Teacher Retirement System of Texas
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 28, 2026), Teacher Retirement System of Texas reported 1,619 stock positions worth $28.9 billion. Its top holding was Vanguard S&P 500 ETF (VOO) at 14.3% of the portfolio, followed by Nvidia (NVDA, 4.9%) and Apple (AAPL, 4.4%). Compared with Q3 2025, it opened 33 new positions, sold out of 439, added to 466 and reduced 1,109. The biggest buy was Vanguard S&P 500 ETF (VOO, shares +165%) and the biggest sale Vaneck Gold Miners ETF (GDX, shares −92%).
- Most Recent 13F
- Q2 2026
- Location
- AUSTIN, TX
- CIK
- 0000796848
- Portfolio Value
- $28.9B (Q4 2025)
- SEC Filing
- 0000796848-26-000001 ↗ filed Jan 28, 2026
Holdings Value
Holdings 1,619 stocks · $28.9B
| VOO Vanguard S&P 500 ETF | 14.35% | 6,615,774 | $4.1B | Add +164.7% |
| NVDA Nvidia Corp. | 4.94% | 7,657,821 | $1.4B | Add +11.4% |
| AAPL Apple Inc. | 4.40% | 4,682,646 | $1.3B | Add +11.1% |
| MSFT Microsoft Corp. | 3.70% | 2,214,496 | $1.1B | Add +11.7% |
| AMZN Amazon.com Inc. | 2.30% | 2,877,676 | $664.2M | Add +10.7% |
| GOOGL Alphabet Inc. Class A | 2.04% | 1,887,621 | $590.8M | Add +12.2% |
| AVGO Broadcom Inc. | 1.76% | 1,468,214 | $508.1M | Add +13.3% |
| GOOG Alphabet Inc. Class C | 1.61% | 1,486,956 | $466.6M | Add +7.6% |
| META Meta Platforms Inc. Class A | 1.60% | 698,940 | $461.4M | Add +11.8% |
| IVV iShares Core S&P 500 ETF | 1.50% | 632,560 | $433.3M | Add +27.7% |
| TSLA Tesla Inc. | 1.20% | 771,205 | $346.8M | Add +5.4% |
| JPM JPMorgan Chase & Co. | 1.00% | 900,668 | $290.2M | Add +11.1% |
| LLY Eli Lilly & Co. | 1.00% | 268,894 | $289.0M | Reduce -7.5% |
| EMXC iShares MSCI Emr MRK Ex Chna | 0.83% | 3,305,644 | $240.3M | Add +2.0% |
| GLD SPDR Gold Shares | 0.78% | 568,900 | $225.5M | Add +103.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.73% | 419,892 | $211.1M | Add +6.9% |
| MA Mastercard Inc. Class A | 0.65% | 329,822 | $188.3M | Add +11.4% |
| V Visa Inc. Class A | 0.60% | 492,579 | $172.8M | Add +20.5% |
| JNJ Johnson & Johnson | 0.59% | 824,669 | $170.7M | Reduce -8.5% |
| WMT Walmart Inc. | 0.57% | 1,488,076 | $165.8M | Add +18.6% |
| XOM Exxon Mobil Corp. | 0.56% | 1,352,839 | $162.8M | Add +1.4% |
| PLTR Palantir Technologies Inc. Class A | 0.52% | 847,177 | $150.6M | Add +10.6% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.51% | 567,165 | $146.3M | Add +89.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.50% | 2,604,848 | $143.3M | Add +31.4% |
| IJR iShares Core S&P Small-Cap E | 0.49% | 1,185,799 | $142.5M | Add +92.0% |
| GE General Electric filed as GE AEROSPACE | 0.49% | 460,211 | $141.8M | Add +15.7% |
| PG The Procter & Gamble Co. | 0.48% | 975,151 | $139.7M | Add +19.8% |
