State Board of Administration of Florida Retirement System
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), State Board of Administration of Florida Retirement System reported 2,084 stock positions worth $57.2 billion. Its top holding was Nvidia (NVDA) at 7.0% of the portfolio, followed by Microsoft (MSFT, 6.1%) and Apple (AAPL, 6.0%). Compared with Q2 2025, it opened 47 new positions, sold out of 111, added to 185 and reduced 1,154. The biggest buy was Chevron (CVX, shares +11%) and the biggest sale Amazon.com (AMZN, shares −5%).
- Most Recent 13F
- Q2 2026
- Location
- TALLAHASSEE, FL
- CIK
- 0000938076
- Portfolio Value
- $57.2B (Q3 2025)
- SEC Filing
- 0000938076-25-000018 ↗ filed Nov 14, 2025
Holdings Value
Holdings 2,084 stocks · $57.2B
| NVDA Nvidia Corp. | 6.99% | 21,423,818 | $4.0B | Reduce -5.9% |
| MSFT Microsoft Corp. | 6.12% | 6,753,029 | $3.5B | Reduce -5.9% |
| AAPL Apple Inc. | 5.95% | 13,357,373 | $3.4B | Reduce -6.7% |
| AMZN Amazon.com Inc. | 3.36% | 8,752,850 | $1.9B | Reduce -5.2% |
| META Meta Platforms Inc. Class A | 2.56% | 1,992,692 | $1.5B | Reduce -6.0% |
| AVGO Broadcom Inc. | 2.43% | 4,210,321 | $1.4B | Reduce -5.9% |
| GOOGL Alphabet Inc. Class A | 2.26% | 5,313,203 | $1.3B | Reduce -6.0% |
| TSLA Tesla Inc. | 2.00% | 2,573,416 | $1.1B | Reduce -5.9% |
| GOOG Alphabet Inc. Class C | 1.84% | 4,318,938 | $1.1B | Reduce -5.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.45% | 1,651,043 | $830.0M | Reduce -5.7% |
| JPM JPMorgan Chase & Co. | 1.40% | 2,534,851 | $799.6M | Reduce -5.9% |
| LLY Eli Lilly & Co. | 0.98% | 733,448 | $559.6M | Reduce -5.9% |
| V Visa Inc. Class A | 0.93% | 1,552,709 | $530.1M | Reduce -6.0% |
| NFLX Netflix Inc. | 0.81% | 388,302 | $465.5M | Reduce -6.2% |
| XOM Exxon Mobil Corp. | 0.78% | 3,956,010 | $446.0M | Reduce -5.8% |
| ORCL Oracle Corp. | 0.74% | 1,513,231 | $425.6M | Reduce -3.7% |
| MA Mastercard Inc. Class A | 0.74% | 745,075 | $423.8M | Reduce -5.6% |
| WMT Walmart Inc. | 0.72% | 4,014,079 | $413.7M | Reduce -6.2% |
| JNJ Johnson & Johnson | 0.71% | 2,179,531 | $404.1M | Reduce -5.6% |
| COST Costco Wholesale Corp. | 0.66% | 405,704 | $375.5M | Reduce -6.0% |
| ABBV Abbvie Inc. | 0.66% | 1,617,822 | $374.6M | Reduce -6.1% |
| PLTR Palantir Technologies Inc. Class A | 0.64% | 2,001,600 | $365.1M | Reduce -5.0% |
| HD Home Depot Inc. | 0.64% | 900,609 | $364.9M | Reduce -5.9% |
| PG The Procter & Gamble Co. | 0.57% | 2,119,326 | $325.6M | Reduce -5.4% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.56% | 6,248,237 | $322.3M | Reduce -6.3% |
| GE General Electric filed as GE AEROSPACE | 0.51% | 969,425 | $291.6M | Reduce -6.5% |
| UNH Unitedhealth Group Inc. | 0.50% | 826,227 | $285.3M | Reduce -5.8% |
| CVX Chevron Corp. | 0.48% | 1,762,848 | $273.8M | Add +10.7% |
