Treasurer of the State of North Carolina
Sector Allocation
- Technology40.7%$15.8B
- Financials11.6%$4.5B
- Consumer Discretionary8.4%$3.3B
- Healthcare8.0%$3.1B
- Industrials7.8%$3.0B
- Other7.6%$3.0B
- Consumer Staples4.0%$1.5B
- Energy3.1%$1.2B
- Utilities2.7%$1.0B
- Materials2.4%$928.3M
AUM History
13fpro.ai/research/fund/treasurer-of-the-state-of-north-carolina-1761054
Conviction and streaks
Diversifying · top 10 = 32.0%From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.
Largest positions — Q2 2026
NVDA
$2.2BAAPL
$2.0B- ISHARES$1.8B
MSFT
$1.4BAMZN
$1.2BGOOGL
$991.9MAVGO
$903.8MGOOG
$789.5MMU
$674.6MMETA
$654.1MTSLA
$611.0MLLY
$472.1MAMD
$402.5MBRK.B
$396.9MJPM
$372.8MJNJ
$366.3MIVZ
$349.6MLRCX
$338.4MAMAT
$331.2MCSCO
$316.6M
Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.
13fpro.ai/research/fund/treasurer-of-the-state-of-north-carolina-1761054
Treasurer of the State of North Carolina 13F holdings — Q2 2026
$38.8B portfolio (+22.1% QoQ) · 1,096 holdings · Q2 2026 13F · top 10 are 32% of the stock portfolio
$2.2B
5.6% of stocks
-2%This quarter-4.1%Since filed10+ qtrsHeld$2.0B
5.0% of stocks
-0.1%This quarter+12.4%Since filed10+ qtrsHeld- 3
ISHARES TR - RUSSELL 2000 ETF
$1.8B
4.6% of stocks
+0.3%This quarter—Since filed—HeldAIQuality—Est. buy— $1.4B
3.5% of stocks
+4%This quarter+7.5%Since filed10+ qtrsHeld$1.2B
3.0% of stocks
+0.8%This quarter-5.2%Since filed10+ qtrsHeld$991.9M
2.6% of stocks
-1%This quarter-8.5%Since filed10+ qtrsHeld$903.8M
2.3% of stocks
-0.1%This quarter-16.2%Since filed10+ qtrsHeld$789.5M
2.0% of stocks
-1%This quarter-8.5%Since filed10+ qtrsHeld$674.6M
1.7% of stocks
-12%This quarter-7.0%Since filed10+ qtrsHeld$654.1M
1.7% of stocks
+1%This quarter+6.9%Since filed10+ qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialAdded 2 qtrs in a row
All holdings — Treasurer of the State of North Carolina (Q2 2026)
1,096 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated. The page lists up to 1,000; every position is in the Excel export.
| # | Company | Held | Source | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | Tesla, Inc. | Consumer Discretionary | $611.0M | 1.6% | 1.45M | +3% | 10+ qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 12 | ELI LILLY & Co | Healthcare | $472.1M | 1.2% | 394K | -1% | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 13 | ADVANCED MICRO DEVICES INC | Technology | $402.5M | 1.0% | 693K | +0.5% | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 14 | BERKSHIRE HATHAWAY INC | Financials | $396.9M | 1.0% | 793K | +0.5% | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 15 | JPMORGAN CHASE & CO | Financials | $372.8M | 1.0% | 1.14M | -2% | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 16 | JOHNSON & JOHNSON | Healthcare | $366.3M | 0.9% | 1.44M | -0.0% | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 17 | Invesco Ltd.preferred | Financials | $349.6M | 0.9% | 14.38M | New | 