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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
CAT icon
76
Caterpillar
CAT
$393B
$64.3M 0.23%
165,553
-17,347
-9% -$5.78M
ADBE icon
77
Adobe
ADBE
$104B
$63.9M 0.23%
165,087
-5,040
-3% -$1.94M
AXP icon
78
American Express
AXP
$231B
$63.4M 0.23%
198,778
-14,803
-7% -$4.17M
BA icon
79
Boeing
BA
$182B
$62.5M 0.22%
298,367
+288
+0.1% +$54.4K
MS icon
80
Morgan Stanley
MS
$346B
$62.3M 0.22%
442,369
-14,422
-3% -$1.77M
ACN icon
81
Accenture
ACN
$110B
$62.2M 0.22%
207,977
-14,397
-6% -$4.38M
VZ icon
82
Verizon
VZ
$197B
$61.5M 0.22%
1,422,282
+226,860
+19% +$9.82M
BSX icon
83
Boston Scientific
BSX
$74.9B
$60.4M 0.22%
562,611
+64,742
+13% +$6.55M
TMO icon
84
Thermo Fisher Scientific
TMO
$223B
$60.4M 0.22%
148,856
-2,176
-1% -$910K
EWM icon
85
iShares MSCI Malaysia ETF
EWM
$332M
$60.3M 0.22%
2,475,806
+20,287
+0.8% +$483K
JPST icon
86
JPMorgan Ultra-Short Income ETF
JPST
$40.6B
$59.9M 0.21%
1,181,800
-178,300
-13% -$9.01M
QCOM icon
87
Qualcomm
QCOM
$174B
$58.5M 0.21%
367,177
-28,775
-7% -$4.24M
CNQ icon
88
Canadian Natural Resources
CNQ
$96.8B
$57.8M 0.21%
1,843,412
+29,840
+2% +$904K
SCHW
89
Charles Schwab
SCHW
$189B
$57.6M 0.21%
630,886
+14,382
+2% +$1.2M
ENB icon
90
Enbridge
ENB
$112B
$56.8M 0.2%
1,254,747
– –
C icon
91
Citigroup
C
$232B
$56M 0.2%
657,535
-57,338
-8% -$4.14M
PEP icon
92
PepsiCo
PEP
$191B
$55.1M 0.2%
416,938
+81,617
+24% +$11M
EIDO icon
93
iShares MSCI Indonesia ETF
EIDO
$486M
$55M 0.2%
3,118,162
-53,762
-2% -$938K
PGR icon
94
Progressive
PGR
$121B
$54.2M 0.19%
202,979
-3,037
-1% -$832K
SYK icon
95
Stryker
SYK
$131B
$53.4M 0.19%
135,095
+7,181
+6% +$2.69M
EPOL icon
96
iShares MSCI Poland ETF
EPOL
$815M
$53.1M 0.19%
1,646,796
+132,755
+9% +$3.92M
AVB icon
97
AvalonBay Communities
AVB
$26.4B
$52.7M 0.19%
259,122
+13,028
+5% +$2.66M
AMAT icon
98
Applied Materials
AMAT
$440B
$52.2M 0.19%
284,986
-8,200
-3% -$1.3M
DHR icon
99
Danaher
DHR
$144B
$52.2M 0.19%
264,033
+21,286
+9% +$4.13M
HON icon
100
Honeywell
HON
$74.1B
$51.6M 0.18%
235,263
+22,994
+11% +$4.65M
2 3
4
5 6

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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.