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Teacher Retirement System of Texas Portfolio holdings
AUM
$24B
1-Year Est. Return
29.51%
This Fund
S&P 500
This Quarter
Est. Return
+3.9%
1 Year Est. Return
+29.51%
3 Year Est. Return
+100.24%
5 Year Est. Return
+137.09%
10 Year Est. Return
+490.06%
AUM
$28.9B
AUM Growth
+$4.04B
(+16%)
Cap. Flow
+$3.44B
Cap. Flow
% of AUM
11.89%
Top 10 Holdings %
Top 10 Hldgs %
38.19%
Holding
2,058
New
35
Increased
464
Reduced
1,109
Closed
439
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard S&P 500 ETF
VOO
|
+$2.56B |
| 2 |
NVIDIA
NVDA
|
+$146M |
| 3 |
Apple
AAPL
|
+$125M |
| 4 |
Microsoft
MSFT
|
+$116M |
| 5 |
SPDR Gold Trust
GLD
|
+$111M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Illumina
ILMN
|
+$60.9M |
| 2 |
VanEck Gold Miners ETF
GDX
|
+$60.5M |
| 3 |
BJs Wholesale Club
BJ
|
+$48.8M |
| 4 |
SNDK
Sandisk
SNDK
|
+$42.2M |
| 5 |
Nasdaq
NDAQ
|
+$39.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 26.03% |
| 2 | Consumer Discretionary | 9.64% |
| 3 | Financials | 9.33% |
| 4 | Healthcare | 8.06% |
| 5 | Industrials | 7.91% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
SLNO
1401
DELISTED
Soleno Therapeutics
SLNO
| $309K | ﹤0.01% |
6,669
-2,998
| -31% | -$164K |
|
1402
Black Hills Corp
BKH
$5.64B
| $308K | ﹤0.01% |
4,432
-6,796
| -61% | -$458K |
|
1403
Liquidia Corp
LQDA
$6.45B
| $307K | ﹤0.01% |
8,914
-6,764
| -43% | -$193K |
|
1404
Towne Bank
TOWN
$3.5B
| $307K | ﹤0.01% |
9,212
-11,105
| -55% | -$374K |
|
1405
Interparfums
IPAR
$3.7B
| $307K | ﹤0.01% |
3,615
-1,801
| -33% | -$159K |
|
1406
Apple Hospitality REIT
APLE
$3.75B
| $305K | ﹤0.01% |
25,759
-6,120
| -19% | -$71.8K |
|
1407
First Community Bankshares
FCBC
$933M
| $305K | ﹤0.01% |
9,048
-1,646
| -15% | -$55K |
|
1408
SiriusPoint
SPNT
$2.7B
| $304K | ﹤0.01% |
13,880
-20,766
| -60% | -$416K |
|
1409
Blue Owl Capital
OWL
$19.7B
| $303K | ﹤0.01% |
20,310
-57,570
| -74% | -$900K |
|
1410
Rexford Industrial Realty
REXR
$8.12B
| $303K | ﹤0.01% |
7,829
-24,260
| -76% | -$1M |
|
1411
Element Solutions
ESI
$9.51B
| $303K | ﹤0.01% |
12,105
-19,935
| -62% | -$518K |
|
1412
American Financial Group
AFG
$12.1B
| $302K | ﹤0.01% |
2,211
-6,540
| -75% | -$897K |
|
1413
Coursera
COUR
$1.53B
| $302K | ﹤0.01% |
41,047
+17,441
| +74% | +$152K |
|
1414
Arcus Biosciences
RCUS
$3.67B
| $301K | ﹤0.01% |
12,649
-4,127
| -25% | -$84.2K |
|
|
CIVI
1415
DELISTED
Civitas Resources
CIVI
| $300K | ﹤0.01% |
11,075
+734
| +7% | +$21.2K |
|
1416
Viridian Therapeutics
VRDN
$2.49B
| $300K | ﹤0.01% |
9,626
-4,407
| -31% | -$121K |
|
1417
MaxLinear
MXL
$6.95B
| $296K | ﹤0.01% |
16,978
-15,446
| -48% | -$251K |
|
|
AVNS
1418
DELISTED
Avanos Medical
AVNS
| $296K | ﹤0.01% |
26,320
-2,530
| -9% | -$28.9K |
|
1419
Nuvation Bio
NUVB
$2.14B
| $295K | ﹤0.01% |
32,914
-13,104
| -28% | -$81.2K |
|
1420
Texas Capital Bancshares
TCBI
$4.38B
| $294K | ﹤0.01% |
3,250
-3,899
| -55% | -$342K |
|
1421
D-Wave Quantum Inc. Common Stock
QBTS
$7.78B
| $293K | ﹤0.01% |
11,204
-29,124
| -72% | -$848K |
|
1422
Amneal Pharmaceuticals
AMRX
$6.02B
| $292K | ﹤0.01% |
23,197
-15,233
| -40% | -$174K |
|
1423
TPG
TPG
$8.86B
| $290K | ﹤0.01% |
4,543
-12,621
| -74% | -$745K |
|
1424
LivaNova
LIVN
$4.53B
| $290K | ﹤0.01% |
4,713
-2,409
| -34% | -$138K |
|
1425
Vera Therapeutics
VERA
$2.08B
| $290K | ﹤0.01% |
5,722
-4,469
| -44% | -$159K |
|
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Teacher Retirement System of Texas's Q4 2025 Portfolio in Review
As of Q4 2025, Teacher Retirement System of Texas held 2,058 positions worth $28.9B, up 16% from $24.9B the previous quarter. Its ten largest holdings account for 38% of the portfolio.
Teacher Retirement System of Texas deployed $3.44B of net new capital in Q4 2025, opening 35 new positions and adding to 464 existing holdings. Its largest new stake was TSMC: 93,243 shares worth $28.3M.
By sector, the portfolio is most concentrated in Technology at 26% of assets, down from 27% a quarter earlier, followed by Consumer Discretionary and Financials.
On the sell side, the largest reduction was Illumina, an estimated $60.9M trimmed.
- Teacher Retirement System of Texas's largest Q4 2025 buy was TSMC: 93,243 shares worth $28.3M.
- Teacher Retirement System of Texas added most to Vanguard S&P 500 ETF in Q4 2025, an estimated $2.56B increase.
- Teacher Retirement System of Texas's biggest Q4 2025 reduction was Illumina, cutting an estimated $60.9M.
- Teacher Retirement System of Texas fully exited Burford Capital in Q4 2025, selling an estimated $23.5M.
- Teacher Retirement System of Texas's ten largest holdings make up 38% of its $28.9B portfolio in Q4 2025.
- Teacher Retirement System of Texas opened 35 new positions and closed 439 in Q4 2025.
- Teacher Retirement System of Texas's portfolio value rose 16% quarter-over-quarter to $28.9B.
Based on Teacher Retirement System of Texas's 13F filing for Q4 2025, filed 28 Jan 2026.