Teacher Retirement System of Texas
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 30, 2025), Teacher Retirement System of Texas reported 2,023 stock positions worth $24.9 billion. Its top holding was Vanguard S&P 500 ETF (VOO) at 6.2% of the portfolio, followed by Nvidia (NVDA, 5.2%) and Apple (AAPL, 4.3%). Compared with Q2 2025, it opened 73 new positions, sold out of 104, added to 591 and reduced 1,350. The biggest buy was Vanguard S&P 500 ETF (VOO, shares +267%) and the biggest sale iShares MSCI Emr MRK Ex Chna (EMXC, shares −47%).
- Most Recent 13F
- Q2 2026
- Location
- AUSTIN, TX
- CIK
- 0000796848
- Portfolio Value
- $24.9B (Q3 2025)
- SEC Filing
- 0000796848-25-000010 ↗ filed Oct 30, 2025
Holdings Value
Holdings 2,023 stocks · $24.9B
| VOO Vanguard S&P 500 ETF | 6.15% | 2,499,229 | $1.5B | Add +266.9% |
| NVDA Nvidia Corp. | 5.16% | 6,873,722 | $1.3B | Reduce -8.1% |
| AAPL Apple Inc. | 4.32% | 4,216,552 | $1.1B | Reduce -8.9% |
| MSFT Microsoft Corp. | 4.13% | 1,983,056 | $1.0B | Reduce -6.8% |
| AMZN Amazon.com Inc. | 2.30% | 2,600,060 | $570.9M | Reduce -7.5% |
| META Meta Platforms Inc. Class A | 1.85% | 624,951 | $459.0M | Reduce -5.2% |
| AVGO Broadcom Inc. | 1.72% | 1,296,083 | $427.6M | Reduce -0.2% |
| GOOGL Alphabet Inc. Class A | 1.64% | 1,682,252 | $409.0M | Reduce -30.7% |
| GOOG Alphabet Inc. Class C | 1.35% | 1,382,269 | $336.7M | Add +48.1% |
| IVV iShares Core S&P 500 ETF | 1.33% | 495,372 | $331.6M | Reduce -3.2% |
| TSLA Tesla Inc. | 1.31% | 731,557 | $325.3M | Reduce -5.0% |
| JPM JPMorgan Chase & Co. | 1.03% | 810,772 | $255.7M | Reduce -3.1% |
| LLY Eli Lilly & Co. | 0.89% | 290,865 | $221.9M | Reduce -4.4% |
| EMXC iShares MSCI Emr MRK Ex Chna | 0.88% | 3,239,687 | $218.7M | Reduce -46.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.79% | 392,894 | $197.5M | Reduce -5.8% |
| MA Mastercard Inc. Class A | 0.68% | 295,974 | $168.4M | Reduce -2.7% |
| JNJ Johnson & Johnson | 0.67% | 900,875 | $167.0M | Add +2.7% |
| NFLX Netflix Inc. | 0.65% | 134,932 | $161.8M | Reduce -1.8% |
| XOM Exxon Mobil Corp. | 0.60% | 1,334,273 | $150.4M | Reduce -5.5% |
| PLTR Palantir Technologies Inc. Class A | 0.56% | 766,046 | $139.7M | Reduce -4.9% |
| V Visa Inc. Class A | 0.56% | 408,862 | $139.6M | Reduce -12.0% |
| ABBV Abbvie Inc. | 0.54% | 574,951 | $133.1M | Reduce -0.6% |
| WMT Walmart Inc. | 0.52% | 1,254,818 | $129.3M | Reduce -10.0% |
| PG The Procter & Gamble Co. | 0.50% | 813,723 | $125.0M | Add +8.2% |
| HD Home Depot Inc. | 0.48% | 296,103 | $120.0M | Reduce -18.7% |
| GE General Electric filed as GE AEROSPACE | 0.48% | 397,872 | $119.7M | Add +12.1% |
| ORCL Oracle Corp. | 0.48% | 420,448 | $118.2M | Add +11.8% |
| ADSK Autodesk Inc. | 0.46% | 357,813 | $113.7M | Add +102.1% |
| AZO AutoZone Inc. | 0.42% | 24,642 | $105.7M | Add +1.3% |
