— Know what they know.
Not Investment Advice
Asset Manager ← All Institutions

State of Tennessee, Department of Treasury

Q2 2025 · Filed 2025-08-15
Market Value
$27.8B
+7.4%
Holdings
1,749
-6
New Purchases
66
Added To
472
Closed
58
Reduced
706
Top 10 Concentration
29.7%
Turnover
7.1%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
NVDA 4.85% 3.69% +1.17% $1.3B
MSFT 4.61% 3.83% +0.78% $1.3B
AVGO 1.64% 1.11% +0.53% $457M
EWT 3.31% 2.93% +0.37% $919M
EWY 1.87% 1.55% +0.32% $521M
META 2.02% 1.77% +0.25% $563M
NFLX 0.73% 0.58% +0.14% $202M
AMZN 2.57% 2.44% +0.13% $714M
ORCL 0.41% 0.30% +0.12% $114M
TSLA 1.10% 1.01% +0.09% $307M
COIN 0.09% 0.00% +0.09% $24M
PLTR 0.33% 0.26% +0.08% $93M
COF 0.17% 0.10% +0.08% $48M
B 0.08% 0.00% +0.08% $21M
SPOT 0.27% 0.20% +0.07% $76M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
MBB 0.77% 1.73% -0.97% $213M
TLT 0.00% 0.78% -0.78% $0
AAPL 3.84% 4.56% -0.72% $1.1B
UNH 0.38% 0.66% -0.28% $106M
BRK-B 1.10% 1.31% -0.22% $304M
XOM 0.62% 0.75% -0.14% $172M
HYG 0.80% 0.92% -0.12% $222M
ICLR 0.00% 0.11% -0.11% $0
LLY 0.78% 0.88% -0.10% $217M
SRLN 0.97% 1.04% -0.08% $268M
CVX 0.28% 0.35% -0.08% $77M
TMO 0.22% 0.29% -0.07% $60M
FI 0.12% 0.20% -0.07% $35M
JNJ 0.46% 0.53% -0.07% $128M
BMY 0.11% 0.18% -0.07% $30M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 60 $12.2B 43.9%
Large Cap 628 $11.1B 39.9%
Mid Cap 659 $3.8B 13.6%
Small Cap 368 $505M 1.8%
Micro Cap 34 $193M 0.7%

Portfolio Analytics

Avg Market Cap
$48.4B
Median Market Cap
$6.2B
Avg P/E
31.4
Median P/E
21.5
Avg Dividend Yield
0.02%
Avg Beta
1.02
# Stocks
1,716
# ETFs / Funds
33

