SEC 13F Intelligence

Managers / Q4 2021 · view latest →

Employees Retirement System of Texas

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

Reported Value
$8.9B
Q4 2021
Positions
755
Filings on Record
31
2019–present window
Filed
Feb 15, 2022
original filing

Summary

Employees Retirement System Of Texas reported $8.9B in U.S.-listed holdings across 755 positions for Q4 2021.

Its largest position, AAPL, represents 4.9% of the portfolio.

Compared with Q3 2021, the fund opened 71 new positions and exited 103.

Portfolio Metrics

Turnover
+10.3%
vs prior filed quarter
Top-10 Concentration
+22.4%
share of reported value
Largest Position
+4.9%
Apple
New / Exited
71 / 103
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: 83.4%REIT: 11.9%ADR: 1.8%Other: 1.5%ETP: 0.9%Other: 0.5%
  • Common Stock · 83.4% · $7.5B
  • REIT · 11.9% · $1.1B
  • ADR · 1.8% · $162M
  • Other · 1.5% · $138M
  • ETP · 0.9% · $79M
  • Other · 0.5% · $43M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
CTRECARETRUST REIT INCNEW+664.0K664.0K+$15M$15M
WELLWELLTOWER INCNEW+143.0K143.0K+$12M$12M
UPSUNITED PARCEL SERVICE INCNEW+54.0K54.0K+$12M$12M
PRGOPERRIGO CO PLCNEW+214.9K214.9K+$8M$8M
XILINX INCNEW+37.0K37.0K+$8M$8M
DOVDOVER CORPNEW+41.0K41.0K+$7M$7M
INDUS REALTY TRUST INCNEW+89.9K89.9K+$7M$7M
GXOGXO LOGISTICS INCORPORATEDNEW+75.8K75.8K+$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 2021

