TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY

FRANKFORT, KY · CIK 714142 · 13F filing filed 2023-02-22

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

Legal entityTeachers' Retirement System of the State of Kentucky (US)

$9.5bn reported value +11.6% vs Q3 2022

1,740positions

15.9%in top 10

71 new 389 added 308 reduced 45 sold out vs Q3 2022

This report includes the holdings of 24 other managers that share the investment decisions:

BAILLIE GIFFORD US EQ GROWTH STR – no 13F of its own this quarter
INTERNAL MGMT J.L. LOSEY SCHOLAR – no 13F of its own this quarter
INTERNAL MGMT S&P 400 INDEX – no 13F of its own this quarter
INTERNAL MGMT S&P 500 INDEX – no 13F of its own this quarter
INTERNAL MGMT S&P 600 INDEX – no 13F of its own this quarter
LIFE BAILLIE GIFFORD US EQ GROWTH – no 13F of its own this quarter
LIFE IN-HOUSE HIGH YIELD – no 13F of its own this quarter
LIFE S&P 400 STOCK INDEX – no 13F of its own this quarter

16 more

LIFE S&P 500 STOCK INDEX – no 13F of its own this quarter
LIFE S&P 600 STOCK INDEX – no 13F of its own this quarter
MED BAILLIE GIFFORD US EQ GROWTH – no 13F of its own this quarter
MED IN-HOUSE HIGH YIELD – no 13F of its own this quarter
MED S&P 400 STOCK INDEX – no 13F of its own this quarter
MED S&P 500 STOCK INDEX – no 13F of its own this quarter
MED S&P 600 STOCK INDEX – no 13F of its own this quarter
STATE STREET US PREMIER GROWTH – no 13F of its own this quarter
TODD ASSET MGMT ADV LARGE CAP – no 13F of its own this quarter
TODD ASSET MGMT APHA – no 13F of its own this quarter
TODD ASSET MGMT INTL – no 13F of its own this quarter
TODD ASSET MGMT INTR OPP – no 13F of its own this quarter
UBS GLOBAL ASSET MGMT MID CAP – no 13F of its own this quarter
WELLINGTON MGMT LARGE CAP – no 13F of its own this quarter
WELLINGTON MGMT MID CAP – no 13F of its own this quarter
WELLINGTON MGMT SMALL CAP – no 13F of its own this quarter

Shares in two reports are counted once in each security's totals.

