CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM

CIK 0001081019 · Q1 2026

13F Equity AUM

$94.5B

-5.5% QoQ

Positions

2,259

-39 QoQ

AUM Rank

#151

Top 1%

Skill Alpha (FF)

+0.4%/yr^ns

No Clear Edge

Rank #2,013 · Top 25%

vs S&P -1.4%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 22.9%Top 10: 33.0%Top 20: 42.1%

NVDA6.8%

AAPL6.0%

MSFT4.2%

AMZN3.2%

GOOGL2.7%

AVGO2.2%

GOOG2.2%

IVV2.0%

META2.0%

TSLA1.7%

Others (2249)67.0%

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

Sector Allocation

Technology31.4%

Financial Services14.3%

Communication Services9.8%

Healthcare9.7%

Consumer Cyclical9.7%

Industrials8.8%

Consumer Defensive4.4%

Energy3.9%

Other8.0%

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

Position Sizing

Positions: 2259Median: 0.00%Avg: 0.04%

0–0.5%

2230(52.9%)

0.5–1%

16(10.6%)

1–3%

9(16.4%)

3–5%

2(7.4%)

5%+

2(12.8%)

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

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Portfolio Overlap

Shared: 2,258Unique: 1vs 20 funds

30.9%Moderate

2,259

Fund positions

7,299

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.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

BlackRock, Inc.

56.7%

MORGAN STANLEY

42.8%

STATE STREET CORP

66%

GEODE CAPITAL MANAGEMENT, LLC

64.9%

BANK OF AMERICA CORP /DE/

46.5%

VANGUARD PORTFOLIO MANAGEMENT LLC

77.6%

VANGUARD CAPITAL MANAGEMENT LLC

63.8%

JPMORGAN CHASE & CO

42.1%

FMR LLC

54.7%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New20Increased1279Decreased1607Exited149

New Positions

OTF0.3%

+20.2M

IREN0.0%

+365K

VSNT0.0%

+173K

BETA0.0%

+2K

CBC0.0%

+1K

CTMX0.0%

+88K

WLTH0.0%

+2K

MDLN0.0%

+18K

LMRI0.0%

+1K

LEGN0.0%

+12K

Increased

CDE0.0%

+590K(+97%)

HBAN0.0%

+506K(+25%)

PLUN0.0%

+489K(+46%)

DCH0.0%

+283K(+3975%)

COMP0.0%

+270K(+58%)

AUR0.0%

+264K(+25%)

GON0.0%

+262K(+55%)

FITB0.1%

+260K(+25%)

VTRS0.0%

+242K(+22%)

KOS0.0%

+228K(+52%)

Decreased

NVDA6.8%

-881,237(-2%)

AAPL6.0%

-708,401(-3%)

WTRG0.0%

-525,461(-61%)

BAC0.5%

-455,585(-4%)

SABR0.0%

-349,731(-95%)

T0.3%

-343,019(-3%)

AMZN3.2%

-327,605(-2%)

AMH0.0%

-313,245(-44%)

MSFT4.2%

-251,345(-2%)

AKBA0.0%

-234,500(-94%)

Exited

-2,753,171

-187,427

-44,517

-131,683

-110,390

-120,991

-16,842

-128,553

-261,577

-264,178

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

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Holdings

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