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Treasurer of the State of North Carolina Portfolio Analytics

Investment Analysis & Holdings Breakdown

Comprehensive portfolio analytics for Treasurer of the State of North Carolina with $32.5B in long positions as of Q3 2025, 34% allocated to Technology, and 34% concentrated in top 10 positions.

Portfolio Value
$32.5B
Top 10 Concentration
34%
Top Sector
Technology (34%)
US Exposure
97%
Market Cap Focus
Mega Cap
Countries
15

Composition Analysis

Portfolio breakdown by sector, industry, and market capitalization

Sector Allocation

Technology: 33.90%TechnologyFinancial Services: 12.80%Financial ServicesConsumer Cyclical: 10.60%Consumer CyclicalCommunication Services: 9.60%Communication ServicesHealthcare: 8.80%HealthcareIndustrials: 8.50%IndustrialsConsumer Defensive: 4.60%Energy: 2.70%Utilities: 2.60%Real Estate: 2.30%Basic Materials: 1.80%ETF: 1.60%
Technology
33.90%
Financial Services
12.80%
Consumer Cyclical
10.60%
Communication Services
9.60%
Healthcare
8.80%
Industrials
8.50%
Consumer Defensive
4.60%
Energy
2.70%
Utilities
2.60%
Real Estate
2.30%
Basic Materials
1.80%
ETF
1.60%

Industry Breakdown

128 industries across all sectors

Semiconductors: 12.57%SemiconductorsSoftware - Infrastructure: 9.29%Software - InfrastructureInternet Content & Information: 7.05%Consumer Electronics: 5.64%Specialty Retail: 4.33%Drug Manufacturers - General: 3.52%Software - Application: 2.93%Financial - Credit Services: 2.70%Banks - Diversified: 2.42%Auto - Manufacturers: 2.19%Aerospace & Defense: 1.94%Regulated Electric: 1.86%Industrial - Machinery: 1.75%Insurance - Diversified: 1.57%ETF: 1.56%Entertainment: 1.55%Discount Stores: 1.37%Asset Management: 1.33%Financial - Capital Markets: 1.30%Medical - Devices: 1.29%Information Technology Services: 1.13%Oil & Gas Integrated: 1.10%Household & Personal Products: 1.07%Telecommunications Services: 0.99%Medical - Diagnostics & Research: 0.93%Medical - Healthcare Plans: 0.93%Banks - Regional: 0.93%Communication Equipment: 0.89%Financial - Data & Stock Exchanges: 0.85%Restaurants: 0.83%Chemicals - Specialty: 0.83%Home Improvement: 0.76%96 more: 20.33%96 more
Semiconductors
Technology
12.57%
Software - Infrastructure
Technology
9.29%
Internet Content & Information
Communication Services
7.05%
Consumer Electronics
Technology
5.64%
Specialty Retail
Consumer Cyclical
4.33%
Drug Manufacturers - General
Healthcare
3.52%
Software - Application
Technology
2.93%
Financial - Credit Services
Financial Services
2.70%
Banks - Diversified
Financial Services
2.42%
Auto - Manufacturers
Consumer Cyclical
2.19%
Aerospace & Defense
Industrials
1.94%
Regulated Electric
Utilities
1.86%

Filter by Sector

Select a sector to filter industries

Market Cap Distribution

Mega Cap (> $200B): 53.76%Mega Cap (> $200B)Large Cap ($10B - $200B): 40.97%Large Cap ($10B - $200B)Mid Cap ($2B - $10B): 3.38%Small Cap ($300M - $2B): 0.02%Nano Cap (< $50M): 0.31%N/A (ETF or Unknown): 1.56%
Mega Cap (> $200B)
53.76%
Large Cap ($10B - $200B)
40.97%
Mid Cap ($2B - $10B)
3.38%
Small Cap ($300M - $2B)
0.02%
Nano Cap (< $50M)
0.31%
N/A (ETF or Unknown)
1.56%

Portfolio Concentration

Top 10 Holdings %
33.96%
Top 20 Holdings %
43.14%
Top 50 Holdings %
56.02%
Top 100 Holdings %
67.66%

Geographic Exposure

Portfolio breakdown by country of incorporation

Domestic (US)
96.77%
International
3.23%
Countries
15
Largest Int'l Market
Ireland - 1.37%
United States of America
96.77% ($31.4B)
957 holdings
Ireland
1.37% ($444.1M)
13 holdings
United Kingdom
0.63% ($203.0M)
13 holdings
Bermuda
0.25% ($80.0M)
9 holdings
Switzerland
0.24% ($77.9M)
4 holdings
Canada
0.17% ($56.5M)
4 holdings
Luxembourg
0.16% ($52.1M)
3 holdings
Singapore
0.11% ($36.4M)
1 holdings
Brazil
0.10% ($33.0M)
2 holdings
South Africa
0.07% ($22.8M)
1 holdings
Korea (the Republic of)
0.06% ($18.0M)
1 holdings
Australia
0.04% ($11.6M)
1 holdings

Holding Behavior

Investment patterns and position management analysis

Portfolio Stability & Commitment

Avg. Top 10
28 quarters
Avg. Top 20
29.1 quarters
Avg. All Positions
24.6 quarters
Median Holding Period
30 quarters
Persistence Rate
94.57%
Persistent Holdings Weight
97.6%
Persistent Positions
957
Longest Held
Ross Stores Inc logo
Ross Stores IncROST - 31 quarters

Position Sizing & Influence

Current Quarter

Avg. New Position
0.007%
Avg. Position Weight
0.10%
Largest Position
Nvidia Corp logo
Nvidia CorpNVDA - 6.53%
Largest Ownership Stake
Affiliated Managers Group logo
Affiliated Managers GroupAMG - 0.34%
Avg. Ownership Stake
0.05%
Ownership Stake >5%
0
Ownership Stake >1%
0

Historical (Since Q4 2017)

Avg. New Position
0.12%
Avg. Ownership Stake
0.19%
Largest Position
Creative Media & Community Trust Corporation Common stock logo
Creative Media & Community Trust Corporation Common stockCMCT - 15.96% (Q4 2020)
Largest Ownership Stake
Creative Media & Community Trust Corporation Common stock logo
Creative Media & Community Trust Corporation Common stockCMCT - 10.06% (Q2 2019)

Portfolio Turnover

Current Quarter

Turnover Ratio
3.5%
Value Traded
$1.15B
Positions Added
11
Positions Exited
12

Historical (Since Q4 2017)

Avg. Turnover Ratio
7.1%
Avg. Positions Added
46
Avg. Positions Exited
16
Highest Turnover
50.0%
Q4 2017
Lowest Turnover
0.6%
Q1 2021

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