Holdings, Q4 2022

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	MICROSOFT CORP COM MSFT	MSFT	1,443,963	$346.3m3.64%	3.64%	Added +3.0k	+3,000 0.2%
2	APPLE INC COM AAPL	AAPL	2,372,734	$308.3m3.24%	3.24%	Reduced -35.0k	-35,000 -1.4%
3	AMAZON COM INC COM AMZN	AMZN	2,035,878	$171.0m1.80%	1.80%	Added +62.0k	+61,973 3.1%
4	UNITEDHEALTH GROUP INC COM UNH	UNH	301,557	$159.9m1.68%	1.68%	Reduced -500	-500 -0.2%
5	ALPHABET INC CAP STK CL A GOOGL	GOOGL	1,202,227	$106.1m1.11%	1.11%	Reduced -219.0k	-219,000 -15.4%
6	ABBVIE INC COM ABBV	ABBV	576,815	$93.2m0.98%	0.98%	Unchanged
7	ALPHABET INC CAP STK CL C GOOG	GOOG	998,293	$88.6m0.93%	0.93%	Unchanged
8	CHEVRON CORP NEW COM CVX	CVX	451,121	$81.0m0.85%	0.85%	Reduced -4.4k	-4,400 -1.0%
9	VISA INC COM CL A V	V	389,625	$80.9m0.85%	0.85%	Reduced -2.0k	-2,000 -0.5%
10	QUALCOMM INC COM QCOM	QCOM	719,187	$79.1m0.83%	0.83%	Added +12.7k	+12,700 1.8%
11	CONOCOPHILLIPS COM COP	COP	592,848	$70.0m0.73%	0.73%	Reduced -31.1k	-31,140 -5.0%
12	HOME DEPOT INC COM HD	HD	217,701	$68.8m0.72%	0.72%	Added +63.9k	+63,900 41.5%
13	MASTERCARD INCORPORATED CL A MA	MA	196,967	$68.5m0.72%	0.72%	Reduced -11.1k	-11,100 -5.3%
14	NVIDIA CORPORATION COM NVDA	NVDA	423,069	$61.8m0.65%	0.65%	Reduced -5.9k	-5,882 -1.4%
15	ON SEMICONDUCTOR CORP COM ON	ON	973,711	$60.7m0.64%	0.64%	Reduced -98.4k	-98,400 -9.2%
16	UNITED RENTALS INC COM URI	URI	168,157	$59.8m0.63%	0.63%	Reduced -200	-200 -0.1%
17	AMERIPRISE FINL INC COM AMP	AMP	182,167	$56.7m0.60%	0.60%	Unchanged
18	ELEVANCE HEALTH INC COM ELV	ELV	110,245	$56.6m0.59%	0.59%	Added +1.0k	+1,000 0.9%
19	AUTOZONE INC COM AZO	AZO	22,774	$56.2m0.59%	0.59%	Reduced -1.5k	-1,500 -6.2%
20	ELI LILLY & CO COM LLY	LLY	151,126	$55.3m0.58%	0.58%	Reduced -4.0k	-3,954 -2.5%
21	JPMORGAN CHASE & CO COM JPM	JPM	411,843	$55.2m0.58%	0.58%	Unchanged
22	RTX CORPORATION COM RTX	RTX	535,200	$54.0m0.57%	0.57%	Added +78.0k	+78,000 17.1%
23	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	171,739	$53.0m0.56%	0.56%	Unchanged
24	BANK AMERICA CORP COM BAC	BAC	1,590,323	$52.7m0.55%	0.55%	Unchanged
25	MORGAN STANLEY COM NEW MS	MS	612,883	$52.1m0.55%	0.55%	Unchanged
26	EQUINOR ASA SPONSORED ADR EQNR	EQNR	1,434,760	$51.4m0.54%	0.54%	Added +62.0k	+62,000 4.5%
27	PROCTER AND GAMBLE CO COM PG	PG	336,167	$51.0m0.54%	0.54%	Unchanged
28	TOTALENERGIES SE SPONSORED ADS SPONSORED ADS		818,870	$50.8m0.53%	0.53%	Reduced -104.0k	-104,000 -11.3%
29	BROADCOM INC COM AVGO	AVGO	90,682	$50.7m0.53%	0.53%	Unchanged
30	SHELL PLC SPON ADS SHEL	SHEL	879,870	$50.1m0.53%	0.53%	Unchanged
31	TESLA INC COM TSLA	TSLA	400,760	$49.4m0.52%	0.52%	Reduced -14.3k	-14,336 -3.5%
32	COSTCO WHSL CORP NEW COM COST	COST	105,999	$48.4m0.51%	0.51%	Added +33.3k	+33,271 45.8%
33	TAPESTRY INC COM TPR	TPR	1,241,186	$47.3m0.50%	0.50%	Added +57.4k	+57,400 4.8%
34	WILLIAMS COS INC COM WMB	WMB	1,402,509	$46.1m0.48%	0.48%	Added +21.0k	+21,000 1.5%
35	HESS CORP COM HES	HES	316,220	$44.8m0.47%	0.47%	Reduced -19.2k	-19,200 -5.7%
36	JOHNSON & JOHNSON COM JNJ	JNJ	250,104	$44.2m0.46%	0.46%	Unchanged
37	LOWES COS INC COM LOW	LOW	220,460	$43.9m0.46%	0.46%	Added +9.6k	+9,600 4.5%
38	NETFLIX INC COM NFLX	NFLX	148,627	$43.8m0.46%	0.46%	Added +6.0k	+6,000 4.2%
39	EXXON MOBIL CORP COM XOM	XOM	397,207	$43.8m0.46%	0.46%	Unchanged
40	SALESFORCE INC COM CRM	CRM	328,360	$43.5m0.46%	0.46%	Reduced -2.4k	-2,372 -0.7%
41	ADVANCED MICRO DEVICES INC COM AMD	AMD	668,875	$43.3m0.45%	0.45%	Added +44.0k	+44,000 7.0%
42	VERTEX PHARMACEUTICALS INC COM VRTX	VRTX	149,187	$43.1m0.45%	0.45%	Reduced -61	-61 -0.0%
43	PFIZER INC COM PFE	PFE	822,024	$42.1m0.44%	0.44%	Unchanged
44	BRISTOL-MYERS SQUIBB CO COM BMY	BMY	581,250	$41.8m0.44%	0.44%	Unchanged
45	RIO TINTO PLC SPONSORED ADR RIO	RIO	586,980	$41.8m0.44%	0.44%	Unchanged
46	AMERICAN EXPRESS CO COM AXP	AXP	274,512	$40.6m0.43%	0.43%	Unchanged
47	PROGRESSIVE CORP COM PGR	PGR	306,516	$39.8m0.42%	0.42%	Reduced -32.0k	-32,000 -9.4%
48	META PLATFORMS INC CL A META	META	322,731	$38.8m0.41%	0.41%	Reduced -32.8k	-32,841 -9.2%
49	AMGEN INC COM AMGN	AMGN	142,191	$37.3m0.39%	0.39%	Unchanged
