State Board of Administration of Florida Retirement System
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 12, 2026), State Board of Administration of Florida Retirement System reported 2,072 stock positions worth $56.5 billion. Its top holding was Nvidia (NVDA) at 6.9% of the portfolio, followed by Apple (AAPL, 6.2%) and Microsoft (MSFT, 5.6%). Compared with Q3 2025, it opened 37 new positions, sold out of 51, added to 198 and reduced 770. The biggest buy was Sandisk (SNDK, shares +4%) and the biggest sale Microsoft (MSFT, shares −3%).
- Most Recent 13F
- Q2 2026
- Location
- TALLAHASSEE, FL
- CIK
- 0000938076
- Portfolio Value
- $56.5B (Q4 2025)
- SEC Filing
- 0000938076-26-000002 ↗ filed Feb 12, 2026
Holdings Value
Holdings 2,072 stocks · $56.5B
| NVDA Nvidia Corp. | 6.87% | 20,827,392 | $3.9B | Reduce -2.8% |
| AAPL Apple Inc. | 6.23% | 12,952,636 | $3.5B | Reduce -3.0% |
| MSFT Microsoft Corp. | 5.61% | 6,560,549 | $3.2B | Reduce -2.9% |
| AMZN Amazon.com Inc. | 3.47% | 8,502,697 | $2.0B | Reduce -2.9% |
| GOOGL Alphabet Inc. Class A | 2.86% | 5,166,938 | $1.6B | Reduce -2.8% |
| AVGO Broadcom Inc. | 2.51% | 4,091,467 | $1.4B | Reduce -2.8% |
| GOOG Alphabet Inc. Class C | 2.33% | 4,199,734 | $1.3B | Reduce -2.8% |
| META Meta Platforms Inc. Class A | 2.26% | 1,938,610 | $1.3B | Reduce -2.7% |
| TSLA Tesla Inc. | 1.99% | 2,504,601 | $1.1B | Reduce -2.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.43% | 1,609,510 | $809.0M | Reduce -2.5% |
| JPM JPMorgan Chase & Co. | 1.38% | 2,428,507 | $782.5M | Reduce -4.2% |
| LLY Eli Lilly & Co. | 1.35% | 711,590 | $764.7M | Reduce -3.0% |
| V Visa Inc. Class A | 0.94% | 1,507,510 | $528.7M | Reduce -2.9% |
| XOM Exxon Mobil Corp. | 0.81% | 3,816,838 | $459.3M | Reduce -3.5% |
| JNJ Johnson & Johnson | 0.78% | 2,132,224 | $441.3M | Reduce -2.2% |
| WMT Walmart Inc. | 0.76% | 3,879,471 | $432.2M | Reduce -3.4% |
| MA Mastercard Inc. Class A | 0.73% | 724,237 | $413.5M | Reduce -2.8% |
| ABBV Abbvie Inc. | 0.64% | 1,573,255 | $359.5M | Reduce -2.8% |
| NFLX Netflix Inc. | 0.63% | 3,790,652 | $355.4M | Reduce -2.4% |
| PLTR Palantir Technologies Inc. Class A | 0.61% | 1,944,036 | $345.6M | Reduce -2.9% |
| COST Costco Wholesale Corp. | 0.60% | 395,544 | $341.1M | Reduce -2.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.58% | 5,999,043 | $329.9M | Reduce -4.0% |
| AMD Advanced Micro Devices | 0.54% | 1,426,841 | $305.6M | Reduce -2.8% |
| HD Home Depot Inc. | 0.54% | 880,286 | $302.9M | Reduce -2.3% |
| PG The Procter & Gamble Co. | 0.53% | 2,079,563 | $298.0M | Reduce -1.9% |
| ORCL Oracle Corp. | 0.51% | 1,492,691 | $290.9M | Reduce -1.4% |
| GE General Electric filed as GE AEROSPACE | 0.51% | 940,631 | $289.7M | Reduce -3.0% |
