TEACHER RETIREMENT SYSTEM OF TEXAS

Pension

CIK

796848

Location

AUSTIN, TX

Portfolio Value

Large $22,120,733,454

Diversification

Diversified

Filing Date

Global Rank

#258 / 8,623 — · as of Mar 2026

Top Industry

Semiconductors 10.6%

3Y Alpha vs SPY

-1.0%

Period ended 4 months ago

Filed Apr 30, 2026 · 3mo

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+61.8%

SPY

+65.3%

Annualised alpha

-0.8%

Max drawdown

−17.9%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

1,465 tracked positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

6.1%

−0.1 pts

Top 5

20.4%

−1.2 pts

Top 10

27.7%

−2.1 pts

HHI

125

Diversified−11

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	31.0%	$6,860,732,585	231
Financial Services	12.1%	$2,685,174,557	231
Consumer Cyclical	11.4%	$2,512,046,831	174
Industrials	10.9%	$2,405,251,721	228
Healthcare	9.3%	$2,051,672,678	223
Communication Services	7.4%	$1,645,207,828	50
Consumer Defensive	5.8%	$1,272,442,736	74
Real Estate	3.9%	$865,219,203	100
Energy	3.5%	$765,934,571	52
Basic Materials	3.4%	$755,727,096	60
Utilities	1.4%	$300,873,789	41
Unclassified	0.0%	$449,859	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
AMX	America Movil Sab De Cv/	+1,010,000	2,670,300	$68,039,244
KEY	Keycorp /New/	+934,714	965,632	$19,360,921
KVUE	Kenvue Inc.	+729,106	1,867,614	$32,197,665
TOST	Toast, Inc.	+642,251	657,346	$17,426,242
CFG	Citizens Financial Group Inc/Ri	+595,499	609,786	$36,568,866
EQR	Equity Residential	+552,312	1,550,713	$91,724,673
UDR	UDR, Inc.	+425,880	1,195,377	$40,379,835
LVS	Las Vegas Sands Corp	+387,667	742,989	$40,032,247
FCX	Freeport-Mcmoran Inc	+358,923	617,254	$36,282,190
FTNT	Fortinet, Inc.	+343,733	609,044	$49,771,075
NOW	ServiceNow, Inc.	+326,265	645,290	$67,465,069
T	At&T Inc.	+310,327	2,843,501	$82,433,093
IRT	Independence Realty Trust, Inc.	+310,233	881,801	$13,130,016
OTIS	Otis Worldwide Corp	+308,818	448,353	$34,559,049
INVH	Invitation Homes Inc.	+308,094	397,855	$9,886,696
DECK	Deckers Outdoor Corp	+282,405	287,344	$28,760,260
UBER	Uber Technologies, Inc	+281,071	835,225	$60,077,734
C	Citigroup Inc	+274,954	897,008	$101,729,677
PSX	Phillips 66	+268,006	358,832	$65,372,013
MWA	Mueller Water Products, Inc.	+264,167	285,579	$7,850,566
WFC	Wells Fargo & Company/Mn	+233,794	1,442,575	$114,843,395
ILMN	Illumina, Inc.	+218,157	223,243	$27,516,932
NFLX	Netflix Inc	+217,326	1,690,522	$162,543,690
BALL	BALL Corp	+210,344	473,317	$27,977,767
LECO	Lincoln Electric Holdings Inc	+200,818	216,505	$53,927,065
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
CERT	Certara, Inc.	−2,641,814	2,960,963	$16,877,489
SARO	StandardAero, Inc.	−1,961,187	26,080	$673,646
MBC	MasterBrand, Inc.	−1,412,327	299,995	$2,492,958
PFE	Pfizer Inc	−1,040,190	1,469,652	$41,267,828
APG	APi Group Corp	−891,043	1,357,740	$55,015,624
CMCSA	Comcast Corp	−883,402	1,629,492	$46,782,715
F	Ford Motor Co	−493,939	2,574,758	$29,712,707
AMH	American Homes 4 Rent	−430,221	29,261	$816,967
VZ	Verizon Communications Inc	−407,269	1,790,097	$89,862,869
INTC	Intel Corp	−401,952	2,169,961	$95,760,378
HPQ	Hp Inc	−399,282	730,544	$14,033,750
