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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
LEN icon
176
Lennar Class A
LEN
$21B
$29.4M 0.12%
203,617
+75,790
+59% +$9.13M
EPHE icon
177
iShares MSCI Philippines ETF
EPHE
$146M
$29.2M 0.11%
1,123,386
– –
ASML icon
178
ASML
ASML
$719B
$28.6M 0.11%
37,760
+1,975
+6% +$1.3M
BXP icon
179
Boston Properties
BXP
$11.1B
$28.3M 0.11%
403,716
-75,020
-16% -$4.43M
NUE icon
180
Nucor
NUE
$61.9B
$28.3M 0.11%
162,474
+22,100
+16% +$3.5M
DXCM icon
181
DexCom
DXCM
$34.2B
$28.1M 0.11%
226,425
+81,715
+56% +$8.35M
HES
182
DELISTED
Hess
HES
$28.1M 0.11%
194,794
+105,196
+117% +$15.4M
EQIX icon
183
Equinix
EQIX
$106B
$27.7M 0.11%
34,421
-3,008
-8% -$2.31M
PPG icon
184
PPG Industries
PPG
$25.6B
$27.7M 0.11%
185,104
+21,696
+13% +$2.94M
ADI icon
185
Analog Devices
ADI
$188B
$27.6M 0.11%
139,077
+19,551
+16% +$3.49M
ESS icon
186
Essex Property Trust
ESS
$18.4B
$27.4M 0.11%
110,455
-1,196
-1% -$264K
MLM icon
187
Martin Marietta Materials
MLM
$32.9B
$27.3M 0.11%
54,676
+1,543
+3% +$696K
TGT icon
188
Target
TGT
$70.3B
$27M 0.11%
189,879
+118,964
+168% +$14.5M
ROP icon
189
Roper Technologies
ROP
$38.5B
$26.8M 0.1%
49,112
– –
HUM icon
190
Humana
HUM
$46.2B
$26.7M 0.1%
58,251
+15,987
+38% +$7.88M
HWM icon
191
Howmet Aerospace
HWM
$112B
$26.6M 0.1%
491,483
+110,027
+29% +$5.43M
PHM icon
192
Pultegroup
PHM
$24.8B
$26.6M 0.1%
257,575
-13,865
-5% -$1.18M
MFC icon
193
Manulife Financial
MFC
$72.5B
$26.5M 0.1%
1,193,207
– –
UPS icon
194
United Parcel Service
UPS
$89.6B
$26.5M 0.1%
168,494
-38,128
-18% -$5.76M
NSC icon
195
Norfolk Southern
NSC
$76.1B
$26.5M 0.1%
111,914
+75,729
+209% +$15.9M
MAA icon
196
Mid-America Apartment Communities
MAA
$15.6B
$26.4M 0.1%
196,340
-479
-0.2% -$60.9K
HCA icon
197
HCA Healthcare
HCA
$88.5B
$26.2M 0.1%
96,706
+12,764
+15% +$3.15M
AON icon
198
Aon
AON
$74.6B
$26.1M 0.1%
89,655
+15,553
+21% +$4.98M
ROST icon
199
Ross Stores
ROST
$78.2B
$25.6M 0.1%
184,872
+80,000
+76% +$9.96M
CM icon
200
Canadian Imperial Bank of Commerce
CM
$111B
$25.4M 0.1%
523,939
– –
6 7
8
9 10

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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.