Institution

NISA Investment Advisors, LLC

13F for the quarter to June 30, 2026, filed August 10, 2026 · SEC CIK 937615

Reported value: $32.0bn
Positions we cover: 2,868
Copy, a year: +13.9%
Copy Sharpe ratio: 0.77

How copying its 13F would have done

CopyS&P 500 $10,000 copying NISA Investment Advisors, LLC's filed holdings in companies we cover from July 19, 2013, buying on the first trading day after each 13F was filed and holding until the next, against the S&P 500 (total return). Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −32.4% (S&P 500 −31.8%); beta 1.00; alpha +0.0% a year (t = 0.11); last 12 months +12.2% against +12.1%.

Reported value by quarter

NISA Investment Advisors, LLC: 13F reported value Total value of all positions in each quarter's 13F, as filed (values before 2023 were filed in thousands of dollars and are converted).

View chart data

Period	Reported value
2013-06-30	$6.5B
2013-09-30	$6.5B
2013-12-31	$7B
2014-03-31	$7B
2014-06-30	$7.2B
2014-09-30	$7.1B
2014-12-31	$7.3B
2015-03-31	$7.3B
2015-06-30	$7.1B
2015-09-30	$6.5B
2015-12-31	$7B
2016-03-31	$7B
2016-06-30	$7.4B
2016-09-30	$7.7B
2016-12-31	$8.2B
2017-03-31	$8.4B
2017-06-30	$8.5B
2017-09-30	$8.9B
2017-12-31	$9.7B
2018-03-31	$9.6B
2018-06-30	$9.7B
2018-09-30	$11B
2018-12-31	$9B
2019-03-31	$10.3B
2019-06-30	$10.5B
2019-09-30	$11.3B
2019-12-31	$11.7B
2020-03-31	$9B
2020-06-30	$10.9B
2020-09-30	$12.4B
2020-12-31	$15.5B
2021-03-31	$15.8B
2021-06-30	$16B
2021-09-30	$16.5B
2021-12-31	$13.3B
2022-03-31	$14.2B
2022-06-30	$11.4B
2022-09-30	$11.8B
2022-12-31	$12.7B
2023-06-30	$13.6B
2023-09-30	$13.1B
2023-12-31	$14.1B
2024-03-31	$15.4B
2024-06-30	$15.9B
2024-09-30	$16.9B
2024-12-31	$25.8B
2025-03-31	$20B
2025-06-30	$22.2B
2025-09-30	$25.9B
2025-12-31	$30.3B
2026-03-31	$27B
2026-06-30	$32B