| COST Costco Wholesale Corp. | 0.42% | 112,804 | $104.4M | Reduce -12.0% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.41% | 1,981,804 | $102.2M | Add +1.4% |
| KO The Coca-Cola Co. | 0.40% | 1,504,597 | $99.8M | Add +17.7% |
| GLD SPDR Gold Shares | 0.40% | 279,350 | $99.3M | Add +43.0% |
| CSCO Cisco Systems Inc. | 0.37% | 1,347,375 | $92.2M | Reduce -16.6% |
| PM Philip Morris International | 0.37% | 565,621 | $91.7M | Reduce -8.7% |
| WFC Wells Fargo & Co. | 0.36% | 1,060,464 | $88.9M | Reduce -17.9% |
| PEGA Pegasystems Inc. | 0.35% | 1,520,005 | $87.4M | Add +0.2% |
| INTU Intuit Inc. | 0.34% | 124,630 | $85.1M | Add +23.6% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.33% | 569,298 | $82.3M | Reduce -4.8% |
| BKNG Booking Holdings Inc. | 0.33% | 15,153 | $81.8M | Reduce -5.2% |
| APH Amphenol Corp. Class A | 0.32% | 651,977 | $80.7M | Add +4.5% |
| UNH Unitedhealth Group Inc. | 0.32% | 228,681 | $79.0M | Reduce -37.2% |
| MELI MercadoLibre Inc. | 0.31% | 33,513 | $78.3M | Reduce -26.7% |
| INTC Intel Corp. | 0.31% | 2,315,580 | $77.7M | Add +203.0% |
| BSX Boston Scientific Corp. | 0.31% | 795,537 | $77.7M | Reduce -14.6% |
| APG Api Group Corp. | 0.31% | 2,240,836 | $77.0M | Add +0.3% |
| LRCX Lam Research Corp. | 0.31% | 570,446 | $76.4M | Add +40.7% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.31% | 299,349 | $76.1M | No change |
| GEV GE Vernova Inc. | 0.30% | 123,082 | $75.7M | Reduce -13.2% |
| LIN Linde PLC | 0.30% | 157,546 | $74.8M | Reduce -35.4% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.30% | 264,978 | $74.8M | Reduce -8.8% |
| UNP Union Pacific Corp. | 0.30% | 314,423 | $74.3M | Add +18.2% |
| CAT Caterpillar Inc. | 0.30% | 155,499 | $74.2M | Reduce -3.6% |
| IJR iShares Core S&P Small-Cap E | 0.29% | 617,457 | $73.4M | No change |
| MRK Merck & Co. Inc. | 0.29% | 863,314 | $72.5M | Reduce -18.8% |
| CVX Chevron Corp. | 0.29% | 463,834 | $72.0M | Reduce -1.0% |
| CASY Casey's General Stores Inc. | 0.29% | 126,183 | $71.3M | Add +0.3% |
| PFE Pfizer Inc. | 0.28% | 2,764,113 | $70.4M | Add +32.3% |
| CRM Salesforce Inc. | 0.28% | 294,240 | $69.7M | Reduce -24.0% |
| QCOM Qualcomm Inc. | 0.28% | 417,645 | $69.5M | Reduce -14.7% |
| ISRG Intuitive Surgical Inc. | 0.28% | 155,146 | $69.4M | Reduce -3.6% |
| CERT Certara Inc. | 0.28% | 5,663,499 | $69.2M | Reduce -0.2% |
| ADP Automatic Data Processing | 0.28% | 234,746 | $68.9M | Add +9.5% |
| VZ Verizon Communications Inc. | 0.28% | 1,557,986 | $68.5M | Reduce -1.4% |
| MCD McDonald's Corp. | 0.27% | 224,603 | $68.3M | Add +7.5% |
| PGR Progressive Corp. | 0.27% | 275,072 | $67.9M | Add +20.9% |
| PEP Pepsico Inc. | 0.27% | 480,642 | $67.5M | Reduce -18.3% |
| MO Altria Group Inc. | 0.27% | 1,020,888 | $67.4M | Reduce -5.2% |
| ADBE Adobe Inc. | 0.27% | 190,176 | $67.1M | Reduce -9.3% |
| SPOT Spotify Technology SA | 0.27% | 95,774 | $66.9M | Reduce -51.1% |
