Employees Retirement System of Texas

13F filer, CIK 1398739, AUSTIN, TX

Employees Retirement System of Texas reported $11,031,028,000 across 264 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-13. Its ten largest share positions make up 42.06% of the portfolio.

Filed 2025-05-13 (acceptance time not in the bulk data set), ingested 2026-10-07 18:25:06 UTC13F-HR 0001398739-25-000011

Period: 2025-03-31
Reported value: $11B
Holdings: 264
Top 10 weight: 42.06%
New: 35
Sold out: 82

Largest buys vs the previous quarter

Security	Shares change	Approx. value
SPYnew	+268,300	$150M
RSPadded	+573,300	$99.3M
MSFTadded	+261,064	$98M
VEAadded	+1,923,800	$97.8M
UBERnew	+958,008	$69.8M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

Security	Shares change	Approx. value
GOOGexited	-1,436,271	-$274M
CRMexited	-322,000	-$108M
HONexited	-378,572	-$85.5M
WFCexited	-1,216,900	-$85.5M
MDYexited	-141,500	-$80.6M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2025

Share positions as resolved from 13F-HR 0001398739-25-000011, largest first. % of portfolio is the value over $11,031,028,000, the sum of the share positions whose value is usable for ratios (method).

Security	Shares	Value	% of portfolio	Change	Timeline
MSFTMICROSOFT CORP	1,230,429	$462M	4.19%	+261,064	Timeline
RSPINVESCO EXCHANGE TRADED FD T	2,629,372	$455M	4.13%	+573,300	Timeline
AAPLAPPLE INC	1,955,831	$434M	3.94%	-22,800	Timeline
NVDANVIDIA CORPORATION	3,793,638	$411M	3.73%	-202,373	Timeline
AMZNAMAZON COM INC	1,654,644	$315M	2.85%	-112,409	Timeline
VEAVANGUARD TAX-MANAGED FDS	5,629,961	$286M	2.59%	+1,923,800	Timeline
METAMETA PLATFORMS INC	375,022	$216M	1.96%	-46,498	Timeline
JPMJPMORGAN CHASE & CO	737,500	$181M	1.64%	-28,300	Timeline
LLYELI LILLY & CO	218,356	$180M	1.63%	+13,188	Timeline
MAMASTERCARD INCORPORATED	302,059	$166M	1.5%	-19,500	Timeline
SPYSTATE STR SPDR S&P 500 ETF T	268,300	$150M	1.36%	new	Timeline
AVGOBROADCOM INC	886,030	$148M	1.34%	-59,919	Timeline
XOMEXXON MOBIL CORP	1,063,953	$127M	1.15%	+62,171	Timeline
UNHUNITEDHEALTH GROUP INC	221,800	$116M	1.05%	-16,712	Timeline
KOCOCA COLA CO	1,614,000	$116M	1.05%	+379,269	Timeline
PLDPROLOGIS INC.	992,438	$111M	1.01%	+32,383	Timeline
TSLATESLA INC	421,356	$109M	0.99%	-5,627	Timeline
WMTWALMART INC	1,241,900	$109M	0.99%	-181,789	Timeline
NFLXNETFLIX INC.	115,046	$107M	0.97%	-13,741	Timeline
PGPROCTER & GAMBLE CO	583,557	$99.5M	0.9%	+42,629	Timeline
COSTCOSTCO WHOLESALE CORPORATION	104,549	$98.9M	0.9%	-7,600	Timeline
PHPARKER-HANNIFIN CORP	157,869	$96M	0.87%	+14,683	Timeline
TMUST-MOBILE US INC	345,637	$92.2M	0.84%	-30,263	Timeline
EQIXEQUINIX INC	107,919	$88M	0.8%	+30,549	Timeline
AZOAUTOZONE INC	21,800	$83.1M	0.75%	-200	Timeline
