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Treasurer of the State of North Carolina

Treasurer of the State of North Carolina Portfolio holdings

AUM $31.8B
1-Year Est. Return 28.93%
This Fund
S&P 500
This Quarter Est. Return
+14.48%
1 Year Est. Return
+28.93%
3 Year Est. Return
+100.69%
5 Year Est. Return
+135.6%
10 Year Est. Return
–
AUM
$31.2B
AUM Growth
+$6.04B
Cap. Flow
+$3.08B
Cap. Flow %
9.88%
Top 10 Hldgs %
31.73%
Holding
1,045
New
38
Increased
790
Reduced
187
Closed
30

Top Buys

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$122M
2
AMZN icon
Amazon
AMZN
+$114M
3
IWM icon
iShares Russell 2000 ETF
IWM
+$112M
4
NVDA icon
NVIDIA
NVDA
+$99.1M
5
MSFT icon
Microsoft
MSFT
+$96.4M

Top Sells

Rank Stock Value
1
DFS
Discover Financial Services
DFS
+$26.9M
2
IVV icon
iShares Core S&P 500 ETF
IVV
+$17.9M
3
CAT icon
Caterpillar
CAT
+$9.7M
4
EMR icon
Emerson Electric
EMR
+$9.08M
5
AMAT icon
Applied Materials
AMAT
+$8.34M

Sector Composition

Rank Sector Weight
1 Technology 32.67%
2 Financials 13.63%
3 Consumer Discretionary 10.63%
4 Communication Services 9.62%
5 Healthcare 9.01%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LNG icon
226
Cheniere Energy
LNG
$55.6B
$25.1M 0.08%
103,040
+805
+0.8% +$186K
ALL icon
227
Allstate
ALL
$65.2B
$24.8M 0.08%
123,272
+3,051
+3% +$609K
CCL icon
228
Carnival Corporation Ltd
CCL
$38.7B
$24.3M 0.08%
864,479
+336,654
+64% +$7.2M
EBAY icon
229
eBay
EBAY
$46.1B
$24.3M 0.08%
325,678
+67,731
+26% +$4.8M
MPC icon
230
Marathon Petroleum
MPC
$98.8B
$24.2M 0.08%
145,569
-1,493
-1% -$224K
WDAY icon
231
Workday
WDAY
$43.5B
$24.1M 0.08%
100,513
+3,643
+4% +$887K
O icon
232
Realty Income
O
$59.8B
$24M 0.08%
417,202
+18,301
+5% +$1.03M
AFL icon
233
Aflac
AFL
$60.7B
$24M 0.08%
227,550
-25,171
-10% -$2.64M
OKE icon
234
Oneok
OKE
$58.7B
$23.8M 0.08%
291,907
+8,098
+3% +$675K
RGA icon
235
Reinsurance Group of America
RGA
$16.2B
$23.8M 0.08%
119,754
+58,412
+95% +$11.4M
VRSN icon
236
VeriSign
VRSN
$25.5B
$23.5M 0.08%
81,292
+40,833
+101% +$11.1M
FLUT icon
237
Flutter Entertainment
FLUT
$16.9B
$23.4M 0.08%
+81,840
New +$20.1M
DOX icon
238
Amdocs
DOX
$6.13B
$23.4M 0.07%
256,081
+172,759
+207% +$15.4M
RSG icon
239
Republic Services
RSG
$66B
$23.3M 0.07%
94,626
+688
+0.7% +$170K
AIG icon
240
American International
AIG
$39.7B
$23.3M 0.07%
272,626
-12,795
-4% -$1.07M
FDX icon
241
FedEx
FDX
$78.8B
$23.1M 0.07%
101,691
+266
+0.3% +$58.2K
SRE icon
242
Sempra
SRE
$56.3B
$23.1M 0.07%
304,928
+14,967
+5% +$1.11M
BDX icon
243
Becton Dickinson
BDX
$49.7B
$23M 0.07%
133,625
+1,283
+1% +$235K
WSM icon
244
Williams-Sonoma
WSM
$28.9B
$23M 0.07%
140,618
+54,835
+64% +$8.61M
PCAR icon
245
PACCAR
PCAR
$68.5B
$22.9M 0.07%
240,749
+5,327
+2% +$492K
VRT icon
246
Vertiv
VRT
$113B
$22.8M 0.07%
177,719
+13,884
+8% +$1.35M
FERG icon
247
Ferguson
FERG
$47.9B
$22.8M 0.07%
104,728
+8,097
+8% +$1.49M
IT icon
248
Gartner
IT
$11.1B
$22.7M 0.07%
56,270
+14,294
+34% +$5.98M
PSX icon
249
Phillips 66
PSX
$91.7B
$22.7M 0.07%
190,433
+1,499
+0.8% +$168K
D icon
250
Dominion Energy
D
$60.3B
$22.5M 0.07%
398,677
+15,108
+4% +$828K
8 9
10
11 12

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Treasurer of the State of North Carolina's Q2 2025 Portfolio in Review

As of Q2 2025, Treasurer of the State of North Carolina held 1,045 positions worth $31.2B, up 24% from $25.1B the previous quarter. Its ten largest holdings account for 32% of the portfolio.

Treasurer of the State of North Carolina deployed $3.08B of net new capital in Q2 2025, opening 38 new positions and adding to 790 existing holdings. Its largest new stake was Flutter Entertainment: 81,840 shares worth $23.4M.

By sector, the portfolio is most concentrated in Technology at 33% of assets, up from 29% a quarter earlier, followed by Financials and Consumer Discretionary.

On the sell side, the largest reduction was iShares Core S&P 500 ETF, an estimated $17.9M trimmed.

  • Treasurer of the State of North Carolina's largest Q2 2025 buy was Flutter Entertainment: 81,840 shares worth $23.4M.
  • Treasurer of the State of North Carolina added most to Apple in Q2 2025, an estimated $122M increase.
  • Treasurer of the State of North Carolina's biggest Q2 2025 reduction was iShares Core S&P 500 ETF, cutting an estimated $17.9M.
  • Treasurer of the State of North Carolina fully exited Discover Financial Services in Q2 2025, selling an estimated $26.9M.
  • Treasurer of the State of North Carolina's ten largest holdings make up 32% of its $31.2B portfolio in Q2 2025.
  • Treasurer of the State of North Carolina opened 38 new positions and closed 30 in Q2 2025.
  • Treasurer of the State of North Carolina's portfolio value rose 24% quarter-over-quarter to $31.2B.

Based on Treasurer of the State of North Carolina's 13F filing for Q2 2025, filed 14 Aug 2025.