State of Tennessee, Department of Treasury
Institutional investor · Portfolio as of Q2 2025
Top Holdings1,722 positions
NVIDIA Corp. | 8.5M | $1.3B | 4.8% | $11.17 | +1311.31% | 27 qtrssince 2018-Q4 | Decreased 0 |
Microsoft Corp. | 2.6M | $1.3B | 4.6% | $109.51 | +349.77% | 27 qtrssince 2018-Q4 | Decreased 0 |
Apple Inc. | 5.2M | $1.1B | 3.8% | $44.24 | +361.54% | 27 qtrssince 2018-Q4 | Decreased 0 |
ISHARES INC | 16M | $918.8M | 3.3% | $30.20 | +81.73% | 27 qtrssince 2018-Q4 | Increased 58 |
ISHARES TR | 15.7M | $872.3M | 3.1% | $42.76 | +30.23% | 27 qtrssince 2018-Q4 | Increased 58 |
Amazon.com, Inc. | 3.3M | $714.5M | 2.6% | $78.48 | +179.56% | 27 qtrssince 2018-Q4 | Decreased 0 |
Meta Platforms Inc | 762,224 | $562.6M | 2.0% | $147.93 | +396.91% | 27 qtrssince 2018-Q4 | Decreased 0 |
ISHARES INC | 7.3M | $520.7M | 1.9% | $53.42 | +31.42% | 27 qtrssince 2018-Q4 | Decreased 0 |
VANGUARD MORNINGSTAR TOTAL STOCK MARKET ETF | 1.7M | $502.9M | 1.8% | $187.08 | +60.18% | 27 qtrssince 2018-Q4 | Decreased 0 |
Broadcom Inc | 1.7M | $456.7M | 1.6% | $45.54 | +499.84% | 27 qtrssince 2018-Q4 | Decreased 0 |
Alphabet Inc. | 2M | $351.4M | 1.3% | $70.73 | +148.30% | 27 qtrssince 2018-Q4 | Decreased 0 |
Tesla Inc | 965,634 | $306.7M | 1.1% | $244.27 | +30.05% | 19 qtrssince 2020-Q4 | Decreased 0 |
Berkshire Hathaway Inc. | 626,627 | $304.4M | 1.1% | $266.14 | +82.52% | 27 qtrssince 2018-Q4 | Decreased 0 |
Alphabet Inc. | 1.7M | $300.1M | 1.1% | $53.00 | +233.54% | 27 qtrssince 2018-Q4 | Decreased 0 |
JPMorgan Chase & Co. | 974,872 | $282.6M | 1.0% | $85.73 | +230.22% | 27 qtrssince 2018-Q4 | Decreased 0 |
STATE STREET BLACKSTONE SENIOR LOAN ETF | 6.4M | $268.1M | 1.0% | $33.61 | +12.20% | 27 qtrssince 2018-Q4 | Decreased 0 |
VANGUARD FTSE DEVELOPED MARKETS ETF | 4.4M | $249M | 0.9% | $37.67 | +46.74% | 27 qtrssince 2018-Q4 | Decreased 0 |
ISHARES TR | 2.8M | $222.2M | 0.8% | $67.01 | +11.81% | 27 qtrssince 2018-Q4 | Decreased 0 |
VANGUARD SCOTTSDALE FDS | 2.6M | $219.7M | 0.8% | $68.11 | +14.68% | 27 qtrssince 2018-Q4 | Increased 44 |
Eli Lilly & Co. | 278,199 | $216.9M | 0.8% | $289.79 | +166.73% | 27 qtrssince 2018-Q4 | Increased 44 |
State of Tennessee, Department of Treasury manages $28B across 1722 positions as of Q2 2025. Top holdings: NVDA (4.8%), MSFT (4.6%), AAPL (3.8%). Fund DNA: Balanced Allocator. HoldingsIntel Score: 3.5/5.0.
Active quarter - 67 new positions, 64 exits, 482 increased. Top move: EWT (INCREASED, conviction 58). Portfolio: $28.0B across 1722 positions.
Top holdings by portfolio weight
Portfolio allocation by GICS sector
Behavioral investing profile
Position Outcomes
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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
Verify source filings on SEC EDGAR