TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY

FRANKFORT, KY · CIK 714142 · 13F filing filed 2026-08-12

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)

$14.7bn reported value +14.0% vs Q1 2026

1,681positions

24.8%in top 10

59 new 241 added 219 reduced 55 sold out vs Q1 2026

This report includes the holdings of 29 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

21 more

LIFE IN HOUSE HIGH YIELD – 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
LIFE S&P400 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
MED TODD INTRINSIC VALUE OPPORTUNITY – no 13F of its own this quarter
MED TODD LARGE CAP 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, Q2 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	3,668,350	$734.0m5.00%	5.00%	Reduced -3.1k	-3,098 -0.1%
2	APPLE INC COM AAPL	AAPL	1,798,007	$520.3m3.54%	3.54%	Reduced -91.7k	-91,721 -4.8%
3	ALPHABET INC CAP STK CL A GOOGL	GOOGL	1,243,527	$444.4m3.03%	3.03%	Added +9.9k	+9,898 0.8%
4	MICROSOFT CORP COM MSFT	MSFT	1,093,058	$407.7m2.78%	2.78%	Reduced -16.3k	-16,314 -1.5%
5	AMAZON COM INC COM AMZN	AMZN	1,647,507	$392.7m2.67%	2.67%	Reduced -45.0k	-44,955 -2.7%
6	BROADCOM INC COM AVGO	AVGO	882,696	$333.4m2.27%	2.27%	Added +32.3k	+32,316 3.8%
7	MICRON TECHNOLOGY INC COM MU	MU	202,775	$234.1m1.59%	1.59%	Reduced -25.6k	-25,565 -11.2%
8	META PLATFORMS INC CL A META	META	366,423	$206.4m1.40%	1.40%	Reduced -7.8k	-7,814 -2.1%
9	ALPHABET INC CAP STK CL C GOOG	GOOG	521,771	$184.4m1.25%	1.25%	Added +15.7k	+15,720 3.1%
10	ADVANCED MICRO DEVICES INC COM AMD	AMD	314,887	$182.9m1.25%	1.25%	Reduced -38.2k	-38,203 -10.8%
11	ELI LILLY & CO COM LLY	LLY	149,662	$179.5m1.22%	1.22%	Reduced -1.2k	-1,183 -0.8%
12	JPMORGAN CHASE & CO COM JPM	JPM	431,535	$141.3m0.96%	0.96%	Added +10.7k	+10,704 2.5%
13	KLA CORP COM NEW KLAC	KLAC	415,250	$125.3m0.85%	0.85%	Reduced -21.5k	-21,500 -4.9%
14	TESLA INC COM TSLA	TSLA	280,124	$117.8m0.80%	0.80%	Reduced -13.0k	-12,988 -4.4%
15	DELL TECHNOLOGIES INC CL C DELL	DELL	268,090	$115.7m0.79%	0.79%	Added +15.9k	+15,860 6.3%
16	CHUBB LIMITED COM CB	CB	299,597	$102.1m0.69%	0.69%	Added +40.0k	+40,010 15.4%
17	VISA INC COM CL A V	V	286,676	$98.4m0.67%	0.67%	Added +800	+800 0.3%
18	QUALCOMM INC COM QCOM	QCOM	480,503	$88.8m0.60%	0.60%	Reduced -37.7k	-37,710 -7.3%
19	CISCO SYS INC COM CSCO	CSCO	742,453	$87.2m0.59%	0.59%	Reduced -151.6k	-151,640 -17.0%
20	TEVA PHARMACEUTICAL INDS LTD SPONSORED ADS SPONSORED ADS		2,481,350	$84.1m0.57%	0.57%	Added +36.0k	+36,050 1.5%
21	APPLIED MATLS INC COM AMAT	AMAT	114,610	$82.9m0.56%	0.56%	Reduced -7.9k	-7,860 -6.4%
22	NXP SEMICONDUCTORS N V COM NXPI	NXPI	293,420	$82.5m0.56%	0.56%	Reduced -8.0k	-7,992 -2.6%
23	ABBVIE INC COM ABBV	ABBV	318,801	$80.2m0.55%	0.55%	Added +28.2k	+28,210 9.7%
24	PARKER-HANNIFIN CORP COM PH	PH	78,383	$76.7m0.52%	0.52%	Added +3.6k	+3,561 4.8%
25	MASTERCARD INCORPORATED CL A MA	MA	144,697	$74.3m0.51%	0.51%	Added +21.3k	+21,280 17.2%
26	MORGAN STANLEY COM NEW MS	MS	346,119	$72.4m0.49%	0.49%	Added +7.1k	+7,090 2.1%
27	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	143,766	$71.9m0.49%	0.49%	Unchanged