| MU Micron Technology Inc. | 0.50% | 988,162 | $282.0M | Reduce -2.1% |
| CSCO Cisco Systems Inc. | 0.48% | 3,521,932 | $271.3M | Reduce -3.7% |
| WFC Wells Fargo & Co. | 0.47% | 2,854,678 | $266.1M | Reduce -4.8% |
| UNH Unitedhealth Group Inc. | 0.47% | 803,603 | $265.3M | Reduce -2.7% |
| CVX Chevron Corp. | 0.46% | 1,708,281 | $260.4M | Reduce -3.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.43% | 823,403 | $243.9M | Reduce -2.2% |
| KO The Coca-Cola Co. | 0.43% | 3,445,689 | $240.9M | Reduce -3.8% |
| CAT Caterpillar Inc. | 0.42% | 411,912 | $236.0M | Reduce -1.9% |
| MRK Merck & Co. Inc. | 0.42% | 2,231,755 | $234.9M | Reduce -2.6% |
| GS Goldman Sachs Group Inc. | 0.41% | 265,602 | $233.5M | Reduce -3.9% |
| PM Philip Morris International | 0.39% | 1,385,018 | $222.2M | Reduce -2.3% |
| CRM Salesforce Inc. | 0.39% | 826,913 | $219.1M | Reduce -2.6% |
| RTX RTX Corp. | 0.39% | 1,193,672 | $218.9M | Reduce -3.3% |
| LRCX Lam Research Corp. | 0.35% | 1,140,083 | $195.2M | Reduce -4.3% |
| MCD McDonald's Corp. | 0.34% | 635,090 | $194.1M | Reduce -2.5% |
| TMO Thermo Fisher Scientific Inc. | 0.34% | 334,359 | $193.7M | Reduce -3.0% |
| ABT Abbott Laboratories | 0.34% | 1,533,671 | $192.2M | Reduce -3.1% |
| C Citigroup Inc. | 0.33% | 1,610,242 | $187.9M | Reduce -4.8% |
| MS Morgan Stanley | 0.33% | 1,034,738 | $183.7M | Reduce -2.6% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.32% | 1,602,249 | $182.3M | Reduce -2.6% |
| AMAT Applied Materials Inc. | 0.32% | 698,516 | $179.5M | Reduce -2.5% |
| AXP American Express Co. | 0.32% | 483,695 | $178.9M | Reduce -2.8% |
| ISRG Intuitive Surgical Inc. | 0.31% | 314,214 | $178.0M | Reduce -2.7% |
| LIN Linde PLC | 0.31% | 411,850 | $175.6M | Reduce -2.2% |
| PEP Pepsico Inc. | 0.31% | 1,207,924 | $173.4M | Reduce -2.2% |
| QCOM Qualcomm Inc. | 0.29% | 951,333 | $162.7M | Reduce -2.9% |
| INTU Intuit Inc. | 0.28% | 242,911 | $160.9M | Reduce -2.8% |
| GEV GE Vernova Inc. | 0.28% | 242,893 | $158.7M | Reduce -3.4% |
| BKNG Booking Holdings Inc. | 0.28% | 29,361 | $157.2M | Reduce -3.3% |
| T AT&T Inc. | 0.28% | 6,269,701 | $155.7M | Reduce -5.1% |
| AMGN Amgen Inc. | 0.27% | 473,538 | $155.0M | Reduce -2.4% |
| VZ Verizon Communications Inc. | 0.27% | 3,691,881 | $150.4M | Reduce -2.3% |
| SCHW Schwab (charles) Corp. | 0.26% | 1,489,519 | $148.8M | Reduce -3.1% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.26% | 968,237 | $148.7M | Reduce -3.9% |
| ACN Accenture PLC Class A | 0.26% | 553,744 | $148.6M | Reduce -2.1% |
| NEE Nextera Energy Inc. | 0.26% | 1,833,849 | $147.2M | Reduce -3.2% |
| UBER Uber Technologies Inc. | 0.26% | 1,783,065 | $145.7M | Reduce -3.4% |
