Treasurer of the State of North Carolina

CIK 1761054 · View on SEC EDGAR ↗

Portfolio value
$38.8M
#8,798 of 9,443 by 13F value · top 93.2%
Positions
1,096
As of
June 30, 2026

Portfolio value QoQ: +22.1% 13F does not disclose cash

Top 10 holdings weight
32.04%
Top 25 holdings weight
45.79%
Positions above 1%
14
Effective number of positions
69.6

Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)

Turnover Q2 2026: 4.05% Est. buys $3,843,860 · sells $1,431,089

Median holding: 7.0 quarters Tracked Q4 2024–Q2 2026 · 90.3% still held

New positions
137
Increased
406
Decreased
545
Closed
47
On this page

Sector breakdown

Technology
30.0%
Industrials
10.9%
Healthcare
8.1%
Communication Services
7.7%
Retail
6.0%
Financial Services
5.2%
Financials
4.4%
Consumer Discretionary
3.6%
Energy
3.0%
Utilities
2.6%
Real Estate
2.0%
Consumer Staples
1.6%
Materials
1.5%
Communications
1.4%
Consumer products
1.1%
Telecommunication
0.5%
Logistics & Transportation
0.2%
Packaging
0.2%
Diversified Consumer Services
0.1%
Paper & Forest
0.0%
Other/Unmapped
10.0%