| NFLX Netflix Inc. | 0.48% | 1,473,196 | $138.1M | Add +9.2% |
| ABBV Abbvie Inc. | 0.47% | 589,752 | $134.8M | Add +2.6% |
| KO The Coca-Cola Co. | 0.43% | 1,796,760 | $125.6M | Add +19.4% |
| COST Costco Wholesale Corp. | 0.42% | 140,429 | $121.1M | Add +24.5% |
| HD Home Depot Inc. | 0.39% | 330,516 | $113.7M | Add +11.6% |
| WFC Wells Fargo & Co. | 0.39% | 1,208,781 | $112.7M | Add +14.0% |
| ADSK Autodesk Inc. | 0.38% | 371,695 | $110.0M | Add +3.9% |
| LRCX Lam Research Corp. | 0.37% | 628,708 | $107.6M | Add +10.2% |
| CSCO Cisco Systems Inc. | 0.36% | 1,346,340 | $103.7M | Reduce -0.1% |
| CAT Caterpillar Inc. | 0.34% | 170,618 | $97.7M | Add +9.7% |
| AMD Advanced Micro Devices | 0.33% | 449,160 | $96.2M | Add +31.5% |
| INTC Intel Corp. | 0.33% | 2,571,913 | $94.9M | Add +11.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.32% | 312,259 | $92.5M | Add +17.8% |
| BKNG Booking Holdings Inc. | 0.32% | 17,196 | $92.1M | Add +13.5% |
| GEV GE Vernova Inc. | 0.32% | 140,291 | $91.7M | Add +14.0% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.31% | 588,711 | $90.4M | Add +3.4% |
| SLV iShares Silver Trust | 0.31% | 1,400,000 | $90.2M | Add +259.9% |
| VZ Verizon Communications Inc. | 0.31% | 2,197,366 | $89.5M | Add +41.0% |
| INTU Intuit Inc. | 0.31% | 135,100 | $89.5M | Add +8.4% |
| ORCL Oracle Corp. | 0.30% | 452,401 | $88.2M | Add +7.6% |
| PM Philip Morris International | 0.30% | 547,877 | $87.9M | Reduce -3.1% |
| APH Amphenol Corp. Class A | 0.30% | 647,891 | $87.6M | Reduce -0.6% |
| APG Api Group Corp. | 0.30% | 2,248,783 | $86.0M | Add +0.3% |
| MELI MercadoLibre Inc. | 0.30% | 42,611 | $85.8M | Add +27.1% |
| UNH Unitedhealth Group Inc. | 0.29% | 255,768 | $84.4M | Add +11.8% |
| PEGA Pegasystems Inc. | 0.29% | 1,400,086 | $83.6M | Reduce -7.9% |
| ANET Arista Networks Inc. | 0.28% | 627,143 | $82.2M | Add +58.7% |
| AG First Majestic Silver Corp. | 0.28% | 4,918,000 | $81.9M | Add +9.8% |
| MRK Merck & Co. Inc. | 0.28% | 777,967 | $81.9M | Reduce -9.9% |
| ISRG Intuitive Surgical Inc. | 0.28% | 144,494 | $81.8M | Reduce -6.9% |
| LIN Linde PLC | 0.28% | 190,490 | $81.2M | Add +20.9% |
| MU Micron Technology Inc. | 0.28% | 281,210 | $80.3M | Add +51.6% |
| CRM Salesforce Inc. | 0.27% | 296,956 | $78.7M | Add +0.9% |
| CVX Chevron Corp. | 0.27% | 505,706 | $77.1M | Add +9.0% |
| ACN Accenture PLC Class A | 0.26% | 282,340 | $75.8M | Add +27.7% |
| ADBE Adobe Inc. | 0.26% | 215,611 | $75.5M | Add +13.4% |
| CMCSA Comcast Corp. Class A | 0.26% | 2,512,894 | $75.1M | Add +19.3% |
| MCD McDonald's Corp. | 0.26% | 243,923 | $74.6M | Add +8.6% |
| RTX RTX Corp. | 0.26% | 406,273 | $74.5M | Add +18.4% |
| C Citigroup Inc. | 0.25% | 622,054 | $72.6M | Add +11.4% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.25% | 636,938 | $72.5M | Add +24.9% |
