Utah Retirement Systems
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Utah Retirement Systems reported 977 stock positions worth $9.1 billion. Its top holding was Apple (AAPL) at 6.6% of the portfolio, followed by Nvidia (NVDA, 5.7%) and Microsoft (MSFT, 5.7%). Compared with Q3 2024, it opened 9 new positions, sold out of 19, added to 293 and reduced 140. The biggest buy was Tesla (TSLA, shares +0%) and the biggest sale General Electric (GE, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- SALT LAKE CITY, UT
- CIK
- 0001548392
- Portfolio Value
- $9.1B (Q4 2024)
- SEC Filing
- 0001085146-25-001720 ↗ filed Feb 14, 2025
Holdings Value
Holdings 977 stocks · $9.1B
| AAPL Apple Inc. | 6.55% | 2,374,639 | $594.7M | Reduce -1.3% |
| NVDA Nvidia Corp. | 5.74% | 3,882,580 | $521.4M | Add +0.2% |
| MSFT Microsoft Corp. | 5.73% | 1,233,875 | $520.1M | Add +0.2% |
| AMZN Amazon.com Inc. | 3.76% | 1,557,265 | $341.6M | Add +1.3% |
| META Meta Platforms Inc. Class A | 2.34% | 363,544 | $212.9M | Add +0.2% |
| TSLA Tesla Inc. | 2.05% | 461,092 | $186.2M | Add +0.2% |
| GOOGL Alphabet Inc. Class A | 2.03% | 974,520 | $184.5M | Add +0.2% |
| AVGO Broadcom Inc. | 1.93% | 754,400 | $174.9M | Add +0.2% |
| GOOG Alphabet Inc. Class C | 1.69% | 805,793 | $153.5M | Reduce -1.1% |
| JPM JPMorgan Chase & Co. | 1.23% | 466,069 | $111.7M | Reduce -1.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.23% | 245,326 | $111.2M | Add +0.6% |
| LLY Eli Lilly & Co. | 1.13% | 132,799 | $102.5M | Add +0.3% |
| V Visa Inc. Class A | 0.91% | 261,433 | $82.6M | Add +0.2% |
| XOM Exxon Mobil Corp. | 0.88% | 744,561 | $80.1M | Add +0.2% |
| UNH Unitedhealth Group Inc. | 0.85% | 152,554 | $77.2M | Add +0.2% |
| MA Mastercard Inc. Class A | 0.78% | 135,241 | $71.2M | Reduce -1.1% |
| COST Costco Wholesale Corp. | 0.74% | 73,552 | $67.4M | Add +0.2% |
| PG The Procter & Gamble Co. | 0.72% | 391,499 | $65.6M | Add +0.3% |
| WMT Walmart Inc. | 0.72% | 720,061 | $65.1M | Add +0.2% |
| HD Home Depot Inc. | 0.71% | 164,568 | $64.0M | Add +0.2% |
| NFLX Netflix Inc. | 0.70% | 71,024 | $63.3M | Add +0.3% |
| JNJ Johnson & Johnson | 0.64% | 400,211 | $57.9M | Add +0.2% |
| ABBV Abbvie Inc. | 0.58% | 293,926 | $52.2M | Add +0.2% |
| CRM Salesforce Inc. | 0.56% | 153,286 | $51.2M | Reduce -1.2% |
| AVB Avalonbay Communities Inc. | 0.55% | 226,696 | $49.9M | No change |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.53% | 1,104,689 | $48.6M | Reduce -1.7% |
| ORCL Oracle Corp. | 0.48% | 260,641 | $43.4M | Add +0.3% |
| MRK Merck & Co. Inc. | 0.46% | 420,710 | $41.9M | Add +0.2% |
| CVX Chevron Corp. | 0.46% | 285,827 | $41.4M | Add +0.3% |
| KO The Coca-Cola Co. | 0.44% | 644,106 | $40.1M | Add +0.2% |
| CSCO Cisco Systems Inc. | 0.43% | 662,263 | $39.2M | Reduce -1.3% |
