TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY

FRANKFORT, KY · CIK 714142 · 13F filing filed 2026-05-04

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)

$12.9bn reported value -3.4% vs Q4 2025

1,677positions

24.2%in top 10

42 new 223 added 256 reduced 47 sold out vs Q4 2025

This report includes the holdings of 27 other managers that share the investment decisions:

BAILLIE GIFFORD US EQUITY GROWTH STRATEGY – no 13F of its own this quarter
INTERNAL IN HOUSE EQUITIES – no 13F of its own this quarter
INTERNAL MGMT JL LOSEY SCHOLARSHIP FUND – no 13F of its own this quarter
INTERNAL MGMT S&P 500 INDEX – no 13F of its own this quarter
INTERNAL MGMT S&P400 INDEX – no 13F of its own this quarter
INTERNAL S&P 600 INDEX – no 13F of its own this quarter
LIFE BAILLIE GIFFORD US EQUITY GROWTH – no 13F of its own this quarter
LIFE IN HOUSE EQUITIES – no 13F of its own this quarter

19 more

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
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 EQUITIES – 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
MED TODD INTL INTRINSIC VALUE – no 13F of its own this quarter
STATE STREET US PREMIER GROWTH – no 13F of its own this quarter
TODD INTL INTRINSIC VALUE – no 13F of its own this quarter
TODD INTL INTRINSIC VALUE OPPORTUNITY FUND – no 13F of its own this quarter
TODD INTRINSIC VALUE OPPORTUNITY FUND – 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, Q1 2026

