TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY

FRANKFORT, KY · CIK 714142 · 13F filing filed 2023-08-21

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)

$10.3bn reported value +3.4% vs Q1 2023

1,726positions

20.7%in top 10

40 new 1,029 added 536 reduced 62 sold out vs Q1 2023

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 INDEX – no 13F of its own this quarter
LEFE S&P 600 STOCK 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 BOND – no 13F of its own this quarter

16 more

LIFE S&P 400 STOCK INDEX – no 13F of its own this quarter
LIFE S&P 500 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 BOND – 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 INTERNATL INTRINSIC VALUE – no 13F of its own this quarter
TODD INTL INTRINSIC VALUE OPPORTUNITY – no 13F of its own this quarter
TODD INTRINSIC VALUE OPPORTUNITY – no 13F of its own this quarter
TODD LARGE CAP INTRINSIC VALUE – no 13F of its own this quarter
UBS VALUE ORIENTED – no 13F of its own this quarter
WELLINGTON LARGE CAP EQUITY – no 13F of its own this quarter
WELLINGTON MID CAP EQUITY – no 13F of its own this quarter
WELLINGTON SMALL CAP EQUITY – no 13F of its own this quarter

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

Holdings, Q2 2023

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	1,400,784	$477.0m4.61%	4.61%	Reduced -45.7k	-45,679 -3.2%
2	APPLE INC COM AAPL	AAPL	2,199,532	$426.6m4.12%	4.12%	Reduced -90.9k	-90,942 -4.0%
3	AMAZON COM INC COM AMZN	AMZN	2,090,189	$272.5m2.63%	2.63%	Added +12.7k	+12,681 0.6%
4	NVIDIA CORPORATION COM NVDA	NVDA	472,659	$199.9m1.93%	1.93%	Added +44.5k	+44,472 10.4%
5	ALPHABET INC CAP STK CL A GOOGL	GOOGL	1,426,104	$170.7m1.65%	1.65%	Added +10.3k	+10,306 0.7%
6	UNITEDHEALTH GROUP INC COM UNH	UNH	318,068	$152.9m1.48%	1.48%	Added +2.8k	+2,811 0.9%
7	TESLA INC COM TSLA	TSLA	463,023	$121.2m1.17%	1.17%	Added +50.3k	+50,345 12.2%
8	ALPHABET INC CAP STK CL C GOOG	GOOG	935,439	$113.2m1.09%	1.09%	Reduced -70.5k	-70,537 -7.0%
9	META PLATFORMS INC CL A META	META	391,805	$112.4m1.09%	1.09%	Added +27.6k	+27,619 7.6%
10	VISA INC COM CL A V	V	396,520	$94.2m0.91%	0.91%	Added +6.9k	+6,895 1.8%
11	QUALCOMM INC COM QCOM	QCOM	709,731	$84.5m0.82%	0.82%	Reduced -12.6k	-12,630 -1.8%
12	MERCK & CO INC COM MRK	MRK	727,148	$83.9m0.81%	0.81%	Added +486.3k	+486,297 201.9%
13	BROADCOM INC COM AVGO	AVGO	90,711	$78.7m0.76%	0.76%	Added +29	+29 0.0%
14	MASTERCARD INCORPORATED CL A MA	MA	194,577	$76.5m0.74%	0.74%	Reduced -1.5k	-1,490 -0.8%
15	JPMORGAN CHASE & CO COM JPM	JPM	522,874	$76.0m0.73%	0.73%	Added +111.0k	+111,031 27.0%
16	HOME DEPOT INC COM HD	HD	216,805	$67.3m0.65%	0.65%	Added +1.2k	+1,204 0.6%
17	KLA CORP COM NEW KLAC	KLAC	133,863	$64.9m0.63%	0.63%	Added +11.4k	+11,431 9.3%
18	COSTCO WHSL CORP NEW COM COST	COST	115,629	$62.3m0.60%	0.60%	Added +4.8k	+4,830 4.4%
19	ADVANCED MICRO DEVICES INC COM AMD	AMD	538,009	$61.3m0.59%	0.59%	Reduced -74.8k	-74,822 -12.2%
20	UNITED RENTALS INC COM URI	URI	137,342	$61.2m0.59%	0.59%	Reduced -215	-215 -0.2%
21	ELI LILLY & CO COM LLY	LLY	129,786	$60.9m0.59%	0.59%	Reduced -19.3k	-19,309 -12.9%
22	NETFLIX INC COM NFLX	NFLX	133,895	$59.0m0.57%	0.57%	Reduced -11.5k	-11,532 -7.9%
23	EXXON MOBIL CORP COM XOM	XOM	548,581	$58.8m0.57%	0.57%	Reduced -33.9k	-33,926 -5.8%
24	ABBVIE INC COM ABBV	ABBV	427,145	$57.5m0.56%	0.56%	Reduced -160.7k	-160,670 -27.3%
