SEC 13F Intelligence

Managers / Q4 2022 · view latest →

Employees Retirement System of Texas

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

Reported Value
$6.9B
Q4 2022
Positions
333
Filings on Record
31
2019–present window
Filed
Feb 15, 2023
original filing

Summary

Employees Retirement System Of Texas reported $6.9B in U.S.-listed holdings across 333 positions for Q4 2022.

Its largest position, VOO, represents 6.7% of the portfolio.

Compared with Q3 2022, the fund opened 39 new positions and exited 55.

Portfolio Metrics

Turnover
+12.5%
vs prior filed quarter
Top-10 Concentration
+26.4%
share of reported value
Largest Position
+6.7%
Vanguard Index Fds
New / Exited
39 / 55
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: 78.4%ETP: 9.4%REIT: 9.0%ADR: 1.9%Other: 0.9%Other: 0.4%
  • Common Stock · 78.4% · $5.4B
  • ETP · 9.4% · $645M
  • REIT · 9.0% · $620M
  • ADR · 1.9% · $127M
  • Other · 0.9% · $63M
  • Other · 0.4% · $28M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
GDGENERAL DYNAMICS CORPNEW+138.0K138.0K+$34M$34M
KEYSKEYSIGHT TECHNOLOGIES INCNEW+179.0K179.0K+$31M$31M
XBISPDR SER TRNEW+353.0K353.0K+$29M$29M
DXCMDEXCOM INCNEW+258.0K258.0K+$29M$29M
BMRNBIOMARIN PHARMACEUTICAL INCNEW+261.0K261.0K+$27M$27M
ILMNILLUMINA INCNEW+114.0K114.0K+$23M$23M
HESHESS CORPNEW+151.0K151.0K+$21M$21M
WELLWELLTOWER INCNEW+263.0K263.0K+$17M$17M

