State of New Jersey Common Pension Fund D
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 31, 2025), State of New Jersey Common Pension Fund D reported 1,473 stock positions worth $25.8 billion. Its top holding was Nvidia (NVDA) at 5.0% of the portfolio, followed by iShares Core MSCI Emerging (IEMG, 4.9%) and Microsoft (MSFT, 4.6%). Compared with Q1 2025, it opened 31 new positions, sold out of 58, added to 534 and reduced 464. The biggest buy was a new position in iShares Core MSCI Emerging (IEMG) and the biggest sale an exit from iShares Core MSCI Eafe ETF (IEFA).
- Most Recent 13F
- Q2 2026
- Location
- TRENTON, NJ
- CIK
- 0001483066
- Portfolio Value
- $25.8B (Q2 2025)
- SEC Filing
- 0001085146-25-004359 ↗ filed Jul 31, 2025
Holdings Value
Holdings 1,473 stocks · $25.8B
| NVDA Nvidia Corp. | 5.03% | 8,209,521 | $1.3B | Reduce -0.4% |
| IEMG iShares Core MSCI Emerging | 4.87% | 20,923,000 | $1.3B | New |
| MSFT Microsoft Corp. | 4.58% | 2,375,938 | $1.2B | No change |
| VTI VG Morningstar TS MKT ETF-US | 4.14% | 3,514,970 | $1.1B | Add +105.0% |
| AAPL Apple Inc. | 4.02% | 5,054,806 | $1.0B | Reduce -0.1% |
| VNQ Vanguard Real Estate ETF | 2.97% | 8,598,869 | $765.8M | No change |
| AMZN Amazon.com Inc. | 2.73% | 3,214,520 | $705.2M | Add +0.9% |
| META Meta Platforms Inc. Class A | 2.11% | 737,038 | $544.0M | Add +0.5% |
| AVGO Broadcom Inc. | 1.61% | 1,502,835 | $414.3M | Add +0.3% |
| INDA iShares MSCI India ETF | 1.50% | 6,929,746 | $385.8M | Add +2067.3% |
| GOOGL Alphabet Inc. Class A | 1.34% | 1,963,042 | $345.9M | Reduce -0.2% |
| TSLA Tesla Inc. | 1.20% | 974,412 | $309.5M | Add +0.2% |
| GOOG Alphabet Inc. Class C | 1.15% | 1,665,537 | $295.4M | Reduce -0.6% |
| JPM JPMorgan Chase & Co. | 1.06% | 943,981 | $273.7M | Reduce -0.6% |
| SCZ iShares MSCI Eafe Small-Cap | 1.00% | 3,560,557 | $258.8M | No change |
| BRK.B Berkshire Hathaway Inc. Class B | 0.85% | 450,677 | $218.9M | Add +0.0% |
| LLY Eli Lilly & Co. | 0.82% | 271,721 | $211.8M | Reduce -0.0% |
| V Visa Inc. Class A | 0.80% | 583,475 | $207.2M | Reduce -0.1% |
| NFLX Netflix Inc. | 0.75% | 144,223 | $193.1M | Add +0.2% |
| XOM Exxon Mobil Corp. | 0.61% | 1,466,849 | $158.1M | Reduce -1.4% |
| MA Mastercard Inc. Class A | 0.60% | 276,862 | $155.6M | Reduce -0.1% |
| COST Costco Wholesale Corp. | 0.58% | 150,161 | $148.7M | No change |
| WMT Walmart Inc. | 0.57% | 1,494,513 | $146.1M | Reduce -0.1% |
| PG The Procter & Gamble Co. | 0.49% | 798,006 | $127.1M | Reduce -0.2% |
| JNJ Johnson & Johnson | 0.48% | 814,731 | $124.5M | Reduce 0.0% |
| ORCL Oracle Corp. | 0.48% | 566,768 | $123.9M | Add +0.2% |
| HD Home Depot Inc. | 0.48% | 335,449 | $123.0M | Reduce -0.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.44% | 2,419,732 | $114.5M | Add +4.6% |
| ABBV Abbvie Inc. | 0.43% | 595,241 | $110.5M | Add +0.2% |
