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

State of Tennessee, Department of Treasury

Q4 2025 · Filed 2026-02-18
Market Value
$31.1B
+4.2%
Holdings
1,788
+24
New Purchases
88
Added To
470
Closed
88
Reduced
1,120
Top 10 Concentration
28.5%
Turnover
9.8%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
TSM 0.76% 0.00% +0.76% $238M
EWY 2.69% 1.94% +0.75% $836M
GOOGL 2.15% 1.62% +0.53% $670M
GOOG 1.79% 1.36% +0.43% $557M
MU 0.49% 0.23% +0.26% $152M
LLY 0.89% 0.68% +0.21% $277M
AMD 0.43% 0.29% +0.14% $133M
AMZN 2.56% 2.43% +0.12% $795M
PLD 1.00% 0.88% +0.11% $310M
AMAT 0.31% 0.20% +0.11% $96M
XOM 0.72% 0.61% +0.11% $223M
LRCX 0.28% 0.18% +0.10% $88M
JNJ 0.60% 0.50% +0.10% $187M
TEVA 0.10% 0.00% +0.10% $30M
TOTB.DE 0.09% 0.00% +0.09% $29M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
MSFT 3.58% 4.50% -0.91% $1.1B
EWT 2.74% 3.47% -0.73% $853M
HYG 0.31% 0.62% -0.31% $97M
RACE 0.13% 0.42% -0.29% $41M
SHYG 0.00% 0.23% -0.23% $0
INDA 1.82% 2.05% -0.23% $565M
ORCL 0.30% 0.51% -0.22% $92M
NFLX 0.40% 0.61% -0.21% $123M
NVDA 5.17% 5.31% -0.14% $1.6B
AAPL 4.27% 4.40% -0.13% $1.3B
META 1.73% 1.86% -0.13% $538M
TSLA 1.33% 1.45% -0.12% $413M
UNH 0.28% 0.39% -0.11% $89M
JPM 0.96% 1.06% -0.10% $299M
PLTR 0.34% 0.44% -0.10% $107M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 61 $14.5B 46.5%
Large Cap 649 $12.2B 39.4%
Mid Cap 681 $3.7B 11.8%
Small Cap 373 $533M 1.7%
Micro Cap 24 $204M 0.7%

Portfolio Analytics

Avg Market Cap
$49.2B
Median Market Cap
$6.3B
Avg P/E
31.3
Median P/E
21.3
Avg Dividend Yield
0.02%
Avg Beta
1.03
# Stocks
1,753
# ETFs / Funds
35