| WFC Wells Fargo & Co. | 0.44% | 2,997,038 | $251.2M | Reduce -7.7% |
| CSCO Cisco Systems Inc. | 0.44% | 3,658,472 | $250.3M | Reduce -6.8% |
| AMD Advanced Micro Devices | 0.42% | 1,468,375 | $237.6M | Reduce -6.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.42% | 841,879 | $237.5M | Reduce -5.7% |
| KO The Coca-Cola Co. | 0.42% | 3,580,397 | $237.5M | Reduce -6.6% |
| EFA iShares MSCI Eafe ETF | 0.41% | 2,530,833 | $236.3M | Add +8.1% |
| PM Philip Morris International | 0.40% | 1,417,899 | $230.0M | Reduce -5.6% |
| GS Goldman Sachs Group Inc. | 0.39% | 276,482 | $220.2M | Reduce -6.7% |
| ABT Abbott Laboratories | 0.37% | 1,582,761 | $212.0M | Reduce -6.1% |
| RTX RTX Corp. | 0.36% | 1,234,330 | $206.5M | Reduce -6.3% |
| CRM Salesforce Inc. | 0.35% | 849,015 | $201.2M | Reduce -6.5% |
| CAT Caterpillar Inc. | 0.35% | 419,989 | $200.4M | Reduce -6.1% |
| LIN Linde PLC | 0.35% | 421,204 | $200.1M | Reduce -5.8% |
| MCD McDonald's Corp. | 0.35% | 651,033 | $197.8M | Reduce -6.3% |
| MRK Merck & Co. Inc. | 0.34% | 2,291,300 | $192.3M | Reduce -6.1% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.33% | 1,644,490 | $188.3M | Reduce -6.6% |
| T AT&T Inc. | 0.33% | 6,609,659 | $186.7M | Reduce -6.6% |
| UBER Uber Technologies Inc. | 0.32% | 1,846,294 | $180.9M | Reduce -6.6% |
| NOW ServiceNow Inc. | 0.31% | 192,457 | $177.1M | Reduce -5.6% |
| PEP Pepsico Inc. | 0.30% | 1,235,496 | $173.5M | Reduce -4.3% |
| C Citigroup Inc. | 0.30% | 1,691,229 | $171.7M | Reduce -8.0% |
| INTU Intuit Inc. | 0.30% | 249,992 | $170.7M | Reduce -6.4% |
| MU Micron Technology Inc. | 0.30% | 1,009,271 | $168.9M | Reduce -6.1% |
| MS Morgan Stanley | 0.30% | 1,062,009 | $168.8M | Reduce -6.5% |
| TMO Thermo Fisher Scientific Inc. | 0.29% | 344,517 | $167.1M | Reduce -5.5% |
| VZ Verizon Communications Inc. | 0.29% | 3,778,369 | $166.1M | Reduce -6.3% |
| AXP American Express Co. | 0.29% | 497,707 | $165.3M | Reduce -7.6% |
| BKNG Booking Holdings Inc. | 0.29% | 30,376 | $164.0M | Reduce -6.3% |
| QCOM Qualcomm Inc. | 0.29% | 980,013 | $163.0M | Reduce -7.3% |
| BLK BlackRock Inc. | 0.28% | 138,672 | $161.7M | Reduce -4.3% |
| LRCX Lam Research Corp. | 0.28% | 1,190,717 | $159.4M | Reduce -6.4% |
| APP AppLovin Corp. Class A | 0.28% | 219,566 | $157.8M | Reduce -9.8% |
| GEV GE Vernova Inc. | 0.27% | 251,483 | $154.6M | Reduce -5.6% |
| TXN Texas Instruments Inc. | 0.27% | 825,708 | $151.7M | Reduce -6.2% |
| SCHW Schwab (charles) Corp. | 0.26% | 1,537,222 | $146.8M | Reduce -2.8% |
| AMAT Applied Materials Inc. | 0.26% | 716,407 | $146.7M | Reduce -7.8% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.25% | 1,007,123 | $145.6M | Reduce -7.0% |
| ISRG Intuitive Surgical Inc. | 0.25% | 323,070 | $144.5M | Reduce -6.4% |
