TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY

FRANKFORT, KY · CIK 714142 · 13F filing filed 2024-02-26

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)

$10.7bn reported value +8.5% vs Q3 2023

1,679positions

21.5%in top 10

36 new 157 added 738 reduced 73 sold out vs Q3 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&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 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, Q4 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	1,311,184	$493.1m4.60%	4.60%	Reduced -48.6k	-48,576 -3.6%
2	APPLE INC COM AAPL	AAPL	2,049,526	$394.6m3.68%	3.68%	Reduced -92.8k	-92,757 -4.3%
3	AMAZON COM INC COM AMZN	AMZN	1,955,490	$297.1m2.77%	2.77%	Reduced -86.7k	-86,704 -4.2%
4	NVIDIA CORPORATION COM NVDA	NVDA	473,546	$234.5m2.19%	2.19%	Reduced -4.2k	-4,245 -0.9%
5	ALPHABET INC CAP STK CL A GOOGL	GOOGL	1,357,862	$189.7m1.77%	1.77%	Reduced -30.3k	-30,286 -2.2%
6	BROADCOM INC COM AVGO	AVGO	143,264	$159.9m1.49%	1.49%	Added +31.2k	+31,244 27.9%
7	META PLATFORMS INC CL A META	META	447,833	$158.5m1.48%	1.48%	Reduced -5.3k	-5,278 -1.2%
8	UNITEDHEALTH GROUP INC COM UNH	UNH	282,390	$148.7m1.39%	1.39%	Reduced -15.0k	-14,956 -5.0%
9	ALPHABET INC CAP STK CL C GOOG	GOOG	828,424	$116.8m1.09%	1.09%	Reduced -69.1k	-69,094 -7.7%
10	TESLA INC COM TSLA	TSLA	439,636	$109.2m1.02%	1.02%	Reduced -18.5k	-18,483 -4.0%
11	JPMORGAN CHASE & CO COM JPM	JPM	544,270	$92.6m0.86%	0.86%	Reduced -13.6k	-13,604 -2.4%
12	UNITED RENTALS INC COM URI	URI	157,658	$90.4m0.84%	0.84%	Reduced -22.1k	-22,114 -12.3%
13	VISA INC COM CL A V	V	341,865	$89.0m0.83%	0.83%	Reduced -23.2k	-23,234 -6.4%
14	KLA CORP COM NEW KLAC	KLAC	130,923	$76.1m0.71%	0.71%	Reduced -4.1k	-4,140 -3.1%
15	MASTERCARD INCORPORATED CL A MA	MA	177,670	$75.8m0.71%	0.71%	Reduced -8.9k	-8,860 -4.8%
16	HOME DEPOT INC COM HD	HD	209,372	$72.6m0.68%	0.68%	Reduced -5.6k	-5,633 -2.6%
17	QUALCOMM INC COM QCOM	QCOM	471,414	$68.2m0.64%	0.64%	Added +14.4k	+14,412 3.1%
18	COSTCO WHSL CORP NEW COM COST	COST	102,710	$67.8m0.63%	0.63%	Reduced -5.9k	-5,926 -5.5%
19	SCHLUMBERGER LTD COM STK SLB	SLB	1,281,857	$66.7m0.62%	0.62%	Reduced -54.8k	-54,840 -4.1%
20	ELI LILLY & CO COM LLY	LLY	112,856	$65.8m0.61%	0.61%	Reduced -12.3k	-12,318 -9.8%
21	SALESFORCE INC COM CRM	CRM	245,308	$64.5m0.60%	0.60%	Reduced -10.3k	-10,282 -4.0%
22	MERCK & CO INC COM MRK	MRK	534,805	$58.3m0.54%	0.54%	Reduced -185.5k	-185,543 -25.8%
23	AUTOZONE INC COM AZO	AZO	22,178	$57.3m0.54%	0.54%	Added +2.3k	+2,315 11.7%
24	NETFLIX INC COM NFLX	NFLX	116,999	$57.0m0.53%	0.53%	Added +15.2k	+15,186 14.9%
25	ABBVIE INC COM ABBV	ABBV	366,734	$56.8m0.53%	0.53%	Reduced -53.1k	-53,069 -12.6%
26	PARKER-HANNIFIN CORP COM PH	PH	122,402	$56.4m0.53%	0.53%	Reduced -3.4k	-3,434 -2.7%
27	ADOBE INC COM ADBE	ADBE	94,025	$56.1m0.52%	0.52%	Reduced -6.4k	-6,445 -6.4%
28	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	156,450	$55.8m0.52%	0.52%	Reduced -5.8k	-5,822 -3.6%
29	AMERIPRISE FINL INC COM AMP	AMP	143,769	$54.6m0.51%	0.51%	Reduced -2.4k	-2,445 -1.7%
30	SHELL PLC SPON ADS SHEL	SHEL	821,370	$54.0m0.50%	0.50%	Reduced -58.5k	-58,500 -6.7%
