# Employees Retirement System of Texas

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1398739. Source: https://holderbook.com/funds/1398739-employees-retirement-system-of-texas/

- Reported value: $12.6B
- Positions: 511
- Weight of the ten largest: 40.4%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| VANGUARD SCOTTSDALE FDS | [VGIT](https://holderbook.com/stocks/VGIT/) | $1.4B | 23,386,000 | 11.0% | 10 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $654.7M | 3,271,822 | 5.2% | 31 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $612.6M | 2,116,984 | 4.9% | 22 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $481.3M | 1,290,234 | 3.8% | 31 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $440.3M | 1,847,315 | 3.5% | 31 |
| DBX ETF TR | [HYLB](https://holderbook.com/stocks/HYLB/) | $415.3M | 11,372,000 | 3.3% | 10 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $380.3M | 1,076,258 | 3.0% | 5 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $298.4M | 790,055 | 2.4% | 31 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $212.1M | 365,075 | 1.7% | 3 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $210.7M | 617,726 | 1.7% | 28 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $198.3M | 352,086 | 1.6% | 31 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $178.1M | 498,268 | 1.4% | 31 |
| VANGUARD INTL EQUITY INDEX F | [VGK](https://holderbook.com/stocks/VGK/) | $176.8M | 1,997,090 | 1.4% | 2 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $170.9M | 142,500 | 1.4% | 31 |
| WESTERN DIGITAL CORP | [WDC](https://holderbook.com/stocks/WDC/) | $167.1M | 261,689 | 1.3% | 2 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $165.3M | 504,900 | 1.3% | 22 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $159.5M | 310,608 | 1.3% | 31 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $157.8M | 1,154,357 | 1.3% | 31 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $151.1M | 440,354 | 1.2% | 31 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $144.4M | 343,313 | 1.1% | 26 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $139.3M | 2,445,089 | 1.1% | 5 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $133.1M | 115,273 | 1.1% | 3 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $128.1M | 1,798,331 | 1.0% | 14 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $124.7M | 490,900 | 1.0% | 1 |
| FREEPORT-MCMORAN INC | [FCX](https://holderbook.com/stocks/FCX/) | $121.7M | 1,935,702 | 1.0% | 25 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $121.5M | 114,114 | 1.0% | 2 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $118.6M | 164,101 | 0.9% | 1 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $112.8M | 448,200 | 0.9% | 2 |
| SPDR SERIES TRUST | [XBI](https://holderbook.com/stocks/XBI/) | $107.1M | 676,872 | 0.9% | 12 |
| MORGAN STANLEY | [MS](https://holderbook.com/stocks/MS/) | $106.3M | 508,300 | 0.8% | 27 |
| ARISTA NETWORKS INC | [ANET](https://holderbook.com/stocks/ANET/) | $106.2M | 624,891 | 0.8% | 5 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $105.3M | 253,319 | 0.8% | 11 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $104.7M | 296,775 | 0.8% | 5 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $103.4M | 912,700 | 0.8% | 12 |
| PHILIP MORRIS INTL INC | [PM](https://holderbook.com/stocks/PM/) | $102.5M | 566,479 | 0.8% | 10 |
