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State of Tennessee, Department of Treasury Portfolio holdings
AUM
$29.8B
1-Year Est. Return
29.48%
This Fund
S&P 500
This Quarter
Est. Return
+4.74%
1 Year Est. Return
+29.48%
3 Year Est. Return
+87.58%
5 Year Est. Return
+114.9%
10 Year Est. Return
+444.03%
AUM
$31.3B
AUM Growth
+$1.24B
(+4.1%)
Cap. Flow
-$287M
Cap. Flow
% of AUM
-0.92%
Top 10 Holdings %
Top 10 Hldgs %
28.36%
Holding
1,819
New
92
Increased
472
Reduced
1,140
Closed
92
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
TSMC
TSM
|
+$211M |
| 2 |
Applovin
APP
|
+$43.1M |
| 3 |
Sea Limited
SE
|
+$26M |
| 4 |
TotalEnergies
TTE
|
+$25.5M |
| 5 |
CRH
CRH
|
+$25.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Taiwan ETF
EWT
|
+$244M |
| 2 |
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
|
+$88.6M |
| 3 |
iShares 0-5 Year High Yield Corporate Bond ETF
SHYG
|
+$69.2M |
| 4 |
Ferrari
RACE
|
+$54.5M |
| 5 |
iShares MSCI India ETF
INDA
|
+$43.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 24.95% |
| 2 | Financials | 11.36% |
| 3 | Consumer Discretionary | 8.16% |
| 4 | Communication Services | 7.8% |
| 5 | Industrials | 7.09% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
501
APi Group
APG
$18.9B
| $6.66M | 0.02% |
160,291
+475
| +0.3% | +$17.6K |
|
502
Cellebrite
CLBT
$2.7B
| $6.44M | 0.02% |
437,488
+146
| +0% | +$2.62K |
|
503
Williams-Sonoma
WSM
$28.6B
| $6.43M | 0.02% |
31,418
-11,461
| -27% | -$2.15M |
|
504
Ball Corp
BALL
$16.3B
| $6.41M | 0.02% |
112,752
-19,907
| -15% | -$980K |
|
505
Cincinnati Financial
CINF
$26.6B
| $6.39M | 0.02% |
39,735
-14,322
| -26% | -$2.32M |
|
506
MasTec
MTZ
$23.4B
| $6.37M | 0.02% |
26,474
-1,133
| -4% | -$238K |
|
507
Ares Management
ARES
$32.9B
| $6.35M | 0.02% |
+42,399
| New | +$6.61M |
|
508
Ralph Lauren
RL
$23.1B
| $6.33M | 0.02% |
17,924
+281
| +2% | +$95.8K |
|
509
Penumbra
PEN
$12.9B
| $6.33M | 0.02% |
17,673
+6,744
| +62% | +$1.86M |
|
510
Hubbell
HUBB
$27.1B
| $6.33M | 0.02% |
12,972
-159
| -1% | -$69.7K |
|
|
Q
511
Qnity Electronics Inc
Q
$29.8B
| $6.32M | 0.02% |
+65,679
| New | +$5.58M |
|
512
Texas Pacific Land
TPL
$24.8B
| $6.31M | 0.02% |
18,114
+3,126
| +21% | +$955K |
|
513
Steel Dynamics
STLD
$37.5B
| $6.27M | 0.02% |
34,914
-45,976
| -57% | -$7.3M |
|
514
Synchrony
SYF
$26.2B
| $6.27M | 0.02% |
86,272
-79,227
| -48% | -$6.06M |
|
515
Mettler-Toledo International
MTD
$28.2B
| $6.23M | 0.02% |
4,536
-871
| -16% | -$1.22M |
|
516
NVR
NVR
$16.9B
| $6.21M | 0.02% |
813
-80
| -9% | -$598K |
|
517
Okta
OKTA
$25.9B
| $6.2M | 0.02% |
73,424
-3,145
| -4% | -$274K |
|
518
Principal Financial Group
PFG
$24.6B
| $6.18M | 0.02% |
65,219
-40,372
| -38% | -$3.41M |
|
519
Fox Class B
FOX
$25.5B
| $6.17M | 0.02% |
94,040
-29,002
| -24% | -$1.69M |
|
520
East-West Bancorp
EWBC
$18.8B
| $6.15M | 0.02% |
53,755
-2,302
| -4% | -$244K |
|
521
DuPont de Nemours
DD
$19.7B
| $6.13M | 0.02% |
46,487
-104,812
| -69% | -$11.8M |
|
522
CACI
CACI
$14.8B
| $6.12M | 0.02% |
9,863
-422
| -4% | -$238K |
|
523
Expeditors International
EXPD
$24.6B
| $6.08M | 0.02% |
37,902
-5,855
| -13% | -$797K |
|
524
PTC
PTC
$16.4B
| $6.03M | 0.02% |
38,629
-3,781
| -9% | -$703K |
|
525
RBC Bearings
RBC
$17.7B
| $6.02M | 0.02% |
12,043
-1,663
| -12% | -$704K |
|
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PCH
N
State of Tennessee, Department of Treasury's Q4 2025 Portfolio in Review
As of Q4 2025, State of Tennessee, Department of Treasury held 1,819 positions worth $31.3B, up 4.1% from $30B the previous quarter. Its ten largest holdings account for 28% of the portfolio.
State of Tennessee, Department of Treasury's Q4 2025 filing shows 92 new, 472 increased, 1,140 reduced and 92 closed positions. Its largest new stake was TSMC: 718,960 shares worth $238M. The largest sale was iShares MSCI Taiwan ETF, an estimated $244M.
By sector, the portfolio is most concentrated in Technology at 25% of assets, down from 25% a quarter earlier, followed by Financials and Consumer Discretionary.
- State of Tennessee, Department of Treasury's largest Q4 2025 buy was TSMC: 718,960 shares worth $238M.
- State of Tennessee, Department of Treasury added most to Applovin in Q4 2025, an estimated $43.1M increase.
- State of Tennessee, Department of Treasury's biggest Q4 2025 reduction was iShares MSCI Taiwan ETF, cutting an estimated $244M.
- State of Tennessee, Department of Treasury fully exited iShares 0-5 Year High Yield Corporate Bond ETF in Q4 2025, selling an estimated $69.2M.
- State of Tennessee, Department of Treasury's ten largest holdings make up 28% of its $31.3B portfolio in Q4 2025.
- State of Tennessee, Department of Treasury opened 92 new positions and closed 92 in Q4 2025.
- State of Tennessee, Department of Treasury's portfolio value rose 4.1% quarter-over-quarter to $31.3B.
Based on State of Tennessee, Department of Treasury's 13F filing for Q4 2025, filed 18 Feb 2026.