| PEP Pepsico Inc. | 0.24% | 492,852 | $70.7M | Add +2.5% |
| AXP American Express Co. | 0.24% | 187,295 | $69.3M | Add +23.6% |
| HON Honeywell International Inc. | 0.24% | 350,983 | $68.5M | Add +117.5% |
| CASY Casey's General Stores Inc. | 0.24% | 123,183 | $68.1M | Reduce -2.4% |
| MO Altria Group Inc. | 0.23% | 1,169,116 | $67.4M | Add +14.5% |
| WMB Williams Cos Inc. | 0.23% | 1,120,775 | $67.4M | Add +423.6% |
| ADP Automatic Data Processing | 0.23% | 257,387 | $66.2M | Add +9.6% |
| KLAC KLA Corp. | 0.23% | 53,840 | $65.4M | Add +0.7% |
| SCHW Schwab (charles) Corp. | 0.23% | 651,359 | $65.1M | Reduce -2.2% |
| CI The Cigna Group | 0.22% | 235,903 | $64.9M | Add +5.8% |
| VEEV Veeva Systems Inc. Class A | 0.22% | 290,182 | $64.8M | Add +180.8% |
| AZO AutoZone Inc. | 0.22% | 18,975 | $64.4M | Reduce -23.0% |
| GM General Motors Co. | 0.22% | 790,249 | $64.3M | Reduce -3.8% |
| NEM Newmont Corp. | 0.22% | 639,966 | $63.9M | Add +27.7% |
| QCOM Qualcomm Inc. | 0.22% | 372,548 | $63.7M | Reduce -10.8% |
| AU Anglogold Ashanti PLC | 0.22% | 742,930 | $63.4M | No change |
| WDC Western Digital Corp. | 0.22% | 367,340 | $63.3M | Add +534.6% |
| BAP Credicorp Ltd. | 0.22% | 220,189 | $63.2M | Reduce -0.8% |
| AVB Avalonbay Communities Inc. | 0.22% | 348,068 | $63.1M | Add +1765.8% |
| VMRK Vivmark Residential filed as EQUITY RESIDENTIAL | 0.22% | 998,401 | $62.9M | Add +2012.0% |
| T AT&T Inc. | 0.22% | 2,533,174 | $62.9M | Add +17.2% |
| MCK McKesson Corp. | 0.22% | 76,590 | $62.8M | Add +0.3% |
| PFE Pfizer Inc. | 0.22% | 2,509,842 | $62.5M | Reduce -9.2% |
| BMY Bristol-Myers Squibb Co. | 0.22% | 1,153,556 | $62.2M | Reduce -4.5% |
| GD General Dynamics Corp. | 0.21% | 182,327 | $61.4M | Add +3.8% |
| FLUT Flutter Entertainment PLC-Di | 0.21% | 285,133 | $61.3M | Add +21.0% |
| VLTO Veralto Corp. | 0.20% | 593,907 | $59.3M | Add +14.6% |
| SPGI S&P Global Inc. | 0.20% | 112,895 | $59.0M | Add +5.2% |
| PGR Progressive Corp. | 0.20% | 257,380 | $58.6M | Reduce -6.4% |
| MMM 3M Co. | 0.20% | 360,889 | $57.8M | Add +40.1% |
| TMUS T-Mobile US Inc. | 0.20% | 283,125 | $57.5M | Add +35.2% |
| SARO Standardaero Inc. | 0.20% | 1,987,267 | $57.0M | Reduce -0.4% |
Portfolio Sells Q3 2025 → Q4 2025
| GDX Vaneck Gold Miners ETF | Reduce -92.2% | 0.02% | −0.24 |
| BJ Bj's Wholesale Club Holdings | Reduce -86.9% | 0.03% | −0.20 |
| AZO AutoZone Inc. | Reduce -23.0% | 0.22% | −0.20 |
| ILMN Illumina Inc. | Reduce -99.0% | 0.00% | −0.20 |
| UNP Union Pacific Corp. | Reduce -45.3% | 0.14% | −0.16 |
| NDAQ Nasdaq Inc. | Reduce -92.5% | 0.01% | −0.16 |
| APP AppLovin Corp. Class A | Reduce -44.1% | 0.12% | −0.14 |
| KMB Kimberly-Clark Corp. | Reduce -75.1% | 0.03% | −0.13 |
