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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
NVDA icon
1
NVIDIA
NVDA
$5.46T
$1.59B 5.28%
8,500,258
-34,799
-0.4% -$6.07M
MSFT icon
2
Microsoft
MSFT
$3.71T
$1.34B 4.47%
2,594,281
+17,904
+0.7% +$9.13M
AAPL icon
3
Apple
AAPL
$4.44T
$1.31B 4.38%
5,164,296
-40,660
-0.8% -$9.19M
EWT icon
4
iShares MSCI Taiwan ETF
EWT
$11.6B
$1.04B 3.46%
16,310,393
+304,237
+2% +$18.3M
AMZN icon
5
Amazon
AMZN
$2.9T
$727M 2.42%
3,309,279
+52,730
+2% +$11.9M
INDA icon
6
iShares MSCI India ETF
INDA
$6.59B
$611M 2.03%
11,738,943
-3,927,424
-25% -$210M
EWY icon
7
iShares MSCI South Korea ETF
EWY
$27.4B
$579M 1.93%
7,226,554
-27,060
-0.4% -$2.02M
META icon
8
Meta Platforms (Facebook)
META
$1.5T
$556M 1.85%
756,599
-5,625
-0.7% -$4.19M
AVGO icon
9
Broadcom
AVGO
$2.02T
$545M 1.82%
1,653,109
-3,811
-0.2% -$1.17M
VTI icon
10
Vanguard Morningstar Total Stock Market ETF
VTI
$695B
$516M 1.72%
1,572,449
-82,122
-5% -$25.9M
GOOGL icon
11
Alphabet (Google) Class A
GOOGL
$4.23T
$484M 1.61%
1,989,943
-3,995
-0.2% -$837K
TSLA icon
12
Tesla
TSLA
$1.31T
$432M 1.44%
971,473
+5,839
+0.6% +$2.03M
GOOG icon
13
Alphabet (Google) Class C
GOOG
$4.21T
$407M 1.35%
1,670,605
-21,280
-1% -$4.47M
JPM icon
14
JPMorgan Chase
JPM
$966B
$317M 1.06%
1,004,872
+30,000
+3% +$8.92M
BRK.B icon
15
Berkshire Hathaway Class B
BRK.B
$1.09T
$315M 1.05%
625,730
-897
-0.1% -$434K
SRLN icon
16
State Street Blackstone Senior Loan ETF
SRLN
$5.37B
$274M 0.91%
6,600,978
+154,647
+2% +$6.42M
PLD icon
17
Prologis
PLD
$135B
$264M 0.88%
2,303,023
+308,690
+15% +$33.9M
VEA icon
18
Vanguard FTSE Developed Markets ETF
VEA
$239B
$261M 0.87%
4,356,687
-10,367
-0.2% -$604K
VCIT icon
19
Vanguard Intermediate-Term Corporate Bond ETF
VCIT
$67.9B
$229M 0.76%
2,725,901
+76,797
+3% +$6.39M
EWZ icon
20
iShares MSCI Brazil ETF
EWZ
$8.59B
$227M 0.76%
7,337,548
-60,067
-0.8% -$1.72M
VCLT icon
21
Vanguard Long-Term Corporate Bond ETF
VCLT
$8.81B
$223M 0.74%
2,876,267
+48,340
+2% +$3.68M
MBB icon
22
iShares MBS ETF
MBB
$39.2B
$223M 0.74%
2,338,900
+69,461
+3% +$6.53M
VNQ icon
23
Vanguard Real Estate ETF
VNQ
$39B
$220M 0.73%
2,401,823
+290,638
+14% +$26.4M
V icon
24
Visa
V
$676B
$208M 0.69%
609,803
+10,276
+2% +$3.56M
LLY icon
25
Eli Lilly
LLY
$1.09T
$204M 0.68%
268,001
-10,198
-4% -$7.59M
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.