SEC 13F Intelligence

Managers / Q4 2020 · view latest →

Employees Retirement System of Texas

CIK 0001398739 · P.O. BOX 13207, AUSTIN, TX, 78711-3207 · 512-867-7711

Reported Value
$6.3B
Q4 2020
Positions
645
Filings on Record
31
2019–present window
Filed
Feb 11, 2021
original filing

Summary

Employees Retirement System Of Texas reported $6.3B in U.S.-listed holdings across 645 positions for Q4 2020.

Its largest position, MSFT, represents 4.0% of the portfolio.

Compared with Q3 2020, the fund opened 57 new positions and exited 120.

Portfolio Metrics

Turnover
+18.5%
vs prior filed quarter
Top-10 Concentration
+20.4%
share of reported value
Largest Position
+4.0%
Microsoft
New / Exited
57 / 120
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $6.3BQ4 ’18Q1 ’19: $6.6BQ2 ’19: $6.6BQ3 ’19: $6.4BQ4 ’19: $6.4BQ4 ’19Q1 ’20: $5.2BQ2 ’20: $6.6BQ3 ’20: $6.8BQ4 ’20: $6.3BQ4 ’20Q1 ’21: $7.8BQ2 ’21: $8.2BQ3 ’21: $8.6BQ4 ’21: $8.9BQ4 ’21Q1 ’22: $8.4BQ2 ’22: $7.0BQ3 ’22: $6.6BQ4 ’22: $6.9BQ4 ’22Q1 ’23: $6.9BQ2 ’23: $7.3BQ3 ’23: $6.7BQ4 ’23: $8.5BQ4 ’23Q1 ’24: $9.2BQ2 ’24: $10.7BQ3 ’24: $11.6BQ4 ’24: $11.7BQ4 ’24Q1 ’25: $11.0BQ2 ’25: $12.3BQ3 ’25: $12.5BQ4 ’25: $12.3BQ4 ’25Q1 ’26: $11.4Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 84.0%REIT: 8.4%ADR: 3.1%ETP: 2.3%Other: 1.8%Other: 0.4%
  • Common Stock · 84.0% · $5.3B
  • REIT · 8.4% · $533M
  • ADR · 3.1% · $196M
  • ETP · 2.3% · $146M
  • Other · 1.8% · $113M
  • Other · 0.4% · $24M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
PHPARKER-HANNI FIN CORPNEW+66.0K66.0K+$18M$18M
APTIV PLCNEW+104.0K104.0K+$14M$14M
ESSESSEX PPTY TR INCNEW+51.0K51.0K+$12M$12M
SEAGEN INCNEW+68.6K68.6K+$12M$12M
SCHWSCHWAB CHARLES CORPNEW+181.0K181.0K+$10M$10M
ETNEATON CORP PLCNEW+71.0K71.0K+$9M$9M
SNAPSNAP INCNEW+141.0K141.0K+$7M$7M
IJRISHARES TRNEW+73.9K73.9K+$7M$7M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2020

