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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
(+4.1%)
Cap. Flow
-$287M
Cap. Flow
% of AUM
-0.92%
Top 10 Holdings %
Top 10 Hldgs %
28.36%
Holding
1,819
New
92
Increased
472
Reduced
1,140
Closed
92
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
TSMC
TSM
|
+$211M |
| 2 |
Applovin
APP
|
+$43.1M |
| 3 |
Sea Limited
SE
|
+$26M |
| 4 |
TotalEnergies
TTE
|
+$25.5M |
| 5 |
CRH
CRH
|
+$25.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Taiwan ETF
EWT
|
+$244M |
| 2 |
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
|
+$88.6M |
| 3 |
iShares 0-5 Year High Yield Corporate Bond ETF
SHYG
|
+$69.2M |
| 4 |
Ferrari
RACE
|
+$54.5M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
1601
Amphastar Pharmaceuticals
AMPH
$859M
| $228K | ﹤0.01% |
8,619
-681
| -7% | -$17.5K |
|
1602
Edgewell Personal Care
EPC
$1.32B
| $228K | ﹤0.01% |
11,717
-6,816
| -37% | -$126K |
|
1603
First Majestic Silver
AG
$9.25B
| $227K | ﹤0.01% |
+10,903
| New | +$151K |
|
1604
Dorian LPG
LPG
$1.96B
| $226K | ﹤0.01% |
7,645
-5,028
| -40% | -$132K |
|
|
AMWD
1605
DELISTED
American Woodmark
AMWD
| $226K | ﹤0.01% |
3,801
-300
| -7% | -$17.6K |
|
|
AMRN
1606
Amarin Corp
AMRN
$299M
| $224K | ﹤0.01% |
15,004
| – | – |
|
|
AHRT
1607
AH Realty Trust
AHRT
$506M
| $223K | ﹤0.01% |
32,043
-3,231
| -9% | -$21.3K |
|
|
RWT
1608
Redwood Trust
RWT
$598M
| $221K | ﹤0.01% |
40,355
-11,082
| -22% | -$60.9K |
|
1609
Grocery Outlet
GO
$1.07B
| $217K | ﹤0.01% |
22,778
-1,800
| -7% | -$22.7K |
|
1610
JFrog
FROG
$11.5B
| $215K | ﹤0.01% |
+3,932
| New | +$224K |
|
1611
PDF Solutions
PDFS
$2.11B
| $215K | ﹤0.01% |
6,752
-7,451
| -52% | -$206K |
|
1612
Pacira BioSciences
PCRX
$918M
| $215K | ﹤0.01% |
10,453
-826
| -7% | -$19.6K |
|
1613
Middlesex Water
MSEX
$1.11B
| $211K | ﹤0.01% |
4,033
-318
| -7% | -$17.1K |
|
1614
Capitol Federal Financial
CFFN
$1.09B
| $210K | ﹤0.01% |
28,855
-25,917
| -47% | -$169K |
|
1615
STAAR Surgical
STAA
$1.25B
| $209K | ﹤0.01% |
11,028
-7,009
| -39% | -$181K |
|
|
DCH
1616
Dauch Corp
DCH
$1.6B
| $209K | ﹤0.01% |
26,190
-2,070
| -7% | -$12.9K |
|
1617
N-able
NABL
$686M
| $209K | ﹤0.01% |
34,381
+17,461
| +103% | +$133K |
|
1618
Alliance Resource Partners
ARLP
$3.21B
| $209K | ﹤0.01% |
+8,759
| New | +$212K |
|
1619
Heritage Financial
HFWA
$1.23B
| $207K | ﹤0.01% |
8,026
-634
| -7% | -$14.9K |
|
1620
Core Laboratories
CLB
$570M
| $207K | ﹤0.01% |
10,601
-838
| -7% | -$12.5K |
|
1621
Myriad Genetics
MYGN
$307M
| $205K | ﹤0.01% |
36,538
-3,111
| -8% | -$22.6K |
|
1622
Sonic Automotive
SAH
$2.51B
| $204K | ﹤0.01% |
3,409
-1,991
| -37% | -$132K |
|
1623
Atlas Energy Solutions
AESI
$1.47B
| $203K | ﹤0.01% |
17,390
+2,481
| +17% | +$25.1K |
|
|
GLDD
1624
DELISTED
Great Lakes Dredge & Dock
GLDD
| $203K | ﹤0.01% |
+13,524
| New | +$167K |
|
1625
Allient
ALNT
$1.86B
| $201K | ﹤0.01% |
3,293
-825
| -20% | -$43.1K |
|
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PCH
N
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.