Teachers Retirement System of the State of Kentucky
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 29, 2026), Teachers Retirement System of the State of Kentucky reported 1,679 stock positions worth $13.3 billion. Its top holding was Nvidia (NVDA) at 5.0% of the portfolio, followed by Microsoft (MSFT, 4.0%) and Apple (AAPL, 3.9%). Compared with Q3 2025, it opened 38 new positions, sold out of 35, added to 195 and reduced 740. The biggest buy was Citigroup (C, shares +161%) and the biggest sale Microsoft (MSFT, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- FRANKFORT, KY
- CIK
- 0000714142
- Portfolio Value
- $13.3B (Q4 2025)
- SEC Filing
- 0000714142-26-000001 ↗ filed Jan 29, 2026
Holdings Value
Holdings 1,679 stocks · $13.3B
| NVDA Nvidia Corp. | 5.04% | 3,603,042 | $672.0M | Reduce -2.4% |
| MSFT Microsoft Corp. | 4.01% | 1,106,904 | $535.3M | Reduce -0.5% |
| AAPL Apple Inc. | 3.91% | 1,920,057 | $522.0M | Reduce -2.3% |
| AMZN Amazon.com Inc. | 2.90% | 1,675,945 | $386.8M | Reduce -1.7% |
| GOOGL Alphabet Inc. Class A | 2.71% | 1,153,699 | $361.1M | Reduce -7.0% |
| AVGO Broadcom Inc. | 2.11% | 813,320 | $281.5M | Add +1.9% |
| META Meta Platforms Inc. Class A | 1.80% | 364,591 | $240.7M | Reduce -3.5% |
| LLY Eli Lilly & Co. | 1.22% | 151,238 | $162.5M | Reduce -8.4% |
| GOOG Alphabet Inc. Class C | 1.20% | 512,251 | $160.7M | Reduce -2.6% |
| JPM JPMorgan Chase & Co. | 1.06% | 439,874 | $141.7M | Reduce -2.6% |
| TSLA Tesla Inc. | 0.98% | 289,892 | $130.4M | Reduce -1.3% |
| V Visa Inc. Class A | 0.76% | 288,076 | $101.0M | Add +6.1% |
| QCOM Qualcomm Inc. | 0.72% | 558,913 | $95.6M | Add +25.9% |
| NFLX Netflix Inc. | 0.67% | 960,038 | $90.0M | Add +23.4% |
| GILD Gilead Sciences Inc. | 0.58% | 627,087 | $77.0M | Reduce 0.0% |
| TEVA Teva Pharmaceutical-SP ADR | 0.57% | 2,445,300 | $76.3M | Reduce -6.4% |
| PH Parker Hannifin Corp. | 0.56% | 84,711 | $74.5M | Reduce -2.8% |
| AMD Advanced Micro Devices | 0.56% | 346,696 | $74.2M | Add +5.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.54% | 143,766 | $72.3M | No change |
| CB Chubb Ltd. | 0.52% | 223,587 | $69.8M | Add +25.9% |
| MA Mastercard Inc. Class A | 0.51% | 120,257 | $68.7M | Reduce -4.2% |
| BKNG Booking Holdings Inc. | 0.50% | 12,356 | $66.2M | Add +4.8% |
| CSCO Cisco Systems Inc. | 0.49% | 856,906 | $66.0M | Add +9.2% |
| WMT Walmart Inc. | 0.49% | 591,723 | $65.9M | Reduce -5.1% |
| WFC Wells Fargo & Co. | 0.48% | 692,630 | $64.6M | Reduce -18.2% |
| ABBV Abbvie Inc. | 0.48% | 278,591 | $63.7M | No change |
| JBL Jabil Inc. | 0.46% | 270,064 | $61.6M | Add +2.6% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.46% | 1,119,219 | $61.6M | No change |
| MS Morgan Stanley | 0.45% | 341,029 | $60.5M | No change |
| ORCL Oracle Corp. | 0.45% | 309,435 | $60.3M | Reduce -8.3% |
| KLAC KLA Corp. | 0.44% | 48,838 | $59.3M | Reduce -10.0% |
| MDT Medtronic PLC | 0.43% | 596,959 | $57.3M | Add +9.5% |