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

Holdings — Q4 2022

326 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1VOOVANGUARD INDEX FDShistory →S&P 500 ETF SHS6.66%$458M1.30M
2AAPLAPPLE INChistory →COM4.13%$284M2.18M
3MSFTMICROSOFT CORPhistory →COM3.34%$229M956.6K
4GOOGALPHABET INCCAP STK CL C · CAP STK CL A2.60%$178M2.01M
5EEMISHARES TRMSCI EMG MKT ETF · JPMORGAN USD EMG · IBOXX HI YD ETF · U.S. REAL ES ETF2.25%$154M3.84M
6AMZNAMAZON COM INChistory →COM1.86%$128M1.52M
7MAMASTERCARD INCORPORATEDhistory →CL A1.44%$99M284.6K
8HDHOME DEPOT INChistory →COM1.42%$98M308.8K
9KOCOCA COLA COhistory →COM1.34%$92M1.45M
10PLDPROLOGIS INC.history →COM1.33%$91M809.5K
11JNJJOHNSON & JOHNSONhistory →COM1.27%$87M494.5K
12EXMOCEXXON MOBIL CORPhistory →COM1.14%$79M712.7K
13PGPROCTER AND GAMBLE COhistory →COM1.13%$77M509.9K
14UNHUNITEDHEALTH GROUP INChistory →COM1.10%$76M143.1K
15LLYLILLY ELI & COhistory →COM1.00%$68M187.0K
16CVXCHEVRON CORP NEWhistory →COM0.94%$64M358.0K
17BACBANK AMERICA CORPhistory →COM0.93%$64M1.92M
18METAMETA PLATFORMS INChistory →CL A0.91%$62M517.8K
19JPMJPMORGAN CHASE & COhistory →COM0.89%$61M458.4K
20BRK/BBERKSHIRE HATHAWAY INC DELCL B NEW · CL A0.89%$61M193.2K
21MRKMERCK & CO INChistory →COM0.89%$61M549.4K
22TMUST-MOBILE US INChistory →COM0.88%$60M431.3K
23AVGOBROADCOM INChistory →COM0.86%$59M105.6K
24NVDANVIDIA CORPORATIONhistory →COM0.86%$59M402.4K
25WFCWELLS FARGO CO NEWhistory →COM0.78%$54M1.30M
26BMYBRISTOL-MYERS SQUIBB COhistory →COM0.76%$52M722.3K
27NOWSERVICENOW INChistory →COM0.76%$52M133.6K
28TMOTHERMO FISHER SCIENTIFIC INChistory →COM0.74%$51M92.2K
29CBCHUBB LIMITEDhistory →COM0.69%$48M215.6K
30COSTCOSTCO WHSL CORP NEWhistory →COM0.68%$47M102.1K
31EQIXEQUINIX INChistory →COM0.68%$47M71.0K
32MCDMCDONALDS CORPhistory →COM0.67%$46M175.0K
33ACNACCENTURE PLC IRELANDhistory →SHS CLASS A0.66%$46M170.8K
34PMPHILIP MORRIS INTL INChistory →COM0.65%$44M438.5K
35TSLATESLA INChistory →COM0.64%$44M357.0K
36CDNSCADENCE DESIGN SYSTEM INChistory →COM0.64%$44M272.0K
37PANWPALO ALTO NETWORKS INChistory →COM0.61%$42M300.0K
38SCHWSCHWAB CHARLES CORPhistory →COM0.61%$42M499.9K
39LINDE PLCSHS0.60%$41M127.0K
40RTXRAYTHEON TECHNOLOGIES CORPhistory →COM0.60%$41M409.0K
41HONHONEYWELL INTL INChistory →COM0.59%$41M190.0K
42WTWWILLIS TOWERS WATSON PLC LTDhistory →SHS0.59%$40M164.3K
43TJXTJX COS INC NEWhistory →COM0.58%$40M501.0K
44INTUINTUIThistory →COM0.58%$40M102.0K
45TGTTARGET CORPhistory →COM0.58%$40M265.6K
46DHRDANAHER CORPORATIONhistory →COM0.58%$40M149.0K
47DISDISNEY WALT COhistory →COM0.57%$39M449.8K
48NOCNORTHROP GRUMMAN CORPhistory →COM0.56%$38M70.3K
49TAT&T INChistory →COM0.54%$37M2.02M
50SYKSTRYKER CORPORATIONhistory →COM0.54%$37M151.9K
51MSMORGAN STANLEYhistory →COM NEW0.54%$37M434.0K
52PSAPUBLIC STORAGEhistory →COM0.54%$37M131.3K
53EXCEXELON CORPhistory →COM0.53%$36M839.9K
54ELVELEVANCE HEALTH INChistory →COM0.52%$36M69.5K
55LMTLOCKHEED MARTIN CORPhistory →COM0.50%$34M70.9K
56GDGENERAL DYNAMICS CORPhistory →COM0.50%$34M138.0K
57ORCLORACLE CORPhistory →COM0.50%$34M416.0K
58LPLALPL FINL HLDGS INChistory →COM0.49%$34M155.7K
59DEDEERE & COhistory →COM0.49%$34M78.2K
60MPCMARATHON PETE CORPhistory →COM0.48%$33M282.0K
61CMCSACOMCAST CORP NEWhistory →CL A0.47%$32M929.0K
62WMWASTE MGMT INC DELhistory →COM0.47%$32M207.0K
63PIONEER NAT RES COCOM0.46%$32M138.0K
64EWEDWARDS LIFESCIENCES CORPhistory →COM0.45%$31M416.0K
65KEYSKEYSIGHT TECHNOLOGIES INChistory →COM0.45%$31M179.0K
66OREALTY INCOME CORPhistory →COM0.44%$30M480.2K
67AXPAMERICAN EXPRESS COhistory →COM0.44%$30M206.0K
68AMATAPPLIED MATLS INChistory →COM0.44%$30M309.8K
69AMPAMERIPRISE FINL INChistory →COM0.44%$30M96.0K
70AREALEXANDRIA REAL ESTATE EQ INhistory →COM0.43%$30M204.0K
71ETNEATON CORP PLChistory →SHS0.43%$30M189.0K
72CRMSALESFORCE INChistory →COM0.43%$30M223.0K
73XBISPDR SER TRhistory →S&P BIOTECH0.43%$29M353.0K
74DXCMDEXCOM INChistory →COM0.43%$29M258.0K
75HALHALLIBURTON COhistory →COM0.42%$29M725.0K
76QCOMQUALCOMM INChistory →COM0.41%$28M258.0K
77CTVACORTEVA INChistory →COM0.41%$28M474.0K
78BIIBBIOGEN INChistory →COM0.40%$28M100.0K
79BMRNBIOMARIN PHARMACEUTICAL INChistory →COM0.39%$27M261.0K
80PWRQUANTA SVCS INChistory →COM0.39%$27M189.0K
81NXPINXP SEMICONDUCTORS N Vhistory →COM0.39%$27M169.0K
82SYYSYSCO CORPhistory →COM0.39%$27M349.0K
83MDTMEDTRONIC PLChistory →SHS0.39%$27M341.0K
84LNGCHENIERE ENERGY INChistory →COM NEW0.38%$26M172.0K
85CEGCONSTELLATION ENERGY CORPhistory →COM0.38%$26M299.0K
86FORUM ENERGY TECHNOLOGIES INNOTE 9.000% 8/00.37%$26M24.97M
87DGDOLLAR GEN CORP NEWhistory →COM0.37%$25M103.0K
88AEPAMERICAN ELEC PWR CO INChistory →COM0.37%$25M264.4K
89AMTAMERICAN TOWER CORP NEWhistory →COM0.36%$25M118.0K
90CMGCHIPOTLE MEXICAN GRILL INChistory →COM0.36%$25M18.0K
91NEMNEWMONT CORPhistory →COM0.35%$24M504.8K
92MAAMID-AMER APT CMNTYS INChistory →COM0.35%$24M151.5K
93CATCATERPILLAR INChistory →COM0.35%$24M99.1K
94BCSFBAIN CAP SPECIALTY FIN INChistory →COM STK0.34%$23M1.95M
95VICIVICI PPTYS INChistory →COM0.34%$23M714.9K
96ILMNILLUMINA INChistory →COM0.34%$23M114.0K
97MSIMOTOROLA SOLUTIONS INChistory →COM NEW0.33%$22M87.0K
98BKNGBOOKING HOLDINGS INChistory →COM0.32%$22M11.0K
99NEENEXTERA ENERGY INChistory →COM0.32%$22M265.0K
100MUMICRON TECHNOLOGY INChistory →COM0.32%$22M433.6K

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 ↗.