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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
+4.74%
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
$31.3B
AUM Growth
+$1.24B
Cap. Flow
-$287M
Cap. Flow %
-0.92%
Top 10 Hldgs %
28.36%
Holding
1,819
New
92
Increased
472
Reduced
1,140
Closed
92

Top Buys

Rank Stock Value
1
TSM icon
TSMC
TSM
+$211M
2
APP icon
Applovin
APP
+$43.1M
3
SE icon
Sea Limited
SE
+$26M
4
TTE icon
TotalEnergies
TTE
+$25.5M
5
CRH icon
CRH
CRH
+$25.3M

Top Sells

Rank Stock Value
1
EWT icon
iShares MSCI Taiwan ETF
EWT
+$244M
2
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$88.6M
3
SHYG icon
iShares 0-5 Year High Yield Corporate Bond ETF
SHYG
+$69.2M
4
RACE icon
Ferrari
RACE
+$54.5M
5
INDA icon
iShares MSCI India ETF
INDA
+$43.8M

Sector Composition

Rank Sector Weight
1 Technology 24.95%
2 Financials 11.36%
3 Consumer Discretionary 8.16%
4 Communication Services 7.8%
5 Industrials 7.09%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
STT icon
301
State Street
STT
$52.2B
$15.3M 0.05%
116,617
-1,458
-1% -$175K
VTRS icon
302
Viatris
VTRS
$18.4B
$15.2M 0.05%
1,164,528
+876,073
+304% +$9.45M
TRGP icon
303
Targa Resources
TRGP
$57.2B
$15.2M 0.05%
75,498
-22,991
-23% -$3.87M
CARR icon
304
Carrier Global
CARR
$52.2B
$15.2M 0.05%
254,468
+1,136
+0.4% +$63.2K
NUE icon
305
Nucor
NUE
$61.8B
$15.1M 0.05%
85,039
+29,534
+53% +$4.44M
FTS icon
306
Fortis
FTS
$28.8B
$15.1M 0.05%
280,859
-152
-0.1% -$7.79K
AIG icon
307
American International
AIG
$39.8B
$15M 0.05%
200,533
-7,532
-4% -$603K
VTR icon
308
Ventas
VTR
$46.3B
$15M 0.05%
192,749
-1,304
-0.7% -$98.4K
F icon
309
Ford
F
$55.4B
$14.9M 0.05%
1,075,780
-16,790
-2% -$216K
TTWO icon
310
Take-Two Interactive
TTWO
$45.2B
$14.9M 0.05%
67,777
-1,972
-3% -$492K
PYPL icon
311
PayPal
PYPL
$51.8B
$14.9M 0.05%
282,026
-61,128
-18% -$3.97M
CVE icon
312
Cenovus Energy
CVE
$56.4B
$14.8M 0.05%
744,861
+29,892
+4% +$519K
COIN icon
313
Coinbase
COIN
$40.6B
$14.8M 0.05%
75,815
+2,925
+4% +$872K
EL icon
314
Estee Lauder
EL
$31.6B
$14.7M 0.05%
127,708
+125
+0.1% +$12.1K
BG icon
315
Bunge Global
BG
$21.7B
$14.7M 0.05%
129,131
+112,344
+669% +$10.4M
HUM icon
316
Humana
HUM
$46.2B
$14.6M 0.05%
74,853
+51,602
+222% +$13.5M
BRO icon
317
Brown & Brown
BRO
$24B
$14.6M 0.05%
202,621
+99,153
+96% +$8.27M
ULTA icon
318
Ulta Beauty
ULTA
$22.2B
$14.6M 0.05%
22,529
-763
-3% -$419K
NDAQ icon
319
Nasdaq
NDAQ
$54.6B
$14.6M 0.05%
150,214
+17,752
+13% +$1.6M
CBOE icon
320
Cboe Global Markets
CBOE
$30.6B
$14.5M 0.05%
54,792
+2,320
+4% +$577K
PRU icon
321
Prudential Financial
PRU
$43B
$14.5M 0.05%
130,319
+37,502
+40% +$4.02M
MCHP icon
322
Microchip Technology
MCHP
$42.2B
$14.4M 0.05%
190,190
+60,423
+47% +$3.73M
HII icon
323
Huntington Ingalls Industries
HII
$12.8B
$14.4M 0.05%
34,188
+29,692
+660% +$9.21M
VMC icon
324
Vulcan Materials
VMC
$36B
$14.4M 0.05%
47,797
+6,458
+16% +$1.89M
DDOG icon
325
Datadog
DDOG
$90.6B
$14.4M 0.05%
111,016
+10,791
+11% +$1.71M
11 12
13
14 15

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State of Tennessee, Department of Treasury's Q4 2025 Portfolio in Review

As of Q4 2025, State of Tennessee, Department of Treasury held 1,819 positions worth $31.3B, up 4.1% from $30B the previous quarter. Its ten largest holdings account for 28% of the portfolio.

State of Tennessee, Department of Treasury's Q4 2025 filing shows 92 new, 472 increased, 1,140 reduced and 92 closed positions. Its largest new stake was TSMC: 718,960 shares worth $238M. The largest sale was iShares MSCI Taiwan ETF, an estimated $244M.

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

  • State of Tennessee, Department of Treasury's largest Q4 2025 buy was TSMC: 718,960 shares worth $238M.
  • State of Tennessee, Department of Treasury added most to Applovin in Q4 2025, an estimated $43.1M increase.
  • State of Tennessee, Department of Treasury's biggest Q4 2025 reduction was iShares MSCI Taiwan ETF, cutting an estimated $244M.
  • State of Tennessee, Department of Treasury fully exited iShares 0-5 Year High Yield Corporate Bond ETF in Q4 2025, selling an estimated $69.2M.
  • State of Tennessee, Department of Treasury's ten largest holdings make up 28% of its $31.3B portfolio in Q4 2025.
  • State of Tennessee, Department of Treasury opened 92 new positions and closed 92 in Q4 2025.
  • State of Tennessee, Department of Treasury's portfolio value rose 4.1% quarter-over-quarter to $31.3B.

Based on State of Tennessee, Department of Treasury's 13F filing for Q4 2025, filed 18 Feb 2026.