| SAN Banco Santander SA-Spon ADR | 0.43% | 4,861,360 | $57.0M | Add +7.7% |
| RIO Rio Tinto PLC-Spon ADR | 0.42% | 697,770 | $55.8M | No change |
| KR Kroger Co. | 0.41% | 877,859 | $54.8M | Add +5.3% |
| XOM Exxon Mobil Corp. | 0.40% | 443,480 | $53.4M | Reduce -3.7% |
| T AT&T Inc. | 0.40% | 2,143,540 | $53.2M | Add +2.8% |
| VALE Vale SA-SP ADR | 0.40% | 4,072,400 | $53.1M | Add +52.0% |
| CMI Cummins Inc. | 0.39% | 101,461 | $51.8M | Reduce -1.7% |
| AXP American Express Co. | 0.38% | 137,776 | $51.0M | Reduce -17.4% |
| BCS Barclays PLC-Spons ADR | 0.38% | 1,996,040 | $50.8M | Reduce -10.8% |
| ADBE Adobe Inc. | 0.38% | 143,497 | $50.2M | Add +4.4% |
| ING ING Groep N.V.-Sponsored ADR | 0.37% | 1,784,650 | $50.0M | Add +0.3% |
| NWG Natwest Group PLC -Spon ADR | 0.37% | 2,809,591 | $49.2M | Add +0.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.37% | 164,726 | $48.8M | No change |
| TTE Totalenergies SE | 0.36% | 733,680 | $48.0M | Add +1.4% |
| URI United Rentals Inc. | 0.36% | 59,022 | $47.8M | Reduce -1.8% |
| AER Aercap Holdings NV | 0.35% | 327,670 | $47.1M | No change |
| GS Goldman Sachs Group Inc. | 0.34% | 52,286 | $46.0M | Reduce -8.5% |
| SHEL Shell PLC-ADR | 0.34% | 619,690 | $45.5M | No change |
| C Citigroup Inc. | 0.34% | 386,054 | $45.0M | Add +161.1% |
| PM Philip Morris International | 0.34% | 280,113 | $44.9M | No change |
| HD Home Depot Inc. | 0.34% | 130,103 | $44.8M | Reduce -2.2% |
| CRH CRH PLC | 0.32% | 345,840 | $43.2M | Add +18.5% |
| NOW ServiceNow Inc. | 0.31% | 274,000 | $42.0M | Add +9.1% |
| HCA HCA Healthcare Inc. | 0.31% | 88,785 | $41.5M | Reduce -7.5% |
| AMGN Amgen Inc. | 0.31% | 126,248 | $41.3M | No change |
| UNH Unitedhealth Group Inc. | 0.30% | 122,360 | $40.4M | No change |
| COST Costco Wholesale Corp. | 0.30% | 46,745 | $40.3M | No change |
| MUFG Mitsubishi Ufj Finl-Spon ADR | 0.30% | 2,506,310 | $39.8M | No change |
| TSM Taiwan Semiconductor-SP ADR | 0.30% | 129,780 | $39.4M | No change |
| JNJ Johnson & Johnson | 0.29% | 189,024 | $39.1M | No change |
| PGR Progressive Corp. | 0.29% | 171,350 | $39.0M | Reduce -12.0% |
| GM General Motors Co. | 0.29% | 478,324 | $38.9M | Reduce -13.1% |
| MCK McKesson Corp. | 0.29% | 47,329 | $38.8M | No change |
| MU Micron Technology Inc. | 0.29% | 135,353 | $38.6M | Reduce -27.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.29% | 56,275 | $38.4M | Reduce -0.6% |
| CFG Citizens Financial Group | 0.29% | 655,634 | $38.3M | Add +10.8% |
| NRG NRG Energy Inc. | 0.28% | 238,243 | $37.9M | Add +47.0% |
| NVS Novartis AG-Sponsored ADR | 0.28% | 274,950 | $37.9M | No change |
| MO Altria Group Inc. | 0.28% | 657,035 | $37.9M | No change |
| NXPI NXP Semiconductors NV | 0.28% | 171,270 | $37.2M | No change |
| GE General Electric filed as GE AEROSPACE | 0.28% | 120,534 | $37.1M | Reduce -5.1% |
| TPR Tapestry Inc. | 0.28% | 290,399 | $37.1M | No change |
