Virginia Retirement Systems Et Al
The Virginia Retirement System (VRS) is an independent state agency headquartered in Richmond, Virginia, and serves as the administrator for retirement, insurance, and related benefit programs covering over 742,000 active and inactive members, retirees, and beneficiaries across the Commonwealth of Virginia. VRS is the 18th largest public or private pension fund in the United States, managing over $116 billion in assets. VRS serves a broad range of public sector employees, including teachers, state and local government employees, state police, law enforcement, and judiciary. The organization was founded in 1942, employs approximately 378 people, and provides sound financial stewardship with a long-term, diversified investment approach.
Investment Strategy
The Virginia Retirement System employs a long-term, diversified investment strategy designed to provide stable returns above its actuarial rate, focusing on risk management and capital preservation in order to meet the future benefit obligations of its members. The portfolio is diversified across public and private equity, real assets, credit strategies, fixed income, and alternative investments. The asset allocation as of June 30, 2024, includes public equities (32.4%), private equity (17%), real assets (12.4%), credit strategies (15.1%), fixed income (14.7%), and other asset classes. VRS manages about one-third of its assets internally, with the goal of maximizing return while managing risk, maintaining sufficient liquidity, and controlling costs.
Top Holdings
Equity Positions (920)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
N NVDA | NVIDIA CORPORATION | 6.43% | $991.2M | 5,312,390 | $108.84 | $186.58 | +$156.8M |
M MSFT | MICROSOFT CORP | 5.75% | $885.8M | 1,710,300 | $383.78 | $517.95 | +$69.9M |
A AAPL | APPLE INC | 5.68% | $875.4M | 3,437,940 | $222.13 | $254.63 | +$164.1M |
M META | META PLATFORMS INC | 2.69% | $415.5M | 565,796 | $576.36 | $734.38 | -$10.2M |
A AMZN | AMAZON COM INC | 2.60% | $400.4M | 1,823,600 | $190.26 | $219.57 | -$33.8M |