Utah Retirement Systems

CIK 0001548392 · Q2 2026

13F Equity AUM

$10.5B

+7.5% QoQ

Positions

1,027

+53 QoQ

AUM Rank

#493

Top 6%

Skill Alpha (FF)

+0.4%/yr^ns

No Clear Edge

Rank #2,350 · Top 28%

vs S&P +0.7%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 23.1%Top 10: 33.5%Top 20: 43.7%

NVDA6.7%

AAPL6.0%

MSFT4.0%

AMZN3.3%

GOOGL3.0%

AVGO2.5%

GOOG2.4%

MU1.9%

META1.8%

TSLA1.8%

Others (1017)66.5%

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

Sector Allocation

Technology36.5%

Financial Services11.8%

Communication Services9.5%

Consumer Cyclical9.1%

Healthcare8.7%

Industrials8.3%

Consumer Defensive3.9%

Energy3.7%

Other8.7%

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

Position Sizing

Positions: 1027Median: 0.02%Avg: 0.10%

0–0.5%

996(49.7%)

0.5–1%

17(11.7%)

1–3%

9(15.5%)

3–5%

3(10.3%)

5%+

2(12.8%)

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

Loading summary cards...

Portfolio Overlap

Shared: 0Unique: 1,027vs 20 funds

0%Low

1,027

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.

Loading overlap analysis...

Position Changes This Quarter

New85Increased35Decreased767Exited33

New Positions

HONEYWELL INTL INC0.1%

+48K

HONEYWELL AEROSPACE …0.1%

+48K

CARNIVAL CORP LTD0.1%

+193K

SPACE EXPLORATION TE…0.0%

+28K

DUPONT DE NEMOURS IN…0.0%

+21K

FEDEX FGHT HLDG CO I…0.0%

+17K

CRDO0.0%

+9K

TTMI0.0%

+5K

SMTC0.0%

+5K

DY0.0%

+2K

Increased

KLAC0.6%

+177K(+828%)

BKNG0.2%

+112K(+2123%)

CVNA0.1%

+83K(+379%)

DVN0.1%

+67K(+64%)

CRWV0.1%

+20K(+63%)

MIGA0.0%

+18K(+58%)

BE0.1%

+17K(+72%)

SUNBELT RENTALS HOLD…0.0%

+17K(+37%)

GFL0.0%

+10K(+36%)

MDLN0.0%

+6K(+36%)

Decreased

NVDA6.7%

-263,317(-7%)

AAPL6.0%

-147,084(-6%)

T0.2%

-95,072(-8%)

AMZN3.3%

-86,745(-6%)

MSFT4.0%

-77,785(-6%)

BAC0.5%

-63,625(-6%)

GOOGL3.0%

-60,378(-6%)

PFE0.2%

-59,116(-6%)

XOM0.8%

-55,009(-8%)

INTC0.9%

-52,831(-7%)

Exited

-103,354

-186,283

-42,177

-122,458

-67,949

-36,210

-78,391

-98,579

-15,021

-2,447

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

Loading position changes...

Holdings

Loading holdings...