |
| ZTS Zoetis Inc. | Reduce -95.1% | 0.04% | −0.80 |
| PG The Procter & Gamble Co. | Reduce -72.2% | 0.19% | −0.61 |
| MRK Merck & Co. Inc. | Reduce -79.5% | 0.10% | −0.52 |
| SBUX Starbucks Corp. | Reduce -84.0% | 0.05% | −0.34 |
| XOM Exxon Mobil Corp. | Reduce -0.6% | 1.20% | −0.27 |
| ACCENTURE PLC | Reduce -15.1% | 0.70% | −0.25 |
| IQV Iqvia Holdings Inc. | Reduce -94.6% | 0.01% | −0.22 |
| V Visa Inc. Class A | Reduce -1.3% | 2.02% | −0.21 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -6.1% | 0.67% | −0.19 |
| DHI D.R. Horton Inc. | Reduce -89.8% | 0.02% | −0.18 |
| ADBE Adobe Inc. | Reduce -65.6% | 0.08% | −0.18 |
| TMO Thermo Fisher Scientific Inc. | Reduce -0.7% | 0.43% | −0.16 |
| RGA Reinsurance Group of America | Reduce -67.2% | 0.07% | −0.15 |
| WCN Waste Connections Inc. | Reduce -0.1% | 0.95% | −0.15 |
| ORLY O'reilly Automotive Inc. | Reduce -5.9% | 0.54% | −0.13 |
| CRM Salesforce Inc. | Reduce -2.8% | 1.08% | −0.13 |
| CHUBB LTD | Reduce -3.2% | 0.62% | −0.12 |
| GOOGL Alphabet Inc. Class A | Reduce -6.0% | 3.44% | −0.11 |
| COST Costco Wholesale Corp. | Reduce -0.7% | 1.68% | −0.11 |
| EOG EOG Resources Inc. | Reduce -0.3% | 0.55% | −0.10 |
| LINDE PLC | Reduce -0.3% | 0.85% | −0.09 |
| SHW The Sherwin-Williams Co. | Reduce -0.2% | 0.60% | −0.08 |
| ONTO Onto Innovation Inc. | Reduce -96.1% | 0.00% | −0.07 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.4% | 0.33% | −0.07 |
| ALC Alcon Inc. | Reduce -0.1% | 0.35% | −0.07 |
| OVV Ovintiv Inc. | Reduce -46.0% | 0.05% | −0.06 |
| XYZ Block Inc. | Reduce -83.5% | 0.01% | −0.06 |
| ABT Abbott Laboratories | Reduce -0.3% | 0.73% | −0.06 |
| DHR Danaher Corp. | Reduce -0.6% | 0.36% | −0.06 |
| COKE Coca-Cola Consolidated Inc. | Reduce -14.3% | 0.09% | −0.05 |
| FRPT Freshpet Inc. | Reduce -96.4% | 0.00% | −0.05 |
| MANH Manhattan Associates Inc. | Reduce -91.1% | 0.00% | −0.05 |
| KWR Quaker Chemical Corporation | Reduce -98.0% | 0.00% | −0.04 |
| CVX Chevron Corp. | Reduce -5.4% | 0.12% | −0.04 |
| PLD Prologis Inc. | Reduce -0.7% | 0.23% | −0.04 |
| JNJ Johnson & Johnson | Reduce -1.0% | 0.19% | −0.04 |
| BLK BlackRock Inc. | Reduce -3.3% | 1.26% | −0.04 |
| ACIW Aci Worldwide Inc. | Reduce -5.9% | 0.09% | −0.04 |
| MSCI MSCI Inc. | Reduce -2.3% | 0.34% | −0.04 |
| BLD Topbuild Corp. | Reduce -90.1% | 0.00% | −0.04 |
| ICE Intercontinental Exchange Inc. | Reduce -0.1% | 0.82% | −0.03 |
| TRGP Targa Resources Corp. | Reduce -0.3% | 0.12% | −0.03 |
| AVNT Avient Corp. | Reduce -26.2% | 0.04% | −0.03 |
| MKC McCormick & Co.-Non VTG SHRS | Reduce -17.8% | 0.07% | −0.03 |
| CBZ Cbiz Inc. | Reduce -18.5% | 0.07% | −0.03 |
| GM General Motors Co. | Reduce -1.0% | 0.46% | −0.03 |
| WMT Walmart Inc. | Reduce -2.5% | 1.62% | −0.03 |
| ESI Element Solutions Inc. | Reduce -20.9% | 0.07% | −0.03 |
Portfolio Buys Q1 2025 → Q2 2025
