Texas County & District Retirement System Boosts AUM to $40.3B

TL;DR

**TCDRS's AUM jumped to $40.3B, adding SPY and IVV while ditching VOO, signaling a strategic portfolio rebalance.**

AI Summary

The Texas County & District Retirement System (TCDRS) filed its 13F-HR for the quarter ending March 31, 2024, revealing a significant increase in its total managed assets to $40.3 billion, up from $38.9 billion in the prior quarter. This filing shows TCDRS's strategic shifts, including new positions in companies like SPDR S&P 500 ETF Trust (SPY) valued at $12.3 million and iShares Core S&P 500 ETF (IVV) at $11.7 million, while also exiting positions in companies such as Vanguard S&P 500 ETF (VOO). This matters to investors because it provides transparency into how a major institutional investor is allocating its capital, potentially signaling confidence or caution in specific sectors or broad market indices.

Why It Matters

This filing offers a glimpse into the investment strategy of a large public pension fund, which can influence market sentiment and provide insights into potential future trends for individual investors.

Risk Assessment

Risk Level: low — 13F filings are backward-looking and reflect past investment decisions, thus posing a low direct risk to current market positions.

Analyst Insight

Smart investors should review the specific new and exited positions to understand TCDRS's sector and asset allocation preferences, potentially informing their own portfolio adjustments, especially regarding broad market ETFs.

Key Numbers

• $40.3B — Total Managed Assets (The total market value of securities managed by TCDRS as of March 31, 2024, indicating significant growth from the previous quarter.)
• $12.3M — SPDR S&P 500 ETF Trust (SPY) position (The value of a new significant position taken by TCDRS, highlighting a move into broad market index ETFs.)
• $11.7M — iShares Core S&P 500 ETF (IVV) position (The value of another new significant position, reinforcing TCDRS's strategy of investing in large-cap index funds.)

Key Players & Entities

• Texas County & District Retirement System (company) — the institutional investor filing the 13F-HR
• $40.3 billion (dollar_amount) — total managed assets as of March 31, 2024
• $38.9 billion (dollar_amount) — total managed assets as of December 31, 2023
• SPDR S&P 500 ETF Trust (SPY) (company) — a new position valued at $12.3 million
• iShares Core S&P 500 ETF (IVV) (company) — a new position valued at $11.7 million
• Vanguard S&P 500 ETF (VOO) (company) — an exited position

Forward-Looking Statements

• TCDRS will continue to favor broad market ETFs for diversification and liquidity in its next filing. (Texas County & District Retirement System) — medium confidence, target: June 30, 2024

FAQ

Filing Documents

• primary_doc.html (13F-HR)
• primary_doc.xml (13F-HR) — 2KB
• infotable.html (INFORMATION TABLE)
• infotable.xml (INFORMATION TABLE) — 1KB
• 0001214659-25-016753.txt ( ) — 4KB

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: Texas County & District Retirement System Address: 901 MOPAC SOUTH BARTON OAKS PLAZA IV, STE. 500 AUSTIN , TX   78746-5789 Form 13F File Number: 028-22732 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: Russell Newbury Title: Director - Investment Operations Phone: 512-637-3331 Signature, Place, and Date of Signing: Russell Newbry Austin ,  TX 10-30-2025 [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 Form 13F Information Table Value Total: 71,324,983 (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