State Board of Administration of Florida Retirement System
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 12, 2025), State Board of Administration of Florida Retirement System reported 2,169 stock positions worth $50.4 billion. Its top holding was Apple (AAPL) at 6.3% of the portfolio, followed by Microsoft (MSFT, 5.3%) and Nvidia (NVDA, 4.9%). Compared with Q4 2024, it opened 39 new positions, sold out of 70, added to 358 and reduced 334. The biggest buy was Berkshire Hathaway Class B (BRK.B, shares +0%) and the biggest sale Nvidia (NVDA, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- TALLAHASSEE, FL
- CIK
- 0000938076
- Portfolio Value
- $50.4B (Q1 2025)
- SEC Filing
- 0000938076-25-000006 ↗ filed May 12, 2025
Holdings Value
Holdings 2,169 stocks · $50.4B
| AAPL Apple Inc. | 6.28% | 14,242,616 | $3.2B | Add +2.1% |
| MSFT Microsoft Corp. | 5.34% | 7,167,214 | $2.7B | Reduce -0.1% |
| NVDA Nvidia Corp. | 4.88% | 22,691,859 | $2.5B | Reduce -0.1% |
| AMZN Amazon.com Inc. | 3.42% | 9,068,336 | $1.7B | Reduce -0.0% |
| META Meta Platforms Inc. Class A | 2.42% | 2,116,281 | $1.2B | Add +0.0% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.84% | 1,737,085 | $925.1M | Add +0.1% |
| GOOGL Alphabet Inc. Class A | 1.74% | 5,662,506 | $875.6M | Add +0.0% |
| AVGO Broadcom Inc. | 1.47% | 4,428,130 | $741.4M | Add +0.8% |
| GOOG Alphabet Inc. Class C | 1.46% | 4,718,880 | $737.2M | Reduce -0.7% |
| TSLA Tesla Inc. | 1.38% | 2,693,456 | $698.0M | Reduce -0.1% |
| JPM JPMorgan Chase & Co. | 1.33% | 2,728,380 | $669.3M | Reduce -0.0% |
| LLY Eli Lilly & Co. | 1.27% | 775,283 | $640.3M | Reduce -0.0% |
| V Visa Inc. Class A | 1.13% | 1,631,889 | $571.9M | Add +7.0% |
| XOM Exxon Mobil Corp. | 1.02% | 4,313,840 | $513.0M | Reduce -0.4% |
| UNH Unitedhealth Group Inc. | 0.92% | 886,865 | $464.5M | Add +0.2% |
| MA Mastercard Inc. Class A | 0.87% | 795,613 | $436.1M | Reduce -0.4% |
| COST Costco Wholesale Corp. | 0.80% | 428,399 | $405.2M | Add +0.5% |
| PG The Procter & Gamble Co. | 0.77% | 2,274,329 | $387.6M | Add +0.2% |
| JNJ Johnson & Johnson | 0.77% | 2,325,340 | $385.6M | Add +0.5% |
| NFLX Netflix Inc. | 0.76% | 412,505 | $384.7M | Add +0.3% |
| WMT Walmart Inc. | 0.74% | 4,255,117 | $373.6M | Reduce -1.0% |
| ABBV Abbvie Inc. | 0.71% | 1,708,954 | $358.1M | Add +0.4% |
| HD Home Depot Inc. | 0.69% | 952,337 | $349.0M | No change |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.55% | 6,625,963 | $276.5M | Reduce -1.8% |
| KO The Coca-Cola Co. | 0.55% | 3,840,996 | $275.1M | Reduce -1.0% |
| CVX Chevron Corp. | 0.54% | 1,632,022 | $273.0M | Reduce -0.8% |
| CSCO Cisco Systems Inc. | 0.48% | 3,936,913 | $242.9M | Reduce -2.1% |
| CRM Salesforce Inc. | 0.48% | 900,619 | $241.7M | Reduce -0.1% |
| PM Philip Morris International | 0.47% | 1,481,557 | $235.2M | Add +0.6% |
