State of Tennessee, Department of Treasury
Institutional investor · Portfolio as of Q1 2025
Top Holdings1,719 positions
Stock | Shares | Value | Weight | Avg Buy | Est. P&L | Held | Conviction |
|---|---|---|---|---|---|---|---|
APPLE INC | 5.3M | $1.2B | 4.5% | $95.31 | +131.64% | 26 qtrssince 2018-Q4 | Decreased 0 |
MICROSOFT CORP | 2.6M | $991.3M | 3.8% | $109.59 | +243.80% | 26 qtrssince 2018-Q4 | Decreased 0 |
NVIDIA CORP | 8.8M | $953.9M | 3.7% | $112.73 | -2.73% | 26 qtrssince 2018-Q4 | Decreased 0 |
ISHARES MSCI INDIA ETF | 15.6M | $804.6M | 3.1% | $42.67 | +20.17% | 26 qtrssince 2018-Q4 | Increased 79 |
ISHARES INC MSCI TAIWAN ETF | 16M | $758.8M | 2.9% | $30.20 | +51.39% | 26 qtrssince 2018-Q4 | Increased 55 |
AMAZON.COM INC | 3.3M | $631.2M | 2.4% | $107.44 | +79.38% | 26 qtrssince 2018-Q4 | Decreased 0 |
META PLATFORMS INC-CLASS A | 796,581 | $459.1M | 1.8% | $149.64 | +284.56% | 26 qtrssince 2018-Q4 | Increased 50 |
VANGUARD TOTAL STOCK MARKET VIPERS | 1.7M | $456.6M | 1.8% | $188.68 | +43.68% | 26 qtrssince 2018-Q4 | Increased 52 |
ISHARES MBS ETF | 4.8M | $448.3M | 1.7% | $83.11 | +6.24% | 26 qtrssince 2018-Q4 | Decreased 0 |
ISHARES MSCI SOUTH KOREA ETF | 7.4M | $401.2M | 1.5% | $53.57 | +0.03% | 26 qtrssince 2018-Q4 | Increased 49 |
BERKSHIRE HATHAWAY INC-CL B | 637,217 | $339.4M | 1.3% | $265.77 | +98.03% | 26 qtrssince 2018-Q4 | Decreased 0 |
ALPHABET INC-CL A | 2.1M | $318M | 1.2% | $103.87 | +48.16% | 26 qtrssince 2018-Q4 | Decreased 0 |
BROADCOM INC | 1.7M | $287.7M | 1.1% | $157.35 | +5.39% | 26 qtrssince 2018-Q4 | Increased 50 |
ALPHABET INC-CL C | 1.7M | $270.9M | 1.0% | $95.14 | +63.59% | 26 qtrssince 2018-Q4 | Decreased 0 |
SSGA ACTIVE ETF TR | 6.6M | $270.2M | 1.0% | $34.03 | +8.86% | 26 qtrssince 2018-Q4 | Increased 54 |
TESLA INC | 1M | $262.6M | 1.0% | $256.31 | +2.82% | 18 qtrssince 2020-Q4 | Increased 50 |
JPMORGAN CHASE & CO | 1M | $245.8M | 0.9% | $86.21 | +176.02% | 26 qtrssince 2018-Q4 | Decreased 0 |
ISHR IBX USD HIYLD CB ETF-UI | 3M | $237.8M | 0.9% | $67.38 | +7.78% | 26 qtrssince 2018-Q4 | Increased 54 |
VANGUARD FTSE DEVELOPED ETF | 4.7M | $237.6M | 0.9% | $38.06 | +30.72% | 26 qtrssince 2018-Q4 | Decreased 0 |
ELI LILLY & CO | 274,394 | $226.6M | 0.9% | $283.09 | +188.69% | 26 qtrssince 2018-Q4 | Decreased 0 |
State of Tennessee, Department of Treasury manages $26.1B across 1719 positions as of Q1 2025. Top holdings: AAPL (4.5%), MSFT (3.8%), NVDA (3.7%). Fund DNA: Balanced Allocator. HoldingsIntel Rating: 3.5/5.0.
Active quarter - 57 new positions, 75 exits, 476 increased. Top move: INDA (INCREASED, conviction 79). Portfolio: $26.1B across 1719 positions.
Top holdings by portfolio weight
Portfolio allocation by GICS sector
Behavioral investing profile
Position Outcomes
Best and worst performing positions by estimated return
Top Winners
Top Losers
Cost basis estimates based on full filing history using quarter-end prices. Actual transaction prices are not disclosed in 13F filings.
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Data sourced from SEC EDGAR 13F filings. Not financial advice. Full disclaimer