Public Filings

VIRGINIA RETIREMENT SYSTEMS ET Al

$16.8B reported 13(f) long value · latest quarter 2025-12-31 · CIK 0001005354 · EDGAR ↗
A quarter-end snapshot. Filed up to 45 days later, so this page is not current holdings and never a complete portfolio. what a 13F is — and is not ↓ · methodology §13F ↗
Period
$16.8B
reported valuesum of disclosed values for 2025-12-31; 0 positions carry a NULL value and are excluded from the sum, surfaced here rather than folded away
949
positionsALL retained default holdings for this (filer, period), including NULL-value ones
145
new stakespositions with no comparable holding in the prior quarter (kind new), 2025-12-31
123
exitspositions absent from this quarter's filing after being held last quarter (kind exit), 2025-12-31 — inferred from absence, not a sale record

Position changes — into 2025-12-31

by shares · Δ value · filing link · how changes are classified §
Positionposition matched across quarters by exact reported CUSIP over a registry gap — producer-reconciled identity, never a name match identity_reconciled_by_cusipChangethe reported share count is unchanged across the pair, so the position reads as held rather than as a buy or a sell; only builds before this release inferred a direction from the reported value instead classified_by_value · "exit" = absent this quarter: disposed, delisted, under confidential treatment, or reported instead by an affiliated manager — the filing does not say which · change not classifiable: value undisclosed on one side of the quarter pair, or neither shares nor value can classify it · "no change" = the share count is identical in both quarters; the value moved only with price, so the row is mark-to-market and never an add or a trim (Add / New / Trim / Exit / No change) · "no prior" = this filer has no comparable holdings list for the previous quarter on record — a first filing under this registration, or a quarter reported inside an affiliated manager's filing — so the position is not called a new stakeΔ valuederived by Public Filings from the published aggregate; NULL means the source did not disclose a usable value — never zeroΔ sharesreported unit changed across the pair (SH↔PRN); the share delta is withheld rather than fabricated shares_unit_mismatchPrev valueCurr valuePrev sharesCurr sharesFlags
pos:14088add+$179M+442,100$875M$1.1B3,437,9403,880,040
pos:16535trim−$53.0M−282,000$991M$938M5,312,3905,030,390
pos:12680add−$40.8M+36,980$886M$845M1,710,3001,747,280
pos:15054add+$242M+959,300$400M$642M1,823,6002,782,900
pos:16029add+$224M+439,800$302M$526M1,241,2721,681,072
pos:12241add+$19.5M+93,178$416M$435M565,796658,974
pos:13695add+$93.7M+236,600$241M$334M729,710966,310
pos:18738add+$87.1M+55,600$241M$329M991,5001,047,100
pos:11149new+$320M+467,000$0$320M—467,000
pos:11199add+$9.3M+17,000$149M$158M334,931351,931
pos:14365add+$107M+929,400$38.9M$146M377,3261,306,726
pos:18668trim+$16.3M−151,000$127M$143M1,507,3381,356,338
pos:11444trim−$262K−124,700$142M$142M1,281,3951,156,695
pos:18958add+$9.6M+21,160$130M$140M413,538434,698
pos:13716add+$21.2M+51,520$116M$137M340,121391,641
pos:17312trim+$8.1M−8,480$127M$135M297,300288,820
pos:18034trim+$26.5M−1,300$93.7M$120M906,700905,400
pos:11781add−$3.8M+125,100$121M$118M2,762,7052,887,805
pos:15901trim−$25.1M−126,200$140M$115M2,118,7001,992,500
pos:14282add+$21.2M+143,300$92.5M$114M608,700752,000
pos:16109add+$74.1M+161,386$39.7M$114M237,200398,586
pos:13229add+$2.6M+77,500$111M$113M826,268903,768
pos:14517add+$21.0M+71,200$82.3M$103M402,622473,822
pos:16757add+$42.4M+16,640$59.9M$102M78,56495,204
pos:12796trim−$3.4M−16,240$105M$102M132,076115,836
pos:11277trim−$6.3M−64,100$107M$100M1,332,7001,268,600
pos:11298trim+$19.5M−16,370$80.1M$99.6M598,175581,805
pos:12054trim−$8.0M−15,920$106M$98.5M211,807195,887