| COF Capital One Financial Corp. | 0.27% | 149,321 | $36.2M | No change |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.27% | 305,774 | $35.5M | Add +28.1% |
| FITB Fifth Third Bancorp | 0.26% | 753,552 | $35.3M | No change |
| FSLR First Solar Inc. | 0.26% | 134,379 | $35.1M | No change |
| EXPE Expedia Group Inc. | 0.26% | 123,832 | $35.1M | Reduce -15.5% |
| APTV Aptiv PLC | 0.26% | 457,658 | $34.8M | Add +286.9% |
| CRM Salesforce Inc. | 0.26% | 130,565 | $34.6M | Add +1.2% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.26% | 301,243 | $34.3M | Add +9.7% |
| APO Apollo Global Management Inc. | 0.26% | 236,107 | $34.2M | No change |
| AMAT Applied Materials Inc. | 0.25% | 131,770 | $33.9M | Reduce -21.5% |
| CTSH Cognizant Tech Solutions-A | 0.25% | 406,851 | $33.8M | No change |
| CAT Caterpillar Inc. | 0.25% | 58,880 | $33.7M | Reduce -1.0% |
| IX Orix - Sponsored ADR filed as ORIX CORP | 0.25% | 1,147,000 | $33.5M | No change |
| DASH DoorDash Inc. Class A | 0.25% | 147,912 | $33.5M | Reduce -4.6% |
| BTI British American Tob-SP ADR | 0.25% | 589,730 | $33.4M | No change |
| VIPS Vipshop Holdings Ltd. - ADR | 0.24% | 1,836,920 | $32.5M | Add +6.0% |
| BWA Borgwarner Inc. | 0.24% | 716,959 | $32.3M | Add +0.3% |
| SHOP Shopify Inc. Class A | 0.24% | 197,466 | $31.8M | Reduce -25.1% |
| DELL Dell Technologies -C | 0.24% | 252,230 | $31.8M | Reduce -12.5% |
| UAL United Airlines Holdings Inc. | 0.24% | 282,583 | $31.6M | Reduce -11.4% |
| SYF Synchrony Financial | 0.24% | 377,364 | $31.5M | Add +0.5% |
| MAS Masco Corp. | 0.23% | 492,117 | $31.2M | Reduce -28.8% |
| PLTR Palantir Technologies Inc. Class A | 0.23% | 174,842 | $31.1M | Add +6.1% |
| ABT Abbott Laboratories | 0.23% | 247,956 | $31.1M | Reduce -20.3% |
| STT State Street Corp. | 0.23% | 238,775 | $30.8M | Reduce -1.7% |
| BABA Alibaba Group Holding-SP ADR | 0.23% | 208,580 | $30.6M | No change |
Other holdings (3): bonds, preferreds, convertibles and warrants · $72K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| GME.WS Gamestop Corp. | *W EXP 10/30/202 | 12,248 | $36K | No change |
| LIBERTY BROADBAND CORP (LBRDA 7 PERP A) | COM | 1,404 | $34K | No change |
| VAL.WS Valaris Ltd. -CW28 | *W EXP 04/29/202 | 1,259 | $2K | No change |
Total filed on the 13F, all lines: $13.3B.
Portfolio Sells Q3 2025 → Q4 2025
| MSFT Microsoft Corp. | Reduce -0.5% | 4.01% | −0.37 |
| META Meta Platforms Inc. Class A | Reduce -3.5% | 1.80% | −0.31 |
| ORCL Oracle Corp. | Reduce -8.3% | 0.45% | −0.27 |
| TMUS T-Mobile US Inc. | Reduce -44.6% | 0.19% | −0.22 |
| IPG Interpublic Group of Cos Inc. | Sold out | 0.00% | −0.21 |
| PSX Phillips 66 | Reduce -85.8% | 0.03% | −0.20 |
| NVDA Nvidia Corp. | Reduce -2.4% | 5.04% | −0.20 |
| CBRE CBRE Group Inc. Class A | Reduce -87.7% | 0.03% | −0.20 |
| FOXA Fox Corp. Class A | Reduce -96.0% | 0.01% | −0.20 |
| FISV Fiserv Inc. | Reduce -77.3% | 0.02% | −0.17 |
| PAYC Paycom Software Inc. | Reduce -96.4% | 0.00% | −0.16 |