Full portfolio 1,096 positions

Type Streak 8Q trend
NVDA NVIDIA Corporation - Common Stock $2,161,687 5.57% 10,803,573 $244,135 Down ×1
AAPL Apple Inc. - Common Stock $1,960,457 5.05% 6,775,147 $239,476 Down ×1
IWM $1,781,136 4.59% 5,928,226 $314,649 Up ×5
MSFT Microsoft Corporation - Common Stock $1,363,806 3.51% 3,656,121 $56,423 Up ×2
AMZN Amazon.com, Inc. - Common Stock $1,155,364 2.98% 4,847,545 $153,291 Up ×2
GOOGL Alphabet Inc. - Class A Common Stock $991,860 2.56% 2,775,443 $185,035 Down ×1
AVGO Broadcom Inc. - Common Stock $903,805 2.33% 2,392,600 $162,835 Down ×1
GOOG Alphabet Inc. - Class C Capital Stock $789,542 2.03% 2,234,573 $141,217 Down ×1
MU Micron Technology, Inc. - Common Stock $674,572 1.74% 584,404 $449,595 Down ×1
META Meta Platforms, Inc. - Class A Common Stock $654,133 1.69% 1,161,273 $-1,947 Up ×2
TSLA Tesla, Inc. - Common Stock $611,048 1.57% 1,452,800 $84,486 Up ×2
LLY Eli Lilly and Company Common Stock $472,094 1.22% 393,599 $105,327 Down ×1
AMD Advanced Micro Devices, Inc. - Common Stock $402,498 1.04% 692,875 $262,238 Up ×2
BRKB $396,938 1.02% 793,258 $18,539 Up ×2
JPM JP Morgan Chase & Co. Common Stock $372,814 0.96% 1,138,956 $30,689 Down ×1
JNJ Johnson & Johnson Common Stock $366,304 0.94% 1,442,314 $13,659 Down ×1
VRP $349,550 0.90% 14,378,855 Up ×1
LRCX Lam Research Corporation - Common Stock $338,375 0.87% 780,871 $140,045 Down ×1
AMAT Applied Materials, Inc. - Common Stock $331,249 0.85% 458,159 $158,064 Down ×1
CSCO Cisco Systems, Inc. - Common Stock $316,631 0.82% 2,695,652 $106,504 Down ×1
INTC Intel Corporation - Common Stock $313,461 0.81% 2,244,943 $212,421 Down ×1
V Visa Inc. $304,536 0.78% 887,627 $8,599 Down ×1
KLAC KLA Corporation - Common Stock $274,324 0.71% 909,230 $113,047 Up ×2
XOM Exxon Mobil Corporation Common Stock $242,369 0.62% 1,772,742 $-64,506 Down ×1
PG Procter & Gamble Company (The) Common Stock $240,728 0.62% 1,641,626 $2,626 Down ×1
BAC Bank of America Corporation Common Stock $213,714 0.55% 3,750,692 $29,390 Down ×1
CAT Caterpillar, Inc. Common Stock $212,313 0.55% 199,374 $71,869 Up ×2
WMT Walmart Inc. - Common Stock $211,769 0.55% 1,869,761 $-19,724 Up ×2
ABBV AbbVie Inc. Common Stock $189,781 0.49% 754,175 $18,840 Down ×1
TXN Texas Instruments Incorporated - Common Stock $183,732 0.47% 616,404 $72,319 Up ×2
COST Costco Wholesale Corporation - Common Stock $176,841 0.46% 189,040 $-12,511 Down ×1
MA Mastercard Incorporated Common Stock $176,727 0.46% 344,094 $-39,816 Down ×1
MRK Merck & Company, Inc. Common Stock (new) $170,410 0.44% 1,326,149 $32,318 Up ×2
PFXF $166,825 0.43% 9,351,150 Up ×1
SNDK Sandisk Corporation - Common Stock $165,143 0.43% 72,631 $117,815 Down ×1
GE GE Aerospace Common Stock $164,431 0.42% 439,973 $34,481 Down ×1
UNH UnitedHealth Group Incorporated Common Stock (DE) $159,868 0.41% 384,640 $32,995 Down ×1
IFRA $158,906 0.41% 2,520,711 Up ×1
MLPX $157,588 0.41% 2,139,399 Up ×1
NFLX Netflix, Inc. - Common Stock $152,413 0.39% 2,134,636 $-56,813 Down ×1
HD Home Depot, Inc. (The) Common Stock $149,855 0.39% 424,903 $9,658 Down ×1
GEV GE Vernova Inc. Common Stock $146,264 0.38% 124,495 $45,368 Up ×2
IBM International Business Machines Corporation Common Stock $146,101 0.38% 519,545 $9,108 Down ×1
ADI Analog Devices, Inc. - Common Stock $145,773 0.38% 367,029 $29,267 Up ×2
ORCL Oracle Corporation Common Stock $145,416 0.37% 992,264 $1,151 Up ×2
PLTR Palantir Technologies Inc. - Class A Common Stock $135,869 0.35% 1,164,554 $-32,264 Up ×2
KO Coca-Cola Company (The) Common Stock $134,550 0.35% 1,655,588 $7,931 Down ×1
CVX Chevron Corporation Common Stock $131,001 0.34% 790,306 $-34,953 Down ×1
APH Amphenol Corporation Common Stock $127,368 0.33% 722,366 $61,363 Up ×2
QCOM QUALCOMM Incorporated - Common Stock $126,035 0.32% 682,042 $28,344 Down ×1