pos:12991trim−$4.5M−138,400$93.6M$89.1M952,150813,750
pos:11105trim−$21.5M−217,100$109M$87.3M1,615,0001,397,900
pos:13701add+$25.3M+148,275$54.5M$79.8M813,100961,375
pos:13359trim−$2.8M−15,520$82.4M$79.6M273,900258,380
pos:17948add+$18.1M+114,800$61.3M$79.4M971,5001,086,300
pos:18440trim−$19.1M−171,300$98.2M$79.1M1,079,908908,608
pos:16056trim−$32.2M−418,400$111M$79.1M1,096,360677,960
pos:17613trim−$2.9M−9,800$81.6M$78.6M434,630424,830
pos:10976add+$63.2M+211,040$14.0M$77.2M49,700260,740
pos:12474trim−$27.3M−222,400$104M$76.7M654,400432,000
pos:16326add−$34.4M+710,967$110M$75.2M91,413802,380
pos:11700add+$3.2M+710$71.5M$74.8M13,25113,961
pos:16392add+$6.4M+32,000$67.9M$74.3M293,111325,111
pos:12530trim−$51.9M−146,260$125M$73.1M447,191300,931
pos:17012add+$9.9M+29,860$63.0M$73.0M181,872211,732
pos:12026add+$12.5M+54,000$59.7M$72.2M335,160389,160
pos:14039trim−$22.2M−49,200$92.8M$70.6M321,371272,171
pos:18448trim+$570K−8,200$70.0M$70.5M420,629412,429
pos:15436add+$10.4M+54,500$57.0M$67.4M505,172559,672
pos:16993add+$40.8M+62,865$25.7M$66.4M35,70098,565
pos:16335trim−$18.2M−69,800$84.1M$65.9M311,100241,300
pos:18866add+$34.8M+387,824$30.0M$64.9M363,800751,624
pos:13519trim−$52.5M−1,312,117$113M$60.6M3,466,7572,154,640
pos:18200add+$22.7M+65,807$37.5M$60.2M106,314172,121
pos:16583add+$48.6M+420,005$11.6M$60.2M93,900513,905
pos:12430trim−$12.6M−40,100$72.6M$60.0M497,980457,880
pos:11487trim−$10.7M−175,500$69.8M$59.1M690,255514,755
pos:16712add+$520K+90,500$58.5M$59.1M710,900801,400
pos:16086trim−$14.1M−82,600$72.7M$58.7M448,300365,700
pos:19023add+$4.6M+9,400$53.5M$58.1M490,759500,159
pos:17342trim−$14.2M−247,600$71.8M$57.6M923,311675,711
pos:13311trim−$2.3M−4,100$59.5M$57.3M326,400322,300
pos:18845add+$21.0M+40,768$35.4M$56.4M58,10098,868
pos:12443add+$26.1M+45,473$29.9M$56.0M46,10091,573
pos:13020add+$1.7M+18,200$54.2M$56.0M528,500546,700
pos:16471trim−$3.4M−47,500$58.4M$55.0M247,300199,800
pos:11397trim−$9.8M−100$64.5M$54.7M269,600269,500
pos:18083trim−$3.1M−2,700$56.1M$53.1M112,402109,702
pos:16491add+$33.2M+147,094$18.0M$51.1M149,600296,694
pos:12497trim+$3.5M−13,100$46.1M$49.6M397,600384,500
pos:11583trim−$19.0M−1,031,200$68.6M$49.6M3,918,4002,887,200
pos:13120trim−$7.6M−12,000$57.0M$49.4M661,312649,312
pos:18589add+$27.6M+79,400$20.9M$48.6M88,728168,128
pos:17186add+$682K+9,840$47.8M$48.5M50,10059,940
pos:18545trim+$2.6M−3,840$45.9M$48.5M84,00080,160
pos:16721trim−$20.4M−387,400$68.6M$48.2M965,370577,970
pos:15658add+$24.6M+104,300$23.0M$47.6M104,800209,100
pos:15512add+$19.7M+74,900$25.9M$45.6M273,111348,011
pos:14629add−$10.0M+900$55.6M$45.5M450,800451,700
pos:17269trim−$3.7M−9,720$49.1M$45.4M76,80867,088
pos:11790add+$4.4M+136,400$40.4M$44.9M867,2291,003,629
pos:12089add+$10.5M+155,500$34.1M$44.5M405,247560,747
pos:17942trim−$22.4M−373,264$66.9M$44.5M883,064509,800
pos:16914add+$14.2M+102,700$29.1M$43.2M280,200382,900
pos:14809trim−$4.4M−131,200$47.3M$42.9M561,200430,000
pos:11886trim−$11.2M−49,900$53.6M$42.4M597,518547,618
pos:12674add+$20.5M+630,200$21.8M$42.3M755,4001,385,600
pos:14938add+$13.6M+21,500$27.9M$41.5M172,500194,000
pos:14107add+$15.7M+254,200$25.8M$41.5M500,269754,469
pos:11393trim−$7.6M−26,760$49.1M$41.5M188,664161,904
pos:15311add+$4.0M+11,600$37.1M$41.2M189,200200,800
pos:18191add−$394K+360$40.5M$40.1M118,800119,160
pos:18624add+$16.9M+80,100$23.1M$40.0M188,121268,221
pos:17072trim−$20.5M−71,485$59.8M$39.3M422,985351,500
pos:12486add+$2.7M+4,500$35.9M$38.5M45,80450,304
pos:13288trim−$2.0M−1,200$39.7M$37.7M210,200209,000
pos:14225trim−$22.7M−642,450$60.2M$37.6M1,994,0001,351,550
pos:11889add+$164K+4,250$36.8M$37.0M492,400496,650
pos:17054add+$6.9M+232,100$29.8M$36.7M615,300847,400
pos:18816add+$8.7M+45,400$27.3M$35.9M188,600234,000
pos:15086trim−$9.5M−16,960$45.4M$35.9M79,76262,802
pos:13144add+$5.7M+38,600$29.4M$35.1M218,100256,700