MO	Altria Group, Inc.	−341,309	827,807	$54,626,983
RARE	Ultragenyx Pharmaceutical Inc.	−337,167	11,183	$234,283
DIS	Walt Disney Co	−318,977	317,961	$30,645,081
PYPL	PayPal Holdings, Inc.	−304,708	158,308	$7,160,270
AUNA	Auna S.A.	−300,000	1,584,000	$8,727,840
FLUT	Flutter Entertainment plc	−282,641	2,492	$254,059
WMT	Walmart Inc.	−281,193	1,206,883	$149,991,419
DVN	Devon Energy Corp/De	−276,843	395,803	$19,916,806
BAC	Bank Of America Corp /De/	−263,371	2,341,477	$114,147,003
EMBC	Embecta Corp.	−236,041	41,802	$369,529
FLEX	Flex Ltd.	−236,027	104,362	$6,831,536
GNL	Global Net Lease, Inc.	−231,164	124,602	$1,166,274
RITM	Rithm Capital Corp.	−203,419	83,113	$787,911
NG	Novagold Resources Inc	−200,000	5,176,816	$46,487,807
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
BLK	BlackRock, Inc.	44,172	$42,480,654
VIK	Viking Holdings Ltd	379,119	$27,857,664
OGG	Osisko Gold Group Inc.	6,400,000	$20,800,000
VSNT	Versant Media Group, Inc.	475,222	$17,592,718
RVI	Robinhood Ventures Fund I	600,000	$15,924,000
THM	International Tower Hill Mines Ltd	6,250,000	$14,375,000
APC	ARKO Petroleum Corp.	500,000	$8,945,000
MWH	SOLV Energy, Inc.	250,000	$7,507,500
AGO	Assured Guaranty Ltd	79,473	$6,475,460
EQPT	EquipmentShare.com Inc	300,000	$6,111,000
INVA	Innoviva, Inc.	200,082	$4,661,910
PAYP	PayPay Corp	200,000	$4,268,000
PRA	Proassurance Corp	168,774	$4,172,093
CTLP	Cantaloupe, Inc.	353,445	$3,820,740
MDA	MDA Space Ltd.	150,000	$3,798,000
AGBK	AGI Inc	500,000	$3,635,000
GMTL	Guardian Metal Resources PLC	150,000	$2,622,000
PICS	PicS N.V.	250,000	$2,612,500
UNFI	United Natural Foods Inc	57,714	$2,600,592
TKR	Timken Co	19,131	$1,924,004
DAR	Darling Ingredients Inc.	30,607	$1,893,042
BC	Brunswick Corp	22,545	$1,640,374
BFH	Bread Financial Holdings, Inc.	21,902	$1,640,240
SMG	Scotts Miracle-Gro Co	26,251	$1,596,323
AEO	American Eagle Outfitters Inc	93,088	$1,554,569
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
GLD	Spdr Gold Trust	568,900	$225,460,759
SLV	iShares Silver Trust	1,400,000	$90,188,000
IAUM	iShares Gold Trust Micro	1,300,000	$55,887,000
B	Barrick Mining Corp	700,000	$30,485,000
BROS	Dutch Bros Inc.	476,859	$29,193,307
BL	Blackline, Inc.	475,665	$26,299,517
RBRK	Rubrik, Inc.	326,438	$24,965,978
AEM	Agnico Eagle Mines Ltd	140,000	$23,734,200
WPM	Wheaton Precious Metals Corp.	184,500	$21,682,440
EXAS	EXACT SCIENCES CORP	204,949	$20,814,620
RPM	Rpm International Inc/De/	123,825	$12,877,800
GEN	Gen Digital Inc.	407,000	$11,066,330
MH	McGraw Hill, Inc.	600,000	$9,900,000
PINS	Pinterest, Inc.	340,051	$8,803,920
IT	Gartner Inc	31,211	$7,873,911
CVCO	Cavco Industries, Inc.	12,355	$7,298,592
NIQ	NIQ Global Intelligence plc	401,952	$6,628,188
ALH	Alliance Laundry Holdings Inc.	300,000	$6,105,000
HUBG	Hub Group, Inc.	139,378	$5,938,896
YELP	Yelp Inc	194,495	$5,910,703
BAM	Brookfield Asset Management Ltd.	70,000	$3,667,300
FLY	Firefly Aerospace Inc.	130,831	$2,926,689
ARX	Accelerant Holdings	176,043	$2,878,303
INTA	Intapp, Inc.	58,600	$2,685,052
VRTS	Virtus Investment Partners, Inc.	15,982	$2,607,463
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

