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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
DAL icon
251
Delta Air Lines
DAL
$60.3B
$22.4M 0.07%
455,985
+150,395
+49% +$6.91M
HPE icon
252
Hewlett Packard
HPE
$80.3B
$22.1M 0.07%
1,078,677
+313,946
+41% +$5.26M
LHX icon
253
L3Harris
LHX
$53.7B
$21.9M 0.07%
87,238
+563
+0.6% +$129K
PSA icon
254
Public Storage
PSA
$61B
$21.6M 0.07%
73,774
+1,390
+2% +$411K
GWW icon
255
W.W. Grainger
GWW
$61.8B
$21.5M 0.07%
20,691
+779
+4% +$809K
SLB icon
256
SLB Ltd
SLB
$77.3B
$21.5M 0.07%
635,441
-10,753
-2% -$373K
HIG icon
257
Hartford Financial Services
HIG
$37.6B
$21.3M 0.07%
167,868
+6,285
+4% +$781K
ULTA icon
258
Ulta Beauty
ULTA
$22.1B
$21.2M 0.07%
45,217
+15,554
+52% +$6.43M
MET icon
259
MetLife
MET
$61.7B
$21.1M 0.07%
262,811
-2,131
-0.8% -$164K
CMI icon
260
Cummins
CMI
$87.9B
$21.1M 0.07%
64,289
+1,759
+3% +$545K
EW icon
261
Edwards Lifesciences
EW
$53.3B
$21M 0.07%
268,860
+1,065
+0.4% +$79.4K
ON icon
262
ON Semiconductor
ON
$32.5B
$21M 0.07%
400,011
+95,548
+31% +$4.15M
DGX icon
263
Quest Diagnostics
DGX
$26.1B
$20.8M 0.07%
115,977
+42,708
+58% +$7.42M
CCI icon
264
Crown Castle
CCI
$32.2B
$20.8M 0.07%
202,676
+3,706
+2% +$375K
ZM icon
265
Zoom
ZM
$31.2B
$20.8M 0.07%
266,537
+101,437
+61% +$7.84M
EXPE icon
266
Expedia Group
EXPE
$39.1B
$20.6M 0.07%
122,177
+61,435
+101% +$9.97M
EXC icon
267
Exelon
EXC
$46.8B
$20.5M 0.07%
472,175
+14,240
+3% +$634K
NU icon
268
Nu Holdings
NU
$67B
$20.5M 0.07%
1,491,469
+6,462
+0.4% +$77.4K
MNST icon
269
Monster Beverage
MNST
$91.7B
$20.4M 0.07%
651,726
+4,896
+0.8% +$150K
PHM icon
270
Pultegroup
PHM
$24.8B
$20.4M 0.07%
193,432
+64,898
+50% +$6.54M
MTG icon
271
MGIC Investment
MTG
$6.3B
$20.3M 0.07%
729,857
+396,480
+119% +$10.2M
TTWO icon
272
Take-Two Interactive
TTWO
$45.1B
$20.3M 0.07%
83,614
+4,708
+6% +$1.06M
CPRT icon
273
Copart
CPRT
$27B
$20.3M 0.07%
413,083
+13,860
+3% +$776K
MSCI icon
274
MSCI
MSCI
$40.9B
$20.3M 0.07%
35,130
+344
+1% +$190K
IDXX icon
275
Idexx Laboratories
IDXX
$44B
$20.2M 0.06%
37,694
+499
+1% +$239K
9 10
11
12 13

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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.