| BA The Boeing Co. | 0.25% | 662,713 | $143.0M | Reduce -6.4% |
| NEE Nextera Energy Inc. | 0.25% | 1,893,963 | $143.0M | Reduce -6.0% |
| ACN Accenture PLC Class A | 0.24% | 565,536 | $139.5M | Reduce -6.4% |
| ANET Arista Networks Inc. | 0.24% | 945,162 | $137.7M | Reduce -4.9% |
| SPGI S&P Global Inc. | 0.24% | 282,571 | $137.5M | Reduce -7.0% |
| APH Amphenol Corp. Class A | 0.24% | 1,107,672 | $137.1M | Reduce -8.6% |
| ADBE Adobe Inc. | 0.24% | 388,242 | $137.0M | Reduce -7.4% |
| AMGN Amgen Inc. | 0.24% | 485,022 | $136.9M | Reduce -6.0% |
| PFE Pfizer Inc. | 0.24% | 5,273,787 | $134.4M | Reduce -4.7% |
| INTC Intel Corp. | 0.23% | 3,994,375 | $134.0M | Reduce -5.5% |
| ETN Eaton Corp. PLC | 0.23% | 355,232 | $132.9M | Reduce -7.4% |
| PGR Progressive Corp. | 0.23% | 534,391 | $132.0M | Reduce -6.9% |
| BSX Boston Scientific Corp. | 0.23% | 1,347,225 | $131.5M | Reduce -7.9% |
| KLAC KLA Corp. | 0.23% | 121,702 | $131.3M | Reduce -6.7% |
| LOW Lowe's Cos Inc. | 0.22% | 509,087 | $127.9M | Reduce -7.2% |
| GILD Gilead Sciences Inc. | 0.22% | 1,138,247 | $126.3M | Reduce -6.7% |
| UNP Union Pacific Corp. | 0.22% | 528,106 | $124.8M | Reduce -6.5% |
| COF Capital One Financial Corp. | 0.22% | 579,921 | $123.3M | Reduce -4.4% |
| PANW Palo Alto Networks Inc. | 0.21% | 600,622 | $122.3M | Reduce -4.5% |
| HON Honeywell International Inc. | 0.21% | 578,294 | $121.7M | Reduce -6.9% |
| DHR Danaher Corp. | 0.20% | 584,077 | $115.8M | Reduce -6.2% |
| SYK Stryker Corp. | 0.20% | 308,766 | $114.1M | Reduce -6.5% |
| COP Conocophillips | 0.20% | 1,202,380 | $113.7M | Reduce -8.1% |
| BX Blackstone Inc. | 0.20% | 664,492 | $113.5M | Reduce -4.9% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.19% | 224,604 | $110.1M | Reduce -3.0% |
| MDT Medtronic PLC | 0.19% | 1,152,699 | $109.8M | Reduce -5.5% |
| ADI Analog Devices Inc. | 0.19% | 443,840 | $109.1M | Reduce -6.7% |
| ADP Automatic Data Processing | 0.19% | 369,114 | $108.3M | Reduce -6.8% |
| CMCSA Comcast Corp. Class A | 0.18% | 3,361,018 | $105.6M | Reduce -4.5% |
| TMUS T-Mobile US Inc. | 0.18% | 436,659 | $104.5M | Reduce -6.8% |
| MO Altria Group Inc. | 0.18% | 1,569,576 | $103.7M | Reduce -8.2% |
| WELL Welltower Inc. | 0.18% | 581,633 | $103.6M | Reduce -2.0% |
| DE Deere & Co. | 0.18% | 225,312 | $103.0M | Reduce -7.0% |
| SPOT Spotify Technology SA | 0.17% | 142,499 | $99.5M | Reduce -2.6% |
Portfolio Sells Q2 2025 → Q3 2025
| AMZN Amazon.com Inc. | Reduce -5.2% | 3.36% | −0.23 |
| META Meta Platforms Inc. Class A | Reduce -6.0% | 2.56% | −0.22 |
| MSFT Microsoft Corp. | Reduce -5.9% | 6.12% | −0.21 |
| NFLX Netflix Inc. | Reduce -6.2% | 0.81% | −0.17 |
| V Visa Inc. Class A | Reduce -6.0% | 0.93% | −0.11 |
| COST Costco Wholesale Corp. | Reduce -6.0% | 0.66% | −0.10 |