Holdings and moves

Company	Share of portfolio	Value	Shares	Change in shares
NVDANVIDIA Corporation	3.74%	$1.2bn	6.00M	−3.3% Reduced
AAPLApple Inc.	3.48%	$1.1bn	3.85M	−3.2% Reduced
MSFTMicrosoft Corporation	2.31%	$740.8m	1.99M	−2.7% Reduced
GOOGLAlphabet Inc. (Class A)	1.77%	$568.0m	1.59M	−4.1% Reduced
AVGOBroadcom	1.47%	$469.8m	1.24M	−3.5% Reduced
AMZNAmazon	1.44%	$461.8m	1.94M	+1.1% Added
METAMeta Platforms	0.98%	$314.4m	558.2K	−3.3% Reduced
JPMJPMorgan Chase	0.89%	$284.5m	869.0K	−2.4% Reduced
MUMicron Technology	0.86%	$275.9m	239.0K	−9.3% Reduced
LLYLilly (Eli)	0.78%	$250.7m	209.0K	−0.9% Reduced
AMDAdvanced Micro Devices	0.78%	$248.6m	428.0K	−2.6% Reduced
TSLATesla, Inc.	0.68%	$216.3m	514.4K	−6.0% Reduced
CATCaterpillar Inc.	0.54%	$173.4m	162.8K	−2.9% Reduced
LRCXLam Research	0.51%	$164.5m	379.4K	−10.0% Reduced
AMATApplied Materials	0.51%	$162.7m	225.0K	−10.8% Reduced
VVisa Inc.	0.49%	$157.7m	459.6K	−2.8% Reduced
JNJJohnson & Johnson	0.47%	$152.3m	599.6K	−5.5% Reduced
CSCOCisco	0.46%	$148.8m	1.27M	+0.7% Added
INTCIntel	0.46%	$147.1m	1.05M	−0.6% Reduced
MAMastercard	0.40%	$129.5m	252.2K	−1.1% Reduced
WMTWalmart	0.40%	$128.3m	1.13M	−4.8% Reduced
ABBVAbbVie	0.38%	$122.2m	485.5K	+1.2% Added
BACBank of America	0.36%	$115.1m	2.02M	−3.4% Reduced
COSTCostco	0.33%	$106.4m	113.7K	+0.6% Added
UNHUnitedHealth Group	0.33%	$104.7m	252.0K	+0.8% Added
MSMorgan Stanley	0.33%	$104.2m	498.6K	+8.3% Added
HDThe Home Depot	0.32%	$102.7m	291.3K	−0.2%
TXNTexas Instruments	0.32%	$101.0m	338.7K	−2.6% Reduced
KLACKLA Corporation	0.31%	$100.5m	333.1K	+839.9% Added
NFLXNetflix	0.29%	$94.3m	1.32M	+0.7% Added
CVXChevron Corporation	0.27%	$85.1m	513.5K	−3.3% Reduced
GSGoldman Sachs	0.26%	$84.2m	83.2K	−5.5% Reduced
MRKMerck & Co.	0.26%	$84.0m	649.4K	−6.4% Reduced
ORCLOracle Corporation	0.26%	$82.6m	563.8K	−1.5% Reduced
PGProcter & Gamble	0.25%	$81.4m	554.8K	−4.2% Reduced
GEGE Aerospace	0.25%	$79.4m	212.4K	−1.4% Reduced
APHAmphenol	0.24%	$78.5m	444.4K	−9.9% Reduced
PMPhilip Morris International	0.24%	$76.1m	417.4K	−1.4% Reduced
ADIAnalog Devices	0.24%	$76.0m	191.4K	−2.2% Reduced
KOThe Coca-Cola Company	0.24%	$75.6m	924.0K	−4.8% Reduced
AXPAmerican Express	0.23%	$74.4m	219.9K	−3.2% Reduced
SNDKSandisk	0.23%	$73.7m	32.4K	−10.3% Reduced
RTXRTX Corporation	0.21%	$67.1m	353.5K	−2.2% Reduced
DEDeere & Company	0.20%	$64.6m	101.5K	−1.2% Reduced
TJXTJX Companies	0.20%	$63.8m	421.2K	−2.2% Reduced
WDCWestern Digital	0.19%	$59.9m	93.7K	−7.6% Reduced
WFCWells Fargo	0.19%	$59.8m	723.8K	−4.2% Reduced
STXSeagate Technology	0.18%	$58.7m	60.8K	+1.4% Added
CCitigroup	0.18%	$58.7m	419.6K	−4.7% Reduced