28	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	143,900	$68.7m0.47%	0.47%	Added +14.1k	+14,120 10.9%
29	UNITED RENTALS INC COM URI	URI	58,772	$66.6m0.45%	0.45%	Added +1.3k	+1,310 2.3%
30	CUMMINS INC COM CMI	CMI	92,768	$66.2m0.45%	0.45%	Reduced -9.5k	-9,499 -9.3%
31	BANK AMERICA CORP COM BAC	BAC	1,136,429	$64.8m0.44%	0.44%	Added +17.2k	+17,210 1.5%
32	WALMART INC COM WMT	WMT	563,759	$63.9m0.43%	0.43%	Added +3.3k	+3,283 0.6%
33	PHILIP MORRIS INTL INC COM PM	PM	337,888	$61.1m0.42%	0.42%	Added +5.5k	+5,543 1.7%
34	NETFLIX INC COM NFLX	NFLX	839,093	$59.9m0.41%	0.41%	Added +97.0k	+96,978 13.1%
35	BANCO SANTANDER S.A. ADR SAN	SAN	4,259,140	$58.8m0.40%	0.40%	Added +14.9k	+14,930 0.3%
36	HCA HEALTHCARE INC COM HCA	HCA	150,482	$58.7m0.40%	0.40%	Reduced -230	-230 -0.1%
37	TOTALENERGIES SE ACT TTE	TTE	725,500	$56.4m0.38%	0.38%	Reduced -5.7k	-5,730 -0.8%
38	GILEAD SCIENCES INC COM GILD	GILD	440,600	$55.7m0.38%	0.38%	Reduced -173.8k	-173,760 -28.3%
39	ING GROEP N.V. SPONSORED ADR ING	ING	1,773,070	$55.6m0.38%	0.38%	Added +7.7k	+7,690 0.4%
40	JABIL INC COM JBL	JBL	142,274	$54.8m0.37%	0.37%	Reduced -14.1k	-14,140 -9.0%
41	WELLS FARGO CO NEW COM WFC	WFC	660,331	$54.6m0.37%	0.37%	Added +1.6k	+1,601 0.2%
42	SHELL PLC SPON ADS SHEL	SHEL	681,430	$52.8m0.36%	0.36%	Added +10.7k	+10,740 1.6%
43	RIO TINTO PLC SPONSORED ADR RIO	RIO	554,020	$52.6m0.36%	0.36%	Added +8.2k	+8,250 1.5%
44	VALE S A SPONSORED ADS VALE	VALE	3,470,670	$52.2m0.36%	0.36%	Added +47.3k	+47,270 1.4%
45	FIFTH THIRD BANCORP COM FITB	FITB	924,341	$52.1m0.35%	0.35%	Added +153.3k	+153,289 19.9%
46	INTEL CORP COM INTC	INTC	371,695	$51.9m0.35%	0.35%	Added +14.0k	+14,000 3.9%
47	MEDTRONIC PLC SHS MDT	MDT	659,759	$51.6m0.35%	0.35%	Reduced -42.2k	-42,200 -6.0%
48	CITIZENS FINL GROUP INC COM CFG	CFG	726,754	$50.9m0.35%	0.35%	Added +71.1k	+71,120 10.8%
49	UNITEDHEALTH GROUP INC COM UNH	UNH	122,360	$50.9m0.35%	0.35%	Unchanged
50	MITSUBISHI UFJ FINL GROUP IN SPONSORED ADS MUFG	MUFG	2,506,310	$49.9m0.34%	0.34%	Unchanged
51	BANK NEW YORK MELLON CORP COM BNY	BNY	343,154	$49.6m0.34%	0.34%	Added +4.4k	+4,380 1.3%
52	ALTRIA GROUP INC COM MO	MO	672,375	$48.4m0.33%	0.33%	Added +15.3k	+15,340 2.3%
53	JOHNSON & JOHNSON COM JNJ	JNJ	189,024	$48.0m0.33%	0.33%	Unchanged
54	AERCAP HOLDINGS NV SHS AER	AER	327,670	$47.8m0.33%	0.33%	Unchanged
55	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	167,476	$47.1m0.32%	0.32%	Added +2.8k	+2,750 1.7%
56	ORACLE CORP COM ORCL	ORCL	320,631	$47.0m0.32%	0.32%	Added +5.2k	+5,196 1.6%
57	EXXON MOBIL CORP COM XOM	XOM	341,899	$46.7m0.32%	0.32%	Reduced -51.8k	-51,762 -13.2%
58	CITIGROUP INC COM NEW C	C	329,134	$46.1m0.31%	0.31%	Reduced -19.2k	-19,220 -5.5%
59	TECHNIPFMC PLC COM FTI	FTI	692,800	$45.9m0.31%	0.31%	Unchanged
60	HOME DEPOT INC COM HD	HD	130,103	$45.9m0.31%	0.31%	Unchanged
61	BARCLAYS PLC ADR BCS	BCS	1,688,920	$45.4m0.31%	0.31%	Reduced -192.7k	-192,680 -10.2%
62	GE AEROSPACE COM NEW GE	GE	119,911	$44.8m0.31%	0.31%	Added +3.1k	+3,080 2.6%
63	FIRST SOLAR INC COM FSLR	FSLR	187,549	$44.3m0.30%	0.30%	Added +5.2k	+5,170 2.8%