31	HCA HEALTHCARE INC COM HCA	HCA	199,209	$53.9m0.50%	0.50%	Added +26.9k	+26,919 15.6%
32	EXXON MOBIL CORP COM XOM	XOM	524,778	$52.5m0.49%	0.49%	Reduced -43.4k	-43,403 -7.6%
33	MORGAN STANLEY COM NEW MS	MS	529,879	$49.4m0.46%	0.46%	Reduced -11.9k	-11,907 -2.2%
34	BANK AMERICA CORP COM BAC	BAC	1,444,264	$48.6m0.45%	0.45%	Reduced -109.3k	-109,323 -7.0%
35	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	90,202	$47.9m0.45%	0.45%	Added +36.3k	+36,276 67.3%
36	VERTEX PHARMACEUTICALS INC COM VRTX	VRTX	116,512	$47.4m0.44%	0.44%	Reduced -27.2k	-27,236 -18.9%
37	ADVANCED MICRO DEVICES INC COM AMD	AMD	320,562	$47.3m0.44%	0.44%	Reduced -168.9k	-168,945 -34.5%
38	PROCTER AND GAMBLE CO COM PG	PG	319,551	$46.8m0.44%	0.44%	Reduced -9.8k	-9,789 -3.0%
39	ON SEMICONDUCTOR CORP COM ON	ON	548,570	$45.8m0.43%	0.43%	Reduced -5.6k	-5,631 -1.0%
40	SERVICENOW INC COM NOW	NOW	63,881	$45.1m0.42%	0.42%	Added +455	+455 0.7%
41	AMERICAN EXPRESS CO COM AXP	AXP	238,270	$44.6m0.42%	0.42%	Reduced -1.5k	-1,480 -0.6%
42	TOTALENERGIES SE SPONSORED ADS SPONSORED ADS		652,970	$44.0m0.41%	0.41%	Reduced -51.9k	-51,900 -7.4%
43	RIO TINTO PLC SPONSORED ADR RIO	RIO	580,080	$43.2m0.40%	0.40%	Reduced -6.9k	-6,900 -1.2%
44	CHEVRON CORP NEW COM CVX	CVX	272,169	$40.6m0.38%	0.38%	Reduced -13.6k	-13,560 -4.8%
45	AMGEN INC COM AMGN	AMGN	137,336	$39.6m0.37%	0.37%	Reduced -2.0k	-2,047 -1.5%
46	CONOCOPHILLIPS COM COP	COP	336,412	$39.0m0.36%	0.36%	Reduced -6.6k	-6,597 -1.9%
47	PHILLIPS 66 COM PSX	PSX	289,395	$38.5m0.36%	0.36%	Added +36.1k	+36,116 14.3%
48	CHUBB LIMITED COM CB	CB	169,038	$38.2m0.36%	0.36%	Added +86.3k	+86,255 104.2%
49	VALE S A SPONSORED ADS VALE	VALE	2,367,090	$37.5m0.35%	0.35%	Added +306.9k	+306,900 14.9%
50	ORACLE CORP COM ORCL	ORCL	347,344	$36.6m0.34%	0.34%	Added +44.3k	+44,335 14.6%
51	ASTRAZENECA PLC SPONSORED ADR SPONSORED ADR		518,938	$35.0m0.33%	0.33%	Added +65.8k	+65,760 14.5%
52	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	213,088	$34.9m0.33%	0.33%	Reduced -3.2k	-3,193 -1.5%
53	EQUINOR ASA SPONSORED ADR EQNR	EQNR	1,090,860	$34.5m0.32%	0.32%	Reduced -28.2k	-28,200 -2.5%
54	BEST BUY INC COM BBY	BBY	426,430	$33.4m0.31%	0.31%	Added +290.8k	+290,812 214.4%
55	LOWES COS INC COM LOW	LOW	148,869	$33.1m0.31%	0.31%	Reduced -62.2k	-62,164 -29.5%
56	SHOPIFY INC CL A SUB VTG SHS SHOP	SHOP	423,030	$33.0m0.31%	0.31%	Reduced -71.9k	-71,852 -14.5%
57	MARSH & MCLENNAN COS INC COM MRSH	MRSH	173,301	$32.8m0.31%	0.31%	Reduced -8.4k	-8,383 -4.6%
58	JOHNSON & JOHNSON COM JNJ	JNJ	209,218	$32.8m0.31%	0.31%	Reduced -26.4k	-26,434 -11.2%
59	NIKE INC CL B NKE	NKE	294,531	$32.0m0.30%	0.30%	Added +4.3k	+4,317 1.5%
60	DELL TECHNOLOGIES INC CL C DELL	DELL	416,500	$31.9m0.30%	0.30%	Reduced -112.0k	-112,000 -21.2%
61	CHARTER COMMUNICATIONS INC N CL A CHTR	CHTR	80,250	$31.2m0.29%	0.29%	Reduced -15.7k	-15,724 -16.4%
62	AMETEK INC COM AME	AME	187,284	$30.9m0.29%	0.29%	Added +15.5k	+15,518 9.0%
63	CDW CORP COM CDW	CDW	135,232	$30.7m0.29%	0.29%	Added +9.5k	+9,489 7.5%
64	JACOBS SOLUTIONS INC COM J	J	236,538	$30.7m0.29%	0.29%	Reduced -596	-596 -0.2%