GS Goldman Sachs Group, Inc. (The) Common Stock $124,229 0.32% 122,832 $17,802 Down ×1
PM Philip Morris International Inc Common Stock $120,176 0.31% 664,288 $948 Down ×1
PANW Palo Alto Networks, Inc. - Common Stock $117,138 0.30% 343,493 $47,649 Down ×1
AXP American Express Company Common Stock $114,951 0.30% 339,839 $16,630 Up ×2
MCD McDonald's Corporation Common Stock $112,714 0.29% 416,981 $-7,146 Up ×2
ANET Arista Networks, Inc. Common Stock $111,002 0.29% 653,412 $42,962 Up ×3
MRVL Marvell Technology, Inc. - Common Stock $110,683 0.29% 371,557 $74,786 Up ×2
WDC Western Digital Corporation - Common Stock $109,205 0.28% 170,974 $59,734 Down ×1
RTX RTX Corporation Common Stock $109,016 0.28% 574,583 $-1,476 Up ×2
WFC Wells Fargo & Company Common Stock $107,836 0.28% 1,304,887 $2,281 Down ×1
GD General Dynamics Corporation Common Stock $105,134 0.27% 296,787 $5,807 Up ×5
DIS Walt Disney Company (The) Common Stock $104,166 0.27% 1,082,241 $-339 Down ×1
POWR $104,162 0.27% 3,725,393 Up ×1
DUK Duke Energy Corporation (Holding Company) Common Stock $102,554 0.26% 810,189 $20,558 Up ×3
LIN Linde plc - Ordinary Shares $101,930 0.26% 196,419 $2,258 Down ×1
C Citigroup, Inc. Common Stock $101,571 0.26% 725,714 $17,415 Down ×5
VGLT Vanguard Long-Term Treasury ETF $100,601 0.26% 1,823,145 Up ×1
MS Morgan Stanley Common Stock $99,796 0.26% 477,403 $19,862 Down ×1
TMO Thermo Fisher Scientific Inc Common Stock $99,414 0.26% 198,288 $3,989 Up ×3
GILD Gilead Sciences, Inc. - Common Stock $97,454 0.25% 771,363 $-10,324 Down ×1
SCHW Charles Schwab Corporation (The) Common Stock $96,199 0.25% 1,042,577 $29,005 Up ×1
NEE NextEra Energy, Inc. Common Stock $92,833 0.24% 1,057,682 $9,875 Up ×2
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF $89,491 0.23% 2,946,685 Up ×1
GLW Corning Incorporated Common Stock $86,023 0.22% 336,777 $40,574 Up ×2
CMI Cummins Inc. Common Stock $84,243 0.22% 118,118 $20,914 Up ×6
COF Capital One Financial Corporation Common Stock $83,517 0.22% 416,293 $11,037 Up ×3
AMGN Amgen Inc. - Common Stock $83,258 0.21% 229,917 $2,235 Down ×1
CRM Salesforce, Inc. Common Stock $82,252 0.21% 525,036 $2,565 Up ×3
CRWD CrowdStrike Holdings, Inc. - Class A Common Stock $81,574 0.21% 106,892 $35,842 Down ×1
COP ConocoPhillips Common Stock $81,482 0.21% 783,781 $-6,189 Up ×2
ETN Eaton Corporation, PLC Ordinary Shares $81,236 0.21% 190,640 $21,226 Up ×2
PEP PepsiCo, Inc. - Common Stock $78,721 0.20% 581,395 $-12,384 Down ×1
SPG Simon Property Group, Inc. Common Stock $78,330 0.20% 350,233 $12,859 Down ×1
EXI $77,960 0.20% 388,830 Up ×1
MDT Medtronic plc. Ordinary Shares $77,859 0.20% 995,253 $-8,282 Up ×2
AME AMETEK, Inc. $76,780 0.20% 317,353 $18,353 Up ×2
UNP Union Pacific Corporation Common Stock $76,063 0.20% 279,644 $13,942 Up ×2
VZ Verizon Communications Inc. Common Stock $75,512 0.19% 1,783,466 $-15,259 Down ×1
ETR Entergy Corporation Common Stock $73,720 0.19% 641,821 $-22,339 Down ×1
TJX TJX Companies, Inc. (The) Common Stock $71,397 0.18% 471,265 $-5,079 Down ×1
DE Deere & Company Common Stock $70,174 0.18% 110,627 $11,251 Up ×2
BA Boeing Company (The) Common Stock $70,093 0.18% 323,799 $5,709 Up ×2
ADP Automatic Data Processing, Inc. - Common Stock $68,715 0.18% 306,832 $6,225 Down ×1
WELL Welltower Inc. Common Stock $68,359 0.18% 301,179 $10,155 Up ×2
AEE Ameren Corporation Common Stock $67,837 0.17% 600,117 $52,562 Up ×3
ABT Abbott Laboratories Common Stock $66,979 0.17% 738,139 $-27,391 Down ×1
APP Applovin Corporation - Class A Common Stock $66,763 0.17% 129,579 $15,784 Up ×2
URI United Rentals, Inc. Common Stock $66,191 0.17% 58,427 $26,796 Up ×2
KEYS Keysight Technologies Inc. Common Stock $66,021 0.17% 188,593 $45,221 Up ×2
FCX Freeport-McMoRan, Inc. Common Stock $64,449 0.17% 1,024,794 $-201 Down ×1