| PM Philip Morris International | Add +679.1% | 1.15% | +1.01 |
| LLY Eli Lilly & Co. | Add +243.0% | 1.11% | +0.73 |
| AVGO Broadcom Inc. | Add +16.2% | 1.56% | +0.66 |
| META Meta Platforms Inc. Class A | Add +2.2% | 3.69% | +0.57 |
| NFLX Netflix Inc. | Add +24.6% | 1.30% | +0.50 |
| ABBV Abbvie Inc. | Add +270.9% | 0.63% | +0.42 |
| MA Mastercard Inc. Class A | Add +55.5% | 1.31% | +0.40 |
| GE General Electric | Add +18.8% | 0.89% | +0.25 |
| EMR Emerson Electric Co. | Add +33.5% | 0.65% | +0.21 |
| DDOG Datadog Inc. Class A | Add +131.6% | 0.30% | +0.20 |
| Eaton Corp PLC | Add +25.3% | 0.50% | +0.17 |
| COHR Coherent Corp. | Add +1372.6% | 0.08% | +0.08 |
| HEI.A Heico Corp. Class A | Add +717.3% | 0.08% | +0.07 |
| NTNX Nutanix Inc. Class A | Add +912.4% | 0.08% | +0.07 |
| KNF Knife River Corp. | Add +3026.5% | 0.06% | +0.06 |
| VRT Vertiv Holdings Co. Class A | Add +15.6% | 0.12% | +0.05 |
| APG Api Group Corp. | Add +35.3% | 0.13% | +0.05 |
| MCHP Microchip Technology Inc. | Add +18.4% | 0.10% | +0.04 |
| COF Capital One Financial Corp. | Add +65.8% | 0.07% | +0.03 |
| CASY Casey's General Stores Inc. | Add +33.2% | 0.09% | +0.03 |
| LION Lionsgate Studios Corp. | New | 0.02% | +0.02 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +2.7% | 0.06% | +0.02 |
| COIN Coinbase Global Inc. Class A | Add +0.5% | 0.04% | +0.02 |
| HOOD Robinhood Markets Inc. Class A | Add +16.1% | 0.03% | +0.02 |
| MSTR Strategy Inc. | Add +7.0% | 0.05% | +0.01 |
| BAC Bank of America Corp. | Add +3.8% | 0.17% | +0.01 |
| NDAQ Nasdaq Inc. | Add +1.4% | 0.14% | +0.01 |
| SNOW Snowflake Inc. | Add +1.6% | 0.04% | +0.01 |
| RBLX Roblox Corp. Class A | Add +13.5% | 0.02% | +0.01 |
| APP AppLovin Corp. Class A | Add +8.8% | 0.04% | +0.01 |
| DASH DoorDash Inc. Class A | Add +0.4% | 0.04% | +0.01 |
| CVNA Carvana Co. | Add +16.2% | 0.02% | +0.01 |
| ALAB Astera Labs Inc. | New | 0.00% | +0.00 |
| SE Sea Ltd.-ADR | Add +0.7% | 0.04% | +0.00 |
| STRZ Starz Entertainment Corp. | New | 0.00% | +0.00 |
| MILLICM INTE | New | 0.00% | +0.00 |
| RKLB Rocket Lab Corp. | Add +56.3% | 0.01% | +0.00 |
| PEN Penumbra Inc. | Add +19.3% | 0.09% | +0.00 |
| DLR Digital Realty Trust Inc. | Add +0.3% | 0.03% | +0.00 |
| ODD Oddity Tech Ltd. | Add +288.5% | 0.00% | +0.00 |
| MIR Mirion Technologies Inc. | New | 0.00% | +0.00 |
| DRS Leonardo DRS Inc. | New | 0.00% | +0.00 |
| SMR Nuscale Power Corp. | New | 0.00% | +0.00 |
| QFIN Qfin Holdings Inc.-ADR | Add +2975.0% | 0.00% | +0.00 |
| ULS Ul Solutions Inc. Class A | New | 0.00% | +0.00 |
| INMD Inmode Ltd. | Add +249.4% | 0.00% | +0.00 |
| TEM Tempus AI Inc. Class A | New | 0.00% | +0.00 |
| AMCR Amcor PLC | Add +52.1% | 0.01% | +0.00 |
| AKRO Akero Therapeutics Inc. | New | 0.00% | +0.00 |
| QBTS D-Wave Quantum Inc. | 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 |