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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
CVNA icon
276
Carvana
CVNA
$81.7B
$20.2M 0.06%
299,930
+52,380
+21% +$2.87M
FIS icon
277
Fidelity National Information Services
FIS
$22.1B
$20M 0.06%
245,977
-667
-0.3% -$51.9K
KDP icon
278
Keurig Dr Pepper
KDP
$42.1B
$20M 0.06%
604,962
+58,733
+11% +$1.99M
VEEV icon
279
Veeva Systems
VEEV
$39.2B
$19.9M 0.06%
68,950
+1,452
+2% +$360K
JBL icon
280
Jabil
JBL
$39.1B
$19.8M 0.06%
90,800
+14
+0% +$2.27K
F icon
281
Ford
F
$55.3B
$19.8M 0.06%
1,823,614
+26,526
+1% +$270K
PEG icon
282
Public Service Enterprise Group
PEG
$37.8B
$19.6M 0.06%
233,269
+5,046
+2% +$407K
VLO icon
283
Valero Energy
VLO
$97.6B
$19.6M 0.06%
145,810
+1,338
+0.9% +$167K
AOS icon
284
A.O. Smith
AOS
$8.49B
$19.5M 0.06%
297,615
+243,385
+449% +$15.9M
EA
285
DELISTED
Electronic Arts
EA
$19.5M 0.06%
121,840
+897
+0.7% +$133K
ALSN icon
286
Allison Transmission
ALSN
$10.2B
$19.4M 0.06%
204,208
+112,065
+122% +$10.8M
DDOG icon
287
Datadog
DDOG
$89.2B
$19.4M 0.06%
144,106
+5,033
+4% +$557K
YUM icon
288
Yum! Brands
YUM
$41.4B
$19.3M 0.06%
130,205
+1,256
+1% +$183K
WAB icon
289
Wabtec
WAB
$50.1B
$19.3M 0.06%
92,097
+9,545
+12% +$1.84M
ROST icon
290
Ross Stores
ROST
$78.6B
$19.2M 0.06%
150,491
+1,508
+1% +$209K
GLW icon
291
Corning
GLW
$141B
$19.2M 0.06%
364,719
+13,939
+4% +$653K
ALNY icon
292
Alnylam Pharmaceuticals
ALNY
$30.3B
$19M 0.06%
58,304
-651
-1% -$180K
CAH icon
293
Cardinal Health
CAH
$54B
$19M 0.06%
112,824
+1,353
+1% +$201K
RPRX icon
294
Royalty Pharma
RPRX
$26B
$18.9M 0.06%
525,629
+228,440
+77% +$7.57M
AMG icon
295
Affiliated Managers Group
AMG
$9.67B
$18.9M 0.06%
96,177
+53,330
+124% +$9.25M
OHI icon
296
Omega Healthcare
OHI
$14B
$18.7M 0.06%
510,528
+254,747
+100% +$9.46M
WPC icon
297
W.P. Carey
WPC
$16.3B
$18.7M 0.06%
299,915
+130,906
+77% +$8.06M
KVUE icon
298
Kenvue
KVUE
$36.8B
$18.6M 0.06%
887,672
+11,246
+1% +$256K
AKAM icon
299
Akamai
AKAM
$17.9B
$18.5M 0.06%
231,935
+105,818
+84% +$8.22M
EVR icon
300
Evercore
EVR
$11.7B
$18.4M 0.06%
68,191
+34,047
+100% +$7.49M
10 11
12
13 14

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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.