80 more changes below.

1–100 of 977 changes
Mark-to-market only (no share change) · 95

Positions whose share count is identical in both quarters; the value changed with price, not with a decision.

Positionposition matched across quarters by exact reported CUSIP over a registry gap — producer-reconciled identity, never a name match identity_reconciled_by_cusipChangethe reported share count is unchanged across the pair, so the position reads as held rather than as a buy or a sell; only builds before this release inferred a direction from the reported value instead classified_by_value · "exit" = absent this quarter: disposed, delisted, under confidential treatment, or reported instead by an affiliated manager — the filing does not say which · change not classifiable: value undisclosed on one side of the quarter pair, or neither shares nor value can classify it · "no change" = the share count is identical in both quarters; the value moved only with price, so the row is mark-to-market and never an add or a trim (Add / New / Trim / Exit / No change) · "no prior" = this filer has no comparable holdings list for the previous quarter on record — a first filing under this registration, or a quarter reported inside an affiliated manager's filing — so the position is not called a new stakeΔ valuederived by Public Filings from the published aggregate; NULL means the source did not disclose a usable value — never zeroΔ sharesreported unit changed across the pair (SH↔PRN); the share delta is withheld rather than fabricated shares_unit_mismatchPrev valueCurr valuePrev sharesCurr sharesFlags
pos:14474no change+$25.0M0$215M$240M1,158,9031,158,903
pos:15894no change+$19.8M0$101M$121M2,234,4962,234,496
pos:17343no change−$15.3M0$127M$112M4,494,2034,494,203
pos:15338no change+$2.5M0$79.2M$81.7M937,700937,700
pos:12031no change+$1.9M0$79.2M$81.1M322,990322,990
pos:16771no change+$10.7M0$65.2M$75.9M768,325768,325
pos:11168no change−$445K0$70.1M$69.7M1,935,4151,935,415
pos:19106no change+$7.6M0$60.3M$67.9M55,91355,913
pos:17434no change+$16.7M0$49.9M$66.6M818,712818,712
pos:17094no change+$6.2M0$53.9M$60.1M470,520470,520
pos:12441no change−$13.3M0$70.6M$57.3M567,700567,700
pos:16994no change+$280K0$49.0M$49.3M161,200161,200
pos:16385no change−$2.3M0$50.9M$48.6M176,700176,700
pos:19000no change−$4.9M0$52.7M$47.8M6,5606,560
pos:13745no change−$4.8M0$51.5M$46.7M376,500376,500
pos:18342no change+$3.7M0$41.7M$45.3M168,928168,928
pos:13593no change+$4.8M0$40.4M$45.2M170,501170,501
pos:14709no change+$840K0$38.3M$39.2M272,816272,816
pos:11401no change−$4.9M0$43.1M$38.3M326,531326,531
pos:18305no change−$4.2M0$40.5M$36.4M195,937195,937
pos:12205no change−$408K0$34.2M$33.8M340,300340,300
pos:17501no change−$772K0$34.5M$33.8M129,070129,070
pos:15625no change+$890K0$29.7M$30.6M1,046,6451,046,645
pos:16081no change−$1.2M0$31.4M$30.2M376,400376,400
pos:13791no change−$3.1M0$32.5M$29.4M274,400274,400
pos:17802no change+$1.5M0$20.4M$21.9M479,861479,861
pos:13299no change−$2.1M0$23.6M$21.5M123,876123,876
pos:13222no change+$3.9M0$17.5M$21.4M307,800307,800
pos:17900no change+$521K0$18.2M$18.7M64,81164,811
pos:15380no change−$4.9M0$23.2M$18.3M5,4005,400
pos:12704no change+$1.8M0$16.2M$18.0M48,70048,700
pos:18754no change+$2.1M0$15.6M$17.7M12,73112,731
pos:14708no change−$541K0$18.0M$17.5M26,40026,400