25	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	162,272	$55.3m0.53%	0.53%	Reduced -9.5k	-9,467 -5.5%
26	CONOCOPHILLIPS COM COP	COP	523,781	$54.3m0.52%	0.52%	Reduced -27.9k	-27,867 -5.0%
27	VERTEX PHARMACEUTICALS INC COM VRTX	VRTX	153,427	$54.0m0.52%	0.52%	Reduced -1.3k	-1,260 -0.8%
28	SCHLUMBERGER LTD COM STK SLB	SLB	1,091,361	$53.6m0.52%	0.52%	Added +276.9k	+276,858 34.0%
29	ON SEMICONDUCTOR CORP COM ON	ON	566,039	$53.5m0.52%	0.52%	Reduced -71.0k	-71,032 -11.2%
30	SALESFORCE INC COM CRM	CRM	252,147	$53.3m0.51%	0.51%	Reduced -31.2k	-31,211 -11.0%
31	SHELL PLC SPON ADS SHEL	SHEL	879,870	$53.1m0.51%	0.51%	Unchanged
32	PARKER-HANNIFIN CORP COM PH	PH	135,808	$53.0m0.51%	0.51%	Added +9.3k	+9,323 7.4%
33	AUTOZONE INC COM AZO	AZO	21,163	$52.8m0.51%	0.51%	Reduced -1.5k	-1,511 -6.7%
34	RTX CORPORATION COM RTX	RTX	531,090	$52.0m0.50%	0.50%	Reduced -4.1k	-4,110 -0.8%
35	ADOBE INC COM ADBE	ADBE	105,557	$51.6m0.50%	0.50%	Added +24.7k	+24,714 30.6%
36	LOWES COS INC COM LOW	LOW	225,073	$50.8m0.49%	0.49%	Reduced -4.2k	-4,187 -1.8%
37	CHEVRON CORP NEW COM CVX	CVX	320,985	$50.5m0.49%	0.49%	Reduced -124.7k	-124,736 -28.0%
38	PROCTER AND GAMBLE CO COM PG	PG	329,340	$50.0m0.48%	0.48%	Reduced -14.3k	-14,251 -4.2%
39	AMERIPRISE FINL INC COM AMP	AMP	149,991	$49.8m0.48%	0.48%	Reduced -576	-576 -0.4%
40	TAPESTRY INC COM TPR	TPR	1,087,826	$46.6m0.45%	0.45%	Reduced -23.3k	-23,260 -2.1%
41	MORGAN STANLEY COM NEW MS	MS	541,786	$46.3m0.45%	0.45%	Reduced -71.1k	-71,097 -11.6%
42	BANK AMERICA CORP COM BAC	BAC	1,553,587	$44.6m0.43%	0.43%	Reduced -36.7k	-36,736 -2.3%
43	TOTALENERGIES SE SPONSORED ADS SPONSORED ADS		751,570	$43.3m0.42%	0.42%	Reduced -3.3k	-3,300 -0.4%
44	AMERICAN EXPRESS CO COM AXP	AXP	239,750	$41.8m0.40%	0.40%	Reduced -7.8k	-7,812 -3.2%
45	NVR INC COM NVR	NVR	6,232	$39.6m0.38%	0.38%	Reduced -592	-592 -8.7%
46	HESS CORP COM HES	HES	290,540	$39.5m0.38%	0.38%	Reduced -3.0k	-2,980 -1.0%
47	JOHNSON & JOHNSON COM JNJ	JNJ	235,652	$39.0m0.38%	0.38%	Reduced -14.5k	-14,452 -5.8%
48	HCA HEALTHCARE INC COM HCA	HCA	127,990	$38.8m0.38%	0.38%	Added +27.5k	+27,510 27.4%
49	CHARTER COMMUNICATIONS INC N CL A CHTR	CHTR	102,234	$37.6m0.36%	0.36%	Added +11.3k	+11,349 12.5%
50	RIO TINTO PLC SPONSORED ADR RIO	RIO	586,980	$37.5m0.36%	0.36%	Unchanged
51	MARSH & MCLENNAN COS INC COM MRSH	MRSH	194,098	$36.5m0.35%	0.35%	Reduced -2.8k	-2,840 -1.4%
52	BRISTOL-MYERS SQUIBB CO COM BMY	BMY	569,729	$36.4m0.35%	0.35%	Reduced -11.5k	-11,521 -2.0%
53	ORACLE CORP COM ORCL	ORCL	303,009	$36.1m0.35%	0.35%	Added +156.2k	+156,167 106.3%
54	INGERSOLL RAND INC COM IR	IR	526,907	$34.4m0.33%	0.33%	Reduced -41.7k	-41,729 -7.3%
55	PHILIP MORRIS INTL INC COM PM	PM	350,565	$34.2m0.33%	0.33%	Added +40.1k	+40,105 12.9%
56	THE TRADE DESK INC COM CL A TTD	TTD	437,973	$33.8m0.33%	0.33%	Unchanged
57	MONDELEZ INTL INC CL A MDLZ	MDLZ	450,326	$32.8m0.32%	0.32%	Added +24.7k	+24,715 5.8%
58	EQUINOR ASA SPONSORED ADR EQNR	EQNR	1,119,060	$32.7m0.32%	0.32%	Added +3.5k	+3,500 0.3%
59	NIKE INC CL B NKE	NKE	293,745	$32.4m0.31%	0.31%	Added +73.7k	+73,716 33.5%
60	APPLIED MATLS INC COM AMAT	AMAT	222,635	$32.2m0.31%	0.31%	Reduced -15.5k	-15,515 -6.5%
61	SHOPIFY INC CL A SUB VTG SHS SHOP	SHOP	498,100	$32.2m0.31%	0.31%	Reduced -52.5k	-52,500 -9.5%
62	MONSTER BEVERAGE CORP NEW COM MNST	MNST	554,952	$31.9m0.31%	0.31%	Reduced -25.1k	-25,086 -4.3%
