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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
MAS icon
576
Masco
MAS
$14.7B
$6.34M 0.02%
98,566
-76
-0.1% -$4.79K
UDR icon
577
UDR
UDR
$12.2B
$6.3M 0.02%
154,314
+4,097
+3% +$170K
CG icon
578
Carlyle Group
CG
$18.3B
$6.28M 0.02%
122,168
+18,997
+18% +$818K
PFGC icon
579
Performance Food Group
PFGC
$16.4B
$6.24M 0.02%
71,280
+1,357
+2% +$113K
CRS icon
580
Carpenter Technology
CRS
$26.6B
$6.21M 0.02%
+22,480
New +$4.9M
IEX icon
581
IDEX
IEX
$17.6B
$6.2M 0.02%
35,308
+642
+2% +$114K
JNPR
582
DELISTED
Juniper Networks
JNPR
$6.16M 0.02%
154,325
+5,300
+4% +$190K
TLN
583
Talen Energy Corp
TLN
$17.2B
$6.16M 0.02%
+21,190
New +$5.03M
BWXT icon
584
BWX Technologies
BWXT
$15.6B
$6.14M 0.02%
42,615
+900
+2% +$105K
JKHY icon
585
Jack Henry & Associates
JKHY
$11.1B
$6.11M 0.02%
33,909
+718
+2% +$127K
BLDR icon
586
Builders FirstSource
BLDR
$7.91B
$6.08M 0.02%
52,141
+329
+0.6% +$38K
AXS icon
587
AXIS Capital
AXS
$7.3B
$6.08M 0.02%
58,574
+15,338
+35% +$1.53M
BAH icon
588
Booz Allen Hamilton
BAH
$9.43B
$6.08M 0.02%
58,344
+640
+1% +$71.7K
NEU icon
589
NewMarket
NEU
$8.72B
$6.07M 0.02%
8,785
+3,595
+69% +$2.23M
ALGN icon
590
Align Technology
ALGN
$12.5B
$6.06M 0.02%
32,019
-2,276
-7% -$402K
BBY icon
591
Best Buy
BBY
$18B
$6.06M 0.02%
90,280
-7,196
-7% -$489K
ALAB icon
592
Astera Labs
ALAB
$56B
$6.05M 0.02%
66,888
+16,408
+33% +$1.3M
REG icon
593
Regency Centers
REG
$14.1B
$6.01M 0.02%
84,377
+1,763
+2% +$126K
QXO
594
QXO Inc
QXO
$16.1B
$5.99M 0.02%
+278,010
New +$4.56M
ITT icon
595
ITT
ITT
$19.4B
$5.91M 0.02%
37,651
-50
-0.1% -$7.12K
APG icon
596
APi Group
APG
$18.8B
$5.86M 0.02%
172,094
+13,319
+8% +$381K
TKO icon
597
TKO Group
TKO
$14.6B
$5.84M 0.02%
32,113
-3,986
-11% -$640K
ARE icon
598
Alexandria Real Estate Equities
ARE
$8.33B
$5.82M 0.02%
80,116
+1,658
+2% +$123K
TXRH icon
599
Texas Roadhouse
TXRH
$13.6B
$5.79M 0.02%
30,921
-20,463
-40% -$3.67M
ALLE icon
600
Allegion
ALLE
$14.2B
$5.79M 0.02%
40,194
+172
+0.4% +$23.5K
22 23
24
25 26

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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.