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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
IRT icon
1176
Independence Realty Trust
IRT
$4.01B
$1.04M ﹤0.01%
62,547
-2,679
-4% -$44.4K
HE icon
1177
Hawaiian Electric Industries
HE
$2.04B
$1.04M ﹤0.01%
+67,830
New +$786K
REZI icon
1178
Resideo Technologies
REZI
$3.1B
$1.04M ﹤0.01%
30,310
-30,670
-50% -$1.13M
PBH icon
1179
Prestige Consumer Healthcare
PBH
$2.43B
$1.03M ﹤0.01%
16,049
+435
+3% +$26.6K
UCTT
1180
Ultra Clean Holdings
UCTT
$4.21B
$1.03M ﹤0.01%
23,557
+4,732
+25% +$126K
WLK icon
1181
Westlake Corp
WLK
$10.2B
$1.03M ﹤0.01%
12,946
+7,933
+158% +$565K
THRM icon
1182
Gentherm
THRM
$1.32B
$1.02M ﹤0.01%
31,933
+20,027
+168% +$721K
CPRI icon
1183
Capri Holdings
CPRI
$1.77B
$1.02M ﹤0.01%
45,154
-1,934
-4% -$44.7K
TDS icon
1184
Telephone and Data Systems
TDS
$4.03B
$1.02M ﹤0.01%
22,513
-6,361
-22% -$248K
HMN icon
1185
Horace Mann Educators
HMN
$2.1B
$1.01M ﹤0.01%
22,645
-3,383
-13% -$153K
APLE icon
1186
Apple Hospitality REIT
APLE
$3.75B
$1.01M ﹤0.01%
86,369
-8,249
-9% -$96.8K
JOE icon
1187
St. Joe Company
JOE
$3.89B
$1M ﹤0.01%
15,148
+2,889
+24% +$162K
HCI icon
1188
HCI Group
HCI
$2.32B
$1M ﹤0.01%
6,310
+1,001
+19% +$189K
NHC icon
1189
National Healthcare
NHC
$3.44B
$996K ﹤0.01%
6,962
-1,184
-15% -$153K
DNOW icon
1190
DNOW Inc
DNOW
$2.95B
$996K ﹤0.01%
65,578
+6,213
+10% +$87.2K
PRK icon
1191
Park National Corp
PRK
$3.75B
$992K ﹤0.01%
6,088
+1,481
+32% +$233K
OFG icon
1192
OFG Bancorp
OFG
$2.26B
$984K ﹤0.01%
24,415
-8,797
-26% -$360K
MD icon
1193
Pediatrix Medical
MD
$2.14B
$984K ﹤0.01%
46,016
+1,246
+3% +$25.5K
LGND icon
1194
Ligand Pharmaceuticals
LGND
$5.76B
$983K ﹤0.01%
5,119
-2,671
-34% -$513K
ASO icon
1195
Academy Sports + Outdoors
ASO
$3.03B
$982K ﹤0.01%
17,852
-7,062
-28% -$350K
OI icon
1196
O-I Glass
OI
$1.05B
$975K ﹤0.01%
63,819
-4,853
-7% -$64.2K
SCL icon
1197
Stepan Co
SCL
$1.48B
$971K ﹤0.01%
16,858
+7,703
+84% +$353K
IRDM icon
1198
Iridium Communications
IRDM
$5.27B
$970K ﹤0.01%
48,695
+15,752
+48% +$278K
POST icon
1199
Post Holdings
POST
$3.65B
$970K ﹤0.01%
9,481
-406
-4% -$42K
SONO icon
1200
Sonos
SONO
$1.96B
$967K ﹤0.01%
67,393
-16,375
-20% -$286K
46 47
48
49 50

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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.