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 (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	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 Inc	2.5%	2.3%	7,797,976	-18.8%	$846.9M
AMZNAmazon Com Inc	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	1.3%	1.4%	750,789	-0.2%	$422.9M
TSLATesla Inc	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
LLYEli Lilly & 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 Ftse Developed Markets Index Fu	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 Long-Term Corporate Bond ETF	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	0.6%	0.6%	613,770	-0.4%	$210.6M
VNQVanguard Index Fds	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 Index Fds	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	0.5%	0.4%	161,321	-2.3%	$171.8M
WMTWalmart Inc	0.5%	0.6%	1,501,695	-0.2%	$170.1M
RYRoyal Bk Cda	0.5%	0.4%	796,805	-0.2%	$164.9M
EZAIshares Inc	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 Incorporated	0.4%	0.5%	282,934	-1.5%	$145.3M
COSTCostco Wholesale Corporation	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 Tr	0.4%	—	1,585,012	—	$126.8M
UNHUnitedhealth Group Inc	0.4%	—	302,176	—	$125.6M
HDHome Depot Inc	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.

Added to

VCIT Vanguard Scottsdale Fds+7.2% shares
MBB Ishares Tr+7.1% shares
VCLT Vanguard Long-Term Corporate Bond ETF+5.7% shares

Reduced

SRLN Ssga Active ETF Tr-25.7% shares
INDA Ishares Tr-21.4% shares
EWT Ishares Inc-18.8% shares
EWY Ishares Inc-15.2% shares
EWZ Ishares Inc-13.5% shares
VTI Vanguard Index Fds-7.6% shares
AMAT Applied Matls Inc-7.4% shares
EZA Ishares Inc-6.4% shares

Left the top 50

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, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 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 (NVDA) at 5.0%, Apple Inc (AAPL) at 4.4%, Ishares Inc (EWY) at 3.2%, Microsoft Corp (MSFT) at 2.9% and Ishares Inc (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 Long-Term Corporate Bond ETF (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. (NFLX), cut from its top 50 Chevron Corporation (CVX), cut from its top 50 Merck & Co Inc (MRK), cut from its top 50 Procter & Gamble Co (PG), cut from its top 50 Palantir Technologies Inc (PLTR), Ssga Active ETF Tr (SRLN) (-25.7% shares), Ishares Tr (INDA) (-21.4% shares) and Ishares Inc (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.