| SHYG iShares 0-5 YR HY Corp. Bond | 0.40% | 2,403,519 | $103.7M | No change |
| PLTR Palantir Technologies Inc. Class A | 0.38% | 721,389 | $98.3M | Add +1.7% |
| KO The Coca-Cola Co. | 0.38% | 1,382,967 | $97.8M | No change |
| UNH Unitedhealth Group Inc. | 0.37% | 309,162 | $96.4M | Reduce -0.5% |
| PM Philip Morris International | 0.37% | 525,439 | $95.7M | Add +0.1% |
| SJNK SS SPDR BB St Hi Yield ETF | 0.36% | 3,689,415 | $94.0M | Reduce -9.8% |
| CSCO Cisco Systems Inc. | 0.36% | 1,342,745 | $93.2M | Reduce -0.6% |
| GE General Electric filed as GE AEROSPACE | 0.36% | 360,396 | $92.8M | Reduce -1.6% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.36% | 311,761 | $91.9M | Add +0.0% |
| HDB HDFC Bank Ltd.-ADR | 0.35% | 1,170,223 | $89.7M | Add +1.2% |
| WFC Wells Fargo & Co. | 0.34% | 1,102,749 | $88.4M | Reduce -0.5% |
| CRM Salesforce Inc. | 0.34% | 323,225 | $88.1M | No change |
| IWM iShares Russell 2000 ETF | 0.34% | 402,418 | $86.8M | No change |
| CVX Chevron Corp. | 0.31% | 563,411 | $80.7M | Reduce -2.5% |
| ABT Abbott Laboratories | 0.31% | 586,953 | $79.8M | Reduce -0.0% |
| MELI MercadoLibre Inc. | 0.31% | 30,403 | $79.5M | No change |
| SPHY SS SPDR P High Yield ETF | 0.31% | 3,316,858 | $78.9M | Reduce -15.3% |
| PLD Prologis Inc. | 0.30% | 739,742 | $77.8M | Reduce -2.4% |
| AMD Advanced Micro Devices | 0.30% | 545,509 | $77.4M | Reduce -0.0% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.29% | 610,040 | $75.7M | Reduce -0.5% |
| LIN Linde PLC | 0.29% | 159,955 | $75.0M | No change |
| GS Goldman Sachs Group Inc. | 0.29% | 105,146 | $74.4M | No change |
| INTU Intuit Inc. | 0.29% | 94,402 | $74.4M | Reduce -0.0% |
| IGEB iShares Investment Grade SYS | 0.29% | 1,621,932 | $73.7M | No change |
| WELL Welltower Inc. | 0.28% | 468,752 | $72.1M | Add +3.4% |
| NOW ServiceNow Inc. | 0.28% | 69,617 | $71.6M | Add +0.3% |
| MCD McDonald's Corp. | 0.27% | 241,495 | $70.6M | No change |
| T AT&T Inc. | 0.27% | 2,389,613 | $69.2M | Reduce -0.4% |
| MRK Merck & Co. Inc. | 0.26% | 850,055 | $67.3M | Reduce -0.5% |
| RTX RTX Corp. | 0.26% | 450,635 | $65.8M | No change |
| ISRG Intuitive Surgical Inc. | 0.25% | 120,616 | $65.5M | Add +0.3% |
| BKNG Booking Holdings Inc. | 0.25% | 11,123 | $64.4M | Reduce -0.3% |
| TXN Texas Instruments Inc. | 0.25% | 304,909 | $63.3M | Reduce -0.6% |
| ACN Accenture PLC Class A | 0.25% | 211,448 | $63.2M | Reduce -0.1% |
| CAT Caterpillar Inc. | 0.24% | 161,667 | $62.8M | Reduce -1.0% |
| EQIX Equinix Inc. | 0.24% | 78,458 | $62.4M | No change |
| PEP Pepsico Inc. | 0.24% | 464,661 | $61.4M | No change |
| AXP American Express Co. | 0.24% | 190,342 | $60.7M | No change |
| VZ Verizon Communications Inc. | 0.23% | 1,395,033 | $60.4M | Reduce -0.2% |
| UBER Uber Technologies Inc. | 0.23% | 636,202 | $59.4M | Reduce -0.8% |
| QCOM Qualcomm Inc. | 0.23% | 370,234 | $59.0M | Reduce -0.6% |
