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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
HUBB icon
426
Hubbell
HUBB
$26.8B
$7.6M 0.03%
18,612
-279
-1% -$103K
SJM icon
427
J.M. Smucker
SJM
$12.9B
$7.6M 0.03%
77,354
+27,457
+55% +$3.02M
DG icon
428
Dollar General
DG
$26.9B
$7.54M 0.03%
65,954
+20,907
+46% +$2.08M
CDP icon
429
COPT Defense Properties
CDP
$4.23B
$7.51M 0.03%
272,480
-11,911
-4% -$323K
GWRE icon
430
Guidewire Software
GWRE
$15.2B
$7.5M 0.03%
31,841
-2,200
-6% -$473K
FLEX icon
431
Flex
FLEX
$45.9B
$7.46M 0.03%
149,356
-10,602
-7% -$413K
THC icon
432
Tenet Healthcare
THC
$21.5B
$7.45M 0.03%
42,352
– –
MKC icon
433
McCormick & Company Non-Voting
MKC
$14.6B
$7.44M 0.03%
98,170
-1,276
-1% -$95.6K
EQT icon
434
EQT Corp
EQT
$33.8B
$7.42M 0.03%
127,257
-3,160
-2% -$171K
L icon
435
Loews
L
$23B
$7.41M 0.03%
80,802
-6,150
-7% -$540K
TPL icon
436
Texas Pacific Land
TPL
$23.9B
$7.37M 0.03%
20,916
-312
-1% -$128K
GEHC icon
437
GE HealthCare
GEHC
$33.3B
$7.36M 0.03%
99,383
-9,298
-9% -$647K
DXCM icon
438
DexCom
DXCM
$34.5B
$7.32M 0.03%
83,858
-77,200
-48% -$6.05M
CDW icon
439
CDW
CDW
$17.8B
$7.31M 0.03%
40,927
+6,143
+18% +$1.04M
IMO icon
440
Imperial Oil
IMO
$64B
$7.26M 0.03%
91,588
– –
GPN icon
441
Global Payments
GPN
$25.1B
$7.25M 0.03%
90,595
+23,608
+35% +$1.87M
ON icon
442
ON Semiconductor
ON
$31.8B
$7.25M 0.03%
138,257
-2,250
-2% -$97.8K
DT icon
443
Dynatrace
DT
$14.7B
$7.18M 0.03%
130,009
– –
A icon
444
Agilent Technologies
A
$42.2B
$7.17M 0.03%
60,780
-30,485
-33% -$3.38M
FE icon
445
FirstEnergy
FE
$27.1B
$7.17M 0.03%
178,077
-1,220
-0.7% -$50.3K
OKTA icon
446
Okta
OKTA
$26.9B
$7.15M 0.03%
+71,516
New +$7.64M
P
447
Everpure Inc
P
$39B
$7.14M 0.03%
123,933
– –
AMRZ
448
Amrize Ltd
AMRZ
$25.6B
$7.13M 0.03%
+143,373
New +$7.23M
DRI icon
449
Darden Restaurants
DRI
$25.4B
$7.09M 0.03%
32,507
+7,380
+29% +$1.53M
RF icon
450
Regions Financial
RF
$27B
$7.03M 0.03%
298,860
-66,872
-18% -$1.42M
16 17
18
19 20

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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.