| TTWO Take-Two Interactive Softwre | Reduce -85.2% | 0.02% | −0.15 |
| MAS Masco Corp. | Reduce -28.8% | 0.23% | −0.14 |
| AZO AutoZone Inc. | Reduce -22.9% | 0.18% | −0.12 |
| TXN Texas Instruments Inc. | Reduce -49.7% | 0.10% | −0.12 |
| EMN Eastman Chemical Co. | Reduce -88.6% | 0.01% | −0.11 |
| RBLX Roblox Corp. Class A | Reduce -15.7% | 0.10% | −0.10 |
| LEN Lennar Corp. Class A | Reduce -23.1% | 0.16% | −0.10 |
| MDLZ Mondelez International Inc. Class A | Reduce -61.2% | 0.04% | −0.09 |
| ABT Abbott Laboratories | Reduce -20.3% | 0.23% | −0.08 |
| TTD Trade Desk Inc./the Class A | Reduce -87.2% | 0.01% | −0.08 |
| URI United Rentals Inc. | Reduce -1.8% | 0.36% | −0.08 |
| HD Home Depot Inc. | Reduce -2.2% | 0.34% | −0.07 |
| DUOL Duolingo | Reduce -3.1% | 0.08% | −0.07 |
| PGR Progressive Corp. | Reduce -12.0% | 0.29% | −0.07 |
| DELL Dell Technologies -C | Reduce -12.5% | 0.24% | −0.07 |
| DASH DoorDash Inc. Class A | Reduce -4.6% | 0.25% | −0.07 |
| VZ Verizon Communications Inc. | Reduce -18.6% | 0.19% | −0.07 |
| NET Cloudflare Inc. Class A | Reduce -16.3% | 0.21% | −0.07 |
| JD Jd.com Inc.-ADR | Reduce -17.2% | 0.13% | −0.07 |
| IR Ingersoll-Rand Inc. | Reduce -34.2% | 0.10% | −0.06 |
| SONY Sony Group Corp. - SP ADR | Reduce -29.0% | 0.10% | −0.06 |
| SHOP Shopify Inc. Class A | Reduce -25.1% | 0.24% | −0.06 |
| CHWY Chewy Inc. Class A | Reduce -72.2% | 0.02% | −0.06 |
| IAG Iamgold Corp. | Sold out | 0.00% | −0.06 |
| EXE Expand Energy Corp. | Reduce -30.1% | 0.14% | −0.06 |
| WFC Wells Fargo & Co. | Reduce -18.2% | 0.48% | −0.06 |
| DOX Amdocs Ltd. | Reduce -25.2% | 0.14% | −0.05 |
| AMP Ameriprise Financial Inc. | Reduce -18.5% | 0.21% | −0.05 |
| KGC Kinross Gold Corp. | Sold out | 0.00% | −0.05 |
| FIX Comfort Systems USA Inc. | Reduce -74.6% | 0.02% | −0.05 |
| FIS Fidelity National Info Serv | Reduce -70.4% | 0.02% | −0.05 |
| PNR Pentair PLC | Reduce -81.9% | 0.01% | −0.05 |
| UBER Uber Technologies Inc. | Reduce -1.1% | 0.21% | −0.05 |
| BSX Boston Scientific Corp. | Reduce -32.5% | 0.08% | −0.04 |
| NEE Nextera Energy Inc. | Reduce -25.5% | 0.16% | −0.04 |
| DOCS Doximity Inc. Class A | Reduce -10.8% | 0.05% | −0.04 |
| AXP American Express Co. | Reduce -17.4% | 0.38% | −0.04 |
| BBY Best Buy Co. Inc. | Reduce -6.1% | 0.17% | −0.04 |
| SLB SLB Ltd. | Reduce -56.5% | 0.03% | −0.04 |
Portfolio Buys Q3 2025 → Q4 2025
| C Citigroup Inc. | Add +161.1% | 0.34% | +0.22 |
| OMC Omnicom Group | Add +2122.5% | 0.21% | +0.20 |
| TKO Tko Group Holdings Inc. | Add +2305.4% | 0.20% | +0.20 |
| GL Globe Life Inc. | Add +2617.6% | 0.19% | +0.18 |
| APTV Aptiv PLC | Add +286.9% | 0.26% | +0.18 |
| VALE Vale SA-SP ADR | Add +52.0% | 0.40% | +0.18 |
| QCOM Qualcomm Inc. | Add +25.9% | 0.72% | +0.15 |
| AMD Advanced Micro Devices | Add +5.2% | 0.56% | +0.15 |
| VEOEY Veolia Environnement-ADR | New | 0.15% | +0.15 |
| CB Chubb Ltd. | Add +25.9% | 0.52% | +0.14 |
