SEC 13F Intelligence

Managers / Q4 2023 · view latest →

Employees Retirement System of Texas

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

Reported Value
$8.5B
Q4 2023
Positions
340
Filings on Record
30
2019–present window
Filed
Feb 15, 2024
original filing

Summary

Employees Retirement System Of Texas reported $8.5B in U.S.-listed holdings across 340 positions for Q4 2023.

Its largest position, VOO, represents 7.9% of the portfolio.

Compared with Q3 2023, the fund opened 89 new positions and exited 46.

Portfolio Metrics

Turnover
+6.4%
vs prior filed quarter
Top-10 Concentration
+33.0%
share of reported value
Largest Position
+7.9%
Vanguard Index Fds
New / Exited
89 / 46
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
Q1 ’19: $6.6BQ1 ’19Q2 ’19: $6.6BQ3 ’19: $6.4BQ4 ’19: $6.4BQ1 ’20: $5.2BQ1 ’20Q2 ’20: $6.6BQ3 ’20: $6.8BQ4 ’20: $6.3BQ1 ’21: $7.8BQ1 ’21Q2 ’21: $8.2BQ3 ’21: $8.6BQ4 ’21: $8.9BQ1 ’22: $8.4BQ1 ’22Q2 ’22: $7.0BQ3 ’22: $6.6BQ4 ’22: $6.9BQ1 ’23: $6.9BQ1 ’23Q2 ’23: $7.3BQ3 ’23: $6.7BQ4 ’23: $8.5BQ1 ’24: $9.2BQ1 ’24Q2 ’24: $10.7BQ3 ’24: $11.6BQ4 ’24: $11.7BQ1 ’25: $11.0BQ1 ’25Q2 ’25: $12.3BQ3 ’25: $12.5BQ4 ’25: $12.3BQ1 ’26: $11.4BQ1 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 79.8%ETP: 10.4%REIT: 7.8%ADR: 1.7%US DOMESTIC: 0.2%Other: 0.1%
  • Common Stock · 79.8% · $6.8B
  • ETP · 10.4% · $886M
  • REIT · 7.8% · $663M
  • ADR · 1.7% · $144M
  • US DOMESTIC · 0.2% · $14M
  • Other · 0.1% · $12M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
NOWSERVICENOW INCNEW+166.7K166.7K+$118M$118M
UNHUNITEDHEALTH GROUP INCNEW+194.4K194.4K+$102M$102M
DGRWWISDOMTREE TRNEW+1.42M1.42M+$100M$100M
VBVANGUARD INDEX FDSNEW+467.9K467.9K+$100M$100M
VTIVANGUARD INDEX FDSNEW+420.8K420.8K+$100M$100M
TMUST-MOBILE US INCNEW+377.2K377.2K+$60M$60M
PHPARKER-HANNIFIN CORPNEW+123.0K123.0K+$57M$57M
CDNSCADENCE DESIGN SYSTEM INCNEW+189.0K189.0K+$51M$51M

