Police & Firemen's Retirement System of New Jersey

CIK 0002040686 · Q1 2026

13F Equity AUM

$11.7B

-2.6% QoQ

Positions

3,124

-21 QoQ

AUM Rank

#596

Top 5%

Skill Alpha (FF)

—

Building track record (4q)

Quarters Tracked

~1 years

Portfolio Concentration

Top 5: 18.6%Top 10: 26.4%Top 20: 33.7%

NVDA5.4%

AAPL4.8%

MSFT3.6%

AMZN2.6%

GOOGL2.2%

AVGO1.9%

GOOG1.8%

META1.6%

TSLA1.4%

BRK/B1.2%

Others (3114)73.5%

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

Sector Allocation

Technology28.1%

Financial Services12.3%

Industrials10.4%

Healthcare10.0%

Consumer Cyclical9.7%

Communication Services8.4%

Energy4.7%

Consumer Defensive4.2%

Other12.3%

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

Position Sizing

Positions: 3124Median: 0.01%Avg: 0.03%

0–0.5%

3103(65.8%)

0.5–1%

10(6.7%)

1–3%

8(13.7%)

3–5%

2(8.4%)

5%+

1(5.4%)

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

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Portfolio Overlap

Shared: 2,978Unique: 146vs 20 funds

40%High

3,124

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.

71.3%

GEODE CAPITAL MANAGEMENT, LLC

81%

STATE STREET CORP

79.1%

VANGUARD CAPITAL MANAGEMENT LLC

77.4%

MORGAN STANLEY

48.2%

VANGUARD PORTFOLIO MANAGEMENT LLC

83.6%

BANK OF AMERICA CORP /DE/

46.8%

JPMORGAN CHASE & CO

40.9%

FMR LLC

47.7%

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

New49Increased905Decreased281Exited70

New Positions

AZNCF0.3%

+203K

LHX0.1%

+29K

PNFP0.1%

+63K

QIAGEN N.V.0.0%

+88K

SUNBELT RENTALS HOLD…0.0%

+55K

AMCOR PLC0.0%

+71K

MDLN0.0%

+50K

VSNT0.0%

+22K

MDA SPACE LTD0.0%

+47K

MAGNUM ICE CREAM CO …0.0%

+64K

Increased

PCG 4.25 12/01/270.0%

+1.2M(+110%)

RLX0.0%

+273K(+299%)

CDE0.0%

+104K(+60%)

VTEX0.0%

+76K(+320%)

HBAN0.0%

+71K(+29%)

WB0.0%

+61K(+221%)

RYN0.0%

+60K(+89%)

MOMO0.0%

+59K(+130%)

PLUN0.0%

+50K(+16%)

COMP0.0%

+42K(+32%)

Decreased

FLR 1.125 08/15/290.0%

-376,000(-36%)

POST 2.5 08/15/270.0%

-375,000(-31%)

UBER 0.875 12/01/28 0.0%

-197,000(-16%)

PNW 4.75 06/15/270.0%

-76,000(-8%)

LU0.0%

-67,747(-52%)

STNE0.0%

-49,199(-34%)

TIGR0.0%

-26,439(-75%)

TSEM0.0%

-25,754(-64%)

INTR0.0%

-19,493(-40%)

RLJ0.0%

-16,937(-41%)

Exited

-79,482

-64,834

-53,863

-60,444

-6,805

-122,663

-32,919

-104,633

-351,895

-31,202

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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