64	AMERICAN EXPRESS CO COM AXP	AXP	130,307	$44.1m0.30%	0.30%	Added +2.5k	+2,490 1.9%
65	TAPESTRY INC COM TPR	TPR	300,689	$44.0m0.30%	0.30%	Added +61.3k	+61,290 25.6%
66	NATWEST GROUP PLC SPONS ADR NWG	NWG	2,490,080	$43.9m0.30%	0.30%	Unchanged
67	NRG ENERGY INC COM NEW NRG	NRG	299,863	$43.8m0.30%	0.30%	Reduced -2.0k	-1,980 -0.7%
68	COSTCO WHSL CORP NEW COM COST	COST	46,745	$43.7m0.30%	0.30%	Unchanged
69	ORIX CORP SPONSORED ADR IX	IX	1,147,000	$43.6m0.30%	0.30%	Unchanged
70	KROGER CO COM KR	KR	782,469	$43.5m0.30%	0.30%	Reduced -84.5k	-84,490 -9.8%
71	LAM RESEARCH CORP COM NEW LRCX	LRCX	98,921	$42.9m0.29%	0.29%	Unchanged
72	BORGWARNER INC COM BWA	BWA	639,599	$42.5m0.29%	0.29%	Added +89.6k	+89,640 16.3%
73	VERIZON COMMUNICATIONS INC COM VZ	VZ	1,002,576	$42.5m0.29%	0.29%	Added +162.5k	+162,490 19.3%
74	AMGEN INC COM AMGN	AMGN	112,278	$40.7m0.28%	0.28%	Reduced -14.0k	-13,970 -11.1%
75	AMPHENOL CORP CL A APH	APH	224,011	$39.5m0.27%	0.27%	Added +48.3k	+48,300 27.5%
76	DICKS SPORTING GOODS INC COM DKS	DKS	173,821	$39.4m0.27%	0.27%	Added +3.7k	+3,680 2.2%
77	CATERPILLAR INC COM CAT	CAT	36,669	$39.0m0.27%	0.27%	Reduced -375	-375 -1.0%
78	TD SYNNEX CORPORATION COM SNX	SNX	143,904	$38.5m0.26%	0.26%	Added +13.7k	+13,660 10.5%
79	GEN DIGITAL INC COM GEN	GEN	1,527,587	$38.0m0.26%	0.26%	Added +445.1k	+445,130 41.1%
80	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	50,875	$38.0m0.26%	0.26%	Reduced -5.4k	-5,400 -9.6%
81	MERCK & CO INC COM MRK	MRK	295,607	$38.0m0.26%	0.26%	Unchanged
82	EATON CORP PLC SHS ETN	ETN	87,653	$37.4m0.25%	0.25%	Added +3.0k	+3,007 3.5%
83	MCKESSON CORP COM MCK	MCK	48,409	$36.6m0.25%	0.25%	Added +1.1k	+1,080 2.3%
84	KB FINL GROUP INC SPONSORED ADR KB	KB	347,200	$36.4m0.25%	0.25%	Unchanged
85	BRITISH AMERN TOB PLC SPONSORED ADR BTI	BTI	589,730	$36.4m0.25%	0.25%	Unchanged
86	NETAPP INC COM NTAP	NTAP	232,233	$35.9m0.24%	0.24%	Reduced -23.5k	-23,460 -9.2%
87	TEXTRON INC COM TXT	TXT	391,769	$35.9m0.24%	0.24%	Added +67.9k	+67,900 21.0%
88	ONEOK INC NEW COM OKE	OKE	411,177	$35.7m0.24%	0.24%	Added +10.5k	+10,470 2.6%
89	CROWN HLDGS INC COM CCK	CCK	319,295	$35.7m0.24%	0.24%	Added +8.2k	+8,160 2.6%
90	BOOKING HOLDINGS INC COM BKNG	BKNG	197,400	$35.2m0.24%	0.24%	Added +3.8k	+3,750 1.9%
91	DOORDASH INC CL A DASH	DASH	189,630	$35.0m0.24%	0.24%	Added +10.9k	+10,900 6.1%
92	TEXAS INSTRS INC COM TXN	TXN	117,347	$35.0m0.24%	0.24%	Added +45.9k	+45,913 64.3%
93	APTIV PLC COM SHS APTV	APTV	569,448	$35.0m0.24%	0.24%	Added +133.9k	+133,890 30.7%
94	SANDISK CORP COM SNDK	SNDK	15,316	$34.8m0.24%	0.24%	Added +4.3k	+4,295 39.0%
95	GOLDMAN SACHS GROUP INC COM GS	GS	34,222	$34.6m0.24%	0.24%	Reduced -3.3k	-3,259 -8.7%
96	CRH PLC ORD CRH	CRH	322,240	$34.5m0.23%	0.23%	Unchanged
97	DAVITA INC COM DVA	DVA	149,717	$33.3m0.23%	0.23%	Reduced -75.5k	-75,460 -33.5%
98	STATE STR CORP COM STT	STT	195,455	$33.1m0.23%	0.23%	Reduced -19.3k	-19,320 -9.0%
99	VEOLIA ENVIRONMENT ADR COM VEOEY	VEOEY	1,524,960	$31.8m0.22%	0.22%	Unchanged
100	SUN LIFE FINANCIAL INC. COM SLF	SLF	403,750	$31.7m0.22%	0.22%	Unchanged