| JKHY Jack Henry & Associates Inc. | Add +1697.5% | 0.14% | +0.13 |
| CCK Crown Holdings Inc. | Add +445.6% | 0.15% | +0.13 |
| AVGO Broadcom Inc. | Add +1.9% | 2.11% | +0.11 |
| AKAM Akamai Technologies Inc. | Add +59.9% | 0.20% | +0.09 |
| MRK Merck & Co. Inc. | Add +37.1% | 0.21% | +0.09 |
| CSCO Cisco Systems Inc. | Add +9.2% | 0.49% | +0.09 |
| NRG NRG Energy Inc. | Add +47.0% | 0.28% | +0.08 |
| OC Owens Corning | Add +367.0% | 0.11% | +0.08 |
| FTI Technipfmc PLC | Add +38.6% | 0.22% | +0.08 |
| TXT Textron Inc. | Add +50.3% | 0.20% | +0.07 |
| APP AppLovin Corp. Class A | Add +66.9% | 0.20% | +0.07 |
| BNY Bank of New York Mellon Corp. | Add +28.1% | 0.27% | +0.07 |
| UTHR United Therapeutics Corp. | Add +120.6% | 0.11% | +0.07 |
| SAN Banco Santander SA-Spon ADR | Add +7.7% | 0.43% | +0.07 |
| OXY Occidental Petroleum Corp. | Add +428.8% | 0.09% | +0.07 |
| NWG Natwest Group PLC -Spon ADR | Add +0.1% | 0.37% | +0.07 |
| SPGI S&P Global Inc. | Add +27.9% | 0.23% | +0.06 |
| D Dominion Energy Inc. | Add +208.3% | 0.09% | +0.06 |
| CRH CRH PLC | Add +18.5% | 0.32% | +0.06 |
| GLW Corning Inc. | Add +129.3% | 0.09% | +0.05 |
| V Visa Inc. Class A | Add +6.1% | 0.76% | +0.05 |
| DXCM Dexcom Inc. | Add +74.1% | 0.12% | +0.05 |
| CFG Citizens Financial Group | Add +10.8% | 0.29% | +0.05 |
| FOXF Fox Factory Holding Corp. | Add +3173.3% | 0.05% | +0.05 |
| FCNCA First Citizens Bcshs Class A | Add +20.7% | 0.15% | +0.04 |
| FERG Ferguson Enterprises Inc. | New | 0.04% | +0.04 |
| GEN Gen Digital Inc. | Add +31.6% | 0.22% | +0.04 |
| WD Walker & Dunlop Inc. | Add +982.7% | 0.04% | +0.04 |
| ZTO Zto Express Cayman Inc.-ADR | Add +20.3% | 0.17% | +0.04 |
| GFI Gold Fields Ltd.-Spons ADR | New | 0.04% | +0.04 |
| ZTS Zoetis Inc. | Add +127.2% | 0.08% | +0.04 |
| MDT Medtronic PLC | Add +9.5% | 0.43% | +0.04 |
| CVNA Carvana Co. | New | 0.03% | +0.03 |
| AIG American International Group | Add +9.3% | 0.22% | +0.03 |
| SYF Synchrony Financial | Add +0.5% | 0.24% | +0.03 |
| TTE Totalenergies SE | Add +1.4% | 0.36% | +0.03 |
| SSRM SSR Mining Inc. | New | 0.03% | +0.03 |
| BURL Burlington Stores Inc. | Add +11.2% | 0.15% | +0.03 |
| IFF Intl Flavors & Fragrances | Add +23.1% | 0.12% | +0.03 |
| NKE Nike Inc. Class B | Add +42.2% | 0.13% | +0.03 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,678 | $14.7B | NVDA, AAPL, GOOGL, MSFT, AMZN |
| Q1 2026 | 1,674 | $12.9B | NVDA, AAPL, MSFT, GOOGL, AMZN |
| Q4 2025 | 1,679 | $13.3B | NVDA, MSFT, AAPL, AMZN, GOOGL |
| Q3 2025 | 1,674 | $13.2B | NVDA, MSFT, AAPL, AMZN, GOOGL |
| Q2 2025 | 1,668 | $12.3B | NVDA, MSFT, AAPL, AMZN, META |
| Q1 2025 | 1,671 | $11.1B | AAPL, MSFT, NVDA, AMZN, META |
| Q4 2024 | 1,670 | $11.4B | NVDA, MSFT, AAPL, AMZN, GOOGL |
| Q3 2024 | 1,673 | $11.5B | MSFT, NVDA, AAPL, AMZN, META |
| Q2 2024 | 1,679 | $11.1B | MSFT, NVDA, AAPL, AMZN, GOOGL |
| Q1 2024 | 1,682 | $11.2B | MSFT, NVDA, AMZN, AAPL, META |