63	ALTRIA GROUP INC COM MO	MO	702,694	$31.8m0.31%	0.31%	Reduced -10.3k	-10,266 -1.4%
64	ASTRAZENECA PLC SPONSORED ADR SPONSORED ADR		444,309	$31.8m0.31%	0.31%	Reduced -29.1k	-29,100 -6.2%
65	PROGRESSIVE CORP COM PGR	PGR	239,496	$31.7m0.31%	0.31%	Reduced -67.0k	-67,020 -21.9%
66	SERVICENOW INC COM NOW	NOW	56,238	$31.6m0.31%	0.31%	Reduced -4.8k	-4,783 -7.8%
67	DELL TECHNOLOGIES INC CL C DELL	DELL	583,500	$31.6m0.31%	0.31%	Unchanged
68	MCDONALDS CORP COM MCD	MCD	105,433	$31.5m0.30%	0.30%	Reduced -4.0k	-3,975 -3.6%
69	AMETEK INC COM AME	AME	191,601	$31.0m0.30%	0.30%	Added +2.4k	+2,371 1.2%
70	AMGEN INC COM AMGN	AMGN	139,383	$30.9m0.30%	0.30%	Reduced -2.8k	-2,808 -2.0%
71	EXPEDITORS INTL WASH INC COM EXPD	EXPD	246,073	$29.8m0.29%	0.29%	Added +3.4k	+3,365 1.4%
72	MCKESSON CORP COM MCK	MCK	68,891	$29.4m0.28%	0.28%	Added +2.1k	+2,146 3.2%
73	LINDE PLC SHS LIN	LIN	76,467	$29.1m0.28%	0.28%	Reduced -2.9k	-2,941 -3.7%
74	PFIZER INC COM PFE	PFE	793,546	$29.1m0.28%	0.28%	Reduced -28.5k	-28,478 -3.5%
75	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	216,281	$28.9m0.28%	0.28%	Added +24.5k	+24,463 12.8%
76	ABBOTT LABS COM ABT	ABT	261,072	$28.5m0.28%	0.28%	Added +1.5k	+1,490 0.6%
77	CUMMINS INC COM CMI	CMI	115,721	$28.4m0.27%	0.27%	Added +16.7k	+16,656 16.8%
78	OREILLY AUTOMOTIVE INC COM ORLY	ORLY	29,536	$28.2m0.27%	0.27%	Added +254	+254 0.9%
79	JACOBS SOLUTIONS INC COM J	J	237,134	$28.2m0.27%	0.27%	Reduced -152	-152 -0.1%
80	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	53,926	$28.1m0.27%	0.27%	Reduced -3.9k	-3,924 -6.8%
81	COMCAST CORP NEW CL A CMCSA	CMCSA	674,549	$28.0m0.27%	0.27%	Reduced -36.7k	-36,659 -5.2%
82	S&P GLOBAL INC COM SPGI	SPGI	69,468	$27.8m0.27%	0.27%	Reduced -554	-554 -0.8%
83	IQVIA HLDGS INC COM IQV	IQV	123,199	$27.7m0.27%	0.27%	Reduced -13.9k	-13,868 -10.1%
84	WELLS FARGO CO NEW COM WFC	WFC	646,440	$27.6m0.27%	0.27%	Reduced -18.1k	-18,092 -2.7%
85	GILEAD SCIENCES INC COM GILD	GILD	357,551	$27.6m0.27%	0.27%	Added +238.3k	+238,328 199.9%
86	VALE S A SPONSORED ADS VALE	VALE	2,035,190	$27.3m0.26%	0.26%	Added +22.0k	+22,000 1.1%
87	ELEVANCE HEALTH INC COM ELV	ELV	61,388	$27.3m0.26%	0.26%	Reduced -10.3k	-10,307 -14.4%
88	NXP SEMICONDUCTORS N V COM NXPI	NXPI	133,171	$27.3m0.26%	0.26%	Reduced -1.6k	-1,592 -1.2%
89	CAPITAL ONE FINL CORP COM COF	COF	245,401	$26.8m0.26%	0.26%	Added +4.7k	+4,732 2.0%
90	EATON CORP PLC SHS ETN	ETN	131,664	$26.5m0.26%	0.26%	Added +68.7k	+68,666 109.0%
91	UNIVERSAL HLTH SVCS INC CL B UHS	UHS	165,919	$26.2m0.25%	0.25%	Added +159.1k	+159,058 2318.3%
92	MARATHON OIL CORP COM MRO	MRO	1,126,376	$25.9m0.25%	0.25%	Added +52.4k	+52,432 4.9%
93	NETAPP INC COM NTAP	NTAP	338,823	$25.9m0.25%	0.25%	Reduced -87.4k	-87,421 -20.5%
94	JABIL INC COM JBL	JBL	238,358	$25.7m0.25%	0.25%	Added +13.3k	+13,266 5.9%
95	NUCOR CORP COM NUE	NUE	155,061	$25.4m0.25%	0.25%	Reduced -14.1k	-14,074 -8.3%
96	PROLOGIS INC. COM PLD	PLD	205,173	$25.2m0.24%	0.24%	Reduced -4.7k	-4,682 -2.2%
97	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	56,711	$25.1m0.24%	0.24%	Unchanged
98	TEXAS INSTRS INC COM TXN	TXN	139,103	$25.0m0.24%	0.24%	Reduced -16.8k	-16,779 -10.8%
99	SYNCHRONY FINANCIAL COM SYF	SYF	737,503	$25.0m0.24%	0.24%	Added +97.5k	+97,505 15.2%
100	PHILLIPS 66 COM PSX	PSX	253,279	$24.2m0.23%	0.23%	Reduced -3.5k	-3,512 -1.4%