10+ qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 18 | LAM RESEARCH CORP | Technology | $338.4M | 0.9% | 781K | -16% | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 19 | APPLIED MATERIALS INC /DE | Technology | $331.2M | 0.8% | 458K | -10% | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 20 | CISCO SYSTEMS, INC. | Technology | $316.6M | 0.8% | 2.70M | -0.5% | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 21 | INTEL CORP | Technology | $313.5M | 0.8% | 2.24M | -2% | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 22 | VISA INC. | Financials | $304.5M | 0.8% | 888K | -9% | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 23 | KLA CORP | Technology | $274.3M | 0.7% | 909K | +730% | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 24 | EXXON MOBIL CORP | Energy | $242.4M | 0.6% | 1.77M | -2% | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 25 | PROCTER & GAMBLE Co | Consumer Staples | $240.7M | 0.6% | 1.64M | -0.4% | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 26 | $BAC | BANK OF AMERICA CORP /DE/ | Financials | $213.7M | 0.6% | 3.75M | -0.8% | |||
| 27 | $CAT | CATERPILLAR INC | Industrials | $212.3M | 0.6% | 199K | +0.6% | |||
| 28 | $WMT | Walmart Inc. | Consumer Staples | $211.8M | 0.6% | 1.87M | +0.4% | |||
| 29 | $ABBV | AbbVie Inc. | Healthcare | $189.8M | 0.5% | 754K | -4% | |||
| 30 | $TXN | TEXAS INSTRUMENTS INC | Technology | $183.7M | 0.5% | 616K | +7% | |||
| 31 | $COST | COSTCO WHOLESALE CORP /NEW | Consumer Staples | $176.8M | 0.5% | 189K | -0.5% | |||
| 32 | $MA | Mastercard Inc | Financials | $176.7M | 0.5% | 344K | -21% | |||
| 33 | $MRK | Merck & Co., Inc. | Healthcare | $170.4M | 0.4% | 1.33M | +16% | |||
| 34 | — | VANECK ETF TRUST - PREFERRED SECURT | — | $166.8M | 0.4% | 9.35M | New | |||
| 35 | $SNDK | Sandisk Corp | Technology | $165.1M | 0.4% | 73K | -2% | |||
| 36 | $GE | GENERAL ELECTRIC CO | Industrials | $164.4M | 0.4% | 440K | -4% | |||
| 37 | $UNH | UNITEDHEALTH GROUP INC | Healthcare | $159.9M | 0.4% | 385K | -18% | |||
| 38 | — | ISHARES TR - US INFRASTRUC | — | $158.9M | 0.4% | 2.52M | New | |||
| 39 | — | GLOBAL X FDS - GLB X MLP ENRG I | — | $157.6M | 0.4% | 2.14M | New | |||
| 40 | $NFLX | NETFLIX INC | Communication Services | $152.4M | 0.4% | 2.13M | -2% | |||
| 41 | $HD | HOME DEPOT, INC. | Consumer Discretionary | $149.9M | 0.4% | 425K | -0.3% | |||
| 42 | $GEV | GE Vernova Inc. | Industrials | $146.3M | 0.4% | 124K | +8% | |||
| 43 | $IBM | INTERNATIONAL BUSINESS MACHINES CORP | Technology | $146.1M | 0.4% | 520K | -8% | |||
| 44 | $ADI | ANALOG DEVICES INC | Technology | $145.8M | 0.4% | 367K | +0.2% | |||
| 45 | $ORCL | ORACLE CORP | Technology | $145.4M | 0.4% | 992K | +1% | |||
| 46 | $PLTR | Palantir Technologies Inc. | Technology | $135.9M | 0.3% | 1.16M | +1% | |||
| 47 | $KO | COCA COLA CO | Consumer Staples | $134.6M | 0.3% | 1.66M | -0.6% | |||