Top Holdings (1,788 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 NVDA 5.17% 8,416,478 $1.6B $191.13 $23M -83,780 -1.0%
2 AAPL 4.27% 5,119,921 $1.3B $259.48 $14M -44,375 -0.9%
3 MSFT 3.58% 2,592,119 $1.1B $430.29 -$228M -2,162 -0.1%
4 EWT 2.74% 12,525,798 $853M $68.06 -$185M -3,784,595 -23.2%
5 EWY 2.69% 6,830,675 $836M $122.41 $257M -395,879 -5.5%
6 AMZN 2.56% 3,324,166 $795M $239.30 $69M +14,887 +0.5%
7 GOOGL 2.15% 1,981,613 $670M $338.00 $186M -8,330 -0.4%
8 INDA 1.82% 10,925,403 $565M $51.74 -$46M -813,540 -6.9%
9 GOOG 1.79% 1,644,985 $557M $338.53 $150M -25,620 -1.5%
10 AVGO 1.74% 1,630,746 $540M $331.30 -$5M -22,363 -1.4%
11 VTI 1.73% 1,582,521 $539M $340.57 $23M +10,072 +0.6%
12 META 1.73% 751,330 $538M $716.50 -$17M -5,269 -0.7%
13 TSLA 1.33% 960,005 $413M $430.41 -$19M -11,468 -1.2%
14 PLD 1.00% 2,373,939 $310M $130.56 $46M +70,916 +3.1%
15 JPM 0.96% 978,881 $299M $305.89 -$18M -25,991 -2.6%
16 BRK-B 0.96% 622,564 $299M $480.53 -$15M -3,166 -0.5%
17 VEA 0.92% 4,321,161 $286M $66.20 $25M -35,526 -0.8%
18 LLY 0.89% 267,279 $277M $1,037.15 $73M -722 -0.3%
19 SRLN 0.83% 6,289,986 $258M $40.96 -$17M -310,992 -4.7%
20 EWZ 0.82% 6,928,103 $257M $37.04 $29M -409,445 -5.6%
21 VCIT 0.79% 2,914,914 $245M $83.95 $15M +189,013 +6.9%
22 MBB 0.76% 2,486,872 $238M $95.69 $15M +147,972 +6.3%
23 TSM 0.76% 718,960 $238M $330.56 +718,960 NEW
24 VCLT 0.76% 3,112,025 $237M $76.21 $14M +235,758 +8.2%
25 XOM 0.72% 1,577,417 $223M $141.40 $42M -32,684 -2.0%
26 VNQ 0.66% 2,273,759 $206M $90.80 -$13M -128,064 -5.3%
27 EZA 0.65% 2,754,119 $202M $73.20 $25M
28 FLIN 0.62% 5,213,024 $193M $37.04 -$1M
29 V 0.61% 586,473 $189M $321.83 -$19M -23,330 -3.8%
30 JNJ 0.60% 821,632 $187M $227.25 $38M +17,150 +2.1%
31 WMT 0.58% 1,507,396 $180M $119.14 $26M +16,093 +1.1%
32 VOO 0.57% 277,910 $177M $636.22 -$3M -15,261 -5.2%
33 MA 0.50% 289,663 $156M $538.79 -$6M +5,425 +1.9%
34 MU 0.49% 366,502 $152M $414.88 $83M -48,873 -11.8%
35 COST 0.45% 149,272 $140M $940.25 $1M -853 -0.6%
36 ABBV 0.44% 619,322 $138M $223.01 -$4M +7,616 +1.2%
37 LIN 0.44% 297,963 $136M $456.97 -$16M -22,071 -6.9%
38 RY 0.43% 802,436 $134M $167.43 $14M -16,161 -2.0%
39 AMD 0.43% 560,601 $133M $236.73 $46M +25,776 +4.8%
40 HD 0.42% 347,763 $130M $374.59 -$11M -551 -0.2%
41 NFLX 0.40% 1,474,868 $123M $83.49 -$59M +1,322,942 +870.8%
42 BAC 0.40% 2,311,932 $123M $53.20 $4M +1,484 +0.1%
43 CVX 0.38% 665,738 $118M $176.90 $13M -9,675 -1.4%
44 PG 0.38% 769,696 $117M $151.77 -$3M -11,100 -1.4%
45 SHOP 0.37% 863,216 $114M $131.80 $7M +143,813 +20.0%
46 GE 0.36% 368,181 $113M $306.79 -$4M -20,391 -5.2%
47 CAT 0.35% 165,794 $109M $657.36 $29M -1,502 -0.9%
48 CSCO 0.34% 1,367,451 $107M $78.32 $6M -108,320 -7.3%
49 PLTR 0.34% 729,867 $107M $146.59 -$25M +8,075 +1.1%
50 WFC 0.34% 1,160,064 $105M $90.49 $8M +432 +0.0%
51 MRK 0.33% 939,521 $104M $110.27 $24M -11,793 -1.2%
52 GS 0.33% 110,029 $103M $935.41 $12M -4,060 -3.6%
53 PM 0.32% 561,754 $101M $179.44 $3M -43,560 -7.2%
