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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 | |
|---|---|---|---|---|---|---|
|
MCW
1851
DELISTED
Mister Car Wash
MCW
| – | – |
-12,527
| Closed | -$66.8K |
|
1852
MDU Resources
MDU
$4.32B
| – | – |
-25,434
| Closed | -$453K |
|
1853
MGE Energy Inc
MGEE
$3.07B
| – | – |
-4,785
| Closed | -$403K |
|
1854
Magnite
MGNI
$3.47B
| – | – |
-18,391
| Closed | -$401K |
|
1855
Mirion Technologies
MIR
$3.77B
| – | – |
-27,885
| Closed | -$649K |
|
|
MLNK
1856
DELISTED
MeridianLink
MLNK
| – | – |
-34,737
| Closed | -$692K |
|
|
CALY
1857
Callaway Golf Company
CALY
$2.97B
| – | – |
-18,027
| Closed | -$171K |
|
|
MRC
1858
DELISTED
MRC Global
MRC
| – | – |
-20,892
| Closed | -$301K |
|
|
MRUS
1859
DELISTED
Merus
MRUS
| – | – |
-12,772
| Closed | -$1.2M |
|
1860
Mine Safety
MSA
$7.38B
| – | – |
-4,888
| Closed | -$841K |
|
1861
Madison Square Garden
MSGE
$3.99B
| – | – |
-5,056
| Closed | -$229K |
|
1862
Matador Resources
MTDR
$6.47B
| – | – |
-15,584
| Closed | -$700K |
|
1863
Vail Resorts
MTN
$5.23B
| – | – |
-4,868
| Closed | -$728K |
|
1864
Materion
MTRN
$6B
| – | – |
-2,727
| Closed | -$329K |
|
1865
Minerals Technologies
MTX
$2.28B
| – | – |
-4,172
| Closed | -$259K |
|
1866
Murphy Oil
MUR
$5.07B
| – | – |
-17,818
| Closed | -$506K |
|
1867
Microvast
MVST
$349M
| – | – |
-31,364
| Closed | -$121K |
|
1868
NCR Atleos
NATL
$3.46B
| – | – |
-9,587
| Closed | -$377K |
|
1869
Northeast Bank
NBN
$1.16B
| – | – |
-4,583
| Closed | -$459K |
|
1870
NBT Bancorp
NBTB
$2.76B
| – | – |
-6,818
| Closed | -$285K |
|
1871
nCino
NCNO
$2.05B
| – | – |
-13,589
| Closed | -$368K |
|
1872
Noble Corp
NE
$7.07B
| – | – |
-16,746
| Closed | -$474K |
|
1873
Neogen
NEOG
$2.47B
| – | – |
-27,017
| Closed | -$154K |
|
1874
NeoGenomics
NEO
$2.11B
| – | – |
-16,856
| Closed | -$130K |
|
1875
NextDecade
NEXT
$1.82B
| – | – |
-15,547
| Closed | -$106K |
|
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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.