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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
+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
(+4.1%)
Cap. Flow
-$287M
Cap. Flow
% of AUM
-0.92%
Top 10 Holdings %
Top 10 Hldgs %
28.36%
Holding
1,819
New
92
Increased
472
Reduced
1,140
Closed
92
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
TSMC
TSM
|
+$211M |
| 2 |
Applovin
APP
|
+$43.1M |
| 3 |
Sea Limited
SE
|
+$26M |
| 4 |
TotalEnergies
TTE
|
+$25.5M |
| 5 |
CRH
CRH
|
+$25.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Taiwan ETF
EWT
|
+$244M |
| 2 |
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
|
+$88.6M |
| 3 |
iShares 0-5 Year High Yield Corporate Bond ETF
SHYG
|
+$69.2M |
| 4 |
Ferrari
RACE
|
+$54.5M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
401
Jabil
JBL
$38.8B
| $9.86M | 0.03% |
41,574
-2,602
| -6% | -$555K |
|
402
Devon Energy
DVN
$48.8B
| $9.84M | 0.03% |
244,706
+60,040
| +33% | +$2.1M |
|
403
Diamondback Energy
FANG
$55.9B
| $9.8M | 0.03% |
59,779
-545
| -0.9% | -$80.4K |
|
404
JPMorgan Ultra-Short Income ETF
JPST
$40.6B
| $9.79M | 0.03% |
192,700
-197,400
| -51% | -$10M |
|
405
Vertiv
VRT
$111B
| $9.75M | 0.03% |
+52,385
| New | +$9.1M |
|
406
Edwards Lifesciences
EW
$53.4B
| $9.67M | 0.03% |
118,825
-13,119
| -10% | -$1.08M |
|
407
Southwest Airlines
LUV
$22B
| $9.6M | 0.03% |
202,123
-22,075
| -10% | -$771K |
|
408
Flex
FLEX
$45.9B
| $9.58M | 0.03% |
151,941
-6,508
| -4% | -$402K |
|
409
Hewlett Packard
HPE
$79.2B
| $9.54M | 0.03% |
443,510
+1,347
| +0.3% | +$31.7K |
|
410
Brookfield Infrastructure Partners
BIP
$18.4B
| $9.52M | 0.03% |
261,653
-1,391
| -0.5% | -$48.4K |
|
411
Curtiss-Wright
CW
$25.4B
| $9.43M | 0.03% |
14,366
-2,176
| -13% | -$1.21M |
|
412
Citizens Financial Group
CFG
$31.2B
| $9.42M | 0.03% |
149,625
-27,011
| -15% | -$1.45M |
|
413
VICI Properties
VICI
$29B
| $9.38M | 0.03% |
333,951
-3,078
| -0.9% | -$91.4K |
|
414
Keurig Dr Pepper
KDP
$42.3B
| $9.32M | 0.03% |
339,704
-188,003
| -36% | -$5.16M |
|
415
Casey's General Stores
CASY
$31.6B
| $9.32M | 0.03% |
15,362
-658
| -4% | -$362K |
|
416
Lumentum
LITE
$78B
| $9.28M | 0.03% |
23,688
-393
| -2% | -$101K |
|
|
FISV
417
Fiserv Inc
FISV
$29.5B
| $9.21M | 0.03% |
144,515
-1,698
| -1% | -$142K |
|
418
Ferguson
FERG
$48B
| $9.21M | 0.03% |
+36,477
| New | +$8.71M |
|
419
PPG Industries
PPG
$25.5B
| $9.18M | 0.03% |
79,394
+30,470
| +62% | +$3.06M |
|
420
Imperial Oil
IMO
$64B
| $9.15M | 0.03% |
90,103
-1,885
| -2% | -$172K |
|
421
EQT Corp
EQT
$33.8B
| $9.05M | 0.03% |
156,694
-39,376
| -20% | -$2.21M |
|
422
United Therapeutics
UTHR
$21.5B
| $9.04M | 0.03% |
19,255
+37
| +0.2% | +$17.2K |
|
|
GRMN
423
Garmin
GRMN
$60.2B
| $8.98M | 0.03% |
44,549
-4,366
| -9% | -$949K |
|
424
iShares Core MSCI EAFE ETF
IEFA
$196B
| $8.96M | 0.03% |
95,294
-5,233
| -5% | -$463K |
|
425
PG&E
PCG
$38.5B
| $8.95M | 0.03% |
580,685
-6,214
| -1% | -$99.3K |
|
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PCH
N
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.