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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
+8.93%
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
$30B
AUM Growth
+$2.08B
Cap. Flow
+$106M
Cap. Flow %
0.35%
Top 10 Hldgs %
29.35%
Holding
1,792
New
70
Increased
606
Reduced
553
Closed
65

Top Buys

Rank Stock Value
1
FLIN icon
Franklin FTSE India ETF
FLIN
+$200M
2
SHYG icon
iShares 0-5 Year High Yield Corporate Bond ETF
SHYG
+$68.8M
3
PLD icon
Prologis
PLD
+$33.9M
4
VNQ icon
Vanguard Real Estate ETF
VNQ
+$26.4M
5
CVX icon
Chevron
CVX
+$21.1M

Top Sells

Rank Stock Value
1
INDA icon
iShares MSCI India ETF
INDA
+$210M
2
JPST icon
JPMorgan Ultra-Short Income ETF
JPST
+$40.1M
3
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$36.8M
4
FPE icon
First Trust Preferred Securities and Income ETF
FPE
+$32.6M
5
VTI icon
Vanguard Morningstar Total Stock Market ETF
VTI
+$25.9M

Sector Composition

Rank Sector Weight
1 Technology 25.21%
2 Financials 11.75%
3 Consumer Discretionary 8.67%
4 Communication Services 7.17%
5 Industrials 6.87%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WFC icon
51
Wells Fargo
WFC
$266B
$97.2M 0.32%
1,159,632
+6,518
+0.6% +$529K
SE icon
52
Sea Limited
SE
$75B
$97.1M 0.32%
543,203
– –
KO icon
53
Coca-Cola
KO
$377B
$95.7M 0.32%
1,442,944
+47,854
+3% +$3.29M
IBM icon
54
IBM
IBM
$221B
$94.1M 0.31%
333,628
+18,151
+6% +$4.75M
GS icon
55
Goldman Sachs
GS
$305B
$90.9M 0.3%
114,089
-2,000
-2% -$1.48M
AMD icon
56
Advanced Micro Devices
AMD
$803B
$86.5M 0.29%
534,825
-21,691
-4% -$3.5M
CRM icon
57
Salesforce
CRM
$157B
$85.8M 0.29%
361,997
-5,996
-2% -$1.51M
SPGI icon
58
S&P Global
SPGI
$122B
$84.3M 0.28%
173,123
– –
ABT icon
59
Abbott
ABT
$192B
$82.4M 0.27%
614,838
-8,121
-1% -$1.07M
RTX icon
60
RTX Corp
RTX
$296B
$81.8M 0.27%
488,741
+28,857
+6% +$4.48M
UBER icon
61
Uber
UBER
$153B
$81.2M 0.27%
829,240
+101,661
+14% +$9.51M
MRK icon
62
Merck
MRK
$332B
$79.8M 0.27%
951,314
+98,354
+12% +$8.1M
CAT icon
63
Caterpillar
CAT
$394B
$79.8M 0.27%
167,296
+1,743
+1% +$744K
TD icon
64
Toronto Dominion Bank
TD
$204B
$79.6M 0.27%
995,613
-2,200
-0.2% -$165K
UBS icon
65
UBS Group
UBS
$175B
$78.9M 0.26%
1,931,380
+24,552
+1% +$954K
MCD icon
66
McDonald's
MCD
$193B
$77.5M 0.26%
255,167
+6,841
+3% +$2.08M
T icon
67
AT&T
T
$167B
$77.3M 0.26%
2,736,081
+192,167
+8% +$5.46M
CP icon
68
Canadian Pacific Kansas City
CP
$82.2B
$73.8M 0.25%
990,423
-1,500
-0.2% -$115K
DIS icon
69
Walt Disney
DIS
$179B
$71.1M 0.24%
620,893
-24,644
-4% -$2.9M
FALN icon
70
iShares Fallen Angels USD Bond ETF
FALN
$1.61B
$70.7M 0.24%
2,546,500
-882,300
-26% -$24M
MU icon
71
Micron Technology
MU
$1.09T
$69.5M 0.23%
415,375
+31,363
+8% +$4.01M
MS icon
72
Morgan Stanley
MS
$344B
$69.2M 0.23%
435,369
-7,000
-2% -$1.03M
SHYG icon
73
iShares 0-5 Year High Yield Corporate Bond ETF
SHYG
$7.62B
$69.2M 0.23%
+1,597,400
New +$68.8M
TMO icon
74
Thermo Fisher Scientific
TMO
$222B
$68.6M 0.23%
141,398
-7,458
-5% -$3.47M
CNI icon
75
Canadian National Railway
CNI
$77.1B
$67.6M 0.23%
716,537
-1,600
-0.2% -$154K
1 2
3
4 5

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State of Tennessee, Department of Treasury's Q3 2025 Portfolio in Review

As of Q3 2025, State of Tennessee, Department of Treasury held 1,792 positions worth $30B, up 7.4% from $28B the previous quarter. Its ten largest holdings account for 29% of the portfolio.

State of Tennessee, Department of Treasury's Q3 2025 filing shows 70 new, 606 increased, 553 reduced and 65 closed positions. Its largest new stake was Franklin FTSE India ETF: 5,213,024 shares worth $194M. The largest sale was iShares MSCI India ETF, an estimated $210M.

By sector, the portfolio is most concentrated in Technology at 25% of assets, up from 24% a quarter earlier, followed by Financials and Consumer Discretionary.

  • State of Tennessee, Department of Treasury's largest Q3 2025 buy was Franklin FTSE India ETF: 5,213,024 shares worth $194M.
  • State of Tennessee, Department of Treasury added most to Prologis in Q3 2025, an estimated $33.9M increase.
  • State of Tennessee, Department of Treasury's biggest Q3 2025 reduction was iShares MSCI India ETF, cutting an estimated $210M.
  • State of Tennessee, Department of Treasury fully exited First Trust Preferred Securities and Income ETF in Q3 2025, selling an estimated $32.6M.
  • State of Tennessee, Department of Treasury's ten largest holdings make up 29% of its $30B portfolio in Q3 2025.
  • State of Tennessee, Department of Treasury opened 70 new positions and closed 65 in Q3 2025.
  • State of Tennessee, Department of Treasury's portfolio value rose 7.4% quarter-over-quarter to $30B.

Based on State of Tennessee, Department of Treasury's 13F filing for Q3 2025, filed 14 Nov 2025.