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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
+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
(+7.3%)
Cap. Flow
-$694M
Cap. Flow
% of AUM
-2.48%
Top 10 Holdings %
Top 10 Hldgs %
29.49%
Holding
1,782
New
63
Increased
481
Reduced
719
Closed
60
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Prologis
PLD
|
+$28.9M |
| 2 |
Coinbase
COIN
|
+$16.3M |
| 3 |
Capital One
COF
|
+$16M |
| 4 |
McDonald's
MCD
|
+$15.8M |
| 5 |
iShares Fallen Angels USD Bond ETF
FALN
|
+$15.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MBS ETF
MBB
|
+$233M |
| 2 |
iShares 20+ Year Treasury Bond ETF
TLT
|
+$202M |
| 3 |
NVIDIA
NVDA
|
+$33.5M |
| 4 |
Icon
ICLR
|
+$28.6M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
1626
Bausch Health
BHC
$2.34B
| $179K | ﹤0.01% |
26,912
-16,406
| -38% | -$84.3K |
|
1627
Grid Dynamics Holdings
GDYN
$631M
| $179K | ﹤0.01% |
15,510
| – | – |
|
1628
Insteel Industries
IIIN
$633M
| $179K | ﹤0.01% |
4,806
| – | – |
|
1629
SunCoke Energy
SXC
$782M
| $177K | ﹤0.01% |
20,575
-19,641
| -49% | -$170K |
|
1630
Dream Finders Homes
DFH
$1.33B
| $176K | ﹤0.01% |
7,020
| – | – |
|
1631
Energy Recovery
ERII
$398M
| $176K | ﹤0.01% |
+13,770
| New | +$187K |
|
|
PRO
1632
DELISTED
PROS Holdings
PRO
| $175K | ﹤0.01% |
+11,173
| New | +$190K |
|
|
AGNT
1633
AGNT Inc
AGNT
$722M
| $171K | ﹤0.01% |
18,827
| – | – |
|
|
UDMY
1634
DELISTED
Udemy
UDMY
| $171K | ﹤0.01% |
+24,364
| New | +$168K |
|
1635
Eton Pharmaceutcials
ETON
$1.16B
| $171K | ﹤0.01% |
12,000
-1,950
| -14% | -$30.8K |
|
1636
Enviri
NVRI
$574M
| $170K | ﹤0.01% |
19,606
| – | – |
|
1637
Oil-Dri
ODC
$1.26B
| $169K | ﹤0.01% |
+2,869
| New | +$139K |
|
1638
Shenandoah Telecom
SHEN
$741M
| $169K | ﹤0.01% |
12,359
| – | – |
|
1639
Allison Transmission
ALSN
$10.2B
| $169K | ﹤0.01% |
1,777
-1,744
| -50% | -$169K |
|
1640
Idaho Strategic Resources
IDR
$495M
| $169K | ﹤0.01% |
+12,900
| New | +$190K |
|
1641
HealthStream
HSTM
$835M
| $165K | ﹤0.01% |
5,958
-4,900
| -45% | -$145K |
|
1642
Ichor Holdings
ICHR
$2.73B
| $161K | ﹤0.01% |
8,179
-6,888
| -46% | -$126K |
|
1643
PagerDuty
PD
$878M
| $160K | ﹤0.01% |
+10,464
| New | +$163K |
|
|
GDEN
1644
DELISTED
Golden Entertainment
GDEN
| $159K | ﹤0.01% |
5,414
| – | – |
|
1645
Sturm, Ruger & Co
RGR
$600M
| $156K | ﹤0.01% |
4,359
| – | – |
|
|
TWFG
1646
TWFG Inc
TWFG
$1.44B
| $155K | ﹤0.01% |
+4,435
| New | +$148K |
|
1647
Cable One
CABO
$198M
| $155K | ﹤0.01% |
1,142
| – | – |
|
1648
Scholastic
SCHL
$781M
| $154K | ﹤0.01% |
7,332
| – | – |
|
1649
EverQuote
EVER
$865M
| $153K | ﹤0.01% |
+6,310
| New | +$150K |
|
1650
Metallus
MTUS
$895M
| $151K | ﹤0.01% |
9,768
| – | – |
|
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PCH
N
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.