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Retirement Systems Of Alabama
David G. Bronner · Pension Fund · Multi-Strategy
The Retirement Systems of Alabama (RSA) is the public pension fund administrator for the state of Alabama, managing the retirement benefits of state employees, public education personnel, and judicial officers. Established in 1939 and led for over five decades by CEO Dr. David G. Bronner, the institution oversees several key funds including the Teachers' Retirement System, the Employees' Retirement System, and the Judicial Retirement Fund. RSA is globally recognized for its unique and proactive investment strategy that includes significant direct investments in Alabama’s economy and infrastructure, most notably the creation of the Robert Trent Jones Golf Trail and various high-profile real estate developments. As one of the largest internally managed pension systems in the United States, it focuses on achieving sustainable long-term returns to ensure the financial security of its more than 385,000 members.
Simulated Performance
| Metric | Value |
|---|---|
| Total return | +22.9% |
| YTD return | +16.5% |
| Sharpe ratio | 3.61 |
| Win rate | 51% |
| AUM | $11.8B |
| Inception | Oct 1, 2025 |
| Updated | Sep 4, 2026 |
Institution Status
| Field | Value |
|---|---|
| AUM | $11.8B |
| Turnover | Low (<15%) |
| Avg holding | 18 Months |
| Inception | Oct 1, 2025 |
| Website | https://www.rsa-al.gov |
Current Holdings
Updated on Sep 4, 2026.
| Ticker | Name | Portfolio % | Return |
|---|---|---|---|
| NVDA | NVIDIA Corporation | 16.1% | +20.3% |
| AAPL | Apple Inc | 13.7% | +22.0% |
| GOOGL | Alphabet Inc Class A | 10.9% | +32.1% |
| MSFT | Microsoft Corporation | 10.6% | -0.3% |
| AMZN | Amazon.com Inc | 8.3% | +13.1% |
| AVGO | Broadcom Inc | 6.5% | +4.1% |
| META | Meta Platforms Inc. | 3.6% | -8.7% |
| MU | Micron Technology Inc | 3.5% | +170.8% |
| BRK-A | Berkshire Hathaway Inc | 3.1% | +2.2% |
| JPM | JPMorgan Chase & Co | 2.6% | +15.0% |
| TSLA | Tesla Inc | 2.6% | -18.7% |
| JNJ | Johnson & Johnson | 2.5% | +42.4% |
| V | Visa Inc. Class A | 2.3% | +8.1% |
| LLY | Eli Lilly and Company | 2.1% | -0.1% |
| CVX | Chevron Corp | 2.0% | +16.9% |
| CSCO | Cisco Systems Inc | 2.0% | +53.2% |
| XOM | Exxon Mobil Corp | 2.0% | +7.8% |
| AMAT | Applied Materials Inc | 1.9% | -2.3% |
| ABBV | AbbVie Inc | 1.8% | -3.2% |
| MA | Mastercard Inc | 1.8% | -0.2% |
Recent activity
| Date | Action | Ticker | Weight |
|---|---|---|---|
| Aug 24, 2026 | SELL | MSFT | 10.8% → 10.6% |
| Aug 24, 2026 | SELL | GOOGL | 10.8% → 10.9% |
| Aug 24, 2026 | BUY | AMAT | 2.0% → 1.9% |
| Aug 24, 2026 | SELL | AMD | 1.7% → 0.0% |
| Aug 24, 2026 | BUY | XOM | 1.9% → 2.0% |
Investment Style Analysis
Retirement Systems Of Alabama is widely recognized for employing a Multi-Strategy strategy. As of Sep 4, 2026, the firm oversees approximately $11.8B in assets under management (AUM). The portfolio demonstrates a clear preference for the Semiconductors and Internet Content & Information sectors, reflecting a high-conviction approach to capital allocation.
Recent Market Moves
During the latest rebalancing period ending Aug 24, Retirement Systems Of Alabama made a significant move by reducing the position in MSFT. This adjustment aligns with the fund's dynamic approach to risk management and capital deployment in current market conditions.
Investment Philosophy
The Retirement Systems of Alabama employs a long-term investment philosophy centered on strategic asset allocation as the primary driver of performance. The fund maintains a highly diversified portfolio across multiple asset classes, including domestic and international equities, fixed income, and extensive direct real estate holdings. RSA emphasizes internal management through a professional staff of analysts to keep investment expenses low while maintaining high standards of prudence and transparency. The core strategy prioritizes the management of liabilities by seeking to maximize total returns within an acceptable risk framework, utilizing a spectrum of market-related risk investments to ensure the enduring stability of its members' pension benefits.
Disclaimer
The content provided on this page, including the simulated portfolio performance, holdings analysis, and AI-generated insights, is for informational and educational purposes only. It does not constitute financial advice, investment recommendations, or an offer to buy or sell any securities. All data is derived from historical SEC 13F filings and other public disclosures, which have a reporting lag. The "Simulated Performance" is a hypothetical reconstruction based on past disclosures and does not represent the actual returns of the institution. Past performance is not indicative of future results. Tritonix.ai is not affiliated with Retirement Systems Of Alabama.
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Frequently asked questions
How is the simulated portfolio for Retirement Systems Of Alabama constructed?
This simulation is powered by Tritonix AI using official SEC filings. We focus on the "Best Ideas" by filtering for only the Top 20 largest holdings and rebalancing them to 100%. The simulation tracks performance starting from Oct 1, 2025. Our AI monitors for updates every Monday to capture major shifts. This concentrated approach highlights the manager's true stock-picking skill and mirrors their actual investment returns.
What is Retirement Systems Of Alabama's largest holding?
As of the latest filing, Retirement Systems Of Alabama's top position is NVIDIA Corporation (NVDA), representing 16.1% of the portfolio. This reflects a high-conviction bet by the institution.
What is Retirement Systems Of Alabama's historical performance and risk profile?
Our simulation indicates a total return of +22.9% with a win rate of 51%. Notably, the portfolio maintains a Sharpe Ratio of 3.61, suggesting an exceptional level of risk-adjusted returns compared to the broader market.
What sectors does Retirement Systems Of Alabama primarily invest in?
Retirement Systems Of Alabama has a strong preference for the Semiconductors sector, which makes up 26.2% of their disclosed assets. The portfolio also has exposure to Internet Content & Information, indicating a specific thematic focus.
Is Retirement Systems Of Alabama's portfolio concentrated or diversified?
Retirement Systems Of Alabama runs a moderately concentrated portfolio with 20 disclosed positions. The top 3 holdings alone account for 40.8% of the total portfolio weight, suggesting a strategy that favors broader market exposure.
How has Retirement Systems Of Alabama performed in 2026?
Our AI-simulated model portfolio for Retirement Systems Of Alabama tracks a Year-to-Date (YTD) return of +16.5%. This metric helps investors gauge the institution's effectiveness in the current market environment.
Does David G. Bronner manage Retirement Systems Of Alabama directly?
Yes, David G. Bronner serves as the key portfolio manager for Retirement Systems Of Alabama, overseeing the investment strategy and final capital allocation decisions.