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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
CELH icon
751
Celsius Holdings
CELH
$7.25B
$3.56M 0.01%
76,793
-3,785
-5% -$146K
PRMB
752
Primo Brands
PRMB
$9.01B
$3.55M 0.01%
+119,930
New +$3.83M
NFG icon
753
National Fuel Gas
NFG
$7.73B
$3.55M 0.01%
41,894
+929
+2% +$75K
MASI
754
DELISTED
Masimo
MASI
$3.54M 0.01%
21,053
+1,198
+6% +$191K
MTCH icon
755
Match Group
MTCH
$8.55B
$3.53M 0.01%
114,184
-325
-0.3% -$9.72K
AES icon
756
AES
AES
$10.5B
$3.49M 0.01%
331,630
+7,141
+2% +$76.4K
BPOP icon
757
Popular Inc
BPOP
$11.3B
$3.48M 0.01%
31,589
-78
-0.2% -$7.7K
CRL icon
758
Charles River Laboratories
CRL
$13.4B
$3.46M 0.01%
22,783
-593
-3% -$79.1K
MORN icon
759
Morningstar
MORN
$7.76B
$3.45M 0.01%
10,984
-1,225
-10% -$363K
ALB icon
760
Albemarle
ALB
$15.4B
$3.44M 0.01%
54,889
+1,209
+2% +$71.5K
BRBR icon
761
BellRing Brands
BRBR
$1.28B
$3.43M 0.01%
59,286
+456
+0.8% +$30.4K
BEN icon
762
Franklin Resources
BEN
$17.2B
$3.42M 0.01%
143,577
+1,937
+1% +$39.9K
AAL icon
763
American Airlines Group
AAL
$9.92B
$3.42M 0.01%
304,623
+5,122
+2% +$54.8K
MUSA icon
764
Murphy USA
MUSA
$10.3B
$3.42M 0.01%
8,398
+19
+0.2% +$8.64K
SAIA icon
765
Saia
SAIA
$10.2B
$3.41M 0.01%
12,442
+323
+3% +$92K
BWA icon
766
BorgWarner
BWA
$13.8B
$3.41M 0.01%
101,786
+2,138
+2% +$65.5K
OSK icon
767
Oshkosh
OSK
$9.36B
$3.39M 0.01%
29,870
+23
+0.1% +$2.23K
SNV
768
DELISTED
Synovus
SNV
$3.35M 0.01%
64,777
+399
+0.6% +$18.3K
MEDP icon
769
Medpace
MEDP
$16.3B
$3.35M 0.01%
10,672
-957
-8% -$287K
RYAN icon
770
Ryan Specialty Holdings
RYAN
$11B
$3.33M 0.01%
49,044
+2,224
+5% +$153K
ADT icon
771
ADT
ADT
$5.46B
$3.32M 0.01%
391,679
+142,176
+57% +$1.16M
LW icon
772
Lamb Weston
LW
$7.42B
$3.3M 0.01%
63,634
-1,385
-2% -$74.2K
TTC icon
773
Toro Company
TTC
$9.23B
$3.29M 0.01%
46,572
+267
+0.6% +$18.9K
MGM icon
774
MGM Resorts International
MGM
$11B
$3.29M 0.01%
95,699
-9,098
-9% -$288K
BFAM icon
775
Bright Horizons
BFAM
$3.88B
$3.28M 0.01%
26,551
+185
+0.7% +$22.7K
29 30
31
32 33

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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.