| WFC Wells Fargo & Co. | 0.43% | 552,745 | $38.8M | Reduce -4.7% |
| ACN Accenture PLC Class A | 0.40% | 104,078 | $36.6M | Add +0.2% |
| NOW ServiceNow Inc. | 0.40% | 34,038 | $36.1M | Add +0.2% |
| PEP Pepsico Inc. | 0.38% | 227,964 | $34.7M | Add +0.2% |
| MCD McDonald's Corp. | 0.38% | 119,512 | $34.6M | Add +0.3% |
| GRNT Granite Ridge Resources Inc. | 0.37% | 5,243,683 | $33.9M | No change |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.37% | 301,295 | $33.5M | Reduce -0.8% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.37% | 152,205 | $33.5M | Add +0.3% |
| LIN Linde PLC | 0.37% | 79,706 | $33.4M | Add +0.2% |
| TMO Thermo Fisher Scientific Inc. | 0.36% | 63,342 | $33.0M | Add +0.2% |
| ADBE Adobe Inc. | 0.36% | 73,580 | $32.7M | Add +0.3% |
| ABT Abbott Laboratories | 0.36% | 286,846 | $32.4M | Add +0.2% |
| AMD Advanced Micro Devices | 0.36% | 267,044 | $32.3M | Add +0.2% |
| UDR Udr Inc. | 0.35% | 724,417 | $31.4M | Add +0.0% |
| PM Philip Morris International | 0.34% | 257,775 | $31.0M | Add +0.2% |
| ISRG Intuitive Surgical Inc. | 0.34% | 58,606 | $30.6M | Add +0.2% |
| GE General Electric filed as GE AEROSPACE | 0.33% | 178,599 | $29.8M | Reduce -0.8% |
| CAT Caterpillar Inc. | 0.32% | 81,115 | $29.4M | Add +0.2% |
| GS Goldman Sachs Group Inc. | 0.32% | 50,899 | $29.1M | Reduce -2.4% |
| INTU Intuit Inc. | 0.31% | 45,335 | $28.5M | Add +0.2% |
| QCOM Qualcomm Inc. | 0.31% | 185,257 | $28.5M | Add +0.3% |
| TXN Texas Instruments Inc. | 0.31% | 151,024 | $28.3M | Add +0.3% |
| VZ Verizon Communications Inc. | 0.31% | 698,748 | $27.9M | Add +0.2% |
| AXP American Express Co. | 0.30% | 93,022 | $27.6M | Add +0.1% |
| BKNG Booking Holdings Inc. | 0.30% | 5,494 | $27.3M | Reduce -2.5% |
| T AT&T Inc. | 0.30% | 1,188,484 | $27.1M | No change |
| BRK.A Berkshire Hathaway Inc. Class A | 0.29% | 39 | $26.6M | No change |
| SPGI S&P Global Inc. | 0.28% | 51,950 | $25.9M | Add +0.4% |
| RTX RTX Corp. | 0.28% | 220,462 | $25.5M | Add +0.2% |
| PLTR Palantir Technologies Inc. Class A | 0.28% | 333,600 | $25.2M | Add +0.3% |
| BLK BlackRock Inc. | 0.28% | 24,492 | $25.1M | Add +0.3% |
| PFE Pfizer Inc. | 0.27% | 940,568 | $25.0M | Add +0.3% |
| DHR Danaher Corp. | 0.27% | 107,121 | $24.6M | Add +0.3% |
| NEE Nextera Energy Inc. | 0.27% | 340,962 | $24.4M | Add +0.2% |
| HON Honeywell International Inc. | 0.27% | 108,096 | $24.4M | Add +0.4% |
| MS Morgan Stanley | 0.27% | 192,568 | $24.2M | Add +0.3% |
| CMCSA Comcast Corp. Class A | 0.26% | 629,633 | $23.6M | Reduce -0.9% |
| LOW Lowe's Cos Inc. | 0.26% | 95,055 | $23.5M | Add +0.3% |
| PGR Progressive Corp. | 0.26% | 96,989 | $23.2M | Add +0.3% |
| AMGN Amgen Inc. | 0.26% | 88,961 | $23.2M | Add +0.2% |
| UNP Union Pacific Corp. | 0.25% | 101,273 | $23.1M | Add +0.3% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.25% | 188,046 | $22.7M | Add +0.3% |
