TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY

FRANKFORT, KY · CIK 714142 · 13F filing filed 2023-12-13

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)

$9.9bn reported value -4.6% vs Q2 2023

1,716positions

20.8%in top 10

40 new 464 added 247 reduced 50 sold out vs Q2 2023

This report includes the holdings of 23 other managers that share the investment decisions:

BAILLIE GIFFORD US EQ GROWTH STR – no 13F of its own this quarter
INTERNAL MGMT JL 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&P600 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
LIFE S&P 400 STOCK INDEX – no 13F of its own this quarter

15 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 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 SMALL CAP EQUITY – no 13F of its own this quarter

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

Holdings, Q3 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	1,359,760	$429.3m4.35%	4.35%	Reduced -41.0k	-41,024 -2.9%
2	APPLE INC COM AAPL	AAPL	2,142,283	$366.8m3.72%	3.72%	Reduced -57.2k	-57,249 -2.6%
3	AMAZON COM INC COM AMZN	AMZN	2,042,194	$259.6m2.63%	2.63%	Reduced -48.0k	-47,995 -2.3%
4	NVIDIA CORPORATION COM NVDA	NVDA	477,791	$207.8m2.11%	2.11%	Added +5.1k	+5,132 1.1%
5	ALPHABET INC CAP STK CL A GOOGL	GOOGL	1,388,148	$181.7m1.84%	1.84%	Reduced -38.0k	-37,956 -2.7%
6	UNITEDHEALTH GROUP INC COM UNH	UNH	297,346	$149.9m1.52%	1.52%	Reduced -20.7k	-20,722 -6.5%
7	META PLATFORMS INC CL A META	META	453,111	$136.0m1.38%	1.38%	Added +61.3k	+61,306 15.7%
8	ALPHABET INC CAP STK CL C GOOG	GOOG	897,518	$118.3m1.20%	1.20%	Reduced -37.9k	-37,921 -4.0%
9	TESLA INC COM TSLA	TSLA	458,119	$114.6m1.16%	1.16%	Reduced -4.9k	-4,904 -1.1%
10	BROADCOM INC COM AVGO	AVGO	112,020	$93.0m0.94%	0.94%	Added +21.3k	+21,309 23.5%
11	VISA INC COM CL A V	V	365,099	$84.0m0.85%	0.85%	Reduced -31.4k	-31,421 -7.9%
12	JPMORGAN CHASE & CO COM JPM	JPM	557,874	$80.9m0.82%	0.82%	Added +35.0k	+35,000 6.7%
13	UNITED RENTALS INC COM URI	URI	179,772	$79.9m0.81%	0.81%	Added +42.4k	+42,430 30.9%
14	SCHLUMBERGER LTD COM STK SLB	SLB	1,336,697	$77.9m0.79%	0.79%	Added +245.3k	+245,336 22.5%
15	MERCK & CO INC COM MRK	MRK	720,348	$74.2m0.75%	0.75%	Reduced -6.8k	-6,800 -0.9%
16	MASTERCARD INCORPORATED CL A MA	MA	186,530	$73.8m0.75%	0.75%	Reduced -8.0k	-8,047 -4.1%
17	ELI LILLY & CO COM LLY	LLY	125,174	$67.2m0.68%	0.68%	Reduced -4.6k	-4,612 -3.5%
18	EXXON MOBIL CORP COM XOM	XOM	568,181	$66.8m0.68%	0.68%	Added +19.6k	+19,600 3.6%
19	HOME DEPOT INC COM HD	HD	215,005	$65.0m0.66%	0.66%	Reduced -1.8k	-1,800 -0.8%
20	ABBVIE INC COM ABBV	ABBV	419,803	$62.6m0.63%	0.63%	Reduced -7.3k	-7,342 -1.7%
21	KLA CORP COM NEW KLAC	KLAC	135,063	$61.9m0.63%	0.63%	Added +1.2k	+1,200 0.9%
22	COSTCO WHSL CORP NEW COM COST	COST	108,636	$61.4m0.62%	0.62%	Reduced -7.0k	-6,993 -6.0%
23	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	162,272	$56.8m0.58%	0.58%	Unchanged
24	SHELL PLC SPON ADS SHEL	SHEL	879,870	$56.6m0.57%	0.57%	Unchanged
25	SALESFORCE INC COM CRM	CRM	255,590	$51.8m0.53%	0.53%	Added +3.4k	+3,443 1.4%
26	ON SEMICONDUCTOR CORP COM ON	ON	554,201	$51.5m0.52%	0.52%	Reduced -11.8k	-11,838 -2.1%
