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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
SWKS icon
626
Skyworks Solutions
SWKS
$10.5B
$5.33M 0.02%
71,593
-1,903
-3% -$127K
Z icon
627
Zillow
Z
$8.08B
$5.32M 0.02%
75,956
+4,960
+7% +$334K
CNH
628
CNH Industrial
CNH
$16.7B
$5.31M 0.02%
410,001
+10,548
+3% +$130K
ROKU icon
629
Roku
ROKU
$22.9B
$5.29M 0.02%
60,207
+2,384
+4% +$167K
TOL icon
630
Toll Brothers
TOL
$14B
$5.27M 0.02%
46,208
+700
+2% +$72.6K
CHRW icon
631
C.H. Robinson
CHRW
$17.5B
$5.26M 0.02%
54,872
+1,738
+3% +$163K
NLY icon
632
Annaly Capital Management
NLY
$17.6B
$5.26M 0.02%
279,311
+22,840
+9% +$434K
NWSA icon
633
News Corp Class A
NWSA
$15.6B
$5.26M 0.02%
176,848
+2,717
+2% +$74.7K
LECO icon
634
Lincoln Electric
LECO
$15.5B
$5.25M 0.02%
25,325
+69
+0.3% +$13.2K
DTM icon
635
DT Midstream
DTM
$13.8B
$5.21M 0.02%
47,389
+1,276
+3% +$129K
ARMK icon
636
Aramark
ARMK
$16.1B
$5.16M 0.02%
123,288
+3,470
+3% +$129K
ELAN icon
637
Elanco Animal Health
ELAN
$11.2B
$5.16M 0.02%
361,378
+89,883
+33% +$1.05M
LBRDK icon
638
Liberty Broadband Class C
LBRDK
$5.29B
$5.14M 0.02%
52,296
+258
+0.5% +$23.1K
VIK icon
639
Viking Holdings
VIK
$47.3B
$5.06M 0.02%
+94,950
New +$4.19M
INCY icon
640
Incyte
INCY
$24.4B
$5.03M 0.02%
73,899
+1,131
+2% +$71.7K
ALLY icon
641
Ally Financial
ALLY
$13.6B
$5.02M 0.02%
128,901
+3,312
+3% +$115K
RL icon
642
Ralph Lauren
RL
$23.1B
$5.01M 0.02%
18,278
+198
+1% +$49K
KNSL icon
643
Kinsale Capital Group
KNSL
$8.59B
$5M 0.02%
10,327
+247
+2% +$115K
BXP icon
644
Boston Properties
BXP
$11B
$4.99M 0.02%
73,981
+2,121
+3% +$141K
SNX icon
645
TD Synnex
SNX
$20.4B
$4.99M 0.02%
36,753
-30,154
-45% -$3.54M
IOT icon
646
Samsara
IOT
$24B
$4.99M 0.02%
+125,320
New +$5.18M
BG icon
647
Bunge Global
BG
$21.7B
$4.98M 0.02%
62,037
+1,278
+2% +$101K
FHN icon
648
First Horizon
FHN
$12.3B
$4.98M 0.02%
234,842
-161,400
-41% -$3.08M
RIVN icon
649
Rivian
RIVN
$22.9B
$4.97M 0.02%
362,041
-24,162
-6% -$328K
LAMR icon
650
Lamar Advertising Co
LAMR
$15.8B
$4.97M 0.02%
40,926
+1,079
+3% +$125K
24 25
26
27 28

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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.