| CADENCE DESIGN SYSTEM INC | [CDNS](https://holderbook.com/stocks/CDNS/) | $98.3M | 261,857 | 0.8% | 11 |
| SCHWAB CHARLES CORP | [SCHW](https://holderbook.com/stocks/SCHW/) | $97.7M | 1,059,367 | 0.8% | 6 |
| NEWMONT CORP | [NEM](https://holderbook.com/stocks/NEM/) | $96.1M | 1,028,934 | 0.8% | 25 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $94.4M | 100,933 | 0.8% | 31 |
| PARKER-HANNIFIN CORP | [PH](https://holderbook.com/stocks/PH/) | $92.9M | 94,986 | 0.7% | 11 |
| AMETEK INC | [AME](https://holderbook.com/stocks/AME/) | $91.8M | 379,304 | 0.7% | 3 |
| FASTENAL CO | [FAST](https://holderbook.com/stocks/FAST/) | $90.3M | 1,880,754 | 0.7% | 5 |
| FIFTH THIRD BANCORP | [FITB](https://holderbook.com/stocks/FITB/) | $90.2M | 1,600,100 | 0.7% | 11 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $87.9M | 1,081,300 | 0.7% | 22 |
| ALLY FINL INC | [ALLY](https://holderbook.com/stocks/ALLY/) | $83.8M | 1,824,746 | 0.7% | 11 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $80.7M | 161,033 | 0.6% | 8 |
| INTUITIVE SURGICAL INC | [ISRG](https://holderbook.com/stocks/ISRG/) | $80.5M | 202,332 | 0.6% | 5 |
| NXP SEMICONDUCTORS N V | [NXPI](https://holderbook.com/stocks/NXPI/) | $79.7M | 283,762 | 0.6% | 31 |
| ENTERGY CORP NEW | [ETR](https://holderbook.com/stocks/ETR/) | $75.8M | 659,975 | 0.6% | 21 |
| EATON CORP PLC | [ETN](https://holderbook.com/stocks/ETN/) | $73.4M | 172,333 | 0.6% | 23 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $73.0M | 481,988 | 0.6% | 31 |
| EQUINIX INC | [EQIX](https://holderbook.com/stocks/EQIX/) | $73.0M | 70,050 | 0.6% | 22 |
| TRANE TECHNOLOGIES PLC | [TT](https://holderbook.com/stocks/TT/) | $72.8M | 148,289 | 0.6% | 5 |
| WEC ENERGY GROUP INC | [WEC](https://holderbook.com/stocks/WEC/) | $71.9M | 615,533 | 0.6% | 24 |
| MOTOROLA SOLUTIONS INC | [MSI](https://holderbook.com/stocks/MSI/) | $70.0M | 168,624 | 0.6% | 31 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $69.7M | 206,108 | 0.6% | 31 |
| DELTA AIR LINES INC | [DAL](https://holderbook.com/stocks/DAL/) | $66.9M | 714,148 | 0.5% | 1 |
| CARNIVAL CORP LTD | [CCL](https://holderbook.com/stocks/CCL/) | $64.6M | 2,261,500 | 0.5% | 1 |
| MONSTER BEVERAGE CORP NEW | [MNST](https://holderbook.com/stocks/MNST/) | $64.2M | 667,849 | 0.5% | 5 |
| VERTIV HOLDINGS CO | [VRT](https://holderbook.com/stocks/VRT/) | $63.9M | 190,982 | 0.5% | 8 |
| SLB LIMITED | [SLB](https://holderbook.com/stocks/SLB/) | $63.3M | 1,360,570 | 0.5% | 24 |
| HYATT HOTELS CORP | [H](https://holderbook.com/stocks/H/) | $61.9M | 319,400 | 0.5% | 1 |
| HARTFORD INSURANCE GROUP INC | [HIG](https://holderbook.com/stocks/HIG/) | $61.3M | 462,707 | 0.5% | 31 |
| STRYKER CORPORATION | [SYK](https://holderbook.com/stocks/SYK/) | $60.8M | 193,102 | 0.5% | 8 |
| MEDTRONIC PLC | [MDT](https://holderbook.com/stocks/MDT/) | $60.7M | 776,505 | 0.5% | 31 |
| T-MOBILE US INC | [TMUS](https://holderbook.com/stocks/TMUS/) | $60.2M | 358,712 | 0.5% | 11 |
| VENTAS INC | [VTR](https://holderbook.com/stocks/VTR/) | $58.9M | 663,205 | 0.5% | 22 |
| PROLOGIS INC. | [PLD](https://holderbook.com/stocks/PLD/) | $58.4M | 431,267 | 0.5% | 31 |
| OLD DOMINION FREIGHT LINE IN | [ODFL](https://holderbook.com/stocks/ODFL/) | $57.6M | 265,931 | 0.5% | 22 |
| SERVICENOW INC | [NOW](https://holderbook.com/stocks/NOW/) | $57.5M | 579,631 | 0.5% | 11 |
| ENERGY TRANSFER L P | [ET](https://holderbook.com/stocks/ET/) | $56.7M | 2,966,911 | 0.5% | 6 |