| LLY Eli Lilly & Co. | Reduce -5.9% | 0.98% | −0.10 |
| CRM Salesforce Inc. | Reduce -6.5% | 0.35% | −0.09 |
| PM Philip Morris International | Reduce -5.6% | 0.40% | −0.08 |
| ISRG Intuitive Surgical Inc. | Reduce -6.4% | 0.25% | −0.08 |
| ACN Accenture PLC Class A | Reduce -6.4% | 0.24% | −0.08 |
| INTU Intuit Inc. | Reduce -6.4% | 0.30% | −0.07 |
| HES Hess Corp. | Sold out | 0.00% | −0.07 |
| KO The Coca-Cola Co. | Reduce -6.6% | 0.42% | −0.07 |
| PG The Procter & Gamble Co. | Reduce -5.4% | 0.57% | −0.06 |
| NOW ServiceNow Inc. | Reduce -5.6% | 0.31% | −0.06 |
| TXN Texas Instruments Inc. | Reduce -6.2% | 0.27% | −0.06 |
| DIS The Walt Disney Co. | Reduce -6.6% | 0.33% | −0.06 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -5.7% | 1.45% | −0.06 |
| FISV Fiserv Inc. | Reduce -9.0% | 0.11% | −0.06 |
| ANSS Ansys Inc. | Sold out | 0.00% | −0.05 |
| CMG Chipotle Mexican Grill Inc. | Reduce -8.4% | 0.09% | −0.05 |
| IBM Intl Business Machines Corp. | Reduce -5.7% | 0.42% | −0.05 |
| BSX Boston Scientific Corp. | Reduce -7.9% | 0.23% | −0.05 |
| ADBE Adobe Inc. | Reduce -7.4% | 0.24% | −0.05 |
| BKNG Booking Holdings Inc. | Reduce -6.3% | 0.29% | −0.05 |
| MA Mastercard Inc. Class A | Reduce -5.6% | 0.74% | −0.05 |
| CSCO Cisco Systems Inc. | Reduce -6.8% | 0.44% | −0.05 |
| HON Honeywell International Inc. | Reduce -6.9% | 0.21% | −0.04 |
| SPGI S&P Global Inc. | Reduce -7.0% | 0.24% | −0.04 |
| PGR Progressive Corp. | Reduce -6.9% | 0.23% | −0.04 |
| DE Deere & Co. | Reduce -7.0% | 0.18% | −0.04 |
| CMCSA Comcast Corp. Class A | Reduce -4.5% | 0.18% | −0.04 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -6.9% | 0.16% | −0.04 |
| T AT&T Inc. | Reduce -6.6% | 0.33% | −0.04 |
| ABT Abbott Laboratories | Reduce -6.1% | 0.37% | −0.04 |
| AMT American Tower Corp. | Reduce -6.8% | 0.14% | −0.04 |
| ELV Elevance Health Inc. | Reduce -5.4% | 0.12% | −0.03 |
| SYK Stryker Corp. | Reduce -6.5% | 0.20% | −0.03 |
| FTNT Fortinet Inc. | Reduce -5.8% | 0.09% | −0.03 |
| CI The Cigna Group | Reduce -7.1% | 0.12% | −0.03 |
| ICE Intercontinental Exchange Inc. | Reduce -6.6% | 0.15% | −0.03 |
| MRSH Marsh & McLennan Cos | Reduce -6.3% | 0.16% | −0.03 |
| CARR Carrier Global Corp. | Reduce -7.7% | 0.08% | −0.03 |
| ADP Automatic Data Processing | Reduce -6.8% | 0.19% | −0.03 |
| TDG Transdigm Group Inc. | Reduce -4.2% | 0.12% | −0.03 |
| UPS United Parcel Service Class B | Reduce -4.3% | 0.10% | −0.03 |
| CL Colgate-Palmolive Co. | Reduce -7.3% | 0.10% | −0.03 |
| SPOT Spotify Technology SA | Reduce -2.6% | 0.17% | −0.03 |
| SBUX Starbucks Corp. | Reduce -5.3% | 0.16% | −0.03 |
Portfolio Buys Q2 2025 → Q3 2025
| CVX Chevron Corp. | Add +10.7% | 0.48% | +0.07 |
| IWB iShares Russell 1000 ETF | Add +152.0% | 0.10% | +0.06 |