Top Holdings (1,749 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 NVDA 4.85% 8,535,057 $1.3B $157.99 $395M -266,485 -3.0%
2 MSFT 4.61% 2,576,377 $1.3B $497.41 $290M -64,341 -2.4%
3 AAPL 3.84% 5,204,956 $1.1B $205.17 -$112M -107,086 -2.0%
4 EWT 3.31% 16,006,156 $919M $57.40 $160M +25,092 +0.2%
5 INDA 3.14% 15,666,367 $872M $55.68 $68M +37,038 +0.2%
6 AMZN 2.57% 3,256,549 $714M $219.39 $83M -61,040 -1.8%
7 META 2.02% 762,224 $563M $738.09 $103M -34,357 -4.3%
8 EWY 1.87% 7,253,614 $521M $71.78 $119M -170,341 -2.3%
9 VTI 1.81% 1,654,571 $503M $303.93 $46M -6,850 -0.4%
10 AVGO 1.64% 1,656,920 $457M $275.65 $169M -61,342 -3.6%
11 GOOGL 1.26% 1,993,938 $351M $176.23 $33M -62,150 -3.0%
12 TSLA 1.10% 965,634 $307M $317.66 $44M -47,564 -4.7%
13 BRK-B 1.10% 626,627 $304M $485.77 -$35M -10,590 -1.7%
14 GOOG 1.08% 1,691,885 $300M $177.39 $29M -42,178 -2.4%
15 JPM 1.02% 974,872 $283M $289.91 $37M -27,110 -2.7%
16 SRLN 0.97% 6,446,331 $268M $41.59 -$2M -123,203 -1.9%
17 VEA 0.90% 4,367,054 $249M $57.01 $11M -306,764 -6.6%
18 HYG 0.80% 2,755,245 $222M $80.65 -$16M -259,623 -8.6%
19 VCIT 0.79% 2,649,104 $220M $82.92 $8M +62,747 +2.4%
20 LLY 0.78% 278,199 $217M $779.53 -$10M +3,805 +1.4%
21 VCLT 0.77% 2,827,927 $215M $75.90 $8M +107,304 +3.9%
22 EWZ 0.77% 7,397,615 $213M $28.85 $21M -41,052 -0.6%
23 MBB 0.77% 2,269,439 $213M $93.89 -$235M -2,511,025 -52.5%
24 V 0.77% 599,527 $213M $355.05 $6M +9,568 +1.6%
25 PLD 0.75% 1,994,333 $210M $105.12 $18M +275,828 +16.1%
26 NFLX 0.73% 150,591 $202M $1,339.13 $51M -11,224 -6.9%
27 VNQ 0.68% 2,111,185 $188M $89.06 $2M +58,287 +2.8%
28 XOM 0.62% 1,595,936 $172M $107.80 -$23M -45,900 -2.8%
29 VOO 0.60% 294,150 $167M $568.03 $16M
30 MA 0.57% 283,935 $160M $561.94 $4M +640 +0.2%
31 LIN 0.55% 323,104 $152M $469.18 -$35K -2,532 -0.8%
32 COST 0.54% 150,461 $149M $989.94 $5M -1,949 -1.3%
33 EZA 0.53% 2,754,119 $148M $53.75 $15M
34 WMT 0.52% 1,480,702 $145M $97.78 $10M -52,027 -3.4%
35 PG 0.48% 830,496 $132M $159.32 -$8M +7,482 +0.9%
36 JNJ 0.46% 834,810 $128M $152.75 -$10M +7,816 +0.9%
37 HD 0.46% 346,973 $127M $366.64 -$2M -4,977 -1.4%
38 RACE 0.45% 253,301 $124M $488.44 -$404K -39,688 -13.6%
39 ABBV 0.44% 656,273 $122M $185.62 -$9M +30,199 +4.8%
40 ORCL 0.41% 522,661 $114M $218.63 $38M -25,042 -4.6%
41 BAC 0.39% 2,310,448 $109M $47.32 $9M -102,802 -4.3%
42 RY 0.39% 826,207 $109M $131.53 $16M
43 UNH 0.38% 340,735 $106M $311.97 -$65M +14,425 +4.4%
44 PM 0.37% 562,970 $103M $182.13 $10M -21,470 -3.7%
45 CRM 0.36% 367,993 $100M $272.69 -$638K -8,314 -2.2%
46 GE 0.36% 389,418 $100M $257.39 $22M -1,483 -0.4%
47 KO 0.36% 1,395,090 $99M $70.75 -$4M -31,942 -2.2%
48 CSCO 0.35% 1,381,911 $96M $69.38 $8M -35,116 -2.5%
49 FALN 0.33% 3,428,800 $93M $27.14 $17M +582,591 +20.5%
50 PLTR 0.33% 682,540 $93M $136.32 $27M -102,311 -13.0%
51 IBM 0.33% 315,477 $93M $294.78 $12M -10,534 -3.2%
52 WFC 0.33% 1,153,114 $92M $80.12 $3M -87,522 -7.0%
53 SPGI 0.33% 173,123 $91M $527.29 $2M -3,207 -1.8%