| MS Morgan Stanley | 0.22% | 406,318 | $57.2M | Add +0.4% |
| SPGI S&P Global Inc. | 0.22% | 106,532 | $56.2M | Reduce -0.5% |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 0.22% | 510,991 | $56.0M | No change |
| ADBE Adobe Inc. | 0.22% | 143,748 | $55.6M | Reduce -2.1% |
| SPIB SS SPDR P Int C Corp. ETF | 0.22% | 1,655,766 | $55.6M | No change |
| INFY Infosys Ltd.-SP ADR | 0.21% | 2,972,657 | $55.1M | Reduce -3.9% |
| SPOT Spotify Technology SA | 0.21% | 70,286 | $53.9M | Reduce -1.0% |
| C Citigroup Inc. | 0.21% | 631,843 | $53.8M | No change |
| BSX Boston Scientific Corp. | 0.21% | 496,086 | $53.3M | Add +0.1% |
| PGR Progressive Corp. | 0.21% | 199,599 | $53.3M | No change |
| BA The Boeing Co. | 0.21% | 253,552 | $53.1M | No change |
| SCHW Schwab (charles) Corp. | 0.21% | 581,976 | $53.1M | No change |
| TMO Thermo Fisher Scientific Inc. | 0.20% | 127,924 | $51.9M | Reduce -0.5% |
| BLK BlackRock Inc. | 0.20% | 49,351 | $51.8M | No change |
| MBB iShares MBS ETF | 0.20% | 550,000 | $51.6M | No change |
| HON Honeywell International Inc. | 0.20% | 218,627 | $50.9M | Reduce -0.3% |
| AMGN Amgen Inc. | 0.20% | 180,502 | $50.4M | Add +0.6% |
| AMAT Applied Materials Inc. | 0.19% | 273,587 | $50.1M | Reduce -1.6% |
| GEV GE Vernova Inc. | 0.19% | 92,890 | $49.2M | Reduce -1.4% |
| NEE Nextera Energy Inc. | 0.19% | 699,255 | $48.5M | No change |
| ETN Eaton Corp. PLC | 0.18% | 133,055 | $47.5M | Reduce -1.2% |
| UNP Union Pacific Corp. | 0.18% | 202,897 | $46.7M | Reduce -1.1% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.18% | 377,069 | $46.6M | Reduce -0.9% |
| GILD Gilead Sciences Inc. | 0.18% | 418,848 | $46.4M | Add +0.3% |
| MU Micron Technology Inc. | 0.18% | 375,664 | $46.3M | Reduce -0.1% |
| PFE Pfizer Inc. | 0.18% | 1,908,030 | $46.3M | Reduce -0.1% |
| DLR Digital Realty Trust Inc. | 0.18% | 262,387 | $45.7M | Add +1.3% |
| SYK Stryker Corp. | 0.18% | 115,340 | $45.6M | No change |
| COF Capital One Financial Corp. | 0.18% | 214,000 | $45.5M | Add +68.0% |
| CMCSA Comcast Corp. Class A | 0.18% | 1,273,274 | $45.4M | Reduce -0.7% |
Portfolio Sells Q1 2025 → Q2 2025
| IEFA iShares Core MSCI Eafe ETF | Sold out | 0.00% | −2.19 |
| AAPL Apple Inc. | Reduce -0.1% | 4.02% | −1.04 |
| UNH Unitedhealth Group Inc. | Reduce -0.5% | 0.37% | −0.36 |
| IEUR iShares Core MSCI Europe ETF | Sold out | 0.00% | −0.30 |
| SRLN SS Blackstone Sr Loan ETF | Reduce -79.0% | 0.06% | −0.29 |
| LLY Eli Lilly & Co. | Reduce -0.0% | 0.82% | −0.19 |
| XOM Exxon Mobil Corp. | Reduce -1.4% | 0.61% | −0.18 |
| JNJ Johnson & Johnson | Reduce 0.0% | 0.48% | −0.13 |
| CVX Chevron Corp. | Reduce -2.5% | 0.31% | −0.12 |
| PG The Procter & Gamble Co. | Reduce -0.2% | 0.49% | −0.12 |
| V Visa Inc. Class A | Reduce -0.1% | 0.80% | −0.12 |
| SPHY SS SPDR P High Yield ETF | Reduce -15.3% | 0.31% | −0.11 |