1,465 tracked positions · $22,120,733,454 total · filing declares 1,478 positions · $24,004,980,217 · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 1,465 positions by value · page 1 of 30

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
NVDA	Nvidia Corp Technology	Added	7,701,501	+43,680	$1,343,141,774	−6.0%	6.07%
AAPL	Apple Inc. Technology	Reduced	4,658,611	-24,035	$1,182,308,885	−7.1%	5.34%
MSFT	Microsoft Corp Technology	Added	2,234,699	+20,203	$827,218,528	−22.8%	3.74%
AMZN	Amazon Com Inc Consumer Cyclical	Added	2,891,976	+14,300	$602,311,841	−9.3%	2.72%
GOOGL	Alphabet Inc. Communication Services	Added	1,915,085	+27,464	$550,701,842	−6.8%	2.49%
AVGO	Broadcom Inc. Technology	Reduced	1,429,755	-38,459	$442,523,470	−12.9%	2.00%
META	Meta Platforms, Inc. Communication Services	Reduced	690,275	-8,665	$394,927,035	−14.4%	1.79%
TSLA	Tesla, Inc. Consumer Cyclical	Added	784,955	+13,750	$291,807,021	−15.9%	1.32%
LLY	ELI LILLY & Co Healthcare	Added	289,939	+21,045	$266,677,194	−7.7%	1.21%
XOM	ExxonMobil Holdings Corp Energy	Reduced	1,322,843	-29,996	$224,433,543	+37.9%	1.01%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	729,429	-171,239	$214,568,834	−26.1%	0.97%
JNJ	Johnson & Johnson Healthcare	Reduced	823,546	-1,123	$201,307,584	+18.0%	0.91%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	410,348	-9,544	$196,638,761	−6.8%	0.89%
V	Visa Inc. Financial Services	Added	558,754	+66,175	$168,877,808	−2.2%	0.76%
MA	Mastercard Inc Financial Services	Added	333,230	+3,408	$166,501,701	−11.6%	0.75%
NFLX	Netflix Inc Communication Services	Added	1,690,522	+217,326	$162,543,690	+17.7%	0.73%
WMT	Walmart Inc. Consumer Defensive	Reduced	1,206,883	-281,193	$149,991,419	−9.5%	0.68%
GEV	GE Vernova Inc. Industrials	Added	164,382	+24,091	$143,489,047	+56.5%	0.65%
COST	Costco Wholesale Corp /New Consumer Defensive	Added	142,170	+1,741	$141,662,453	+17.0%	0.64%
PLTR	Palantir Technologies Inc. Technology	Added	954,254	+107,077	$139,588,275	−7.3%	0.63%
PG	PROCTER & GAMBLE Co Consumer Defensive	Reduced	954,261	-20,890	$137,833,458	−1.4%	0.62%
KO	Coca Cola Co Consumer Defensive	Reduced	1,736,130	-60,630	$132,032,686	+5.1%	0.60%
CAT	Caterpillar Inc Industrials	Added	178,829	+8,211	$126,693,193	+29.6%	0.57%
GE	General Electric Co Industrials	Reduced	421,759	-38,452	$119,682,551	−15.6%	0.54%
MU	Micron Technology Inc Technology	Added	351,288	+70,078	$118,679,137	+47.9%	0.54%
LRCX	Lam Research Corp Technology	Reduced	547,533	-81,175	$116,985,900	+8.7%	0.53%
WFC	Wells Fargo & Company/Mn Financial Services	Added	1,442,575	+233,794	$114,843,395	+1.9%	0.52%
BAC	Bank Of America Corp /De/ Financial Services	Reduced	2,341,477	-263,371	$114,147,003	−20.3%	0.52%
HD	Home Depot, Inc. Consumer Cyclical	Reduced	322,475	-8,041	$106,058,802	−6.7%	0.48%
AMAT	Applied Materials Inc /De Technology	Added	307,304	+104,280	$105,033,434	+101.3%	0.47%
CSCO	Cisco Systems, Inc. Technology	Added	1,349,530	+3,190	$104,710,032	+1.0%	0.47%
C	Citigroup Inc Financial Services	Added	897,008	+274,954	$101,729,677	+40.1%	0.46%
AG	First Majestic Silver Corp Basic Materials	Reduced	4,732,148	-185,852	$101,646,539	+24.1%	0.46%
PEP	Pepsico Inc Consumer Defensive	Added	653,762	+160,910	$101,522,700	+43.5%	0.46%
ABBV	AbbVie Inc. Healthcare	Reduced	456,420	-133,332	$99,266,785	−26.3%	0.45%
LIN	Linde PLC Basic Materials	Added	199,537	+9,047	$98,922,463	+21.8%	0.45%
MCK	Mckesson Corp Healthcare	Added	111,943	+35,353	$96,870,994	+54.2%	0.44%
IBM	International Business Machines Corp Technology	Added	398,350	+86,091	$96,556,056	+4.4%	0.44%
INTC	Intel Corp Technology	Reduced	2,169,961	-401,952	$95,760,378	+0.9%	0.43%
MCD	Mcdonalds Corp Consumer Cyclical	Added	304,232	+60,309	$94,552,263	+26.8%	0.43%
CVX	Chevron Corp Energy	Reduced	452,316	-53,390	$93,584,180	+21.4%	0.42%
TJX	Tjx Companies Inc /De/ Consumer Cyclical	Reduced	577,652	-11,059	$92,251,024	+2.0%	0.42%
EQR	Equity Residential Real Estate	Added	1,550,713	+552,312	$91,724,673	+45.7%	0.41%
VZ	Verizon Communications Inc Communication Services	Reduced	1,790,097	-407,269	$89,862,869	+0.4%	0.41%
AVB	Avalonbay Communities Inc Real Estate	Added	541,135	+193,067	$88,394,402	+40.1%	0.40%
BAP	Credicorp Ltd Financial Services	Added	257,975	+37,786	$87,499,960	+38.5%	0.40%
MELI	Mercadolibre Inc Consumer Cyclical	Added	50,547	+7,936	$87,396,773	+1.8%	0.40%
AMD	Advanced Micro Devices Inc Technology	Reduced	420,332	-28,828	$85,508,138	−11.1%	0.39%
PM	Philip Morris International Inc. Consumer Defensive	Reduced	512,104	-35,773	$84,671,275	−3.7%	0.38%
T	At&T Inc. Communication Services	Added	2,843,501	+310,327	$82,433,093	+31.0%	0.37%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.