Institution

Teacher Retirement System Of Texas

13F for the quarter to June 30, 2026, filed August 14, 2026 · SEC CIK 796848

Reported value: $37.3bn
Positions we cover: 1,449
Copy, a year: +13.1%
Copy Sharpe ratio: 0.72

How copying its 13F would have done

CopyS&P 500 $10,000 copying Teacher Retirement System Of Texas's filed holdings in companies we cover from August 16, 2013, buying on the first trading day after each 13F was filed and holding until the next, against the S&P 500 (total return). Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −32.3% (S&P 500 −31.8%); beta 1.00; alpha −0.9% a year (t = −1.54); last 12 months +11.9% against +12.1%.

Reported value by quarter

Teacher Retirement System Of Texas: 13F reported value Total value of all positions in each quarter's 13F, as filed (values before 2023 were filed in thousands of dollars and are converted).

View chart data

Period	Reported value
2013-06-30	$11B
2013-09-30	$11.4B
2013-12-31	$11.5B
2014-03-31	$11B
2014-06-30	$12.1B
2014-09-30	$12.1B
2014-12-31	$12.7B
2015-03-31	$12.9B
2015-06-30	$13.3B
2015-09-30	$12.7B
2015-12-31	$13.8B
2016-03-31	$14.8B
2016-06-30	$14.7B
2016-09-30	$14.2B
2016-12-31	$13.9B
2017-03-31	$14B
2017-06-30	$14.5B
2017-09-30	$16.3B
2017-12-31	$15B
2018-03-31	$14.9B
2018-06-30	$15.8B
2018-09-30	$14.3B
2018-12-31	$10.7B
2019-03-31	$11.7B
2019-06-30	$12B
2019-09-30	$11.4B
2019-12-31	$12.8B
2020-03-31	$9.3B
2020-06-30	$12.3B
2020-09-30	$15.5B
2020-12-31	$16.6B
2021-03-31	$18B
2021-06-30	$18.1B
2021-09-30	$18.5B
2021-12-31	$22.3B
2022-03-31	$19.5B
2022-06-30	$14.9B
2022-09-30	$13.8B
2022-12-31	$13.7B
2025-03-31	$24B
2025-06-30	$23.8B
2025-09-30	$24.9B
2025-12-31	$28.9B
2026-03-31	$24B
2026-06-30	$37.3B

