Retirement Systems of Alabama
Long book
$29.98B
Q1 2026
Positions
947
Top-10 weight
26%
concentration
Last quarter
+13.7%
SPY +14.8%
Turnover
4%
of book per quarter
Strategy in plain words
auto-generated from filingsRetirement Systems of Alabama is an institutional manager, running a $29.98B US long book across 947 positions.
The portfolio is moderately concentrated (top 10 ≈ 26% 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, BROADCOM INC.
Over the last 9 quarters its long book ran on average 0.2pp per quarter behind the S&P 500, beating the index in 4 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+2.4%
Q2 2024
+6.8%
Q3 2024
+1.4%
Q4 2024
-3.7%
Q1 2025
+9.9%
Q2 2025
+7.5%
Q3 2025
+3.0%
Q4 2025
-2.4%
Q1 2026
+13.7%
Sector allocation
Technology 35%
Industrials 13%
Financials 12%
Consumer discretionary 10%
Healthcare 8%
Services media 6%
Other 4%
Energy 4%
Long book by quarter
What does Retirement Systems own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NVDA NVIDIA CORP | Technology | 8.8M | $1.54B | 5.1% | -0.1% |
| AAPL APPLE INC | Technology | 5.2M | $1.32B | 4.4% | -0.5% |
| MSFT MICROSOFT CORP | Technology | 2.6M | $957.8M | 3.2% | -1.5% |
| AMZN AMAZON.COM INC | Consumer discretionary | 4.0M | $829.9M | 2.8% | +6.5% |
| AVGO BROADCOM INC | Technology | 2.1M | $652.6M | 2.2% | +0.1% |
| GOOGL ALPHABET INC-CL A | Technology | 2.0M | $568.6M | 1.9% | -0.1% |
| GOOG ALPHABET INC-CL C | Technology | 1.6M | $453.9M | 1.5% | +0.2% |
| META META PLATFORMS INC-CLASS A | Technology | 704.0K | $402.8M | 1.3% | +0.2% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 741.3K | $355.2M | 1.2% | -0.1% |
| TSLA TESLA INC | Industrials | 805.8K | $299.6M | 1.0% | +7.1% |
| JNJ JOHNSON & JOHNSON | Healthcare | 1.2M | $296.5M | 1.0% | -0.1% |
| JPM JPMORGAN CHASE & CO | Financials | 875.6K | $257.6M | 0.9% | -7.1% |
| XOM EXXON MOBIL CORP | Energy | 1.4M | $237.7M | 0.8% | -0.7% |
| CVX CHEVRON CORP | Energy | 1.1M | $237.1M | 0.8% | -0.4% |
| V VISA INC-CLASS A SHARES | Services media | 736.0K | $222.4M | 0.7% | -0.3% |
| CSCO CISCO SYSTEMS INC | Technology | 2.7M | $212.9M | 0.7% | 0.0% |
| WMT WALMART INC | Consumer discretionary | 1.6M | $203.6M | 0.7% | -6.8% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 194.4K | $193.8M | 0.6% | +19.7% |
| MA MASTERCARD INC - A | Services media | 362.6K | $181.2M | 0.6% | -0.4% |
| ABBV ABBVIE INC | Healthcare | 794.6K | $172.8M | 0.6% | -0.1% |
| CAT CATERPILLAR INC | Industrials | 232.9K | $165.0M | 0.6% | -0.3% |
| BAC BANK OF AMERICA CORP | Financials | 3.4M | $165.0M | 0.6% | -0.6% |
| IBM INTL BUSINESS MACHINES CORP | Technology | 669.1K | $162.2M | 0.5% | -0.1% |
| AMAT APPLIED MATERIALS INC | Technology | 466.9K | $159.6M | 0.5% | -0.2% |
| LLY ELI LILLY & CO | Healthcare | 168.3K | $154.8M | 0.5% | -0.4% |
| GE GENERAL ELECTRIC | Industrials | 529.2K | $150.2M | 0.5% | -0.3% |
| MU MICRON TECHNOLOGY INC | Technology | 440.9K | $148.9M | 0.5% | +0.1% |
| HD HOME DEPOT INC | Consumer discretionary | 446.6K | $146.9M | 0.5% | +38.2% |
| GS GOLDMAN SACHS GROUP INC | Financials | 169.1K | $143.1M | 0.5% | -2.1% |
| KO COCA-COLA CO/THE | Consumer staples | 1.8M | $138.5M | 0.5% | -0.1% |
| PM PHILIP MORRIS INTERNATIONAL | Consumer staples | 836.6K | $138.3M | 0.5% | -0.1% |
| WFC WELLS FARGO & CO | Financials | 1.7M | $132.8M | 0.4% | -4.8% |
| CRM SALESFORCE INC | Technology | 706.0K | $131.8M | 0.4% | +2.6% |
| MS MORGAN STANLEY | Financials | 789.6K | $129.9M | 0.4% | -2.4% |
| NFLX NETFLIX INC | Services media | 1.3M | $128.1M | 0.4% | -0.4% |
| C CITIGROUP INC | Financials | 1.1M | $123.2M | 0.4% | -0.9% |
| AMGN AMGEN INC | Healthcare | 344.3K | $121.1M | 0.4% | -0.1% |
| AXP AMERICAN EXPRESS CO | Financials | 372.5K | $112.7M | 0.4% | -0.2% |
| PG PROCTER & GAMBLE CO/THE | Other | 747.1K | $107.9M | 0.4% | -25.6% |
| SCHW SCHWAB (CHARLES) CORP | Financials | 1.1M | $106.3M | 0.4% | -0.1% |
| VZ VERIZON COMMUNICATIONS INC | Communications | 2.1M | $106.0M | 0.4% | -0.1% |
| HPE HEWLETT PACKARD ENTERPRISE | Technology | 4.3M | $102.0M | 0.3% | +5.2% |
| KLAC KLA CORP | Other | 68.4K | $100.7M | 0.3% | -0.2% |
| BKNG BOOKING HOLDINGS INC | Industrials | 23.6K | $99.4M | 0.3% | +23.7% |
| REGN REGENERON PHARMACEUTICALS | Healthcare | 128.3K | $99.1M | 0.3% | 0.0% |
| TMO THERMO FISHER SCIENTIFIC INC | Other | 201.4K | $99.0M | 0.3% | -0.1% |
| PFE PFIZER INC | Healthcare | 3.5M | $97.6M | 0.3% | -0.1% |
| COP CONOCOPHILLIPS | Energy | 730.6K | $96.4M | 0.3% | -0.4% |
| AKAM AKAMAI TECHNOLOGIES INC | Services media | 839.4K | $96.4M | 0.3% | -28.0% |
| ISRG INTUITIVE SURGICAL INC | Healthcare | 207.9K | $95.9M | 0.3% | 0.0% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 24, 2026 | 947 | $29.98B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 15, 2026 | 943 | $30.80B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 31, 2025 | 945 | $30.08B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 4, 2025 | 935 | $27.95B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 21, 2025 | 945 | $25.70B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 27, 2025 | 941 | $26.94B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Dec 6, 2024 | 944 | $26.73B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 24, 2024 | 941 | $25.85B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 30, 2024 | 941 | $25.86B | canonical | SEC ↗ |
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