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	NVIDIA CORPORATION COM NVDA	NVDA	3,671,448	$640.3m4.97%	4.97%	Added +68.4k	+68,406 1.9%
2	APPLE INC COM AAPL	AAPL	1,889,728	$479.6m3.72%	3.72%	Reduced -30.3k	-30,329 -1.6%
3	MICROSOFT CORP COM MSFT	MSFT	1,109,372	$410.7m3.19%	3.19%	Added +2.5k	+2,468 0.2%
4	ALPHABET INC CAP STK CL A GOOGL	GOOGL	1,233,629	$354.7m2.75%	2.75%	Added +79.9k	+79,930 6.9%
5	AMAZON COM INC COM AMZN	AMZN	1,692,462	$352.5m2.73%	2.73%	Added +16.5k	+16,517 1.0%
6	BROADCOM INC COM AVGO	AVGO	850,380	$263.2m2.04%	2.04%	Added +37.1k	+37,060 4.6%
7	META PLATFORMS INC CL A META	META	374,237	$214.1m1.66%	1.66%	Added +9.6k	+9,646 2.6%
8	ALPHABET INC CAP STK CL C GOOG	GOOG	506,051	$145.2m1.13%	1.13%	Reduced -6.2k	-6,200 -1.2%
9	ELI LILLY & CO COM LLY	LLY	150,845	$138.7m1.08%	1.08%	Reduced -393	-393 -0.3%
10	JPMORGAN CHASE & CO COM JPM	JPM	420,831	$123.8m0.96%	0.96%	Reduced -19.0k	-19,043 -4.3%
11	TESLA INC COM TSLA	TSLA	293,112	$109.0m0.85%	0.85%	Added +3.2k	+3,220 1.1%
12	VISA INC COM CL A V	V	285,876	$86.4m0.67%	0.67%	Reduced -2.2k	-2,200 -0.8%
13	GILEAD SCIENCES INC COM GILD	GILD	614,360	$85.6m0.66%	0.66%	Reduced -12.7k	-12,727 -2.0%
14	CHUBB LIMITED COM CB	CB	259,587	$84.6m0.66%	0.66%	Added +36.0k	+36,000 16.1%
15	MICRON TECHNOLOGY INC COM MU	MU	228,340	$77.1m0.60%	0.60%	Added +93.0k	+92,987 68.7%
16	TEVA PHARMACEUTICAL INDS LTD SPONSORED ADS SPONSORED ADS		2,445,300	$73.7m0.57%	0.57%	Unchanged
17	ADVANCED MICRO DEVICES INC COM AMD	AMD	353,090	$71.8m0.56%	0.56%	Added +6.4k	+6,394 1.8%
18	NETFLIX INC COM NFLX	NFLX	742,115	$71.4m0.55%	0.55%	Reduced -217.9k	-217,923 -22.7%
19	HCA HEALTHCARE INC COM HCA	HCA	150,712	$71.3m0.55%	0.55%	Added +61.9k	+61,927 69.8%
20	WALMART INC COM WMT	WMT	560,476	$69.7m0.54%	0.54%	Reduced -31.2k	-31,247 -5.3%
21	CISCO SYS INC COM CSCO	CSCO	894,093	$69.4m0.54%	0.54%	Added +37.2k	+37,187 4.3%
22	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	143,766	$68.9m0.53%	0.53%	Unchanged
23	PARKER-HANNIFIN CORP COM PH	PH	74,822	$67.0m0.52%	0.52%	Reduced -9.9k	-9,889 -11.7%
24	EXXON MOBIL CORP COM XOM	XOM	393,661	$66.8m0.52%	0.52%	Reduced -49.8k	-49,819 -11.2%
25	QUALCOMM INC COM QCOM	QCOM	518,213	$66.7m0.52%	0.52%	Reduced -40.7k	-40,700 -7.3%
26	TOTALENERGIES SE ACT TTE	TTE	731,230	$66.5m0.52%	0.52%	Reduced -2.5k	-2,450 -0.3%
27	KLA CORP COM NEW KLAC	KLAC	43,675	$64.3m0.50%	0.50%	Reduced -5.2k	-5,163 -10.6%
28	ABBVIE INC COM ABBV	ABBV	290,591	$63.2m0.49%	0.49%	Added +12.0k	+12,000 4.3%
29	KROGER CO COM KR	KR	866,959	$62.7m0.49%	0.49%	Reduced -10.9k	-10,900 -1.2%
30	SHELL PLC SPON ADS SHEL	SHEL	670,690	$62.4m0.48%	0.48%	Added +51.0k	+51,000 8.2%
31	MASTERCARD INCORPORATED CL A MA	MA	123,417	$61.7m0.48%	0.48%	Added +3.2k	+3,160 2.6%
32	MEDTRONIC PLC SHS MDT	MDT	701,959	$60.8m0.47%	0.47%	Added +105.0k	+105,000 17.6%
33	NXP SEMICONDUCTORS N V COM NXPI	NXPI	301,412	$59.3m0.46%	0.46%	Added +130.1k	+130,142 76.0%
34	MORGAN STANLEY COM NEW MS	MS	339,029	$55.8m0.43%	0.43%	Reduced -2.0k	-2,000 -0.6%
35	CUMMINS INC COM CMI	CMI	102,267	$55.0m0.43%	0.43%	Added +806	+806 0.8%
36	PHILIP MORRIS INTL INC COM PM	PM	332,345	$55.0m0.43%	0.43%	Added +52.2k	+52,232 18.6%
37	BANK AMERICA CORP COM BAC	BAC	1,119,219	$54.6m0.42%	0.42%	Unchanged
38	VALE S A SPONSORED ADS VALE	VALE	3,423,400	$54.5m0.42%	0.42%	Reduced -649.0k	-649,000 -15.9%
39	WELLS FARGO CO NEW COM WFC	WFC	658,730	$52.4m0.41%	0.41%	Reduced -33.9k	-33,900 -4.9%
40	RIO TINTO PLC SPONSORED ADR RIO	RIO	545,770	$50.9m0.39%	0.39%	Reduced -152.0k	-152,000 -21.8%
41	TECHNIPFMC PLC COM FTI	FTI	692,800	$47.9m0.37%	0.37%	Added +47.0k	+47,000 7.3%
42	BANCO SANTANDER S.A. ADR SAN	SAN	4,244,210	$47.9m0.37%	0.37%	Reduced -617.1k	-617,150 -12.7%
43	COSTCO WHSL CORP NEW COM COST	COST	46,745	$46.6m0.36%	0.36%	Unchanged
44	ORACLE CORP COM ORCL	ORCL	315,435	$46.4m0.36%	0.36%	Added +6.0k	+6,000 1.9%
45	JOHNSON & JOHNSON COM JNJ	JNJ	189,024	$46.2m0.36%	0.36%	Unchanged
46	ING GROEP N.V. SPONSORED ADR ING	ING	1,765,380	$46.0m0.36%	0.36%	Reduced -19.3k	-19,270 -1.1%
47	AERCAP HOLDINGS NV SHS AER	AER	327,670	$44.9m0.35%	0.35%	Unchanged
48	AMGEN INC COM AMGN	AMGN	126,248	$44.4m0.34%	0.34%	Unchanged
49	NRG ENERGY INC COM NEW NRG	NRG	301,843	$44.1m0.34%	0.34%	Added +63.6k	+63,600 26.7%
50	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	129,780	$43.9m0.34%	0.34%	Unchanged