TDGTRANSDIGM GROUP INC	59,929	$82.9M	0.75%	-600	Timeline
HIGHARTFORD INSURANCE GROUP INC	663,300	$82.1M	0.74%	+94,300	Timeline
ICEINTERCONTINENTAL EXCHANGE IN	450,900	$77.8M	0.71%	-5,200	Timeline
MSIMOTOROLA SOLUTIONS INC	177,328	$77.6M	0.7%	+72,328	Timeline
AJGGALLAGHER ARTHUR J & CO	220,500	$76.1M	0.69%	-2,500	Timeline
BKNGBOOKING HOLDINGS INC	15,700	$72.3M	0.66%	+2,100	Timeline
GOOGLALPHABET INC	464,168	$71.8M	0.65%	-19,140	Timeline
XBISPDR SERIES TRUST	867,172	$70.3M	0.64%	-10,100	Timeline
UBERUBER TECHNOLOGIES INC	958,008	$69.8M	0.63%	new	Timeline
TMOTHERMO FISHER SCIENTIFIC INC	138,500	$68.9M	0.62%	+8,800	Timeline
ETNEATON CORP PLC	251,482	$68.4M	0.62%	+37,832	Timeline
VTRVENTAS INC	967,029	$66.5M	0.6%	+709,130	Timeline
TJXTJX COS INC NEW	544,500	$66.3M	0.6%	-61,500	Timeline
WECWEC ENERGY GROUP INC	606,390	$66.1M	0.6%	+213,390	Timeline
PANWPALO ALTO NETWORKS INC	387,174	$66.1M	0.6%	-36,526	Timeline
NOWSERVICENOW INC	82,672	$65.8M	0.6%	-32,529	Timeline
WMWASTE MGMT INC DEL	282,018	$65.3M	0.59%	+42,939	Timeline
LPLALPL FINL HLDGS INC	197,600	$64.6M	0.59%	-33,900	Timeline
SLBSLB LIMITED	1,519,785	$63.5M	0.58%	-71,450	Timeline
SCHWCHARLES SCHWAB CORP (THE)	797,000	$62.4M	0.57%	new	Timeline
ZTSZOETIS INC	377,400	$62.1M	0.56%	+63,400	Timeline
ETRENTERGY CORP NEW	726,641	$62.1M	0.56%	-465,159	Timeline
DISDISNEY WALT CO	626,334	$61.8M	0.56%	-52,723	Timeline
NEMNEWMONT CORP	1,260,942	$60.9M	0.55%	-14,700	Timeline
NINISOURCE INC	1,483,561	$59.5M	0.54%	-583,239	Timeline
BSXBOSTON SCIENTIFIC CORP	589,500	$59.5M	0.54%	-6,800	Timeline
DHRDANAHER CORP DEL	289,900	$59.4M	0.54%	+49,600	Timeline
SYKSTRYKER CORPORATION	158,200	$58.9M	0.53%	-1,800	Timeline
ACNACCENTURE PLC IRELAND	188,323	$58.8M	0.53%	-60,079	Timeline
CDNSCADENCE DESIGN SYSTEM INC	229,546	$58.4M	0.53%	+40,546	Timeline
CLCOLGATE PALMOLIVE CO	622,712	$58.3M	0.53%	+44,212	Timeline
MELIMERCADOLIBRE INC	29,900	$58.3M	0.53%	-300	Timeline
VRTXVERTEX PHARMACEUTICALS INC	120,200	$58.3M	0.53%	-1,400	Timeline
BABOEING CO	333,379	$56.9M	0.52%	new	Timeline
FITBFIFTH THIRD BANCORP	1,417,400	$55.6M	0.5%	-16,500	Timeline
SBACSBA COMMUNICATIONS CORP	249,549	$54.9M	0.5%	+14,249	Timeline
AXPAMERICAN EXPRESS CO	203,600	$54.8M	0.5%	-20,700	Timeline
MCKMCKESSON CORP	81,300	$54.7M	0.5%	-900	Timeline
NXPINXP SEMICONDUCTORS N V	287,322	$54.6M	0.5%	+21,722	Timeline
ALLYALLY FINL INC	1,472,100	$53.7M	0.49%	-17,100	Timeline
LOWLOWES COS INC	228,400	$53.3M	0.48%	-2,600	Timeline
MNDYMONDAY COM LTD	217,864	$53M	0.48%	+217,071	Timeline
LNGCHENIERE ENERGY INC	228,173	$52.8M	0.48%	-118,525	Timeline
FCXFREEPORT MCMORAN INC	1,384,202	$52.4M	0.48%	-104,600	Timeline
RCLROYAL CARIBBEAN GROUP	247,200	$50.8M	0.46%	-2,800	Timeline
MSMORGAN STANLEY	432,800	$50.5M	0.46%	-89,200	Timeline
VBVANGUARD INDEX FDS	226,425	$50.2M	0.46%	0	Timeline
MDLZMONDELEZ INTL INC	732,700	$49.7M	0.45%	-286,000	Timeline
CMGCHIPOTLE MEXICAN GRILL INC	988,500	$49.6M	0.45%	-11,500	Timeline
WELLWELLTOWER INC	313,507	$48M	0.44%	-6,493	Timeline
FMXFOMENTO ECONOMICO MEXICANO S	483,949	$47.2M	0.43%	-2,635	Timeline
VRTVERTIV HOLDINGS CO	651,033	$47M	0.43%	+192,926	Timeline
CRWDCROWDSTRIKE HLDGS INC	130,420	$46M	0.42%	-53,383	Timeline
ODFLOLD DOMINION FREIGHT LINE IN	273,219	$45.2M	0.41%	+55,755	Timeline
MUMICRON TECHNOLOGY INC	518,044	$45M	0.41%	-22,550	Timeline
ETENERGY TRANSFER L P	2,384,424	$44.3M	0.4%	new	Timeline
KKRKKR & CO INC	358,300	$41.4M	0.38%	+345,421	Timeline
ICLRICON PUB LTD CO	223,200	$39.1M	0.35%	-2,600	Timeline
DDOGDATADOG INC	357,844	$35.5M	0.32%	-258,177	Timeline
BRBRBELLRING BRANDS INC	450,700	$33.6M	0.3%	new	Timeline
SPGSIMON PPTY GROUP INC NEW	164,942	$27.4M	0.25%	+11,363	Timeline
PMPHILIP MORRIS INTL INC	170,972	$27.1M	0.25%	0	Timeline
TOLTOLL BROTHERS INC	247,100	$26.1M	0.24%	-2,800	Timeline
PSAPUBLIC STORAGE	85,183	$25.5M	0.23%	+10,572	Timeline
DLRDIGITAL RLTY TR INC	162,999	$23.4M	0.21%	-12,000	Timeline
TAT&T INC	819,459	$23.2M	0.21%	-484,843	Timeline
CBCHUBB LIMITED	67,647	$20.4M	0.19%	+28,043	Timeline
VZVERIZON COMMUNICATIONS INC	372,576	$16.9M	0.15%	+291,149	Timeline
PGRPROGRESSIVE CORP	59,544	$16.9M	0.15%	+25,003	Timeline
VICIVICI PPTYS INC	507,348	$16.6M	0.15%	new	Timeline
EXREXTRA SPACE STORAGE INC	108,507	$16.1M	0.15%	-10,238	Timeline
AEPAMERICAN ELEC PWR CO INC	141,935	$15.5M	0.14%	+31,701	Timeline
AVBAVALONBAY CMNTYS INC	72,133	$15.5M	0.14%	-11,867	Timeline
IRMIRON MTN INC DEL	172,324	$14.8M	0.13%	+41,824	Timeline
CITHE CIGNA GROUP	41,362	$13.6M	0.12%	+5,930	Timeline
VMRKVIVMARK RESIDENTIAL	188,020	$13.5M	0.12%	-70,000	Timeline
EXEEXPAND ENERGY CORPORATION	113,352	$12.6M	0.11%	0	Timeline
AIGAMERICAN INTL GROUP INC	138,938	$12.1M	0.11%	new	Timeline
SESEA LTD	90,318	$11.8M	0.11%	-7,262	Timeline
DUKDUKE ENERGY CORP NEW	94,338	$11.5M	0.1%	new	Timeline
MAAMID-AMER APT CMNTYS INC	67,080	$11.2M	0.1%	+21,603	Timeline
IBNICICI BK LTD	353,069	$11.1M	0.1%	+26,168	Timeline
MOALTRIA GROUP INC	178,898	$10.7M	0.1%	-1,496	Timeline
DOCHEALTHPEAK PROPERTIES INC	520,024	$10.5M	0.1%	+143,312	Timeline
GEGE AEROSPACE	50,530	$10.1M	0.09%	new	Timeline
BXPBXP INC	142,300	$9.56M	0.09%	+35,000	Timeline
CVXCHEVRON CORPORATION	56,031	$9.37M	0.08%	+41,421	Timeline
BUDANHEUSER BUSCH INBEV SA NV	144,560	$8.9M	0.08%	new	Timeline
FETFORUM ENERGY TECHNOLOGIES IN	441,787	$8.88M	0.08%	0	Timeline
AREALEXANDRIA REAL ESTATE EQ IN	95,990	$8.88M	0.08%	+34,990	Timeline
NEENEXTERA ENERGY INC	121,218	$8.59M	0.08%	+27,788	Timeline
WPCWP CAREY INC	136,000	$8.58M	0.08%	+50,000	Timeline
HDBHDFC BANK LTD	126,233	$8.39M	0.08%	+23,413	Timeline
IBMINTERNATIONAL BUSINESS MACHS	33,136	$8.24M	0.07%	new	Timeline
ELSEQUITY LIFESTYLE PROPERTIES	123,000	$8.2M	0.07%	-4,272	Timeline
BPBP PLC	242,031	$8.18M	0.07%	+8,677	Timeline
SUISUN CMNTYS INC	62,416	$8.03M	0.07%	+17,416	Timeline
UDRUDR INC	175,094	$7.91M	0.07%	+57,094	Timeline
NOKNOKIA CORP	1,465,726	$7.72M	0.07%	0	Timeline
SHOPSHOPIFY INC	80,418	$7.68M	0.07%	-5,942	Timeline
VVISA INC	21,617	$7.58M	0.07%	-6,249	Timeline
KIMKIMCO REALTY CORP	350,651	$7.45M	0.07%	+120,651	Timeline
REGREGENCY CTRS CORP	99,740	$7.36M	0.07%	-62,320	Timeline
ALLALLSTATE CORP	35,469	$7.34M	0.07%	-24,923	Timeline
GLPIGAMING & LEISURE P	140,564	$7.16M	0.06%	-41,600	Timeline
DASHDOORDASH INC	38,952	$7.12M	0.06%	-8,577	Timeline
CPTCAMDEN PPTY TR	57,745	$7.06M	0.06%	+22,745	Timeline
EGPEASTGROUP PPTYS INC	39,900	$7.03M	0.06%	-12,000	Timeline
WTWWILLIS TOWERS WATSON PLC LTD	20,700	$7M	0.06%	-15,240	Timeline
CUBECUBESMART	154,500	$6.6M	0.06%	0	Timeline
MDTMEDTRONIC PLC	73,232	$6.58M	0.06%	-34,616	Timeline
NETCLOUDFLARE INC	57,482	$6.48M	0.06%	+5,395	Timeline
HSTHOST HOTELS & RESORTS INC	453,271	$6.44M	0.06%	-164,729	Timeline
AMHAMERICAN HOMES 4 RENT	157,140	$5.94M	0.05%	-118,425	Timeline
BMYBRISTOL-MYERS SQUIBB CO	95,973	$5.85M	0.05%	+54,931	Timeline
PBRPETROLEO BRASILEIRO S A	400,198	$5.74M	0.05%	+54,635	Timeline
BCSBARCLAYS PLC	366,372	$5.63M	0.05%	-88,264	Timeline
NNNNNN REIT INC	129,269	$5.51M	0.05%	+65,769	Timeline
TRGPTARGA RES CORP	25,824	$5.18M	0.05%	+14,405	Timeline
RHPRYMAN HOSPITALITY PPTYS INC	56,382	$5.16M	0.05%	-530	Timeline
STAGSTAG INDUSTRIAL INC	142,114	$5.13M	0.05%	-73,886	Timeline
AXSAXIS CAP HLDGS LTD	49,663	$4.98M	0.05%	-6,942	Timeline
NVSNOVARTIS AG	43,010	$4.79M	0.04%	new	Timeline
ERICTELEFONAKTIEBOLAGET LM ERICS	600,863	$4.66M	0.04%	0	Timeline
ITUBITAU UNIBANCO HLDG S A	847,094	$4.66M	0.04%	new	Timeline
AHRAMERICAN HEALTHCARE REIT INC	152,468	$4.62M	0.04%	+17,468	Timeline
BRXBRIXMOR PPTY GROUP INC	173,798	$4.61M	0.04%	new	Timeline
COLDAMERICOLD REALTY TRUST INC	207,868	$4.46M	0.04%	-30,000	Timeline
FRTFEDERAL RLTY INVT TR NEW	45,437	$4.45M	0.04%	-25,563	Timeline
REXRREXFORD INDL RLTY INC	112,581	$4.41M	0.04%	+52,581	Timeline
OHIOMEGA HEALTHCARE INVS INC	115,457	$4.4M	0.04%	+30,457	Timeline
AONAON PLC	10,726	$4.28M	0.04%	0	Timeline
DUOLDUOLINGO INC	12,921	$4.01M	0.04%	0	Timeline
KRGKITE REALTY GROUP TRUST	173,705	$3.89M	0.04%	-28,295	Timeline
CUZCOUSINS PPTYS INC	125,000	$3.69M	0.03%	0	Timeline
TRNOTERRENO RLTY CORP	56,455	$3.57M	0.03%	new	Timeline