| SJNK SS SPDR BB St Hi Yield ETF | Reduce -9.8% | 0.36% | −0.10 |
| TMO Thermo Fisher Scientific Inc. | Reduce -0.5% | 0.20% | −0.09 |
| FLHY Franklin High Yield Corporat | Sold out | 0.00% | −0.09 |
| MRK Merck & Co. Inc. | Reduce -0.5% | 0.26% | −0.08 |
| JBBB Janus Henderson B-BBB Clo Et | Reduce -39.6% | 0.09% | −0.08 |
| MA Mastercard Inc. Class A | Reduce -0.1% | 0.60% | −0.08 |
| PLD Prologis Inc. | Reduce -2.4% | 0.30% | −0.08 |
| HD Home Depot Inc. | Reduce -0.1% | 0.48% | −0.08 |
| TMUS T-Mobile US Inc. | Reduce -12.2% | 0.14% | −0.07 |
| DFS Discover Financial Services | Sold out | 0.00% | −0.06 |
| FISV Fiserv Inc. | Reduce -0.6% | 0.13% | −0.06 |
| COP Conocophillips | Reduce -1.4% | 0.15% | −0.06 |
| ACN Accenture PLC Class A | Reduce -0.1% | 0.25% | −0.05 |
| VZ Verizon Communications Inc. | Reduce -0.2% | 0.23% | −0.05 |
| TCOM Trip.com Group Ltd.-ADR | Sold out | 0.00% | −0.04 |
| ABT Abbott Laboratories | Reduce -0.0% | 0.31% | −0.04 |
| INFY Infosys Ltd.-SP ADR | Reduce -3.9% | 0.21% | −0.04 |
| PFE Pfizer Inc. | Reduce -0.1% | 0.18% | −0.04 |
| ADBE Adobe Inc. | Reduce -2.1% | 0.22% | −0.04 |
| ELV Elevance Health Inc. | Reduce -1.9% | 0.12% | −0.04 |
| LOW Lowe's Cos Inc. | Reduce -0.8% | 0.16% | −0.04 |
| T AT&T Inc. | Reduce -0.4% | 0.27% | −0.04 |
| UNP Union Pacific Corp. | Reduce -1.1% | 0.18% | −0.04 |
| CMCSA Comcast Corp. Class A | Reduce -0.7% | 0.18% | −0.04 |
| DHR Danaher Corp. | Reduce -0.2% | 0.17% | −0.03 |
| NTES Netease Inc.-ADR | Sold out | 0.00% | −0.03 |
| GOOG Alphabet Inc. Class C | Reduce -0.6% | 1.15% | −0.03 |
| BABA Alibaba Group Holding-SP ADR | Sold out | 0.00% | −0.03 |
| REGN Regeneron Pharmaceuticals | Reduce -0.1% | 0.07% | −0.03 |
| QCOM Qualcomm Inc. | Reduce -0.6% | 0.23% | −0.03 |
| TJX TJX Companies Inc. | Reduce -0.9% | 0.18% | −0.03 |
| AMT American Tower Corp. | Reduce -1.2% | 0.18% | −0.03 |
| GOOGL Alphabet Inc. Class A | Reduce -0.2% | 1.34% | −0.03 |
| SPGI S&P Global Inc. | Reduce -0.5% | 0.22% | −0.03 |
| UPS United Parcel Service Class B | Reduce -0.7% | 0.10% | −0.03 |
| WMT Walmart Inc. | Reduce -0.1% | 0.57% | −0.02 |
| ORLY O'reilly Automotive Inc. | Reduce -0.6% | 0.10% | −0.02 |
| MDLZ Mondelez International Inc. Class A | Reduce -2.7% | 0.12% | −0.02 |
Portfolio Buys Q1 2025 → Q2 2025
| IEMG iShares Core MSCI Emerging | New | 4.87% | +4.87 |
| VTI VG Morningstar TS MKT ETF-US | Add +105.0% | 4.14% | +2.02 |
| INDA iShares MSCI India ETF | Add +2067.3% | 1.50% | +1.42 |
| AVGO Broadcom Inc. | Add +0.3% | 1.61% | +0.48 |
| META Meta Platforms Inc. Class A | Add +0.5% | 2.11% | +0.21 |
| NFLX Netflix Inc. | Add +0.2% | 0.75% | +0.14 |
| ORCL Oracle Corp. | Add +0.2% | 0.48% | +0.12 |
| PLTR Palantir Technologies Inc. Class A | Add +1.7% | 0.38% | +0.11 |
| COF Capital One Financial Corp. | Add +68.0% | 0.18% | +0.07 |
| TSLA Tesla Inc. | Add +0.2% | 1.20% | +0.07 |