| 48 | $CVX | CHEVRON CORP | Energy | $131.0M | 0.3% | 790K | -1% | |||
| 49 | $APH | AMPHENOL CORP /DE/ | Technology | $127.4M | 0.3% | 722K | +38% | |||
| 50 | $QCOM | QUALCOMM INC/DE | Technology | $126.0M | 0.3% | 682K | -10% | |||
| 51 | $GS | GOLDMAN SACHS GROUP INC | Financials | $124.2M | 0.3% | 123K | -2% | |||
| 52 | $PM | Philip Morris International Inc. | Consumer Staples | $120.2M | 0.3% | 664K | -8% | |||
| 53 | $PANW | Palo Alto Networks Inc | Technology | $117.1M | 0.3% | 343K | -21% | |||
| 54 | $AXP | AMERICAN EXPRESS CO | Financials | $115.0M | 0.3% | 340K | +5% | |||
| 55 | $MCD | MCDONALDS CORP | Consumer Discretionary | $112.7M | 0.3% | 417K | +8% | |||
| 56 | $ANET | Arista Networks, Inc. | Technology | $111.0M | 0.3% | 653K | +18% | |||
| 57 | $MRVL | Marvell Technology, Inc. | Technology | $110.7M | 0.3% | 372K | +3% | |||
| 58 | $WDC | WESTERN DIGITAL CORP | Technology | $109.2M | 0.3% | 171K | -7% | |||
| 59 | $RTX | RTX Corp | Industrials | $109.0M | 0.3% | 575K | +0.3% | |||
| 60 | $WFC | WELLS FARGO & COMPANY/MN | Financials | $107.8M | 0.3% | 1.30M | -2% | |||
| 61 | $GD | GENERAL DYNAMICS CORP | Industrials | $105.1M | 0.3% | 297K | +3% | |||
| 62 | $DIS | Walt Disney Co | Communication Services | $104.2M | 0.3% | 1.08M | -0.2% | |||
| 63 | — | ISHARES INC - US PWR INFRA ETF | — | $104.2M | 0.3% | 3.73M | New | |||
| 64 | $DUK | Duke Energy CORP | Utilities | $102.6M | 0.3% | 810K | +29% | |||
| 65 | $LIN | LINDE PLC | Materials | $101.9M | 0.3% | 196K | -2% | |||
| 66 | $C | CITIGROUP INC | Financials | $101.6M | 0.3% | 726K | -2% | |||
| 67 | — | VANGUARD SCOTTSDALE FDS - LONG TERM TREAS | — | $100.6M | 0.3% | 1.82M | New | |||
| 68 | $MS | MORGAN STANLEY | Financials | $99.8M | 0.3% | 477K | -2% | |||
| 69 | $TMO | THERMO FISHER SCIENTIFIC INC. | Healthcare | $99.4M | 0.3% | 198K | +2% | |||
| 70 | $GILD | GILEAD SCIENCES, INC. | Healthcare | $97.5M | 0.3% | 771K | -0.3% | |||
| 71 | $SCHW | SCHWAB CHARLES CORP | Financials | $96.2M | 0.3% | 1.04M | +46% | |||
| 72 | $NEE | NEXTERA ENERGY INC | Utilities | $92.8M | 0.2% | 1.06M | +18% | |||
| 73 | — | ISHARES U S ETF TR - GSCI CMDTY STGY | — | $89.5M | 0.2% | 2.95M | New | |||
| 74 | $GLW | CORNING INC /NY | Materials | $86.0M | 0.2% | 337K | +0.8% | |||
| 75 | $CMI | CUMMINS INC | Industrials | $84.2M | 0.2% | 118K | +0.3% | |||
| 76 | $COF | CAPITAL ONE FINANCIAL CORP | Financials | $83.5M | 0.2% | 416K | +5% | |||
| 77 | $AMGN | AMGEN INC | Healthcare | $83.3M | 0.2% | 230K | -0.2% | |||
| 78 | $CRM | Salesforce, Inc. | Technology | $82.3M | 0.2% | 525K | +23% | |||
| 79 | $CRWD | CrowdStrike Holdings, Inc. | Technology | $81.6M | 0.2% | 107K | -9% | |||
| 80 | $COP | CONOCOPHILLIPS | Energy | $81.5M | 0.2% | 784K | +18% | |||
| 81 | $ETN | Eaton Corp plc | Industrials | $81.2M | 0.2% | 191K | +14% | |||
| 82 | $PEP | PEPSICO INC | Consumer Staples | $78.7M | 0.2% | 581K | -0.9% | |||