INFYINFOSYS LTD	188,758	$3.44M	0.03%	+110,059	Timeline
AEMAGNICO EAGLE MINES LTD	31,678	$3.43M	0.03%	-52,363	Timeline
ESRTEMPIRE ST RLTY TR INC	387,000	$3.03M	0.03%	-125,000	Timeline
CSGPCOSTAR GROUP INC	37,971	$3.01M	0.03%	new	Timeline
GTYGETTY RLTY CORP NEW	96,000	$2.99M	0.03%	new	Timeline
RBLXROBLOX CORP	51,297	$2.99M	0.03%	0	Timeline
OKEONEOK INC NEW	30,016	$2.98M	0.03%	0	Timeline
CHKPCHECK POINT SOFTWARE TECH LT	13,001	$2.96M	0.03%	-8,303	Timeline
WDAYWORKDAY INC	12,637	$2.95M	0.03%	0	Timeline
ADCAGREE RLTY CORP	38,000	$2.93M	0.03%	-33,000	Timeline
APLEAPPLE HOSPITALITY REIT INC	226,187	$2.92M	0.03%	new	Timeline
NTSTNETSTREIT CORP	179,173	$2.84M	0.03%	new	Timeline
TTDTHE TRADE DESK INC	51,340	$2.81M	0.03%	-35,172	Timeline
IVTINVENTRUST PPTYS CORP	94,497	$2.77M	0.03%	new	Timeline
BNTXBIONTECH SE	30,388	$2.77M	0.03%	0	Timeline
IRTINDEPENDENCE RLTY TR INC	127,186	$2.7M	0.02%	new	Timeline
LTCLTC PPTYS INC	74,554	$2.64M	0.02%	new	Timeline
BAPCREDICORP LTD	14,187	$2.64M	0.02%	+2,481	Timeline
KGCKINROSS GOLD CORP	204,644	$2.58M	0.02%	0	Timeline
ENBENBRIDGE INC	56,020	$2.48M	0.02%	+6,299	Timeline
HRHEALTHCARE RLTY TR	146,093	$2.47M	0.02%	-53,907	Timeline
CDPCOPT DEFENSE PROPERTIES	90,000	$2.45M	0.02%	new	Timeline
BARRICK GOLD CORPBARRICK GOLD CORP	118,586	$2.31M	0.02%	+31,637
PECOPHILLIPS EDISON & CO INC	61,170	$2.23M	0.02%	new	Timeline
SKTTANGER INC	66,034	$2.23M	0.02%	-60,966	Timeline
IOTSAMSARA INC	57,553	$2.21M	0.02%	+21,030	Timeline
DKNGDRAFTKINGS INC NEW	65,470	$2.17M	0.02%	+16,500	Timeline
SBRASABRA HEALTH CARE REIT INC	119,809	$2.09M	0.02%	-58,821	Timeline
AFRMAFFIRM HLDGS INC	46,234	$2.09M	0.02%	0	Timeline
AURAURORA INNOVATION INC	301,808	$2.03M	0.02%	0	Timeline
MACMACERICH CO	117,914	$2.02M	0.02%	new	Timeline
PINSPINTEREST INC	65,059	$2.02M	0.02%	0	Timeline
KRCKILROY REALTY CORP	61,500	$2.02M	0.02%	-55,000	Timeline
SGSWEETGREEN INC	78,905	$1.97M	0.02%	+4,821	Timeline
AEGAEGON LTD	289,691	$1.91M	0.02%	0	Timeline
PODDINSULET CORP	7,250	$1.9M	0.02%	0	Timeline
SNOWSNOWFLAKE INC	12,791	$1.87M	0.02%	-30,444	Timeline
CSRCENTERSPACE	28,878	$1.87M	0.02%	-14,122	Timeline
SPOTSPOTIFY TECHNOLOGY S A	3,356	$1.85M	0.02%	+110	Timeline
CURBCURBLINE PPTYS CORP	75,905	$1.84M	0.02%	new	Timeline
FRFIRST INDL RLTY TR INC	33,915	$1.83M	0.02%	-80,085	Timeline
EMBJEMBRAER S.A.	39,400	$1.82M	0.02%	+1,500	Timeline
DOCSDOXIMITY INC	29,203	$1.7M	0.02%	0	Timeline
GHGUARDANT HEALTH INC	37,287	$1.59M	0.01%	0	Timeline
CHWYCHEWY INC	44,832	$1.46M	0.01%	0	Timeline
TEMTEMPUS AI INC	29,948	$1.45M	0.01%	0	Timeline
SNSHARKNINJA INC	17,293	$1.44M	0.01%	0	Timeline
PENPENUMBRA INC	5,273	$1.41M	0.01%	0	Timeline
TIGOMILLICOM INTL CELLULAR S A	45,517	$1.38M	0.01%	new	Timeline