| BLK BlackRock Inc. | 0.26% | 134,863 | $144.3M | Reduce -2.8% |
| BA The Boeing Co. | 0.26% | 664,286 | $144.2M | Add +0.2% |
| APH Amphenol Corp. Class A | 0.25% | 1,063,500 | $143.7M | Reduce -4.0% |
| KLAC KLA Corp. | 0.25% | 118,274 | $143.7M | Reduce -2.8% |
| SPGI S&P Global Inc. | 0.25% | 274,761 | $143.6M | Reduce -2.8% |
| INTC Intel Corp. | 0.25% | 3,885,885 | $143.4M | Reduce -2.7% |
| APP AppLovin Corp. Class A | 0.25% | 212,483 | $143.2M | Reduce -3.2% |
| NOW ServiceNow Inc. | 0.25% | 932,075 | $142.8M | Reduce -3.1% |
| TXN Texas Instruments Inc. | 0.25% | 800,670 | $138.9M | Reduce -3.0% |
| COF Capital One Financial Corp. | 0.24% | 565,341 | $137.0M | Reduce -2.5% |
| GILD Gilead Sciences Inc. | 0.24% | 1,095,139 | $134.4M | Reduce -3.8% |
| ADBE Adobe Inc. | 0.23% | 377,378 | $132.1M | Reduce -2.8% |
| DHR Danaher Corp. | 0.23% | 565,286 | $129.4M | Reduce -3.2% |
| PFE Pfizer Inc. | 0.22% | 5,011,598 | $124.8M | Reduce -5.0% |
| BSX Boston Scientific Corp. | 0.22% | 1,288,698 | $122.9M | Reduce -4.3% |
| EFA iShares MSCI Eafe ETF | 0.21% | 1,252,285 | $120.3M | Reduce -50.5% |
| ANET Arista Networks Inc. | 0.21% | 916,851 | $120.1M | Reduce -3.0% |
| UNP Union Pacific Corp. | 0.21% | 517,780 | $119.8M | Reduce -2.0% |
| LOW Lowe's Cos Inc. | 0.21% | 493,998 | $119.1M | Reduce -3.0% |
| PGR Progressive Corp. | 0.21% | 517,111 | $117.8M | Reduce -3.2% |
| ADI Analog Devices Inc. | 0.21% | 433,295 | $117.5M | Reduce -2.4% |
| ETN Eaton Corp. PLC | 0.20% | 346,259 | $110.3M | Reduce -2.5% |
| WELL Welltower Inc. | 0.19% | 591,681 | $109.8M | Add +1.7% |
| HON Honeywell International Inc. | 0.19% | 561,458 | $109.5M | Reduce -2.9% |
| COP Conocophillips | 0.19% | 1,163,535 | $108.9M | Reduce -3.2% |
| PANW Palo Alto Networks Inc. | 0.19% | 586,948 | $108.1M | Reduce -2.3% |
| MDT Medtronic PLC | 0.19% | 1,118,475 | $107.4M | Reduce -3.0% |
| SYK Stryker Corp. | 0.19% | 302,205 | $106.2M | Reduce -2.1% |
| PLD Prologis Inc. | 0.19% | 822,082 | $104.9M | Reduce -2.4% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.18% | 218,736 | $102.5M | Reduce -2.6% |
| VRTX Vertex Pharmaceuticals Inc. | 0.18% | 226,000 | $102.5M | Reduce -3.3% |
| CB Chubb Ltd. | 0.18% | 327,796 | $102.3M | Reduce -1.9% |
| DE Deere & Co. | 0.18% | 218,727 | $101.8M | Reduce -2.9% |
| PH Parker Hannifin Corp. | 0.18% | 114,537 | $100.7M | Reduce -2.3% |
| CEG Constellation Energy | 0.18% | 280,503 | $99.1M | Reduce -2.8% |
| BX Blackstone Inc. | 0.18% | 642,750 | $99.1M | Reduce -3.3% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $100K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| GME.WS Gamestop Corp. | *W EXP 10/30/202 | 33,286 | $100K | No change |
Total filed on the 13F, all lines: $56.5B.
