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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
+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
(+24%)
Cap. Flow
+$3.08B
Cap. Flow
% of AUM
9.88%
Top 10 Holdings %
Top 10 Hldgs %
31.73%
Holding
1,045
New
38
Increased
790
Reduced
187
Closed
30
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$122M |
| 2 |
Amazon
AMZN
|
+$114M |
| 3 |
iShares Russell 2000 ETF
IWM
|
+$112M |
| 4 |
NVIDIA
NVDA
|
+$99.1M |
| 5 |
Microsoft
MSFT
|
+$96.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
DFS
Discover Financial Services
DFS
|
+$26.9M |
| 2 |
iShares Core S&P 500 ETF
IVV
|
+$17.9M |
| 3 |
Caterpillar
CAT
|
+$9.7M |
| 4 |
Emerson Electric
EMR
|
+$9.08M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
101
Altria Group
MO
$110B
| $53.8M | 0.17% |
917,347
+95,453
| +12% | +$5.61M |
|
102
Vertex Pharmaceuticals
VRTX
$133B
| $53.5M | 0.17% |
120,134
+1,759
| +1% | +$811K |
|
103
Strategy Inc
MSTR
$38.3B
| $52.3M | 0.17% |
129,344
+21,419
| +20% | +$7.8M |
|
104
Blackstone
BX
$110B
| $51.1M | 0.16% |
341,912
+11,577
| +4% | +$1.59M |
|
105
PayPal
PYPL
$51B
| $50.8M | 0.16% |
683,313
+207,975
| +44% | +$14.2M |
|
106
T-Mobile US
TMUS
$194B
| $50.5M | 0.16% |
212,141
-3,505
| -2% | -$856K |
|
|
MRSH
107
Marsh
MRSH
$89.6B
| $50.4M | 0.16% |
230,547
+4,818
| +2% | +$1.09M |
|
108
Chubb
CB
$132B
| $50.4M | 0.16% |
173,847
-11,384
| -6% | -$3.28M |
|
109
Arista Networks
ANET
$262B
| $49.3M | 0.16% |
481,903
-9,891
| -2% | -$856K |
|
110
Cigna
CI
$73.5B
| $49.2M | 0.16% |
148,840
+21,173
| +17% | +$6.83M |
|
111
Intercontinental Exchange
ICE
$86B
| $48.9M | 0.16% |
266,496
+6,373
| +2% | +$1.1M |
|
112
Applovin
APP
$105B
| $48.7M | 0.16% |
139,189
+9,380
| +7% | +$3.04M |
|
113
Starbucks
SBUX
$125B
| $48.7M | 0.16% |
531,326
+12,575
| +2% | +$1.09M |
|
114
Autodesk
ADSK
$51.9B
| $48.6M | 0.16% |
157,043
+39,718
| +34% | +$11.3M |
|
115
American Tower
AMT
$80.6B
| $48.3M | 0.15% |
218,511
+4,778
| +2% | +$1.03M |
|
116
Ametek
AME
$58.9B
| $48M | 0.15% |
265,054
+139,603
| +111% | +$24M |
|
117
Kroger
KR
$34.9B
| $47.7M | 0.15% |
664,777
+200,132
| +43% | +$13.8M |
|
118
HCA Healthcare
HCA
$88.1B
| $47.4M | 0.15% |
123,669
+24,166
| +24% | +$8.71M |
|
119
Cintas
CTAS
$80.9B
| $47.3M | 0.15% |
212,192
+35,781
| +20% | +$7.7M |
|
120
Southern Company
SO
$107B
| $47.3M | 0.15% |
514,736
+13,392
| +3% | +$1.2M |
|
121
Constellation Energy
CEG
$98.8B
| $47.2M | 0.15% |
146,312
+2,160
| +1% | +$572K |
|
122
Welltower
WELL
$169B
| $47M | 0.15% |
306,059
+23,940
| +8% | +$3.58M |
|
123
Robinhood
HOOD
$88.3B
| $47M | 0.15% |
501,777
+194,301
| +63% | +$11.5M |
|
124
Freeport-McMoran
FCX
$95.7B
| $46.4M | 0.15% |
1,069,594
+304,294
| +40% | +$11.6M |
|
125
Intel
INTC
$540B
| $45.7M | 0.15% |
2,041,434
+56,937
| +3% | +$1.18M |
|
Similar funds
GAM
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.