| BSX Boston Scientific Corp. | Reduce -30.5% | 0.18% | −0.13 |
| CCK Crown Holdings Inc. | Reduce -96.5% | 0.00% | −0.12 |
| VST Vistra Corp. | Reduce -68.5% | 0.03% | −0.12 |
| EQT Eqt Corp. | Reduce -96.3% | 0.00% | −0.12 |
| CEG Constellation Energy | Reduce -56.5% | 0.07% | −0.11 |
| WELL Welltower Inc. | Reduce -44.3% | 0.11% | −0.11 |
| IT Gartner Inc. | Reduce -75.7% | 0.03% | −0.11 |
| CERT Certara Inc. | Reduce -1.1% | 0.17% | −0.11 |
| ORLY O'reilly Automotive Inc. | Reduce -23.9% | 0.13% | −0.11 |
| SYK Stryker Corp. | Reduce -24.9% | 0.16% | −0.10 |
| ACM Aecom | Reduce -97.7% | 0.00% | −0.10 |
| J Jacobs Solutions Inc. | Reduce -74.7% | 0.02% | −0.10 |
| BUR Burford Capital Ltd. | Sold out | 0.00% | −0.09 |
| DTE DTE Energy Company | Reduce -44.3% | 0.07% | −0.09 |
| EA Electronic Arts Inc. | Reduce -71.8% | 0.03% | −0.09 |
| SE Sea Ltd.-ADR | Reduce -4.8% | 0.13% | −0.09 |
| FAST Fastenal Co. | Reduce -92.2% | 0.01% | −0.09 |
| MDT Medtronic PLC | Reduce -39.6% | 0.10% | −0.09 |
| FFIV F5 Inc. | Reduce -97.3% | 0.00% | −0.09 |
| MRP Millrose Properties | Reduce -92.1% | 0.01% | −0.09 |
| MET Metlife Inc. | Reduce -60.3% | 0.04% | −0.09 |
| RDDT Reddit Inc. Class A | Reduce -49.7% | 0.07% | −0.09 |
| NXT Nextpower Inc. | Reduce -68.9% | 0.04% | −0.08 |
| BAM Brookfield Asset Mgmt-A | Reduce -83.3% | 0.01% | −0.08 |
| ECL Ecolab Inc. | Reduce -32.4% | 0.10% | −0.08 |
| JNJ Johnson & Johnson | Reduce -8.5% | 0.59% | −0.08 |
| SPOT Spotify Technology SA | Reduce -2.4% | 0.19% | −0.08 |
| WRB WR Berkley Corp. | Reduce -96.1% | 0.00% | −0.08 |
| BMRN Biomarin Pharmaceutical Inc. | Reduce -92.5% | 0.01% | −0.07 |
| KR Kroger Co. | Reduce -28.9% | 0.09% | −0.07 |
| PGR Progressive Corp. | Reduce -6.4% | 0.20% | −0.07 |
| AUGO Aura Minerals Inc. | Sold out | 0.00% | −0.07 |
| PFE Pfizer Inc. | Reduce -9.2% | 0.22% | −0.07 |
| ECG Everus Construction Group | Reduce -58.8% | 0.04% | −0.07 |
| CTVA Corteva Inc. | Reduce -32.7% | 0.09% | −0.07 |
| PPG PPG Industries Inc. | Reduce -95.4% | 0.00% | −0.07 |
| DXCM Dexcom Inc. | Reduce -56.6% | 0.04% | −0.07 |
| ABT Abbott Laboratories | Reduce -7.1% | 0.19% | −0.07 |
| SNDK Sandisk Corp. | Reduce -72.2% | 0.07% | −0.07 |
| PM Philip Morris International | Reduce -3.1% | 0.30% | −0.06 |
| PEGA Pegasystems Inc. | Reduce -7.9% | 0.29% | −0.06 |
| KMI Kinder Morgan Inc. | Reduce -51.1% | 0.04% | −0.06 |
Portfolio Buys Q3 2025 → Q4 2025
| VOO Vanguard S&P 500 ETF | Add +164.7% | 14.35% | +8.19 |
| GOOGL Alphabet Inc. Class A | Add +12.2% | 2.04% | +0.40 |
| GLD SPDR Gold Shares | Add +103.7% | 0.78% | +0.38 |
| GOOG Alphabet Inc. Class C | Add +7.6% | 1.61% | +0.26 |
| SLV iShares Silver Trust | Add +259.9% | 0.31% | +0.25 |
