# TEACHER RETIREMENT SYSTEM OF TEXAS

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 796848. Source: https://holderbook.com/funds/796848-teacher-retirement-system-of-texas/

- Reported value: $37.3B
- Positions: 1,510
- Weight of the ten largest: 40.8%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $5.3B | 7,762,285 | 14.3% | 19 |
| SPACE EXPLORATION TECHN CORP | [SPCX](https://holderbook.com/stocks/SPCX/) | $2.6B | 14,957,447 | 6.9% | 1 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $1.6B | 8,199,890 | 4.4% | 31 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $1.5B | 5,278,393 | 4.1% | 31 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $932.8M | 2,500,591 | 2.5% | 31 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $810.0M | 3,398,689 | 2.2% | 31 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $758.5M | 2,122,475 | 2.0% | 31 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $601.4M | 1,591,945 | 1.6% | 31 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $573.2M | 1,622,321 | 1.5% | 31 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $473.7M | 632,560 | 1.3% | 19 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $460.1M | 398,575 | 1.2% | 31 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $452.0M | 802,424 | 1.2% | 31 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $385.1M | 915,687 | 1.0% | 27 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $384.9M | 320,915 | 1.0% | 31 |
| PERSHING SQUARE USA LTD | [PSUS](https://holderbook.com/stocks/PSUS/) | $383.9M | 10,270,000 | 1.0% | 1 |
| CONSTELLATION ENERGY CORP | [CEG](https://holderbook.com/stocks/CEG/) | $352.6M | 1,419,507 | 0.9% | 18 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $329.6M | 567,313 | 0.9% | 28 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $298.1M | 910,802 | 0.8% | 31 |
| ISHARES INC | [EMXC](https://holderbook.com/stocks/EMXC/) | $263.9M | 2,579,723 | 0.7% | 5 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $251.5M | 502,536 | 0.7% | 31 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $248.0M | 342,976 | 0.7% | 31 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $231.7M | 912,334 | 0.6% | 31 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $223.1M | 650,316 | 0.6% | 31 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $210.6M | 485,939 | 0.6% | 7 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $206.4M | 1,478,144 | 0.6% | 31 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $204.8M | 1,497,728 | 0.5% | 31 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $201.9M | 189,582 | 0.5% | 31 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $191.7M | 373,334 | 0.5% | 31 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $179.0M | 1,580,681 | 0.5% | 31 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $176.4M | 1,501,542 | 0.5% | 31 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $175.9M | 1,185,799 | 0.5% | 7 |
| VANGUARD INDEX FDS | [VB](https://holderbook.com/stocks/VB/) | $171.9M | 567,165 | 0.5% | 7 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $168.2M | 143,189 | 0.5% | 9 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $163.8M | 175,128 | 0.4% | 31 |
