NISA INVESTMENT ADVISORS L L C

Long Only Manager

NISA INVESTMENT ADVISORS L L C is a Long Only Manager based in St. Louis, MO led by David Gordon Eichhorn, reporting $315.29B in AUM as of Q3 2025 with 33% ETF concentration, 53% concentrated in top 10 holdings, and 31% allocation to IVV.

CEODavid Gordon Eichhorn

Portfolio Value: $25.9B
Positions: 2,979
Top Holding: IVV at 30.87%
Last Reported: Q3 2025

Address7676 Forsyth Blvd Suite 1100, St. Louis, MO, 63105-4141, United States

Top Holdings

Largest long holdings in NISA INVESTMENT ADVISORS L L C's portfolio (53.5% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 iShares Core S&P 500 ETF IVV	ETF ETF	$8.0B	30.87%	+$2.9B Bought	— 12.0M shares	Q4 2024 Held for 11 months
2 Nvidia NVDA	Semiconductors Technology	$1.2B	4.56%	-$126.0M Sold	0.03% 6.3M shares	≤ Q2 2013 Held for 12y 5m+
3 Microsoft MSFT	Software - Infrastructure Technology	$1.1B	4.38%	+$33.3M Bought	0.03% 2.2M shares	≤ Q2 2013 Held for 12y 5m+
4 Apple AAPL	Consumer Electronics Technology	$1.0B	4.01%	-$84.0M Sold	0.03% 4.1M shares	≤ Q2 2013 Held for 12y 5m+
5 Meta Platforms, Inc. META	Internet Content & Information Communication Services	$496.2M	1.91%	+$34.2M Bought	0.03% 675.7K shares	≤ Q2 2013 Held for 12y 5m+
6 Broadcom Inc. AVGO	Semiconductors Technology	$477.5M	1.84%	+$14.1M Bought	0.03% 1.4M shares	Q2 2014 Held for 11y 5m
7 Amazon AMZN	Specialty Retail Consumer Cyclical	$432.1M	1.67%	-$7.0M Sold	0.02% 2.0M shares	≤ Q2 2013 Held for 12y 5m+
8 Alphabet Inc. GOOGL	Internet Content & Information Communication Services	$410.4M	1.58%	-$17.1M Sold	0.01% 1.7M shares	≤ Q2 2013 Held for 12y 5m+
9 Alphabet Inc. GOOG	Internet Content & Information Communication Services	$383.0M	1.48%	+$25.3M Bought	0.01% 1.6M shares	Q2 2014 Held for 11y 5m
10 JPMorgan Chase JPM	Banks - Diversified Financial Services	$301.9M	1.16%	+$6.8M Bought	0.03% 957.2K shares	≤ Q2 2013 Held for 12y 5m+

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in NISA INVESTMENT ADVISORS L L C's latest filing

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Market Value

$25.9B

Prior: $22.2B

Q/Q Change

+16.85%

+$3.7B

Net Flows % of MV

+8.1%

Turnover Ratio

10.17%

New Purchases

40 stocks

$16.2M

Added To

1,174 stocks

+$3.7B

Sold Out Of

142 stocks

$453.7M

Reduced Holdings

909 stocks

-$1.1B

Increased Positions

Position	Shares Δ	Change
1 AngloGold Ashanti AU	New	0 → 70.2K +$4.9M
2 Millicom International Cellular TIGO	New	0 → 82.6K +$4.0M
3 Astera Labs, Inc. ALAB	New	0 → 6.0K +$1.2M
4 Mercurity Fintech Holding MFH	New	0 → 45.0K +$1.1M
5 Ralliant Corporation RAL	New	0 → 20.8K +$911.5K

Decreased Positions

Position	Shares Δ	Change
1 iShares Core U.S. Aggregate Bond AGG	Sold	4.0M → 0 −$395.6M
2 Ansys ANSS	Sold	41.5K → 0 −$14.6M
3 Vanguard Tax-Exempt Bond Index Fund VTEB	Sold	246.2K → 0 −$12.1M
4 Hess HES	Sold	57.5K → 0 −$8.0M
5 Triumph Group TGI	Sold	256.2K → 0 −$6.6M

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Analytics

Portfolio insights and performance metrics for NISA INVESTMENT ADVISORS L L C

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Sector Allocation

ETF

32.50%

Technology

22.20%

Financial Services

9.50%

Communication Services

6.90%

Consumer Cyclical

6.40%

Industrials

6.10%

Healthcare

6.00%

Consumer Defensive

3.50%

Energy

2.00%

Real Estate

2.00%

Utilities

1.40%

Basic Materials

1.20%

Market Cap Distribution

Mega Cap (> $200B)

37.77%

Large Cap ($10B - $200B)

26.52%

Mid Cap ($2B - $10B)

2.55%

Small Cap ($300M - $2B)

0.39%

Micro Cap ($50M - $300M)

0.01%

Nano Cap (< $50M)

0.23%

N/A (ETF or Unknown)

32.52%

Portfolio Concentration

Top 10 Holdings %

53.48%

Top 20 Holdings %

59.92%

Top 50 Holdings %

69.85%

Top 100 Holdings %

78.84%