| 83 | $SPG | SIMON PROPERTY GROUP INC. | Real Estate | $78.3M | 0.2% | 350K | -0.2% | |||
| 84 | — | ISHARES TR - GLOB INDSTRL ETF | — | $78.0M | 0.2% | 389K | New | |||
| 85 | $MDT | Medtronic plc | Healthcare | $77.9M | 0.2% | 995K | +0.1% | |||
| 86 | $AME | AMETEK INC/ | Industrials | $76.8M | 0.2% | 317K | +16% | |||
| 87 | $UNP | UNION PACIFIC CORP | Industrials | $76.1M | 0.2% | 280K | +9% | |||
| 88 | $VZ | VERIZON COMMUNICATIONS INC | Communication Services | $75.5M | 0.2% | 1.78M | -1% | |||
| 89 | $ETR | ENTERGY CORP /DE/ | Utilities | $73.7M | 0.2% | 642K | -25% | |||
| 90 | $TJX | TJX COMPANIES INC /DE/ | Consumer Discretionary | $71.4M | 0.2% | 471K | -2% | |||
| 91 | $DE | DEERE & CO | Industrials | $70.2M | 0.2% | 111K | +6% | |||
| 92 | $BA | BOEING CO | Industrials | $70.1M | 0.2% | 324K | +0.1% | |||
| 93 | $ADP | AUTOMATIC DATA PROCESSING INC | Technology | $68.7M | 0.2% | 307K | -0.2% | |||
| 94 | $WELL | WELLTOWER INC. | Real Estate | $68.4M | 0.2% | 301K | +2% | |||
| 95 | $AEE | AMEREN CORP | Utilities | $67.8M | 0.2% | 600K | +332% | |||
| 96 | $ABT | ABBOTT LABORATORIES | Healthcare | $67.0M | 0.2% | 738K | -20% | |||
| 97 | $APP | AppLovin Corp | Technology | $66.8M | 0.2% | 130K | +1% | |||
| 98 | $URI | UNITED RENTALS, INC. | Industrials | $66.2M | 0.2% | 58K | +8% | |||
| 99 | $KEYS | Keysight Technologies, Inc. | Technology | $66.0M | 0.2% | 189K | +156% | |||
| 100 | $FCX | FREEPORT-MCMORAN INC | Materials | $64.4M | 0.2% | 1.02M | -7% | |||
| 101 | $TDY | TELEDYNE TECHNOLOGIES INC | Technology | $64.2M | 0.2% | 96K | +383% | |||
| 102 | $ACGL | ARCH CAPITAL GROUP LTD. | Financials | $64.0M | 0.2% | 659K | +80% | |||
| 103 | $INTU | INTUIT INC. | Technology | $63.7M | 0.2% | 244K | +34% | |||
| 104 | $BLK | BlackRock, Inc. | Financials | $63.0M | 0.2% | 66K | -23% | |||
| 105 | $EVRG | Evergy, Inc. | Utilities | $62.4M | 0.2% | 722K | +3% | |||
| 106 | $DOV | DOVER Corp | Industrials | $60.4M | 0.2% | 269K | +364% | |||
| 107 | $UBER | Uber Technologies, Inc | Technology | $60.2M | 0.2% | 835K | -21% | |||
| 108 | $MO | ALTRIA GROUP, INC. | Consumer Staples | $60.1M | 0.1% | 836K | -3% | |||
| 109 | $PWR | QUANTA SERVICES, INC. | Industrials | $60.1M | 0.1% | 83K | +32% | |||
| 110 | $ROST | ROSS STORES, INC. | Consumer Discretionary | $59.9M | 0.1% | 281K | +41% | |||
| 111 | $T | AT&T INC. | Communication Services | $59.7M | 0.1% | 2.89M | -2% | |||
| 112 | $ISRG | INTUITIVE SURGICAL INC | Healthcare | $59.7M | 0.1% | 150K | -0.6% | |||
| 113 | $RCL | ROYAL CARIBBEAN CRUISES LTD | Industrials | $59.0M | 0.1% | 186K | -3% | |||
| 114 | $BKNG | Booking Holdings Inc. | Consumer Discretionary | $58.8M | 0.1% | 330K | +2174% | |||
| 115 | $CRH | CRH PUBLIC LTD CO | Materials | $58.7M | 0.1% | 548K | +50% | |||
| 116 | $PFE | PFIZER INC | Healthcare | $58.4M | 0.1% | 2.43M | -19% | |||
| 117 | $SNPS | SYNOPSYS INC | Technology | $56.6M | 0.1% | 127K | +28% | |||
