State of Tennessee, Department of Treasury Q4 2025 Filing

Filed February 18, 2026

Portfolio Value

$31.3B

Holdings

1,727

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (1,727 positions)

#	Stock	Shares	Value	% Portfolio
1	NVDANVIDIA CORPORATION COM	8,416,478	$1.6B	5.14%
2	AAPLAPPLE INC COM	5,119,921	$1.3B	4.25%
3	MSFTMICROSOFT CORP COM	2,592,119	$1.1B	3.57%
4	EWTISHARES INC MSCI TAIWAN ETF	12,525,798	$852.0M	2.72%
5	EWYISHARES INC MSCI STH KOR ETF	6,830,675	$836.0M	2.67%
6	AMZNAMAZON COM INC COM	3,324,166	$795.0M	2.54%
7	GOOGLALPHABET INC CAP STK CL A	1,981,613	$669.0M	2.14%
8	INDAISHARES TR MSCI INDIA ETF	10,925,403	$565.0M	1.81%
9	GOOGALPHABET INC CAP STK CL C	1,644,985	$556.0M	1.78%
10	AVGOBROADCOM INC COM	1,630,746	$540.0M	1.73%
11	METAMETA PLATFORMS INC CL A	751,330	$538.0M	1.72%
12	VTIVANGUARD INDEX FDS TOTAL STK MKT	1,582,521	$538.0M	1.72%
13	TSLATESLA INC COM	960,005	$413.0M	1.32%
14	PLDPROLOGIS INC COM	2,373,939	$309.0M	0.99%
15	BRK/BBERKSHIRE HATHAWAY INC DEL CL B NEW	622,564	$299.0M	0.96%
16	JPMJPMORGAN CHASE & CO COM	978,881	$299.0M	0.96%
17	VEAVANGUARD TAX-MANAGED FDS VAN FTSE DEV MKT	4,321,161	$286.0M	0.91%
18	LLYELI LILLY & CO COM	267,279	$277.0M	0.89%
19	SRLNSSGA ACTIVE ETF TR STATE STREET BLA	6,289,986	$257.0M	0.82%
20	EWZISHARES INC MSCI BRAZIL ETF	6,928,103	$256.0M	0.82%
21	VCITVANGUARD SCOTTSDALE FDS INT-TERM CORP	2,914,914	$244.0M	0.78%
22	MBBISHARES TR MBS ETF	2,486,872	$237.0M	0.76%
23	TSMTAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS	718,960	$237.0M	0.76%
24	VCLTVANGUARD SCOTTSDALE FDS LG-TERM COR BD	3,112,025	$237.0M	0.76%
25	XOMEXXON MOBIL CORP COM	1,577,417	$223.0M	0.71%
26	VNQVANGUARD INDEX FDS REAL ESTATE ETF	2,273,759	$206.0M	0.66%
27	EZAISHARES INC MSCI STH AFR ETF	2,754,119	$201.0M	0.64%
28	FLINFRANKLIN TEMPLETON ETF TR FRANKLIN INDIA	5,213,024	$193.0M	0.62%
29	VVISA INC COM CL A	586,473	$188.0M	0.60%
30	JNJJOHNSON & JOHNSON COM	821,632	$186.0M	0.59%
31	WMTWALMART INC COM	1,507,396	$179.0M	0.57%
32	VOOVANGUARD INDEX FDS S&P 500 ETF SHS	277,910	$176.0M	0.56%
33	MAMASTERCARD INCORPORATED CL A	289,663	$156.0M	0.50%
34	MUMICRON TECHNOLOGY INC COM	366,502	$152.0M	0.49%
35	COSTCOSTCO WHSL CORP NEW COM	149,272	$140.0M	0.45%
36	ABBVABBVIE INC COM	619,322	$138.0M	0.44%
37	LINLINDE PLC SHS	297,963	$136.0M	0.43%
38	RYROYAL BK CDA COM	802,436	$134.0M	0.43%
39	AMDADVANCED MICRO DEVICES INC COM	560,601	$132.0M	0.42%
40	HDHOME DEPOT INC COM	347,763	$130.0M	0.42%
41	NFLXNETFLIX INC COM	1,474,868	$123.0M	0.39%
42	BACBANK AMERICA CORP COM	2,311,932	$122.0M	0.39%
43	CVXCHEVRON CORP NEW COM	665,738	$117.0M	0.37%
44	PGPROCTER AND GAMBLE CO COM	769,696	$116.0M	0.37%
45	SHOPSHOPIFY INC CL A SUB VTG SHS	863,216	$113.0M	0.36%
46	GEGE AEROSPACE COM NEW	368,181	$112.0M	0.36%
47	CATCATERPILLAR INC COM	165,794	$108.0M	0.35%