| WFC Wells Fargo & Co. | 0.47% | 3,268,231 | $234.6M | Reduce -2.1% |
| ABT Abbott Laboratories | 0.44% | 1,672,838 | $221.9M | Add +0.1% |
| MRK Merck & Co. Inc. | 0.44% | 2,452,521 | $220.1M | Add +0.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.43% | 877,533 | $218.2M | Add +0.7% |
| MCD McDonald's Corp. | 0.42% | 685,400 | $214.1M | Add +0.0% |
| ORCL Oracle Corp. | 0.42% | 1,524,176 | $213.1M | Add +0.4% |
| LIN Linde PLC | 0.42% | 454,504 | $211.6M | Add +0.2% |
| GE General Electric filed as GE AEROSPACE | 0.42% | 1,048,025 | $209.8M | Reduce -0.3% |
| T AT&T Inc. | 0.40% | 7,095,354 | $200.7M | Reduce -2.5% |
| PEP Pepsico Inc. | 0.38% | 1,291,308 | $193.6M | Add +0.4% |
| ACN Accenture PLC Class A | 0.37% | 600,971 | $187.5M | Add +0.1% |
| VZ Verizon Communications Inc. | 0.37% | 4,086,192 | $185.3M | Reduce 0.0% |
| TMO Thermo Fisher Scientific Inc. | 0.36% | 366,897 | $182.6M | Add +0.0% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.34% | 1,748,401 | $172.6M | No change |
| RTX RTX Corp. | 0.34% | 1,301,132 | $172.3M | No change |
| ISRG Intuitive Surgical Inc. | 0.33% | 340,434 | $168.6M | Add +0.2% |
| PLTR Palantir Technologies Inc. Class A | 0.33% | 1,986,394 | $167.7M | Add +1.1% |
| QCOM Qualcomm Inc. | 0.33% | 1,068,580 | $164.1M | Add +0.1% |
| ADBE Adobe Inc. | 0.33% | 427,113 | $163.8M | Reduce -0.4% |
| INTU Intuit Inc. | 0.32% | 264,321 | $162.3M | Add +0.2% |
| PGR Progressive Corp. | 0.32% | 566,763 | $160.4M | Add +0.1% |
| NOW ServiceNow Inc. | 0.32% | 201,282 | $160.2M | Add +0.2% |
| GS Goldman Sachs Group Inc. | 0.32% | 292,689 | $159.9M | Add +0.2% |
| AMD Advanced Micro Devices | 0.32% | 1,553,424 | $159.6M | Add +0.1% |
| AMGN Amgen Inc. | 0.32% | 510,925 | $159.2M | Add +0.3% |
| TXN Texas Instruments Inc. | 0.31% | 876,174 | $157.4M | Add +0.3% |
| SPGI S&P Global Inc. | 0.31% | 302,856 | $153.9M | Add +0.5% |
| CAT Caterpillar Inc. | 0.30% | 463,278 | $152.8M | No change |
| BKNG Booking Holdings Inc. | 0.30% | 32,655 | $150.4M | Add +1.3% |
| BSX Boston Scientific Corp. | 0.29% | 1,460,367 | $147.3M | Reduce -0.8% |
| AXP American Express Co. | 0.29% | 535,547 | $144.1M | No change |
| UBER Uber Technologies Inc. | 0.28% | 1,963,523 | $143.1M | Add +0.2% |
| NEE Nextera Energy Inc. | 0.28% | 2,009,467 | $142.5M | Add +0.1% |
| PFE Pfizer Inc. | 0.28% | 5,576,304 | $141.3M | Reduce -1.6% |
| COP Conocophillips | 0.27% | 1,315,329 | $138.1M | Reduce -2.2% |
| CMCSA Comcast Corp. Class A | 0.27% | 3,733,689 | $137.8M | Reduce -2.9% |
| GILD Gilead Sciences Inc. | 0.27% | 1,204,431 | $135.0M | Add +0.6% |
| UNP Union Pacific Corp. | 0.27% | 569,932 | $134.6M | Add +0.2% |
| BLK BlackRock Inc. | 0.27% | 141,107 | $133.6M | New |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.26% | 1,094,179 | $133.3M | Reduce -0.2% |