54 KO 0.32% 1,315,403 $98M $74.81 $3M -127,541 -8.8%
55 HYG 0.31% 1,198,867 $97M $81.12 -$89M -1,099,696 -47.8%
56 RTX 0.31% 481,915 $97M $200.93 $15M -6,826 -1.4%
57 AMAT 0.31% 299,164 $96M $322.32 $38M +11,635 +4.0%
58 IBM 0.30% 302,201 $93M $306.70 -$1M -31,427 -9.4%
59 ORCL 0.30% 559,534 $92M $164.58 -$62M +13,368 +2.5%
60 SPGI 0.29% 172,187 $91M $527.79 $7M -936 -0.5%
61 TD 0.29% 958,040 $90M $93.98 $10M -37,573 -3.8%
62 UNH 0.28% 309,011 $89M $286.93 -$29M -32,472 -9.5%
63 LRCX 0.28% 376,865 $88M $233.46 $34M -24,027 -6.0%
64 UBS 0.28% 1,841,257 $87M $47.26 $8M -90,123 -4.7%
65 SE 0.27% 718,949 $84M $116.49 -$13M +175,746 +32.4%
66 MS 0.25% 431,847 $79M $182.80 $10M -3,522 -0.8%
67 INTC 0.25% 1,694,188 $79M $46.47 $27M +161,625 +10.6%
68 MCD 0.25% 246,443 $78M $315.00 $87K -8,724 -3.4%
69 CRM 0.25% 363,903 $77M $212.29 -$9M +1,906 +0.5%
70 PEP 0.24% 495,514 $76M $153.63 $21M +101,941 +25.9%
71 TXN 0.24% 350,240 $75M $215.55 $21M +52,097 +17.5%
72 TMO 0.24% 129,644 $75M $578.61 $6M -11,754 -8.3%
73 C 0.23% 631,632 $73M $115.71 $6M -25,903 -3.9%
74 BA 0.23% 311,889 $73M $233.72 $11M +26,316 +9.2%
75 ABT 0.23% 648,929 $71M $109.30 -$11M +34,091 +5.5%
76 AVB 0.23% 398,173 $71M $177.67 $10M +85,189 +27.2%
77 DIS 0.23% 625,194 $71M $112.80 -$570K +4,301 +0.7%
78 GILD 0.22% 488,599 $69M $141.95 $22M +62,567 +14.7%
79 AXP 0.22% 195,460 $69M $352.17 $3M -3,318 -1.7%
80 ACN 0.22% 260,109 $69M $263.64 $18M +56,699 +27.9%
81 GEV 0.22% 93,576 $68M $726.37 $8M -4,061 -4.2%
82 T 0.22% 2,567,444 $67M $26.21 -$10M -168,637 -6.2%
83 KLAC 0.21% 46,649 $67M $1,427.94 $9M -6,709 -12.6%
84 NEE 0.21% 756,917 $67M $87.90 $14M +54,555 +7.8%
85 CNQ 0.21% 1,771,015 $66M $37.39 $7M -68,797 -3.7%
86 UBER 0.21% 825,880 $66M $80.05 -$15M -3,360 -0.4%
87 EQR 0.21% 1,058,213 $66M $62.32 $12M +227,806 +27.4%
88 FALN 0.21% 2,328,300 $64M $27.57 -$7M -218,200 -8.6%
89 EWM 0.21% 2,193,944 $64M $29.18 $4M -136,615 -5.9%
90 SCHW 0.21% 615,980 $64M $103.92 $4M -14,906 -2.4%
91 VZ 0.20% 1,432,194 $64M $44.52 $2M +35,801 +2.6%
92 ASML 0.19% 42,600 $61M $1,423.00 $17M -2,745 -6.0%
93 APH 0.19% 418,854 $60M $144.08 $9M +476 +0.1%
94 ENB 0.19% 1,228,082 $60M $49.09 -$3M -24,265 -1.9%
95 TJX 0.19% 401,621 $60M $149.81 $3M +8,124 +2.1%
96 SPOT 0.19% 118,956 $60M $500.35 -$3M +29,491 +33.0%
97 AMGN 0.19% 173,489 $59M $341.88 $7M -12,288 -6.6%
98 ADI 0.18% 183,233 $57M $310.88 $8M -16,029 -8.0%
99 BKNG 0.18% 11,259 $56M $5,001.84 -$10M -952 -7.8%
100 EPOL 0.18% 1,495,603 $56M $37.59 $6M -66,927 -4.3%

New Positions

SymbolValue% Port
TSM $238M 0.76%
TEVA $30M 0.10%
TOTB.DE $29M 0.09%
CRH.L $26M 0.08%
JNK $21M 0.07%
CVNA $19M 0.06%
CLS $18M 0.06%
VRT $10M 0.03%
FERG $9M 0.03%
ESLT $7M 0.02%
ARES $6M 0.02%
Q $6M 0.02%
PINS $5M 0.02%
TIGO $5M 0.01%
SOLS $4M 0.01%

Sold Out Positions

SymbolValue% Port
RM —%
COTY —%
SMWB —%
OMF —%
EGO —%
BGS —%
OOMA —%
LXP —%
PKE —%
ODC —%
GRDN —%
ASIX —%
AQN —%
AGI —%
OTF —%
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