§ 13F · FUND PROFILE
Retirement Systems of Alabama.
Institutional filer · behavioral pattern: Income / Defensive. Summary pending.
AUM · $27945.2T (13F)Positions · 935Turnover · 97% · Q4Filed · Jan 15, 2026
CONCENTRATION
28%
Top 10 holdings
NEW BUYS
+16
+$217.4T deployed
EXITS
0
No exits
SECTOR SHIFT
TECHNOLOGY → MEDIA
-0pp · +0pp
3YR HIT RATE
—
Top-5 overlap
§ 01 · TOP HOLDINGS
The book · Q4 2025
FILED JAN 15, 2026
| # | Ticker | Name | Shares | $ value | % port | Δ Q4 |
|---|---|---|---|---|---|---|
| 1 | NVDA | NVIDIA CORPORATION | 8.86M | $1652.2T | 5.4% | ±0% |
| 2 | AAPL | APPLE INC | 5.22M | $1419.2T | 4.6% | ±0% |
| 3 | MSFT | MICROSOFT CORP | 2.63M | $1270.6T | 4.1% | ±0% |
| 4 | AMZN | AMAZON COM INC | 3.74M | $863.8T | 2.8% | +1% |
| 5 | AVGO | BROADCOM INC | 2.11M | $729.0T | 2.4% | ±0% |
| 6 | GOOGL | ALPHABET INC | 1.98M | $619.3T | 2.0% | ±0% |
| 7 | IEMG | ISHARES INC | 7.58M | $509.8T | 1.7% | ±0% |
| 8 | EEM | ISHARES TR | 9.13M | $499.6T | 1.6% | ±0% |
| 9 | GOOG | ALPHABET INC | 1.58M | $495.3T | 1.6% | ±0% |
| 10 | META | META PLATFORMS INC | 703K | $463.9T | 1.5% | ±0% |
§ 02 · SECTOR ALLOCATION
Where the money is
Other46.9% (±0)
Technology14.9% (±0)
Semiconductors10.7% (±0)
Media7.0% (±0)
Retail6.7% (±0)
Financial Services5.6% (±0)
§ 03 · THE RETIREMENT SIGNAL
AC read
Retirement Systems of Alabama is a Income / Defensive fund managing $27945211.2 trillion in assets. The fund runs a broad portfolio of 935 positions, broad diversification across holdings, with the top 10 accounting for 28%. Trading activity is aggressive at 97% quarterly turnover, with 16 new positions and 0 exits last quarter. Top sector allocations: Other (47%), Technology (15%), Semiconductors (11%).
Read the full dossier →§ 04 · FILING HISTORY
Q-by-Q deltas
1 FILINGS
Q4 2025
Busy quarter
+16 buys · −0 exits · 899 changed
Q3 2025
Steady book
+0 buys · −0 exits · 0 changed
Q2 2025
Steady book
+0 buys · −0 exits · 0 changed
Q1 2025
Steady book
+0 buys · −0 exits · 0 changed