50	PARKER-HANNIFIN CORP COM PH	PH	127,785	$37.2m0.39%	0.39%	Unchanged
51	SCHWAB CHARLES CORP COM SCHW	SCHW	417,845	$34.8m0.37%	0.37%	Reduced -22.1k	-22,100 -5.0%
52	VALE S A SPONSORED ADS VALE	VALE	2,034,490	$34.5m0.36%	0.36%	Reduced -20.8k	-20,800 -1.0%
53	MONDELEZ INTL INC CL A MDLZ	MDLZ	500,311	$33.3m0.35%	0.35%	Unchanged
54	KLA CORP COM NEW KLAC	KLAC	87,246	$32.9m0.35%	0.35%	Reduced -10.1k	-10,098 -10.4%
55	MARSH & MCLENNAN COS INC COM MRSH	MRSH	196,938	$32.6m0.34%	0.34%	Unchanged
56	CVS HEALTH CORP COM CVS	CVS	345,821	$32.2m0.34%	0.34%	Added +78.0k	+78,000 29.1%
57	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	57,850	$31.9m0.33%	0.33%	Unchanged
58	MONSTER BEVERAGE CORP NEW COM MNST	MNST	312,206	$31.7m0.33%	0.33%	Reduced -14.5k	-14,500 -4.4%
59	PHILIP MORRIS INTL INC COM PM	PM	310,460	$31.4m0.33%	0.33%	Unchanged
60	MODERNA INC COM MRNA	MRNA	174,467	$31.3m0.33%	0.33%	Reduced -112.0k	-111,990 -39.1%
61	IQVIA HLDGS INC COM IQV	IQV	152,267	$31.2m0.33%	0.33%	Reduced -42.0k	-42,000 -21.6%
62	INGERSOLL RAND INC COM IR	IR	568,636	$29.7m0.31%	0.31%	Added +8.0k	+7,954 1.4%
63	AKAMAI TECHNOLOGIES INC COM AKAM	AKAM	345,389	$29.1m0.31%	0.31%	Unchanged
64	NVR INC COM NVR	NVR	6,243	$28.8m0.30%	0.30%	Reduced -1.0k	-1,000 -13.8%
65	MCDONALDS CORP COM MCD	MCD	108,869	$28.7m0.30%	0.30%	Unchanged
66	ALTRIA GROUP INC COM MO	MO	626,960	$28.7m0.30%	0.30%	Unchanged
67	JACOBS SOLUTIONS INC COM J	J	237,286	$28.5m0.30%	0.30%	Unchanged
68	HCA HEALTHCARE INC COM HCA	HCA	116,780	$28.0m0.29%	0.29%	Reduced -6.8k	-6,800 -5.5%
69	ASTRAZENECA PLC SPONSORED ADR SPONSORED ADR		411,309	$27.9m0.29%	0.29%	Added +29.0k	+29,000 7.6%
70	HONEYWELL INTL INC COM COM		128,083	$27.4m0.29%	0.29%	Unchanged
71	WELLS FARGO CO NEW COM WFC	WFC	664,532	$27.4m0.29%	0.29%	Unchanged
72	MARATHON OIL CORP COM MRO	MRO	1,009,355	$27.3m0.29%	0.29%	Added +747.5k	+747,465 285.4%
73	ADOBE INC COM ADBE	ADBE	80,843	$27.2m0.29%	0.29%	Unchanged
74	CITIZENS FINL GROUP INC COM CFG	CFG	686,381	$27.0m0.28%	0.28%	Reduced -1.6k	-1,550 -0.2%
75	AMETEK INC COM AME	AME	193,370	$27.0m0.28%	0.28%	Added +6.4k	+6,369 3.4%
76	ABBOTT LABS COM ABT	ABT	246,026	$27.0m0.28%	0.28%	Added +17.2k	+17,204 7.5%
77	PHILLIPS 66 COM PSX	PSX	256,791	$26.7m0.28%	0.28%	Unchanged
78	MERCK & CO INC COM MRK	MRK	240,851	$26.7m0.28%	0.28%	Unchanged
79	EXPEDITORS INTL WASH INC COM EXPD	EXPD	256,008	$26.6m0.28%	0.28%	Added +201.1k	+201,137 366.6%
80	OREILLY AUTOMOTIVE INC COM ORLY	ORLY	31,282	$26.4m0.28%	0.28%	Reduced -2.7k	-2,700 -8.0%
81	APPLIED MATLS INC COM AMAT	AMAT	268,750	$26.2m0.27%	0.27%	Added +16.2k	+16,200 6.4%
82	DANAHER CORPORATION COM DHR	DHR	97,591	$25.9m0.27%	0.27%	Unchanged
83	LINDE PLC SHS 99952EUR	99952EUR	79,408	$25.9m0.27%	0.27%	Unchanged
84	TEXAS INSTRS INC COM TXN	TXN	155,882	$25.8m0.27%	0.27%	Unchanged
85	NIKE INC CL B NKE	NKE	218,099	$25.5m0.27%	0.27%	Added +15.3k	+15,252 7.5%
86	UBS GROUP AG SHS UBS	UBS	1,361,250	$25.4m0.27%	0.27%	Added +2.4k	+2,400 0.2%
87	JAZZ PHARMACEUTICALS PLC SHS USD JAZZ	JAZZ	156,270	$24.9m0.26%	0.26%	Added +800	+800 0.5%
88	MCKESSON CORP COM MCK	MCK	66,245	$24.9m0.26%	0.26%	Reduced -2.4k	-2,400 -3.5%
89	ALLSTATE CORP COM ALL	ALL	181,694	$24.6m0.26%	0.26%	Unchanged
90	NUCOR CORP COM NUE	NUE	185,835	$24.5m0.26%	0.26%	Reduced -8.9k	-8,900 -4.6%
91	FIFTH THIRD BANCORP COM FITB	FITB	736,394	$24.2m0.25%	0.25%	Unchanged
92	NXP SEMICONDUCTORS N V COM NXPI	NXPI	152,763	$24.1m0.25%	0.25%	Added +1.2k	+1,200 0.8%
93	FIRST REP BK SAN FRANCISCO C COM FRCB	FRCB	196,523	$24.0m0.25%	0.25%	Added +16.3k	+16,280 9.0%
94	LENNAR CORP CL A LEN	LEN	263,628	$23.9m0.25%	0.25%	Added +239.3k	+239,300 983.6%
95	VERIZON COMMUNICATIONS INC COM VZ	VZ	605,406	$23.9m0.25%	0.25%	Unchanged
96	REPSOL S.A. ADR REPYY	REPYY	1,490,640	$23.7m0.25%	0.25%	Reduced -21.5k	-21,500 -1.4%
97	PEPSICO INC COM PEP	PEP	131,307	$23.7m0.25%	0.25%	Unchanged
98	S&P GLOBAL INC COM SPGI	SPGI	70,822	$23.7m0.25%	0.25%	Reduced -300	-300 -0.4%
99	SERVICENOW INC COM NOW	NOW	61,021	$23.7m0.25%	0.25%	Added +1.7k	+1,700 2.9%
100	EAST WEST BANCORP INC COM EWBC	EWBC	358,879	$23.6m0.25%	0.25%	Unchanged