| INTERCONTINENTAL EXCHANGE IN | [ICE](https://holderbook.com/stocks/ICE/) | $55.6M | 451,303 | 0.4% | 11 |
| ISHARES INC | [EWJ](https://holderbook.com/stocks/EWJ/) | $55.3M | 592,400 | 0.4% | 2 |
| TRANSDIGM GROUP INC | [TDG](https://holderbook.com/stocks/TDG/) | $50.6M | 37,987 | 0.4% | 22 |
| ISHARES GOLD TR | [IAU](https://holderbook.com/stocks/IAU/) | $50.1M | 663,500 | 0.4% | 3 |
| WASTE MGMT INC DEL | [WM](https://holderbook.com/stocks/WM/) | $47.7M | 213,839 | 0.4% | 17 |
| CHENIERE ENERGY INC | [LNG](https://holderbook.com/stocks/LNG/) | $46.9M | 196,240 | 0.4% | 22 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $44.2M | 316,752 | 0.4% | 1 |
| PUBLIC STORAGE | [PSA](https://holderbook.com/stocks/PSA/) | $43.4M | 136,358 | 0.3% | 31 |
| AMPHENOL CORP | [APH](https://holderbook.com/stocks/APH/) | $39.5M | 223,954 | 0.3% | 5 |
| NISOURCE INC | [NI](https://holderbook.com/stocks/NI/) | $38.9M | 819,029 | 0.3% | 20 |
| PGIM ETF TR | [PAAA](https://holderbook.com/stocks/PAAA/) | $38.5M | 750,000 | 0.3% | 3 |
| BOEING CO | [BA](https://holderbook.com/stocks/BA/) | $38.2M | 176,701 | 0.3% | 6 |
| DEXCOM INC | [DXCM](https://holderbook.com/stocks/DXCM/) | $36.3M | 538,893 | 0.3% | 3 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $32.7M | 75,560 | 0.3% | 5 |
| ASML HLDG NV | [ASML](https://holderbook.com/stocks/ASML/) | $27.4M | 13,761 | 0.2% | 4 |
| STARBUCKS CORP | [SBUX](https://holderbook.com/stocks/SBUX/) | $25.5M | 250,000 | 0.2% | 1 |
| SANDISK CORP | [SNDK](https://holderbook.com/stocks/SNDK/) | $23.9M | 10,494 | 0.2% | 5 |
| LINDE PLC | [LIN](https://holderbook.com/stocks/LIN/) | $20.2M | 39,001 | 0.2% | 5 |
| CHUBB LIMITED | [CB](https://holderbook.com/stocks/CB/) | $18.4M | 54,013 | 0.1% | 31 |
| ADOBE INC | [ADBE](https://holderbook.com/stocks/ADBE/) | $18.4M | 89,675 | 0.1% | 5 |
| EDWARDS LIFESCIENCES CORP | [EW](https://holderbook.com/stocks/EW/) | $18.0M | 199,455 | 0.1% | 5 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $16.8M | 35,250 | 0.1% | 5 |
| FORTINET INC | [FTNT](https://holderbook.com/stocks/FTNT/) | $14.9M | 96,877 | 0.1% | 5 |
| PROGRESSIVE CORP | [PGR](https://holderbook.com/stocks/PGR/) | $14.6M | 66,864 | 0.1% | 8 |
| ISHARES INC | [EMXC](https://holderbook.com/stocks/EMXC/) | $14.0M | 137,000 | 0.1% | 3 |
| SPACE EXPLORATION TECHN CORP | [SPCX](https://holderbook.com/stocks/SPCX/) | $13.9M | 81,648 | 0.1% | 1 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $13.6M | 141,674 | 0.1% | 31 |
| BECTON DICKINSON & CO | [BDX](https://holderbook.com/stocks/BDX/) | $11.8M | 77,752 | 0.1% | 3 |
| NOKIA CORP | [NOK](https://holderbook.com/stocks/NOK/) | $11.0M | 828,742 | 0.1% | 8 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +9.5% | +14.8% | -5.4% | 100% |
| Q1 2026 | -4.3% | -4.6% | +0.3% | 100% |
| Q4 2025 | +1.1% | +2.4% | -1.2% | 100% |
| Q3 2025 | +5.2% | +7.8% | -2.6% | 100% |
| Q2 2025 | +9.3% | +10.5% | -1.2% | 100% |
| Q1 2025 | -3.6% | -4.6% | +1.0% | 100% |
| Q4 2024 | +1.5% | +2.1% | -0.6% | 100% |
| Q3 2024 | +4.7% | +5.4% | -0.7% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $12.6B | 511 |
| Q1 2026 | $11.4B | 493 |
| Q4 2025 | $12.3B | 496 |
| Q3 2025 | $12.5B | 507 |
| Q2 2025 | $12.3B | 523 |
| Q1 2025 | $11.0B | 264 |
| Q4 2024 | $11.7B | 311 |
| Q3 2024 | $11.6B | 334 |
| Q2 2024 | $10.7B | 315 |
| Q1 2024 | $9.2B | 328 |
| Q4 2023 | $8.5B | 340 |
| Q3 2023 | $6.7B | 297 |