| CMCSA Comcast Corp. Class A | 0.27% | 2,105,834 | $66.2M | Add +5.5% |
| SYK Stryker Corp. | 0.26% | 173,901 | $64.3M | Reduce -4.0% |
| CI The Cigna Group | 0.26% | 222,977 | $64.3M | Add +10.9% |
| ABT Abbott Laboratories | 0.26% | 478,986 | $64.2M | Reduce -20.3% |
| APP AppLovin Corp. Class A | 0.26% | 88,578 | $63.6M | Reduce -44.6% |
| SCHW Schwab (charles) Corp. | 0.26% | 665,805 | $63.6M | Add +34.5% |
| GDX Vaneck Gold Miners ETF | 0.26% | 831,000 | $63.5M | Reduce -36.4% |
| T AT&T Inc. | 0.25% | 2,161,899 | $61.1M | Reduce -4.9% |
| GD General Dynamics Corp. | 0.24% | 175,660 | $59.9M | Add +35.1% |
| FLUT Flutter Entertainment PLC-Di | 0.24% | 235,599 | $59.8M | Reduce -21.1% |
| BAP Credicorp Ltd. | 0.24% | 222,075 | $59.1M | Add +0.7% |
| MCK McKesson Corp. | 0.24% | 76,370 | $59.0M | Add +14.9% |
| ORLY O'reilly Automotive Inc. | 0.24% | 545,299 | $58.8M | Add +48.2% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.23% | 509,938 | $58.4M | Reduce -1.0% |
| KLAC KLA Corp. | 0.23% | 53,454 | $57.7M | Reduce -16.3% |
| ANET Arista Networks Inc. | 0.23% | 395,148 | $57.6M | Reduce -41.1% |
| RTX RTX Corp. | 0.23% | 342,982 | $57.4M | Reduce -4.4% |
| BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC | 0.23% | 611,418 | $57.0M | Add +20.7% |
| C Citigroup Inc. | 0.23% | 558,462 | $56.7M | Add +31.7% |
| TMO Thermo Fisher Scientific Inc. | 0.22% | 114,762 | $55.7M | Reduce -6.4% |
| AMD Advanced Micro Devices | 0.22% | 341,649 | $55.3M | Add +20.0% |
| VLTO Veralto Corp. | 0.22% | 518,243 | $55.2M | Add +24.6% |
| AG First Majestic Silver Corp. | 0.22% | 4,481,000 | $55.1M | New |
| ACN Accenture PLC Class A | 0.22% | 221,026 | $54.5M | Reduce -6.3% |
| SE Sea Ltd.-ADR | 0.22% | 304,929 | $54.5M | Add +16.7% |
| BMY Bristol-Myers Squibb Co. | 0.22% | 1,208,368 | $54.5M | Add +16.2% |
| SARO Standardaero Inc. | 0.22% | 1,994,841 | $54.4M | Add +8.7% |
| WELL Welltower Inc. | 0.22% | 304,937 | $54.3M | Add +31.5% |
| GS Goldman Sachs Group Inc. | 0.21% | 66,180 | $52.7M | Reduce -18.1% |
| AU Anglogold Ashanti PLC | 0.21% | 742,930 | $52.3M | No change |
Portfolio Sells Q2 2025 → Q3 2025
| EMXC iShares MSCI Emr MRK Ex Chna | Reduce -46.9% | 0.88% | −0.74 |
| INDA iShares MSCI India ETF | Sold out | 0.00% | −0.44 |
| RBRK Rubrik Inc. Class A | Reduce -97.9% | 0.01% | −0.38 |
| SPOT Spotify Technology SA | Reduce -51.1% | 0.27% | −0.36 |
| WCN Waste Connections Inc. | Reduce -92.0% | 0.03% | −0.36 |
| MSFT Microsoft Corp. | Reduce -6.8% | 4.13% | −0.32 |
| AMZN Amazon.com Inc. | Reduce -7.5% | 2.30% | −0.29 |
| ELV Elevance Health Inc. | Reduce -80.0% | 0.04% | −0.22 |
| DOV Dover Corp. | Reduce -77.0% | 0.05% | −0.21 |
| TW Tradeweb Markets Inc. Class A | Reduce -95.6% | 0.01% | −0.21 |
| BUR Burford Capital Ltd. | Reduce -60.3% | 0.09% | −0.20 |
| PANW Palo Alto Networks Inc. | Reduce -68.7% | 0.08% | −0.20 |