pos:17675no change−$2.2M0$19.5M$17.3M77,50077,500
pos:11430no change+$2.3M0$14.5M$16.8M37,10037,100
pos:16159no change+$625K0$16.1M$16.7M151,600151,600
pos:18105no change−$1.1M0$17.9M$16.7M167,592167,592
pos:16860no change−$830K0$17.5M$16.6M258,690258,690
pos:15549no change−$1.3M0$17.7M$16.4M125,687125,687
pos:16576no change−$1.2M0$17.1M$15.9M99,10099,100
pos:16034no change+$2.0M0$11.7M$13.7M70,30070,300
pos:15780no change−$482K0$14.0M$13.5M32,40032,400
pos:16755no change+$1.2M0$11.8M$13.0M167,970167,970
pos:11655no change+$1.7M0$10.4M$12.1M108,000108,000
pos:11035no change−$1.4M0$13.3M$11.8M26,60026,600
pos:16130no change+$339K0$10.3M$10.6M76,90076,900
pos:10997no change+$1.5M0$7.9M$9.3M94,20094,200
pos:12755no change−$1.5M0$10.4M$9.0M71,20071,200
pos:14668no change−$1.0M0$9.3M$8.3M322,590322,590
pos:11336no change+$323K0$6.0M$6.3M89,90989,909
pos:11863no change+$237K0$5.8M$6.0M48,30048,300
pos:11999no change−$252K0$5.7M$5.5M33,67133,671
pos:12115no change−$1.1M0$6.4M$5.3M26,00026,000
pos:18461no change+$27.4K0$3.7M$3.7M152,000152,000
pos:16952no change+$347K0$3.3M$3.7M82,60082,600
pos:16524no change+$407K0$3.2M$3.7M97,60097,600
pos:17688no change+$387K0$3.1M$3.5M386,900386,900
pos:17024no change−$128K0$3.2M$3.1M25,18025,180
pos:15702no change+$178K0$2.9M$3.1M70,29970,299
pos:11153no change+$53.4K0$3.0M$3.0M35,35535,355
pos:11113no change+$88.2K0$2.9M$3.0M78,72878,728
pos:13901no change+$8.0K0$3.0M$3.0M57,30057,300
pos:12561no change−$142K0$3.1M$3.0M38,41938,419
pos:16546no change+$205K0$2.6M$2.8M9,9009,900
pos:14148no change−$559K0$3.3M$2.7M3,9643,964
pos:16748no change−$91.7K0$2.7M$2.6M39,68039,680
pos:17595no change+$312K0$1.9M$2.2M236,002236,002
pos:13633no change−$136K0$2.2M$2.1M15,00015,000
pos:11786no change−$201K0$1.7M$1.5M14,50014,500
pos:15391no change−$168K0$1.6M$1.4M18,56518,565
pos:18173no change−$295K0$1.7M$1.4M46,73146,731
pos:14134no change−$288K0$1.6M$1.3M16,63816,638
pos:16233no change−$107K0$1.3M$1.2M11,70011,700
pos:15073no change−$74.7K0$1.3M$1.2M12,89812,898
pos:17566no change−$375K0$1.4M$1.0M39,00039,000
pos:18090no change−$226K0$1.2M$983K8,4158,415
pos:18693no change−$140K0$1.1M$948K14,30814,308
pos:18634no change−$94.7K0$1.0M$931K13,80013,800
pos:12799no change+$19.8K0$910K$930K15,50015,500
pos:17581no change−$118K0$1.0M$904K34,01834,018
pos:12347no change−$48.0K0$894K$846K4,1004,100
pos:12262no change−$36.2K0$835K$799K8,0008,000
pos:14969no change−$540K0$1.3M$768K15,69015,690
pos:16428no change−$30.1K0$775K$745K14,60414,604
pos:13363no change+$64.9K0$405K$470K1,5001,500
pos:15244no change+$132K0$320K$452K25,20025,200
pos:13524no change−$175K0$579K$404K39,90039,900
pos:15184no change−$59.9K0$421K$361K900900
pos:16339no change+$48.5K0$299K$347K35,90035,900
pos:17219no change−$33.1K0$368K$335K2,8002,800
pos:19039no change+$34.3K0$267K$302K2,2002,200
pos:14432no change−$8.2K0$228K$220K22,80022,800
pos:13849no change−$26.6K0$229K$203K14,80014,800
pos:19022no change−$63.6K0$190K$127K10,00010,000
pos:16573no change−$82.8K0$192K$110K13,20013,200
Quarter ended 2025-12-31Newest filing in this build: 2026-07-31. Per-row filing dates are on each receipt.
Truncated by Public Filings. Changes derive from the aggregate's top-25 slices and keyable positions only; unkeyable holdings are counted in the registry, not differenced. methodology §13F ↗

