CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM
Long book
$94.49B
Q1 2026
Positions
2925
Top-10 weight
33%
concentration
Last quarter
+15.1%
SPY +14.8%
Turnover
5%
of book per quarter
Strategy in plain words
auto-generated from filingsCALIFORNIA STATE TEACHERS RETIREMENT SYSTEM is a pension / sovereign wealth manager, running a $94.49B US long book across 2925 positions.
The portfolio is moderately concentrated (top 10 ≈ 33% of the book). The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: NVIDIA CORP, APPLE INC, MICROSOFT CORP, AMAZON.COM INC, ALPHABET INC-CL A.
Over the last 9 quarters its long book ran on average 0pp per quarter behind the S&P 500, beating the index in 6 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+3.7%
Q2 2024
+6.1%
Q3 2024
+2.6%
Q4 2024
-4.8%
Q1 2025
+11.1%
Q2 2025
+8.2%
Q3 2025
+2.4%
Q4 2025
-4.3%
Q1 2026
+15.1%
Sector allocation
Technology 39%
Financials 12%
Industrials 11%
Consumer discretionary 9%
Healthcare 8%
Services media 5%
Other 4%
Utilities 3%
Long book by quarter
What does CALIFORNIA STATE own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NVDA NVIDIA CORP | Technology | 36.7M | $6.40B | 6.8% | -2.3% |
| AAPL APPLE INC | Technology | 22.3M | $5.65B | 6.0% | -3.1% |
| MSFT MICROSOFT CORP | Technology | 10.7M | $3.97B | 4.2% | -2.3% |
| AMZN AMAZON.COM INC | Consumer discretionary | 14.6M | $3.03B | 3.2% | -2.2% |
| GOOGL ALPHABET INC-CL A | Technology | 8.9M | $2.55B | 2.7% | -2.3% |
| AVGO BROADCOM INC | Technology | 6.8M | $2.11B | 2.2% | -2.1% |
| GOOG ALPHABET INC-CL C | Technology | 7.3M | $2.09B | 2.2% | -2.7% |
| META META PLATFORMS INC-CLASS A | Technology | 3.3M | $1.88B | 2.0% | -2.1% |
| TSLA TESLA INC | Industrials | 4.3M | $1.59B | 1.7% | -2.3% |
| JPM JPMORGAN CHASE & CO | Financials | 4.1M | $1.22B | 1.3% | -3.0% |
| LLY ELI LILLY & CO | Healthcare | 1.2M | $1.12B | 1.2% | -2.4% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 2.1M | $992.9M | 1.1% | -2.6% |
| JNJ JOHNSON & JOHNSON | Healthcare | 3.7M | $915.0M | 1.0% | -2.2% |
| WMT WALMART INC | Consumer discretionary | 6.7M | $831.8M | 0.9% | -2.3% |
| XOM EXXON MOBIL CORP | Energy | 4.9M | $829.7M | 0.9% | -3.9% |
| V VISA INC-CLASS A SHARES | Services media | 2.6M | $775.6M | 0.8% | -2.9% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 687.1K | $684.7M | 0.7% | -2.2% |
| MA MASTERCARD INC - A | Services media | 1.3M | $642.9M | 0.7% | -2.8% |
| NFLX NETFLIX INC | Services media | 6.4M | $619.0M | 0.7% | -2.6% |
| ABBV ABBVIE INC | Healthcare | 2.7M | $582.9M | 0.6% | -2.3% |
| MU MICRON TECHNOLOGY INC | Technology | 1.7M | $575.9M | 0.6% | -2.2% |
| PG PROCTER & GAMBLE CO/THE | Other | 3.6M | $517.7M | 0.5% | -2.5% |
| BAC BANK OF AMERICA CORP | Financials | 10.4M | $508.8M | 0.5% | -4.2% |
| PLTR PALANTIR TECHNOLOGIES INC-A | Technology | 3.4M | $504.0M | 0.5% | -1.9% |
| AMD ADVANCED MICRO DEVICES | Technology | 2.5M | $500.7M | 0.5% | -2.1% |
| CAT CATERPILLAR INC | Industrials | 706.4K | $500.4M | 0.5% | -2.7% |
| KO COCA-COLA CO/THE | Consumer staples | 6.5M | $496.6M | 0.5% | -2.2% |
| HD HOME DEPOT INC | Consumer discretionary | 1.5M | $494.3M | 0.5% | -2.4% |
| CSCO CISCO SYSTEMS INC | Technology | 6.0M | $467.3M | 0.5% | -2.4% |
| MRK MERCK & CO. INC. | Healthcare | 3.8M | $461.4M | 0.5% | -2.8% |
| CVX CHEVRON CORP | Energy | 2.2M | $458.5M | 0.5% | -3.7% |
| GE GENERAL ELECTRIC | Industrials | 1.6M | $457.5M | 0.5% | -2.8% |
| AMAT APPLIED MATERIALS INC | Technology | 1.2M | $418.5M | 0.4% | -2.8% |
| LRCX LAM RESEARCH CORP | Industrials | 1.9M | $410.9M | 0.4% | -2.8% |
| RTX RTX CORP | Industrials | 2.1M | $395.8M | 0.4% | -2.4% |
| GS GOLDMAN SACHS GROUP INC | Financials | 456.1K | $385.8M | 0.4% | -3.2% |
| ORCL ORACLE CORP | Technology | 2.6M | $382.1M | 0.4% | -1.7% |
| WFC WELLS FARGO & CO | Financials | 4.8M | $380.0M | 0.4% | -3.8% |
| UNH UNITEDHEALTH GROUP INC | Financials | 1.4M | $366.9M | 0.4% | -2.4% |
| GEV GE VERNOVA INC | Industrials | 416.0K | $363.1M | 0.4% | -2.8% |
| MCD MCDONALD'S CORP | Consumer discretionary | 1.1M | $346.9M | 0.4% | -2.6% |
| IBM INTL BUSINESS MACHINES CORP | Technology | 1.4M | $344.7M | 0.4% | -2.2% |
| VZ VERIZON COMMUNICATIONS INC | Communications | 6.6M | $331.0M | 0.4% | -2.3% |
| PEP PEPSICO INC | Consumer staples | 2.1M | $326.1M | 0.3% | -2.3% |
| T AT&T INC | Communications | 10.9M | $317.3M | 0.3% | -3.0% |
| C CITIGROUP INC | Financials | 2.8M | $315.8M | 0.3% | -4.5% |
| INTC INTEL CORP | Technology | 6.9M | $304.0M | 0.3% | -2.4% |
| KLAC KLA CORP | Other | 200.9K | $295.7M | 0.3% | -2.6% |
| MS MORGAN STANLEY | Financials | 1.8M | $294.7M | 0.3% | -3.2% |
| AMGN AMGEN INC | Healthcare | 825.1K | $290.3M | 0.3% | -2.4% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 18, 2026 | 2925 | $94.49B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 3054 | $99.96B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 3047 | $97.50B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 2958 | $90.04B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 3055 | $80.89B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR/ARESTATEMENT | Mar 18, 2025 | 3065 | $85.65B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 3065 | $69.27B | SEC ↗ | |
| Q3 2024 | 13F-HR/ARESTATEMENT | Apr 4, 2025 | 3076 | $85.75B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 3076 | $71.35B | SEC ↗ | |
| Q2 2024 | 13F-HR/ARESTATEMENT | Apr 8, 2025 | 3086 | $81.58B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 3086 | $68.41B | SEC ↗ | |
| Q1 2024 | 13F-HR | May 16, 2024 | 3045 | $79.15B | canonical | SEC ↗ |