| AMAT Applied Materials Inc. | 0.25% | 138,057 | $22.5M | Add +0.3% |
| C Citigroup Inc. | 0.24% | 313,965 | $22.1M | Reduce -1.0% |
| BSX Boston Scientific Corp. | 0.24% | 243,690 | $21.8M | Add +0.3% |
| ETN Eaton Corp. PLC | 0.24% | 65,473 | $21.7M | Reduce -0.9% |
| SYK Stryker Corp. | 0.24% | 59,976 | $21.6M | Add +0.2% |
| COP Conocophillips | 0.23% | 214,631 | $21.3M | Add +10.8% |
| BA The Boeing Co. | 0.23% | 117,339 | $20.8M | Add +22.1% |
| BX Blackstone Inc. | 0.23% | 119,700 | $20.6M | Add +2.5% |
| UBER Uber Technologies Inc. | 0.22% | 337,246 | $20.3M | Add +1.4% |
| ADP Automatic Data Processing | 0.22% | 68,210 | $20.0M | Add +0.3% |
| PANW Palo Alto Networks Inc. | 0.22% | 107,510 | $19.6M | Add +5.5% |
| FISV Fiserv Inc. | 0.21% | 93,960 | $19.3M | Reduce -0.9% |
| GILD Gilead Sciences Inc. | 0.21% | 207,051 | $19.1M | Add +0.3% |
| BMY Bristol-Myers Squibb Co. | 0.21% | 336,430 | $19.0M | Add +0.3% |
| RY Royal Bank of Canada | 0.21% | 157,891 | $19.0M | No change |
| ANET Arista Networks Inc. | 0.21% | 170,948 | $18.9M | Add +0.3% |
| CB Chubb Ltd. | 0.20% | 67,179 | $18.6M | Add +0.5% |
| SCHW Schwab (charles) Corp. | 0.20% | 247,370 | $18.3M | Add +0.3% |
| DE Deere & Co. | 0.20% | 41,835 | $17.7M | Add +0.2% |
| TMUS T-Mobile US Inc. | 0.19% | 80,094 | $17.7M | No change |
| ADI Analog Devices Inc. | 0.19% | 82,060 | $17.4M | Add +0.1% |
| MRSH Marsh & McLennan Cos | 0.19% | 81,721 | $17.4M | Add +0.3% |
| VRTX Vertex Pharmaceuticals Inc. | 0.19% | 42,903 | $17.3M | Add +0.2% |
| SBUX Starbucks Corp. | 0.19% | 188,004 | $17.2M | Add +0.3% |
| INVH Invitation Homes Inc. | 0.19% | 536,340 | $17.1M | No change |
| LMT Lockheed Martin Corp. | 0.19% | 35,007 | $17.0M | Reduce -0.8% |
| MDT Medtronic PLC | 0.19% | 212,860 | $17.0M | Add +0.2% |
Portfolio Sells Q3 2024 → Q4 2024
| GE General Electric | Reduce -0.8% | 0.33% | −0.05 |
| LMT Lockheed Martin Corp. | Reduce -0.8% | 0.19% | −0.05 |
| CI The Cigna Group | Reduce -1.7% | 0.14% | −0.04 |
| HCA HCA Healthcare Inc. | Reduce -1.9% | 0.10% | −0.04 |
| CMCSA Comcast Corp. Class A | Reduce -0.9% | 0.26% | −0.04 |
| SMCI Super Micro Computer Inc. | Sold out | 0.00% | −0.04 |
| NKE Nike Inc. Class B | Reduce -1.4% | 0.16% | −0.03 |
| DHI D.R. Horton Inc. | Reduce -1.2% | 0.07% | −0.03 |
| NEM Newmont Corp. | Reduce -0.3% | 0.06% | −0.03 |
| LRCX Lam Research Corp. | Reduce -1.3% | 0.17% | −0.03 |
| MRO Marathon Oil Corp. | Sold out | 0.00% | −0.03 |
| LEN Lennar Corp. Class A | Reduce -0.8% | 0.06% | −0.02 |
| MPC Marathon Petroleum Corp. | Reduce -4.8% | 0.09% | −0.02 |
| CTLT Catalent Inc. | Sold out | 0.00% | −0.02 |
| CNC Centene Corp. | Reduce -3.8% | 0.06% | −0.02 |
| PSX Phillips 66 | Reduce -1.2% | 0.09% | −0.02 |