ROKUROKU INC	19,452	$1.37M	0.01%	0	Timeline
INSPINSPIRE MED SYS INC	8,580	$1.37M	0.01%	0	Timeline
XYZBLOCK INC	24,536	$1.33M	0.01%	0	Timeline
VNOVORNADO RLTY TR	35,000	$1.29M	0.01%	0	Timeline
LINELINEAGE INC	21,077	$1.24M	0.01%	0	Timeline
WWAYFAIR INC	35,270	$1.13M	0.01%	0	Timeline
CLSCELESTICA INC	14,280	$1.12M	0.01%	-15,520	Timeline
MRNAMODERNA INC	38,329	$1.09M	0.01%	0	Timeline
SIMOSILICON MOTION TECHNOLOGY CO	19,152	$968K	0.01%	-4,681	Timeline
ENSGENSIGN GROUP INC	7,294	$944K	0.01%	0	Timeline
INGING GROEP N.V.	45,289	$887K	0.01%	new	Timeline
LMNDLEMONADE INC	24,459	$769K	0.01%	0	Timeline
ODDODDITY TECH LTD	16,686	$722K	0.01%	0	Timeline
HMYHARMONY GOLD MNG LTD	48,621	$718K	0.01%	new	Timeline
UMHUMH PPTYS INC	37,861	$708K	0.01%	-98,139	Timeline
YETIYETI HLDGS INC	20,412	$676K	0.01%	0	Timeline
DNLIDENALI THERAPEUTICS INC	43,769	$595K	0.01%	0	Timeline
TRMDTORM PLC	34,450	$568K	0.01%	0	Timeline
RIVNRIVIAN AUTOMOTIVE INC	41,115	$512K	<0.01%	0	Timeline
ALCALCON AG	5,278	$501K	<0.01%	new	Timeline
TXTERNIUM SA	15,791	$492K	<0.01%	0	Timeline
TBBBBBB FOODS INC	18,370	$490K	<0.01%	-4,640	Timeline
LOGILOGITECH INTL S A	4,960	$419K	<0.01%	+3,728	Timeline
PAGSPAGSEGURO DIGITAL LTD	51,840	$396K	<0.01%	new	Timeline
SPTSPROUT SOCIAL INC	17,020	$374K	<0.01%	-2,015	Timeline
WNS HLDGS LTD COM SHSWNS HLDGS LTD COM SHS	5,835	$359K	<0.01%	-6,761
YALAYALLA GROUP LTD	63,751	$333K	<0.01%	0	Timeline
BRK-BBERKSHIRE HATHAWAY INC DEL	600	$320K	<0.01%	-107,790	Timeline
CIGCIA ENERGETICA DE MINAS GERA	172,995	$304K	<0.01%	0	Timeline
VTEXVTEX	52,238	$265K	<0.01%	0	Timeline
TAKTAKEDA PHARMACEUTICAL CO LTD	17,545	$261K	<0.01%	+11,915	Timeline
PHGKONINKLIJKE PHILIPS N V	10,185	$259K	<0.01%	new	Timeline
AMPAMERIPRISE FINL INC	500	$242K	<0.01%	-107,900	Timeline
RXRXRECURSION PHARMACEUTICALS IN	44,679	$236K	<0.01%	0	Timeline
BCSFBAIN CAP SPECIALTY FIN INC	14,064	$233K	<0.01%	new	Timeline
DBDEUTSCHE BK AG	9,751	$232K	<0.01%	-30,510	Timeline
IFSINTERCORP FINL SVCS INC	6,612	$219K	<0.01%	+1,332	Timeline
GRVYGRAVITY CO LTD	2,803	$170K	<0.01%	0	Timeline
WIXWIX COM LTD	1,036	$169K	<0.01%	0	Timeline
HIMXHIMAX TECHNOLOGIES INC	22,010	$162K	<0.01%	0	Timeline
OSISKO GOLD ROYALTIES LTDOSISKO GOLD ROYALTIES LTD	7,215	$152K	<0.01%	0
MMYTMAKEMYTRIP LIMITED MAURITIUS	1,325	$130K	<0.01%	-3,583	Timeline
EQNREQUINOR ASA	4,587	$121K	<0.01%	0	Timeline
TVGRUPO TELEVISA S A B	49,904	$87K	<0.01%	0	Timeline
CCUCOMPANIA CERVECERIAS UNIDAS	5,694	$87K	<0.01%	0	Timeline
ESLTELBIT SYS LTD	191	$73K	<0.01%	new	Timeline
GRTUFGRANITE REAL ESTATE INVESTME	1,549	$73K	<0.01%	0	Timeline
SANASANA BIOTECHNOLOGY INC	29,456	$49K	<0.01%	0	Timeline
DNAGINKGO BIOWORKS HOLDINGS INC	5,432	$31K	<0.01%	0	Timeline