51	ALTRIA GROUP INC COM MO	MO	657,035	$43.4m0.34%	0.34%	Unchanged
52	HOME DEPOT INC COM HD	HD	130,103	$42.8m0.33%	0.33%	Unchanged
53	MITSUBISHI UFJ FINL GROUP IN SPONSORED ADS MUFG	MUFG	2,506,310	$42.5m0.33%	0.33%	Unchanged
54	VERIZON COMMUNICATIONS INC COM VZ	VZ	840,086	$42.2m0.33%	0.33%	Added +202.0k	+202,000 31.7%
55	UNITED RENTALS INC COM URI	URI	57,462	$41.9m0.32%	0.32%	Reduced -1.6k	-1,560 -2.6%
56	APPLIED MATLS INC COM AMAT	AMAT	122,470	$41.9m0.32%	0.32%	Reduced -9.3k	-9,300 -7.1%
57	JABIL INC COM JBL	JBL	156,414	$41.5m0.32%	0.32%	Reduced -113.7k	-113,650 -42.1%
58	DELL TECHNOLOGIES INC CL C DELL	DELL	252,230	$41.4m0.32%	0.32%	Unchanged
59	MARATHON PETE CORP COM MPC	MPC	168,644	$41.2m0.32%	0.32%	Added +143.5k	+143,500 570.7%
60	MCKESSON CORP COM MCK	MCK	47,329	$41.0m0.32%	0.32%	Unchanged
61	NOVARTIS AG SPONSORED ADR NVS	NVS	267,950	$40.9m0.32%	0.32%	Reduced -7.0k	-7,000 -2.5%
62	BANK NEW YORK MELLON CORP COM BNY	BNY	338,774	$40.2m0.31%	0.31%	Added +33.0k	+33,000 10.8%
63	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	164,726	$39.9m0.31%	0.31%	Unchanged
64	BARCLAYS PLC ADR BCS	BCS	1,881,600	$39.8m0.31%	0.31%	Reduced -114.4k	-114,440 -5.7%
65	CITIGROUP INC COM NEW C	C	348,354	$39.5m0.31%	0.31%	Reduced -37.7k	-37,700 -9.8%
66	AKAMAI TECHNOLOGIES INC COM AKAM	AKAM	343,879	$39.5m0.31%	0.31%	Added +42.2k	+42,206 14.0%
67	CITIZENS FINL GROUP INC COM CFG	CFG	655,634	$39.3m0.31%	0.31%	Unchanged
68	AMERICAN EXPRESS CO COM AXP	AXP	127,817	$38.7m0.30%	0.30%	Reduced -10.0k	-9,959 -7.2%
69	NATWEST GROUP PLC SPONS ADR NWG	NWG	2,490,080	$37.1m0.29%	0.29%	Reduced -319.5k	-319,511 -11.4%
70	YUM CHINA HLDGS INC COM YUMC	YUMC	752,360	$36.7m0.28%	0.28%	Added +224.1k	+224,060 42.4%
71	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	56,275	$36.6m0.28%	0.28%	Unchanged
72	SERVICENOW INC COM NOW	NOW	347,960	$36.4m0.28%	0.28%	Added +74.0k	+73,960 27.0%
73	ONEOK INC NEW COM OKE	OKE	400,707	$36.2m0.28%	0.28%	Added +68.0k	+68,000 20.4%
74	FIRST SOLAR INC COM FSLR	FSLR	182,379	$36.0m0.28%	0.28%	Added +48.0k	+48,000 35.7%
75	FIFTH THIRD BANCORP COM FITB	FITB	771,052	$35.8m0.28%	0.28%	Added +17.5k	+17,500 2.3%
76	MERCK & CO INC COM MRK	MRK	295,607	$35.6m0.28%	0.28%	Added +23.7k	+23,719 8.7%
77	NEWMONT CORP COM NEM	NEM	328,197	$35.5m0.28%	0.28%	Added +238.9k	+238,900 267.5%
78	SALESFORCE INC COM CRM	CRM	188,165	$35.1m0.27%	0.27%	Added +57.6k	+57,600 44.1%
79	KB FINL GROUP INC SPONSORED ADR KB	KB	347,200	$34.6m0.27%	0.27%	Unchanged
80	DAVITA INC COM DVA	DVA	225,177	$34.6m0.27%	0.27%	Added +37.8k	+37,800 20.2%
81	BRITISH AMERN TOB PLC SPONSORED ADR BTI	BTI	589,730	$34.5m0.27%	0.27%	Unchanged
82	ORIX CORP SPONSORED ADR IX	IX	1,147,000	$34.4m0.27%	0.27%	Unchanged
83	CRH PLC ORD CRH	CRH	322,240	$33.9m0.26%	0.26%	Reduced -23.6k	-23,600 -6.8%
84	HUNTINGTON INGALLS INDS INC COM HII	HII	88,982	$33.8m0.26%	0.26%	Unchanged
85	TAPESTRY INC COM TPR	TPR	239,399	$33.8m0.26%	0.26%	Reduced -51.0k	-51,000 -17.6%
86	DICKS SPORTING GOODS INC COM DKS	DKS	170,141	$33.7m0.26%	0.26%	Added +21.8k	+21,759 14.7%
87	PETROLEO BRASILEIRO SA PETRO SPONSORED ADR PBR	PBR	1,618,030	$33.6m0.26%	0.26%	Reduced -351.0k	-351,000 -17.8%
88	GE AEROSPACE COM NEW GE	GE	116,831	$33.2m0.26%	0.26%	Reduced -3.7k	-3,703 -3.1%
89	UNITEDHEALTH GROUP INC COM UNH	UNH	122,360	$33.1m0.26%	0.26%	Unchanged
90	PROGRESSIVE CORP COM PGR	PGR	165,550	$32.8m0.25%	0.25%	Reduced -5.8k	-5,800 -3.4%
91	BOOKING HOLDINGS INC COM BKNG	BKNG	7,746	$32.6m0.25%	0.25%	Reduced -4.6k	-4,610 -37.3%
92	ALIBABA GROUP HLDG LTD SPONSORED ADS BABA	BABA	259,580	$32.6m0.25%	0.25%	Added +51.0k	+51,000 24.4%
93	ITAU UNIBANCO HLDG S A SPON ADR REP PFD ITUB	ITUB	3,837,098	$32.2m0.25%	0.25%	Unchanged
94	GOLDMAN SACHS GROUP INC COM GS	GS	37,481	$31.7m0.25%	0.25%	Reduced -14.8k	-14,805 -28.3%
95	CROWN HLDGS INC COM CCK	CCK	311,135	$31.2m0.24%	0.24%	Added +114.0k	+114,000 57.8%
96	CHEVRON CORP NEW COM CVX	CVX	150,124	$31.1m0.24%	0.24%	Unchanged
97	PALANTIR TECHNOLOGIES INC CL A PLTR	PLTR	211,376	$30.9m0.24%	0.24%	Added +36.5k	+36,534 20.9%
98	EATON CORP PLC SHS ETN	ETN	84,646	$30.3m0.23%	0.23%	Added +15.2k	+15,214 21.9%
99	APTIV PLC COM SHS APTV	APTV	435,558	$30.2m0.23%	0.23%	Reduced -22.1k	-22,100 -4.8%
100	CVS HEALTH CORP COM CVS	CVS	420,981	$30.2m0.23%	0.23%	Added +322.4k	+322,400 327.0%