65	PROGRESSIVE CORP COM PGR	PGR	191,553	$30.5m0.28%	0.28%	Reduced -6.9k	-6,943 -3.5%
66	NVR INC COM NVR	NVR	4,306	$30.1m0.28%	0.28%	Reduced -400	-400 -8.5%
67	BOSTON SCIENTIFIC CORP COM BSX	BSX	514,973	$29.8m0.28%	0.28%	Added +45.8k	+45,808 9.8%
68	NXP SEMICONDUCTORS N V COM NXPI	NXPI	129,048	$29.6m0.28%	0.28%	Reduced -4.1k	-4,123 -3.1%
69	MONSTER BEVERAGE CORP NEW COM MNST	MNST	514,226	$29.6m0.28%	0.28%	Reduced -6.3k	-6,298 -1.2%
70	MCDONALDS CORP COM MCD	MCD	99,708	$29.6m0.28%	0.28%	Reduced -3.2k	-3,226 -3.1%
71	MONDELEZ INTL INC CL A MDLZ	MDLZ	402,666	$29.2m0.27%	0.27%	Reduced -19.3k	-19,297 -4.6%
72	ACCENTURE PLC IRELAND SHS CLASS A ACN	ACN	82,912	$29.1m0.27%	0.27%	Reduced -1.3k	-1,288 -1.5%
73	APA CORPORATION COM APA	APA	804,237	$28.9m0.27%	0.27%	Reduced -123.2k	-123,221 -13.3%
74	LINDE PLC SHS LIN	LIN	70,150	$28.8m0.27%	0.27%	Reduced -3.6k	-3,617 -4.9%
75	PHILIP MORRIS INTL INC COM PM	PM	306,006	$28.8m0.27%	0.27%	Reduced -14.3k	-14,268 -4.5%
76	BRISTOL-MYERS SQUIBB CO COM BMY	BMY	558,467	$28.7m0.27%	0.27%	Reduced -11.3k	-11,262 -2.0%
77	APPLIED MATLS INC COM AMAT	AMAT	176,493	$28.6m0.27%	0.27%	Reduced -15.2k	-15,207 -7.9%
78	THE TRADE DESK INC COM CL A TTD	TTD	397,412	$28.6m0.27%	0.27%	Reduced -37.7k	-37,732 -8.7%
79	JABIL INC COM JBL	JBL	220,842	$28.1m0.26%	0.26%	Reduced -39.4k	-39,410 -15.1%
80	ELEVANCE HEALTH INC COM ELV	ELV	59,230	$27.9m0.26%	0.26%	Added +4.8k	+4,842 8.9%
81	ABBOTT LABS COM ABT	ABT	253,530	$27.9m0.26%	0.26%	Reduced -7.5k	-7,542 -2.9%
82	CUMMINS INC COM CMI	CMI	115,171	$27.6m0.26%	0.26%	Reduced -550	-550 -0.5%
83	PACCAR INC COM PCAR	PCAR	280,741	$27.4m0.26%	0.26%	Reduced -20.3k	-20,327 -6.8%
84	WELLS FARGO CO NEW COM WFC	WFC	555,544	$27.3m0.26%	0.26%	Reduced -64.7k	-64,670 -10.4%
85	DISCOVER FINL SVCS COM DFS	DFS	241,998	$27.2m0.25%	0.25%	Added +217.7k	+217,716 896.6%
86	COMCAST CORP NEW CL A CMCSA	CMCSA	617,204	$27.1m0.25%	0.25%	Reduced -34.9k	-34,868 -5.3%
87	S&P GLOBAL INC COM SPGI	SPGI	61,160	$26.9m0.25%	0.25%	Reduced -3.7k	-3,677 -5.7%
88	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	56,594	$26.9m0.25%	0.25%	Reduced -117	-117 -0.2%
89	MCKESSON CORP COM MCK	MCK	57,908	$26.8m0.25%	0.25%	Reduced -4.2k	-4,183 -6.7%
90	SYNCHRONY FINANCIAL COM SYF	SYF	699,558	$26.7m0.25%	0.25%	Added +41.5k	+41,455 6.3%
91	ULTA BEAUTY INC COM ULTA	ULTA	54,520	$26.7m0.25%	0.25%	Added +13.3k	+13,324 32.3%
92	FISERV INC COM FISV	FISV	200,845	$26.7m0.25%	0.25%	Reduced -4.3k	-4,251 -2.1%
93	PROLOGIS INC. COM PLD	PLD	199,658	$26.6m0.25%	0.25%	Reduced -1.6k	-1,564 -0.8%
94	OREILLY AUTOMOTIVE INC COM ORLY	ORLY	27,585	$26.2m0.24%	0.24%	Reduced -251	-251 -0.9%
95	ALTRIA GROUP INC COM MO	MO	647,788	$26.1m0.24%	0.24%	Reduced -54.9k	-54,906 -7.8%
96	CRH PLC ORD CRH	CRH	368,410	$25.5m0.24%	0.24%	Reduced -10.5k	-10,500 -2.8%
97	FIFTH THIRD BANCORP COM FITB	FITB	732,178	$25.3m0.24%	0.24%	Reduced -2.9k	-2,907 -0.4%
98	UNIVERSAL HLTH SVCS INC CL B UHS	UHS	164,670	$25.1m0.23%	0.23%	Added +24.0k	+23,951 17.0%
99	NETAPP INC COM NTAP	NTAP	283,802	$25.0m0.23%	0.23%	Reduced -10.3k	-10,321 -3.5%
100	AMERICAN TOWER CORP NEW COM AMT	AMT	114,940	$24.8m0.23%	0.23%	Reduced -2.9k	-2,939 -2.5%

