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TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY

479 VARSAILLES ROAD, FRANKFORT, KY 40601 • 5025732057

Q3 2025 · Filed 2025-11-12
Market Value
$13.0B
+6.4%
Holdings
1,685
+20
New Purchases
46
Added To
172
Closed
44
Reduced
625
Top 10 Concentration
26.0%
Turnover
5.3%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
NVDA 5.29% 4.64% +0.65% $689M
GOOGL 2.32% 1.81% +0.51% $301M
AAPL 3.84% 3.34% +0.50% $500M
CSCO 0.41% 0.18% +0.24% $54M
TSLA 1.00% 0.77% +0.23% $131M
LEN 0.27% 0.06% +0.21% $35M
CBRE 0.23% 0.03% +0.20% $30M
DVA 0.17% 0.00% +0.17% $22M
PAYC 0.17% 0.01% +0.16% $22M
GOOG 0.98% 0.83% +0.16% $128M
AMD 0.41% 0.26% +0.15% $53M
MDT 0.40% 0.25% +0.15% $52M
FTI 0.14% 0.00% +0.14% $18M
ORCL 0.73% 0.59% +0.14% $95M
SNN 0.13% 0.00% +0.13% $17M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
NFLX 0.72% 1.15% -0.43% $93M
META 2.13% 2.47% -0.34% $277M
APO 0.24% 0.53% -0.28% $31M
FI 0.19% 0.44% -0.24% $25M
OKE 0.19% 0.39% -0.20% $24M
JBL 0.44% 0.63% -0.20% $57M
SKX 0.00% 0.18% -0.18% $0
AMZN 2.88% 3.05% -0.18% $374M
NRG 0.20% 0.36% -0.16% $26M
CRM 0.23% 0.38% -0.15% $31M
CB 0.38% 0.53% -0.14% $50M
BKNG 0.49% 0.63% -0.14% $64M
RCL 0.23% 0.37% -0.13% $30M
VRTX 0.13% 0.25% -0.12% $17M
PG 0.22% 0.34% -0.12% $28M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Technology 27.3%
Financial Services 15.5%
Healthcare 11.6%
Consumer Cyclical 11.0%
Industrials 9.6%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 62 $5.7B 43.9%
Large Cap 649 $5.9B 45.6%
Mid Cap 669 $1.2B 9.5%
Small Cap 293 $130M 1.0%
Micro Cap 12 $2M 0.0%

Portfolio Analytics

Avg Market Cap
$51.2B
Median Market Cap
$7.1B
Avg P/E
32.3
Median P/E
21.6
Avg Dividend Yield
0.02%
Avg Beta
1.05
# Stocks
1,679
# ETFs / Funds
6

