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Pennsylvania Public School Employees' Retirement System
Benjamin L. Cotton · Pension Fund · Multi-Strategy
The Pennsylvania Public School Employees' Retirement System (PSERS) is a state-level public pension fund established in 1917 to provide retirement, disability, and death benefits to public school employees in the Commonwealth of Pennsylvania. Headquartered in Harrisburg, it serves more than 500,000 members and manages a multi-billion dollar portfolio diversified across global public and private markets. PSERS operates primarily as a 401(a) governmental defined benefit plan, though its role expanded in 2017 to include defined contribution and hybrid options. The system is governed by a Board of Trustees and focuses on long-term capital preservation and growth to ensure the financial security of Pennsylvania’s educational workforce and their beneficiaries.
Simulated Performance
| Metric | Value |
|---|---|
| Total return | +14.3% |
| YTD return | +10.0% |
| Sharpe ratio | 3.18 |
| Win rate | 62% |
| AUM | $7.3B |
| Inception | Oct 1, 2025 |
| Updated | Sep 18, 2026 |
Institution Status
| Field | Value |
|---|---|
| AUM | $7.3B |
| Turnover | Low (<15%) |
| Avg holding | 18 Months |
| Inception | Oct 1, 2025 |
| Website | https://www.psers.pa.gov |
Current Holdings
Updated on Sep 18, 2026.
| Ticker | Name | Portfolio % | Return |
|---|---|---|---|
| NVDA | NVIDIA Corporation | 14.3% | +17.9% |
| AAPL | Apple Inc | 13.3% | +30.5% |
| GOOGL | Alphabet Inc Class A | 11.2% | +40.8% |
| MSFT | Microsoft Corporation | 10.3% | -2.3% |
| AMZN | Amazon.com Inc | 8.0% | +14.4% |
| AVGO | Broadcom Inc | 5.5% | +4.8% |
| NEE | Nextera Energy Inc | 3.8% | +2.2% |
| META | Meta Platforms Inc. | 3.6% | -4.7% |
| UNP | Union Pacific Corporation | 3.4% | +18.2% |
| JPM | JPMorgan Chase & Co | 2.9% | +12.4% |
| BRK-A | Berkshire Hathaway Inc | 2.8% | +2.3% |
| MU | Micron Technology Inc | 2.8% | +4.7% |
| LLY | Eli Lilly and Company | 2.7% | +35.1% |
| TSLA | Tesla Inc | 2.6% | -19.2% |
| AMD | Advanced Micro Devices Inc | 2.4% | +8.4% |
| SO | Southern Company | 2.3% | -8.5% |
| DUK | Duke Energy Corporation | 2.1% | -3.4% |
| AMT | American Tower Corp | 2.0% | -8.1% |
| XOM | Exxon Mobil Corp | 1.9% | +4.2% |
| JNJ | Johnson & Johnson | 1.9% | +5.3% |
Recent activity
| Date | Action | Ticker | Weight |
|---|---|---|---|
| Aug 3, 2026 | SELL | MU | 3.2% → 2.8% |
| Aug 3, 2026 | BUY | LLY | 2.9% → 2.7% |
| Aug 3, 2026 | BUY | AAPL | 14.8% → 13.3% |
| Aug 3, 2026 | SELL | MSFT | 8.6% → 10.3% |
| Aug 3, 2026 | BUY | AMT | 1.9% → 2.0% |
Investment Style Analysis
Pennsylvania Public School Employees' Retirement System is widely recognized for employing a Multi-Strategy strategy. As of Sep 18, 2026, the firm oversees approximately $7.3B 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 3, Pennsylvania Public School Employees' Retirement System made a significant move by reducing the position in MU. This adjustment aligns with the fund's dynamic approach to risk management and capital deployment in current market conditions.
Investment Philosophy
PSERS' investment philosophy is centered on a strategic asset allocation plan tailored to the system's specific long-term liability stream and cash flow requirements. The institution focuses on the prudent accumulation of wealth over extended horizons to meet benefit obligations, prioritizing diversification across various asset classes, geographies, and strategies to mitigate the impact of market volatility. The Board of Trustees believes that asset allocation is the primary driver of the portfolio's overall risk and return profile, and consequently, the system utilizes a combination of internal investment professionals and specialized external managers to execute its global investment program.
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 Pennsylvania Public School Employees' Retirement System.
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Frequently asked questions
How is the simulated portfolio for Pennsylvania Public School Employees' Retirement System 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 Pennsylvania Public School Employees' Retirement System's largest holding?
As of the latest filing, Pennsylvania Public School Employees' Retirement System's top position is NVIDIA Corporation (NVDA), representing 14.3% of the portfolio. This reflects a high-conviction bet by the institution.
What is Pennsylvania Public School Employees' Retirement System's historical performance and risk profile?
Our simulation indicates a total return of +14.3% with a win rate of 62%. Notably, the portfolio maintains a Sharpe Ratio of 3.18, suggesting an exceptional level of risk-adjusted returns compared to the broader market.
What sectors does Pennsylvania Public School Employees' Retirement System primarily invest in?
Pennsylvania Public School Employees' Retirement System has a strong preference for the Semiconductors sector, which makes up 25.0% of their disclosed assets. The portfolio also has exposure to Internet Content & Information, indicating a specific thematic focus.
Is Pennsylvania Public School Employees' Retirement System's portfolio concentrated or diversified?
Pennsylvania Public School Employees' Retirement System runs a moderately concentrated portfolio with 20 disclosed positions. The top 3 holdings alone account for 38.9% of the total portfolio weight, suggesting a strategy that favors broader market exposure.
How has Pennsylvania Public School Employees' Retirement System performed in 2026?
Our AI-simulated model portfolio for Pennsylvania Public School Employees' Retirement System tracks a Year-to-Date (YTD) return of +10.0%. This metric helps investors gauge the institution's effectiveness in the current market environment.
Does Benjamin L. Cotton manage Pennsylvania Public School Employees' Retirement System directly?
Yes, Benjamin L. Cotton serves as the key portfolio manager for Pennsylvania Public School Employees' Retirement System, overseeing the investment strategy and final capital allocation decisions.