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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
ALGM icon
901
Allegro MicroSystems
ALGM
$8.49B
$1.97M 0.01%
57,486
+3,908
+7% +$97.3K
VFC icon
902
VF Corp
VFC
$5.82B
$1.93M 0.01%
164,017
+3,926
+2% +$48.7K
EEFT icon
903
Euronet Worldwide
EEFT
$2.7B
$1.92M 0.01%
18,942
+7
+0% +$724
RHI icon
904
Robert Half
RHI
$4.26B
$1.9M 0.01%
46,188
-105
-0.2% -$4.78K
AGO icon
905
Assured Guaranty
AGO
$3.33B
$1.89M 0.01%
21,747
-491
-2% -$41.8K
KRC icon
906
Kilroy Realty
KRC
$4.3B
$1.88M 0.01%
54,785
+1,317
+2% +$42.9K
MP icon
907
MP Materials
MP
$9.78B
$1.87M 0.01%
56,321
-2,837
-5% -$72.4K
BF.B icon
908
Brown-Forman Class B
BF.B
$12.9B
$1.86M 0.01%
68,990
-13,491
-16% -$433K
KMPR icon
909
Kemper
KMPR
$1.56B
$1.84M 0.01%
28,555
+845
+3% +$52.3K
GFS icon
910
GlobalFoundries
GFS
$29.2B
$1.83M 0.01%
47,993
+3,005
+7% +$109K
GLOB icon
911
Globant
GLOB
$1.69B
$1.83M 0.01%
20,163
+923
+5% +$98.6K
TIGO icon
912
Millicom
TIGO
$15.9B
$1.8M 0.01%
+47,990
New +$1.64M
PSN icon
913
Parsons
PSN
$5.01B
$1.77M 0.01%
24,643
+3,713
+18% +$245K
AMTM
914
Amentum Holdings
AMTM
$5.33B
$1.76M 0.01%
74,368
+6,585
+10% +$138K
MSM icon
915
MSC Industrial Direct
MSM
$6.7B
$1.75M 0.01%
20,531
-468
-2% -$37K
INSP icon
916
Inspire Medical Systems
INSP
$1.67B
$1.74M 0.01%
13,366
-38
-0.3% -$5.51K
CLF icon
917
Cleveland-Cliffs
CLF
$6.96B
$1.73M 0.01%
227,285
+6,806
+3% +$50.6K
LOAR icon
918
Loar Holdings
LOAR
$6.86B
$1.72M 0.01%
19,919
+3,899
+24% +$337K
PRGO icon
919
Perrigo
PRGO
$1.74B
$1.7M 0.01%
63,632
+1,628
+3% +$42.6K
BC icon
920
Brunswick
BC
$5.3B
$1.69M 0.01%
30,598
+587
+2% +$29.7K
VIRT icon
921
Virtu Financial
VIRT
$5.04B
$1.69M 0.01%
37,680
+1,057
+3% +$42.6K
PVH icon
922
PVH
PVH
$3.8B
$1.67M 0.01%
24,397
-979
-4% -$71.1K
WFRD icon
923
Weatherford International
WFRD
$6.57B
$1.67M 0.01%
33,245
+225
+0.7% +$10.5K
DRS icon
924
Leonardo DRS
DRS
$11.9B
$1.64M 0.01%
+35,320
New +$1.42M
CACC icon
925
Credit Acceptance
CACC
$5.99B
$1.63M 0.01%
3,205
+364
+13% +$179K
35 36
37
38 39

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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.