Employees Retirement System of Texas
The Employees Retirement System of Texas (ERS) is a public pension fund headquartered in Austin, TX. ERS administers retirement and other benefit programs for employees and retirees of Texas state agencies and some higher education institutions. Established in 1947, ERS provides pension and health benefits to current and former public servants in the state of Texas. As a public institutional investor, ERS oversees a diversified portfolio and manages retirement assets on behalf of its members. The organization employs several hundred staff to oversee benefit administration and investment management.
Investment Strategy
ERS manages a diversified investment portfolio across multiple asset classes including public equity, fixed income, private equity, real estate, hedge funds, and other alternative assets. The investment approach aims to deliver sustainable long-term returns to support current and future benefit payments while managing risk and adhering to prudent fiduciary standards. ERS utilizes both internal and external managers and incorporates environmental, social, and governance (ESG) considerations where appropriate to align with member interests and the fund’s long-term liabilities.
Top Holdings
Equity Positions (518)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
V VGIT | VANGUARD SCOTTSDALE FDS | 11.62% | $1.43B | 23,875,000 | $57.96 | $59.81 | +$9.8M |
M MSFT | MICROSOFT CORP | 5.18% | $636.4M | 1,279,514 | $150.50 | $497.41 | +$174.6M |
N NVDA | NVIDIA CORPORATION | 4.84% | $595.3M | 3,768,129 | $15.24 | $157.99 | +$184.2M |
A AAPL | APPLE INC | 4.03% | $495.4M | 2,414,514 | $141.16 | $205.17 | +$60.9M |
H HYLB | DBX ETF TR | 3.82% | $470.1M | 12,732,000 | $35.81 | $36.92 | +$9.8M |