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State of Tennessee, Department of Treasury

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
+13.04%
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
$28B
AUM Growth
+$1.89B
Cap. Flow
-$694M
Cap. Flow %
-2.48%
Top 10 Hldgs %
29.49%
Holding
1,782
New
63
Increased
481
Reduced
719
Closed
60

Top Buys

Rank Stock Value
1
PLD icon
Prologis
PLD
+$28.9M
2
COIN icon
Coinbase
COIN
+$16.3M
3
COF icon
Capital One
COF
+$16M
4
MCD icon
McDonald's
MCD
+$15.8M
5
FALN icon
iShares Fallen Angels USD Bond ETF
FALN
+$15.4M

Top Sells

Rank Stock Value
1
MBB icon
iShares MBS ETF
MBB
+$233M
2
TLT icon
iShares 20+ Year Treasury Bond ETF
TLT
+$202M
3
NVDA icon
NVIDIA
NVDA
+$33.5M
4
ICLR icon
Icon
ICLR
+$28.6M
5
MSFT icon
Microsoft
MSFT
+$27.9M

Sector Composition

Rank Sector Weight
1 Technology 24.16%
2 Financials 11.97%
3 Consumer Discretionary 8.55%
4 Industrials 7.22%
5 Communication Services 6.88%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPXC icon
626
SPX Corp
SPXC
$10.6B
$3.79M 0.01%
22,609
+605
+3% +$88.6K
CUK
627
DELISTED
Carnival PLC
CUK
$3.78M 0.01%
148,156
-18,385
-11% -$356K
BLD
628
DELISTED
TopBuild
BLD
$3.78M 0.01%
11,671
– –
SWK icon
629
Stanley Black & Decker
SWK
$15.4B
$3.77M 0.01%
55,681
+12,317
+28% +$795K
JEF icon
630
Jefferies Financial Group
JEF
$12.9B
$3.77M 0.01%
68,857
– –
RRX icon
631
Regal Rexnord
RRX
$11.4B
$3.76M 0.01%
25,958
– –
WING icon
632
Wingstop
WING
$3.1B
$3.76M 0.01%
11,171
-500
-4% -$148K
CHD icon
633
Church & Dwight Co
CHD
$24B
$3.74M 0.01%
38,934
-24,144
-38% -$2.38M
SSB icon
634
SouthState Bank Corp
SSB
$10.8B
$3.72M 0.01%
40,386
– –
OVV icon
635
Ovintiv
OVV
$17.2B
$3.7M 0.01%
97,256
– –
ZBH icon
636
Zimmer Biomet
ZBH
$19B
$3.69M 0.01%
40,446
-47,606
-54% -$4.6M
BRBR icon
637
BellRing Brands
BRBR
$1.28B
$3.67M 0.01%
63,426
– –
AIT icon
638
Applied Industrial Technologies
AIT
$13.2B
$3.66M 0.01%
15,764
– –
UGI icon
639
UGI
UGI
$7.56B
$3.65M 0.01%
100,199
-22,043
-18% -$758K
AWI icon
640
Armstrong World Industries
AWI
$7.68B
$3.65M 0.01%
22,445
+503
+2% +$74.7K
BLDR icon
641
Builders FirstSource
BLDR
$7.91B
$3.64M 0.01%
31,204
+16,379
+110% +$1.89M
SEIC icon
642
SEI Investments
SEIC
$12.8B
$3.64M 0.01%
40,498
– –
HLI icon
643
Houlihan Lokey
HLI
$9.24B
$3.64M 0.01%
20,205
– –
MLI icon
644
Mueller Industries
MLI
$14.7B
$3.63M 0.01%
91,398
-13,866
-13% -$523K
EXPD icon
645
Expeditors International
EXPD
$24.3B
$3.62M 0.01%
31,716
-865
-3% -$96.9K
PCTY icon
646
Paylocity
PCTY
$8.1B
$3.58M 0.01%
19,750
– –
ENPH icon
647
Enphase Energy
ENPH
$5.39B
$3.58M 0.01%
90,219
+55,491
+160% +$2.56M
PLNT icon
648
Planet Fitness
PLNT
$3.71B
$3.56M 0.01%
32,677
-3,600
-10% -$361K
MTG icon
649
MGIC Investment
MTG
$6.33B
$3.55M 0.01%
127,575
-5,746
-4% -$148K
HALO icon
650
Halozyme
HALO
$11.4B
$3.54M 0.01%
68,116
+4,495
+7% +$256K
24 25
26
27 28

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State of Tennessee, Department of Treasury's Q2 2025 Portfolio in Review

As of Q2 2025, State of Tennessee, Department of Treasury held 1,782 positions worth $28B, up 7.3% from $26.1B the previous quarter. Its ten largest holdings account for 29% of the portfolio.

State of Tennessee, Department of Treasury's Q2 2025 filing shows 63 new, 481 increased, 719 reduced and 60 closed positions. Its largest new stake was Coinbase: 69,843 shares worth $24.5M. The largest sale was iShares MBS ETF, an estimated $233M.

By sector, the portfolio is most concentrated in Technology at 24% of assets, up from 22% a quarter earlier, followed by Financials and Consumer Discretionary.

  • State of Tennessee, Department of Treasury's largest Q2 2025 buy was Coinbase: 69,843 shares worth $24.5M.
  • State of Tennessee, Department of Treasury added most to Prologis in Q2 2025, an estimated $28.9M increase.
  • State of Tennessee, Department of Treasury's biggest Q2 2025 reduction was iShares MBS ETF, cutting an estimated $233M.
  • State of Tennessee, Department of Treasury fully exited iShares 20+ Year Treasury Bond ETF in Q2 2025, selling an estimated $202M.
  • State of Tennessee, Department of Treasury's ten largest holdings make up 29% of its $28B portfolio in Q2 2025.
  • State of Tennessee, Department of Treasury opened 63 new positions and closed 60 in Q2 2025.
  • State of Tennessee, Department of Treasury's portfolio value rose 7.3% quarter-over-quarter to $28B.

Based on State of Tennessee, Department of Treasury's 13F filing for Q2 2025, filed 15 Aug 2025.