1y return+18.8%S&P 500 +20.9%
3y return+60.1%S&P 500 +68.5%
5y return+55.5%S&P 500 +74.5%
10y return+196.4%S&P 500 +256.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since June 30, 2016: $296 against $357 in the S&P 500.2
Teacher Retirement System Of TexasS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| VOOVanguard Index Fds | $5.3B | 14.3% | +816.6% |
| SPCXSpace Exploration Techn Corp | $2.6B | 6.9% | New |
| NVDANvidia Corporation | $1.6B | 4.4% | +6.5% |
| AAPLApple Inc | $1.5B | 4.1% | +13.3% |
| MSFTMicrosoft Corp | $932.8M | 2.5% | +11.9% |
| AMZNAmazon Com Inc | $810.0M | 2.2% | +17.5% |
| GOOGLAlphabet Inc | $758.5M | 2.0% | +10.8% |
| AVGOBroadcom Inc | $601.4M | 1.6% | +11.3% |
| GOOGAlphabet Inc | $573.2M | 1.5% | +8.3% |
| IVVIshares Tr | $473.7M | 1.3% | |
| MUMicron Technology Inc | $460.1M | 1.2% | +13.5% |
| METAMeta Platforms Inc | $452.0M | 1.2% | +16.2% |
| TSLATesla Inc | $385.1M | 1.0% | +16.7% |
| LLYEli Lilly & Co | $384.9M | 1.0% | +10.7% |
| PSUSPershing Square Usa Ltd | $383.9M | 1.0% | New |
| CEGConstellation Energy Corp | $352.6M | 0.9% | +2487.7% |
| AMDAdvanced Micro Devices Inc | $329.6M | 0.9% | +35.0% |
| JPMJpmorgan Chase & Co | $298.1M | 0.8% | +24.9% |
| EMXCIshares Inc | $263.9M | 0.7% | −14.1% |
| BRK/BBerkshire Hathaway Inc Del | $251.5M | 0.7% | +22.5% |
| AMATApplied Matls Inc | $248.0M | 0.7% | +11.6% |
| JNJJohnson & Johnson | $231.7M | 0.6% | +10.8% |
| VVisa Inc | $223.1M | 0.6% | +16.4% |
| LRCXLam Research Corp | $210.6M | 0.6% | −11.2% |
| INTCIntel Corp | $206.4M | 0.6% | −31.9% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| NVDANvidia Corporation | June 30, 2020 | +2006.7% | $1.6B |
| AVGOBroadcom Inc | June 30, 2020 | +1096.9% | $601.4M |
| AMATApplied Matls Inc | June 30, 2020 | +1096.1% | $248.0M |
| AMDAdvanced Micro Devices Inc | June 30, 2020 | +1004.1% | $329.6M |
| CATCaterpillar Inc | June 30, 2020 | +741.8% | $201.9M |
| LLYEli Lilly & Co | June 30, 2020 | +630.6% | $384.9M |
| GEVGe Vernova Inc | June 30, 2024 | +585.0% | $168.2M |
| LRCXLam Research Corp | December 31, 2024 | +499.9% | $210.6M |
| GOOGLAlphabet Inc | June 30, 2020 | +404.0% | $758.5M |
| GOOGAlphabet Inc | June 30, 2020 | +399.9% | $573.2M |
Sold off last quarter
- Honeywell Intl IncCUSIP 438516106 was $48.8M
- CERTCertara Inc was $16.9M
- UALUnited Airls Hldgs Inc was $16.8M
- DALDelta Air Lines Inc was $13.8M
- CLXClorox Co Del was $9.0M
- Auna S ACUSIP L0415A103 was $8.7M
- MWHSolv Energy Inc was $7.5M
- CDWCdw Corp was $7.3M
- VRSKVerisk Analytics Inc was $7.3M
- TDSTelephone & Data Sys Inc was $6.1M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +12.3% | +14.8% |
| March 31, 2026 | −3.5% | −4.6% |
| December 31, 2025 | +2.3% | +2.4% |
| September 30, 2025 | +7.2% | +7.8% |
| June 30, 2025 | +10.0% | +10.5% |
| March 31, 2025 | −3.9% | −4.6% |
| December 31, 2024 | +0.6% | +2.1% |
| September 30, 2024 | +6.0% | +5.4% |
| June 30, 2024 | +1.8% | +4.0% |
| March 31, 2024 | +9.3% | +10.0% |
| December 31, 2023 | +11.4% | +11.2% |
| September 30, 2023 | −3.5% | −3.6% |
| June 30, 2023 | +7.0% | +8.3% |
| March 31, 2023 | +6.0% | +7.0% |
| December 31, 2022 | +7.6% | +7.1% |
| September 30, 2022 | −5.6% | −5.3% |
| June 30, 2022 | −16.0% | −16.5% |
| March 31, 2022 | −5.9% | −4.9% |
| December 31, 2021 | +8.1% | +10.7% |
| September 30, 2021 | −1.4% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Teacher Retirement System Of Texas Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=796848&type=13F-HR&dateb=&owner=include&count=40CIK 796848
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/796848/000079684826000010/Filed August 14, 2026 · accession 0000796848-26-000010