TMOThermo Fisher Scientific	0.18%	$57.9m	115.3K	−4.6% Reduced
AMGNAmgen	0.18%	$57.6m	159.0K	−4.3% Reduced
UNPUnion Pacific Corporation	0.18%	$56.5m	207.8K	−3.9% Reduced
ETNEaton Corporation	0.17%	$56.0m	131.5K	−3.9% Reduced
MCDMcDonald's	0.17%	$55.0m	203.4K	−3.4% Reduced
LINLinde plc	0.17%	$54.9m	105.8K	−4.1% Reduced
IBMIBM	0.17%	$54.0m	191.9K	−0.6% Reduced
DISThe Walt Disney Company	0.17%	$53.7m	553.7K	−1.6% Reduced
BKNGBooking Holdings	0.16%	$52.7m	295.5K	+2341.3% Added
QCOMQualcomm	0.16%	$52.2m	282.4K	+6.9% Added
COFCapital One	0.15%	$49.7m	248.0K	−2.5% Reduced
GLWCorning Inc.	0.15%	$49.1m	192.4K	−15.0% Reduced
PEPPepsiCo	0.15%	$48.9m	361.0K	−2.6% Reduced
PLTRPalantir Technologies Inc.	0.15%	$47.8m	409.4K	−5.0% Reduced
MOAltria	0.14%	$44.2m	605.1K	+1.1% Added
ABTAbbott Laboratories	0.14%	$43.6m	480.0K	−1.0% Reduced
GEVGE Vernova	0.13%	$42.9m	36.5K	−12.5% Reduced
LOWLowe's	0.13%	$42.7m	193.7K	−2.8% Reduced
MPCMarathon Petroleum	0.13%	$42.7m	166.8K	−6.1% Reduced
GILDGilead Sciences	0.13%	$42.6m	336.9K	−5.5% Reduced
CSXCSX Corporation	0.13%	$42.3m	889.9K	+1.3% Added
PANWPalo Alto Networks	0.13%	$42.0m	123.1K	+14.9% Added
VLOValero Energy	0.13%	$41.6m	159.6K	−4.0% Reduced
BLKBlackRock	0.13%	$41.4m	43.1K	−1.9% Reduced
PHParker Hannifin	0.13%	$40.9m	41.8K	−5.2% Reduced
MARMarriott International	0.13%	$40.2m	108.5K	−1.8% Reduced
BABoeing	0.12%	$39.8m	183.9K	−3.1% Reduced
CMICummins	0.12%	$39.4m	55.3K	−5.7% Reduced
PNCPNC Financial Services	0.12%	$39.2m	159.1K	−4.8% Reduced
ISRGIntuitive Surgical	0.12%	$38.8m	97.7K	+0.1%
WELLWelltower	0.12%	$37.4m	164.9K	−18.3% Reduced
SBUXStarbucks	0.11%	$36.4m	356.5K	−2.7% Reduced
TTTrane Technologies	0.11%	$36.3m	73.8K	−2.3% Reduced
COPConocoPhillips	0.11%	$36.0m	346.7K	−8.5% Reduced
CVSCVS Health	0.11%	$35.5m	343.6K	+1.9% Added
SCHWCharles Schwab Corporation	0.11%	$35.0m	379.4K	−5.6% Reduced
ADPAutomatic Data Processing	0.11%	$35.0m	155.0K	+2.4% Added
VZVerizon	0.11%	$34.9m	825.0K	−5.4% Reduced
ANETArista Networks	0.11%	$34.9m	205.5K	+0.3%
PLDPrologis	0.11%	$34.8m	256.6K	−16.6% Reduced
TAT&T	0.11%	$33.9m	1.64M	−3.1% Reduced
DHRDanaher Corporation	0.11%	$33.8m	177.2K	−0.9% Reduced
MCKMcKesson	0.10%	$32.4m	42.8K	−5.8% Reduced
BMYBristol Myers Squibb	0.10%	$31.3m	542.5K	−1.8% Reduced
CMCSAComcast	0.10%	$31.2m	1.27M	−11.5% Reduced
PGRProgressive Corporation	0.10%	$30.8m	141.1K	−10.5% Reduced
GDGeneral Dynamics	0.10%	$30.8m	86.8K	−4.4% Reduced
WECWEC Energy Group	0.10%	$30.6m	262.2K	−2.9% Reduced
CRWDCrowdStrike	0.10%	$30.6m	40.1K	−2.0% Reduced
SYKStryker Corporation	0.10%	$30.3m	95.9K	−2.6% Reduced