Sold out since Q4 2025

Security	Ticker	Shares held before	Value then
HDFC BANK LTD HDB	HDB	511,760	$18.7m511.8k shares
AMDOCS LTD DOX	DOX	228,410	$18.4m228.4k shares
SONY GROUP CORP SONY	SONY	527,900	$13.5m527.9k shares
ASTRAZENECA PLC		60,509	$11.1m60.5k shares
CADENCE BANK BXS	BXS	157,278	$6.7m157.3k shares
PINNACLE FINL PARTNERS INC		46,246	$4.4m46.2k shares
NOVO-NORDISK A S NVO	NVO	82,740	$4.2m82.7k shares
SYNOVUS FINL CORP		76,459	$3.8m76.5k shares
COMERICA INC CMA	CMA	40,684	$3.5m40.7k shares
KLARNA GROUP PLC KLAR	KLAR	101,131	$2.9m101.1k shares
FRONTIER COMMUNICATIONS PARE FYBR	FYBR	67,134	$2.6m67.1k shares
GLOBANT S A GLOB	GLOB	24,447	$1.6m24.4k shares
AMCOR PLC AMCR	AMCR	190,995	$1.6m191.0k shares
CLEARWATER ANALYTICS HLDGS I		62,472	$1.5m62.5k shares
PIPER SANDLER COMPANIES PJC	PJC	16,816	$1.4m16.8k shares
GENIUS SPORTS LIMITED GENI	GENI	118,222	$1.3m118.2k shares
INTAPP INC INTA	INTA	26,908	$1.2m26.9k shares
INDIVIOR PLC INDV	INDV	30,700	$1.1m30.7k shares
POTLATCHDELTIC CORPORATION PCH	PCH	26,967	$1.1m27.0k shares
UNITY SOFTWARE INC U	U	23,407	$1.0m23.4k shares
DAYFORCE INC DAY	DAY	12,362	$855.0k12.4k shares
VERTEX INC VERX	VERX	40,964	$818.0k41.0k shares
TEGNA INC TGNA	TGNA	40,452	$785.0k40.5k shares
AVEPOINT INC AVPT	AVPT	56,181	$780.0k56.2k shares
CIVITAS RESOURCES INC CIVI	CIVI	27,718	$751.0k27.7k shares