Top Holdings (1,685 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 NVDA 5.29% 3,690,665 $689M $186.58 $120M +94,534 +2.6%
2 MSFT 4.43% 1,112,642 $576M $517.95 $27M +7,457 +0.7%
3 AAPL 3.84% 1,964,769 $500M $254.63 $92M -26,692 -1.3%
4 AMZN 2.88% 1,705,201 $374M $219.57 $1M +3,776 +0.2%
5 GOOGL 2.32% 1,239,983 $301M $243.10 $80M -14,203 -1.1%
6 META 2.13% 377,840 $277M $734.38 -$25M -31,976 -7.8%
7 AVGO 2.02% 798,013 $263M $329.91 $9M -125,791 -13.6%
8 JPM 1.09% 451,760 $142M $315.43 $10M -5,581 -1.2%
9 TSLA 1.00% 293,596 $131M $444.72 $36M -3,213 -1.1%
10 GOOG 0.98% 525,771 $128M $243.55 $27M -44,900 -7.9%
11 LLY 0.97% 165,165 $126M $763.01 $2M +5,595 +3.5%
12 ORCL 0.73% 337,428 $95M $281.24 $22M +5,592 +1.7%
13 NFLX 0.72% 77,799 $93M $1,198.92 -$48M -27,405 -26.1%
14 V 0.71% 271,620 $93M $341.39 -$5M -4,568 -1.6%
15 QCOM 0.57% 443,903 $74M $166.36 $394K -17,330 -3.8%
16 BRK-B 0.56% 143,766 $72M $502.74 $2M
17 MA 0.55% 125,571 $71M $568.82 -$471K -2,375 -1.9%
18 WFC 0.55% 846,850 $71M $83.82 -$3M -78,129 -8.4%
19 GILD 0.53% 627,102 $70M $111.00 -$2M -18,145 -2.8%
20 PH 0.51% 87,144 $66M $758.15 $319K -6,988 -7.4%
21 ABBV 0.50% 278,591 $65M $231.54 $13M
22 WMT 0.49% 623,431 $64M $103.06 $4M +9,725 +1.6%
23 BKNG 0.49% 11,796 $64M $5,399.29 -$13M -1,420 -10.7%
24 T 0.45% 2,085,510 $59M $28.24 -$4M -76,690 -3.5%
25 KLAC 0.45% 54,252 $59M $1,078.60 $11M +1,590 +3.0%
26 BAC 0.44% 1,119,219 $58M $51.59 -$9M -283,012 -20.2%
27 URI 0.44% 60,104 $57M $954.66 $9M -4,603 -7.1%
28 JBL 0.44% 263,124 $57M $217.17 -$20M -92,780 -26.1%
29 KR 0.43% 833,489 $56M $67.41 -$882K +37,910 +4.8%
30 AXP 0.43% 166,874 $55M $332.16 $2M -2,063 -1.2%
31 MS 0.42% 341,029 $54M $158.96 $6M
32 TMUS 0.41% 225,359 $54M $239.38 $783K +2,230 +1.0%
33 HD 0.41% 133,023 $54M $405.19 $4M -2,535 -1.9%
34 CSCO 0.41% 784,906 $54M $68.42 $32M +472,000 +150.8%
35 AMD 0.41% 329,477 $53M $161.79 $21M +104,300 +46.3%
36 TEVA 0.41% 2,611,600 $53M $20.20 $11M +106,600 +4.3%
37 XOM 0.40% 460,435 $52M $112.75 $2M -3,000 -0.7%
38 MDT 0.40% 544,959 $52M $95.24 $21M +189,600 +53.4%
39 CB 0.38% 177,558 $50M $282.25 -$15M -45,900 -20.5%
40 MAS 0.37% 690,757 $49M $70.39 $4M -2,210 -0.3%
41 ADBE 0.37% 137,427 $48M $352.75 -$8M -7,820 -5.4%
42 PGR 0.37% 194,650 $48M $246.95 -$12M -28,745 -12.9%
43 SAN 0.36% 4,512,360 $47M $10.48 $9M -153,800 -3.3%
44 IBM 0.36% 164,726 $46M $282.15 -$2M
45 ING 0.36% 1,778,550 $46M $26.08 $8M +10,300 +0.6%
46 BCS 0.36% 2,239,040 $46M $20.67 $7M +129,700 +6.2%
47 NOW 0.36% 50,246 $46M $920.27 -$6M -808 -1.6%
48 RIO 0.35% 697,770 $46M $66.01 $7M +26,400 +3.9%
49 GS 0.35% 57,141 $46M $796.36 $6M +1,837 +3.3%
50 PM 0.35% 280,113 $45M $162.20 -$6M
51 SHEL 0.34% 619,690 $44M $71.53 -$9M -142,500 -18.7%
52 CMI 0.33% 103,255 $44M $422.37 $10M
53 MO 0.33% 657,035 $43M $66.06 $5M