| MS Morgan Stanley | 0.26% | 1,120,989 | $130.8M | No change |
| HON Honeywell International Inc. | 0.26% | 617,422 | $130.7M | Reduce -0.1% |
| C Citigroup Inc. | 0.26% | 1,818,046 | $129.1M | No change |
| LOW Lowe's Cos Inc. | 0.25% | 546,048 | $127.4M | No change |
| DHR Danaher Corp. | 0.25% | 620,814 | $127.3M | No change |
| SYK Stryker Corp. | 0.25% | 339,818 | $126.5M | Add +0.1% |
| TMUS T-Mobile US Inc. | 0.25% | 463,975 | $123.7M | Add +0.9% |
| FISV Fiserv Inc. | 0.24% | 553,314 | $122.2M | Add +0.1% |
| SCHW Schwab (charles) Corp. | 0.24% | 1,554,542 | $121.7M | Add +6.1% |
| VRTX Vertex Pharmaceuticals Inc. | 0.24% | 248,709 | $120.6M | Add +0.3% |
| ADP Automatic Data Processing | 0.24% | 393,336 | $120.2M | No change |
| BMY Bristol-Myers Squibb Co. | 0.24% | 1,958,040 | $119.4M | Reduce -0.8% |
| BA The Boeing Co. | 0.24% | 700,077 | $119.4M | Add +3.3% |
| MRSH Marsh & McLennan Cos | 0.23% | 478,179 | $116.7M | No change |
| AMAT Applied Materials Inc. | 0.23% | 794,626 | $115.3M | Reduce -1.5% |
| DE Deere & Co. | 0.23% | 243,178 | $114.1M | Add +1.0% |
| CB Chubb Ltd. | 0.23% | 377,666 | $114.1M | No change |
| MDT Medtronic PLC | 0.22% | 1,235,552 | $111.0M | No change |
| SBUX Starbucks Corp. | 0.21% | 1,094,759 | $107.4M | Add +0.1% |
| PANW Palo Alto Networks Inc. | 0.21% | 616,352 | $105.2M | Add +0.7% |
| ETN Eaton Corp. PLC | 0.20% | 379,648 | $103.2M | No change |
| SO The Southern Co. | 0.20% | 1,107,432 | $101.8M | Add +0.0% |
| MO Altria Group Inc. | 0.20% | 1,691,899 | $101.5M | Reduce -3.4% |
| PLD Prologis Inc. | 0.20% | 908,239 | $101.5M | Reduce -0.1% |
| AMT American Tower Corp. | 0.19% | 447,170 | $97.3M | Add +1.0% |
| ELV Elevance Health Inc. | 0.19% | 222,079 | $96.6M | Reduce -0.0% |
| ICE Intercontinental Exchange Inc. | 0.19% | 558,737 | $96.4M | Reduce -1.5% |
| BX Blackstone Inc. | 0.19% | 687,947 | $96.2M | No change |
| ADI Analog Devices Inc. | 0.19% | 472,540 | $95.3M | Add +0.4% |
| INTC Intel Corp. | 0.19% | 4,181,329 | $95.0M | Reduce -0.2% |
| CME Cme Group Inc. | 0.18% | 347,716 | $92.2M | Add +1.9% |
Portfolio Sells Q4 2024 → Q1 2025
| NVDA Nvidia Corp. | Reduce -0.1% | 4.88% | −0.92 |
| TSLA Tesla Inc. | Reduce -0.1% | 1.38% | −0.69 |
| MSFT Microsoft Corp. | Reduce -0.1% | 5.34% | −0.41 |
| AMZN Amazon.com Inc. | Reduce -0.0% | 3.42% | −0.36 |
| GOOG Alphabet Inc. Class C | Reduce -0.7% | 1.46% | −0.26 |
| CRM Salesforce Inc. | Reduce -0.1% | 0.48% | −0.09 |
| MRVL Marvell Technology Inc. | Reduce -0.8% | 0.10% | −0.08 |
| ADBE Adobe Inc. | Reduce -0.4% | 0.33% | −0.04 |
| PYPL PayPal Holdings Inc. | Reduce -1.3% | 0.13% | −0.04 |
| XYZ Block Inc. | Reduce -0.5% | 0.06% | −0.03 |
| VRT Vertiv Holdings Co. Class A | Reduce -1.6% | 0.05% | −0.03 |
| CMG Chipotle Mexican Grill Inc. | Reduce -0.7% | 0.14% | −0.02 |
