§ 13F · FUND PROFILE
Retirement Systems of Alabama.
AUM · $33.2B (13F)Positions · 950Turnover · 98% · Q1Filed · Jul 28, 2026
CONCENTRATION
26%
Top 10 holdings
NEW BUYS
+21
+$202M deployed
EXITS
0
No exits
SECTOR SHIFT
TECHNOLOGY → OTHER
-2pp · +2pp
§ 01 · TOP HOLDINGS
The book · Q1 2026
FILED JUL 28, 2026
| # | Ticker | Name | Shares | $ value | % port | Δ Q1 |
|---|---|---|---|---|---|---|
| 1 | NVDA | NVIDIA CORPORATION | 8.78M | $1.8B | 5.3% | −1% |
| 2 | AAPL | APPLE INC | 5.18M | $1.5B | 4.5% | ±0% |
| 3 | MSFT | MICROSOFT CORP | 2.57M | $959M | 2.9% | −1% |
| 4 | AMZN | AMAZON COM INC | 3.78M | $901M | 2.7% | −5% |
| 5 | AVGO | BROADCOM INC | 2.10M | $792M | 2.4% | −1% |
| 6 | GOOGL | ALPHABET INC | 2.08M | $742M | 2.2% | +5% |
| 7 | IEMG | ISHARES INC | 7.58M | $628M | 1.9% | ±0% |
| 8 | EEM | ISHARES TR | 9.13M | $625M | 1.9% | ±0% |
| 9 | GOOG | ALPHABET INC | 1.65M | $582M | 1.8% | +4% |
| 10 | DFAE | DIMENSIONAL ETF TRUST | 12.67M | $509M | 1.5% | ±0% |
§ 02 · SECTOR ALLOCATION
Where the money is
Other49.3% (+2pp)
Technology12.9% (−2pp)
Semiconductors10.8% (±0)
Retail6.9% (±0)
Media6.4% (−1pp)
Financial Services5.0% (−1pp)
§ 03 · THE RETIREMENT SIGNAL
AC read
Retirement Systems of Alabama is a Income / Defensive fund managing $33.2 billion in assets. The fund runs a broad portfolio of 950 positions, broad diversification across holdings, with the top 10 accounting for 26%. Trading activity is aggressive at 98% quarterly turnover, with 21 new positions and 0 exits last quarter. Top sector allocations: Other (49%), Technology (13%), Semiconductors (11%).
Read the full dossier →§ 04 · FILING HISTORY
Q-by-Q deltas
3 OF 2 FILINGS MEASURED
Q1 2026
Busy quarter
+21 buys · −0 exits · 906 changed
Q4 2025
Busy quarter
+16 buys · −0 exits · 899 changed
Q3 2025
Busy quarter
+31 buys · −0 exits · 900 changed