The North Carolina Investment Authority (NCIA) continues to reach unprecedented outcomes. That was the message at the NCIA quarterly board of trustees meeting today. NCIA recorded over $219 billion of assets under management as of June 2026, a number that continues a steady rise from its position of $190.5 billion in December 2024. Current projections indicate further growth is expected.
Of the total assets, the North Carolina Retirement Systems’ (NCRS) hit a milestone of $150 billion on August 18. Most of the increase over the past year was due to profits gained from various equity holdings. Outside the NCRS, there was about $45.6 billion in cash management assets such as Treasury bills, notes and other money market investments; $21.5 billion in the Supplemental Retirement Plans; and $3.3 billion in other categories.
“Establishing a new state agency is no small task,” said State Treasurer Brad Briner, who chairs the NCIA board. “The NCIA team is doing a great job building the necessary infrastructure while continuing to identify opportunities to improve pension fund returns.”
The Board reviewed the asset allocation, recent investment activity and performance for the NCRS. For the year-ended June 2026, the NCRS earned 12.41%, net of all fees and expenses, which was materially ahead of the 6.5% annual performance benchmark.
The Board also conducted in-depth reviews of two NCRS asset classes.
To see an exhibit of select recent investment transactions highlighted for the board click here.
About NCIA:
The North Carolina Investment Authority was created by the General Assembly under the 2025 State Investment Modernization Act. It is governed by a Board of Directors and chaired by the elected State Treasurer.