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Livermore
Livermore
ZHEN

Retirement Systems of Alabama

SEC CIK
0001593051
Latest filing
Jul 28, 2026

The latest 13F from Retirement Systems of Alabama covers Q2 2026 (filed Jul 28, 2026): 950 long positions worth $33.2B. The top 10 holdings make up 27.1% of the portfolio, and the largest is NVIDIA Corp (NVDA) at 5.3%. Livermore has 23 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
17
Est. +$190.3M
Added
74
Est. +$680.5M
Reduced
836
Est. −$1.68B
Sold out
14
Est. −$98.7M

Top 5 holdings

Share of this quarter's portfolio value

  1. NVDANVIDIA Corp
    5.3%$1.76BHistory
  2. AAPLApple Inc.
    4.5%$1.50BHistory
  3. MSFTMicrosoft Corp
    2.9%$959.1MHistory
  4. AMZNAmazon Com Inc
    2.7%$901.3MHistory
  5. AVGOBroadcom Inc.
    2.4%$791.9MHistory

Share of portfolio

Top 5 holdings and the other 945 positions, by share of portfolio value

  1. NVDA5.3%
  2. AAPL4.5%
  3. MSFT2.9%
  4. AMZN2.7%
  5. AVGO2.4%
  6. Other 945 positions82.2%

Biggest buys

New and added positions, by estimated amount bought

  1. NOWServiceNow, Inc.
    +$81.7MAddedHistory
  2. HPQHP Inc
    +$45.3MAddedHistory
  3. MNSTMonster Beverage Corp
    +$42.1MAddedHistory
  4. MRVLMarvell Technology, Inc.
    +$42.0MAddedHistory
  5. METAMeta Platforms, Inc.
    +$41.1MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. AMDAdvanced Micro Devices Inc
    +0.49 pp0.2% → 0.7%History
  2. INTCIntel Corp
    +0.39 pp0.1% → 0.5%History
  3. GOOGLAlphabet Inc.
    +0.34 pp1.9% → 2.2%History
  4. GOOGAlphabet Inc.
    +0.24 pp1.5% → 1.8%History
  5. NOWServiceNow, Inc.
    +0.24 pp0.1% → 0.3%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. AKAMAkamai Technologies Inc
    −$95.6MReducedHistory
  2. HPEHewlett Packard Enterprise Co
    −$88.3MReducedHistory
  3. CSCOCisco Systems, Inc.
    −$74.1MReducedHistory
  4. KDPKeurig Dr Pepper Inc.
    −$68.5MReducedHistory
  5. FLEXFlex Ltd.
    −$60.5MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. AKAMAkamai Technologies Inc
    −0.31 pp0.3% → <0.1%History
  2. MSFTMicrosoft Corp
    −0.31 pp3.2% → 2.9%History
  3. XOMExxonMobil Holdings Corp
    −0.22 pp0.8% → 0.6%History
  4. CVXChevron Corp
    −0.22 pp0.8% → 0.6%History
  5. WMTWalmart Inc.
    −0.20 pp0.7% → 0.5%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$33.2B
+$3.23B (+10.8%) vs. prior quarter
Positions
950
+3 vs. prior quarter
Top 10 concentration
27.1%
Top 10 as share of value
Turnover
2.8%
Q2 2026, one quarter
Average holding period
20.0 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $33.2B (Q2 2026)

Q1 2021: $26.5BQ2 2021: $27.7BQ3 2021: $26.7BQ4 2021: $28.7BQ1 2022: $27.3BQ2 2022: $23.3BQ3 2022: $21.5BQ4 2022: $22.9BQ1 2023: $23.1BQ2 2023: $22.3BQ3 2023: $21.4BQ4 2023: $23.6BQ1 2024: $25.9BQ2 2024: $25.9BQ3 2024: $26.7BQ4 2024: $26.9BQ1 2025: $25.7BQ2 2025: $27.9BQ3 2025: $30.1BQ4 2025: $30.8BQ1 2026: $30.0BQ2 2026: $33.2B
Q1 2021Q2 2026
13F filings of Retirement Systems of Alabama by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 28, 2026950$33.2BNVDAAAPLMSFTvs. Q1 2026SEC
Q1 2026Apr 24, 2026947$30.0BNVDAAAPLMSFTvs. Q4 2025SEC
Q4 2025Jan 15, 2026943$30.8BNVDAAAPLMSFTvs. Q3 2025SEC
Q3 2025Oct 31, 2025945$30.1BNVDAMSFTAAPLvs. Q2 2025SEC
Q2 2025Aug 4, 2025935$27.9BNVDAMSFTAAPLvs. Q1 2025SEC
Q1 2025Apr 21, 2025945$25.7BAAPLMSFTNVDAvs. Q4 2024SEC
Q4 2024Jan 27, 2025941$26.9BAAPLNVDAMSFTvs. Q3 2024SEC
Q3 2024Dec 6, 2024944$26.7BAAPLMSFTNVDAvs. Q2 2024SEC
Q2 2024Jul 24, 2024941$25.9BMSFTNVDAAAPLvs. Q1 2024SEC
Q1 2024Apr 30, 2024941$25.9BMSFTAAPLNVDAvs. Q4 2023SEC
Q4 2023Feb 5, 2024941$23.6BAAPLMSFTAMZNvs. Q3 2023SEC
Q3 2023Nov 6, 2023926$21.4BAAPLMSFTAMZNvs. Q2 2023SEC
Q2 2023Jul 31, 2023941$22.3BAAPLMSFTiShares Trvs. Q1 2023SEC
Q1 2023May 1, 2023929$23.1BAAPLMSFTiShares Trvs. Q4 2022SEC
Q4 2022Feb 6, 2023939$22.9BAAPLMSFTiShares Trvs. Q3 2022SEC
Q3 2022Nov 16, 2022Amended931$21.5BAAPLMSFTiShares Trvs. Q2 2022SEC
Q2 2022Aug 3, 2022938$23.3BAAPLMSFTiShares Trvs. Q1 2022SEC
Q1 2022Apr 20, 2022924$27.3BAAPLMSFTiShares Trvs. Q4 2021SEC
Q4 2021Jan 20, 2022922$28.7BAAPLMSFTiShares Trvs. Q3 2021SEC
Q3 2021Nov 3, 2021920$26.7BAAPLMSFTiShares Trvs. Q2 2021SEC
Q2 2021Jul 21, 2021920$27.7BAAPLMSFTiShares Trvs. Q1 2021SEC
Q1 2021Apr 15, 2021931$26.5BAAPLMSFTiShares Tr–SEC