Conviction holdings

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

Security Value % of portfolio Streak
IWM $1,781,136 4.59% up ×5
ANET $111,002 0.29% up ×3
GD $105,134 0.27% up ×5
DUK $102,554 0.26% up ×3
TMO $99,414 0.26% up ×3
CMI $84,243 0.22% up ×6
COF $83,517 0.22% up ×3
CRM $82,252 0.21% up ×3
AEE $67,837 0.17% up ×3
ROST $59,911 0.15% up ×3
CRH $58,670 0.15% up ×3
SNPS $56,647 0.15% up ×6
AMP $53,323 0.14% up ×3
EOG $50,570 0.13% up ×3
ACN $42,833 0.11% up ×3

Biggest new bets

New positions opened this quarter, largest first.

Security Value Shares % of portfolio
VRP $349,550 14,378,855 0.90%
PFXF $166,825 9,351,150 0.43%
IFRA $158,906 2,520,711 0.41%
MLPX $157,588 2,139,399 0.41%
POWR $104,162 3,725,393 0.27%
VGLT $100,601 1,823,145 0.26%
COMT $89,491 2,946,685 0.23%
EXI $77,960 388,830 0.20%
PAVE $53,284 904,346 0.14%
UTES $50,995 623,863 0.13%
GRID $49,764 259,526 0.13%
XOP $46,023 298,349 0.12%
Unknown issuer (CUSIP: 84615Q103) $38,507 225,370 0.10%
BE $34,608 114,330 0.09%
Unknown issuer (CUSIP: 438516205) $30,572 136,541 0.08%

Top movers (QoQ)

Security Action Shares Δ Value Δ
MU Trimmed -82K +$450K
IWM Bought more +15K +$315K
AMD Bought more +3K +$262K
NVDA Trimmed -192K +$244K
AAPL Trimmed -6K +$239K
INTC Trimmed -45K +$212K
GOOGL Trimmed -30K +$185K
AVGO Trimmed -1K +$163K
AMAT Trimmed -49K +$158K
AMZN Bought more +36K +$153K

