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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
C icon
76
Citigroup
C
$232B
$66.7M 0.22%
657,535
– –
AXP icon
77
American Express
AXP
$232B
$66M 0.22%
198,778
– –
NOW icon
78
ServiceNow
NOW
$130B
$66M 0.22%
358,555
+7,635
+2% +$1.43M
BKNG icon
79
Booking.com
BKNG
$160B
$65.9M 0.22%
305,275
+4,650
+2% +$1.04M
ENB icon
80
Enbridge
ENB
$112B
$63.2M 0.21%
1,252,347
-2,400
-0.2% -$113K
SPOT icon
81
Spotify
SPOT
$102B
$62.4M 0.21%
89,465
-9,687
-10% -$6.77M
BA icon
82
Boeing
BA
$182B
$61.6M 0.21%
285,573
-12,794
-4% -$2.88M
VZ icon
83
Verizon
VZ
$197B
$61.4M 0.2%
1,396,393
-25,889
-2% -$1.12M
INTU icon
84
Intuit
INTU
$95B
$60.6M 0.2%
88,757
-8,892
-9% -$6.41M
PGR icon
85
Progressive
PGR
$122B
$60.6M 0.2%
245,436
+42,457
+21% +$10.5M
AVB icon
86
AvalonBay Communities
AVB
$26.4B
$60.5M 0.2%
312,984
+53,862
+21% +$10.5M
EWM icon
87
iShares MSCI Malaysia ETF
EWM
$332M
$60.4M 0.2%
2,330,559
-145,247
-6% -$3.6M
ISRG icon
88
Intuitive Surgical
ISRG
$142B
$60.3M 0.2%
134,891
-3,036
-2% -$1.46M
SCHW
89
Charles Schwab
SCHW
$190B
$60.2M 0.2%
630,886
– –
GEV icon
90
GE Vernova
GEV
$275B
$60M 0.2%
97,637
+170
+0.2% +$103K
QCOM icon
91
Qualcomm
QCOM
$175B
$59.4M 0.2%
356,897
-10,280
-3% -$1.63M
AEM icon
92
Agnico Eagle Mines
AEM
$91.3B
$59M 0.2%
350,196
+17,100
+5% +$2.35M
AMAT icon
93
Applied Materials
AMAT
$439B
$58.9M 0.2%
287,529
+2,543
+0.9% +$461K
CNQ icon
94
Canadian Natural Resources
CNQ
$96.7B
$58.8M 0.2%
1,839,812
-3,600
-0.2% -$113K
EIDO icon
95
iShares MSCI Indonesia ETF
EIDO
$486M
$58.1M 0.19%
3,311,022
+192,860
+6% +$3.44M
KLAC icon
96
KLA
KLAC
$274B
$57.6M 0.19%
533,580
+59,720
+13% +$5.57M
ADBE icon
97
Adobe
ADBE
$105B
$57.4M 0.19%
162,721
-2,366
-1% -$849K
TJX icon
98
TJX Companies
TJX
$169B
$56.9M 0.19%
393,497
-7,538
-2% -$1M
BN icon
99
Brookfield
BN
$110B
$56.7M 0.19%
1,238,589
-2,250
-0.2% -$99.7K
PEP icon
100
PepsiCo
PEP
$192B
$55.3M 0.18%
393,573
-23,365
-6% -$3.34M
2 3
4
5 6

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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.