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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
+9.92%
1 Year Est. Return
+28.93%
3 Year Est. Return
+100.69%
5 Year Est. Return
+135.6%
10 Year Est. Return
–
AUM
$32.5B
AUM Growth
+$1.29B
(+4.2%)
Cap. Flow
-$1.07B
Cap. Flow
% of AUM
-3.3%
Top 10 Holdings %
Top 10 Hldgs %
33.94%
Holding
1,020
New
5
Increased
84
Reduced
921
Closed
10
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Johnson & Johnson
JNJ
|
+$37.7M |
| 2 |
McDonald's
MCD
|
+$37.6M |
| 3 |
General Dynamics
GD
|
+$35.3M |
| 4 |
Entergy
ETR
|
+$30.4M |
| 5 |
SCHW
Charles Schwab
SCHW
|
+$26.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NVIDIA
NVDA
|
+$88.4M |
| 2 |
Apple
AAPL
|
+$84.6M |
| 3 |
Microsoft
MSFT
|
+$58.6M |
| 4 |
Alphabet (Google) Class A
GOOGL
|
+$33.3M |
| 5 |
Broadcom
AVGO
|
+$32.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 33.73% |
| 2 | Financials | 13.14% |
| 3 | Consumer Discretionary | 10.75% |
| 4 | Communication Services | 10.06% |
| 5 | Healthcare | 8.81% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
Intuitive Surgical
ISRG
$142B
| $71.8M | 0.22% |
160,468
-6,245
| -4% | -$3M |
|
77
Boeing
BA
$182B
| $70.3M | 0.22% |
325,828
-12,695
| -4% | -$2.86M |
|
78
NextEra Energy
NEE
$179B
| $70M | 0.22% |
927,209
-36,127
| -4% | -$2.64M |
|
79
Accenture
ACN
$114B
| $69.4M | 0.21% |
281,461
-10,963
| -4% | -$2.86M |
|
80
Amgen
AMGN
$226B
| $68.2M | 0.21% |
241,843
-9,421
| -4% | -$2.73M |
|
81
Comcast
CMCSA
$92.4B
| $67.7M | 0.21% |
2,154,777
-383,073
| -15% | -$12.8M |
|
82
Arista Networks
ANET
$263B
| $67.6M | 0.21% |
463,839
-18,064
| -4% | -$2.33M |
|
83
Adobe
ADBE
$105B
| $67.5M | 0.21% |
191,359
-44,718
| -19% | -$16M |
|
84
S&P Global
SPGI
$123B
| $67.2M | 0.21% |
138,062
-5,380
| -4% | -$2.88M |
|
85
Amphenol
APH
$207B
| $67.1M | 0.21% |
542,146
-21,120
| -4% | -$2.32M |
|
86
Eaton
ETN
$176B
| $65.9M | 0.2% |
176,206
-6,862
| -4% | -$2.5M |
|
87
Intel
INTC
$529B
| $65.9M | 0.2% |
1,964,881
-76,553
| -4% | -$1.85M |
|
88
ConocoPhillips
COP
$150B
| $65.3M | 0.2% |
690,728
-22,282
| -3% | -$2.11M |
|
89
Progressive
PGR
$122B
| $65.1M | 0.2% |
263,478
-10,263
| -4% | -$2.53M |
|
90
Boston Scientific
BSX
$75.7B
| $64.8M | 0.2% |
663,682
-25,852
| -4% | -$2.68M |
|
91
O'Reilly Automotive
ORLY
$75.8B
| $64.2M | 0.2% |
595,861
-5,099
| -0.8% | -$513K |
|
92
Robinhood
HOOD
$89.4B
| $64.1M | 0.2% |
447,710
-54,067
| -11% | -$5.9M |
|
93
Union Pacific
UNP
$176B
| $63.6M | 0.2% |
268,895
-10,479
| -4% | -$2.36M |
|
94
Simon Property Group
SPG
$72.2B
| $63.4M | 0.2% |
337,650
-5,838
| -2% | -$1.01M |
|
95
Lowe's Companies
LOW
$122B
| $63.3M | 0.2% |
251,996
-9,824
| -4% | -$2.41M |
|
96
Newmont
NEM
$121B
| $62M | 0.19% |
735,967
-26,236
| -3% | -$1.83M |
|
|
97
Entergy
ETR
$50B
| $62M | 0.19% |
665,110
+345,201
| +108% | +$30.4M |
|
98
Royal Caribbean
RCL
$83.5B
| $61.3M | 0.19% |
189,380
-5,785
| -3% | -$1.93M |
|
99
Honeywell
HON
$73.9B
| $60.2M | 0.19% |
303,370
-15,689
| -5% | -$3.28M |
|
100
Roper Technologies
ROP
$39.2B
| $57.5M | 0.18% |
115,229
-1,933
| -2% | -$1.03M |
|
Similar funds
GAM
Treasurer of the State of North Carolina's Q3 2025 Portfolio in Review
As of Q3 2025, Treasurer of the State of North Carolina held 1,020 positions worth $32.5B, up 4.2% from $31.2B the previous quarter. Its ten largest holdings account for 34% of the portfolio.
Treasurer of the State of North Carolina withdrew a net $1.07B in Q3 2025, closing 10 positions and reducing 921 holdings. Its most notable exit was Hess, an estimated $18.3M position sold in full.
By sector, the portfolio is most concentrated in Technology at 34% of assets, up from 33% a quarter earlier, followed by Financials and Consumer Discretionary.
Against the trend, Treasurer of the State of North Carolina opened a new position in Circle Internet Group worth $2.81M.
- Treasurer of the State of North Carolina's largest Q3 2025 buy was Circle Internet Group: 21,218 shares worth $2.81M.
- Treasurer of the State of North Carolina added most to Johnson & Johnson in Q3 2025, an estimated $37.7M increase.
- Treasurer of the State of North Carolina's biggest Q3 2025 reduction was NVIDIA, cutting an estimated $88.4M.
- Treasurer of the State of North Carolina fully exited Hess in Q3 2025, selling an estimated $18.3M.
- Treasurer of the State of North Carolina's ten largest holdings make up 34% of its $32.5B portfolio in Q3 2025.
- Treasurer of the State of North Carolina opened 5 new positions and closed 10 in Q3 2025.
- Treasurer of the State of North Carolina's portfolio value rose 4.2% quarter-over-quarter to $32.5B.
Based on Treasurer of the State of North Carolina's 13F filing for Q3 2025, filed 13 Nov 2025.