COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS

CIK 0001083190 · Q2 2026

13F Equity AUM

$20.6B

+4.9% QoQ

Positions

1,753

+3 QoQ

AUM Rank

#865

Top 7%

Skill Alpha (FF)

-3.7%/yr^ns

No Clear Edge

Rank #7,240 · Top 87%

vs S&P -2.8%/yr (unadj.)

Quarters Tracked

~5 years

Portfolio Concentration

Top 5: 17.5%Top 10: 27.1%Top 20: 38.3%

NVDA5.2%

AAPL4.6%

MSFT3.0%

AMZN2.5%

IEMG2.3%

RSP2.3%

GOOGL2.3%

AVGO1.9%

GOOG1.8%

MU1.4%

Others (1743)72.9%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Technology27.8%

Financial Services14.6%

Utilities10.4%

Industrials8.5%

Consumer Cyclical7.3%

Communication Services7.1%

Healthcare6.7%

Real Estate6.5%

Other11.0%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 1753Median: 0.01%Avg: 0.06%

0–0.5%

1722(54.7%)

0.5–1%

14(9.7%)

1–3%

15(25.8%)

3–5%

1(4.6%)

5%+

1(5.2%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 1,753vs 20 funds

0%Low

1,753

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New160Increased163Decreased1282Exited156

New Positions

MRVL0.3%

+193K

HONEYWELL AEROSPACE …0.1%

+70K

HONEYWELL INTL INC0.1%

+70K

CARNIVAL CORP LTD0.0%

+284K

CHURCHILL CAP CORP X…0.0%

+500K

RRE VENTURES ACQUISI…0.0%

+550K

NEWHOLD INVTS CORP I…0.0%

+525K

VEEV0.0%

+33K

SILVERBOX CORP V0.0%

+400K

M EVO GBL ACQUISITIO…0.0%

+400K

Increased

IEMG2.3%

+2.0M(+53%)

VICI0.2%

+513K(+70%)

RLX0.0%

+439K(+170%)

RSP2.3%

+373K(+21%)

O0.3%

+272K(+43%)

PLD0.6%

+264K(+41%)

KLAC0.4%

+258K(+845%)

EWJ0.2%

+250K(+100%)

DOC0.1%

+238K(+49%)

AES0.0%

+209K(+126%)

Decreased

TDOC 1.25 06/01/270.0%

-1,094,000(-24%)

PCG0.3%

-732,571(-16%)

NEE1.4%

-420,833(-12%)

NVDA5.2%

-310,852(-5%)

NHIC0.0%

-295,032(-74%)

CSX0.6%

-282,877(-10%)

KMI0.4%

-202,336(-7%)

AAPL4.6%

-175,827(-5%)

AXIOM INTELLIGENCE A…0.0%

-175,068(-44%)

PEO0.4%

-165,587(-9%)

Exited

WMB

-1,954,680

WMT

-1,021,126

-391,599

-475,209

-1,050,096

-577,719

-720,399

-147,892

-166,691

-78,976

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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