Sold out since Q1 2023

Security	Ticker	Shares held before	Value then
ITOCHU Corp ITOCY	ITOCY	288,470	$18.8m288.5k shares
DBS Group Holdings Ltd DBSDY	DBSDY	187,380	$18.6m187.4k shares
Komatsu Ltd KMTUY	KMTUY	737,260	$18.3m737.3k shares
CAPGEMINI SE CGEMY	CGEMY	487,830	$18.1m487.8k shares
AXA SA AXAHY	AXAHY	557,090	$17.0m557.1k shares
Tokyo Electron Ltd		190,510	$17.0m190.5k shares
Koninklijke Ahold Delhaize NV ADRNY	ADRNY	489,770	$16.7m489.8k shares
BNP PARIBAS ADR BNPQY	BNPQY	550,470	$16.4m550.5k shares
Naspers Ltd NPSNY	NPSNY	425,090	$15.6m425.1k shares
LVMH Moet Hennessy Louis Vuitt LVMUY	LVMUY	80,900	$14.9m80.9k shares
SPIRIT AEROSYSTEMS HLDGS INC SPR	SPR	400,363	$13.8m400.4k shares
Ashtead Group PLC ASHTY	ASHTY	53,560	$13.1m53.6k shares
Fujitsu Ltd FJTSY	FJTSY	463,570	$12.5m463.6k shares
STANDARD BANK GROUP LTD SGBLY	SGBLY	1,220,040	$11.8m1.2m shares
BAE SYSTEMS PLC BAESY	BAESY	219,000	$10.8m219.0k shares
COMPAGNIE DE ST GOBAIN UNSPONSORD ADR CODYY	CODYY	950,080	$10.8m950.1k shares
PING AN INS GROUP CO CHINA LTD PNGAY	PNGAY	660,220	$8.5m660.2k shares
VMWARE INC VMW	VMW	63,152	$7.9m63.2k shares
SHIONOGI & CO LTD UNSPONSORED ADS SGIOY	SGIOY	602,860	$6.8m602.9k shares
ANGLO AMERICAN PLC ADR		361,880	$6.0m361.9k shares
BASF SE SPONSORED ADR BASFY	BASFY	394,610	$5.2m394.6k shares
GLENCORE PLC GLNCY	GLNCY	381,000	$4.4m381.0k shares
DAIWA HOUSE INDUSTRY CO LTD ADR DWAHY	DWAHY	172,650	$4.1m172.7k shares
CARREFOUR SA CRRFY	CRRFY	864,000	$3.5m864.0k shares
Chugai Pharmaceutical Co Ltd CHGCY	CHGCY	252,500	$3.1m252.5k shares