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Kentucky Retirement Systems
Steve Willer · Pension Fund · Multi-Strategy
Kentucky Retirement Systems (KRS) is a statutory entity responsible for administering retirement, disability, and health insurance benefits for state and local government employees, state police, and other public workers in Kentucky. Established in 1956 with the creation of the Kentucky Employees Retirement System, the organization expanded in 1958 to include the State Police and County Employees systems. Since 2021, KRS has operated under the administrative umbrella of the Kentucky Public Pensions Authority (KPPA), which manages the investment and daily operations for the funds. KRS oversees the Kentucky Employees Retirement System (KERS) and the State Police Retirement System (SPRS), focusing on managing a diversified portfolio of assets to ensure the long-term solvency of the funds and provide secure benefits to its nearly 444,000 members and retirees.
Simulated Performance
| Metric | Value |
|---|---|
| Total return | +18.7% |
| YTD return | +13.4% |
| Sharpe ratio | 2.01 |
| Win rate | 50% |
| AUM | $2.0B |
| Inception | Oct 1, 2025 |
| Updated | Sep 18, 2026 |
Institution Status
| Field | Value |
|---|---|
| AUM | $2.0B |
| Turnover | Low (<15%) |
| Avg holding | 18 Months |
| Inception | Oct 1, 2025 |
| Website | https://kyret.ky.gov |
Current Holdings
Updated on Sep 18, 2026.
| Ticker | Name | Portfolio % | Return |
|---|---|---|---|
| NVDA | NVIDIA Corporation | 16.5% | +16.1% |
| AAPL | Apple Inc | 14.2% | +28.3% |
| MSFT | Microsoft Corporation | 11.4% | -1.2% |
| GOOGL | Alphabet Inc Class A | 11.1% | +37.2% |
| AMZN | Amazon.com Inc | 7.7% | +13.2% |
| AVGO | Broadcom Inc | 5.3% | +5.2% |
| META | Meta Platforms Inc. | 4.2% | -3.8% |
| MU | Micron Technology Inc | 3.6% | +86.7% |
| TSLA | Tesla Inc | 3.2% | -17.8% |
| JPM | JPMorgan Chase & Co | 3.0% | +11.7% |
| BRK-A | Berkshire Hathaway Inc | 2.9% | +2.7% |
| LLY | Eli Lilly and Company | 2.8% | +25.0% |
| AMD | Advanced Micro Devices Inc | 2.6% | +88.7% |
| XOM | Exxon Mobil Corp | 2.1% | +33.3% |
| JNJ | Johnson & Johnson | 2.0% | +32.7% |
| V | Visa Inc. Class A | 1.9% | +6.1% |
| MA | Mastercard Inc | 1.4% | -1.4% |
| INTC | Intel Corporation | 1.4% | +5.5% |
| WMT | Walmart Inc. Common Stock | 1.4% | +1.3% |
| ABBV | AbbVie Inc | 1.4% | +5.9% |
Recent activity
| Date | Action | Ticker | Weight |
|---|---|---|---|
| Sep 14, 2026 | BUY | INTC | 0.0% → 1.4% |
| Sep 14, 2026 | BUY | JPM | 3.1% → 3.0% |
| Sep 14, 2026 | BUY | AMD | 2.4% → 2.6% |
| Sep 14, 2026 | SELL | ABBV | 1.5% → 1.4% |
| Sep 14, 2026 | SELL | BRK-A | 2.9% → 2.9% |
Investment Style Analysis
Kentucky Retirement Systems is widely recognized for employing a Multi-Strategy strategy. As of Sep 18, 2026, the firm oversees approximately $2.0B in assets under management (AUM). The portfolio demonstrates a clear preference for the Semiconductors and Internet Content & Information sectors, reflecting a high-conviction approach to capital allocation.
Recent Market Moves
During the latest rebalancing period ending Sep 14, Kentucky Retirement Systems made a significant move by increasing exposure to INTC. This adjustment aligns with the fund's dynamic approach to risk management and capital deployment in current market conditions.
Investment Philosophy
The investment philosophy of Kentucky Retirement Systems is centered on a long-term, disciplined approach designed to meet future benefit obligations through prudent risk management and broad asset diversification. The institution views asset allocation as the primary driver of long-term investment performance, strictly adhering to the Prudent Person Rule. Its strategy involves a diversified mix of global equities, core fixed income, specialty credit, private equity, real estate, and real return assets. By balancing active and passive management styles, KRS seeks to achieve or exceed its actuarially assumed rate of return while maintaining the stability and sustainability of the pension and insurance trust funds across varying economic cycles.
Disclaimer
The content provided on this page, including the simulated portfolio performance, holdings analysis, and AI-generated insights, is for informational and educational purposes only. It does not constitute financial advice, investment recommendations, or an offer to buy or sell any securities. All data is derived from historical SEC 13F filings and other public disclosures, which have a reporting lag. The "Simulated Performance" is a hypothetical reconstruction based on past disclosures and does not represent the actual returns of the institution. Past performance is not indicative of future results. Tritonix.ai is not affiliated with Kentucky Retirement Systems.
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Frequently asked questions
How is the simulated portfolio for Kentucky Retirement Systems constructed?
This simulation is powered by Tritonix AI using official SEC filings. We focus on the "Best Ideas" by filtering for only the Top 20 largest holdings and rebalancing them to 100%. The simulation tracks performance starting from Oct 1, 2025. Our AI monitors for updates every Monday to capture major shifts. This concentrated approach highlights the manager's true stock-picking skill and mirrors their actual investment returns.
What is Kentucky Retirement Systems's largest holding?
As of the latest filing, Kentucky Retirement Systems's top position is NVIDIA Corporation (NVDA), representing 16.5% of the portfolio. This reflects a high-conviction bet by the institution.
What is Kentucky Retirement Systems's historical performance and risk profile?
Our simulation indicates a total return of +18.7% with a win rate of 50%. Notably, the portfolio maintains a Sharpe Ratio of 2.01, suggesting an excellent level of risk-adjusted returns compared to the broader market.
What sectors does Kentucky Retirement Systems primarily invest in?
Kentucky Retirement Systems has a strong preference for the Semiconductors sector, which makes up 29.3% of their disclosed assets. The portfolio also has exposure to Internet Content & Information, indicating a specific thematic focus.
Is Kentucky Retirement Systems's portfolio concentrated or diversified?
Kentucky Retirement Systems runs a moderately concentrated portfolio with 20 disclosed positions. The top 3 holdings alone account for 42.0% of the total portfolio weight, suggesting a strategy that favors broader market exposure.
How has Kentucky Retirement Systems performed in 2026?
Our AI-simulated model portfolio for Kentucky Retirement Systems tracks a Year-to-Date (YTD) return of +13.4%. This metric helps investors gauge the institution's effectiveness in the current market environment.
Does Steve Willer manage Kentucky Retirement Systems directly?
Yes, Steve Willer serves as the key portfolio manager for Kentucky Retirement Systems, overseeing the investment strategy and final capital allocation decisions.