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 | |
|---|---|---|---|---|---|---|
|
SFD
1001
Smithfield Foods
SFD
$9.03B
| $423K | ﹤0.01% |
18,923
-1,385
| -7% | -$30.5K |
|
1002
Under Armour
UAA
$2.31B
| $393K | ﹤0.01% |
79,118
-5,785
| -7% | -$26.8K |
|
1003
Under Armour Class C
UA
$2.26B
| $376K | ﹤0.01% |
78,259
-93,789
| -55% | -$417K |
|
1004
Lennar Class B
LEN.B
$20.6B
| $375K | ﹤0.01% |
3,946
-339
| -8% | -$38.4K |
|
|
NIQ
1005
NIQ Global Intelligence PLC
NIQ
$4.99B
| $329K | ﹤0.01% |
19,940
-1,464
| -7% | -$21.4K |
|
1006
F&G Annuities & Life
FG
$3.59B
| $318K | ﹤0.01% |
+10,311
| New | +$323K |
|
1007
UWM Holdings
UWMC
$2.53B
| $314K | ﹤0.01% |
71,584
+1,041
| +1% | +$5.6K |
|
1008
TFS Financial
TFSL
$4.95B
| $294K | ﹤0.01% |
21,950
-1,609
| -7% | -$22K |
|
|
CAI
1009
Caris Life Sciences
CAI
$6.43B
| $256K | ﹤0.01% |
9,496
-577
| -6% | -$16.3K |
|
|
FRMI
1010
Fermi Inc
FRMI
$4.33B
| $120K | ﹤0.01% |
+15,010
| New | +$293K |
|
|
COOP
1011
DELISTED
Mr. Cooper
COOP
| – | – |
-28,213
| Closed | -$5.95M |
|
|
INFA
1012
DELISTED
Informatica
INFA
| – | – |
-47,659
| Closed | -$1.18M |
|
|
IPG
1013
DELISTED
Interpublic Group of Companies
IPG
| – | – |
-165,822
| Closed | -$4.63M |
|
|
K
1014
DELISTED
Kellanova
K
| – | – |
-124,910
| Closed | -$10.2M |
|
|
LNW
1015
DELISTED
Light & Wonder
LNW
| – | – |
-37,211
| Closed | -$3.12M |
|
|
SPR
1016
DELISTED
Spirit AeroSystems
SPR
| – | – |
-52,514
| Closed | -$2.03M |
|
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.