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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 | |
|---|---|---|---|---|---|---|
626
Labcorp
LH
$26B
| $4.36M | 0.01% |
16,044
-2,047
| -11% | -$544K |
|
627
News Corp Class A
NWSA
$15.7B
| $4.35M | 0.01% |
161,005
-1,146
| -0.7% | -$30.1K |
|
628
EPAM Systems
EPAM
$5.19B
| $4.29M | 0.01% |
20,563
+5,190
| +34% | +$925K |
|
629
Five Below
FIVE
$13.5B
| $4.25M | 0.01% |
22,158
+94
| +0.4% | +$15.3K |
|
630
VeriSign
VRSN
$25.8B
| $4.22M | 0.01% |
17,291
-20,983
| -55% | -$5.27M |
|
631
Essential Utilities
WTRG
$11.4B
| $4.22M | 0.01% |
108,822
-18,610
| -15% | -$732K |
|
632
Coca-Cola Consolidated
COKE
$12.4B
| $4.15M | 0.01% |
27,322
-4,194
| -13% | -$615K |
|
633
JB Hunt Transport Services
JBHT
$26.4B
| $4.15M | 0.01% |
20,470
+11,140
| +119% | +$1.91M |
|
634
Halozyme
HALO
$11.2B
| $4.12M | 0.01% |
57,516
+16,105
| +39% | +$1.08M |
|
635
American Airlines Group
AAL
$9.87B
| $4.11M | 0.01% |
308,915
+38,236
| +14% | +$516K |
|
636
Nutanix
NTNX
$18B
| $4.07M | 0.01% |
103,509
-4,433
| -4% | -$271K |
|
|
DOCU
637
DocuSign
DOCU
$11.7B
| $4.07M | 0.01% |
77,457
-3,317
| -4% | -$229K |
|
638
TTM Technologies
TTMI
$14.6B
| $4.06M | 0.01% |
41,309
-415
| -1% | -$27.1K |
|
639
Ovintiv
OVV
$17.4B
| $4.05M | 0.01% |
93,262
-3,994
| -4% | -$155K |
|
640
NetApp
NTAP
$40.3B
| $4.04M | 0.01% |
41,918
-8,568
| -17% | -$978K |
|
641
CDW
CDW
$17.4B
| $4.03M | 0.01% |
31,915
-410
| -1% | -$60.5K |
|
642
Regal Rexnord
RRX
$11.7B
| $4.02M | 0.01% |
24,892
-1,066
| -4% | -$152K |
|
643
KeyCorp
KEY
$24.9B
| $4M | 0.01% |
185,847
-2,844
| -2% | -$52.9K |
|
644
Armstrong World Industries
AWI
$7.65B
| $3.99M | 0.01% |
21,735
+642
| +3% | +$123K |
|
645
Aramark
ARMK
$16.3B
| $3.99M | 0.01% |
103,668
-4,440
| -4% | -$169K |
|
646
Otis Worldwide
OTIS
$27.6B
| $3.98M | 0.01% |
46,557
-29,759
| -39% | -$2.66M |
|
647
Alexandria Real Estate Equities
ARE
$8.29B
| $3.97M | 0.01% |
72,669
-469
| -0.6% | -$27.6K |
|
|
PR
648
Permian Resources
PR
$18B
| $3.97M | 0.01% |
246,162
-10,544
| -4% | -$142K |
|
649
Valmont Industries
VMI
$9.59B
| $3.97M | 0.01% |
8,901
-327
| -4% | -$133K |
|
650
SouthState Bank Corp
SSB
$10.8B
| $3.96M | 0.01% |
38,728
-1,658
| -4% | -$154K |
|
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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.