| KLA CORP | [KLAC](https://holderbook.com/stocks/KLAC/) | $150.7M | 499,596 | 0.4% | 31 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $145.4M | 412,326 | 0.4% | 31 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $144.7M | 987,045 | 0.4% | 31 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $143.4M | 345,085 | 0.4% | 31 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $138.6M | 370,794 | 0.4% | 20 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $136.4M | 2,393,625 | 0.4% | 31 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $133.3M | 1,640,629 | 0.4% | 31 |
| CITIGROUP INC | [C](https://holderbook.com/stocks/C/) | $127.6M | 912,002 | 0.3% | 31 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $125.9M | 500,373 | 0.3% | 31 |
| SEAGATE TECHNOLOGY HLDNGS PL | [STX](https://holderbook.com/stocks/STX/) | $124.5M | 129,005 | 0.3% | 6 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $116.6M | 1,633,499 | 0.3% | 31 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $112.3M | 376,664 | 0.3% | 31 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $112.2M | 1,357,939 | 0.3% | 31 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $107.1M | 646,010 | 0.3% | 31 |
| AVALONBAY CMNTYS INC | [AVB](https://holderbook.com/stocks/AVB/) | $105.3M | 557,912 | 0.3% | 31 |
| PALANTIR TECHNOLOGIES INC | [PLTR](https://holderbook.com/stocks/PLTR/) | $103.8M | 889,645 | 0.3% | 21 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $103.5M | 805,085 | 0.3% | 31 |
| PHILIP MORRIS INTL INC | [PM](https://holderbook.com/stocks/PM/) | $101.9M | 563,361 | 0.3% | 31 |
| PERSHING SQUARE INC | - | $100.4M | 3,054,000 | 0.3% | 1 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $100.2M | 661,494 | 0.3% | 31 |
| LINDE PLC | [LIN](https://holderbook.com/stocks/LIN/) | $100.2M | 193,110 | 0.3% | 14 |
| WESTERN DIGITAL CORP | [WDC](https://holderbook.com/stocks/WDC/) | $97.1M | 151,953 | 0.3% | 6 |
| MARVELL TECHNOLOGY INC | [MRVL](https://holderbook.com/stocks/MRVL/) | $96.2M | 322,821 | 0.3% | 21 |
| AMPHENOL CORP | [APH](https://holderbook.com/stocks/APH/) | $94.7M | 537,059 | 0.3% | 26 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $94.4M | 497,543 | 0.3% | 25 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $93.7M | 186,915 | 0.3% | 31 |
| EQUITY RESIDENTIAL | [EQR](https://holderbook.com/stocks/EQR/) | $93.4M | 1,375,034 | 0.3% | 28 |
| MERCADOLIBRE INC | [MELI](https://holderbook.com/stocks/MELI/) | $93.0M | 54,766 | 0.2% | 26 |
| GOLDMAN SACHS GROUP INC | [GS](https://holderbook.com/stocks/GS/) | $90.8M | 89,796 | 0.2% | 31 |
| BOOKING HOLDINGS INC | [BKNG](https://holderbook.com/stocks/BKNG/) | $88.7M | 497,604 | 0.2% | 31 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $87.9M | 649,175 | 0.2% | 31 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $87.9M | 325,059 | 0.2% | 31 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $86.7M | 308,386 | 0.2% | 31 |
| CREDICORP LTD | [BAP](https://holderbook.com/stocks/BAP/) | $85.7M | 219,879 | 0.2% | 16 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $81.4M | 238,721 | 0.2% | 31 |
| MCKESSON CORP | [MCK](https://holderbook.com/stocks/MCK/) | $80.6M | 106,650 | 0.2% | 31 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $80.3M | 237,323 | 0.2% | 31 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $79.9M | 1,887,464 | 0.2% | 31 |
| ANALOG DEVICES INC | [ADI](https://holderbook.com/stocks/ADI/) | $78.9M | 198,762 | 0.2% | 25 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $77.5M | 528,666 | 0.2% | 31 |