48	CSCOCISCO SYS INC COM	1,367,451	$107.0M	0.34%
49	PLTRPALANTIR TECHNOLOGIES INC CL A	729,867	$106.0M	0.34%
50	WFCWELLS FARGO CO NEW COM	1,160,064	$104.0M	0.33%
51	MRKMERCK & CO INC COM	939,521	$103.0M	0.33%
52	GSGOLDMAN SACHS GROUP INC COM	110,029	$102.0M	0.33%
53	4I1PHILIP MORRIS INTL INC COM	561,754	$100.0M	0.32%
54	KOCOCA COLA CO COM	1,315,403	$98.0M	0.31%
55	HYGISHARES TR IBOXX HI YD ETF	1,198,867	$97.0M	0.31%
56	RTXRTX CORPORATION COM	481,915	$96.0M	0.31%
57	AMATAPPLIED MATLS INC COM	299,164	$96.0M	0.31%
58	IBMINTERNATIONAL BUSINESS MACHS COM	302,201	$92.0M	0.29%
59	ORCLORACLE CORP COM	559,534	$92.0M	0.29%
60	SPGIS&P GLOBAL INC COM	172,187	$90.0M	0.29%
61	TDTORONTO DOMINION BK ONT COM NEW	958,040	$90.0M	0.29%
62	UNHUNITEDHEALTH GROUP INC COM	309,011	$88.0M	0.28%
63	LRCXLAM RESEARCH CORP COM NEW	376,865	$87.0M	0.28%
64	UBSUBS GROUP AG SHS	1,841,257	$87.0M	0.28%
65	SESEA LTD SPONSORD ADS	718,949	$83.0M	0.27%
66	DWDMORGAN STANLEY COM NEW	431,847	$78.0M	0.25%
67	INTCINTEL CORP COM	1,694,188	$78.0M	0.25%
68	CRMSALESFORCE INC COM	363,903	$77.0M	0.25%
69	MCDMCDONALDS CORP COM	246,443	$77.0M	0.25%
70	PEPPEPSICO INC COM	495,514	$76.0M	0.24%
71	TXNTEXAS INSTRS INC COM	350,240	$75.0M	0.24%
72	TMOTHERMO FISHER SCIENTIFIC INC COM	129,644	$75.0M	0.24%
73	TRVCCITIGROUP INC COM NEW	631,632	$73.0M	0.23%
74	BABOEING CO COM	311,889	$72.0M	0.23%
75	ABTABBOTT LABS COM	648,929	$70.0M	0.22%
76	AVBAVALONBAY CMNTYS INC COM	398,173	$70.0M	0.22%
77	DISDISNEY WALT CO COM	625,194	$70.0M	0.22%
78	CPCANADIAN PACIFIC KANSAS CITY COM	935,393	$69.0M	0.22%
79	GILDGILEAD SCIENCES INC COM	488,599	$69.0M	0.22%
80	ACNACCENTURE PLC IRELAND SHS CLASS A	260,109	$68.0M	0.22%
81	AXPAMERICAN EXPRESS CO COM	195,460	$68.0M	0.22%
82	TAT&T INC COM	2,567,444	$67.0M	0.21%
83	GEVGE VERNOVA INC COM	93,576	$67.0M	0.21%
84	CRCCANADIAN NAT RES LTD COM	1,771,015	$66.0M	0.21%
85	UBERUBER TECHNOLOGIES INC COM	825,880	$66.0M	0.21%
86	NEENEXTERA ENERGY INC COM	756,917	$66.0M	0.21%
87	KLACKLA CORP COM NEW	46,649	$66.0M	0.21%
88	EQREQUITY RESIDENTIAL SH BEN INT	1,058,213	$65.0M	0.21%
89	FALNISHARES TR FALN ANGLS USD	2,328,300	$64.0M	0.20%
90	EWMISHARES INC MSCI MLY ETF NEW	2,193,944	$64.0M	0.20%
91	SCHWSCHWAB CHARLES CORP COM	615,980	$64.0M	0.20%
92	BACVERIZON COMMUNICATIONS INC COM	1,432,194	$63.0M	0.20%
93	ENBENBRIDGE INC COM	1,228,082	$60.0M	0.19%
94	APHAMPHENOL CORP NEW CL A	418,854	$60.0M	0.19%
95	ASMLASML HOLDING N V N Y REGISTRY SHS	42,600	$60.0M	0.19%
96	TJXTJX COS INC NEW COM	401,621	$60.0M	0.19%
97	AMGNAMGEN INC COM	173,489	$59.0M	0.19%
98	SPOTSPOTIFY TECHNOLOGY S A SHS	118,956	$59.0M	0.19%
99	ADIANALOG DEVICES INC COM	183,233	$56.0M	0.18%
100	EPOLISHARES TR MSCI POLAND ETF	1,495,603	$56.0M	0.18%

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