27	ADOBE INC COM ADBE	ADBE	100,470	$51.2m0.52%	0.52%	Reduced -5.1k	-5,087 -4.8%
28	QUALCOMM INC COM QCOM	QCOM	457,002	$50.8m0.51%	0.51%	Reduced -252.7k	-252,729 -35.6%
29	AUTOZONE INC COM AZO	AZO	19,863	$50.5m0.51%	0.51%	Reduced -1.3k	-1,300 -6.1%
30	ADVANCED MICRO DEVICES INC COM AMD	AMD	489,507	$50.3m0.51%	0.51%	Reduced -48.5k	-48,502 -9.0%
31	VERTEX PHARMACEUTICALS INC COM VRTX	VRTX	143,748	$50.0m0.51%	0.51%	Reduced -9.7k	-9,679 -6.3%
32	PARKER-HANNIFIN CORP COM PH	PH	125,836	$49.0m0.50%	0.50%	Reduced -10.0k	-9,972 -7.3%
33	AMERIPRISE FINL INC COM AMP	AMP	146,214	$48.2m0.49%	0.49%	Reduced -3.8k	-3,777 -2.5%
34	CHEVRON CORP NEW COM CVX	CVX	285,729	$48.2m0.49%	0.49%	Reduced -35.3k	-35,256 -11.0%
35	PROCTER AND GAMBLE CO COM PG	PG	329,340	$48.0m0.49%	0.49%	Unchanged
36	TOTALENERGIES SE SPONSORED ADS SPONSORED ADS		704,870	$46.4m0.47%	0.47%	Reduced -46.7k	-46,700 -6.2%
37	MORGAN STANLEY COM NEW MS	MS	541,786	$44.2m0.45%	0.45%	Unchanged
38	LOWES COS INC COM LOW	LOW	211,033	$43.9m0.44%	0.44%	Reduced -14.0k	-14,040 -6.2%
39	BANK AMERICA CORP COM BAC	BAC	1,553,587	$42.5m0.43%	0.43%	Unchanged
40	HCA HEALTHCARE INC COM HCA	HCA	172,290	$42.4m0.43%	0.43%	Added +44.3k	+44,300 34.6%
41	CHARTER COMMUNICATIONS INC N CL A CHTR	CHTR	95,974	$42.2m0.43%	0.43%	Reduced -6.3k	-6,260 -6.1%
42	CONOCOPHILLIPS COM COP	COP	343,009	$41.1m0.42%	0.42%	Reduced -180.8k	-180,772 -34.5%
43	NETFLIX INC COM NFLX	NFLX	101,813	$38.4m0.39%	0.39%	Reduced -32.1k	-32,082 -24.0%
44	APA CORPORATION COM APA	APA	927,458	$38.1m0.39%	0.39%	Added +239.7k	+239,662 34.8%
45	AMGEN INC COM AMGN	AMGN	139,383	$37.5m0.38%	0.38%	Unchanged
46	RIO TINTO PLC SPONSORED ADR RIO	RIO	586,980	$37.4m0.38%	0.38%	Unchanged
47	JOHNSON & JOHNSON COM JNJ	JNJ	235,652	$36.7m0.37%	0.37%	Unchanged
48	EQUINOR ASA SPONSORED ADR EQNR	EQNR	1,119,060	$36.7m0.37%	0.37%	Unchanged
49	DELL TECHNOLOGIES INC CL C DELL	DELL	528,500	$36.4m0.37%	0.37%	Reduced -55.0k	-55,000 -9.4%
50	AMERICAN EXPRESS CO COM AXP	AXP	239,750	$35.8m0.36%	0.36%	Unchanged
51	SERVICENOW INC COM NOW	NOW	63,426	$35.5m0.36%	0.36%	Added +7.2k	+7,188 12.8%
52	MARSH & MCLENNAN COS INC COM MRSH	MRSH	181,684	$34.6m0.35%	0.35%	Reduced -12.4k	-12,414 -6.4%
53	THE TRADE DESK INC COM CL A TTD	TTD	435,144	$34.0m0.34%	0.34%	Reduced -2.8k	-2,829 -0.7%
54	BRISTOL-MYERS SQUIBB CO COM BMY	BMY	569,729	$33.1m0.34%	0.34%	Unchanged
55	JABIL INC COM JBL	JBL	260,252	$33.0m0.33%	0.33%	Added +21.9k	+21,894 9.2%
56	JACOBS SOLUTIONS INC COM J	J	237,134	$32.4m0.33%	0.33%	Unchanged
57	ORACLE CORP COM ORCL	ORCL	303,009	$32.1m0.33%	0.33%	Unchanged
58	ASTRAZENECA PLC SPONSORED ADR SPONSORED ADR		453,178	$30.7m0.31%	0.31%	Added +8.9k	+8,869 2.0%
59	PHILLIPS 66 COM PSX	PSX	253,279	$30.4m0.31%	0.31%	Unchanged
60	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	216,281	$30.3m0.31%	0.31%	Unchanged
61	PHILIP MORRIS INTL INC COM PM	PM	320,274	$29.7m0.30%	0.30%	Reduced -30.3k	-30,291 -8.6%
62	ALTRIA GROUP INC COM MO	MO	702,694	$29.5m0.30%	0.30%	Unchanged
63	RTX CORPORATION COM RTX	RTX	410,512	$29.5m0.30%	0.30%	Reduced -120.6k	-120,578 -22.7%
