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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
USFD icon
501
US Foods
USFD
$23.8B
$8.26M 0.03%
107,264
+7,725
+8% +$551K
TWLO icon
502
Twilio
TWLO
$38.3B
$8.21M 0.03%
66,053
-3,952
-6% -$420K
RDDT icon
503
Reddit
RDDT
$30.4B
$8.2M 0.03%
+54,460
New +$6.17M
HAL icon
504
Halliburton
HAL
$27.4B
$8.16M 0.03%
400,468
-2,987
-0.7% -$62.7K
JAZZ icon
505
Jazz Pharmaceuticals
JAZZ
$16B
$8.06M 0.03%
75,968
+47,406
+166% +$5.15M
MAA icon
506
Mid-America Apartment Communities
MAA
$15.6B
$8.04M 0.03%
54,355
+1,218
+2% +$190K
EQH icon
507
Equitable Holdings
EQH
$14.4B
$8.01M 0.03%
142,859
-127
-0.1% -$6.53K
TRU icon
508
TransUnion
TRU
$15.5B
$8.01M 0.03%
91,049
+2,250
+3% +$188K
TW icon
509
Tradeweb Markets
TW
$22.3B
$7.97M 0.03%
54,460
+1,347
+3% +$188K
COKE icon
510
Coca-Cola Consolidated
COKE
$12.7B
$7.95M 0.03%
71,235
+37,595
+112% +$4.54M
FDS icon
511
Factset
FDS
$10.2B
$7.93M 0.03%
17,732
+332
+2% +$145K
GPC icon
512
Genuine Parts
GPC
$18.7B
$7.86M 0.03%
64,790
+1,145
+2% +$138K
ESAB icon
513
ESAB
ESAB
$5.29B
$7.86M 0.03%
65,197
+25,745
+65% +$3.11M
FSLR icon
514
First Solar
FSLR
$24B
$7.85M 0.03%
47,416
-4,140
-8% -$611K
FIVE icon
515
Five Below
FIVE
$13.4B
$7.82M 0.03%
59,598
+22,616
+61% +$2.2M
OLED icon
516
Universal Display
OLED
$4.18B
$7.79M 0.03%
50,399
+29,052
+136% +$4.07M
PKG icon
517
Packaging Corp of America
PKG
$22.9B
$7.78M 0.02%
41,259
+694
+2% +$131K
LUV icon
518
Southwest Airlines
LUV
$22B
$7.75M 0.02%
238,800
-34,596
-13% -$1.04M
MDB icon
519
MongoDB
MDB
$38B
$7.74M 0.02%
36,840
+4,078
+12% +$754K
KEY icon
520
KeyCorp
KEY
$24.6B
$7.7M 0.02%
441,723
+18,220
+4% +$282K
OKTA icon
521
Okta
OKTA
$26.9B
$7.69M 0.02%
76,952
+2,880
+4% +$308K
DT icon
522
Dynatrace
DT
$14.7B
$7.57M 0.02%
137,156
+700
+0.5% +$35.1K
SFM icon
523
Sprouts Farmers Market
SFM
$7.71B
$7.53M 0.02%
+45,730
New +$7.47M
AVTR icon
524
Avantor
AVTR
$9.37B
$7.48M 0.02%
556,032
+158,652
+40% +$2.17M
CSL icon
525
Carlisle Companies
CSL
$14.9B
$7.48M 0.02%
20,027
-16,744
-46% -$6.22M
19 20
21
22 23

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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.