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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
TXN icon
101
Texas Instruments
TXN
$253B
$54.8M 0.18%
298,143
-64,719
-18% -$12.7M
BMO icon
102
Bank of Montreal
BMO
$129B
$54.4M 0.18%
417,739
-1,000
-0.2% -$118K
EQR icon
103
Equity Residential
EQR
$24.9B
$53.8M 0.18%
830,407
+153,176
+23% +$10M
LRCX icon
104
Lam Research
LRCX
$414B
$53.7M 0.18%
400,892
+21,246
+6% +$2.25M
MO icon
105
Altria Group
MO
$110B
$53.2M 0.18%
804,815
+202,726
+34% +$12.8M
NEE icon
106
NextEra Energy
NEE
$179B
$53M 0.18%
702,362
-10,989
-2% -$803K
PFE icon
107
Pfizer
PFE
$152B
$52.8M 0.18%
2,073,440
+375,743
+22% +$9.27M
AMGN icon
108
Amgen
AMGN
$226B
$52.4M 0.17%
185,777
+17,623
+10% +$5.11M
BX icon
109
Blackstone
BX
$112B
$52.1M 0.17%
304,898
+31,019
+11% +$5.31M
ETN icon
110
Eaton
ETN
$176B
$52.1M 0.17%
139,176
+1,555
+1% +$566K
BSX icon
111
Boston Scientific
BSX
$75.7B
$51.9M 0.17%
531,482
-31,129
-6% -$3.22M
APH icon
112
Amphenol
APH
$207B
$51.8M 0.17%
418,378
+72,910
+21% +$8M
THD icon
113
iShares MSCI Thailand ETF
THD
$355M
$51.7M 0.17%
878,219
-43,693
-5% -$2.5M
ANET icon
114
Arista Networks
ANET
$264B
$51.6M 0.17%
354,457
+10,420
+3% +$1.34M
INTC icon
115
Intel
INTC
$530B
$51.4M 0.17%
1,532,563
+13,247
+0.9% +$321K
EPOL icon
116
iShares MSCI Poland ETF
EPOL
$815M
$50.3M 0.17%
1,562,530
-84,266
-5% -$2.74M
ACN icon
117
Accenture
ACN
$114B
$50.2M 0.17%
203,410
-4,567
-2% -$1.19M
UNP icon
118
Union Pacific
UNP
$176B
$49.6M 0.17%
209,883
– –
COF icon
119
Capital One
COF
$137B
$49.3M 0.16%
232,048
+7,782
+3% +$1.7M
ADI icon
120
Analog Devices
ADI
$189B
$49M 0.16%
199,262
– –
AON icon
121
Aon
AON
$75.3B
$48.1M 0.16%
134,987
+2,929
+2% +$1.06M
DHR icon
122
Danaher
DHR
$144B
$48M 0.16%
241,873
-22,160
-8% -$4.41M
SCZ icon
123
iShares MSCI EAFE Small-Cap ETF
SCZ
$13.6B
$47.9M 0.16%
624,292
-13,356
-2% -$999K
GILD icon
124
Gilead Sciences
GILD
$170B
$47.3M 0.16%
426,032
+48,230
+13% +$5.48M
LOW icon
125
Lowe's Companies
LOW
$122B
$47M 0.16%
187,055
-2,690
-1% -$661K
3 4
5
6 7

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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.