| 118 | $CVS | CVS HEALTH Corp | Healthcare | $56.6M | 0.1% | 547K | +2% | |||
| 119 | $HCA | HCA Healthcare, Inc. | Healthcare | $56.5M | 0.1% | 145K | +14% | |||
| 120 | $SO | SOUTHERN CO | Utilities | $55.7M | 0.1% | 582K | +23% | |||
| 121 | $PH | Parker-Hannifin Corp | Industrials | $55.5M | 0.1% | 57K | +5% | |||
| 122 | $DELL | Dell Technologies Inc. | Technology | $55.3M | 0.1% | 128K | -26% | |||
| 123 | $VRT | Vertiv Holdings Co | Technology | $54.7M | 0.1% | 163K | +0.3% | |||
| 124 | $PGR | PROGRESSIVE CORP/OH/ | Financials | $54.4M | 0.1% | 249K | -0.8% | |||
| 125 | $NEM | NEWMONT Corp /DE/ | Materials | $53.9M | 0.1% | 577K | -2% | |||
| 126 | $VRTX | VERTEX PHARMACEUTICALS INC / MA | Healthcare | $53.8M | 0.1% | 108K | -0.3% | |||
| 127 | $PLD | Prologis, Inc. | Real Estate | $53.8M | 0.1% | 397K | -0.0% | |||
| 128 | $TGT | TARGET CORP | Consumer Staples | $53.4M | 0.1% | 409K | +56% | |||
| 129 | $AMP | AMERIPRISE FINANCIAL INC | Financials | $53.3M | 0.1% | 116K | +0.2% | |||
| 130 | — | GLOBAL X FDS - US INFR DEV ETF | — | $53.3M | 0.1% | 904K | New | |||
| 131 | $ORLY | O REILLY AUTOMOTIVE INC | Consumer Discretionary | $52.9M | 0.1% | 575K | +17% | |||
| 132 | $LOW | LOWES COMPANIES INC | Consumer Discretionary | $52.7M | 0.1% | 239K | -0.5% | |||
| 133 | $FAST | FASTENAL CO | Industrials | $52.0M | 0.1% | 1.08M | +76% | |||
| 134 | $FLEX | FLEX LTD. | Technology | $51.9M | 0.1% | 320K | -39% | |||
| 135 | $WMB | WILLIAMS COMPANIES, INC. | Energy | $51.5M | 0.1% | 693K | +33% | |||
| 136 | $SPGI | S&P Global Inc. | Financials | $51.3M | 0.1% | 126K | -3% | |||
| 137 | $DHR | DANAHER CORP /DE/ | Healthcare | $51.3M | 0.1% | 269K | -0.2% | |||
| 138 | $CB | Chubb Ltd | Financials | $51.1M | 0.1% | 150K | -4% | |||
| 139 | $IBKR | Interactive Brokers Group, Inc. | Financials | $51.0M | 0.1% | 586K | +13% | |||
| 140 | — | ETFIS SER TR I - VIRTUS REAVES UT | — | $51.0M | 0.1% | 624K | New | |||
| 141 | $EOG | EOG RESOURCES INC | Energy | $50.6M | 0.1% | 390K | +21% | |||
| 142 | $BMY | BRISTOL MYERS SQUIBB CO | Healthcare | $50.1M | 0.1% | 870K | -0.3% | |||
| 143 | $ADBE | ADOBE INC. | Technology | $50.1M | 0.1% | 244K | -1% | |||
| 144 | — | FIRST TR EXCHANGE-TRADED FD - NASDQ CLN EDGE | — | $49.8M | 0.1% | 260K | New | |||
| 145 | $TT | Trane Technologies plc | Technology | $49.8M | 0.1% | 101K | +6% | |||
| 146 | $SBUX | STARBUCKS CORP | Consumer Discretionary | $49.7M | 0.1% | 486K | -0.2% | |||
| 147 | $HWM | Howmet Aerospace Inc. | Materials | $48.6M | 0.1% | 181K | +5% | |||
| 148 | $SYK | STRYKER CORP | Healthcare | $46.4M | 0.1% | 147K | -0.0% | |||
| 149 | — | SPDR SERIES TRUST - SP O&G EXPL PRO | — | $46.0M | 0.1% | 298K | New | |||
| 150 | $CSX | CSX CORP | Industrials | $45.1M | 0.1% | 950K | +18% |
What changed in Q2 2026
Against the previous quarter's 13F: 132 new, 407 added to, 547 trimmed, 43 sold out. Share-count changes; largest moves by dollar size first.
