State of New Jersey Common Pension Fund D

New 13F: Q3 2026

State of New Jersey Common Pension Fund D filed its 13F for the quarter ended Sep 30, 2026 on Nov 5, 2026: $11.9B in AI and semiconductor stocks; $43.7M bought and $24.3M sold against its previous quarter, at the quarter's prices.

State of New Jersey Common Pension Fund D declares $11.4B in 192 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 39.0% of its $29.3B 13F portfolio. Largest positions: NVIDIA (0.03% of the company) and Apple (0.03% of the company). Over time: $11.4B in 192 of these companies for Q2 2026, against $6.4B in 122 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $46.9M and sold $803.3M of these stocks, at the quarter's prices: a net sale of $756.3M; 32 new positions.

Performance of its AI picks

The AI-stock portfolio State of New Jersey Common Pension Fund D declared for Q2 2026 (Form 13F), held unchanged, returned +4.0% in Q3 2026 (SMH -7.1%), ranked 829 of 1,785 active managers. Over the last 12 months, quarter after quarter: +30.0% (SMH +87.2%), ranked 574 of 1,360 active managers. Over three years, quarter after quarter: +155.2% (SMH +325.8%), ranked 292 of 784 active managers. Over five years, quarter after quarter: +168.4% (SMH +389.8%), ranked 207 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): $1.5B, 7.5M shares, 0.03% of the company, 5.1% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  2. Apple (AAPL): $1.4B, 4.7M shares, 0.03% of the company, 4.7% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  3. Alphabet (GOOGL): $1.2B, 3.4M shares, 0.03% of the company, 4.1% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  4. Microsoft (MSFT): $851.2M, 2.3M shares, 0.03% of the company, 2.9% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  5. Amazon (AMZN): $746.3M, 3.1M shares, 0.03% of the company, 2.5% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  6. Broadcom (AVGO): $549.4M, 1.5M shares, 0.03% of the company, 1.9% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  7. Micron (MU): $420.9M, 364,643 shares, 0.03% of the company, 1.4% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  8. Meta Platforms (META): $400.1M, 710,344 shares, 0.03% of the company, 1.4% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  9. AMD (AMD): $306.2M, 527,156 shares, 0.03% of the company, 1.0% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  10. Intel (INTC): $198.4M, 1.4M shares, 0.03% of the company, 0.68% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  11. Applied Materials (AMAT): $185.5M, 256,607 shares, 0.03% of the company, 0.63% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  12. Lam Research (LRCX): $175.0M, 403,780 shares, 0.03% of the company, 0.60% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  13. Caterpillar (CAT): $160.2M, 150,411 shares, 0.03% of the company, 0.55% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  14. Cisco (CSCO): $150.0M, 1.3M shares, 0.03% of the company, 0.51% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  15. KLA (KLAC): $127.9M, 423,830 shares, 0.03% of the company, 0.44% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier

By sector

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