SHWSherwin-Williams	0.09%	$29.9m	86.7K	−4.0% Reduced
PSXPhillips 66	0.09%	$29.6m	175.4K	−1.5% Reduced
NSCNorfolk Southern	0.09%	$29.6m	94.0K	−1.6% Reduced
ELVElevance Health	0.09%	$29.0m	75.1K	+0.8% Added
NOCNorthrop Grumman	0.09%	$28.6m	56.2K	0.0%
SPGSimon Property Group	0.09%	$28.6m	127.7K	−12.8% Reduced
WSMWilliams-Sonoma, Inc.	0.09%	$28.5m	122.2K	+0.1%
MSIMotorola Solutions	0.09%	$28.2m	67.7K	−2.7% Reduced
PFEPfizer	0.09%	$28.2m	1.17M	−15.8% Reduced
VRTXVertex Pharmaceuticals	0.09%	$28.0m	56.5K	−3.0% Reduced
CICigna	0.09%	$28.0m	101.5K	−0.8% Reduced
WMBWilliams Companies	0.09%	$28.0m	376.3K	−9.4% Reduced
EMREmerson Electric	0.09%	$27.9m	194.7K	−5.3% Reduced
MRVLMarvell Technology	0.09%	$27.5m	92.5K	+17.5% Added
FITBFifth Third Bancorp	0.09%	$27.5m	484.7K	−4.5% Reduced
ITWIllinois Tool Works	0.09%	$27.5m	100.9K	+0.2%
NEENextEra Energy	0.09%	$27.4m	311.8K	−2.0% Reduced
LMTLockheed Martin	0.09%	$27.3m	53.7K	−4.6% Reduced
EBAYeBay Inc.	0.09%	$27.1m	242.8K	−9.1% Reduced
ADBEAdobe Inc.	0.08%	$26.4m	129.0K	−6.5% Reduced
MCOMoody's Corporation	0.08%	$26.4m	58.4K	−2.0% Reduced
SPGIS&P Global	0.08%	$26.2m	64.3K	−3.2% Reduced
INTUIntuit	0.08%	$26.2m	100.3K	+2.4% Added
MRSHMarsh McLennan	0.08%	$26.0m	155.8K	−5.5% Reduced
TRVThe Travelers Companies	0.08%	$25.3m	76.7K	−0.9% Reduced
HONHoneywell Technologies	0.08%	$25.1m	112.2K	New
HONAHoneywell Aerospace	0.08%	$25.1m	113.4K	New
AFLAflac	0.08%	$25.0m	213.5K	−1.0% Reduced
ALLAllstate	0.08%	$25.0m	104.5K	−5.5% Reduced
FDXFedEx	0.08%	$24.3m	77.5K	−2.3% Reduced
MDLZMondelez International	0.08%	$24.2m	415.2K	−2.4% Reduced
ORLYO'Reilly Automotive	0.07%	$24.0m	260.7K	−1.0% Reduced
CRMSalesforce	0.07%	$23.8m	151.6K	−9.5% Reduced
MMM3M	0.07%	$23.7m	146.3K	−8.4% Reduced
FIXComfort Systems USA	0.07%	$23.6m	11.9K	−3.0% Reduced
TMUST-Mobile US	0.07%	$23.3m	138.9K	−3.0% Reduced
CAHCardinal Health	0.07%	$23.0m	96.8K	+1.4% Added
PCARPaccar	0.07%	$22.9m	190.5K	−12.4% Reduced
CTASCintas	0.07%	$22.8m	134.3K	−4.5% Reduced
CORCencora	0.07%	$22.8m	80.6K	−15.3% Reduced
CMECME Group	0.07%	$22.7m	102.9K	−18.4% Reduced
UBERUber	0.07%	$22.7m	314.1K	−14.4% Reduced
PWRQuanta Services	0.07%	$22.6m	31.3K	−6.4% Reduced
MNSTMonster Beverage	0.07%	$22.5m	234.2K	+0.6% Added
TGTTarget Corporation	0.07%	$22.1m	169.0K	−3.0% Reduced
MPWRMonolithic Power Systems, Inc.	0.07%	$21.9m	15.8K	−0.8% Reduced
EOGEOG Resources	0.07%	$21.7m	167.0K	+2.0% Added
ICEIntercontinental Exchange	0.07%	$21.5m	174.5K	−5.1% Reduced
URIUnited Rentals	0.07%	$21.1m	18.7K	−4.7% Reduced
ROSTRoss Stores	0.07%	$20.9m	98.3K	−3.5% Reduced
AMPAmeriprise Financial	0.07%	$20.9m	45.5K	−2.0% Reduced