| EFA iShares MSCI Eafe ETF | Add +8.1% | 0.41% | +0.04 |
| RBLX Roblox Corp. Class A | Add +1.9% | 0.13% | +0.03 |
| AU Anglogold Ashanti PLC | Add +6.4% | 0.05% | +0.02 |
| SOFI Sofi Technologies Inc. | Add +5.7% | 0.05% | +0.02 |
| AZO AutoZone Inc. | Add +0.6% | 0.12% | +0.02 |
| RDDT Reddit Inc. Class A | Add +1.1% | 0.04% | +0.01 |
| SNDK Sandisk Corp. | Add +6.0% | 0.02% | +0.01 |
| INSM Insmed Inc. | Add +3.7% | 0.03% | +0.01 |
| SNPS Synopsys Inc. | Add +13.6% | 0.15% | +0.01 |
| BAM Brookfield Asset Mgmt-A | Add +132.5% | 0.02% | +0.01 |
| RKLB Rocket Lab Corp. | Add +8.8% | 0.03% | +0.01 |
| FLEX Flex Ltd. | Add +148.0% | 0.01% | +0.01 |
| DELL Dell Technologies -C | Add +0.3% | 0.07% | +0.01 |
| U Unity Software Inc. | Add +1.7% | 0.02% | +0.01 |
| MKL Markel Group Inc. | Add +24.0% | 0.04% | +0.01 |
| MP MP Materials Corp. | Add +5.0% | 0.01% | +0.01 |
| NVR NVR Inc. | Add +13.2% | 0.03% | +0.01 |
| IWM iShares Russell 2000 ETF | New | 0.01% | +0.01 |
| COOP Mr Cooper Group Inc. | Add +25.3% | 0.01% | +0.01 |
| QSR Restaurant Brands Intern | Add +89.6% | 0.01% | +0.01 |
| SBH Sally Beauty Holdings Inc. | Add +306.9% | 0.01% | +0.00 |
| VNOM Viper Energy Inc. Class A | New | 0.00% | +0.00 |
| HWC Hancock Whitney Corp. | Add +155.8% | 0.01% | +0.00 |
| MLI Mueller Industries Inc. | Add +53.4% | 0.01% | +0.00 |
| COHR Coherent Corp. | Add +1.1% | 0.02% | +0.00 |
| CG The Carlyle Group Inc. | Add +5.0% | 0.02% | +0.00 |
| OUT Outfront Media Inc. | Add +247.8% | 0.00% | +0.00 |
| QS Quantumscape Corp. | Add +15.8% | 0.01% | +0.00 |
| SHLS Shoals Technologies Group -A | Add +203.6% | 0.00% | +0.00 |
| SEM Select Medical Holdings Corp. | Add +515.7% | 0.00% | +0.00 |
| HALO Halozyme Therapeutics Inc. | Add +21.3% | 0.01% | +0.00 |
| SEB Seaboard Corp. | Add +214.3% | 0.00% | +0.00 |
| IDCC Interdigital Inc. | Add +1.0% | 0.01% | +0.00 |
| OIS Oil States International Inc. | Add +185.1% | 0.00% | +0.00 |
| OHI Omega Healthcare Investors | Add +3.6% | 0.02% | +0.00 |
| AFRM Affirm Holdings Inc. | Add +4.8% | 0.03% | +0.00 |
| IONQ Ionq Inc. | Add +17.8% | 0.01% | +0.00 |
| TRS Trimas Corp. | Add +315.3% | 0.00% | +0.00 |
| UI Ubiquiti Inc. | Add +11.8% | 0.01% | +0.00 |
| DCH Dauch Corporation | Add +525.9% | 0.00% | +0.00 |
| RKT Rocket Cos Inc. Class A | Add +42.1% | 0.01% | +0.00 |
| JHX James Hardie Ind PLC | New | 0.00% | +0.00 |
| RVMD Revolution Medicines Inc. | Add +23.7% | 0.01% | +0.00 |
| RGTI Rigetti Computing Inc. | Add +63.4% | 0.00% | +0.00 |
| CXM Sprinklr Inc. Class A | Add +209.7% | 0.00% | +0.00 |
| TMHC Taylor Morrison Home Corp. | Add +112.9% | 0.00% | +0.00 |
| FTI Technipfmc PLC | Add +2.4% | 0.02% | +0.00 |
| DOC Healthpeak Properties Inc. | Add +3.0% | 0.02% | +0.00 |
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 |