| META Meta Platforms Inc. Class A | Reduce -5.2% | 1.85% | −0.20 |
| MELI MercadoLibre Inc. | Reduce -26.7% | 0.31% | −0.19 |
| LIN Linde PLC | Reduce -35.4% | 0.30% | −0.18 |
| CRM Salesforce Inc. | Reduce -24.0% | 0.28% | −0.16 |
| UNH Unitedhealth Group Inc. | Reduce -37.2% | 0.32% | −0.16 |
| GOOGL Alphabet Inc. Class A | Reduce -30.7% | 1.64% | −0.15 |
| CNC Centene Corp. | Reduce -89.5% | 0.01% | −0.13 |
| V Visa Inc. Class A | Reduce -12.0% | 0.56% | −0.13 |
| ANSS Ansys Inc. | Sold out | 0.00% | −0.13 |
| VIK Viking Holdings Ltd. | Sold out | 0.00% | −0.12 |
| NFLX Netflix Inc. | Reduce -1.8% | 0.65% | −0.12 |
| FNF Fidelity National Financial | Reduce -93.7% | 0.01% | −0.12 |
| FTNT Fortinet Inc. | Reduce -59.4% | 0.05% | −0.12 |
| FLUT Flutter Entertainment PLC-Di | Reduce -21.1% | 0.24% | −0.12 |
| CL Colgate-Palmolive Co. | Reduce -41.7% | 0.11% | −0.12 |
| COST Costco Wholesale Corp. | Reduce -12.0% | 0.42% | −0.11 |
| FISV Fiserv Inc. | Reduce -41.5% | 0.08% | −0.11 |
| BSX Boston Scientific Corp. | Reduce -14.6% | 0.31% | −0.11 |
| AMAT Applied Materials Inc. | Reduce -45.1% | 0.15% | −0.11 |
| PYPL PayPal Holdings Inc. | Reduce -40.3% | 0.11% | −0.10 |
| PM Philip Morris International | Reduce -8.7% | 0.37% | −0.10 |
| MNDY Monday.com Ltd. | Reduce -78.0% | 0.02% | −0.10 |
| LLY Eli Lilly & Co. | Reduce -4.4% | 0.89% | −0.10 |
| CLX Clorox Company | Reduce -92.5% | 0.01% | −0.10 |
| CSCO Cisco Systems Inc. | Reduce -16.6% | 0.37% | −0.10 |
| CYBR Cyberark Software Ltd./Israel | Reduce -65.9% | 0.06% | −0.09 |
| ISRG Intuitive Surgical Inc. | Reduce -3.6% | 0.28% | −0.09 |
| TXN Texas Instruments Inc. | Reduce -20.2% | 0.18% | −0.09 |
| SHW The Sherwin-Williams Co. | Reduce -43.5% | 0.10% | −0.09 |
| ABT Abbott Laboratories | Reduce -20.3% | 0.26% | −0.09 |
| KSA Ishrs MSCI Saudi Arabia ETF | Sold out | 0.00% | −0.09 |
| NOW ServiceNow Inc. | Reduce -21.8% | 0.17% | −0.09 |
| NSC Norfolk Southern Corp. | Reduce -70.2% | 0.04% | −0.08 |
| AXP American Express Co. | Reduce -28.3% | 0.20% | −0.08 |
| HD Home Depot Inc. | Reduce -18.7% | 0.48% | −0.08 |
| GDXJ Vaneck Junior Gold Miners | Reduce -53.6% | 0.14% | −0.08 |
| WFC Wells Fargo & Co. | Reduce -17.9% | 0.36% | −0.08 |
| ACN Accenture PLC Class A | Reduce -6.3% | 0.22% | −0.08 |
Portfolio Buys Q2 2025 → Q3 2025
| VOO Vanguard S&P 500 ETF | Add +266.9% | 6.15% | +4.53 |
| GOOG Alphabet Inc. Class C | Add +48.1% | 1.35% | +0.66 |
| INTC Intel Corp. | Add +203.0% | 0.31% | +0.24 |
| ADSK Autodesk Inc. | Add +102.1% | 0.46% | +0.23 |
| AG First Majestic Silver Corp. | New | 0.22% | +0.22 |
| GLD SPDR Gold Shares | Add +43.0% | 0.40% | +0.15 |
| LRCX Lam Research Corp. | Add +40.7% | 0.31% | +0.14 |
| ORCL Oracle Corp. | Add +11.8% | 0.48% | +0.13 |
| PH Parker Hannifin Corp. | Add +155.0% | 0.18% | +0.11 |
| JNJ Johnson & Johnson | Add +2.7% | 0.67% | +0.11 |