Portfolio Sells Q3 2025 → Q4 2025
| MSFT Microsoft Corp. | Reduce -2.9% | 5.61% | −0.51 |
| META Meta Platforms Inc. Class A | Reduce -2.7% | 2.26% | −0.30 |
| ORCL Oracle Corp. | Reduce -1.4% | 0.51% | −0.23 |
| EFA iShares MSCI Eafe ETF | Reduce -50.5% | 0.21% | −0.20 |
| NFLX Netflix Inc. | Reduce -2.4% | 0.63% | −0.19 |
| NVDA Nvidia Corp. | Reduce -2.8% | 6.87% | −0.12 |
| HD Home Depot Inc. | Reduce -2.3% | 0.54% | −0.10 |
| MSTR Strategy Inc. | Reduce -1.8% | 0.06% | −0.07 |
| UBER Uber Technologies Inc. | Reduce -3.4% | 0.26% | −0.06 |
| NOW ServiceNow Inc. | Reduce -3.1% | 0.25% | −0.06 |
| FISV Fiserv Inc. | Reduce -4.8% | 0.06% | −0.06 |
| COST Costco Wholesale Corp. | Reduce -2.5% | 0.60% | −0.05 |
| T AT&T Inc. | Reduce -5.1% | 0.28% | −0.05 |
| PG The Procter & Gamble Co. | Reduce -1.9% | 0.53% | −0.04 |
| HOOD Robinhood Markets Inc. Class A | Reduce -3.9% | 0.13% | −0.04 |
| LIN Linde PLC | Reduce -2.2% | 0.31% | −0.04 |
| ETN Eaton Corp. PLC | Reduce -2.5% | 0.20% | −0.04 |
| SPOT Spotify Technology SA | Reduce -3.3% | 0.14% | −0.03 |
| ABT Abbott Laboratories | Reduce -3.1% | 0.34% | −0.03 |
| TMUS T-Mobile US Inc. | Reduce -2.7% | 0.15% | −0.03 |
| DASH DoorDash Inc. Class A | Reduce -3.9% | 0.13% | −0.03 |
| K Kellanova | Sold out | 0.00% | −0.03 |
| UNH Unitedhealth Group Inc. | Reduce -2.7% | 0.47% | −0.03 |
| ANET Arista Networks Inc. | Reduce -3.0% | 0.21% | −0.03 |
| DD Dupont DE Nemours Inc. | Reduce -3.7% | 0.03% | −0.03 |
| AZO AutoZone Inc. | Reduce -4.3% | 0.09% | −0.03 |
| ORLY O'reilly Automotive Inc. | Reduce -4.8% | 0.12% | −0.03 |
| MO Altria Group Inc. | Reduce -3.9% | 0.15% | −0.03 |
| BLK BlackRock Inc. | Reduce -2.8% | 0.26% | −0.03 |
| PLTR Palantir Technologies Inc. Class A | Reduce -2.9% | 0.61% | −0.03 |
| MDLZ Mondelez International Inc. Class A | Reduce -6.3% | 0.11% | −0.03 |
| VZ Verizon Communications Inc. | Reduce -2.3% | 0.27% | −0.02 |
| ADP Automatic Data Processing | Reduce -1.3% | 0.17% | −0.02 |
| BX Blackstone Inc. | Reduce -3.3% | 0.18% | −0.02 |
| APP AppLovin Corp. Class A | Reduce -3.2% | 0.25% | −0.02 |
| PANW Palo Alto Networks Inc. | Reduce -2.3% | 0.19% | −0.02 |
| PGR Progressive Corp. | Reduce -3.2% | 0.21% | −0.02 |
| VST Vistra Corp. | Reduce -4.0% | 0.09% | −0.02 |
| FAST Fastenal Co. | Reduce -6.9% | 0.07% | −0.02 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -2.5% | 1.43% | −0.02 |
| AJG Arthur J Gallagher & Co. | Reduce -1.8% | 0.10% | −0.02 |
| RCL Royal Caribbean Cruises Ltd. | Reduce -3.3% | 0.11% | −0.02 |
| AXON Axon Enterprise Inc. | Reduce -4.5% | 0.07% | −0.02 |
| MSI Motorola Solutions Inc. | Reduce -2.5% | 0.10% | −0.02 |
| TXN Texas Instruments Inc. | Reduce -3.0% | 0.25% | −0.02 |
| ABBV Abbvie Inc. | Reduce -2.8% | 0.64% | −0.02 |
| HON Honeywell International Inc. | Reduce -2.9% | 0.19% | −0.02 |
| CDNS Cadence Design SYS Inc. | Reduce -2.8% | 0.13% | −0.02 |
| CVX Chevron Corp. | Reduce -3.1% | 0.46% | −0.02 |
