We are live on
!
Find out more
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
+3.93%
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
-$1.27B
(-3.9%)
Cap. Flow
-$1.92B
Cap. Flow
% of AUM
-6.15%
Top 10 Holdings %
Top 10 Hldgs %
34.36%
Holding
1,016
New
6
Increased
92
Reduced
912
Closed
6
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Bank of America
BAC
|
+$33.2M |
| 2 |
iShares Core S&P 500 ETF
IVV
|
+$33.2M |
| 3 |
Duke Energy
DUK
|
+$29.4M |
| 4 |
Loews
L
|
+$18M |
| 5 |
PTC
PTC
|
+$17.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$140M |
| 2 |
NVIDIA
NVDA
|
+$125M |
| 3 |
Microsoft
MSFT
|
+$98.5M |
| 4 |
Amazon
AMZN
|
+$70.4M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$67.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 33.48% |
| 2 | Financials | 13.06% |
| 3 | Consumer Discretionary | 10.4% |
| 4 | Communication Services | 10.34% |
| 5 | Healthcare | 9.59% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
TJX Companies
TJX
$169B
| $72M | 0.23% |
468,671
-34,250
| -7% | -$5.07M |
|
77
AT&T
T
$166B
| $71.9M | 0.23% |
2,895,887
-258,123
| -8% | -$6.53M |
|
78
Pfizer
PFE
$152B
| $71.8M | 0.23% |
2,882,659
-174,883
| -6% | -$4.41M |
|
|
SCHW
79
Charles Schwab
SCHW
$190B
| $71.4M | 0.23% |
715,089
-362,864
| -34% | -$34.4M |
|
80
NextEra Energy
NEE
$180B
| $70.2M | 0.22% |
874,142
-53,067
| -6% | -$4.4M |
|
81
Arista Networks
ANET
$263B
| $69.9M | 0.22% |
533,799
+69,960
| +15% | +$9.63M |
|
|
82
Duke Energy
DUK
$97B
| $69.2M | 0.22% |
590,587
+240,797
| +69% | +$29.4M |
|
83
Amphenol
APH
$208B
| $69.1M | 0.22% |
511,267
-30,879
| -6% | -$4.13M |
|
84
Boeing
BA
$183B
| $68M | 0.22% |
313,209
-12,619
| -4% | -$2.6M |
|
85
Palo Alto Networks
PANW
$324B
| $67M | 0.21% |
363,483
-14,136
| -4% | -$2.85M |
|
86
S&P Global
SPGI
$123B
| $66.4M | 0.21% |
127,023
-11,039
| -8% | -$5.46M |
|
87
ServiceNow
NOW
$130B
| $66.3M | 0.21% |
433,000
-31,640
| -7% | -$5.43M |
|
88
Simon Property Group
SPG
$71.9B
| $60.6M | 0.19% |
327,372
-10,278
| -3% | -$1.87M |
|
89
ConocoPhillips
COP
$151B
| $60.4M | 0.19% |
645,349
-45,379
| -7% | -$4.1M |
|
90
Danaher
DHR
$145B
| $60.4M | 0.19% |
263,843
-23,013
| -8% | -$5.06M |
|
91
Boston Scientific
BSX
$75.4B
| $59M | 0.19% |
618,485
-45,197
| -7% | -$4.43M |
|
92
Union Pacific
UNP
$177B
| $58M | 0.19% |
250,588
-18,307
| -7% | -$4.18M |
|
93
Newmont
NEM
$121B
| $56.9M | 0.18% |
569,543
-166,424
| -23% | -$15M |
|
94
Lowe's Companies
LOW
$122B
| $56.6M | 0.18% |
234,838
-17,158
| -7% | -$4.12M |
|
95
Cummins
CMI
$87.5B
| $56.5M | 0.18% |
110,733
+1,066
| +1% | +$498K |
|
96
HCA Healthcare
HCA
$89.4B
| $56M | 0.18% |
119,938
-5,152
| -4% | -$2.39M |
|
97
Progressive
PGR
$122B
| $55.9M | 0.18% |
245,541
-17,937
| -7% | -$4.05M |
|
98
Welltower
WELL
$169B
| $53.5M | 0.17% |
288,112
-12,775
| -4% | -$2.39M |
|
99
CrowdStrike
CRWD
$228B
| $53.3M | 0.17% |
455,136
+15,872
| +4% | +$2.02M |
|
100
Ameriprise Financial
AMP
$49.7B
| $53.1M | 0.17% |
108,384
+2,961
| +3% | +$1.41M |
|
Similar funds
GAM
Treasurer of the State of North Carolina's Q4 2025 Portfolio in Review
As of Q4 2025, Treasurer of the State of North Carolina held 1,016 positions worth $31.2B, down 3.9% from $32.5B the previous quarter. Its ten largest holdings account for 34% of the portfolio.
Treasurer of the State of North Carolina withdrew a net $1.92B in Q4 2025, closing 6 positions and reducing 912 holdings. Its most notable exit was Kellanova, an estimated $10.2M position sold in full.
By sector, the portfolio is most concentrated in Technology at 33% of assets, down from 34% a quarter earlier, followed by Financials and Consumer Discretionary.
Against the trend, Treasurer of the State of North Carolina opened a new position in Qnity Electronics Inc worth $7.16M.
- Treasurer of the State of North Carolina's largest Q4 2025 buy was Qnity Electronics Inc: 87,692 shares worth $7.16M.
- Treasurer of the State of North Carolina added most to Bank of America in Q4 2025, an estimated $33.2M increase.
- Treasurer of the State of North Carolina's biggest Q4 2025 reduction was Apple, cutting an estimated $140M.
- Treasurer of the State of North Carolina fully exited Kellanova in Q4 2025, selling an estimated $10.2M.
- Treasurer of the State of North Carolina's ten largest holdings make up 34% of its $31.2B portfolio in Q4 2025.
- Treasurer of the State of North Carolina opened 6 new positions and closed 6 in Q4 2025.
- Treasurer of the State of North Carolina's portfolio value fell 3.9% quarter-over-quarter to $31.2B.
Based on Treasurer of the State of North Carolina's 13F filing for Q4 2025, filed 13 Feb 2026.