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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
+3.93%
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
-$1.27B
Cap. Flow
-$1.92B
Cap. Flow %
-6.15%
Top 10 Hldgs %
34.36%
Holding
1,016
New
6
Increased
92
Reduced
912
Closed
6

Top Buys

Rank Stock Value
1
BAC icon
Bank of America
BAC
+$33.2M
2
IVV icon
iShares Core S&P 500 ETF
IVV
+$33.2M
3
DUK icon
Duke Energy
DUK
+$29.4M
4
L icon
Loews
L
+$18M
5
PTC icon
PTC
PTC
+$17.5M

Top Sells

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$140M
2
NVDA icon
NVIDIA
NVDA
+$125M
3
MSFT icon
Microsoft
MSFT
+$98.5M
4
AMZN icon
Amazon
AMZN
+$70.4M
5
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$67.9M

Sector Composition

Rank Sector Weight
1 Technology 33.48%
2 Financials 13.06%
3 Consumer Discretionary 10.4%
4 Communication Services 10.34%
5 Healthcare 9.59%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HOLX
526
DELISTED
Hologic
HOLX
$6.96M 0.02%
93,464
-6,825
-7% -$499K
TPL icon
527
Texas Pacific Land
TPL
$23.9B
$6.94M 0.02%
24,174
-1,749
-7% -$534K
DKNG icon
528
DraftKings
DKNG
$12.6B
$6.94M 0.02%
201,361
-14,717
-7% -$484K
DOW icon
529
Dow Inc
DOW
$21.9B
$6.93M 0.02%
296,478
-21,660
-7% -$498K
APTV icon
530
Aptiv
APTV
$10.2B
$6.92M 0.02%
91,005
-6,655
-7% -$534K
TOST icon
531
Toast
TOST
$20.4B
$6.89M 0.02%
194,071
-9,031
-4% -$326K
TSN icon
532
Tyson Foods
TSN
$19.8B
$6.87M 0.02%
117,225
-8,564
-7% -$470K
COO icon
533
Cooper Companies
COO
$14.9B
$6.84M 0.02%
83,459
-6,101
-7% -$457K
ALSN icon
534
Allison Transmission
ALSN
$10.2B
$6.81M 0.02%
69,526
-132,613
-66% -$11.6M
NVT icon
535
nVent Electric
NVT
$27.5B
$6.8M 0.02%
66,717
-6,513
-9% -$676K
MAA icon
536
Mid-America Apartment Communities
MAA
$15.6B
$6.77M 0.02%
48,748
-3,564
-7% -$475K
ASTS icon
537
AST SpaceMobile
ASTS
$21.4B
$6.7M 0.02%
92,214
+5,688
+7% +$406K
JLL icon
538
Jones Lang LaSalle
JLL
$17B
$6.65M 0.02%
19,763
-1,450
-7% -$454K
J icon
539
Jacobs Solutions
J
$16.8B
$6.61M 0.02%
49,875
-3,640
-7% -$534K
XPO icon
540
XPO
XPO
$24.7B
$6.53M 0.02%
48,026
-3,518
-7% -$479K
RIVN icon
541
Rivian
RIVN
$22.9B
$6.49M 0.02%
329,475
-18,987
-5% -$301K
ATI icon
542
ATI
ATI
$30.9B
$6.48M 0.02%
56,443
-6,436
-10% -$627K
CG icon
543
Carlyle Group
CG
$18.3B
$6.48M 0.02%
109,580
-8,002
-7% -$455K
DOCU
544
DocuSign
DOCU
$12.2B
$6.47M 0.02%
94,595
-90,984
-49% -$6.29M
LII icon
545
Lennox International
LII
$14.5B
$6.46M 0.02%
13,309
-970
-7% -$486K
EWBC icon
546
East-West Bancorp
EWBC
$18.6B
$6.44M 0.02%
57,265
-4,183
-7% -$444K
TXT icon
547
Textron
TXT
$15.1B
$6.42M 0.02%
73,593
-6,271
-8% -$525K
PINS icon
548
Pinterest
PINS
$13.2B
$6.41M 0.02%
247,493
-18,078
-7% -$520K
NLY icon
549
Annaly Capital Management
NLY
$17.6B
$6.4M 0.02%
286,365
-2,498
-0.9% -$54.4K
RBRK icon
550
Rubrik
RBRK
$21.6B
$6.38M 0.02%
83,408
+31,129
+60% +$2.39M
20 21
22
23 24

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Treasurer of the State of North Carolina's Q4 2025 Portfolio in Review

As of Q4 2025, Treasurer of the State of North Carolina held 1,016 positions worth $31.2B, down 3.9% from $32.5B the previous quarter. Its ten largest holdings account for 34% of the portfolio.

Treasurer of the State of North Carolina withdrew a net $1.92B in Q4 2025, closing 6 positions and reducing 912 holdings. Its most notable exit was Kellanova, an estimated $10.2M position sold in full.

By sector, the portfolio is most concentrated in Technology at 33% of assets, down from 34% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Treasurer of the State of North Carolina opened a new position in Qnity Electronics Inc worth $7.16M.

  • Treasurer of the State of North Carolina's largest Q4 2025 buy was Qnity Electronics Inc: 87,692 shares worth $7.16M.
  • Treasurer of the State of North Carolina added most to Bank of America in Q4 2025, an estimated $33.2M increase.
  • Treasurer of the State of North Carolina's biggest Q4 2025 reduction was Apple, cutting an estimated $140M.
  • Treasurer of the State of North Carolina fully exited Kellanova in Q4 2025, selling an estimated $10.2M.
  • Treasurer of the State of North Carolina's ten largest holdings make up 34% of its $31.2B portfolio in Q4 2025.
  • Treasurer of the State of North Carolina opened 6 new positions and closed 6 in Q4 2025.
  • Treasurer of the State of North Carolina's portfolio value fell 3.9% quarter-over-quarter to $31.2B.

Based on Treasurer of the State of North Carolina's 13F filing for Q4 2025, filed 13 Feb 2026.