Sold out since Q3 2023

Security	Ticker	Shares held before	Value then
SPLUNK INC SPLK	SPLK	86,615	$12.7m86.6k shares
BUNGE LIMITED BG	BG	88,724	$9.6m88.7k shares
ACTIVISION BLIZZARD INC ATVI	ATVI	65,393	$6.1m65.4k shares
IMPERIAL OIL LTD IMO	IMO	61,800	$3.8m61.8k shares
FLEX LTD FLEX	FLEX	107,600	$2.9m107.6k shares
NATIONAL INSTRS CORP		44,098	$2.6m44.1k shares
STMICROELECTRONICS N V STM	STM	58,300	$2.5m58.3k shares
SNAP INC SNAP	SNAP	262,355	$2.3m262.4k shares
REDFIN CORP RDFN	RDFN	219,135	$1.5m219.1k shares
HOSTESS BRANDS INC TWNK	TWNK	44,332	$1.5m44.3k shares
ENGAGESMART INC ESMT	ESMT	75,736	$1.4m75.7k shares
NOVOCURE LTD NVCR	NVCR	80,150	$1.3m80.2k shares
IMMUNOGEN INC IMGN	IMGN	66,878	$1.1m66.9k shares
VERITIV CORP VRTV	VRTV	4,476	$756.0k4.5k shares
SOVOS BRANDS INC		32,208	$726.0k32.2k shares
ARCELLX INC ACLX	ACLX	18,443	$662.0k18.4k shares
VENTYX BIOSCIENCES INC VTYX	VTYX	17,262	$600.0k17.3k shares
SYNDAX PHARMACEUTICALS INC SNDX	SNDX	37,433	$544.0k37.4k shares
SHIFT4 PMTS INC FOUR	FOUR	8,806	$488.0k8.8k shares
REVANCE THERAPEUTICS INC RVNC	RVNC	40,431	$464.0k40.4k shares
ACLARIS THERAPEUTICS INC ACRS	ACRS	63,320	$434.0k63.3k shares
NEXTGEN HEALTHCARE INC QSII	QSII	17,822	$423.0k17.8k shares
AVANTAX INC BCOR	BCOR	15,246	$390.0k15.2k shares
CIRCOR INTL INC		6,365	$355.0k6.4k shares
PACWEST BANCORP DEL PACW	PACW	40,280	$319.0k40.3k shares