496 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AAPLAPPLE INChistory →COM4.90%$438M2.47M
2MSFTMICROSOFT CORPhistory →COM4.16%$373M1.11M
3GOOGALPHABET INCCAP STK CL C · CAP STK CL A3.15%$282M97.5K
4AMZNAMAZON COM INChistory →COM2.51%$225M67.4K
5METAMETA PLATFORMS INChistory →CL A1.55%$139M412.9K
6TSLATESLA INChistory →COM1.48%$132M125.0K
7PLDPROLOGIS INC.history →COM1.37%$123M727.6K
8NVDANVIDIA CORPORATIONhistory →COM1.31%$117M398.8K
9JPMJPMORGAN CHASE & COhistory →COM1.02%$91M575.3K
10UNHUNITEDHEALTH GROUP INChistory →COM0.98%$88M175.5K
11JNJJOHNSON & JOHNSONhistory →COM0.90%$80M469.5K
12PGPROCTER AND GAMBLE COhistory →COM0.84%$75M456.9K
13MAMASTERCARD INCORPORATEDhistory →CL A0.79%$71M196.6K
14BACBK OF AMERICA CORPhistory →COM0.77%$69M1.56M
15AVGOBROADCOM INChistory →COM0.77%$69M104.2K
16ACNACCENTURE PLC IRELANDhistory →SHS CLASS A0.76%$68M164.3K
17EQIXEQUINIX INChistory →COM0.74%$66M78.5K
18BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW0.74%$66M220.9K
19VVISA INChistory →COM CL A0.73%$66M303.5K
20HDHOME DEPOT INChistory →COM0.69%$61M147.8K
21WFCWELLS FARGO CO NEWhistory →COM0.68%$61M1.27M
22ADBEADOBE SYSTEMS INCORPORATEDhistory →COM0.59%$53M93.2K
23LOWLOWES COS INChistory →COM0.58%$52M202.1K
24CMCSACOMCAST CORP NEWhistory →CL A0.57%$51M1.00M
25EMBISHARES TRJPMORGAN USD EMG · CORE S&P SCP ETF · MSCI EAFE ETF · U.S. REAL ES ETF0.56%$50M477.5K
26CRMSALESFORCE COM INChistory →COM0.56%$50M196.7K
27ABTABBOTT LABShistory →COM0.55%$49M347.6K
28TMOTHERMO FISHER SCIENTIFIC INChistory →COM0.54%$49M73.0K
29ABBVABBVIE INChistory →COM0.54%$49M359.2K
30ELVANTHEM INChistory →COM0.54%$49M104.9K
31AMATAPPLIED MATLS INChistory →COM0.52%$47M297.0K
32COSTCOSTCO WHSL CORP NEWhistory →COM0.51%$46M80.7K
33LLYLILLY ELI & COhistory →COM0.50%$45M162.7K
34MSMORGAN STANLEYhistory →COM NEW0.49%$44M443.8K
35EXMOCEXXON MOBIL CORPhistory →COM0.48%$43M708.7K
36MDTMEDTRONIC PLChistory →SHS0.46%$41M399.2K
37PFEPFIZER INChistory →COM0.46%$41M698.0K
38NEENEXTERA ENERGY INChistory →COM0.46%$41M441.0K
39NFLXNETFLIX INChistory →COM0.45%$40M66.3K
40CVXCHEVRON CORP NEWhistory →COM0.44%$39M332.7K
41KOCOCA COLA COhistory →COM0.44%$39M658.9K
42SPGSIMON PPTY GROUP INC NEWhistory →COM0.43%$39M242.6K
43DHRDANAHER CORPORATIONhistory →COM0.43%$39M117.8K
44PYPLPAYPAL HLDGS INChistory →COM0.43%$38M202.2K
45LINDE PLCSHS0.42%$38M109.6K
46TMUST-MOBILE US INChistory →COM0.42%$37M321.4K
47WMTWALMART INChistory →COM0.42%$37M256.9K
48CBCHUBB LIMITEDhistory →COM0.40%$36M184.8K
49AXPAMERICAN EXPRESS COhistory →COM0.39%$35M216.0K
50MRKMERCK & CO INChistory →COM0.39%$35M453.0K
51AMDADVANCED MICRO DEVICES INChistory →COM0.39%$35M241.2K
52BLACKROCK INCCOM0.38%$34M37.6K
53GSGOLDMAN SACHS GROUP INChistory →COM0.38%$34M89.7K
54BMYBRISTOL-MYERS SQUIBB COhistory →COM0.38%$34M542.8K
55DISDISNEY WALT COhistory →COM0.38%$34M218.5K
56PMPHILIP MORRIS INTL INChistory →COM0.38%$34M355.2K
57OREALTY INCOME CORPhistory →COM0.38%$34M470.1K
58QCOMQUALCOMM INChistory →COM0.37%$33M183.1K
59PANWPALO ALTO NETWORKS INChistory →COM0.37%$33M59.6K
60CTVACORTEVA INChistory →COM0.36%$32M683.7K
61NXPINXP SEMICONDUCTORS N Vhistory →COM0.36%$32M141.7K
62NKENIKE INChistory →CL B0.36%$32M193.4K
63DDDUPONT DE NEMOURS INChistory →COM0.36%$32M398.7K
64MUMICRON TECHNOLOGY INChistory →COM0.36%$32M344.0K
65PSAPUBLIC STORAGEhistory →COM0.36%$32M85.3K
66BCSFBAIN CAP SPECIALTY FIN INChistory →COM STK0.36%$32M2.10M
67CPTCAMDEN PPTY TRhistory →SH BEN INT0.35%$32M177.6K
68DUKE REALTY CORPCOM NEW0.34%$31M466.1K
69MAAMID-AMER APT CMNTYS INChistory →COM0.34%$30M132.6K
70DEDEERE & COhistory →COM0.34%$30M88.0K
71RTXRAYTHEON TECHNOLOGIES CORPhistory →COM0.33%$29M340.2K
72FORUM ENERGY TECHNOLOGIES INNOTE 9.000% 8/00.33%$29M32.72M
73MCDMCDONALDS CORPhistory →COM0.33%$29M108.6K
74TJXTJX COS INC NEWhistory →COM0.32%$29M379.3K
75GMGENERAL MTRS COhistory →COM0.32%$28M484.3K
76NOWSERVICENOW INChistory →COM0.32%$28M43.7K
77CCITIGROUP INChistory →COM NEW0.31%$28M458.7K
78EQREQUITY RESIDENTIALhistory →SH BEN INT0.30%$27M298.1K
79AMPAMERIPRISE FINL INChistory →COM0.30%$27M89.0K
80ETNEATON CORP PLChistory →SHS0.30%$27M155.0K
81TGTTARGET CORPhistory →COM0.30%$27M115.0K
82AMTAMERICAN TOWER CORP NEWhistory →COM0.29%$26M89.5K
83VTRVENTAS INChistory →COM0.29%$26M502.1K
84AVBAVALONBAY CMNTYS INChistory →COM0.28%$25M100.5K
85WTWWILLIS TOWERS WATSON PLC LTDhistory →SHS0.28%$25M106.2K
86XBISPDR SER TRhistory →S&P BIOTECH0.28%$25M223.0K
87EXCEXELON CORPhistory →COM0.28%$25M430.8K
88NSCNORFOLK SOUTHN CORPhistory →COM0.28%$25M83.0K
89ISRGINTUITIVE SURGICAL INChistory →COM NEW0.28%$25M68.7K
90DLRDIGITAL RLTY TR INChistory →COM0.27%$24M138.0K
91EXREXTRA SPACE STORAGE INChistory →COM0.27%$24M107.0K
92AONAON PLChistory →SHS CL A0.27%$24M79.3K
93SUISUN CMNTYS INChistory →COM0.26%$24M112.0K
94HONHONEYWELL INTL INChistory →COM0.26%$23M112.0K
95FRCBFIRST REP BK SAN FRANCISCO Chistory →COM0.26%$23M112.4K
96CSCOCISCO SYS INChistory →COM0.26%$23M365.9K
97FDXFEDEX CORPhistory →COM0.26%$23M89.4K
98LPLALPL FINL HLDGS INChistory →COM0.26%$23M144.0K
99TAT&T INChistory →COM0.26%$23M936.4K
100DISCOVER FINL SVCSCOM0.25%$22M194.2K

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 ↗.