Exited positions

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

SecurityQuarter Shares before Value before Price since exit
HON June 30, 2026 272,263 $61,540 -1.9%
DFS June 30, 2025 157,427 $26,873 No longer tracked
CCL June 30, 2026 811,943 $21,013 -10.1%
HES Sept. 30, 2025 132,009 $18,289 No longer tracked
CTRA June 30, 2026 465,262 $16,349 No longer tracked
ANSS Sept. 30, 2025 40,947 $14,381 No longer tracked
K Dec. 31, 2025 124,910 $10,245 No longer tracked
QGENXXXX March 31, 2026 197,810 $8,896 No longer tracked
DD June 30, 2026 179,203 $8,207 3.3%
EXAS March 31, 2026 78,041 $7,926 No longer tracked
HOLX June 30, 2026 95,498 $7,219 No longer tracked
ITCI June 30, 2025 47,100 $6,213 No longer tracked
JNPR Sept. 30, 2025 154,325 $6,162 No longer tracked
COOP Dec. 31, 2025 28,213 $5,947 No longer tracked
CMA March 31, 2026 53,487 $4,650 No longer tracked
IPG Dec. 31, 2025 165,822 $4,628 No longer tracked
DAY March 31, 2026 64,608 $4,468 No longer tracked
SSBXXXX Sept. 30, 2025 46,850 $4,312 No longer tracked
X June 30, 2025 101,945 $4,308 No longer tracked
BERY June 30, 2025 59,894 $4,181 No longer tracked
YUMC March 31, 2025 86,179 $4,151 -5.7%
FYBR March 31, 2026 102,224 $3,892 No longer tracked
SKX Sept. 30, 2025 61,010 $3,850 No longer tracked
WBA Sept. 30, 2025 333,759 $3,832 No longer tracked
CFLT March 31, 2026 121,010 $3,659 No longer tracked
AZEK Sept. 30, 2025 66,043 $3,589 No longer tracked
PARA Sept. 30, 2025 278,131 $3,588
TDC June 30, 2026 136,621 $3,502 -20.8%
MASI June 30, 2026 19,294 $3,432 No longer tracked
SMAR March 31, 2025 59,592 $3,339 No longer tracked
LNWO Dec. 31, 2025 37,211 $3,123 No longer tracked
AZPN March 31, 2025 11,824 $2,952 No longer tracked
SNV March 31, 2026 58,099 $2,908 No longer tracked
AL June 30, 2026 44,587 $2,895 No longer tracked
INSM March 31, 2025 41,770 $2,884 64.4%
SEE June 30, 2026 62,428 $2,625 No longer tracked
LLYVKXXXX Dec. 31, 2025 24,790 $2,404 No longer tracked
VNOMXXXX Sept. 30, 2025 61,304 $2,338 No longer tracked
HCP March 31, 2025 63,854 $2,184 No longer tracked
SNAP March 31, 2025 200,629 $2,161 -39.5%
SPR Dec. 31, 2025 52,514 $2,027 No longer tracked
APLS June 30, 2026 46,153 $1,857 No longer tracked
AMED Sept. 30, 2025 15,059 $1,482 No longer tracked
DNB Sept. 30, 2025 143,716 $1,306 No longer tracked
LCIDXXXX Sept. 30, 2025 580,287 $1,224 No longer tracked
CWENA June 30, 2026 30,849 $1,208 No longer tracked
INFA Dec. 31, 2025 47,659 $1,184 No longer tracked
JWN June 30, 2025 46,274 $1,131 No longer tracked
ASH June 30, 2026 19,401 $1,079 11.4%
AAP June 30, 2025 27,231 $1,068 -6.8%
QDEL June 30, 2025 30,206 $1,056 -50.1%
CIVI March 31, 2026 38,663 $1,047 No longer tracked
SFM March 31, 2025 8,160 $1,037 -47.7%
CPRI June 30, 2025 52,450 $1,035 -21.4%
VAC June 30, 2025 15,923 $1,023 52.7%
MELI March 31, 2025 599 $1,019 -0.7%
HIW June 30, 2026 46,260 $990 4.1%
XRAY June 30, 2026 85,246 $989 2.3%
ENOV June 30, 2025 25,797 $986 -16.4%
HOG June 30, 2026 47,711 $965 15.5%
PII June 30, 2025 23,569 $965 61.4%
HUN June 30, 2026 70,354 $936 -4.0%
CC June 30, 2025 68,213 $923 39.3%
FIVN June 30, 2025 33,937 $921 18.9%
SRPT June 30, 2026 42,340 $921 8.8%
FMC June 30, 2026 53,117 $915 -4.8%
RH June 30, 2026 6,536 $914 -5.2%
ACHC June 30, 2026 38,953 $911 -9.3%
DXC June 30, 2026 72,020 $905 20.5%
SPB June 30, 2025 12,094 $865 63.0%
GLOB June 30, 2026 18,483 $852 35.7%
CXT June 30, 2026 20,961 $851 -1.7%
PYCR June 30, 2025 37,875 $850 No longer tracked
PENN June 30, 2026 56,244 $845 -13.6%
PINC June 30, 2025 43,693 $842 No longer tracked
PK June 30, 2026 79,267 $835 11.4%
RARE June 30, 2026 39,466 $827 -21.8%
BRBR June 30, 2026 50,156 $807 -20.6%
SAM June 30, 2026 3,307 $762 4.5%
KMPR June 30, 2026 24,884 $760 -0.2%
NCNO June 30, 2026 47,528 $712 23.0%
TRIP June 30, 2025 49,371 $700 -23.7%
CRI June 30, 2025 16,239 $664 22.4%
GTM June 30, 2026 111,049 $664 32.3%
FLO June 30, 2026 79,924 $651 -9.5%
DJT June 30, 2026 68,664 $637 13.7%
AZTA June 30, 2025 18,264 $633 17.9%
INSP June 30, 2026 12,263 $633 36.1%
PRGO June 30, 2026 58,314 $626 32.9%
NWL June 30, 2026 178,460 $612 -5.2%
GO June 30, 2025 43,410 $607 -8.6%
DV June 30, 2026 61,285 $582 22.6%
MAN June 30, 2026 19,715 $581 79.5%
LCID June 30, 2026 56,546 $539 -16.4%
VSTS June 30, 2025 52,216 $517 121.6%
GLIBK June 30, 2026 13,807 $514 20.6%
CNXC June 30, 2026 18,714 $512 13.2%
TEL March 31, 2025 3,530 $505 43.5%
LEG June 30, 2025 60,842 $481 5.6%
UAA June 30, 2026 80,843 $478 -16.7%
WEN June 30, 2026 68,520 $476 6.0%
UA June 30, 2026 78,040 $452 -16.8%
TXG June 30, 2025 48,225 $421 438.1%
KSS June 30, 2025 50,541 $413 107.8%
CLVT June 30, 2026 157,170 $398 -4.9%
NFE June 30, 2025 38,816 $323 -91.1%
FG March 31, 2026 10,311 $318 -8.5%
GRAL June 30, 2025 12,149 $310 49.8%
FTRE June 30, 2025 40,928 $309 263.6%
COTY June 30, 2026 147,800 $297 25.9%
CERT June 30, 2026 51,189 $292 31.2%
UHAL Sept. 30, 2025 3,589 $217 26.0%
WOLF June 30, 2025 70,429 $216
STX March 31, 2025 2,485 $214 911.1%
PLTK June 30, 2025 32,188 $166 -50.2%
CMCT June 30, 2025 79,689 $20 -35.8%