| NUE Nucor Corp. | Reduce -0.8% | 0.05% | −0.02 |
| IDXX Idexx Laboratories Inc. | Reduce -1.5% | 0.06% | −0.02 |
| URI United Rentals Inc. | Reduce -1.2% | 0.08% | −0.02 |
| PHM Pultegroup Inc. | Reduce -0.9% | 0.04% | −0.01 |
| BLDR Builders Firstsource Inc. | Reduce -4.0% | 0.03% | −0.01 |
| CNI Canadian Natl Railway Co. | Reduce -0.8% | 0.07% | −0.01 |
| SLB SLB Ltd. | Reduce -0.9% | 0.10% | −0.01 |
| MMM 3M Co. | Reduce -1.3% | 0.13% | −0.01 |
| CSX CSX Corp. | Reduce -1.1% | 0.11% | −0.01 |
| OTIS Otis Worldwide Corp. | Reduce -1.1% | 0.07% | −0.01 |
| A Agilent Technologies Inc. | Reduce -1.6% | 0.07% | −0.01 |
| APTV Aptiv PLC | Reduce -13.4% | 0.03% | −0.01 |
| ODFL Old Dominion Freight Line | Reduce -1.2% | 0.06% | −0.01 |
| VLO Valero Energy Corp. | Reduce -0.9% | 0.07% | −0.01 |
| CNQ Canadian Natural Resources | Reduce -1.5% | 0.08% | −0.01 |
| ITW Illinois Tool Works | Reduce -1.0% | 0.14% | −0.01 |
| BALL Ball Corp. | Reduce -3.9% | 0.03% | −0.01 |
| BAH Booz Allen Hamilton Holdings | Reduce -1.4% | 0.03% | −0.01 |
| ON On Semiconductor | Reduce -0.6% | 0.05% | −0.01 |
| TECK Teck Resources Ltd.-CLS B | Reduce -1.2% | 0.03% | −0.01 |
| CSL Carlisle Cos Inc. | Reduce -1.8% | 0.03% | −0.01 |
| HPQ HP Inc. | Reduce -1.2% | 0.06% | −0.01 |
| ETN Eaton Corp. PLC | Reduce -0.9% | 0.24% | −0.01 |
| FIS Fidelity National Info Serv | Reduce -2.6% | 0.08% | −0.01 |
| EBAY eBay Inc. | Reduce -5.0% | 0.05% | −0.01 |
| PPG PPG Industries Inc. | Reduce -0.5% | 0.05% | −0.01 |
| MOH Molina Healthcare Inc. | Reduce -1.1% | 0.03% | −0.01 |
| HIG Hartford Insurance Group Inc. | Reduce -0.8% | 0.06% | −0.01 |
| LDOS Leidos Holdings Inc. | Reduce -1.3% | 0.04% | −0.01 |
| TOL Toll Brothers Inc. | Reduce -0.6% | 0.02% | −0.01 |
| MAS Masco Corp. | Reduce -1.4% | 0.03% | −0.01 |
| STLD Steel Dynamics Inc. | Reduce -2.4% | 0.03% | −0.00 |
| PFG Principal Financial Group | Reduce -0.8% | 0.03% | −0.00 |
| SWN Southwestern Energy Co. | Sold out | 0.00% | −0.00 |
Portfolio Buys Q3 2024 → Q4 2024
| TSLA Tesla Inc. | Add +0.2% | 2.05% | +0.69 |
| AMZN Amazon.com Inc. | Add +1.3% | 3.76% | +0.53 |
| AVGO Broadcom Inc. | Add +0.2% | 1.93% | +0.46 |
| NVDA Nvidia Corp. | Add +0.2% | 5.74% | +0.44 |
| GOOGL Alphabet Inc. Class A | Add +0.2% | 2.03% | +0.21 |
| PLTR Palantir Technologies Inc. Class A | Add +0.3% | 0.28% | +0.14 |
| APP AppLovin Corp. Class A | Add +212.8% | 0.16% | +0.14 |
| NFLX Netflix Inc. | Add +0.3% | 0.70% | +0.13 |
| V Visa Inc. Class A | Add +0.2% | 0.91% | +0.10 |
| IWB iShares Russell 1000 ETF | Add +108.5% | 0.16% | +0.08 |
| BA The Boeing Co. | Add +22.1% | 0.23% | +0.06 |
| WMT Walmart Inc. | Add +0.2% | 0.72% | +0.06 |
| MRVL Marvell Technology Inc. | Add +0.1% | 0.17% | +0.06 |
| NOW ServiceNow Inc. | Add +0.2% | 0.40% | +0.05 |