493 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MSFTMICROSOFT CORPhistory →COM4.01%$253M1.14M
2AMZNAMAZON COM INChistory →COM3.73%$236M72.4K
3GOOGALPHABET INCCAP STK CL C · CAP STK CL A3.07%$194M110.5K
4MBBISHARES TRMBS ETF · JPMORGAN USD EMG · CORE S&P SCP ETF · US HOME CONS ETF · GL CLEAN ENE ETF · MSCI EAFE ETF · U.S. REAL ES ETF2.11%$133M1.41M
5METAFACEBOOK INChistory →CL A1.84%$116M425.7K
6TSLATESLA INChistory →COM1.27%$80M114.0K
7PYPLPAY PAL HLDGS INChistory →COM1.11%$70M300.2K
8PGPROCTER AND GAMBLE COhistory →COM1.08%$68M489.9K
9BABAALIBABA GROUP HLDG LTDhistory →SPONSORED ADS1.07%$67M289.0K
10VVISA INChistory →COM CL A1.06%$67M305.8K
11PLDPROLOGIS INC.history →COM1.06%$67M669.8K
12JNJJOHNSON & JOHNSONhistory →COM1.04%$66M416.9K
13CMCSACOMCAST CORP NEWhistory →CL A1.03%$65M1.24M
14BCSFBAIN CAP SPECIALTY FIN INChistory →COM STK1.02%$65M5.32M
15MAMASTERCARD INCORPORATEDhistory →CL A1.00%$63M177.3K
16UNHUNITEDHEALTH GROUP INChistory →COM0.96%$60M172.1K
17NVDANVIDIA CORPORATIONhistory →COM0.87%$55M104.7K
18ADBEADOBE SYSTEMS INCORPORATEDhistory →COM0.80%$51M101.2K
19MDTMEDTRONIC PLChistory →SHS0.80%$50M430.5K
20QCOMQUALCOMM INChistory →COM0.78%$49M323.0K
21AVGOBROADCOM INChistory →COM0.76%$48M109.4K
22HDHOME DEPOT INChistory →COM0.76%$48M179.8K
23BACBK OF AMERICA CORPhistory →COM0.70%$44M1.45M
24DISDISNEY WALT COhistory →COM0.70%$44M242.5K
25BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW0.63%$40M172.4K
26NEENEXTERA ENERGY INChistory →COM0.62%$39M508.0K
27GSGOLDMAN SACHS GROUP INChistory →COM0.62%$39M147.9K
28TXNTEXAS INSTRS INChistory →COM0.60%$38M232.4K
29HONHONEYWELL INTL INChistory →COM0.55%$35M164.7K
30MCDMCDONALDS CORPhistory →COM0.55%$34M160.6K
31ABBVABBVIE INChistory →COM0.54%$34M320.3K
32TMOTHERMO FISHER SCIENTIFIC INChistory →COM0.54%$34M73.0K
33LOWLOWES COS INChistory →COM0.52%$33M204.3K
34WFCWELLS FARGO CO NEWhistory →COM0.52%$33M1.08M
35FDXFEDEX CORPhistory →COM0.52%$33M126.0K
36LLYLILLY ELI & COhistory →COM0.52%$33M192.7K
37MRKMERCK & CO. INChistory →COM0.50%$32M386.7K
38DISCOVER FINL SVCSCOM0.50%$31M347.2K
39ELVANTHEM INChistory →COM0.50%$31M97.8K
40GPNGLOBAL PMTS INChistory →COM0.50%$31M145.7K
41CCITIGROUP INChistory →COM NEW0.49%$31M500.7K
42NKENIKE INChistory →CL B0.47%$30M211.4K
43MSMORGAN STANLEYhistory →COM NEW0.46%$29M423.0K
44AMDADVANCED MICRO DEVICES INChistory →COM0.45%$29M313.2K
45NXPINXP SEMICONDUCTORS N Vhistory →COM0.45%$29M179.8K
46CTVACORTEVA INChistory →COM0.45%$28M728.0K
47MUMICRON TECHNOLOGY INChistory →COM0.45%$28M374.8K
48NFLXNETFLIX INChistory →COM0.43%$27M50.3K
49BLACKROCK INCCOM0.43%$27M37.6K
50NOWSERVICENOW INChistory →COM0.43%$27M49.0K
51WMTWALMART INChistory →COM0.42%$27M184.9K
52LINDE PLCSHS0.42%$27M100.6K
53DDDUPONT DE NEMOURS INChistory →COM0.42%$26M368.5K
54DHRDANAHER CORPORATIONhistory →COM0.41%$26M117.8K
55DEDEERE & COhistory →COM0.41%$26M97.2K
56CHTRCHARTER COMMUNICATIONS INC Nhistory →CL A0.41%$26M39.5K
57EXMOCEXXON MOBIL CORPhistory →COM0.41%$26M629.5K
58AMATAPPLIED MATLS INChistory →COM0.41%$26M297.0K
59RTXRAYTHEON TECHNOLOGIES CORPhistory →COM0.40%$25M355.0K
60CRMSALESFORCE COM INChistory →COM0.40%$25M112.7K
61VZVERIZON COMMUNICATIONS INChistory →COM0.39%$24M416.5K
62ZENDESK INCCOM0.39%$24M169.9K
63AREALEXANDRIA REAL ESTATE EQ INhistory →COM0.38%$24M134.2K
64BMYBRISTOL-MYERS SQUIBB COhistory →COM0.37%$24M379.5K
65KEYSKEYSIGHT TECHNOLOGIES INChistory →COM0.37%$23M176.3K