| VMRK Vivmark Residential | Add +2012.0% | 0.22% | +0.21 |
| AVB Avalonbay Communities Inc. | Add +1765.8% | 0.22% | +0.20 |
| VB Vanguard Most SM-Cap ETF-Usd | Add +89.5% | 0.51% | +0.20 |
| IJR iShares Core S&P Small-Cap E | Add +92.0% | 0.49% | +0.20 |
| WDC Western Digital Corp. | Add +534.6% | 0.22% | +0.19 |
| WMB Williams Cos Inc. | Add +423.6% | 0.23% | +0.18 |
| IVV iShares Core S&P 500 ETF | Add +27.7% | 1.50% | +0.17 |
| MU Micron Technology Inc. | Add +51.6% | 0.28% | +0.15 |
| ESS Essex Property Trust Inc. | Add +1768.0% | 0.14% | +0.13 |
| MAA Mid-America Apartment Comm | Add +1766.5% | 0.14% | +0.13 |
| AMD Advanced Micro Devices | Add +31.5% | 0.33% | +0.11 |
| FIX Comfort Systems USA Inc. | Add +372.1% | 0.14% | +0.11 |
| B Barrick Mining Corp. | New | 0.11% | +0.11 |
| HON Honeywell International Inc. | Add +117.5% | 0.24% | +0.10 |
| VEEV Veeva Systems Inc. Class A | Add +180.8% | 0.22% | +0.10 |
| TSM Taiwan Semiconductor-SP ADR | New | 0.10% | +0.10 |
| STX Seagate Technology Holdings | Add +293.8% | 0.13% | +0.10 |
| CRDO Credo Technology Group Holdi | Add +486.2% | 0.12% | +0.10 |
| UDR Udr Inc. | Add +1766.8% | 0.10% | +0.09 |
| BL Blackline Inc. | Add +5776.8% | 0.09% | +0.09 |
| AAPL Apple Inc. | Add +11.1% | 4.40% | +0.09 |
| BAC Bank of America Corp. | Add +31.4% | 0.50% | +0.08 |
| CPT Camden Property Trust | Add +517.9% | 0.10% | +0.08 |
| UHS Universal Health Services-B | Add +380.3% | 0.10% | +0.08 |
| IRM Iron Mountain Inc. | Add +764.4% | 0.10% | +0.08 |
| RBRK Rubrik Inc. Class A | Add +1375.6% | 0.09% | +0.08 |
| PFG Principal Financial Group | Add +117.0% | 0.14% | +0.07 |
| Q Qnity Electronics Inc. | Add +455.3% | 0.09% | +0.07 |
| ROST Ross Stores Inc. | Add +53.3% | 0.20% | +0.07 |
| ACGL Arch Capital Group Ltd. | Add +437.3% | 0.09% | +0.07 |
| SOLS Solstice Adv Materials Inc. | Add +1036.4% | 0.08% | +0.07 |
| PPTA Perpetua Resources Corp. | New | 0.07% | +0.07 |
| AMT American Tower Corp. | Add +117.8% | 0.16% | +0.07 |
| LMT Lockheed Martin Corp. | Add +142.9% | 0.13% | +0.07 |
| LRCX Lam Research Corp. | Add +10.2% | 0.37% | +0.07 |
| IDXX Idexx Laboratories Inc. | Add +85.3% | 0.15% | +0.06 |
| LVS Las Vegas Sands Corp. | Add +328.5% | 0.08% | +0.06 |
| AG First Majestic Silver Corp. | Add +9.8% | 0.28% | +0.06 |
| GGG Graco Inc. | Add +294.4% | 0.08% | +0.06 |
| SPG Simon Property Group Inc. | Add +195.3% | 0.10% | +0.06 |
| TEL Te Connectivity PLC | Add +65.2% | 0.18% | +0.06 |
| TPR Tapestry Inc. | Add +105.0% | 0.11% | +0.06 |
| HCA HCA Healthcare Inc. | Add +80.1% | 0.13% | +0.06 |
| WMT Walmart Inc. | Add +18.6% | 0.57% | +0.05 |
| ANET Arista Networks Inc. | Add +58.7% | 0.28% | +0.05 |
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 |