§ 13F · FUND PROFILE
State of Tennessee, Department of Treasury.
Tennessee state treasury, pension
AUM · $30.0B (13F)Positions · 1727Turnover · 56% · Q1Filed · May 15, 2026
CONCENTRATION
27%
Top 10 holdings
NEW BUYS
+54
+$209M deployed
EXITS
0
No exits
SECTOR SHIFT
MEDIA → OTHER
-1pp · +2pp
3YR HIT RATE
—
Top-5 overlap
§ 01 · TOP HOLDINGS
The book · Q1 2026
FILED MAY 15, 2026
| # | Ticker | Name | Shares | $ value | % port | Δ Q1 |
|---|---|---|---|---|---|---|
| 1 | NVDA | NVIDIA CORPORATION COM | 8.42M | $1.5B | 4.9% | ±0% |
| 2 | AAPL | APPLE INC COM | 5.11M | $1.3B | 4.4% | ±0% |
| 3 | MSFT | MICROSOFT CORP COM | 2.58M | $956M | 3.2% | ±0% |
| 4 | EWY | ISHARES INC MSCI STH KOR ETF | 6.20M | $763M | 2.6% | −9% |
| 5 | AMZN | AMAZON COM INC COM | 3.37M | $703M | 2.4% | +1% |
| 6 | EWT | ISHARES INC MSCI TAIWAN ETF | 9.60M | $681M | 2.3% | −23% |
| 7 | GOOGL | ALPHABET INC CAP STK CL A | 1.98M | $570M | 1.9% | ±0% |
| 8 | VTI | VANGUARD INDEX FDS TOTAL STK MKT | 1.64M | $526M | 1.8% | +4% |
| 9 | AVGO | BROADCOM INC COM | 1.63M | $506M | 1.7% | ±0% |
| 10 | GOOG | ALPHABET INC CAP STK CL C | 1.65M | $473M | 1.6% | ±0% |
§ 02 · SECTOR ALLOCATION
Where the money is
Other42.4% (+2pp)
Technology11.4% (±0)
Semiconductors11.1% (±0)
Media6.2% (−1pp)
Retail5.6% (±0)
Real Estate4.8%
§ 03 · THE STATE SIGNAL
AC read
State of Tennessee, Department of Treasury is a Income / Defensive fund managing $30.0 billion in assets. The fund runs a massive portfolio of 1,727 positions, broad diversification across holdings, with the top 10 accounting for 27%. Trading activity is aggressive at 56% quarterly turnover, with 54 new positions and 0 exits last quarter. Top sector allocations: Other (42%), Technology (11%), Semiconductors (11%).
Read the full dossier →§ 04 · FILING HISTORY
Q-by-Q deltas
2 FILINGS
Q1 2026
Busy quarter
+54 buys · −0 exits · 910 changed
Q4 2025
Busy quarter
+94 buys · −0 exits · 1610 changed
Q3 2025
Busy quarter
+1727 buys · −0 exits · 0 changed
Q1 2025
Busy quarter
+1719 buys · −0 exits · 0 changed