Holdings and moves

Company	Share of portfolio	Value	Shares	Change in shares
SPCXSpace Exploration Technologies Corp	6.86%	$2.6bn	14.96M	New
NVDANVIDIA Corporation	4.40%	$1.6bn	8.20M	+6.5% Added
AAPLApple Inc.	4.10%	$1.5bn	5.28M	+13.3% Added
MSFTMicrosoft Corporation	2.50%	$932.8m	2.50M	+11.9% Added
AMZNAmazon	2.17%	$810.0m	3.40M	+17.5% Added
GOOGLAlphabet Inc. (Class A)	2.04%	$758.5m	2.12M	+10.8% Added
AVGOBroadcom	1.61%	$601.4m	1.59M	+11.3% Added
MUMicron Technology	1.24%	$460.1m	398.6K	+13.5% Added
METAMeta Platforms	1.21%	$452.0m	802.4K	+16.2% Added
TSLATesla, Inc.	1.03%	$385.1m	915.7K	+16.7% Added
LLYLilly (Eli)	1.03%	$384.9m	320.9K	+10.7% Added
CEGConstellation Energy	0.95%	$352.6m	1.42M	+2487.7% Added
AMDAdvanced Micro Devices	0.89%	$329.6m	567.3K	+35.0% Added
JPMJPMorgan Chase	0.80%	$298.1m	910.8K	+24.9% Added
AMATApplied Materials	0.67%	$248.0m	343.0K	+11.6% Added
JNJJohnson & Johnson	0.62%	$231.7m	912.3K	+10.8% Added
VVisa Inc.	0.60%	$223.1m	650.3K	+16.4% Added
LRCXLam Research	0.56%	$210.6m	485.9K	−11.2% Reduced
INTCIntel	0.55%	$206.4m	1.48M	−31.9% Reduced
CATCaterpillar Inc.	0.54%	$201.9m	189.6K	+6.0% Added
MAMastercard	0.52%	$191.7m	373.3K	+12.0% Added
WMTWalmart	0.48%	$179.0m	1.58M	+31.0% Added
CSCOCisco	0.47%	$176.4m	1.50M	+11.3% Added
GEVGE Vernova	0.45%	$168.2m	143.2K	−12.9% Reduced
COSTCostco	0.44%	$163.8m	175.1K	+23.2% Added
KLACKLA Corporation	0.41%	$150.7m	499.6K	+831.7% Added
HDThe Home Depot	0.39%	$145.4m	412.3K	+27.9% Added
PGProcter & Gamble	0.39%	$144.7m	987.0K	+3.4% Added
UNHUnitedHealth Group	0.39%	$143.4m	345.1K	+42.1% Added
GEGE Aerospace	0.37%	$138.6m	370.8K	−12.1% Reduced
BACBank of America	0.37%	$136.4m	2.39M	+2.2% Added
KOThe Coca-Cola Company	0.36%	$133.3m	1.64M	−5.5% Reduced
CCitigroup	0.34%	$127.6m	912.0K	+1.7% Added
ABBVAbbVie	0.34%	$125.9m	500.4K	+9.6% Added
STXSeagate Technology	0.33%	$124.5m	129.0K	−32.1% Reduced
NFLXNetflix	0.31%	$116.6m	1.63M	−3.4% Reduced
TXNTexas Instruments	0.30%	$112.3m	376.7K	+2.6% Added
WFCWells Fargo	0.30%	$112.2m	1.36M	−5.9% Reduced
CVXChevron Corporation	0.29%	$107.1m	646.0K	+42.8% Added
PLTRPalantir Technologies Inc.	0.28%	$103.8m	889.6K	−6.8% Reduced
MRKMerck & Co.	0.28%	$103.5m	805.1K	+22.0% Added
PMPhilip Morris International	0.27%	$101.9m	563.4K	+10.0% Added
PSPershing Square Inc.	0.27%	$100.4m	3.05M	New
TJXTJX Companies	0.27%	$100.2m	661.5K	+14.5% Added
LINLinde plc	0.27%	$100.2m	193.1K	−3.2% Reduced
WDCWestern Digital	0.26%	$97.1m	152.0K	−41.2% Reduced
MRVLMarvell Technology	0.26%	$96.2m	322.8K	+113.7% Added
APHAmphenol	0.25%	$94.7m	537.1K	+3.1% Added
RTXRTX Corporation	0.25%	$94.4m	497.5K	+21.8% Added
