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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
FLIN icon
26
Franklin FTSE India ETF
FLIN
$2.68B
$194M 0.65%
+5,213,024
New +$200M
HYG icon
27
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.9B
$187M 0.62%
2,298,563
-456,682
-17% -$36.8M
NFLX icon
28
Netflix
NFLX
$323B
$182M 0.61%
1,519,260
+13,350
+0.9% +$1.63M
XOM icon
29
ExxonMobil
XOM
$651B
$182M 0.6%
1,610,101
+14,165
+0.9% +$1.57M
VOO icon
30
Vanguard S&P 500 ETF
VOO
$1.04T
$180M 0.6%
293,171
-979
-0.3% -$577K
EZA icon
31
iShares MSCI South Africa ETF
EZA
$562M
$177M 0.59%
2,754,119
– –
MA icon
32
Mastercard
MA
$494B
$162M 0.54%
284,238
+303
+0.1% +$174K
WMT icon
33
Walmart Inc
WMT
$919B
$154M 0.51%
1,491,303
+10,601
+0.7% +$1.06M
ORCL icon
34
Oracle
ORCL
$458B
$154M 0.51%
546,166
+23,505
+4% +$5.99M
LIN icon
35
Linde
LIN
$222B
$152M 0.51%
320,034
-3,070
-1% -$1.45M
JNJ icon
36
Johnson & Johnson
JNJ
$628B
$149M 0.5%
804,482
-30,328
-4% -$5.2M
ABBV icon
37
AbbVie
ABBV
$446B
$142M 0.47%
611,706
-44,567
-7% -$9.08M
HD icon
38
Home Depot
HD
$344B
$141M 0.47%
348,314
+1,341
+0.4% +$527K
COST icon
39
Costco
COST
$423B
$139M 0.46%
150,125
-336
-0.2% -$322K
PLTR icon
40
Palantir
PLTR
$423B
$132M 0.44%
721,792
+39,252
+6% +$6.36M
RACE icon
41
Ferrari
RACE
$72.3B
$125M 0.42%
259,201
+5,900
+2% +$2.83M
RY icon
42
Royal Bank of Canada
RY
$299B
$121M 0.4%
818,597
-7,610
-0.9% -$1.05M
PG icon
43
Procter & Gamble
PG
$338B
$120M 0.4%
780,796
-49,700
-6% -$7.76M
BAC icon
44
Bank of America
BAC
$453B
$119M 0.4%
2,310,448
– –
UNH icon
45
UnitedHealth
UNH
$363B
$118M 0.39%
341,483
+748
+0.2% +$226K
GE icon
46
GE Aerospace
GE
$375B
$117M 0.39%
388,572
-846
-0.2% -$231K
SHOP icon
47
Shopify
SHOP
$199B
$107M 0.36%
719,403
-22,485
-3% -$3.05M
CVX icon
48
Chevron
CVX
$384B
$105M 0.35%
675,413
+136,494
+25% +$21.1M
CSCO icon
49
Cisco
CSCO
$454B
$101M 0.34%
1,475,771
+93,860
+7% +$6.4M
PM icon
50
Philip Morris
PM
$296B
$98.2M 0.33%
605,314
+42,344
+8% +$7.12M
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.