| NKE Nike Inc. Class B | Reduce -0.3% | 0.15% | −0.02 |
| AMAT Applied Materials Inc. | Reduce -1.5% | 0.23% | −0.02 |
| LULU Lululemon Athletica Inc. | Reduce -2.0% | 0.06% | −0.02 |
| GM General Motors Co. | Reduce -10.8% | 0.09% | −0.02 |
| ILMN Illumina Inc. | Reduce -0.3% | 0.03% | −0.02 |
| BAC Bank of America Corp. | Reduce -1.8% | 0.55% | −0.02 |
| AZPN Aspen Technology Inc. | Sold out | 0.00% | −0.01 |
| SMAR Smartsheet Inc. Class A | Sold out | 0.00% | −0.01 |
| TER Teradyne Inc. | Reduce -1.9% | 0.03% | −0.01 |
| USB US Bancorp | Reduce -0.6% | 0.13% | −0.01 |
| VST Vistra Corp. | Reduce -2.2% | 0.08% | −0.01 |
| HUBS HubSpot Inc. | Reduce -2.1% | 0.06% | −0.01 |
| FDX FedEx Corp. | Reduce -0.2% | 0.10% | −0.01 |
| JEF Jefferies Financial Group Inc. | Reduce -6.2% | 0.02% | −0.01 |
| EMR Emerson Electric Co. | Reduce -0.4% | 0.12% | −0.01 |
| REGN Regeneron Pharmaceuticals | Reduce -0.1% | 0.13% | −0.01 |
| VTRS Viatris Inc. | Reduce -7.1% | 0.02% | −0.01 |
| LVS Las Vegas Sands Corp. | Reduce -4.7% | 0.03% | −0.01 |
| FSLR First Solar Inc. | Reduce -1.1% | 0.03% | −0.01 |
| CSX CSX Corp. | Reduce -2.0% | 0.12% | −0.01 |
| CCL Carnival Corp. | Reduce -0.3% | 0.04% | −0.01 |
| INCY Incyte Corp. | Reduce -22.2% | 0.02% | −0.01 |
| HPQ HP Inc. | Reduce -0.3% | 0.06% | −0.01 |
| BILL Bill Holdings Inc. | Reduce -1.9% | 0.01% | −0.01 |
| A Agilent Technologies Inc. | Reduce -0.9% | 0.06% | −0.01 |
| HCP Hashicorp Inc. Class A | Sold out | 0.00% | −0.01 |
| AXON Axon Enterprise Inc. | Reduce -0.0% | 0.07% | −0.01 |
| FIX Comfort Systems USA Inc. | Reduce -1.2% | 0.02% | −0.01 |
| CIEN Ciena Corp. | Reduce -0.7% | 0.02% | −0.01 |
| HON Honeywell International Inc. | Reduce -0.1% | 0.26% | −0.01 |
| ALGN Align Technology Inc. | Reduce -0.3% | 0.02% | −0.01 |
| HOLX Hologic Inc. | Reduce -6.1% | 0.03% | −0.01 |
| PFE Pfizer Inc. | Reduce -1.6% | 0.28% | −0.01 |
| SAIA Saia Inc. | Reduce -4.5% | 0.02% | −0.01 |
| DXCM Dexcom Inc. | Reduce -1.4% | 0.05% | −0.01 |
| ABNB Airbnb Inc. Class A | Reduce -0.1% | 0.10% | −0.01 |
| APH Amphenol Corp. Class A | Reduce -1.9% | 0.16% | −0.01 |
| MGM MGM Resorts International | Reduce -15.0% | 0.02% | −0.01 |
Portfolio Buys Q4 2024 → Q1 2025
| BRK.B Berkshire Hathaway Inc. Class B | Add +0.1% | 1.84% | +0.34 |
| BLK BlackRock Inc. | New | 0.27% | +0.27 |
| V Visa Inc. Class A | Add +7.0% | 1.13% | +0.22 |
| LRCX Lam Research Corp. | New | 0.18% | +0.18 |
| ANET Arista Networks Inc. | New | 0.15% | +0.15 |
| ABBV Abbvie Inc. | Add +0.4% | 0.71% | +0.13 |
| PM Philip Morris International | Add +0.6% | 0.47% | +0.13 |
| JNJ Johnson & Johnson | Add +0.5% | 0.77% | +0.13 |
| ABT Abbott Laboratories | Add +0.1% | 0.44% | +0.08 |
| UNH Unitedhealth Group Inc. | Add +0.2% | 0.92% | +0.07 |
| IBM Intl Business Machines Corp. | Add +0.7% | 0.43% | +0.07 |