| FERG Ferguson Enterprises Inc. | Add +233.7% | 0.07% | +0.04 |
| MS Morgan Stanley | Add +0.3% | 0.27% | +0.04 |
| SPOT Spotify Technology SA | Add +16.4% | 0.14% | +0.04 |
| SHOP Shopify Inc. Class A | Add +0.1% | 0.16% | +0.04 |
| APO Apollo Global Management Inc. | Add +0.5% | 0.16% | +0.04 |
| GEV GE Vernova Inc. | Add +0.2% | 0.16% | +0.03 |
| SMCI Super Micro Computer Inc. | New | 0.03% | +0.03 |
| BX Blackstone Inc. | Add +2.5% | 0.23% | +0.03 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +1.7% | 0.14% | +0.03 |
| TEAM Atlassian Corp. Class A | Add +1.1% | 0.07% | +0.02 |
| ANET Arista Networks Inc. | Add +0.3% | 0.21% | +0.02 |
| COIN Coinbase Global Inc. Class A | Add +1.0% | 0.09% | +0.02 |
| EXE Expand Energy Corp. | Add +73.7% | 0.04% | +0.02 |
| SCHW Schwab (charles) Corp. | Add +0.3% | 0.20% | +0.02 |
| RCL Royal Caribbean Cruises Ltd. | Add +0.3% | 0.10% | +0.02 |
| HOOD Robinhood Markets Inc. Class A | Add +10.5% | 0.05% | +0.02 |
| AXP American Express Co. | Add +0.1% | 0.30% | +0.02 |
| PANW Palo Alto Networks Inc. | Add +5.5% | 0.22% | +0.02 |
| HON Honeywell International Inc. | Add +0.4% | 0.27% | +0.02 |
| KKR KKR & Co. Inc. | Add +0.2% | 0.18% | +0.02 |
| FTNT Fortinet Inc. | Add +0.2% | 0.11% | +0.02 |
| COF Capital One Financial Corp. | Add +0.2% | 0.12% | +0.02 |
| KMI Kinder Morgan Inc. | Add +0.2% | 0.10% | +0.02 |
| XYZ Block Inc. | Add +0.2% | 0.09% | +0.02 |
| WMB Williams Cos Inc. | Add +0.2% | 0.12% | +0.02 |
| DASH DoorDash Inc. Class A | Add +2.1% | 0.11% | +0.02 |
| GILD Gilead Sciences Inc. | Add +0.3% | 0.21% | +0.02 |
| BLK BlackRock Inc. | Add +0.3% | 0.28% | +0.02 |
| SOFI Sofi Technologies Inc. | Add +2.8% | 0.03% | +0.01 |
| SNOW Snowflake Inc. | Add +0.3% | 0.06% | +0.01 |
| DDOG Datadog Inc. Class A | Add +0.2% | 0.08% | +0.01 |
| BMY Bristol-Myers Squibb Co. | Add +0.3% | 0.21% | +0.01 |
| DFS Discover Financial Services | Add +0.2% | 0.08% | +0.01 |
| RBLX Roblox Corp. Class A | Add +3.1% | 0.06% | +0.01 |
| EMR Emerson Electric Co. | Add +0.4% | 0.13% | +0.01 |
| ISRG Intuitive Surgical Inc. | Add +0.2% | 0.34% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,027 | $10.5B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q1 2026 | 974 | $9.8B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q4 2025 | 983 | $10.5B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q3 2025 | 987 | $10.3B | NVDA, MSFT, AAPL, AMZN, META |
| Q2 2025 | 992 | $9.6B | NVDA, MSFT, AAPL, AMZN, META |
| Q1 2025 | 960 | $8.7B | AAPL, MSFT, NVDA, AMZN, META |
| Q4 2024 | 977 | $9.1B | AAPL, NVDA, MSFT, AMZN, META |
| Q3 2024 | 986 | $8.9B | AAPL, MSFT, NVDA, AMZN, META |
| Q2 2024 | 973 | $8.4B | MSFT, AAPL, NVDA, AMZN, META |
| Q1 2024 | 972 | $8.6B | MSFT, AAPL, NVDA, AMZN, META |