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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
+12.23%
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
$25.5B
AUM Growth
+$751M
Cap. Flow
-$1.82B
Cap. Flow %
-7.13%
Top 10 Hldgs %
24.28%
Holding
1,726
New
127
Increased
533
Reduced
647
Closed
69

Top Buys

Rank Stock Value
1
UBER icon
Uber
UBER
+$47.8M
2
ANGL icon
VanEck Fallen Angel High Yield Bond ETF
ANGL
+$41.5M
3
LULU icon
lululemon athletica
LULU
+$27.9M
4
PGR icon
Progressive
PGR
+$25.8M
5
VZ icon
Verizon
VZ
+$18.3M

Top Sells

Rank Stock Value
1
VTI icon
Vanguard Morningstar Total Stock Market ETF
VTI
+$496M
2
VCIT icon
Vanguard Intermediate-Term Corporate Bond ETF
VCIT
+$230M
3
VCLT icon
Vanguard Long-Term Corporate Bond ETF
VCLT
+$228M
4
MBB icon
iShares MBS ETF
MBB
+$216M
5
VEA icon
Vanguard FTSE Developed Markets ETF
VEA
+$183M

Sector Composition

Rank Sector Weight
1 Technology 20.77%
2 Financials 10.74%
3 Healthcare 9.11%
4 Consumer Discretionary 8.86%
5 Industrials 7.78%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CSR
1401
Centerspace
CSR
$939M
$495K ﹤0.01%
8,512
-196
-2% -$10.7K
CASH icon
1402
Pathward Financial
CASH
$1.79B
$494K ﹤0.01%
9,332
– –
GBX icon
1403
The Greenbrier Companies
GBX
$1.42B
$492K ﹤0.01%
11,139
-6,293
-36% -$246K
ARR
1404
Armour Residential REIT
ARR
$2.37B
$492K ﹤0.01%
25,472
+3,907
+18% +$68.9K
KW
1405
DELISTED
Kennedy-Wilson Holdings
KW
$491K ﹤0.01%
39,665
– –
SABR icon
1406
Sabre
SABR
$892M
$491K ﹤0.01%
111,581
– –
DISH
1407
DELISTED
DISH Network Corp.
DISH
$490K ﹤0.01%
84,895
-20,892
-20% -$93.8K
MCY icon
1408
Mercury Insurance
MCY
$5.81B
$488K ﹤0.01%
13,086
+4,055
+45% +$141K
TALO icon
1409
Talos Energy
TALO
$2.58B
$480K ﹤0.01%
33,706
– –
WKC icon
1410
World Kinect Corp
WKC
$1.9B
$479K ﹤0.01%
21,041
– –
DMC
1411
Del Monte Corp
DMC
$1.44B
$477K ﹤0.01%
18,159
+1,045
+6% +$25.7K
RWT
1412
Redwood Trust
RWT
$599M
$477K ﹤0.01%
64,316
-1,549
-2% -$10.9K
NWS icon
1413
News Corp Class B
NWS
$17.8B
$476K ﹤0.01%
18,494
– –
AHRT
1414
AH Realty Trust
AHRT
$506M
$475K ﹤0.01%
38,431
-878
-2% -$9.68K
CTS icon
1415
CTS Corp
CTS
$1.79B
$474K ﹤0.01%
10,838
-5,760
-35% -$232K
MOV icon
1416
Movado Group
MOV
$796M
$473K ﹤0.01%
15,693
-5,937
-27% -$170K
SMTC icon
1417
Semtech
SMTC
$12.4B
$473K ﹤0.01%
21,584
-4,322
-17% -$80.2K
ARLP icon
1418
Alliance Resource Partners
ARLP
$3.2B
$470K ﹤0.01%
22,198
-3,026
-12% -$65.5K
NVEE
1419
DELISTED
NV5 Global
NVEE
$470K ﹤0.01%
16,916
-12,780
-43% -$325K
EFC
1420
Ellington Financial
EFC
$1.76B
$467K ﹤0.01%
36,756
+83
+0.2% +$1.05K
BTU icon
1421
Peabody Energy
BTU
$2.94B
$466K ﹤0.01%
+19,147
New +$462K
TTGT icon
1422
TechTarget
TTGT
$277M
$463K ﹤0.01%
13,289
– –
PFS icon
1423
Provident Financial Services
PFS
$3.26B
$461K ﹤0.01%
25,579
– –
MLAB icon
1424
Mesa Laboratories
MLAB
$633M
$459K ﹤0.01%
4,385
-1,048
-19% -$102K
DCOM icon
1425
Dime Commercial Bancshares
DCOM
$1.82B
$458K ﹤0.01%
17,019
– –
55 56
57
58 59

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State of Tennessee, Department of Treasury's Q4 2023 Portfolio in Review

As of Q4 2023, State of Tennessee, Department of Treasury held 1,726 positions worth $25.5B, up 3% from $24.8B the previous quarter. Its ten largest holdings account for 24% of the portfolio.

State of Tennessee, Department of Treasury withdrew a net $1.82B in Q4 2023, closing 69 positions and reducing 647 holdings. Its most notable exit was Invesco Senior Loan ETF, an estimated $69.5M position sold in full.

By sector, the portfolio is most concentrated in Technology at 21% of assets, up from 18% a quarter earlier, followed by Financials and Healthcare.

Against the trend, State of Tennessee, Department of Treasury opened a new position in Uber worth $56.3M.

  • State of Tennessee, Department of Treasury's largest Q4 2023 buy was Uber: 914,357 shares worth $56.3M.
  • State of Tennessee, Department of Treasury added most to VanEck Fallen Angel High Yield Bond ETF in Q4 2023, an estimated $41.5M increase.
  • State of Tennessee, Department of Treasury's biggest Q4 2023 reduction was Vanguard Morningstar Total Stock Market ETF, cutting an estimated $496M.
  • State of Tennessee, Department of Treasury fully exited Invesco Senior Loan ETF in Q4 2023, selling an estimated $69.5M.
  • State of Tennessee, Department of Treasury's ten largest holdings make up 24% of its $25.5B portfolio in Q4 2023.
  • State of Tennessee, Department of Treasury opened 127 new positions and closed 69 in Q4 2023.
  • State of Tennessee, Department of Treasury's portfolio value rose 3% quarter-over-quarter to $25.5B.

Based on State of Tennessee, Department of Treasury's 13F filing for Q4 2023, filed 14 Feb 2024.