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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
AXTA icon
801
Axalta
AXTA
$7.96B
$3.03M 0.01%
101,924
+2,327
+2% +$72.5K
KEX icon
802
Kirby Corp
KEX
$7.23B
$3M 0.01%
26,440
+382
+1% +$40.1K
AGCO icon
803
AGCO
AGCO
$6.99B
$2.99M 0.01%
28,976
+502
+2% +$47.9K
STWD icon
804
Starwood Property Trust
STWD
$6.06B
$2.98M 0.01%
148,566
+2,899
+2% +$56.3K
BBWI icon
805
Bath & Body Works
BBWI
$3.69B
$2.98M 0.01%
99,447
+302
+0.3% +$8.84K
RVMD icon
806
Revolution Medicines
RVMD
$43.5B
$2.98M 0.01%
+80,960
New +$3.11M
HALO icon
807
Halozyme
HALO
$11.4B
$2.98M 0.01%
+57,240
New +$3.26M
AM icon
808
Antero Midstream
AM
$10.5B
$2.96M 0.01%
156,225
+1,134
+0.7% +$20.3K
MAT icon
809
Mattel
MAT
$4.21B
$2.96M 0.01%
149,989
-4,856
-3% -$86.4K
GPK icon
810
Graphic Packaging
GPK
$3.48B
$2.93M 0.01%
139,107
+3,215
+2% +$74.3K
LYFT icon
811
Lyft
LYFT
$6.33B
$2.93M 0.01%
185,909
+15,834
+9% +$222K
FBIN icon
812
Fortune Brands Innovations
FBIN
$5.77B
$2.91M 0.01%
56,505
+160
+0.3% +$8.37K
IDA icon
813
Idacorp
IDA
$8.14B
$2.91M 0.01%
25,184
+877
+4% +$102K
MSA icon
814
Mine Safety
MSA
$7.33B
$2.9M 0.01%
17,278
+342
+2% +$53.5K
CE icon
815
Celanese
CE
$4.82B
$2.88M 0.01%
52,124
+2,206
+4% +$110K
WH icon
816
Wyndham Hotels & Resorts
WH
$5.47B
$2.88M 0.01%
35,456
+810
+2% +$67.8K
FR icon
817
First Industrial Realty Trust
FR
$8.42B
$2.88M 0.01%
59,782
-639
-1% -$31.1K
KBR icon
818
KBR
KBR
$4.77B
$2.88M 0.01%
60,008
-887
-1% -$46K
IONS icon
819
Ionis Pharmaceuticals
IONS
$9.26B
$2.87M 0.01%
72,587
+994
+1% +$32.5K
SNDK
820
Sandisk
SNDK
$227B
$2.86M 0.01%
63,000
+8,259
+15% +$316K
AL
821
DELISTED
Air Lease Corp
AL
$2.85M 0.01%
48,646
+925
+2% +$48.1K
THG icon
822
Hanover Insurance
THG
$7.74B
$2.84M 0.01%
16,732
+408
+2% +$68.1K
ALK icon
823
Alaska Air
ALK
$5.36B
$2.83M 0.01%
57,196
+1,006
+2% +$48.9K
FAF icon
824
First American
FAF
$7.5B
$2.82M 0.01%
45,932
+220
+0.5% +$13.1K
RITM icon
825
Rithm Capital
RITM
$5.75B
$2.79M 0.01%
247,133
+9,880
+4% +$109K
31 32
33
34 35

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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.