| USHY iShares Broad Usd High Yield | New | 0.06% | +0.06 |
| HOOD Robinhood Markets Inc. Class A | Add +17.7% | 0.09% | +0.05 |
| WNS WNS Holdings Ltd. | New | 0.05% | +0.05 |
| COIN Coinbase Global Inc. Class A | Add +1.9% | 0.09% | +0.04 |
| CEG Constellation Energy | Add +0.0% | 0.13% | +0.04 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +1.0% | 0.16% | +0.03 |
| PHYL Pgim Active High Yield Bond | Add +63.2% | 0.11% | +0.03 |
| MSTR Strategy Inc. | Add +8.9% | 0.13% | +0.03 |
| RBLX Roblox Corp. Class A | Add +8.8% | 0.07% | +0.03 |
| TME Tencent Music Entertainm-ADR | Add +91.9% | 0.05% | +0.03 |
| NU Nu Holdings Ltd./Cayman Isl-A | Add +21.6% | 0.10% | +0.03 |
| NOW ServiceNow Inc. | Add +0.3% | 0.28% | +0.03 |
| NET Cloudflare Inc. Class A | Add +0.8% | 0.08% | +0.03 |
| SNOW Snowflake Inc. | Add +5.6% | 0.09% | +0.03 |
| ARCO Arcos Dorados Holdings Inc. Class A | New | 0.02% | +0.02 |
| APP AppLovin Corp. Class A | Add +10.8% | 0.11% | +0.02 |
| MBSF Regan Floating Rate MBS ETF | New | 0.02% | +0.02 |
| DASH DoorDash Inc. Class A | Add +1.0% | 0.12% | +0.02 |
| CVNA Carvana Co. | Add +3.5% | 0.05% | +0.02 |
| ALAB Astera Labs Inc. | New | 0.02% | +0.02 |
| NRG NRG Energy Inc. | Add +0.6% | 0.04% | +0.01 |
| STX Seagate Technology Holdings | Add +0.2% | 0.04% | +0.01 |
| CORZ Core Scientific Inc. | New | 0.01% | +0.01 |
| SMR Nuscale Power Corp. | New | 0.01% | +0.01 |
| ZS Zscaler Inc. | Add +1.0% | 0.04% | +0.01 |
| DLR Digital Realty Trust Inc. | Add +1.3% | 0.18% | +0.01 |
| CRDO Credo Technology Group Holdi | Add +3.8% | 0.02% | +0.01 |
| BAC Bank of America Corp. | Add +4.6% | 0.44% | +0.01 |
| MS Morgan Stanley | Add +0.4% | 0.22% | +0.01 |
| RKLB Rocket Lab Corp. | Add +10.2% | 0.02% | +0.01 |
| SLG SL Green Realty Corp. | Add +123.2% | 0.02% | +0.01 |
| CALX Calix Inc. | New | 0.01% | +0.01 |
| DRS Leonardo DRS Inc. | New | 0.01% | +0.01 |
| AGYS Agilysys Inc. | New | 0.01% | +0.01 |
| AGX Argan Inc. | New | 0.01% | +0.01 |
| CLSK Cleanspark Inc. | New | 0.01% | +0.01 |
| OI O-I Glass Inc. | New | 0.01% | +0.01 |
| ECG Everus Construction Group | New | 0.01% | +0.01 |
| CTRE Caretrust REIT Inc. | New | 0.01% | +0.01 |
| SE Sea Ltd.-ADR | Add +2.2% | 0.11% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,717 | $29.3B | NVDA, AAPL, IEMG, MSFT, VNQ |
| Q1 2026 | 1,548 | $25.9B | NVDA, AAPL, MSFT, IEMG, VNQ |
| Q4 2025 | 1,471 | $27.7B | NVDA, IEMG, AAPL, MSFT, VNQ |
| Q3 2025 | 1,460 | $27.2B | NVDA, IEMG, AAPL, MSFT, VNQ |
| Q2 2025 | 1,473 | $25.8B | NVDA, IEMG, MSFT, VTI, AAPL |
| Q1 2025 | 1,499 | $22.2B | AAPL, NVDA, MSFT, VNQ, AMZN |
| Q4 2024 | 1,540 | $24.8B | AAPL, NVDA, MSFT, AMZN, VTI |
| Q3 2024 | 1,528 | $24.3B | AAPL, MSFT, NVDA, AMZN, IEFA |
| Q2 2024 | 1,515 | $22.9B | MSFT, AAPL, NVDA, VTI, AMZN |
| Q1 2024 | 1,548 | $33.1B | MSFT, AAPL, NVDA, AMZN, IEFA |