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

Holdings — Q4 2023

333 positions (from 340 filing rows — )
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1VOOVANGUARD INDEX FDSS&P 500 ETF SHS · TOTAL STK MKT · SMALL CP ETF · REAL ESTATE ETF7.91%$675M1.98M
2AAPLAPPLE INChistory →COM4.56%$389M2.02M
3MSFTMICROSOFT CORPhistory →COM4.32%$369M980.2K
4GOOGALPHABET INCCAP STK CL C · CAP STK CL A3.29%$280M1.99M
5AMZNAMAZON COM INChistory →COM3.01%$257M1.69M
6NVDANVIDIA CORPORATIONhistory →COM2.68%$228M460.8K
7METAMETA PLATFORMS INChistory →CL A2.11%$180M508.5K
8MAMASTERCARD INCORPORATEDhistory →CL A1.90%$162M379.6K
9EXMOCEXXON MOBIL CORPhistory →COM1.61%$137M1.37M
10JPMJPMORGAN CHASE & COhistory →COM1.58%$135M793.1K
11NOWSERVICENOW INChistory →COM1.38%$118M166.7K
12AVGOBROADCOM INChistory →COM1.37%$117M104.7K
13KOCOCA COLA COhistory →COM1.33%$114M1.93M
14LLYELI LILLY & COhistory →COM1.29%$110M189.1K
15PLDPROLOGIS INC.history →COM1.25%$106M798.5K
16UNHUNITEDHEALTH GROUP INChistory →COM1.20%$102M194.4K
17TSLATESLA INChistory →COM1.19%$101M407.5K
18DGRWWISDOMTREE TRhistory →US QTLY DIV GRT1.17%$100M1.42M
19EQIXEQUINIX INChistory →COM1.02%$87M108.0K
20CRMSALESFORCE INChistory →COM0.94%$80M305.0K
21ACNACCENTURE PLC IRELANDhistory →SHS CLASS A0.93%$79M224.9K
22DISDISNEY WALT COhistory →COM0.92%$79M872.8K
23PANWPALO ALTO NETWORKS INChistory →COM0.92%$79M266.7K
24CATCATERPILLAR INChistory →COM0.91%$78M262.2K
25PGPROCTER AND GAMBLE COhistory →COM0.88%$75M509.9K
26COSTCOSTCO WHSL CORP NEWhistory →COM0.87%$74M112.1K
27AXPAMERICAN EXPRESS COhistory →COM0.85%$73M388.0K
28PSAPUBLIC STORAGEhistory →COM0.82%$70M229.3K
29MUMICRON TECHNOLOGY INChistory →COM0.80%$68M797.3K
30INTUINTUIThistory →COM0.78%$67M106.8K
31MRKMERCK & CO INChistory →COM0.78%$66M607.4K
32TDGTRANSDIGM GROUP INChistory →COM0.76%$65M64.0K
33WMTWALMART INChistory →COM0.75%$64M404.0K
34WFCWELLS FARGO CO NEWhistory →COM0.74%$63M1.28M
35SLBSCHLUMBERGER LTDhistory →COM STK0.74%$63M1.21M
36NFLXNETFLIX INChistory →COM0.71%$61M125.0K
37TMUST-MOBILE US INChistory →COM0.71%$60M377.2K
38NOCNORTHROP GRUMMAN CORPhistory →COM0.71%$60M129.0K
39AMPAMERIPRISE FINL INChistory →COM0.70%$60M158.0K
40ETNEATON CORP PLChistory →SHS0.67%$58M239.0K
41LNGCHENIERE ENERGY INChistory →COM NEW0.67%$57M334.0K
42TMOTHERMO FISHER SCIENTIFIC INChistory →COM0.67%$57M107.2K
43AZOAUTOZONE INChistory →COM0.67%$57M22.0K
44TJXTJX COS INC NEWhistory →COM0.67%$57M606.0K
45DDOGDATADOG INChistory →CL A COM0.67%$57M468.3K
46PHPARKER-HANNIFIN CORPhistory →COM0.66%$57M123.0K
47MDTMEDTRONIC PLChistory →SHS0.66%$56M685.6K
48DHRDANAHER CORPORATIONhistory →COM0.66%$56M244.0K
49MCDMCDONALDS CORPhistory →COM0.66%$56M189.0K
50LPLALPL FINL HLDGS INChistory →COM0.66%$56M246.0K
51GWWGRAINGER W W INChistory →COM0.65%$56M67.0K
