Utah Retirement Systems

Utah Retirement Systems declares $5.2B in 147 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 49.9% of its $10.5B 13F portfolio. Largest positions: NVIDIA (0.01% of the company) and Apple (0.02% of the company). Over time: $5.2B in 147 of these companies for Q2 2026, against $1.6B in 85 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $26.2M and sold $353.2M of these stocks, at the quarter's prices: a net sale of $327.0M; 25 new positions.

Performance of its AI picks

The AI-stock portfolio Utah Retirement Systems declared for Q2 2026 (Form 13F), held unchanged, returned +4.7% in Q3 2026 (SMH -7.1%), ranked 696 of 1,785 active managers. Over the last 12 months, quarter after quarter: +29.2% (SMH +87.2%), ranked 641 of 1,360 active managers. Over three years, quarter after quarter: +152.3% (SMH +325.8%), ranked 316 of 784 active managers. Over five years, quarter after quarter: +168.5% (SMH +389.8%), ranked 206 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): $708.7M, 3.5M shares, 0.01% of the company, 6.7% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  2. Apple (AAPL): $635.2M, 2.2M shares, 0.02% of the company, 6.0% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  3. Alphabet (GOOGL): $571.2M, 1.6M shares, 0.01% of the company, 5.4% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  4. Microsoft (MSFT): $420.8M, 1.1M shares, 0.02% of the company, 4.0% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  5. Amazon (AMZN): $351.0M, 1.5M shares, 0.01% of the company, 3.3% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  6. Broadcom (AVGO): $266.8M, 706,337 shares, 0.01% of the company, 2.5% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  7. Micron (MU): $197.6M, 171,152 shares, 0.02% of the company, 1.9% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  8. Meta Platforms (META): $188.0M, 333,746 shares, 0.01% of the company, 1.8% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  9. AMD (AMD): $143.5M, 246,968 shares, 0.02% of the company, 1.4% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  10. Intel (INTC): $93.0M, 665,820 shares, 0.01% of the company, 0.88% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  11. Applied Materials (AMAT): $87.0M, 120,367 shares, 0.02% of the company, 0.83% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  12. Lam Research (LRCX): $82.2M, 189,753 shares, 0.02% of the company, 0.78% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  13. Caterpillar (CAT): $73.4M, 68,969 shares, 0.02% of the company, 0.70% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  14. Cisco (CSCO): $70.5M, 599,877 shares, 0.02% of the company, 0.67% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  15. KLA (KLAC): $59.9M, 198,605 shares, 0.02% of the company, 0.57% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier

By sector

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