TMOThermo Fisher Scientific	0.25%	$93.7m	186.9K	+38.7% Added
VMRKVivmark Residential	0.25%	$93.4m	1.38M	−11.3% Reduced
MELIMercadolibre Inc	0.25%	$93.0m	54.8K	+8.3% Added
GSGoldman Sachs	0.24%	$90.8m	89.8K	+54.0% Added
BKNGBooking Holdings	0.24%	$88.7m	497.6K	+2795.2% Added
PEPPepsiCo	0.24%	$87.9m	649.2K	−0.7% Reduced
MCDMcDonald's	0.24%	$87.9m	325.1K	+6.8% Added
IBMIBM	0.23%	$86.7m	308.4K	−22.6% Reduced
PANWPalo Alto Networks	0.22%	$81.4m	238.7K	+52.3% Added
MCKMcKesson	0.22%	$80.6m	106.7K	−4.7% Reduced
AXPAmerican Express	0.21%	$80.3m	237.3K	+0.6% Added
VZVerizon	0.21%	$79.9m	1.89M	+5.4% Added
ADIAnalog Devices	0.21%	$78.9m	198.8K	+9.2% Added
ORCLOracle Corporation	0.21%	$77.5m	528.7K	+8.3% Added
MSMorgan Stanley	0.21%	$76.7m	367.0K	+39.6% Added
FTNTFortinet	0.20%	$76.1m	495.1K	−18.7% Reduced
TBBBBBB Foods Inc	0.19%	$71.6m	1.72M	+56.2% Added
ESSEssex Property Trust	0.19%	$71.1m	243.9K	−0.2%
KEYSKeysight Technologies	0.19%	$71.0m	202.7K	+50.3% Added
ISRGIntuitive Surgical	0.19%	$70.5m	177.3K	+24.5% Added
ANETArista Networks	0.19%	$69.9m	411.3K	−29.8% Reduced
BMYBristol Myers Squibb	0.18%	$68.6m	1.19M	+20.0% Added
VRTXVertex Pharmaceuticals	0.18%	$67.4m	135.6K	+9.1% Added
VLTOVeralto	0.18%	$67.3m	759.0K	+19.9% Added
DELLDell Technologies	0.18%	$66.3m	153.7K	−32.8% Reduced
SNDKSandisk	0.17%	$65.3m	28.7K	−11.1% Reduced
QCOMQualcomm	0.17%	$64.2m	347.5K	+83.6% Added
SCHWCharles Schwab Corporation	0.17%	$63.4m	686.6K	+40.8% Added
ROSTRoss Stores	0.17%	$63.3m	297.6K	+7.2% Added
MOAltria	0.17%	$62.1m	862.9K	+4.2% Added
CMICummins	0.17%	$62.0m	87.0K	+25.9% Added
APPApplovin Corp	0.17%	$61.7m	119.7K	+124.6% Added
MAAMid-America Apartment Communities	0.17%	$61.6m	443.3K	−0.2%
TTTrane Technologies	0.16%	$61.2m	124.7K	+41.0% Added
PGRProgressive Corporation	0.16%	$60.4m	276.3K	+17.8% Added
CBChubb Limited	0.16%	$60.0m	176.1K	+64.0% Added
TAT&T	0.16%	$59.7m	2.88M	+1.4% Added
BNYBNY Mellon	0.16%	$59.0m	408.0K	−6.4% Reduced
CRWDCrowdStrike	0.16%	$58.9m	77.2K	+72.0% Added
ITWIllinois Tool Works	0.16%	$58.4m	215.8K	+35.3% Added
GLWCorning Inc.	0.16%	$58.3m	228.3K	+32.1% Added
DISThe Walt Disney Company	0.15%	$57.6m	598.5K	+88.2% Added
GMGeneral Motors	0.15%	$57.3m	742.8K	−6.5% Reduced
AMXAmerica Movil SAB DE Cv/	0.15%	$57.2m	2.20M	−17.6% Reduced
CVSCVS Health	0.15%	$56.5m	545.8K	−5.4% Reduced
GDGeneral Dynamics	0.15%	$56.4m	159.3K	−10.0% Reduced
TERTeradyne	0.15%	$55.8m	115.3K	−15.3% Reduced
JCIJohnson Controls	0.15%	$55.5m	380.0K	+68.2% Added
WELLWelltower	0.15%	$55.5m	244.6K	+100.1% Added
ORLYO'Reilly Automotive	0.15%	$55.1m	598.4K	+29.3% Added
