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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
KEX icon
701
Kirby Corp
KEX
$7.26B
$3.21M 0.01%
28,299
-5,236
-16% -$549K
LAD icon
702
Lithia Motors
LAD
$8.32B
$3.2M 0.01%
9,477
-2,000
-17% -$619K
ALGM icon
703
Allegro MicroSystems
ALGM
$8.23B
$3.19M 0.01%
93,365
– –
AIZ icon
704
Assurant
AIZ
$13.9B
$3.19M 0.01%
16,143
-276
-2% -$54.2K
AVAV icon
705
AeroVironment
AVAV
$9.59B
$3.18M 0.01%
11,167
-704
-6% -$119K
HAFN icon
706
Hafnia
HAFN
$3.8B
$3.18M 0.01%
634,966
– –
COOP
707
DELISTED
Mr. Cooper
COOP
$3.17M 0.01%
21,229
-2,698
-11% -$346K
G icon
708
Genpact
G
$5.78B
$3.15M 0.01%
71,608
– –
SNV
709
DELISTED
Synovus
SNV
$3.15M 0.01%
60,824
– –
DINO icon
710
HF Sinclair
DINO
$16.3B
$3.15M 0.01%
76,618
– –
LNC icon
711
Lincoln National
LNC
$8.67B
$3.14M 0.01%
90,763
-4,741
-5% -$155K
CORT icon
712
Corcept Therapeutics
CORT
$11.9B
$3.13M 0.01%
42,662
-1,108
-3% -$80.3K
CBSH icon
713
Commerce Bancshares
CBSH
$8.61B
$3.12M 0.01%
52,623
– –
WTFC icon
714
Wintrust Financial
WTFC
$11B
$3.1M 0.01%
25,005
– –
ZION icon
715
Zions Bancorporation
ZION
$10.5B
$3.1M 0.01%
59,639
– –
NNN icon
716
NNN REIT
NNN
$8.87B
$3.1M 0.01%
71,682
– –
CHDN icon
717
Churchill Downs
CHDN
$6.2B
$3.09M 0.01%
30,614
+4,500
+17% +$440K
CVLT icon
718
Commault Systems
CVLT
$6.26B
$3.08M 0.01%
17,679
– –
CHX
719
DELISTED
ChampionX
CHX
$3.06M 0.01%
123,310
+19,058
+18% +$480K
MASI
720
DELISTED
Masimo
MASI
$3.06M 0.01%
18,170
– –
LNT icon
721
Alliant Energy
LNT
$18.2B
$3.05M 0.01%
50,380
-7,323
-13% -$448K
HRB icon
722
H&R Block
HRB
$6.76B
$3.04M 0.01%
55,436
– –
AAL icon
723
American Airlines Group
AAL
$9.97B
$3.04M 0.01%
270,679
– –
NCLH icon
724
Norwegian Cruise Line
NCLH
$8.98B
$3.03M 0.01%
149,333
-255,012
-63% -$4.56M
JXN icon
725
Jackson Financial
JXN
$9.1B
$3.02M 0.01%
34,055
-6,205
-15% -$503K
27 28
29
30 31

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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.