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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
CHE icon
776
Chemed
CHE
$7.1B
$3.27M 0.01%
6,706
-16
-0.2% -$9.12K
SN icon
777
SharkNinja
SN
$26.6B
$3.25M 0.01%
32,873
+2,593
+9% +$224K
KNX icon
778
Knight Transportation
KNX
$11.9B
$3.25M 0.01%
73,530
+1,933
+3% +$82.2K
EXLS icon
779
EXL Service
EXLS
$5.22B
$3.24M 0.01%
+73,910
New +$3.38M
CFLT
780
DELISTED
Confluent
CFLT
$3.22M 0.01%
129,301
+16,022
+14% +$361K
CORT icon
781
Corcept Therapeutics
CORT
$12.1B
$3.22M 0.01%
+43,900
New +$3.18M
SLM icon
782
SLM Corp
SLM
$5.21B
$3.2M 0.01%
97,708
+1,243
+1% +$38K
VOYA icon
783
Voya Financial
VOYA
$9.12B
$3.19M 0.01%
44,916
+891
+2% +$57.2K
FLS icon
784
Flowserve
FLS
$10.2B
$3.19M 0.01%
60,852
+773
+1% +$36.4K
ELF icon
785
e.l.f. Beauty
ELF
$5.46B
$3.18M 0.01%
25,573
+983
+4% +$83.9K
TPG icon
786
TPG
TPG
$8.4B
$3.17M 0.01%
60,478
+21,562
+55% +$1.03M
STAG icon
787
STAG Industrial
STAG
$7.14B
$3.16M 0.01%
87,191
+4,397
+5% +$152K
VNO icon
788
Vornado Realty Trust
VNO
$7.43B
$3.15M 0.01%
82,376
+2,188
+3% +$81.9K
MKSI icon
789
MKS Inc
MKSI
$21.2B
$3.12M 0.01%
31,382
+790
+3% +$64.2K
EXP icon
790
Eagle Materials
EXP
$6.42B
$3.11M 0.01%
15,400
+174
+1% +$37.5K
LSCC icon
791
Lattice Semiconductor
LSCC
$18.3B
$3.11M 0.01%
63,506
+1,195
+2% +$57.2K
GMED icon
792
Globus Medical
GMED
$11.5B
$3.09M 0.01%
52,374
+1,144
+2% +$73.9K
ARW icon
793
Arrow Electronics
ARW
$10.7B
$3.07M 0.01%
24,114
+111
+0.5% +$12.7K
FOUR icon
794
Shift4
FOUR
$3.64B
$3.07M 0.01%
31,007
+2,973
+11% +$259K
CHDN icon
795
Churchill Downs
CHDN
$6.19B
$3.07M 0.01%
30,371
-1,512
-5% -$148K
DINO icon
796
HF Sinclair
DINO
$16.3B
$3.06M 0.01%
74,611
+3,864
+5% +$133K
RGEN icon
797
Repligen
RGEN
$9.43B
$3.06M 0.01%
24,603
-887
-3% -$113K
LITE icon
798
Lumentum
LITE
$80.2B
$3.05M 0.01%
32,103
+1,011
+3% +$71.7K
SSD icon
799
Simpson Manufacturing
SSD
$8B
$3.04M 0.01%
19,566
+176
+0.9% +$27.3K
APA icon
800
APA Corp
APA
$13.9B
$3.03M 0.01%
165,651
+81
+0% +$1.41K
30 31
32
33 34

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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.