CICigna	0.15%	$55.0m	199.7K	+96.5% Added
FIXComfort Systems USA	0.14%	$53.5m	27.0K	−17.2% Reduced
VRTVertiv	0.14%	$52.1m	155.7K	−19.5% Reduced
FDXFedEx	0.14%	$51.8m	165.5K	+78.5% Added
WMBWilliams Companies	0.14%	$51.8m	696.5K	−32.9% Reduced
AUAnglogold Ashanti PLC	0.13%	$50.1m	618.9K	0.0%
BLKBlackRock	0.13%	$49.8m	51.8K	+17.3% Added
LECOLincoln Electric Holdings Inc	0.13%	$49.7m	187.3K	−13.5% Reduced
UBERUber	0.13%	$49.6m	687.9K	−17.6% Reduced
UNPUnion Pacific Corporation	0.13%	$49.5m	182.0K	+23.6% Added
AMGNAmgen	0.13%	$49.4m	136.3K	+21.5% Added
LOWLowe's	0.13%	$48.8m	221.2K	+31.6% Added
AONAon plc	0.13%	$48.8m	147.0K	−18.7% Reduced
TELTE Connectivity	0.13%	$48.7m	241.7K	−7.2% Reduced
PHParker Hannifin	0.13%	$48.6m	49.7K	+8.3% Added
UDRUDR, Inc.	0.13%	$48.5m	1.22M	+1.7% Added
ILMNIllumina, Inc.	0.13%	$48.2m	273.9K	+22.7% Added
HONAHoneywell Aerospace	0.13%	$47.6m	215.4K	New
CPTCamden Property Trust	0.13%	$47.3m	413.0K	−0.1%
PSXPhillips 66	0.13%	$47.1m	278.7K	−22.3% Reduced
SYKStryker Corporation	0.13%	$46.7m	148.3K	+5.6% Added
RALRalliant Corp	0.12%	$46.4m	629.9K	−4.6% Reduced
TPRTapestry, Inc.	0.12%	$46.1m	314.8K	+10.3% Added
PFEPfizer	0.12%	$46.0m	1.91M	+29.9% Added
FDXFFedEx Freight	0.12%	$45.7m	302.9K	New
EQIXEquinix	0.12%	$45.7m	43.8K	−15.5% Reduced
AMTAmerican Tower	0.12%	$45.5m	278.0K	−20.0% Reduced
NEMNewmont	0.12%	$45.2m	484.0K	−1.7% Reduced
TGTTarget Corporation	0.12%	$45.2m	346.0K	+86.4% Added
TRVThe Travelers Companies	0.12%	$45.0m	136.5K	−8.0% Reduced
AGFirst Majestic Silver Corp	0.12%	$45.0m	2.65M	−43.9% Reduced
TSMTaiwan Semiconductor Manufacturing Co LTD	0.12%	$44.5m	93.2K	0.0%
ALLAllstate	0.12%	$44.5m	187.1K	+88.2% Added
CMCSAComcast	0.12%	$44.4m	1.81M	+11.0% Added
ADPAutomatic Data Processing	0.12%	$44.2m	197.4K	+22.4% Added
NVRNVR, Inc.	0.12%	$44.0m	6.5K	+8.1% Added
MMM3M	0.12%	$43.9m	271.2K	−2.7% Reduced
DEDeere & Company	0.12%	$43.7m	68.9K	+50.6% Added
SPGSimon Property Group	0.12%	$43.7m	195.3K	−18.4% Reduced
ETNEaton Corporation	0.12%	$43.4m	101.8K	+16.9% Added
SOLSSolstice Advanced Materials Inc.	0.12%	$43.3m	488.5K	−4.0% Reduced
MNSTMonster Beverage	0.12%	$43.0m	447.9K	−37.7% Reduced
CAHCardinal Health	0.12%	$42.8m	180.1K	−13.8% Reduced
HWMHowmet Aerospace	0.12%	$42.7m	158.7K	+128.6% Added
CRMSalesforce	0.11%	$42.0m	267.9K	−35.1% Reduced
SPOTSpotify Technology S.a.	0.11%	$41.8m	91.0K	−5.3% Reduced
AAgilent Technologies	0.11%	$41.7m	313.7K	+4295.5% Added
FTITechnipFMC plc	0.11%	$41.4m	624.9K	+755.5% Added
IONSIonis Pharmaceuticals Inc	0.11%	$41.4m	522.3K	−0.3%
NEENextEra Energy	0.11%	$40.9m	466.2K	+27.1% Added
SYYSysco	0.11%	$40.9m	488.8K	−5.8% Reduced