64	MONDELEZ INTL INC CL A MDLZ	MDLZ	421,963	$29.3m0.30%	0.30%	Reduced -28.4k	-28,363 -6.3%
65	COMCAST CORP NEW CL A CMCSA	CMCSA	652,072	$28.9m0.29%	0.29%	Reduced -22.5k	-22,477 -3.3%
66	GILEAD SCIENCES INC COM GILD	GILD	384,651	$28.8m0.29%	0.29%	Added +27.1k	+27,100 7.6%
67	NVR INC COM NVR	NVR	4,706	$28.1m0.28%	0.28%	Reduced -1.5k	-1,526 -24.5%
68	NIKE INC CL B NKE	NKE	290,214	$27.8m0.28%	0.28%	Reduced -3.5k	-3,531 -1.2%
69	PROGRESSIVE CORP COM PGR	PGR	198,496	$27.6m0.28%	0.28%	Reduced -41.0k	-41,000 -17.1%
70	VALE S A SPONSORED ADS VALE	VALE	2,060,190	$27.6m0.28%	0.28%	Added +25.0k	+25,000 1.2%
71	MONSTER BEVERAGE CORP NEW COM MNST	MNST	520,524	$27.6m0.28%	0.28%	Reduced -34.4k	-34,428 -6.2%
72	LINDE PLC SHS LIN	LIN	73,767	$27.5m0.28%	0.28%	Reduced -2.7k	-2,700 -3.5%
73	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	53,926	$27.3m0.28%	0.28%	Unchanged
74	MCDONALDS CORP COM MCD	MCD	102,934	$27.1m0.27%	0.27%	Reduced -2.5k	-2,499 -2.4%
75	SHOPIFY INC CL A SUB VTG SHS SHOP	SHOP	494,882	$27.0m0.27%	0.27%	Reduced -3.2k	-3,218 -0.7%
76	MCKESSON CORP COM MCK	MCK	62,091	$27.0m0.27%	0.27%	Reduced -6.8k	-6,800 -9.9%
77	NXP SEMICONDUCTORS N V COM NXPI	NXPI	133,171	$26.6m0.27%	0.27%	Unchanged
78	APPLIED MATLS INC COM AMAT	AMAT	191,700	$26.5m0.27%	0.27%	Reduced -30.9k	-30,935 -13.9%
79	CUMMINS INC COM CMI	CMI	115,721	$26.4m0.27%	0.27%	Unchanged
80	MARATHON OIL CORP COM MRO	MRO	971,039	$26.0m0.26%	0.26%	Reduced -155.3k	-155,337 -13.8%
81	ACCENTURE PLC IRELAND SHS CLASS A ACN	ACN	84,200	$25.9m0.26%	0.26%	Added +27.5k	+27,451 48.4%
82	PACCAR INC COM PCAR	PCAR	301,068	$25.6m0.26%	0.26%	Added +254.1k	+254,100 541.0%
83	AMETEK INC COM AME	AME	171,766	$25.4m0.26%	0.26%	Reduced -19.8k	-19,835 -10.3%
84	CDW CORP COM CDW	CDW	125,743	$25.4m0.26%	0.26%	Added +24.0k	+23,991 23.6%
85	WELLS FARGO CO NEW COM WFC	WFC	620,214	$25.3m0.26%	0.26%	Reduced -26.2k	-26,226 -4.1%
86	OREILLY AUTOMOTIVE INC COM ORLY	ORLY	27,836	$25.3m0.26%	0.26%	Reduced -1.7k	-1,700 -5.8%
87	ABBOTT LABS COM ABT	ABT	261,072	$25.3m0.26%	0.26%	Unchanged
88	BOSTON SCIENTIFIC CORP COM BSX	BSX	469,165	$24.8m0.25%	0.25%	Added +121.1k	+121,066 34.8%
89	REPSOL S.A. ADR REPYY	REPYY	1,502,340	$24.7m0.25%	0.25%	Added +18.0k	+18,000 1.2%
90	DANAHER CORPORATION COM DHR	DHR	98,618	$24.5m0.25%	0.25%	Added +4.4k	+4,351 4.6%
91	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	56,711	$24.2m0.25%	0.25%	Unchanged
92	MODERNA INC COM MRNA	MRNA	232,489	$24.0m0.24%	0.24%	Added +53.0k	+53,035 29.6%
93	S&P GLOBAL INC COM SPGI	SPGI	64,837	$23.7m0.24%	0.24%	Reduced -4.6k	-4,631 -6.7%
94	ELEVANCE HEALTH INC COM ELV	ELV	54,388	$23.7m0.24%	0.24%	Reduced -7.0k	-7,000 -11.4%
95	NUCOR CORP COM NUE	NUE	150,461	$23.5m0.24%	0.24%	Reduced -4.6k	-4,600 -3.0%
96	FISERV INC COM FISV	FISV	205,096	$23.2m0.23%	0.23%	Added +75.0k	+75,000 57.6%
97	EATON CORP PLC SHS ETN	ETN	107,300	$22.9m0.23%	0.23%	Reduced -24.4k	-24,364 -18.5%
98	EBAY INC. COM EBAY	EBAY	515,185	$22.7m0.23%	0.23%	Added +2.4k	+2,400 0.5%
99	PROLOGIS INC. COM PLD	PLD	201,222	$22.6m0.23%	0.23%	Reduced -4.0k	-3,951 -1.9%
100	KROGER CO COM KR	KR	502,036	$22.5m0.23%	0.23%	Added +34.0k	+34,000 7.3%