| NFLX Netflix Inc. | Add +0.3% | 0.76% | +0.07 |
| META Meta Platforms Inc. Class A | Add +0.0% | 2.42% | +0.06 |
| AMGN Amgen Inc. | Add +0.3% | 0.32% | +0.06 |
| COST Costco Wholesale Corp. | Add +0.5% | 0.80% | +0.06 |
| PGR Progressive Corp. | Add +0.1% | 0.32% | +0.06 |
| UBER Uber Technologies Inc. | Add +0.2% | 0.28% | +0.06 |
| LIN Linde PLC | Add +0.2% | 0.42% | +0.06 |
| GILD Gilead Sciences Inc. | Add +0.6% | 0.27% | +0.06 |
| TMUS T-Mobile US Inc. | Add +0.9% | 0.25% | +0.05 |
| PLTR Palantir Technologies Inc. Class A | Add +1.1% | 0.33% | +0.05 |
| VRTX Vertex Pharmaceuticals Inc. | Add +0.3% | 0.24% | +0.05 |
| MCD McDonald's Corp. | Add +0.0% | 0.42% | +0.05 |
| PG The Procter & Gamble Co. | Add +0.2% | 0.77% | +0.04 |
| WELL Welltower Inc. | Add +2.5% | 0.18% | +0.04 |
| AMT American Tower Corp. | Add +1.0% | 0.19% | +0.04 |
| MSTR Strategy Inc. | Add +38.3% | 0.13% | +0.04 |
| AJG Arthur J Gallagher & Co. | Add +4.5% | 0.15% | +0.04 |
| SCHW Schwab (charles) Corp. | Add +6.1% | 0.24% | +0.04 |
| SPOT Spotify Technology SA | Add +0.2% | 0.16% | +0.03 |
| SMCI Super Micro Computer Inc. | New | 0.03% | +0.03 |
| DE Deere & Co. | Add +1.0% | 0.23% | +0.03 |
| CME Cme Group Inc. | Add +1.9% | 0.18% | +0.03 |
| MCK McKesson Corp. | Add +0.1% | 0.17% | +0.03 |
| APTV Aptiv PLC | New | 0.03% | +0.03 |
| SO The Southern Co. | Add +0.0% | 0.20% | +0.03 |
| FISV Fiserv Inc. | Add +0.1% | 0.24% | +0.03 |
| AZO AutoZone Inc. | Add +2.3% | 0.12% | +0.03 |
| SBUX Starbucks Corp. | Add +0.1% | 0.21% | +0.02 |
| KLAC KLA Corp. | Add +0.7% | 0.18% | +0.02 |
| UNP Union Pacific Corp. | Add +0.2% | 0.27% | +0.02 |
| SPGI S&P Global Inc. | Add +0.5% | 0.31% | +0.02 |
| TDG Transdigm Group Inc. | Add +0.6% | 0.15% | +0.02 |
| ROP Roper Technologies Inc. | Add +0.5% | 0.12% | +0.02 |
| SYK Stryker Corp. | Add +0.1% | 0.25% | +0.02 |
| ETR Entergy Corp. | Add +12.1% | 0.06% | +0.02 |
| DASH DoorDash Inc. Class A | Add +1.1% | 0.12% | +0.02 |
| QCOM Qualcomm Inc. | Add +0.1% | 0.33% | +0.01 |
| MU Micron Technology Inc. | Add +0.1% | 0.18% | +0.01 |
| KVUE Kenvue Inc. | Add +0.6% | 0.08% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 2,134 | $60.3B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q1 2026 | 2,061 | $53.4B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q4 2025 | 2,072 | $56.5B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q3 2025 | 2,084 | $57.2B | NVDA, MSFT, AAPL, AMZN, META |
| Q2 2025 | 2,147 | $56.4B | NVDA, MSFT, AAPL, AMZN, META |
| Q1 2025 | 2,169 | $50.4B | AAPL, MSFT, NVDA, AMZN, META |
| Q4 2024 | 2,198 | $52.6B | AAPL, NVDA, MSFT, AMZN, META |
| Q3 2024 | 2,223 | $52.4B | AAPL, MSFT, NVDA, AMZN, META |
| Q2 2024 | 2,188 | $50.8B | MSFT, AAPL, NVDA, AMZN, META |
| Q1 2024 | 2,136 | $42.7B | AAPL, MSFT, AMZN, NVDA, GOOGL |