Sold out since Q3 2022

Security	Ticker	Shares held before	Value then
OPEN TEXT CORP OTEX	OTEX	327,690	$8.7m327.7k shares
U HAUL HOLDING COMPANY UHAL	UHAL	10,642	$5.4m10.6k shares
TWITTER INC TWTR	TWTR	66,165	$2.9m66.2k shares
AEGON N V		664,100	$2.6m664.1k shares
ELANCO ANIMAL HEALTH INC ELAN	ELAN	210,600	$2.6m210.6k shares
ALLEGHANY CORP MD Y	Y	2,238	$1.9m2.2k shares
DUKE REALTY CORP DRE	DRE	36,601	$1.8m36.6k shares
COVETRUS INC CVET	CVET	78,122	$1.6m78.1k shares
BWX TECHNOLOGIES INC BWXT	BWXT	24,247	$1.2m24.2k shares
ALTRA INDL MOTION CORP AIMC	AIMC	35,361	$1.2m35.4k shares
ONEMAIN HLDGS INC OMF	OMF	39,509	$1.2m39.5k shares
CITRIX SYS INC CTXS	CTXS	11,124	$1.2m11.1k shares
RAPID7 INC RPD	RPD	24,120	$1.0m24.1k shares
COMPASS DIVERSIFIED CODI	CODI	50,454	$911.0k50.5k shares
NIELSEN HLDGS PLC NLSN	NLSN	32,724	$907.0k32.7k shares
PELOTON INTERACTIVE INC PTON	PTON	124,757	$865.0k124.8k shares
IOVANCE BIOTHERAPEUTICS INC IOVA	IOVA	85,655	$821.0k85.7k shares
VARONIS SYS INC VRNS	VRNS	30,425	$807.0k30.4k shares
MYOVANT SCIENCES LTD MYOV	MYOV	44,875	$806.0k44.9k shares
TELADOC HEALTH INC TDOC	TDOC	29,870	$756.0k29.9k shares
STOKE THERAPEUTICS INC STOK	STOK	42,598	$547.0k42.6k shares
FLAGSTAR BANCORP INC FBC	FBC	14,263	$476.0k14.3k shares
XPERI HOLDING CORP		32,082	$454.0k32.1k shares
NANOSTRING TECHNOLOGIES INC NSTG	NSTG	25,893	$331.0k25.9k shares
TWO HBRS INVT CORP		94,424	$314.0k94.4k shares