52MDYSPDR S&P MIDCAP 400 ETF TRhistory →UTSER1 S&PDCRP0.65%$55M108.5K
53MGMMGM RESORTS INTERNATIONALhistory →COM0.64%$55M1.22M
54MSMORGAN STANLEYhistory →COM NEW0.62%$53M564.0K
55CDNSCADENCE DESIGN SYSTEM INChistory →COM0.60%$51M189.0K
56AJGGALLAGHER ARTHUR J & COhistory →COM0.59%$50M223.0K
57AMEAMETEK INChistory →COM0.58%$50M302.0K
58WMWASTE MGMT INC DELhistory →COM0.58%$50M278.0K
59FCXFREEPORT-MCMORAN INChistory →CL B0.58%$49M1.16M
60MDLZMONDELEZ INTL INChistory →CL A0.57%$49M674.0K
61VRTXVERTEX PHARMACEUTICALS INChistory →COM0.56%$48M118.0K
62VICIVICI PPTYS INChistory →COM0.56%$48M1.50M
63DXCMDEXCOM INChistory →COM0.56%$48M385.0K
64STZCONSTELLATION BRANDS INChistory →CL A0.55%$47M194.0K
65CMGCHIPOTLE MEXICAN GRILL INChistory →COM0.54%$46M20.0K
66VOYAVOYA FINANCIAL INChistory →COM0.52%$44M604.0K
67NXPINXP SEMICONDUCTORS N Vhistory →COM0.51%$44M190.0K
68ICEINTERCONTINENTAL EXCHANGE INhistory →COM0.51%$44M339.0K
69HCAHCA HEALTHCARE INChistory →COM0.51%$43M160.0K
70NEMNEWMONT CORPhistory →COM0.50%$43M1.04M
71ULTAULTA BEAUTY INChistory →COM0.50%$43M87.0K
72SYKSTRYKER CORPORATIONhistory →COM0.50%$42M141.0K
73BSXBOSTON SCIENTIFIC CORPhistory →COM0.48%$41M710.0K
74PWRQUANTA SVCS INChistory →COM0.48%$41M189.0K
75FMXFOMENTO ECONOMICO MEXICANO Shistory →SPON ADR UNITS0.46%$39M298.3K
76HIGHARTFORD FINL SVCS GROUP INChistory →COM0.45%$38M476.0K
77ETRENTERGY CORP NEWhistory →COM0.45%$38M376.0K
78DVDOUBLEVERIFY HLDGS INChistory →COM0.44%$38M1.02M
79SBACSBA COMMUNICATIONS CORP NEWhistory →CL A0.44%$37M147.0K
80MCKMCKESSON CORPhistory →COM0.43%$37M80.0K
81EXKEXACT SCIENCES CORPhistory →COM0.43%$36M491.0K
82FITBFIFTH THIRD BANCORPhistory →COM0.42%$36M1.03M
83ODFLOLD DOMINION FREIGHT LINE INhistory →COM0.41%$35M87.0K
84XBISPDR SER TRS&P BIOTECH · PORTFLI HIGH YLD0.41%$35M426.0K
85NINISOURCE INChistory →COM0.40%$34M1.30M
86BMRNBIOMARIN PHARMACEUTICAL INChistory →COM0.39%$33M344.0K
87WECWEC ENERGY GROUP INChistory →COM0.39%$33M393.0K
88ASOACADEMY SPORTS & OUTDOORS INhistory →COM0.39%$33M499.0K
89MSIMOTOROLA SOLUTIONS INChistory →COM NEW0.39%$33M105.0K
90AEEAMEREN CORPhistory →COM0.36%$31M422.0K
91FNDFLOOR & DECOR HLDGS INChistory →CL A0.35%$30M268.0K
92ICLRICON PLChistory →SHS0.35%$30M105.0K
93SYYSYSCO CORPhistory →COM0.35%$30M404.0K
94FETFORUM ENERGY TECHNOLOGIES INNOTE 9.000% 8/0 · COM0.26%$22M13.48M
95BCSFBAIN CAP SPECIALTY FIN INChistory →COM STK0.25%$21M1.39M
96OREALTY INCOME CORPhistory →COM0.24%$20M353.2K
97ALLYALLY FINL INChistory →COM0.23%$20M560.4K
98SPGSIMON PPTY GROUP INC NEWhistory →COM0.21%$18M126.6K
99WELLWELLTOWER INChistory →COM0.20%$17M185.0K
100EXREXTRA SPACE STORAGE INChistory →COM0.20%$17M103.7K

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 ↗

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 ↗.