Sold out since Q2 2023

Security	Ticker	Shares held before	Value then
CRH PLC		378,910	$21.1m378.9k shares
BANK MONTREAL QUE BMO	BMO	101,360	$9.2m101.4k shares
FIRST CTZNS BANCSHARES INC N FCNCA	FCNCA	6,679	$8.6m6.7k shares
MARKEL GROUP INC MKL	MKL	5,952	$8.2m6.0k shares
CREDIT ACCEP CORP MICH CACC	CACC	15,695	$8.0m15.7k shares
INSULET CORP PODD	PODD	24,679	$7.1m24.7k shares
ELEMENT SOLUTIONS INC ESI	ESI	349,415	$6.7m349.4k shares
WORLD WRESTLING ENTMT INC WWE	WWE	55,930	$6.1m55.9k shares
U HAUL HOLDING COMPANY UHAL.B	UHAL.B	95,778	$4.9m95.8k shares
MARVELL TECHNOLOGY INC MRVL	MRVL	77,400	$4.6m77.4k shares
LIFE STORAGE INC		32,358	$4.3m32.4k shares
KENVUE INC KVUE	KVUE	160,500	$4.2m160.5k shares
PTC THERAPEUTICS INC PTCT	PTCT	94,220	$3.8m94.2k shares
HYATT HOTELS CORP H	H	31,474	$3.6m31.5k shares
PDC ENERGY INC PDCE	PDCE	50,648	$3.6m50.6k shares
EXACT SCIENCES CORP EXAS	EXAS	35,704	$3.4m35.7k shares
MONGODB INC MDB	MDB	7,142	$2.9m7.1k shares
WHITE MTNS INS GROUP LTD WTM	WTM	2,083	$2.9m2.1k shares
NUVEI CORPORATION NVEI	NVEI	93,303	$2.8m93.3k shares
TRANSUNION TRU	TRU	31,428	$2.5m31.4k shares
SAREPTA THERAPEUTICS INC SRPT	SRPT	19,840	$2.3m19.8k shares
GFL ENVIRONMENTAL INC GFL	GFL	55,287	$2.1m55.3k shares
APELLIS PHARMACEUTICALS INC APLS	APLS	23,396	$2.1m23.4k shares
HUBSPOT INC HUBS	HUBS	3,853	$2.0m3.9k shares
ULTRAGENYX PHARMACEUTICAL IN RARE	RARE	40,822	$1.9m40.8k shares