Q2 2026 13F · SEC CIK 1587973

State of Tennessee, Department of Treasury

Investment managerFiled 2026-08-14 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $33.7B
Reported positions: 1,721
Top holdings a year, 3 yrs: +24.2%
Average holding period: 10.2 yrs

State of Tennessee, Department of Treasury is an investment manager that reported 1,721 positions worth $33.7B in its Q2 2026 13F, filed 2026-08-14. Its largest holdings were Nvidia Corporation Com (NVDA, 5.0%), Apple Inc (AAPL, 4.4%), Ishares Inc (EWY, 3.2%). A portfolio copying its top holdings returned 24.2% a year over the last 3 years, against 20.4% for the S&P 500.

State of Tennessee, Department of Treasury holdings largest 50 of 1,721 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

State of Tennessee, Department of Treasury 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
NVDANvidia Corporation Com	5.0%	4.9%	8,391,486	-0.3%	$1.7B
AAPLApple Inc	4.4%	4.4%	5,078,446	-0.5%	$1.5B
EWYIshares Inc	3.2%	2.6%	5,259,477	-15.2%	$1.1B
MSFTMicrosoft Corp	2.9%	3.2%	2,574,513	-0.3%	$960.3M
EWTiShares MSCI Taiwan ETF	2.5%	2.3%	7,797,976	-18.8%	$846.9M
AMZNAmazon Com Inc Com	2.4%	2.4%	3,368,678	-0.2%	$802.9M
GOOGLAlphabet Inc	2.1%	1.9%	1,996,414	+0.8%	$713.5M
AVGOBroadcom Inc	1.8%	1.7%	1,633,240	-0.1%	$617.0M
GOOGAlphabet Inc	1.7%	1.6%	1,648,248	-0.1%	$582.4M
VTIVanguard Index Fds	1.7%	1.8%	1,514,680	-7.6%	$560.5M
TSMTaiwan Semiconductor Manufac	1.5%	1.2%	1,070,212	+0.4%	$511.1M
MUMicron Technology Inc	1.3%	0.4%	387,321	-1.0%	$447.1M
METAMeta Platforms Inc Class A	1.3%	1.4%	750,789	-0.2%	$422.9M
TSLATesla Inc Com	1.2%	1.2%	965,345	+0.5%	$406.0M
PLDPrologis Inc	1.0%	1.1%	2,584,668	+0.1%	$350.1M
INDAIshares Tr	1.0%	1.4%	6,945,050	-21.4%	$343.0M
LLYLilly Eli & Co	1.0%	0.8%	274,745	+2.4%	$329.5M
AMDAdvanced Micro Devices Inc	1.0%	0.4%	563,368	-0.2%	$327.3M
JPMJpmorgan Chase & Co	0.9%	1.0%	966,939	-1.2%	$316.5M
BRK-BBerkshire Hathaway Inc Del	0.9%	1.0%	617,646	-1.6%	$309.1M
VEAVanguard Tax-Managed Fds	0.8%	0.9%	3,979,237	-5.8%	$283.5M
VCITVanguard Scottsdale Fds	0.8%	0.8%	3,133,493	+7.2%	$259.0M
MBBIshares Tr	0.7%	0.8%	2,654,254	+7.1%	$250.9M
VCLTVanguard Scottsdale Fds	0.7%	0.8%	3,332,943	+5.7%	$250.8M
INTCIntel Corp	0.7%	—	1,598,559	—	$223.2M
JNJJohnson & Johnson	0.7%	0.7%	867,007	-2.9%	$220.2M
VVisa Inc Com Cl A	0.6%	0.6%	613,770	-0.4%	$210.6M
VNQVanguard Real Estate ETF	0.6%	0.7%	2,181,157	-2.4%	$210.3M
AMATApplied Matls Inc	0.6%	0.4%	284,484	-7.4%	$205.7M
XOMExxon Mobil Corp	0.6%	0.8%	1,458,177	+0.2%	$199.4M
LRCXLam Research Corp	0.6%	—	441,754	—	$191.4M
VOOVanguard S&p 500 ETF	0.6%	0.6%	277,910	+0.0%	$190.9M
FLINFranklin Ftse India ETF	0.6%	0.6%	5,232,424	+0.4%	$186.1M
SRLNSsga Active ETF Tr	0.5%	0.8%	4,414,977	-25.7%	$177.9M
EWZIshares Inc	0.5%	0.8%	5,133,240	-13.5%	$177.1M
CATCaterpillar Inc Com	0.5%	0.4%	161,321	-2.3%	$171.8M
WMTWalmart Inc	0.5%	0.6%	1,501,695	-0.2%	$170.1M
RYRoyal Bank of Canada	0.5%	0.4%	796,805	-0.2%	$164.9M
EZAIshares Msci South Africa Et	0.5%	0.6%	2,579,219	-6.4%	$163.0M
CSCOCisco Sys Inc	0.5%	0.4%	1,373,295	-0.5%	$161.3M
ABBVAbbvie Inc	0.5%	0.5%	629,148	-1.8%	$158.3M
BKLNInvesco Exch Traded Fd Tr II	0.4%	—	7,286,366	—	$148.4M
MAMastercard Inc.	0.4%	0.5%	282,934	-1.5%	$145.3M
COSTCostco Whsl Corp New	0.4%	0.5%	147,517	-1.1%	$138.0M
GEGe Aerospace	0.4%	—	364,357	—	$136.2M
KLACKla Corp	0.4%	—	451,194	—	$136.1M
BACBank of Amer Corp	0.4%	0.4%	2,285,494	-1.0%	$130.2M
HYGIshares Trust	0.4%	—	1,585,012	—	$126.8M
UNHUnitedhealth Group Inc Com	0.4%	—	302,176	—	$125.6M
HDHome Depot Inc Com	0.4%	0.4%	349,891	-3.1%	$123.4M

What State of Tennessee, Department of Treasury bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +26.7% /yr; S&P 500 +20.1%
3 years: +24.2% /yr; S&P 500 +20.4%
5 years: +12.5% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value and rebuilt each quarter on the day the filing became public. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$33.7B	1,721
Q1 2026	$29.8B	1,721
Q4 2025	$31.3B	1,727
Q3 2025	$30.0B	1,727
Q2 2025	$28.0B	1,722
Q1 2025	$26.1B	1,719
Q4 2024	$27.6B	1,737
Q3 2024	$28.4B	1,716
Q2 2024	$27.2B	1,712
Q1 2024	$27.0B	1,685
Q4 2023	$25.5B	1,657
Q3 2023	$24.8B	1,599

Questions about State of Tennessee, Department of Treasury's portfolio

What stocks does State of Tennessee, Department of Treasury own?

State of Tennessee, Department of Treasury's latest 13F, for Q2 2026 and filed Aug 14, 2026, lists 1,721 positions worth $33.7B. The largest are Nvidia Corporation Com (NVDA) at 5.0%, Apple Inc (AAPL) at 4.4%, Ishares Inc (EWY) at 3.2%, Microsoft Corp (MSFT) at 2.9% and iShares MSCI Taiwan ETF (EWT) at 2.5%.

What did State of Tennessee, Department of Treasury buy last quarter?

In Q2 2026, State of Tennessee, Department of Treasury added Vanguard Scottsdale Fds (VCIT) (+7.2% shares), Ishares Tr (MBB) (+7.1% shares) and Vanguard Scottsdale Fds (VCLT) (+5.7% shares), compared with its Q1 2026 filing.

What did State of Tennessee, Department of Treasury sell last quarter?

In Q2 2026, State of Tennessee, Department of Treasury cut from its top 50 Netflix Inc Total (NFLX), cut from its top 50 Chevron Corp New (CVX), cut from its top 50 Merck & Co. Inc (MRK), cut from its top 50 Procter & Gamble Co Com (PG), cut from its top 50 Palantir Technologies Inclass Class A (PLTR), Ssga Active ETF Tr (SRLN) (-25.7% shares), Ishares Tr (INDA) (-21.4% shares) and iShares MSCI Taiwan ETF (EWT) (-18.8% shares), compared with its Q1 2026 filing.

How has State of Tennessee, Department of Treasury's portfolio performed?

A portfolio copying State of Tennessee, Department of Treasury's 20 largest 13F holdings each quarter, from the day each filing was public, returned +24.2% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +26.7% against +20.1%. Over 5 years: +12.5% a year against +11.6%.

When is State of Tennessee, Department of Treasury's next 13F filing due?

13F filings are due 45 days after each quarter ends. State of Tennessee, Department of Treasury's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.