66COSTCOSTCO WHSL CORP NEWhistory →COM0.37%$23M61.7K
67TGTTARGET CORPhistory →COM0.37%$23M131.0K
68OTISOTIS WORLDWIDE CORPhistory →COM0.34%$21M317.5K
69PFEPFIZER INChistory →COM0.34%$21M578.5K
70CBCHUBB LIMITEDhistory →COM0.34%$21M138.1K
71HUMHUMANA INChistory →COM0.34%$21M51.8K
72TAT&T INChistory →COM0.33%$21M734.6K
73PSAPUBLIC STORAGEhistory →COM0.33%$21M91.0K
74TJXTJX COS INC NEWhistory →COM0.33%$21M306.3K
75PANWPALO ALTO NETWORKS INChistory →COM0.33%$21M58.6K
76EXCEXELON CORPhistory →COM0.33%$21M492.1K
77DLRDIGITAL RLTY TR INChistory →COM0.32%$20M145.3K
78AXPAMERICAN EXPRESS COhistory →COM0.31%$20M163.9K
79TMUST-MOBILE US INChistory →COM0.31%$20M145.9K
80AONAON PLChistory →SHS CL A0.31%$20M92.7K
81ZTSZOETIS INChistory →CL A0.31%$20M118.2K
82DGDOLLAR GEN CORP NEWhistory →COM0.31%$19M92.6K
83AMPAMERIPRISE FINL INChistory →COM0.30%$19M98.0K
84FORUM ENERGY TECHNOLOGIES INNOTE 9.000% 8/00.30%$19M32.72M
85SPGSIMON PPTY GROUP INC NEWhistory →COM0.30%$19M222.6K
86CDNSCADENCE DESIGN SYSTEM INChistory →COM0.30%$19M138.7K
87CMICUMMINS INChistory →COM0.30%$19M83.0K
88PWRQUANTA SVCS INChistory →COM0.30%$19M261.3K
89KANSAS CITY SOUTHERNCOM NEW0.30%$19M91.6K
90TWLOTWILIO INChistory →CL A0.30%$19M55.2K
91LMTLOCKHEED MARTIN CORPhistory →COM0.29%$18M52.1K
92CATALENT INCCOM0.29%$18M177.0K
93URIUNITED RENTALS INChistory →COM0.29%$18M78.5K
94PHPARKER-HANNI FIN CORPhistory →COM0.28%$18M66.0K
95SHWSHERWIN WILLIAMS COhistory →COM0.28%$18M24.2K
96AVBAVALONBAY CMNTYS INChistory →COM0.27%$17M106.7K
97PINSPINTEREST INChistory →CL A0.27%$17M258.0K
98EQREQUITY RESIDENTIALhistory →SH BEN INT0.27%$17M284.0K
99VICIVICI PPTYS INChistory →COM0.27%$17M658.7K
100BABOEING COhistory →COM0.27%$17M78.4K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$11.4B493May 13, 202613F-HRchanges · EDGAR ↗
Q4 2025$12.3B496Feb 9, 202613F-HRchanges · EDGAR ↗
Q3 2025$12.5B507Nov 13, 202513F-HRchanges · EDGAR ↗
Q2 2025$12.3B523Aug 13, 202513F-HRchanges · EDGAR ↗
Q1 2025$11.0B264May 13, 202513F-HRchanges · EDGAR ↗
Q4 2024$11.7B311Feb 28, 2025RESTATEMENTchanges · EDGAR ↗
Q3 2024$11.6B334Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$10.7B315Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$9.2B328May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$8.5B340Feb 15, 202413F-HRchanges · EDGAR ↗
Q3 2023$6.7B297Nov 16, 202313F-HRchanges · EDGAR ↗
Q2 2023$7.3B321Aug 11, 202313F-HRchanges · EDGAR ↗
Q1 2023$6.9B330Apr 26, 202313F-HRchanges · EDGAR ↗
Q4 2022$6.9B333Feb 15, 202313F-HRchanges · EDGAR ↗
Q3 2022$6.6B349Nov 10, 202213F-HRchanges · EDGAR ↗
Q2 2022$7.0B711Aug 8, 202213F-HRchanges · EDGAR ↗
Q1 2022$8.4B748May 13, 202213F-HRchanges · EDGAR ↗
Q4 2021$8.9B755Feb 15, 202213F-HRchanges · EDGAR ↗
Q3 2021$8.6B787Nov 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$8.2B735Aug 10, 202113F-HRchanges · EDGAR ↗
Q1 2021$7.8B729May 14, 202113F-HRchanges · EDGAR ↗
Q4 2020$6.3B645Feb 11, 202113F-HRchanges · EDGAR ↗
Q3 2020$6.8B708Nov 12, 202013F-HRchanges · EDGAR ↗
Q2 2020$6.6B728Aug 12, 202013F-HRchanges · EDGAR ↗
Q1 2020$5.2B746May 14, 202013F-HRchanges · EDGAR ↗
Q4 2019$6.4B777Feb 10, 202013F-HRchanges · EDGAR ↗
Q3 2019$6.4B850Nov 12, 201913F-HRchanges · EDGAR ↗
Q2 2019$6.6B1,086Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$6.6B1,055May 14, 201913F-HRchanges · EDGAR ↗
Q4 2018$6.3B1,057Feb 12, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.