Company	Bought (value)	Shares
KLACKLA Corporation	$89.8m	297.6K
BKNGBooking Holdings	$50.5m	283.4K
HONHoneywell Technologies	$25.1m	112.2K
HONAHoneywell Aerospace	$25.1m	113.4K
DVNDevon Energy	$8.2m	197.6K
MSMorgan Stanley	$8.0m	38.2K
DDDuPont	$6.5m	48.3K
PANWPalo Alto Networks	$5.4m	16.0K
MTZMastec Inc	$5.4m	12.9K
ARMKAramark	$5.1m	89.6K
FDXFFedEx Freight	$4.9m	32.3K
AMZNAmazon	$4.8m	20.2K
CVNACarvana	$4.6m	70.1K
FLEXFlex Ltd.	$4.6m	28.4K
HSTHost Hotels & Resorts	$4.2m	169.4K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

Company	Sold (value)	Shares
NVDANVIDIA Corporation	−$40.6m	−203.1K
AAPLApple Inc.	−$37.4m	−129.2K
MUMicron Technology	−$28.4m	−24.6K
GOOGLAlphabet Inc. (Class A)	−$24.1m	−67.3K
MSFTMicrosoft Corporation	−$20.6m	−55.3K
AMATApplied Materials	−$19.6m	−27.1K
LRCXLam Research	−$18.3m	−42.1K
AVGOBroadcom	−$17.0m	−44.9K
TSLATesla, Inc.	−$13.9m	−33.1K
ORealty Income	−$13.3m	−214.2K
METAMeta Platforms	−$10.7m	−18.9K
HWMHowmet Aerospace	−$10.5m	−38.9K
JNJJohnson & Johnson	−$8.9m	−35.2K
GLWCorning Inc.	−$8.7m	−34.0K
APHAmphenol	−$8.7m	−49.1K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

Company	Value last quarter	Shares
FRMIFermi Inc.	$184,229	31.5K
NLOPNet Lease Office Properties	$181,643	12.2K
JANJanus Living, Inc.	$178,661	7.6K
KRUSKura Sushi USA, Inc.	$139,580	2.0K
KRMNKarman Holdings Inc.	$72,285	903
TASKTaskus, Inc.	$46,970	7.0K
SNAPSnap Inc	$42,835	9.3K
BETRBetter Home & Finance Holding Co	$42,744	1.2K
PSIXPower Solutions International, Inc.	$36,528	600
SITCSite Centers Corp.	$26,784	5.0K
CLDTChatham Lodging Trust	$26,190	3.3K
TARAProtara Therapeutics, Inc.	$25,008	4.8K
LCIDLucid Group, Inc.	$23,825	2.5K
MITTTPG Mortgage Investment Trust, Inc.	$20,099	2.7K
AIROAiro Group Holdings, Inc.	$19,013	2.5K
FEIMFrequency Electronics Inc	$17,704	400
LTBRLightbridge Corp	$15,990	1.5K
SEVNSeven Hills Realty Trust	$15,585	1.9K
CMTGClaros Mortgage Trust, Inc.	$14,287	6.0K
ACREAres Commercial Real Estate Corp	$12,028	2.4K
STRWStrawberry Fields Reit, Inc.	$11,900	1.0K
ACRAcres Commercial Realty Corp.	$11,592	600
PINEAlpine Income Property Trust, Inc.	$11,106	617
SUNSSunrise Realty Trust, Inc.	$8,966	1.1K
SNWVSanuwave Health, Inc.	$8,645	500
RPTRithm Property Trust Inc.	$8,302	620
CHMICherry Hill Mortgage Investment Corp	$7,862	3.0K
LFTLument Finance Trust, Inc.	$5,850	4.5K
GPMTGranite Point Mortgage Trust Inc.	$5,764	4.0K
BILIBilibili Inc.	$4,512	200

Technology37.4%
Financials12.4%
Industrials10.8%
Health Care9.7%
Consumer Discretionary9.2%
Communication Services7.4%
Consumer Staples4.7%
Energy2.6%
Materials2.0%
Real Estate1.9%
Utilities1.8%

Share of the value held in companies we cover, by sector.

Period	Copy, a year	S&P 500	Sharpe	S&P 500	Biggest drop	Beta
Whole backtestJuly 19, 2013 to November 2, 2026	+13.9%	+13.8%	0.77	0.77	−32.4%	1.00
2018 onwardsJanuary 5, 2018 to November 2, 2026	+13.5%	+13.9%	0.64	0.66	−32.4%	1.00
Last three yearsNovember 3, 2023 to November 2, 2026	+20.7%	+21.8%	1.12	1.16	−16.3%	0.96
Last yearNovember 7, 2025 to November 2, 2026	+14.2%	+14.2%	0.89	0.84	−8.2%	0.91

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.