54 COST 0.33% 46,745 $43M $925.62 -$3M
55 TTE 0.33% 723,580 $43M $59.69 -$3M -36,800 -4.8%
56 UNH 0.32% 122,360 $42M $345.30 $7M +8,400 +7.4%
57 DASH 0.32% 155,092 $42M $271.99 $970K -12,100 -7.2%
58 ABT 0.32% 311,011 $42M $133.94 -$480K +1,204 +0.4%
59 HCA 0.31% 96,035 $41M $426.20 $4M
60 DELL 0.31% 288,230 $41M $141.77 $6M
61 MUFG 0.31% 2,506,310 $40M $15.94 $6M -3,400 -0.1%
62 AER 0.30% 327,670 $40M $121.00 $2M +5,400 +1.7%
63 SHOP 0.30% 263,454 $39M $148.61 $8M -5,300 -2.0%
64 NXPI 0.30% 171,270 $39M $227.72 -$758K -10,700 -5.9%
65 AZO 0.30% 8,956 $38M $4,290.20 -$8M -3,534 -28.3%
66 GE 0.29% 126,973 $38M $300.82 $5M -993 -0.8%
67 SPY 0.29% 56,594 $38M $666.18 $3M
68 BABA 0.29% 208,580 $37M $178.73 $12M -18,030 -8.0%
69 MCK 0.28% 47,329 $37M $772.55 $2M
70 TSM 0.28% 129,780 $36M $279.30 $9M +10,000 +8.3%
71 NET 0.28% 167,939 $36M $214.59 -$9M -59,877 -26.3%
72 AMGN 0.27% 126,248 $36M $282.20 $378K
73 NVS 0.27% 274,950 $35M $128.24 $5M +21,100 +8.3%
74 JNJ 0.27% 189,024 $35M $185.42 $6M
75 CRH.L 0.27% 291,840 $35M $119.90 $5M -33,400 -10.3%
76 LEN 0.27% 274,173 $35M $126.04 $27M +208,800 +319.4%
77 UBER 0.26% 351,836 $34M $97.97 $2M +278 +0.1%
78 AMP 0.26% 70,151 $34M $491.25 -$3M
79 VZ 0.26% 784,086 $34M $43.95 $533K
80 AMAT 0.26% 167,950 $34M $204.74 $3M -1,721 -1.0%
81 VIPS 0.26% 1,732,920 $34M $19.64 $15M +465,800 +36.8%
82 FITB 0.26% 753,552 $34M $44.55 $3M
83 GM 0.26% 550,244 $34M $60.97 $3M -62,590 -10.2%
84 TPR 0.25% 290,399 $33M $113.22 -$1M -96,000 -24.8%
85 DKS 0.25% 145,382 $32M $222.21 $4M
86 NTES 0.25% 210,900 $32M $151.99 $6M +16,200 +8.3%
87 J 0.24% 212,406 $32M $149.86 $4M
88 COF 0.24% 149,321 $32M $212.58 -$7M -34,700 -18.9%
89 APO 0.24% 236,107 $31M $133.27 -$33M -217,140 -47.9%
90 DIS 0.24% 274,743 $31M $114.50 $165K +22,400 +8.9%
91 CFG 0.24% 591,634 $31M $53.16 $7M +43,000 +7.8%
92 BWA 0.24% 714,426 $31M $43.96 $7M -982 -0.1%
93 EXPE 0.24% 146,572 $31M $213.74 $4M -14,590 -9.1%
94 BTI 0.24% 589,730 $31M $53.08 $1M -41,500 -6.6%
95 MU 0.24% 185,653 $31M $167.32 $6M -20,300 -9.9%
96 PSX 0.24% 227,221 $31M $136.02 $3M -8,520 -3.6%
97 UAL 0.24% 319,093 $31M $96.50 -$2M -88,400 -21.7%
98 CRM 0.23% 129,001 $31M $237.01 -$16M -43,618 -25.3%
99 INCY 0.23% 355,840 $30M $84.81 $1M -68,700 -16.2%
100 RCL 0.23% 93,122 $30M $323.58 -$15M -49,600 -34.8%

New Positions

SymbolValue% Port
FTI $18M 0.14%
SNN $17M 0.13%
NTNX $6M 0.05%
TLN $5M 0.04%
TRU $5M 0.04%
DB $5M 0.04%
TWLO $5M 0.04%
HOOD $4M 0.03%
FIG $2M 0.02%
TPB $2M 0.02%
ELAN $2M 0.02%
FIBK $2M 0.02%
BE $2M 0.02%
HL $2M 0.01%
VNOM $1M 0.01%

Sold Out Positions

SymbolValue% Port
DDD —%
BGS —%
PAR —%
PUMP —%
DIN —%
DBI —%
ACVA —%
SSB —%
FLGT —%
MRVL —%
MLAB —%
IRWD —%
EGHT —%
JACK —%
SSP —%
View SEC EDGAR Filings for TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms