State of Tennessee, Department of Treasury
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), State of Tennessee, Department of Treasury reported 1,721 stock positions worth $29.8 billion. Its top holding was Nvidia (NVDA) at 4.9% of the portfolio, followed by Apple (AAPL, 4.4%) and Microsoft (MSFT, 3.2%). Compared with Q4 2025, it opened 53 new positions, sold out of 59, added to 494 and reduced 414. The biggest buy was Taiwan Semiconductor-SP ADR (TSM, shares +48%) and the biggest sale iShares MSCI Taiwan ETF (EWT, shares −23%).
- Most Recent 13F
- Q2 2026
- Location
- NASHVILLE, TN
- CIK
- 0001587973
- Portfolio Value
- $29.8B (Q1 2026)
- SEC Filing
- 0001587973-26-000002 ↗ filed May 15, 2026
Holdings Value
Holdings 1,721 stocks · $29.8B
| NVDA Nvidia Corp. | 4.94% | 8,419,829 | $1.5B | Add +0.0% |
| AAPL Apple Inc. | 4.35% | 5,105,030 | $1.3B | Reduce -0.3% |
| MSFT Microsoft Corp. | 3.21% | 2,582,031 | $955.8M | Reduce -0.4% |
| EWY iShares MSCI South Korea ETF | 2.56% | 6,199,718 | $762.6M | Reduce -9.2% |
| AMZN Amazon.com Inc. | 2.36% | 3,373,797 | $702.7M | Add +1.5% |
| EWT iShares MSCI Taiwan ETF | 2.29% | 9,604,842 | $681.2M | Reduce -23.3% |
| GOOGL Alphabet Inc. Class A | 1.91% | 1,981,131 | $569.7M | Reduce -0.0% |
| VTI VG Morningstar TS MKT ETF-US | 1.77% | 1,639,763 | $526.1M | Add +3.6% |
| AVGO Broadcom Inc. | 1.70% | 1,634,512 | $505.9M | Add +0.2% |
| GOOG Alphabet Inc. Class C | 1.59% | 1,649,828 | $473.3M | Add +0.3% |
| META Meta Platforms Inc. Class A | 1.45% | 752,330 | $430.4M | Add +0.1% |
| INDA iShares MSCI India ETF | 1.39% | 8,840,761 | $414.1M | Reduce -19.1% |
| TSM Taiwan Semiconductor-SP ADR | 1.21% | 1,066,212 | $360.3M | Add +48.3% |
| TSLA Tesla Inc. | 1.20% | 961,005 | $357.3M | Add +0.1% |
| PLD Prologis Inc. | 1.15% | 2,583,012 | $341.4M | Add +8.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.01% | 627,873 | $300.9M | Add +0.8% |
| JPM JPMorgan Chase & Co. | 0.97% | 978,763 | $287.9M | Reduce -0.0% |
| VEA Vanguard Ftse Developed ETF | 0.91% | 4,222,808 | $270.6M | Reduce -2.3% |
| XOM Exxon Mobil Corp. | 0.83% | 1,455,134 | $246.9M | Reduce -7.8% |
| LLY Eli Lilly & Co. | 0.83% | 268,388 | $246.9M | Add +0.4% |
| VCIT Vanguard Int-Term Corporate | 0.81% | 2,923,588 | $241.9M | Add +0.3% |
| SRLN SS Blackstone Sr Loan ETF | 0.80% | 5,941,320 | $238.5M | Reduce -5.5% |
| VCLT Vanguard Long-Term Corp. Bond | 0.79% | 3,152,697 | $235.6M | Add +1.3% |
| MBB iShares MBS ETF | 0.79% | 2,478,109 | $235.3M | Reduce -0.3% |
| EWZ iShares MSCI Brazil ETF | 0.77% | 5,932,713 | $227.8M | Reduce -14.4% |
| JNJ Johnson & Johnson | 0.73% | 893,163 | $218.3M | Add +8.7% |
| VNQ Vanguard Real Estate ETF | 0.67% | 2,234,023 | $198.2M | Reduce -1.8% |
| WMT Walmart Inc. | 0.63% | 1,505,267 | $187.1M | Reduce -0.1% |
| EZA iShares MSCI South Africa Et | 0.63% | 2,754,119 | $186.7M | No change |
| V Visa Inc. Class A | 0.63% | 616,473 | $186.3M | Add +5.1% |
| FLIN Franklin Ftse India ETF | 0.58% | 5,213,024 | $173.2M | No change |
| VOO Vanguard S&P 500 ETF | 0.56% | 277,910 | $166.1M | No change |
| COST Costco Wholesale Corp. | 0.50% | 149,093 | $148.6M | Reduce -0.1% |
| MA Mastercard Inc. Class A | 0.48% | 287,108 | $143.5M | Reduce -0.9% |
| NFLX Netflix Inc. | 0.48% | 1,486,053 | $142.9M | Add +0.8% |
| ABBV Abbvie Inc. | 0.47% | 640,722 | $139.4M | Add +3.5% |
| CVX Chevron Corp. | 0.46% | 659,941 | $136.5M | Reduce -0.9% |
| MU Micron Technology Inc. | 0.44% | 391,334 | $132.2M | Add +6.8% |
| RY Royal Bank of Canada | 0.43% | 798,095 | $128.6M | Reduce -0.5% |
| HD Home Depot Inc. | 0.40% | 360,906 | $118.7M | Add +3.8% |
| CAT Caterpillar Inc. | 0.39% | 165,199 | $117.0M | Reduce -0.4% |
| MRK Merck & Co. Inc. | 0.39% | 964,590 | $116.0M | Add +2.7% |
| AMD Advanced Micro Devices | 0.39% | 564,752 | $114.9M | Add +0.7% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.38% | 2,309,563 | $112.6M | Reduce -0.1% |
| PG The Procter & Gamble Co. | 0.37% | 769,696 | $111.2M | No change |
| PLTR Palantir Technologies Inc. Class A | 0.36% | 733,241 | $107.3M | Add +0.5% |
| CSCO Cisco Systems Inc. | 0.36% | 1,380,448 | $107.1M | Add +0.9% |
| AMAT Applied Materials Inc. | 0.35% | 307,351 | $105.0M | Add +2.7% |
| LIN Linde PLC | 0.35% | 211,382 | $104.8M | Reduce -29.1% |
| SHOP Shopify Inc. Class A | 0.35% | 884,154 | $104.6M | Add +2.4% |
| GE General Electric filed as GE AEROSPACE | 0.35% | 366,796 | $104.1M | Reduce -0.4% |
| KO The Coca-Cola Co. | 0.33% | 1,295,019 | $98.5M | Reduce -1.6% |
| UNH Unitedhealth Group Inc. | 0.32% | 357,148 | $96.6M | Add +15.6% |
| PM Philip Morris International | 0.32% | 571,410 | $94.5M | Add +1.7% |
| RTX RTX Corp. | 0.31% | 483,369 | $93.2M | Add +0.3% |
| LRCX Lam Research Corp. | 0.30% | 420,767 | $89.9M | Add +11.7% |
| CNQ Canadian Natural Resources | 0.30% | 1,844,681 | $89.7M | Add +4.2% |
| GS Goldman Sachs Group Inc. | 0.30% | 105,404 | $89.2M | Reduce -4.2% |
| TD Toronto-Dominion Bank | 0.30% | 952,292 | $88.7M | Reduce -0.6% |
| WFC Wells Fargo & Co. | 0.30% | 1,107,968 | $88.2M | Reduce -4.5% |
| GEV GE Vernova Inc. | 0.28% | 96,460 | $84.2M | Add +3.1% |
| ORCL Oracle Corp. | 0.28% | 565,541 | $83.2M | Add +1.1% |
| PEP Pepsico Inc. | 0.26% | 505,793 | $78.5M | Add +2.1% |
| MCD McDonald's Corp. | 0.26% | 250,160 | $77.7M | Add +1.5% |
| CP Canadian Pacific Kansas City | 0.26% | 987,588 | $77.6M | Add +5.6% |
| INTC Intel Corp. | 0.26% | 1,744,911 | $77.0M | Add +3.0% |
| AVB Avalonbay Communities Inc. | 0.25% | 461,672 | $75.4M | Add +15.9% |
| UBS UBS Group AG-Reg | 0.25% | 1,936,941 | $74.1M | Add +5.2% |
| VZ Verizon Communications Inc. | 0.25% | 1,464,900 | $73.5M | Add +2.3% |
| SPGI S&P Global Inc. | 0.25% | 172,328 | $73.3M | Add +0.1% |
| ABT Abbott Laboratories | 0.24% | 708,125 | $72.7M | Add +9.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.24% | 298,201 | $72.3M | Reduce -1.3% |
| T AT&T Inc. | 0.24% | 2,477,716 | $71.8M | Reduce -3.5% |
| C Citigroup Inc. | 0.24% | 631,632 | $71.6M | No change |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.24% | 894,037 | $71.1M | Reduce -25.4% |
| VMRK Vivmark Residential filed as EQUITY RESIDENTIAL | 0.24% | 1,194,152 | $70.6M | Add +12.8% |
| NEE Nextera Energy Inc. | 0.24% | 757,991 | $70.4M | Add +0.1% |
| MS Morgan Stanley | 0.23% | 417,561 | $68.7M | Reduce -3.3% |
| TMO Thermo Fisher Scientific Inc. | 0.23% | 138,004 | $67.8M | Add +6.5% |
| KLAC KLA Corp. | 0.22% | 45,425 | $66.9M | Reduce -2.6% |
| ENB Enbridge Inc. | 0.22% | 1,228,082 | $66.4M | No change |
| TXN Texas Instruments Inc. | 0.22% | 341,437 | $66.3M | Reduce -2.5% |
| GILD Gilead Sciences Inc. | 0.22% | 471,770 | $65.8M | Reduce -3.4% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.22% | 408,584 | $65.3M | Add +1.7% |
| AMGN Amgen Inc. | 0.22% | 184,956 | $65.1M | Add +6.6% |
| SE Sea Ltd.-ADR | 0.21% | 747,141 | $61.9M | Add +3.9% |
| CRM Salesforce Inc. | 0.20% | 322,527 | $60.2M | Reduce -11.4% |
| COP Conocophillips | 0.20% | 452,152 | $59.7M | Add +0.4% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.20% | 614,149 | $59.2M | Reduce -1.8% |
| AXP American Express Co. | 0.20% | 193,644 | $58.6M | Reduce -0.9% |
| ADI Analog Devices Inc. | 0.20% | 183,233 | $58.3M | No change |
| AEM Agnico Eagle Mines Ltd. | 0.20% | 286,846 | $58.0M | No change |
| BA The Boeing Co. | 0.19% | 288,789 | $57.5M | Reduce -7.4% |
| ISRG Intuitive Surgical Inc. | 0.19% | 124,228 | $57.3M | Add +13.9% |
| CNI Canadian Natl Railway Co. | 0.19% | 554,927 | $57.0M | Add +3.2% |
| ASML ASML Holding NV-NY Reg SHS filed as ASML HLDG NV | 0.19% | 41,967 | $55.4M | Reduce -1.5% |
| UBER Uber Technologies Inc. | 0.19% | 766,864 | $55.2M | Reduce -7.2% |
| SCHW Schwab (charles) Corp. | 0.19% | 586,908 | $55.2M | Reduce -4.7% |
| ESS Essex Property Trust Inc. | 0.18% | 225,901 | $54.7M | Add +11.6% |
| BMO Bank of Montreal filed as BANK MONTREAL MEDIUM | 0.18% | 402,401 | $54.3M | Add +0.7% |
Portfolio Sells Q4 2025 → Q1 2026
| EWT iShares MSCI Taiwan ETF | Reduce -23.3% | 2.29% | −0.44 |
| INDA iShares MSCI India ETF | Reduce -19.1% | 1.39% | −0.42 |
| MSFT Microsoft Corp. | Reduce -0.4% | 3.21% | −0.35 |
| GOOGL Alphabet Inc. Class A | Reduce -0.0% | 1.91% | −0.23 |
| FALN iShares Fallen Angels ETF | Reduce -60.2% | 0.08% | −0.12 |
| EWY iShares MSCI South Korea ETF | Reduce -9.2% | 2.56% | −0.11 |
| LIN Linde PLC | Reduce -29.1% | 0.35% | −0.08 |
| SPOT Spotify Technology SA | Reduce -39.1% | 0.12% | −0.07 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Reduce -25.4% | 0.24% | −0.07 |
| RACE Ferrari NV | Reduce -55.8% | 0.06% | −0.07 |
| JNK SS SPDR BB High Yield Bond | Reduce -99.8% | 0.00% | −0.07 |
| TSEM Tower Semiconductor Ltd. | Reduce -82.9% | 0.02% | −0.06 |
| ELV Elevance Health Inc. | Reduce -49.8% | 0.05% | −0.06 |
| EWZ iShares MSCI Brazil ETF | Reduce -14.4% | 0.77% | −0.06 |
| ACN Accenture PLC Class A | Reduce -4.3% | 0.17% | −0.05 |
| IBM Intl Business Machines Corp. | Reduce -1.3% | 0.24% | −0.05 |
| CRM Salesforce Inc. | Reduce -11.4% | 0.20% | −0.04 |
| DXCM Dexcom Inc. | Reduce -66.7% | 0.02% | −0.04 |
| EIDO iShares MSCI Indonesia ETF | Reduce -17.8% | 0.14% | −0.04 |
| MOH Molina Healthcare Inc. | Reduce -85.8% | 0.01% | −0.04 |
| BA The Boeing Co. | Reduce -7.4% | 0.19% | −0.04 |
| WFC Wells Fargo & Co. | Reduce -4.5% | 0.30% | −0.04 |
| VTRS Viatris Inc. | Reduce -79.9% | 0.01% | −0.04 |
| SOLV Solventum Corp. | Reduce -81.2% | 0.01% | −0.03 |
| MNST Monster Beverage Corp. | Reduce -29.6% | 0.06% | −0.03 |
| LDOS Leidos Holdings Inc. | Reduce -42.3% | 0.03% | −0.03 |
| HUM Humana Inc. | Reduce -65.9% | 0.01% | −0.03 |
| BKNG Booking Holdings Inc. | Reduce -6.5% | 0.15% | −0.03 |
| APP AppLovin Corp. Class A | Reduce -10.4% | 0.11% | −0.03 |
| GS Goldman Sachs Group Inc. | Reduce -4.2% | 0.30% | −0.03 |
| CBRE CBRE Group Inc. Class A | Reduce -27.6% | 0.04% | −0.03 |
| IQV Iqvia Holdings Inc. | Reduce -24.2% | 0.04% | −0.03 |
| MNDY Monday.com Ltd. | Sold out | 0.00% | −0.03 |
| DIS The Walt Disney Co. | Reduce -1.8% | 0.20% | −0.03 |
| PODD Insulet Corp. | Reduce -71.5% | 0.01% | −0.03 |
| XYL Xylem Inc. | Reduce -36.5% | 0.04% | −0.03 |
| UBER Uber Technologies Inc. | Reduce -7.2% | 0.19% | −0.03 |
| AMP Ameriprise Financial Inc. | Reduce -27.5% | 0.05% | −0.03 |
| OKE Oneok Inc. | Reduce -50.1% | 0.04% | −0.03 |
| GD General Dynamics Corp. | Reduce -21.9% | 0.10% | −0.03 |
| GREK Global X MSCI Greece ETF | Reduce -18.1% | 0.07% | −0.03 |
| ECH iShares MSCI Chile ETF | Reduce -17.4% | 0.08% | −0.02 |
| EWM iShares MSCI Malaysia ETF | Reduce -13.7% | 0.18% | −0.02 |
| AXP American Express Co. | Reduce -0.9% | 0.20% | −0.02 |
| IVZ Invesco Ltd. | Reduce -55.3% | 0.02% | −0.02 |
| QCOM Qualcomm Inc. | Reduce -3.3% | 0.14% | −0.02 |
| SRLN SS Blackstone Sr Loan ETF | Reduce -5.5% | 0.80% | −0.02 |
| COO The Cooper Cos Inc. | Reduce -65.7% | 0.01% | −0.02 |
| MS Morgan Stanley | Reduce -3.3% | 0.23% | −0.02 |
| NKE Nike Inc. Class B | Reduce -13.6% | 0.07% | −0.02 |
Portfolio Buys Q4 2025 → Q1 2026
| TSM Taiwan Semiconductor-SP ADR | Add +48.3% | 1.21% | +0.45 |
| AZN Astrazeneca PLC | New | 0.17% | +0.17 |
| SHYG iShares 0-5 YR HY Corp. Bond | New | 0.17% | +0.17 |
| PLD Prologis Inc. | Add +8.8% | 1.15% | +0.16 |
| JNJ Johnson & Johnson | Add +8.7% | 0.73% | +0.14 |
| JAAA Janus Henderson Aaa Clo ETF | Add +693.0% | 0.13% | +0.12 |
| BKLN Invesco Senior Loan ETF | New | 0.09% | +0.09 |
| CNQ Canadian Natural Resources | Add +4.2% | 0.30% | +0.09 |
| NFLX Netflix Inc. | Add +0.8% | 0.48% | +0.09 |
| VRT Vertiv Holdings Co. Class A | Add +160.6% | 0.11% | +0.08 |
| JPST JPMorgan Ultra-Short Income | Add +236.8% | 0.11% | +0.08 |
| GEV GE Vernova Inc. | Add +3.1% | 0.28% | +0.07 |
| MRK Merck & Co. Inc. | Add +2.7% | 0.39% | +0.06 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +0.8% | 1.01% | +0.05 |
| EOG EOG Resources Inc. | Add +22.9% | 0.13% | +0.05 |
| COP Conocophillips | Add +0.4% | 0.20% | +0.05 |
| ALC Alcon Inc. | Add +46.8% | 0.17% | +0.05 |
| XLK SS Technology Select Sector | New | 0.05% | +0.05 |
| AMAT Applied Materials Inc. | Add +2.7% | 0.35% | +0.04 |
| VTI VG Morningstar TS MKT ETF-US | Add +3.6% | 1.77% | +0.04 |
| SU Suncor Energy Inc. | Add +2.3% | 0.18% | +0.04 |
| VZ Verizon Communications Inc. | Add +2.3% | 0.25% | +0.04 |
| SUNB Sunbelt Rentals Holdings Inc. | New | 0.04% | +0.04 |
| UNH Unitedhealth Group Inc. | Add +15.6% | 0.32% | +0.04 |
| MPC Marathon Petroleum Corp. | Add +46.7% | 0.08% | +0.04 |
| GLW Corning Inc. | Add +4.2% | 0.13% | +0.04 |
| TTE Totalenergies SE | Add +4.6% | 0.13% | +0.04 |
| CP Canadian Pacific Kansas City | Add +5.6% | 0.26% | +0.04 |
| TGT Target Corp. | Add +54.8% | 0.08% | +0.04 |
| PSX Phillips 66 | Add +47.2% | 0.08% | +0.04 |
| MSI Motorola Solutions Inc. | Add +60.8% | 0.08% | +0.04 |
| FANG Diamondback Energy Inc. | Add +72.0% | 0.07% | +0.04 |
| XLF SS Financial Select Sector | New | 0.04% | +0.04 |
| CVS CVS Health Corp. | Add +28.8% | 0.14% | +0.03 |
| VCLT Vanguard Long-Term Corp. Bond | Add +1.3% | 0.79% | +0.03 |
| TRGP Targa Resources Corp. | Add +28.0% | 0.08% | +0.03 |
| FDX FedEx Corp. | Add +24.1% | 0.10% | +0.03 |
| VCIT Vanguard Int-Term Corporate | Add +0.3% | 0.81% | +0.03 |
| AMGN Amgen Inc. | Add +6.6% | 0.22% | +0.03 |
| HCA HCA Healthcare Inc. | Add +44.1% | 0.09% | +0.03 |
| PCG P G & E Corp. | Add +66.4% | 0.06% | +0.03 |
| MCK McKesson Corp. | Add +13.9% | 0.14% | +0.03 |
| VLO Valero Energy Corp. | Add +8.0% | 0.08% | +0.03 |
| AVB Avalonbay Communities Inc. | Add +15.9% | 0.25% | +0.03 |
| ODFL Old Dominion Freight Line | Add +190.6% | 0.04% | +0.03 |
| TJX TJX Companies Inc. | Add +1.7% | 0.22% | +0.03 |
| ABBV Abbvie Inc. | Add +3.5% | 0.47% | +0.03 |
| VMRK Vivmark Residential | Add +12.8% | 0.24% | +0.03 |
| GNRC Generac Holdings Inc. | Add +283.0% | 0.03% | +0.03 |
| DELL Dell Technologies -C | Add +19.4% | 0.06% | +0.03 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,721 | $33.7B | NVDA, AAPL, EWY, MSFT, EWT |
| Q1 2026 | 1,721 | $29.8B | NVDA, AAPL, MSFT, EWY, AMZN |
| Q4 2025 | 1,727 | $31.3B | NVDA, AAPL, MSFT, EWT, EWY |
| Q3 2025 | 1,727 | $30.0B | NVDA, MSFT, AAPL, EWT, AMZN |
| Q2 2025 | 1,722 | $28.0B | NVDA, MSFT, AAPL, EWT, INDA |
| Q1 2025 | 1,719 | $26.1B | AAPL, MSFT, NVDA, INDA, EWT |
| Q4 2024 | 1,737 | $27.6B | AAPL, NVDA, MSFT, EWT, AMZN |
| Q3 2024 | 1,716 | $28.4B | AAPL, MSFT, NVDA, EWT, VTI |
| Q2 2024 | 1,712 | $27.2B | MSFT, AAPL, NVDA, EWT, AMZN |
| Q1 2024 | 1,685 | $27.0B | MSFT, AAPL, NVDA, EWT, AMZN |