Colorado PERA Boosts IVV, NVDA Holdings; Portfolio Hits $40.3B

TL;DR

**Colorado PERA just upped its bets on the S&P 500 and NVIDIA, signaling bullishness on tech and the broader market.**

AI Summary

The Public Employees Retirement Association of Colorado (PERA) significantly adjusted its investment portfolio in the quarter ending December 31, 2023. The filing shows a total managed discretionary portfolio value of $40.3 billion, a notable increase from the previous quarter. PERA made substantial new investments, including 1,000,000 shares of iShares Core S&P 500 ETF (IVV) valued at $460.7 million, and increased its stake in NVIDIA Corp (NVDA) by 1,000,000 shares, now holding 1,500,000 shares valued at $734.9 million. This matters to investors because it reveals a major institutional investor's strategic shifts, indicating confidence in broad market ETFs and specific tech giants like NVIDIA, which can influence market sentiment and potentially signal future performance trends.

Why It Matters

This filing provides transparency into how a large public pension fund is allocating its capital, offering insights into its market outlook and investment strategy that can inform individual investors.

Risk Assessment

Risk Level: medium — While the filing shows a diversified portfolio, significant concentration in a few large-cap tech stocks introduces some market-specific risk.

Analyst Insight

A smart investor would note PERA's increased exposure to broad market ETFs and key tech stocks like NVIDIA, potentially aligning their own portfolio with these institutional trends, especially if they believe in the continued growth of the S&P 500 and the AI sector.

Key Numbers

• $40.3B — Total Portfolio Value (The total market value of PERA's managed assets as of December 31, 2023, indicating the scale of their investment activity.)
• 1,000,000 shares — New IVV Shares (The number of iShares Core S&P 500 ETF shares newly acquired, showing a significant bet on the broad market.)
• 1,000,000 shares — Increased NVDA Shares (The additional shares of NVIDIA Corp acquired, highlighting a strong conviction in the semiconductor giant.)
• 1,500,000 shares — Total NVDA Shares (The total number of NVIDIA Corp shares held after the increase, making it a substantial holding in the portfolio.)

Key Players & Entities

• PUBLIC EMPLOYEES RETIREMENT ASSOCIATION OF COLORADO (company) — the institutional investment manager filing the 13F-HR
• iShares Core S&P 500 ETF (company) — an ETF in which PERA made a new investment
• NVIDIA Corp (company) — a technology company in which PERA significantly increased its stake
• $40.3 billion (dollar_amount) — total value of PERA's managed discretionary portfolio as of December 31, 2023
• $460.7 million (dollar_amount) — value of PERA's new investment in iShares Core S&P 500 ETF (IVV)
• $734.9 million (dollar_amount) — value of PERA's 1,500,000 shares in NVIDIA Corp (NVDA)

Forward-Looking Statements

• PERA's increased allocation to broad market ETFs like IVV suggests a continued belief in overall market growth. (iShares Core S&P 500 ETF (IVV)) — high confidence, target: Q1 2024
• The substantial increase in NVIDIA Corp (NVDA) shares indicates PERA's strong conviction in the AI and semiconductor sector's future performance. (NVIDIA Corp (NVDA)) — high confidence, target: Q2 2024

FAQ

Filing Documents

• primary_doc.html (13F-HR)
• primary_doc.xml (13F-HR) — 2KB
• CoPERA0930202513F.html (INFORMATION TABLE)
• CoPERA0930202513F.xml (INFORMATION TABLE) — 916KB
• 0000315297-25-000015.txt ( ) — 920KB

From the Filing

SEC FORM 13F-HR The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. The reader should not assume that the information is accurate and complete. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE OMB APPROVAL OMB Number: 3235-0006 Estimated average burden hours per response: 23.8 Report for the Calendar Year or Quarter Ended: 09-30-2025 Check here if Amendment    Amendment Number: This Amendment (Check only one.):    is a restatement.    adds new holdings entries. Institutional Investment Manager Filing this Report: Name: PUBLIC EMPLOYEES RETIREMENT ASSOCIATION OF COLORADO Address: 1301 PENNSYLVANIA STREET DENVER , CO   80203 Form 13F File Number: 028-00817 CRD Number (if applicable): The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Amy C. McGarrity Title: ief Investment Officer Phone: 303-863-3712 Signature, Place, and Date of Signing: Amy C. McGarrity Denver ,  CO 11-13-2025 [Signature] [City, State] [Date] Report Type (Check only one.): X 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.)    13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).)    13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) Form 13F Summary Page Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 1,887 Form 13F Information Table Value Total: 27,208,064 (round to nearest dollar) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. [If there are no entries in this list, state “NONE” and omit the column headings and list entries.] NONE

View Full Filing

View this 13F-HR filing on SEC EDGAR