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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
+13.04%
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
$28B
AUM Growth
+$1.89B
Cap. Flow
-$694M
Cap. Flow %
-2.48%
Top 10 Hldgs %
29.49%
Holding
1,782
New
63
Increased
481
Reduced
719
Closed
60

Top Buys

Rank Stock Value
1
PLD icon
Prologis
PLD
+$28.9M
2
COIN icon
Coinbase
COIN
+$16.3M
3
COF icon
Capital One
COF
+$16M
4
MCD icon
McDonald's
MCD
+$15.8M
5
FALN icon
iShares Fallen Angels USD Bond ETF
FALN
+$15.4M

Top Sells

Rank Stock Value
1
MBB icon
iShares MBS ETF
MBB
+$233M
2
TLT icon
iShares 20+ Year Treasury Bond ETF
TLT
+$202M
3
NVDA icon
NVIDIA
NVDA
+$33.5M
4
ICLR icon
Icon
ICLR
+$28.6M
5
MSFT icon
Microsoft
MSFT
+$27.9M

Sector Composition

Rank Sector Weight
1 Technology 24.16%
2 Financials 11.97%
3 Consumer Discretionary 8.55%
4 Industrials 7.22%
5 Communication Services 6.88%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NVDA icon
1
NVIDIA
NVDA
$5.43T
$1.35B 4.82%
8,535,057
-266,485
-3% -$33.5M
MSFT icon
2
Microsoft
MSFT
$3.66T
$1.28B 4.58%
2,576,377
-64,341
-2% -$27.9M
AAPL icon
3
Apple
AAPL
$4.41T
$1.07B 3.82%
5,204,956
-107,086
-2% -$21.6M
EWT icon
4
iShares MSCI Taiwan ETF
EWT
$11.4B
$919M 3.29%
16,006,156
+25,092
+0.2% +$1.28M
INDA icon
5
iShares MSCI India ETF
INDA
$6.58B
$872M 3.12%
15,666,367
+37,038
+0.2% +$1.98M
AMZN icon
6
Amazon
AMZN
$2.88T
$714M 2.56%
3,256,549
-61,040
-2% -$12.1M
META icon
7
Meta Platforms (Facebook)
META
$1.47T
$563M 2.01%
762,224
-34,357
-4% -$21.2M
EWY icon
8
iShares MSCI South Korea ETF
EWY
$27.2B
$521M 1.86%
7,253,614
-170,341
-2% -$10.2M
VTI icon
9
Vanguard Morningstar Total Stock Market ETF
VTI
$691B
$503M 1.8%
1,654,571
-6,850
-0.4% -$1.93M
AVGO icon
10
Broadcom
AVGO
$1.98T
$457M 1.63%
1,656,920
-61,342
-4% -$13.3M
GOOGL icon
11
Alphabet (Google) Class A
GOOGL
$4.2T
$351M 1.26%
1,993,938
-62,150
-3% -$10.2M
TSLA icon
12
Tesla
TSLA
$1.29T
$307M 1.1%
965,634
-47,564
-5% -$14.3M
BRK.B icon
13
Berkshire Hathaway Class B
BRK.B
$1.09T
$304M 1.09%
626,627
-10,590
-2% -$5.38M
GOOG icon
14
Alphabet (Google) Class C
GOOG
$4.19T
$300M 1.07%
1,691,885
-42,178
-2% -$6.97M
JPM icon
15
JPMorgan Chase
JPM
$971B
$283M 1.01%
974,872
-27,110
-3% -$6.92M
SRLN icon
16
State Street Blackstone Senior Loan ETF
SRLN
$5.37B
$268M 0.96%
6,446,331
-123,203
-2% -$5.04M
VEA icon
17
Vanguard FTSE Developed Markets ETF
VEA
$238B
$249M 0.89%
4,367,054
-306,764
-7% -$16.4M
HYG icon
18
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.9B
$222M 0.79%
2,755,245
-259,623
-9% -$20.5M
VCIT icon
19
Vanguard Intermediate-Term Corporate Bond ETF
VCIT
$67.6B
$220M 0.79%
2,649,104
+62,747
+2% +$5.1M
LLY icon
20
Eli Lilly
LLY
$1.09T
$217M 0.78%
278,199
+3,805
+1% +$2.96M
VCLT icon
21
Vanguard Long-Term Corporate Bond ETF
VCLT
$8.75B
$215M 0.77%
2,827,927
+107,304
+4% +$7.93M
EWZ icon
22
iShares MSCI Brazil ETF
EWZ
$8.57B
$213M 0.76%
7,397,615
-41,052
-0.6% -$1.11M
MBB icon
23
iShares MBS ETF
MBB
$39B
$213M 0.76%
2,269,439
-2,511,025
-53% -$233M
V icon
24
Visa
V
$671B
$213M 0.76%
599,527
+9,568
+2% +$3.33M
PLD icon
25
Prologis
PLD
$134B
$210M 0.75%
1,994,333
+275,828
+16% +$28.9M
1
2 3 4 5

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State of Tennessee, Department of Treasury's Q2 2025 Portfolio in Review

As of Q2 2025, State of Tennessee, Department of Treasury held 1,782 positions worth $28B, up 7.3% from $26.1B the previous quarter. Its ten largest holdings account for 29% of the portfolio.

State of Tennessee, Department of Treasury's Q2 2025 filing shows 63 new, 481 increased, 719 reduced and 60 closed positions. Its largest new stake was Coinbase: 69,843 shares worth $24.5M. The largest sale was iShares MBS ETF, an estimated $233M.

By sector, the portfolio is most concentrated in Technology at 24% of assets, up from 22% a quarter earlier, followed by Financials and Consumer Discretionary.

  • State of Tennessee, Department of Treasury's largest Q2 2025 buy was Coinbase: 69,843 shares worth $24.5M.
  • State of Tennessee, Department of Treasury added most to Prologis in Q2 2025, an estimated $28.9M increase.
  • State of Tennessee, Department of Treasury's biggest Q2 2025 reduction was iShares MBS ETF, cutting an estimated $233M.
  • State of Tennessee, Department of Treasury fully exited iShares 20+ Year Treasury Bond ETF in Q2 2025, selling an estimated $202M.
  • State of Tennessee, Department of Treasury's ten largest holdings make up 29% of its $28B portfolio in Q2 2025.
  • State of Tennessee, Department of Treasury opened 63 new positions and closed 60 in Q2 2025.
  • State of Tennessee, Department of Treasury's portfolio value rose 7.3% quarter-over-quarter to $28B.

Based on State of Tennessee, Department of Treasury's 13F filing for Q2 2025, filed 15 Aug 2025.