New positions (132)
- VANECK ETF TRUST - PREFERRED SECURT$166.8M
first bought this quarter
- ISHARES TR - US INFRASTRUC$158.9M
first bought this quarter
- GLOBAL X FDS - GLB X MLP ENRG I$157.6M
first bought this quarter
- ISHARES INC - US PWR INFRA ETF$104.2M
first bought this quarter
- VANGUARD SCOTTSDALE FDS - LONG TERM TREAS$100.6M
first bought this quarter
- ISHARES U S ETF TR - GSCI CMDTY STGY$89.5M
first bought this quarter
+126 more in the Excel export
Added to (407)
$KLACKLA CORP+730%
now $274.3M · held 10+ qtrs
$BKNGBooking Holdings Inc.+2174%
now $58.8M · held 10+ qtrs
$AEEAMEREN CORP+332%
now $67.8M · held 10+ qtrs, 3 adds in a row
$TDYTELEDYNE TECHNOLOGIES INC+383%
now $64.2M · held 10+ qtrs, 2 adds in a row
$DOVDOVER Corp+364%
now $60.4M · held 10+ qtrs, 2 adds in a row
now $1.4B · held 10+ qtrs, 2 adds in a row
+401 more in the Excel export
Trimmed (547)
now $674.6M · held 10+ qtrs
now $338.4M · held 10+ qtrs
$MAMastercard Inc-21%
now $176.7M · held 10+ qtrs
- ISHARES TR - CORE S&P500 ETF-63%
now $23.8M
now $2.2B · held 10+ qtrs
now $331.2M · held 10+ qtrs
+541 more in the Excel export
Holdings by quarter
Every 13F Treasurer of the State of North Carolina has filed, 34 earlier quarters. Pick one to see what it held then.
Is it too late to follow Treasurer of the State of North Carolina?
Q2 2026 13F filed with the SEC on Aug 14, 2026. Prices are closing prices as of Oct 26, 2026.
Average quality of Treasurer of the State of North Carolina's top 20 holdings: 77/100 (our AI quality score, weighted by position size; 19 of the 20 are scored)
Top 10 since filing
-0.1%
Value-weighted move of the 10 largest stock positions
Turnover
4%
Last quarter; 8% over the last 4
Top 10 weight
32%
Share of the stock portfolio in its 10 largest positions
Held 4+ quarters
98%
Share of portfolio value in positions held a year or more
Highest-quality names it owns(among its 100 largest positions)
The 8 highest-scoring companies in this portfolio are a Pro feature.
How these are measured
- Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
- Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
- Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q1 2024 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
- Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
- Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.
Portfolio Overview
Treasurer of the State of North Carolina disclosed 1,096 positions worth $38.8B in its Form 13F-HR for Q2 2026, led by $NVDA (NVIDIA CORP) at 5.6% of the equity portfolio, followed by $AAPL. During the quarter the fund opened 132 new positions and exited 43 and a full exit from $CTRA. The portfolio is most concentrated in Technology (40.7% of disclosed assets). All figures are sourced directly from Treasurer of the State of North Carolina’s Form 13F-HR filing with the SEC under CIK 1761054.
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