| CVS CVS Health Corp. | Add +97.0% | 0.21% | +0.11 |
| EQT Eqt Corp. | Add +544.3% | 0.12% | +0.10 |
| CTVA Corteva Inc. | Add +206.6% | 0.16% | +0.10 |
| GE General Electric | Add +12.1% | 0.48% | +0.10 |
| ORLY O'reilly Automotive Inc. | Add +48.2% | 0.24% | +0.10 |
| BROS Dutch Bros Inc. Class A | Add +1611.2% | 0.10% | +0.09 |
| RDDT Reddit Inc. Class A | Add +74.4% | 0.15% | +0.09 |
| RAL Ralliant Corp. | Add +3000.8% | 0.09% | +0.09 |
| NDAQ Nasdaq Inc. | Add +108.7% | 0.17% | +0.08 |
| GD General Dynamics Corp. | Add +35.1% | 0.24% | +0.08 |
| C Citigroup Inc. | Add +31.7% | 0.23% | +0.08 |
| DG Dollar General Corp. | Add +530.9% | 0.09% | +0.07 |
| PFE Pfizer Inc. | Add +32.3% | 0.28% | +0.07 |
| ROK Rockwell Automation Inc. | Add +134.2% | 0.12% | +0.07 |
| WELL Welltower Inc. | Add +31.5% | 0.22% | +0.07 |
| CCK Crown Holdings Inc. | Add +137.2% | 0.13% | +0.07 |
| FERG Ferguson Enterprises Inc. | Add +248.0% | 0.09% | +0.07 |
| AUGO Aura Minerals Inc. | New | 0.07% | +0.07 |
| CINF Cincinnati Financial Corp. | Add +116.5% | 0.12% | +0.07 |
| CSX CSX Corp. | Add +111.1% | 0.12% | +0.07 |
| SCHW Schwab (charles) Corp. | Add +34.5% | 0.26% | +0.07 |
| APH Amphenol Corp. Class A | Add +4.5% | 0.32% | +0.07 |
| DTE DTE Energy Company | Add +57.8% | 0.17% | +0.06 |
| EA Electronic Arts Inc. | Add +63.1% | 0.12% | +0.06 |
| F Ford Motor Co. | Add +178.0% | 0.09% | +0.06 |
| ULTA Ulta Beauty Inc. | Add +376.6% | 0.07% | +0.06 |
| FAST Fastenal Co. | Add +128.9% | 0.10% | +0.06 |
| NXT Nextpower Inc. | Add +43.4% | 0.12% | +0.06 |
| PHIN Phinia Inc. | Add +92.2% | 0.10% | +0.06 |
| MBC Masterbrand Inc. | Add +80.2% | 0.10% | +0.05 |
| AMD Advanced Micro Devices | Add +20.0% | 0.22% | +0.05 |
| EW Edwards Lifesciences Corp. | Add +88.1% | 0.12% | +0.05 |
| PPG PPG Industries Inc. | Add +370.3% | 0.07% | +0.05 |
| EXPE Expedia Group Inc. | Add +16.7% | 0.17% | +0.05 |
| WS Worthington Steel Inc. | Add +429.8% | 0.06% | +0.05 |
| AZO AutoZone Inc. | Add +1.3% | 0.42% | +0.05 |
| AME Ametek Inc. | Add +46.4% | 0.15% | +0.05 |
| VLTO Veralto Corp. | Add +24.6% | 0.22% | +0.05 |
| AMRZ Amrize Ltd. | Add +109.9% | 0.09% | +0.05 |
| JKHY Jack Henry & Associates Inc. | Add +693.2% | 0.05% | +0.04 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,510 | $37.3B | VOO, SPCX, NVDA, AAPL, MSFT |
| Q1 2026 | 1,478 | $24.0B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q4 2025 | 1,619 | $28.9B | VOO, NVDA, AAPL, MSFT, AMZN |
| Q3 2025 | 2,023 | $24.9B | VOO, NVDA, AAPL, MSFT, AMZN |
| Q2 2025 | 2,054 | $23.8B | NVDA, MSFT, AAPL, AMZN, META |
| Q1 2025 | 2,077 | $24.0B | IVV, AAPL, NVDA, MSFT, AMZN |
| Q4 2024 | 1,538 | $27.7B | IVV, AAPL, NVDA, MSFT, AMZN |
| Q3 2024 | 1,484 | $21.0B | AAPL, MSFT, NVDA, GOOGL, AMZN |
| Q2 2024 | 1,556 | $17.6B | MSFT, AAPL, NVDA, INFA, GOOGL |
| Q1 2024 | 1,657 | $15.7B | MSFT, AAPL, NVDA, AMZN, GOOGL |