54 SE 0.31% 543,203 $87M $159.94 $20M +27,964 +5.4%
55 SHOP 0.31% 741,888 $85M $115.10 $15M
56 ABT 0.30% 622,959 $85M $136.01 $3M +6,794 +1.1%
57 GS 0.30% 116,089 $82M $707.75 $7M -21,522 -15.6%
58 DIS 0.29% 645,537 $80M $124.01 $13M -31,793 -4.7%
59 AMD 0.28% 556,516 $79M $141.90 $21M -6,334 -1.1%
60 CVX 0.28% 538,919 $77M $143.19 -$14M -7,169 -1.3%
61 INTU 0.28% 97,649 $77M $787.63 $16M -1,920 -1.9%
62 SPOT 0.27% 99,152 $76M $767.34 $24M +4,180 +4.4%
63 TXN 0.27% 362,862 $75M $207.62 $15M +27,799 +8.3%
64 ISRG 0.27% 137,927 $75M $543.41 $11M +9,514 +7.4%
65 CNI 0.27% 718,137 $75M $104.00 $10M +52,201 +7.8%
66 T 0.26% 2,543,914 $74M $28.94 $2M -505 -0.0%
67 TD 0.26% 997,813 $73M $73.40 $13M
68 MCD 0.26% 248,326 $73M $292.17 $11M +51,285 +26.0%
69 NOW 0.26% 70,184 $72M $1,028.08 $14M -3,224 -4.4%
70 BKNG 0.25% 12,025 $70M $5,789.24 $12M -510 -4.1%
71 UBER 0.24% 727,579 $68M $93.30 $5M -129,705 -15.1%
72 MRK 0.24% 852,960 $68M $79.16 -$13M -40,692 -4.5%
73 RTX 0.24% 459,884 $67M $146.02 -$3M -67,647 -12.8%
74 UBS 0.23% 1,906,828 $64M $33.73 $8M +43,742 +2.4%
75 CAT 0.23% 165,553 $64M $388.21 $4M -17,347 -9.5%
76 ADBE 0.23% 165,087 $64M $386.88 -$1M -5,040 -3.0%
77 AXP 0.23% 198,778 $63M $318.98 $6M -14,803 -6.9%
78 BA 0.23% 298,367 $63M $209.53 $12M +288 +0.1%
79 MS 0.22% 442,369 $62M $140.86 $9M -14,422 -3.2%
80 ACN 0.22% 207,977 $62M $298.89 -$7M -14,397 -6.5%
81 VZ 0.22% 1,422,282 $62M $43.27 $7M +226,860 +19.0%
82 BSX 0.22% 562,611 $60M $107.41 $10M +64,742 +13.0%
83 TMO 0.22% 148,856 $60M $405.46 -$15M -2,176 -1.4%
84 EWM 0.22% 2,475,806 $60M $24.34 $4M +20,287 +0.8%
85 JPST 0.22% 1,181,800 $60M $50.68 -$9M -178,300 -13.1%
86 QCOM 0.21% 367,177 $58M $159.26 -$2M -28,775 -7.3%
87 CNQ 0.21% 1,843,412 $58M $31.37 $2M +29,840 +1.6%
88 SCHW 0.21% 630,886 $58M $91.24 $9M +14,382 +2.3%
89 ENB 0.20% 1,254,747 $57M $45.25 $1M
90 C 0.20% 657,535 $56M $85.12 $5M -57,338 -8.0%
91 PEP 0.20% 416,938 $55M $132.04 $5M +81,617 +24.3%
92 EIDO 0.20% 3,118,162 $55M $17.63 $3M -53,762 -1.7%
93 PGR 0.19% 202,979 $54M $266.86 -$4M -3,037 -1.5%
94 SYK 0.19% 135,095 $53M $395.63 $6M +7,181 +5.6%
95 EPOL 0.19% 1,646,796 $53M $32.26 $11M +132,755 +8.8%
96 AVB 0.19% 259,122 $53M $203.50 -$85K +13,028 +5.3%
97 AMAT 0.19% 284,986 $52M $183.07 $10M -8,200 -2.8%
98 DHR 0.19% 264,033 $52M $197.54 $2M +21,286 +8.8%
99 HON 0.19% 221,737 $52M $232.88 $9M +21,672 +10.8%
100 GEV 0.19% 97,467 $52M $529.15 $21M -3,961 -3.9%

New Positions

SymbolValue% Port
COIN $24M 0.09%
B $21M 0.08%
OR $8M 0.03%
EMRAF $8M 0.03%
OKTA $7M 0.03%
EFA $6M 0.02%
GRAB $6M 0.02%
APG $5M 0.02%
STRL $3M 0.01%
RAL $2M 0.01%
PEGA $1M —%
CAR $1M —%
GTLB $832K —%
JNK $829K —%
ZIM $650K —%

Sold Out Positions

SymbolValue% Port
RSI —%
WNC —%
NUS —%
TPB —%
RMAX —%
HY —%
SMWB —%
FC —%
PATH —%
IMAX —%
GPGI —%
LTH —%
VLN —%
TU —%
NIC —%
View SEC EDGAR Filings for State of Tennessee, Department of Treasury →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms