State of Tennessee, Department of Treasury
CIK
1587973
Location
NASHVILLE, TN
Portfolio Value
Large
$23,947,084,880
Diversification
Diversified
Filing Date
Global Rank
#246
/ 8,617
▼ 1
· as of Mar 2026
Top Industry
Semiconductors
12.2%
3Y Alpha vs SPY
-2.8%
Period ended 4 months ago
Filed May 15, 2026 · 2mo
25 quarters · since Mar 2020
Clone Performance
Jul 2023–Jul 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
+59.6%
SPY
+69.4%
Annualised alpha
-2.4%
Max drawdown
−18.7%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
1,678 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025Top Position
6.1%
−0.3 pts
Top 5
20.8%
−2.1 pts
Top 10
29.2%
−2.4 pts
HHI
131
Diversified−19
Portfolio Trend
25 quarters · across all stocks
Sector Breakdown
As of Mar 31, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Technology | 30.4% | $7,274,939,160 |
| Financial Services | 13.8% | $3,295,849,755 |
| Industrials | 9.4% | $2,255,613,438 |
| Consumer Cyclical | 9.2% | $2,212,763,325 |
| Healthcare | 9.1% | $2,173,025,189 |
| Communication Services | 6.9% | $1,656,466,389 |
| Real Estate | 5.9% | $1,417,636,672 |
| Energy | 5.2% | $1,254,244,908 |
| Consumer Defensive | 4.6% | $1,100,188,567 |
| Basic Materials | 3.0% | $724,831,405 |
| Utilities | 2.4% | $573,462,135 |
| Unclassified | 0.0% | $8,063,937 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| PCG | PG&E Corp | +385,678 | 966,363 | $16,978,997 | |
| TSM | Taiwan Semiconductor Manufacturing Co Ltd | +347,252 | 1,066,212 | $360,326,345 | |
| ALC | Alcon Inc | +224,224 | 703,352 | $52,997,573 | |
| PLD | Prologis, Inc. | +209,073 | 2,583,012 | $341,422,526 | |
| HRL | Hormel Foods Corp /De/ | +166,177 | 196,847 | $4,458,584 | |
| VNO | Vornado Realty Trust | +159,990 | 854,747 | $22,214,874 | |
| KIM | Kimco Realty Corp | +146,550 | 1,134,347 | $25,488,777 | |
| EQR | Equity Residential | +135,939 | 1,194,152 | $70,634,090 | |
| CVS | CVS HEALTH Corp | +133,820 | 598,788 | $43,004,954 | |
| TEVA | Teva Pharmaceutical Industries Ltd | +127,896 | 1,021,086 | $30,755,110 | |
| CUZ | Cousins Properties Inc | +125,362 | 664,028 | $14,987,111 | |
| UDR | UDR, Inc. | +123,573 | 1,186,001 | $40,063,113 | |
| BSX | Boston Scientific Corp | +120,009 | 595,945 | $37,395,548 | |
| BXP | BXP, Inc. | +105,111 | 696,202 | $36,132,883 | |
| UBS | UBS Group AG | +95,684 | 1,936,941 | $75,676,284 | |
| MTCH | Match Group, Inc. | +92,780 | 123,146 | $3,781,813 | |
| KVUE | Kenvue Inc. | +91,077 | 303,655 | $5,235,012 | |
| KRC | Kilroy Realty Corp | +88,779 | 482,577 | $13,613,497 | |
| MDT | Medtronic plc | +88,324 | 534,109 | $46,280,544 | |
| SYY | Sysco Corp | +86,258 | 222,792 | $15,891,753 | |
| CAG | Conagra Brands Inc. | +86,114 | 138,333 | $2,174,594 | |
| CDP | Copt Defense Properties | +85,198 | 456,070 | $13,955,742 | |
| VRT | Vertiv Holdings Co | +84,102 | 136,487 | $34,200,912 | |
| OXY | Occidental Petroleum Corp /De/ | +80,104 | 183,398 | $11,920,870 | |
| FTNT | Fortinet, Inc. | +73,677 | 216,269 | $17,673,502 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| VTRS | Viatris Inc | −930,051 | 234,477 | $3,167,784 | |
| NOK | Nokia Corp | −907,050 | 1,964,140 | $15,791,685 | |
| IVZ | Invesco Ltd. | −247,164 | 200,170 | $4,862,129 | |
| DXCM | Dexcom Inc | −166,149 | 82,805 | $5,200,154 | |
| TSEM | Tower Semiconductor Ltd | −154,079 | 31,836 | $5,586,581 | |
| SOLV | Solventum Corp | −131,112 | 30,389 | $1,984,401 | |
| OKE | Oneok Inc /New/ | −125,801 | 125,388 | $11,333,821 | |
| HAFN | Hafnia Ltd | −124,883 | 510,083 | $3,876,630 | |
| XOM | ExxonMobil Holdings Corp | −122,283 | 1,455,134 | $246,878,034 | |
| PRGO | PERRIGO Co plc | −112,946 | 30,790 | $330,684 | |
| MNST | Monster Beverage Corp | −111,757 | 266,018 | $19,275,664 | |
| EXC | Exelon Corp | −104,800 | 419,768 | $20,577,027 | |
| HAL | Halliburton Co | −97,564 | 361,571 | $14,097,653 | |
| AES | Aes Corp | −97,032 | 72,488 | $1,021,355 | |
| DAL | Delta Air Lines, Inc. | −91,452 | 270,455 | $17,979,848 | |
| T | At&T Inc. | −89,728 | 2,477,716 | $71,828,986 | |
| LIN | Linde PLC | −86,581 | 211,382 | $104,794,740 | |
| BMY | Bristol Myers Squibb Co | −85,360 | 651,057 | $39,486,607 | |
| COO | Cooper Companies, Inc. | −80,679 | 42,135 | $3,012,652 | |
| CCL | Carnival Corp Ltd. | −79,538 | 333,366 | $8,627,512 | |
| WMB | Williams Companies, Inc. | −72,400 | 422,211 | $30,728,516 | |
| RACE | Ferrari N.V. | −68,673 | 54,346 | $18,393,403 | |
| MOH | Molina Healthcare, Inc. | −67,803 | 11,192 | $1,491,893 | |
| NKE | NIKE, Inc. | −65,892 | 417,020 | $22,026,996 | |
| MARA | MARA Holdings, Inc. | −65,331 | 83,657 | $682,641 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
25 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| AZN | Astrazeneca PLC | 256,980 | $50,681,595 | |
| SUNB | Sunbelt Rentals Holdings, Inc. | 203,639 | $13,254,862 | |
| PNFP | Pinnacle Financial Partners, Inc. | 63,562 | $5,475,230 | |
| AMCR | Amcor plc | 116,865 | $4,645,383 | |
| MDA | MDA Space Ltd. | 109,132 | $2,763,222 | |
| BROS | Dutch Bros Inc. | 48,000 | $2,431,680 | |
| AHR | American Healthcare REIT, Inc. | 48,012 | $2,264,245 | |
| AGX | Argan Inc | 4,090 | $2,227,618 | |
| RITM | Rithm Capital Corp. | 191,207 | $1,812,642 | |
| APLS | Apellis Pharmaceuticals, Inc. | 40,180 | $1,616,441 | |
| ADT | ADT Inc. | 236,060 | $1,550,914 | |
| ETOR | eToro Group Ltd. | 50,901 | $1,528,557 | |
| LAUR | Laureate Education, Inc. | 41,727 | $1,453,768 | |
| FRO | Frontline plc | 34,515 | $1,203,192 | |
| INDV | Indivior Pharmaceuticals, Inc. | 39,030 | $1,189,634 | |
| LYFT | Lyft, Inc. | 88,650 | $1,179,045 | |
| AMRX | Amneal Pharmaceuticals, Inc. | 79,395 | $986,879 | |
| WINA | Winmark Corp | 2,127 | $909,398 | |
| SPHR | Sphere Entertainment Co. | 5,740 | $673,876 | |
| OSW | ONESPAWORLD HOLDINGS Ltd | 24,900 | $571,455 | |
| SUNC | SunocoCorp LLC | 7,975 | $491,658 | |
| COCO | Vita Coco Company, Inc. | 10,090 | $483,411 | |
| MBIN | Merchants Bancorp | 11,263 | $483,295 | |
| BIPC | Brookfield Infrastructure Corp | 11,321 | $447,405 | |
| BWLP | BW LPG Ltd | 23,605 | $410,018 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
25 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| MNDY | monday.com Ltd. | 73,539 | $10,851,414 | |
| ODD | Oddity Tech Ltd | 47,850 | $1,922,613 | |
| GRAB | Grab Holdings Ltd | 253,776 | $1,266,342 | |
| CAR | Avis Budget Group, Inc. | 7,426 | $952,904 | |
| TGNA | TEGNA INC | 37,152 | $721,120 | |
| DOLE | Dole plc | 39,264 | $588,567 | |
| HTBK | HERITAGE COMMERCE CORP | 48,960 | $588,009 | |
| HBNC | Horizon Bancorp Inc /In/ | 32,186 | $545,874 | |
| AB | Alliancebernstein Holding L.P. | 12,769 | $491,351 | |
| DAKT | Daktronics Inc /Sd/ | 22,164 | $438,182 | |
| SPT | Sprout Social, Inc. | 38,071 | $429,060 | |
| PAAS | Pan American Silver Corp | 8,000 | $414,480 | |
| TNET | Trinet Group, Inc. | 6,946 | $410,716 | |
| FFIC | Flushing Financial Corp | 26,892 | $407,951 | |
| DEC | Diversified Energy Co | 27,037 | $391,495 | |
| BFST | Business First Bancshares, Inc. | 14,469 | $378,219 | |
| NAVN | Navan, Inc. | 21,611 | $369,115 | |
| GTN | Gray Media, Inc | 74,225 | $359,249 | |
| ORRF | Orrstown Financial Services Inc | 9,121 | $323,065 | |
| ARVN | Arvinas, Inc. | 27,212 | $322,734 | |
| COFS | Choiceone Financial Services Inc | 10,670 | $314,978 | |
| FROG | JFrog Ltd | 3,932 | $245,592 | |
| CRMD | CorMedix Inc. | 19,205 | $223,354 | |
| SIGA | Siga Technologies Inc | 36,398 | $222,391 | |
| BY | Byline Bancorp, Inc. | 7,533 | $219,586 | |
| No positions match the current search. | ||||
1,678 positions ·
$23,947,084,880 total
· as of Mar 31, 2026
All sectors
Basic Materials
Communication Services
Consumer Cyclical
Consumer Defensive
Energy
Financial Services
Healthcare
Industrials
Real Estate
Technology
Utilities
Showing 1–50
of 1,678 positions by value
· page 1 of 34
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| NVDA |
Nvidia Corp
Technology
|
Added | 8,419,829 | $1,468,418,177 | 6.13% | |
| AAPL |
Apple Inc.
Technology
|
Reduced | 5,105,030 | $1,295,605,563 | 5.41% | |
| MSFT |
Microsoft Corp
Technology
|
Reduced | 2,582,031 | $955,790,415 | 3.99% | |
| AMZN |
Amazon Com Inc
Consumer Cyclical
|
Added | 3,373,797 | $702,660,701 | 2.93% | |
| GOOGL |
Alphabet Inc.
Communication Services
|
Reduced | 1,981,131 | $569,694,030 | 2.38% | |
| AVGO |
Broadcom Inc.
Technology
|
Added | 1,634,512 | $505,897,809 | 2.11% | |
| META |
Meta Platforms, Inc.
Communication Services
|
Added | 752,330 | $430,430,562 | 1.80% | |
| TSM |
Taiwan Semiconductor Manufacturing Co Ltd
Technology
|
Added | 1,066,212 | $360,326,345 | 1.50% | |
| TSLA |
Tesla, Inc.
Consumer Cyclical
|
Added | 961,005 | $357,253,608 | 1.49% | |
| PLD |
Prologis, Inc.
Real Estate
|
Added | 2,583,012 | $341,422,526 | 1.43% | |
| BRK-B |
Berkshire Hathaway Inc
Financial Services
|
Added | 627,873 | $300,876,741 | 1.26% | |
| JPM |
Jpmorgan Chase & Co
Financial Services
|
Reduced | 978,763 | $287,912,924 | 1.20% | |
| XOM |
ExxonMobil Holdings Corp
Energy
|
Reduced | 1,455,134 | $246,878,034 | 1.03% | |
| LLY |
ELI LILLY & Co
Healthcare
|
Added | 268,388 | $246,855,230 | 1.03% | |
| JNJ |
Johnson & Johnson
Healthcare
|
Added | 893,163 | $218,324,763 | 0.91% | |
| WMT |
Walmart Inc.
Consumer Defensive
|
Reduced | 1,505,267 | $187,074,582 | 0.78% | |
| V |
Visa Inc.
Financial Services
|
Added | 616,473 | $186,322,799 | 0.78% | |
| COST |
Costco Wholesale Corp /New
Consumer Defensive
|
Reduced | 149,093 | $148,560,737 | 0.62% | |
| MA |
Mastercard Inc
Financial Services
|
Reduced | 287,108 | $143,456,383 | 0.60% | |
| NFLX |
Netflix Inc
Communication Services
|
Added | 1,486,053 | $142,883,995 | 0.60% | |
| ABBV |
AbbVie Inc.
Healthcare
|
Added | 640,722 | $139,350,627 | 0.58% | |
| CVX |
Chevron Corp
Energy
|
Reduced | 659,941 | $136,541,792 | 0.57% | |
| MU |
Micron Technology Inc
Technology
|
Added | 391,334 | $132,208,278 | 0.55% | |
| RY |
Royal Bank Of Canada
Financial Services
|
Reduced | 798,095 | $129,115,809 | 0.54% | |
| HD |
Home Depot, Inc.
Consumer Cyclical
|
Added | 360,906 | $118,698,374 | 0.50% | |
| CAT |
Caterpillar Inc
Industrials
|
Reduced | 165,199 | $117,036,883 | 0.49% | |
| MRK |
Merck & Co., Inc.
Healthcare
|
Added | 964,590 | $116,030,531 | 0.48% | |
| AMD |
Advanced Micro Devices Inc
Technology
|
Added | 564,752 | $114,887,499 | 0.48% | |
| BAC |
Bank Of America Corp /De/
Financial Services
|
Reduced | 2,309,563 | $112,591,196 | 0.47% | |
| PG |
PROCTER & GAMBLE Co
Consumer Defensive
|
Held | 769,696 | $111,174,890 | 0.46% | |
| PLTR |
Palantir Technologies Inc.
Technology
|
Added | 733,241 | $107,258,493 | 0.45% | |
| CSCO |
Cisco Systems, Inc.
Technology
|
Added | 1,380,448 | $107,108,960 | 0.45% | |
| AMAT |
Applied Materials Inc /De
Technology
|
Added | 307,351 | $105,049,498 | 0.44% | |
| SHOP |
Shopify Inc.
Technology
|
Added | 884,154 | $104,878,347 | 0.44% | |
| LIN |
Linde PLC
Basic Materials
|
Reduced | 211,382 | $104,794,740 | 0.44% | |
| GE |
General Electric Co
Industrials
|
Reduced | 366,796 | $104,085,700 | 0.43% | |
| KO |
Coca Cola Co
Consumer Defensive
|
Reduced | 1,295,019 | $98,486,194 | 0.41% | |
| UNH |
Unitedhealth Group Inc
Healthcare
|
Added | 357,148 | $96,640,677 | 0.40% | |
| PM |
Philip Morris International Inc.
Consumer Defensive
|
Added | 571,410 | $94,476,929 | 0.39% | |
| RTX |
RTX Corp
Industrials
|
Added | 483,369 | $93,241,880 | 0.39% | |
| LRCX |
Lam Research Corp
Technology
|
Added | 420,767 | $89,901,077 | 0.38% | |
| CNQ |
CANADIAN NATURAL RESOURCES Ltd
Energy
|
Added | 1,844,681 | $89,891,305 | 0.38% | |
| GS |
Goldman Sachs Group Inc
Financial Services
|
Reduced | 105,404 | $89,170,729 | 0.37% | |
| TD |
Toronto Dominion Bank
Financial Services
|
Reduced | 952,292 | $88,858,366 | 0.37% | |
| WFC |
Wells Fargo & Company/Mn
Financial Services
|
Reduced | 1,107,968 | $88,205,332 | 0.37% | |
| GEV |
GE Vernova Inc.
Industrials
|
Added | 96,460 | $84,199,934 | 0.35% | |
| ORCL |
Oracle Corp
Technology
|
Added | 565,541 | $83,196,736 | 0.35% | |
| PEP |
Pepsico Inc
Consumer Defensive
|
Added | 505,793 | $78,544,594 | 0.33% | |
| MCD |
Mcdonalds Corp
Consumer Cyclical
|
Added | 250,160 | $77,747,226 | 0.32% | |
| CP |
Canadian Pacific Kansas City Ltd/Cn
Industrials
|
Added | 987,588 | $77,683,672 | 0.32% |