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Treasurer of the State of North Carolina Portfolio holdings
AUM
$38.8B
1-Year Est. Return
40.77%
This Fund
S&P 500
This Quarter
Est. Return
+25%
1 Year Est. Return
+40.77%
3 Year Est. Return
+128.4%
5 Year Est. Return
+169.12%
10 Year Est. Return
–
AUM
$38.8B
AUM Growth
+$7.02B
(+22%)
Cap. Flow
+$2.14B
Cap. Flow
% of AUM
5.5%
Top 10 Holdings %
Top 10 Hldgs %
32.04%
Holding
1,140
New
134
Increased
405
Reduced
549
Closed
44
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Invesco Variable Rate Preferred ETF
VRP
|
+$350M |
| 2 |
VanEck Preferred Securities ex Financials ETF
PFXF
|
+$172M |
| 3 |
Global X MLP & Energy Infrastructure ETF
MLPX
|
+$157M |
| 4 |
iShares US Infrastructure ETF
IFRA
|
+$154M |
| 5 |
POWR
iShares U.S. Power Infrastructure ETF
POWR
|
+$102M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Micron Technology
MU
|
+$61.1M |
| 2 |
Lam Research
LRCX
|
+$44.7M |
| 3 |
Mastercard
MA
|
+$44.5M |
| 4 |
NVIDIA
NVDA
|
+$39.4M |
| 5 |
CME Group
CME
|
+$38.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 33.52% |
| 2 | Financials | 10.55% |
| 3 | Industrials | 9.12% |
| 4 | Consumer Discretionary | 8.72% |
| 5 | Miscellaneous | 8.45% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
NVIDIA
NVDA
$5.43T
| $2.16B | 5.57% |
10,803,573
-191,567
| -2% | -$39.4M |
|
2
Apple
AAPL
$4.98T
| $1.96B | 5.05% |
6,775,147
-5,977
| -0.1% | -$1.71M |
|
3
iShares Russell 2000 ETF
IWM
$77.3B
| $1.78B | 4.59% |
5,928,226
+14,970
| +0.3% | +$4.21M |
|
4
Microsoft
MSFT
$3.83T
| $1.36B | 3.51% |
3,656,121
+124,276
| +4% | +$50.3M |
|
5
Amazon
AMZN
$2.69T
| $1.16B | 2.98% |
4,847,545
+36,132
| +0.8% | +$9.07M |
|
6
Alphabet (Google) Class A
GOOGL
$4.21T
| $992M | 2.56% |
2,775,443
-30,320
| -1% | -$10.9M |
|
7
Broadcom
AVGO
$1.68T
| $904M | 2.33% |
2,392,600
-1,410
| -0.1% | -$565K |
|
|
8
Alphabet (Google) Class C
GOOG
$4.17T
| $790M | 2.03% |
2,234,573
-25,503
| -1% | -$9.11M |
|
|
9
Micron Technology
MU
$1.22T
| $675M | 1.74% |
584,404
-81,525
| -12% | -$61.1M |
|
10
Meta Platforms (Facebook)
META
$1.91T
| $654M | 1.69% |
1,161,273
+14,541
| +1% | +$8.89M |
|
11
Tesla
TSLA
$1.47T
| $611M | 1.57% |
1,452,800
+36,360
| +3% | +$14.5M |
|
12
Eli Lilly
LLY
$1.05T
| $472M | 1.22% |
393,599
-5,160
| -1% | -$5.27M |
|
13
Advanced Micro Devices
AMD
$1.03T
| $402M | 1.04% |
692,875
+3,400
| +0.5% | +$1.39M |
|
14
Berkshire Hathaway Class B
BRK.B
$1.08T
| $397M | 1.02% |
793,258
+3,610
| +0.5% | +$1.74M |
|
15
JPMorgan Chase
JPM
$912B
| $373M | 0.96% |
1,138,956
-24,100
| -2% | -$7.48M |
|
16
Johnson & Johnson
JNJ
$654B
| $366M | 0.94% |
1,442,314
-350
| -0% | -$81.6K |
|
|
17
Invesco Variable Rate Preferred ETF
VRP
$2.97B
| $350M | 0.9% |
+14,378,855
| New | +$350M |
|
|
18
Lam Research
LRCX
$394B
| $338M | 0.87% |
780,871
-147,380
| -16% | -$44.7M |
|
19
Applied Materials
AMAT
$385B
| $331M | 0.85% |
458,159
-48,540
| -10% | -$22.4M |
|
20
Cisco
CSCO
$421B
| $317M | 0.82% |
2,695,652
-12,520
| -0.5% | -$1.31M |
|
21
Intel
INTC
$650B
| $313M | 0.81% |
2,244,943
-44,650
| -2% | -$4.52M |
|
22
Visa
V
$690B
| $305M | 0.78% |
887,627
-91,520
| -9% | -$29.4M |
|
23
KLA
KLAC
$245B
| $274M | 0.71% |
909,230
-186,100
| -17% | -$36.9M |
|
24
ExxonMobil
XOM
$660B
| $242M | 0.62% |
1,772,742
-36,020
| -2% | -$5.39M |
|
25
Procter & Gamble
PG
$340B
| $241M | 0.62% |
1,641,626
-6,820
| -0.4% | -$993K |
|
Similar funds
Treasurer of the State of North Carolina's Q2 2026 Portfolio in Review
As of Q2 2026, Treasurer of the State of North Carolina held 1,140 positions worth $38.8B, up 22% from $31.8B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
Treasurer of the State of North Carolina deployed $2.14B of net new capital in Q2 2026, opening 134 new positions and adding to 405 existing holdings. Its largest new stake was Invesco Variable Rate Preferred ETF: 14,378,855 shares worth $350M.
By sector, the portfolio is most concentrated in Technology at 34% of assets, up from 31% a quarter earlier, followed by Financials and Industrials.
On the sell side, the largest reduction was Micron Technology, an estimated $61.1M trimmed.
- Treasurer of the State of North Carolina's largest Q2 2026 buy was Invesco Variable Rate Preferred ETF: 14,378,855 shares worth $350M.
- Treasurer of the State of North Carolina added most to Ameren in Q2 2026, an estimated $51M increase.
- Treasurer of the State of North Carolina's biggest Q2 2026 reduction was Micron Technology, cutting an estimated $61.1M.
- Treasurer of the State of North Carolina fully exited Coterra Energy in Q2 2026, selling an estimated $16.3M.
- Treasurer of the State of North Carolina's ten largest holdings make up 32% of its $38.8B portfolio in Q2 2026.
- Treasurer of the State of North Carolina opened 134 new positions and closed 44 in Q2 2026.
- Treasurer of the State of North Carolina's portfolio value rose 22% quarter-over-quarter to $38.8B.
Based on Treasurer of the State of North Carolina's 13F filing for Q2 2026, filed 14 Aug 2026.