TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY

New 13F: Q3 2026

TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY filed its 13F for the quarter ended Sep 30, 2026 on Nov 10, 2026: $6.0B in AI and semiconductor stocks; $205.7M bought and $293.4M sold against its previous quarter, at the quarter's prices.

TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY declares $5.9B in 166 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 39.9% of its $14.7B 13F portfolio. Largest positions: NVIDIA (0.02% of the company) and Alphabet (0.01% of the company). Over time: $5.9B in 166 of these companies for Q2 2026, against $2.0B in 124 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $130.0M and sold $256.9M of these stocks, at the quarter's prices: a net sale of $127.0M; 3 new positions and 3 sold out.

Performance of its AI picks

The AI-stock portfolio TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY declared for Q2 2026 (Form 13F), held unchanged, returned +3.3% in Q3 2026 (SMH -7.1%), ranked 976 of 1,785 active managers. Over the last 12 months, quarter after quarter: +31.3% (SMH +87.2%), ranked 491 of 1,360 active managers. Over three years, quarter after quarter: +161.7% (SMH +325.8%), ranked 225 of 784 active managers. Trades made during a quarter are not visible in 13F filings: this measures its declared picks, not the return of its funds.

Largest positions

  1. NVIDIA (NVDA): $734.0M, 3.7M shares, 0.02% of the company, 5.0% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  2. Alphabet (GOOGL): $628.8M, 1.8M shares, 0.01% of the company, 4.3% of its portfolio (added this quarter); held since Q4 2019 or earlier
  3. Apple (AAPL): $520.3M, 1.8M shares, 0.01% of the company, 3.5% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  4. Microsoft (MSFT): $407.7M, 1.1M shares, 0.01% of the company, 2.8% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  5. Amazon (AMZN): $392.7M, 1.6M shares, 0.02% of the company, 2.7% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  6. Broadcom (AVGO): $333.4M, 882,696 shares, 0.02% of the company, 2.3% of its portfolio (added this quarter); held since Q4 2019 or earlier
  7. Micron (MU): $234.1M, 202,775 shares, 0.02% of the company, 1.6% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  8. Meta Platforms (META): $206.4M, 366,423 shares, 0.01% of the company, 1.4% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  9. AMD (AMD): $182.9M, 314,887 shares, 0.02% of the company, 1.2% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  10. KLA (KLAC): $125.3M, 415,250 shares, 0.03% of the company, 0.85% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  11. Dell (DELL): $115.7M, 268,090 shares, 0.04% of the company, 0.79% of its portfolio (added this quarter); held since Q4 2021
  12. Qualcomm (QCOM): $88.8M, 480,503 shares, 0.04% of the company, 0.60% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  13. Cisco (CSCO): $87.2M, 742,453 shares, 0.02% of the company, 0.59% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  14. Applied Materials (AMAT): $82.9M, 114,610 shares, 0.01% of the company, 0.56% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier
  15. NXP Semiconductors (NXPI): $82.5M, 293,420 shares, 0.12% of the company, 0.56% of its portfolio (trimmed this quarter); held since Q4 2019 or earlier

By sector

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