Company	Bought (value)	Shares
SPCXSpace Exploration Technologies Corp	$2.6bn	14.96M
CEGConstellation Energy	$338.9m	1.36M
AAPLApple Inc.	$179.3m	619.8K
KLACKLA Corporation	$134.6m	446.0K
AMZNAmazon	$120.8m	506.7K
PSPershing Square Inc.	$100.4m	3.05M
NVDANVIDIA Corporation	$99.7m	498.4K
MSFTMicrosoft Corporation	$99.2m	265.9K
BKNGBooking Holdings	$85.6m	480.4K
AMDAdvanced Micro Devices	$85.4m	147.0K
GOOGLAlphabet Inc. (Class A)	$74.1m	207.4K
METAMeta Platforms	$63.2m	112.1K
AVGOBroadcom	$61.3m	162.2K
JPMJPMorgan Chase	$59.4m	181.4K
TSLATesla, Inc.	$55.0m	130.7K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

Company	Sold (value)	Shares
INTCIntel	−$96.6m	−691.8K
WDCWestern Digital	−$68.1m	−106.6K
STXSeagate Technology	−$59.0m	−61.1K
NRGNRG Energy	−$41.4m	−283.6K
PEGAPegasystems Inc	−$41.3m	−1.38M
CBOECboe Global Markets	−$40.3m	−165.9K
AGFirst Majestic Silver Corp	−$35.3m	−2.08M
CRDOCredo Technology Group Holding Ltd	−$33.2m	−122.0K
DELLDell Technologies	−$32.4m	−75.0K
CBRECBRE Group	−$31.4m	−233.1K
NOWServiceNow	−$31.0m	−312.0K
ANETArista Networks	−$29.6m	−174.3K
LRCXLam Research	−$26.7m	−61.6K
MNSTMonster Beverage	−$26.0m	−270.9K
WMBWilliams Companies	−$25.3m	−340.9K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

Company	Value last quarter	Shares
CERTCertara, Inc.	$16.9m	2.96M
UALUnited Airlines Holdings	$16.8m	182.1K
DALDelta Air Lines	$13.8m	207.4K
CLXClorox	$9.0m	86.5K
MWHSolv Energy, Inc.	$7.5m	250.0K
CDWCDW Corporation	$7.3m	60.7K
VRSKVerisk Analytics, Inc.	$7.3m	38.4K
TDSTelephone & Data Systems Inc	$6.1m	146.0K
EQPTEquipmentshare.com Inc	$6.1m	300.0K
CPRTCopart	$5.4m	163.8K
SUISUN Communities Inc	$5.1m	40.6K
WDAYWorkday, Inc.	$4.9m	38.0K
APTVAptiv	$4.4m	62.8K
MKLMarkel Group Inc.	$3.3m	1.7K
MBCMasterbrand, Inc.	$2.5m	300.0K
HOVHovnanian Enterprises Inc	$2.5m	22.5K
XPOXPO, Inc.	$2.4m	12.4K
FNFabrinet	$2.2m	4.2K
SKYWSkywest Inc	$1.6m	16.9K
TPBTurning Point Brands, Inc.	$1.5m	16.8K
JANJanus Living, Inc.	$1.2m	50.0K
IIINInsteel Industries Inc	$1.1m	33.7K
LIFEEthos Technologies Inc.	$1.1m	100.0K
FNFFidelity National Financial, Inc.	$1.1m	23.1K
ZDZiff Davis, Inc.	$1.0m	23.9K
EFOREverforth Inc	$826,652	21.4K
HRTGHeritage Insurance Holdings, Inc.	$817,950	31.2K
BFSTBusiness First Bancshares, Inc.	$778,400	28.8K
SNASnap-on	$724,988	2.0K
TIPTTiptree Inc.	$632,469	37.4K

Technology31.4%
Industrials19.8%
Financials10.2%
Consumer Discretionary9.7%
Health Care8.8%
Communication Services6.3%
Consumer Staples4.9%
Real Estate2.8%
Materials2.4%
Utilities2.1%
Energy1.8%

Share of the value held in companies we cover, by sector.

Period	Copy, a year	S&P 500	Sharpe	S&P 500	Biggest drop	Beta
Whole backtestAugust 16, 2013 to November 2, 2026	+13.1%	+14.1%	0.72	0.78	−32.3%	1.00
2018 onwardsJanuary 5, 2018 to November 2, 2026	+12.1%	+13.9%	0.57	0.66	−32.3%	0.99
Last three yearsNovember 3, 2023 to November 2, 2026	+19.5%	+21.8%	1.07	1.16	−15.3%	0.94
Last yearNovember 7, 2025 to November 2, 2026	+13.7%	+14.2%	0.82	0.84	−8.3%	0.94

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.