| MORGAN STANLEY | [MS](https://holderbook.com/stocks/MS/) | $76.7M | 366,958 | 0.2% | 31 |
| FORTINET INC | [FTNT](https://holderbook.com/stocks/FTNT/) | $76.1M | 495,078 | 0.2% | 31 |
| BBB FOODS INC | [TBBB](https://holderbook.com/stocks/TBBB/) | $71.6M | 1,718,495 | 0.2% | 10 |
| ESSEX PPTY TR INC | [ESS](https://holderbook.com/stocks/ESS/) | $71.1M | 243,869 | 0.2% | 28 |
| KEYSIGHT TECHNOLOGIES INC | [KEYS](https://holderbook.com/stocks/KEYS/) | $71.0M | 202,699 | 0.2% | 31 |
| INTUITIVE SURGICAL INC | [ISRG](https://holderbook.com/stocks/ISRG/) | $70.5M | 177,285 | 0.2% | 25 |
| ARISTA NETWORKS INC | [ANET](https://holderbook.com/stocks/ANET/) | $69.9M | 411,317 | 0.2% | 7 |
| BRISTOL-MYERS SQUIBB CO | [BMY](https://holderbook.com/stocks/BMY/) | $68.6M | 1,190,931 | 0.2% | 31 |
| VERTEX PHARMACEUTICALS INC | [VRTX](https://holderbook.com/stocks/VRTX/) | $67.4M | 135,619 | 0.2% | 29 |
| VERALTO CORP | [VLTO](https://holderbook.com/stocks/VLTO/) | $67.3M | 759,044 | 0.2% | 11 |
| DELL TECHNOLOGIES INC | [DELL](https://holderbook.com/stocks/DELL/) | $66.3M | 153,727 | 0.2% | 31 |
| SANDISK CORP | [SNDK](https://holderbook.com/stocks/SNDK/) | $65.3M | 28,741 | 0.2% | 6 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $64.2M | 347,507 | 0.2% | 31 |
| SCHWAB CHARLES CORP | [SCHW](https://holderbook.com/stocks/SCHW/) | $63.4M | 686,615 | 0.2% | 25 |
| ROSS STORES INC | [ROST](https://holderbook.com/stocks/ROST/) | $63.3M | 297,558 | 0.2% | 31 |
| ALTRIA GROUP INC | [MO](https://holderbook.com/stocks/MO/) | $62.1M | 862,935 | 0.2% | 31 |
| CUMMINS INC | [CMI](https://holderbook.com/stocks/CMI/) | $62.0M | 86,975 | 0.2% | 31 |
| APPLOVIN CORP | [APP](https://holderbook.com/stocks/APP/) | $61.7M | 119,688 | 0.2% | 7 |
| MID-AMER APT CMNTYS INC | [MAA](https://holderbook.com/stocks/MAA/) | $61.6M | 443,284 | 0.2% | 6 |
| TRANE TECHNOLOGIES PLC | [TT](https://holderbook.com/stocks/TT/) | $61.2M | 124,700 | 0.2% | 26 |
| PROGRESSIVE CORP | [PGR](https://holderbook.com/stocks/PGR/) | $60.4M | 276,270 | 0.2% | 31 |
| CHUBB LIMITED | [CB](https://holderbook.com/stocks/CB/) | $60.0M | 176,107 | 0.2% | 31 |
| AT&T INC | [T](https://holderbook.com/stocks/T/) | $59.7M | 2,882,147 | 0.2% | 31 |
| BANK OF NY MELLON CORP | [BNY](https://holderbook.com/stocks/BNY/) | $59.0M | 408,049 | 0.2% | 29 |
| CROWDSTRIKE HLDGS INC | [CRWD](https://holderbook.com/stocks/CRWD/) | $58.9M | 77,239 | 0.2% | 25 |
| ILLINOIS TOOL WKS INC | [ITW](https://holderbook.com/stocks/ITW/) | $58.4M | 215,826 | 0.2% | 26 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +15.0% | +14.8% | +0.2% | 100% |
| Q1 2026 | -3.5% | -4.6% | +1.1% | 100% |
| Q4 2025 | +2.3% | +2.4% | -0.1% | 100% |
| Q3 2025 | +7.4% | +7.8% | -0.4% | 100% |
| Q2 2025 | +10.4% | +10.5% | -0.0% | 100% |
| Q1 2025 | -3.9% | -4.6% | +0.6% | 100% |
| Q4 2024 | +0.6% | +2.1% | -1.5% | 100% |
| Q3 2024 | +6.0% | +5.4% | +0.6% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $37.3B | 1,510 |
| Q1 2026 | $24.0B | 1,478 |
| Q4 2025 | $28.9B | 1,619 |
| Q3 2025 | $24.9B | 2,023 |
| Q2 2025 | $23.8B | 2,054 |
| Q1 2025 | $24.0B | 2,077 |
| Q4 2024 | $27.7B | 1,538 |
| Q3 2024 | $21.0B | 1,484 |
| Q2 2024 | $17.6B | 1,556 |
| Q1 2024 | $15.7B | 1,657 |
| Q4 2023 | $14.6B | 1,769 |
| Q3 2023 | $15.1B | 1,902 |