Retirement Systems of Alabama

New 13F: Q3 2026

Retirement Systems of Alabama filed its 13F for the quarter ended Sep 30, 2026 on Nov 4, 2026: $14.0B in AI and semiconductor stocks; $779.7M bought and $608.0M sold against its previous quarter, at the quarter's prices.

Retirement Systems of Alabama declares $13.3B in 126 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 40.1% of its $33.2B 13F portfolio. Largest positions: NVIDIA (0.04% of the company) and Apple (0.04% of the company). Over time: $13.3B in 126 of these companies for Q2 2026, against $5.3B in 83 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $469.8M and sold $535.8M of these stocks, at the quarter's prices: a net sale of $66.0M; 4 new positions and 1 sold out.

Performance of its AI picks

The AI-stock portfolio Retirement Systems of Alabama declared for Q2 2026 (Form 13F), held unchanged, returned +3.9% in Q3 2026 (SMH -7.1%), ranked 855 of 1,785 active managers. Over the last 12 months, quarter after quarter: +30.5% (SMH +87.2%), ranked 543 of 1,360 active managers. Over three years, quarter after quarter: +154.1% (SMH +325.8%), ranked 298 of 784 active managers. Over five years, quarter after quarter: +169.6% (SMH +389.8%), ranked 196 of 535 active managers. Trades made during a quarter are not visible in 13F filings: this measures its declared picks, not the return of its funds.

Largest positions

  1. NVIDIA (NVDA): $1.8B, 8.8M shares, 0.04% of the company, 5.3% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  2. Apple (AAPL): $1.5B, 5.2M shares, 0.04% of the company, 4.5% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  3. Alphabet (GOOGL): $1.3B, 3.7M shares, 0.03% of the company, 4.0% of its portfolio (added this quarter); held since Q4 2019 or earlier
  4. Microsoft (MSFT): $959.1M, 2.6M shares, 0.03% of the company, 2.9% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  5. Amazon (AMZN): $901.3M, 3.8M shares, 0.03% of the company, 2.7% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  6. Broadcom (AVGO): $791.9M, 2.1M shares, 0.04% of the company, 2.4% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  7. Micron (MU): $492.9M, 426,977 shares, 0.04% of the company, 1.5% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  8. Meta Platforms (META): $437.7M, 777,021 shares, 0.03% of the company, 1.3% of its portfolio (added this quarter); held since Q4 2019 or earlier
  9. Applied Materials (AMAT): $336.3M, 465,079 shares, 0.06% of the company, 1.0% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  10. Cisco (CSCO): $248.2M, 2.1M shares, 0.05% of the company, 0.75% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  11. Caterpillar (CAT): $245.9M, 230,879 shares, 0.05% of the company, 0.74% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  12. AMD (AMD): $240.3M, 413,666 shares, 0.03% of the company, 0.72% of its portfolio (added this quarter); held since Q4 2019 or earlier
  13. KLA (KLAC): $205.1M, 679,931 shares, 0.05% of the company, 0.62% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  14. IBM (IBM): $193.2M, 687,112 shares, 0.07% of the company, 0.58% of its portfolio (added this quarter); held since Q4 2019 or earlier
  15. Intel (INTC): $176.9M, 1.3M shares, 0.02% of the company, 0.53% of its portfolio (added this quarter); held since Q4 2019 or earlier

By sector

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