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

Security	Type	Amount	Value	Change
VGITVANGUARD SCOTTSDALE FDS SHS	principal	23,875,000	$1.42B	+2,390,000
HYLBDBX ETF TR XTRACK USD HIGH	principal	12,732,000	$460M	0
BAPRABOEING CO DEP CONV PFD A	principal	100,000	$5.9M	0
CONMED CORPCONMED CORP NOTE 2.250% 6/1	principal	6,000,000	$5.65M	0
ANYWHERE REAL ESTATE GROUP LANYWHERE REAL ESTATE GROUP L CNV	principal	2,000,000	$1.87M	0

Sold out in Q1 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

Security	Shares before	Value before	Type
GOOGALPHABET INC	1,436,271	$274M	shares
CRMSALESFORCE INC	322,000	$108M	shares
HONHONEYWELL INTL INC	378,572	$85.5M	shares
WFCWELLS FARGO & CO	1,216,900	$85.5M	shares
MDYSTATE STR SPDR S&P MIDCAP 40	141,500	$80.6M	shares
MRKMERCK & CO INC	745,324	$74.1M	shares
INTUINTUIT	110,000	$69.1M	shares
GLOBGLOBANT S A	277,096	$59.4M	shares
STZCONSTELLATION BRANDS INC	213,300	$47.1M	shares
MNSTMONSTER BEVERAGE CORP NEW	697,700	$36.7M	shares
OREALTY INCOME CORP	488,183	$26.1M	shares
APPAPPLOVIN CORP	68,760	$22.3M	shares
VNQVANGUARD INDEX FDS	153,404	$13.7M	principal
CCITIGROUP INC	174,780	$12.3M	shares
ESSESSEX PPTY TR INC	41,000	$11.7M	shares
SOSOUTHERN CO	109,404	$9.01M	shares
KRKROGER CO	146,250	$8.94M	shares
EGEVEREST GROUP LTD	23,748	$8.61M	shares
GPNGLOBAL PMTS INC	71,000	$7.96M	shares
GMGENERAL MTRS CO	140,280	$7.47M	shares
INVHINVITATION HOMES INC	230,000	$7.35M	shares
DALDELTA AIR LINES INC	118,544	$7.17M	shares
BACBANK OF AMER CORP	158,455	$6.96M	shares
CVSCVS HEALTH CORP	154,600	$6.94M	shares
NVONOVO-NORDISK A S	72,964	$6.28M	shares
AERAERCAP HOLDINGS NV	65,018	$6.22M	shares
DGDOLLAR GEN CORP	71,070	$5.39M	shares
FDXFEDEX CORP	17,578	$4.95M	shares
FMCFMC CORP	90,210	$4.38M	shares
ISRGINTUITIVE SURGICAL INC	8,346	$4.36M	shares
NRGNRG ENERGY INC	47,600	$4.29M	shares
XELXCEL ENERGY INC	59,510	$4.02M	shares
AXONAXON ENTERPRISE INC	6,667	$3.96M	shares
CECELANESE CORP DEL	53,980	$3.74M	shares
CAGCONAGRA BRANDS INC	124,530	$3.46M	shares
MGAMAGNA INTL INC	82,470	$3.45M	shares
ONON SEMICONDUCTOR CORP	53,790	$3.39M	shares