Book shape

2025-12-31 · concentration · vs tracked median · tick = median
Top-25 concentration
45.2%below median 80.2%
Concentration index
164 bpsbelow median 449 bps
Positions with value
949 / 949median book 97 positions

Concentration uses reported 13F long value, not total assets. The index is withheld when any position lacks a value. Medians are over the 8,689 tracked filers with a 2025-12-31 book; the index median over the 8,593 with a complete book.

null-value positions: 0holdings whose <value> did not parse — retained and counted, never zero-filled · top-N share ·§: 45.2%share of the period's disclosed value held in the top-N positions; denominator is reported 13F value, not total assets · HHI (bps) ·§: 164integer Herfindahl–Hirschman index in basis points over disclosed position values · QoQ moves: 1,072

Filing history

AVAILABLE QUARTERS
PeriodSource
2025-06-30EDGAR ↗
2025-09-30EDGAR ↗
2025-12-31EDGAR ↗

PLANNED sector rotation · Congress overlap · signals for this filer

Complete source filings on SEC EDGAR

The complete filing on EDGAR.

The position list above is served from the published Public Filings build — every position this filer reported for the selected quarter, as it reported it. This block is provenance, not a substitute: the filing itself is the record, and it is one click away. Serving this list is M2-CONTRACT §3, amended 2026-08-02; §3.1 keeps live EDGAR for filings newer than this build.

Open VIRGINIA RETIREMENT SYSTEMS ET Al's 13F filings on SEC EDGAR ↗
Notes on this data
Reported positions

Quarter-end holdings as filed

Explore the full published position list and its source filing. This record excludes the manager’s cash, shorts and non-13(f) assets.

Share changes

Compare consecutive quarters

Position changes retain the producer’s classification and comparability flags. Share counts and reported values describe different changes.

Coverage

A snapshot, not current holdings

Use the quarter selector to inspect available periods. Unknown values stay unknown and each table states its coverage.

Reported positions

not published in this build

This build does not ship the holdings list, so the per-filer position list is not served here. M2-CONTRACT §3 was amended on 2026-08-02 to serve it; a build that has not published it says so rather than rendering an empty table. The primary source is the filing itself:

Open the 13F filings on SEC EDGAR ↗

A 13F is a quarterly, long-only snapshot filed up to 45 days late — not current holdings. what a 13F covers ↗

13F reports cover LONG positions in Section 13(f) securities (US exchange-traded equities plus reportable options, warrants, certain convertibles) held by managers with at least $100M in such securities — so managers below that threshold are absent entirely. No short positions, no cash, no non-13(f) assets — not a full portfolio, and not a census of institutional ownership.

Positions are quarter-end snapshots filed up to 45 days late — not current holdings. A position may have been changed or closed before you ever see it, and is older still by however long ago that quarter ended.

Values are the manager's stated market value at quarter-end in era-dependent units (whole dollars for form versions effective 2023-01-03 onward, thousands before), normalized here to whole dollars with unit_basis carried on every record.

Affiliated managers may report the same position (otherManager), so one position can appear under more than one filer.

Positions under confidential treatment may be omitted until a later amendment discloses them.

These are disclosures, not investment advice (ARCHITECTURE.md §5.2 / M2-CONTRACT §5).