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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
+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
Cap. Flow
-$1.07B
Cap. Flow %
-3.3%
Top 10 Hldgs %
33.94%
Holding
1,020
New
5
Increased
84
Reduced
921
Closed
10

Top Buys

Rank Stock Value
1
JNJ icon
Johnson & Johnson
JNJ
+$37.7M
2
MCD icon
McDonald's
MCD
+$37.6M
3
GD icon
General Dynamics
GD
+$35.3M
4
ETR icon
Entergy
ETR
+$30.4M
5
SCHW
Charles Schwab
SCHW
+$26.6M

Top Sells

Rank Stock Value
1
NVDA icon
NVIDIA
NVDA
+$88.4M
2
AAPL icon
Apple
AAPL
+$84.6M
3
MSFT icon
Microsoft
MSFT
+$58.6M
4
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$33.3M
5
AVGO icon
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
LBRDA icon
1001
Liberty Broadband Class A
LBRDA
$5.19B
$471K ﹤0.01%
7,435
-290
-4% -$20.2K
CNA icon
1002
CNA Financial
CNA
$13.8B
$442K ﹤0.01%
9,520
-255
-3% -$11.8K
SEB icon
1003
Seaboard Corp
SEB
$4.08B
$430K ﹤0.01%
118
-5
-4% -$17.4K
UWMC icon
1004
UWM Holdings
UWMC
$2.5B
$430K ﹤0.01%
70,543
-2,743
-4% -$14.4K
UAA icon
1005
Under Armour
UAA
$2.31B
$424K ﹤0.01%
84,903
-3,303
-4% -$19.2K
CWEN.A
1006
DELISTED
Clearway Energy Class A
CWEN.A
$419K ﹤0.01%
15,569
-609
-4% -$17.4K
GLIBK
1007
Liberty Capital Corp Series C GCI Group Common Stock
GLIBK
$1.08B
$375K ﹤0.01%
+10,069
New +$355K
NIQ
1008
NIQ Global Intelligence PLC
NIQ
$5B
$336K ﹤0.01%
+21,404
New +$372K
TFSL icon
1009
TFS Financial
TFSL
$4.95B
$310K ﹤0.01%
23,559
-913
-4% -$12.1K
CAI
1010
Caris Life Sciences
CAI
$6.49B
$305K ﹤0.01%
+10,073
New +$321K
AMED
1011
DELISTED
Amedisys
AMED
– –
-15,059
Closed -$1.48M
ANSS
1012
DELISTED
Ansys
ANSS
– –
-40,947
Closed -$14.4M
AZEK
1013
DELISTED
The AZEK Co
AZEK
– –
-66,043
Closed -$3.59M
DNB
1014
DELISTED
Dun & Bradstreet
DNB
– –
-143,716
Closed -$1.31M
HES
1015
DELISTED
Hess
HES
– –
-132,009
Closed -$18.3M
JNPR
1016
DELISTED
Juniper Networks
JNPR
– –
-154,325
Closed -$6.16M
PARA
1017
DELISTED
Paramount Global Class B
PARA
– –
-278,131
Closed -$3.59M
SKX
1018
DELISTED
Skechers
SKX
– –
-61,010
Closed -$3.85M
UHAL icon
1019
U-Haul Holding Co
UHAL
$14.6B
– –
-3,589
Closed -$217K
WBA
1020
DELISTED
Walgreens Boots Alliance
WBA
– –
-333,759
Closed -$3.83M
37 38 39 40
41

Similar funds

Gates Foundation Trust
Gates Foundation Trust Kirkland, Washington $31.7B AUM 20.52% 1-Year Est. Return
Public Sector Pension Investment Board (PSP Investments)
Public Sector Pension Investment Board (PSP Investments) Montreal, Quebec, Canada $32.1B AUM 31.84% 1-Year Est. Return
Hotchkis & Wiley Capital Management
Hotchkis & Wiley Capital Management Los Angeles, California $32.4B AUM 17.21% 1-Year Est. Return
GAM
Gotham Asset Management New York $32.7B AUM 27.65% 1-Year Est. Return
Ohio Public Employees Retirement System (OPERS)
Ohio Public Employees Retirement System (OPERS) Columbus, Ohio $30.9B AUM 29.72% 1-Year Est. Return
Lord, Abbett & Co
Lord, Abbett & Co Jersey City, New Jersey $30.6B AUM 57.44% 1-Year Est. Return
BAMCO Inc
BAMCO Inc New York $33.1B AUM 11.16% 1-Year Est. Return
Eagle Capital Management (New York)
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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.