EIXEDISON INTL	42,070	$3.36M	shares
RELXRELX PLC	72,828	$3.31M	shares
SHELSHELL PLC	52,710	$3.3M	shares
CMCSACOMCAST CORP NEW	87,610	$3.29M	shares
FEFIRSTENERGY CORP	82,410	$3.28M	shares
GSKGSK PLC	95,136	$3.22M	shares
NLYANNALY CAPITAL MANAGEMENT IN	174,410	$3.19M	shares
VNTVONTIER CORPORATION	82,610	$3.01M	shares
JNJJOHNSON & JOHNSON	20,638	$2.98M	shares
CCKCROWN HLDGS INC	35,568	$2.94M	shares
LBTYALIBERTY GLOBAL LTD	228,334	$2.91M	shares
WSOWATSCO INC	5,718	$2.71M	shares
XHRXENIA HOTELS & RESORTS INC	175,000	$2.6M	shares
SIRISIRIUSXM HOLDINGS INC	110,910	$2.53M	shares
RPRXROYALTY PHARMA PLC	97,800	$2.5M	shares
SNYSANOFI SA	51,390	$2.48M	shares
COPCONOCOPHILLIPS	23,990	$2.38M	shares
BDNBRANDYWINE RLTY TR	400,000	$2.24M	shares
VTRSVIATRIS INC	173,408	$2.16M	shares
HHHHOWARD HUGHES HOLDINGS INC	27,250	$2.1M	shares
NHINATIONAL HEALTH INVS INC	30,000	$2.08M	shares
TGTTARGET CORP	15,352	$2.08M	shares
ADMARCHER DANIELS MIDLAND CO	40,520	$2.05M	shares
ABEVAMBEV SA	1,082,050	$2M	shares
ALNYALNYLAM PHARMACEUTICALS INC	8,403	$1.98M	shares
CTRECARETRUST REIT INC	71,000	$1.92M	shares
PFEPFIZER INC	71,662	$1.9M	shares
RDDTREDDIT INC	11,034	$1.8M	shares
ELLAUDER ESTEE COS INC	23,140	$1.74M	shares
GMABGENMAB A/S	78,950	$1.65M	shares
HOODROBINHOOD MKTS INC	43,181	$1.61M	shares
DVNDEVON ENERGY CORP NEW	42,000	$1.38M	shares
OGNORGANON & CO	91,480	$1.36M	shares
NKENIKE INC	17,332	$1.31M	shares
WPMWHEATON PRECIOUS METALS CORP	13,870	$780K	shares
TEVATEVA PHARMACEUTICAL INDS LTD	21,180	$467K	shares
CYBERARK SOFTWARE LTD/ISRAELCYBERARK SOFTWARE LTD/ISRAEL	789	$263K	shares
EXPEEXPEDIA GROUP INC	1,371	$255K	shares
TECKTECK RESOURCES LTD	5,669	$230K	shares
GRABGRAB HOLDINGS LIMITED	40,353	$190K	shares
EAELECTRONIC ARTS INC	1,014	$148K	shares
AGIALAMOS GOLD INC	5,595	$103K	shares
NVMINOVA LTD	288	$57K	shares
ZIMZIM INTEGRATED SHIPPING SERV	2,106	$45K	shares
GIBCGI INC	375	$41K	shares

How Q1 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

Filing	Role	Amendment	Filed	Accepted	Ingested
13F-HR 0001398739-25-000011	base		2025-05-13	acceptance time not in the bulk data set	2026-10-07 18:25:06 UTC