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
HONEYWELL INTL INC		25,522	$11.5m25.5k shares
SK TELECOM CO LTD SKM	SKM	239,810	$7.0m239.8k shares
CARNIVAL CORP		245,446	$6.4m245.4k shares
AEGON LTD AEG	AEG	644,010	$4.7m644.0k shares
GILDAN ACTIVEWEAR INC GIL	GIL	79,590	$4.4m79.6k shares
DEUTSCHE BANK A G DB	DB	127,690	$3.8m127.7k shares
HUBSPOT INC HUBS	HUBS	13,300	$3.2m13.3k shares
BLOOM ENERGY CORP BE	BE	23,130	$3.1m23.1k shares
MASIMO CORP MASI	MASI	14,771	$2.6m14.8k shares
COTERRA ENERGY INC CTRA	CTRA	57,699	$2.0m57.7k shares
CREDO TECHNOLOGY GROUP HOLDI CRDO	CRDO	21,129	$2.0m21.1k shares
DIAGEO PLC DEO	DEO	25,925	$1.9m25.9k shares
AIR LEASE CORP AL	AL	26,325	$1.7m26.3k shares
SEALED AIR CORP NEW		36,896	$1.6m36.9k shares
DUPONT DE NEMOURS INC DWDP	DWDP	10,911	$1.5m10.9k shares
HOLOGIC INC HOLX	HOLX	18,060	$1.4m18.1k shares
NUVALENT INC		11,761	$1.2m11.8k shares
APOGEE THERAPEUTICS INC		12,844	$1.1m12.8k shares
BELLRING BRANDS INC BRBR	BRBR	65,951	$1.1m66.0k shares
REVOLUTION MEDICINES INC RVMD	RVMD	10,824	$1.1m10.8k shares
APELLIS PHARMACEUTICALS INC APLS	APLS	25,000	$1.0m25.0k shares
TRI POINTE HOMES INC TPH	TPH	21,368	$998.0k21.4k shares
MAGNITE INC MGNI	MGNI	76,813	$913.0k76.8k shares
CBIZ INC CBZ	CBZ	28,887	$776.0k28.9k shares
SOLENO THERAPEUTICS INC SLNO	SLNO	20,941	$701.0k20.9k shares