| PYPL PayPal Holdings Inc. | Reduce -6.0% | 0.09% | −0.02 |
Portfolio Buys Q3 2025 → Q4 2025
| SNDK Sandisk Corp. | Add +4.1% | 0.05% | +0.03 |
| INSM Insmed Inc. | Add +33.5% | 0.06% | +0.02 |
| CIEN Ciena Corp. | Add +1.3% | 0.05% | +0.02 |
| RKT Rocket Cos Inc. Class A | Add +369.8% | 0.03% | +0.02 |
| COHR Coherent Corp. | Add +9.6% | 0.04% | +0.02 |
| OMC Omnicom Group | Add +78.2% | 0.04% | +0.02 |
| RKLB Rocket Lab Corp. | Add +2.2% | 0.04% | +0.01 |
| MDB Mongodb Inc. | Add +0.2% | 0.05% | +0.01 |
| FLEX Flex Ltd. | Add +97.2% | 0.03% | +0.01 |
| AU Anglogold Ashanti PLC | Add +5.4% | 0.06% | +0.01 |
| WELL Welltower Inc. | Add +1.7% | 0.19% | +0.01 |
| ASTS Ast Spacemobile Inc. | Add +34.2% | 0.02% | +0.01 |
| RVMD Revolution Medicines Inc. | Add +53.0% | 0.02% | +0.01 |
| QSR Restaurant Brands Intern | Add +65.7% | 0.02% | +0.01 |
| FIX Comfort Systems USA Inc. | Add +2.2% | 0.06% | +0.01 |
| KDP Keurig Dr Pepper Inc. | Add +4.9% | 0.05% | +0.01 |
| PNC PNC Financial Services Group | Add +1.3% | 0.12% | +0.01 |
| ATI Ati Inc. | Add +5.9% | 0.02% | +0.01 |
| RIVN Rivian Automotive Inc. Class A | Add +0.0% | 0.02% | +0.01 |
| CRS Carpenter Technology | Add +10.3% | 0.02% | +0.01 |
| RGLD Royal Gold Inc. | Add +17.2% | 0.02% | +0.01 |
| PRU Prudential Financial Inc. | Add +1.8% | 0.05% | +0.01 |
| KRYS Krystal Biotech Inc. | Add +172.4% | 0.01% | +0.01 |
| BA The Boeing Co. | Add +0.2% | 0.26% | +0.01 |
| MTSI Macom Technology Solutions H | Add +7.8% | 0.01% | +0.00 |
| JAZZ Jazz Pharmaceuticals PLC | Add +21.2% | 0.01% | +0.00 |
| CFLT Confluent Inc. Class A | Add +3.9% | 0.01% | +0.00 |
| TTI Tetra Technologies Inc. | Add +200.6% | 0.01% | +0.00 |
| CDNA Caredx Inc. | Add +645.2% | 0.00% | +0.00 |
| RDDT Reddit Inc. Class A | Add +8.7% | 0.04% | +0.00 |
| IOT Samsara Inc. Class A | Add +41.4% | 0.01% | +0.00 |
| PEN Penumbra Inc. | Add +1.1% | 0.02% | +0.00 |
| JLL Jones Lang Lasalle Inc. | Add +3.4% | 0.02% | +0.00 |
| MKSI MKS Inc. | Add +0.7% | 0.02% | +0.00 |
| ABCB Ameris Bancorp | Add +115.6% | 0.01% | +0.00 |
| BAM Brookfield Asset Mgmt-A | Add +30.4% | 0.02% | +0.00 |
| ONON On Holding AG Class A | Add +27.4% | 0.01% | +0.00 |
| HII Huntington Ingalls Industrie | Add +3.6% | 0.02% | +0.00 |
| CRCL Circle Internet Group Inc. | Add +325.5% | 0.01% | +0.00 |
| RBRK Rubrik Inc. Class A | Add +36.3% | 0.01% | +0.00 |
| VIK Viking Holdings Ltd. | Add +88.6% | 0.01% | +0.00 |
| COKE Coca-Cola Consolidated Inc. | Add +0.3% | 0.01% | +0.00 |
| ECHO Echostar Corp. Class A | Add +12.4% | 0.01% | +0.00 |
| MTB M & T Bank Corp. | Add +3.8% | 0.04% | +0.00 |
| MLI Mueller Industries Inc. | Add +13.1% | 0.01% | +0.00 |
| FTI Technipfmc PLC | Add +0.3% | 0.02% | +0.00 |
| AHCO Adapthealth Corp. | Add +480.2% | 0.00% | +0.00 |
| CRDO Credo Technology Group Holdi | Add +27.4% | 0.01% | +0.00 |
| AMRZ Amrize Ltd. | New | 0.00% | +0.00 |
| APG Api Group Corp. | Add +5.6% | 0.01% | +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 |