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Treasurer of the State of North Carolina

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
-2.86%
1 Year Est. Return
+28.93%
3 Year Est. Return
+100.69%
5 Year Est. Return
+135.6%
10 Year Est. Return
–
AUM
$25.1B
AUM Growth
-$516M
Cap. Flow
+$759M
Cap. Flow %
3.02%
Top 10 Hldgs %
29.86%
Holding
1,017
New
4
Increased
825
Reduced
177
Closed
10

Top Buys

Rank Stock Value
1
IWM icon
iShares Russell 2000 ETF
IWM
+$316M
2
AAPL icon
Apple
AAPL
+$96.8M
3
MSFT icon
Microsoft
MSFT
+$47.1M
4
V icon
Visa
V
+$43.8M
5
AMZN icon
Amazon
AMZN
+$38.8M

Top Sells

Rank Stock Value
1
AXP icon
American Express
AXP
+$7.48M
2
GIS icon
General Mills
GIS
+$7.43M
3
DOX icon
Amdocs
DOX
+$7.39M
4
ALNY icon
Alnylam Pharmaceuticals
ALNY
+$7.19M
5
BMY icon
Bristol-Myers Squibb
BMY
+$7.09M

Sector Composition

Rank Sector Weight
1 Technology 29.39%
2 Financials 14.2%
3 Healthcare 10.94%
4 Consumer Discretionary 10.42%
5 Communication Services 9.11%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ED icon
251
Consolidated Edison
ED
$40.1B
$17.5M 0.07%
158,503
+6,190
+4% +$607K
EA
252
DELISTED
Electronic Arts
EA
$17.5M 0.07%
120,943
+1,630
+1% +$220K
EBAY icon
253
eBay
EBAY
$46.5B
$17.5M 0.07%
257,947
+12,919
+5% +$861K
AXON
254
Axon Enterprise
AXON
$49.9B
$17.5M 0.07%
33,202
+211
+0.6% +$123K
CTSH icon
255
Cognizant
CTSH
$26.9B
$17.4M 0.07%
227,791
+3,047
+1% +$248K
PCG icon
256
PG&E
PCG
$38.3B
$17.2M 0.07%
999,303
+59,120
+6% +$981K
PWR icon
257
Quanta Services
PWR
$101B
$16.9M 0.07%
66,472
+2,590
+4% +$748K
SYY icon
258
Sysco
SYY
$40.1B
$16.9M 0.07%
224,938
+3,035
+1% +$222K
DHI icon
259
D.R. Horton
DHI
$41.9B
$16.5M 0.07%
129,874
-1,780
-1% -$239K
TTWO icon
260
Take-Two Interactive
TTWO
$45.5B
$16.4M 0.07%
78,906
-13,638
-15% -$2.73M
VICI icon
261
VICI Properties
VICI
$29.1B
$16.3M 0.06%
498,240
+11,408
+2% +$351K
SYF icon
262
Synchrony
SYF
$26.1B
$16.2M 0.06%
306,902
-30,357
-9% -$1.88M
GLW icon
263
Corning
GLW
$136B
$16.1M 0.06%
350,780
+4,510
+1% +$223K
COIN icon
264
Coinbase
COIN
$40.5B
$16M 0.06%
92,726
+3,620
+4% +$876K
PNW icon
265
Pinnacle West Capital
PNW
$12.2B
$16M 0.06%
167,645
+114,837
+217% +$10.3M
ALNY icon
266
Alnylam Pharmaceuticals
ALNY
$30.3B
$15.9M 0.06%
58,955
-27,960
-32% -$7.19M
WEC icon
267
WEC Energy
WEC
$36B
$15.8M 0.06%
144,744
+5,650
+4% +$577K
NET icon
268
Cloudflare
NET
$118B
$15.7M 0.06%
139,356
+7,480
+6% +$992K
TEAM icon
269
Atlassian
TEAM
$42.2B
$15.7M 0.06%
73,952
+2,049
+3% +$541K
VEEV icon
270
Veeva Systems
VEEV
$40.8B
$15.6M 0.06%
67,498
+896
+1% +$205K
IDXX icon
271
Idexx Laboratories
IDXX
$44.4B
$15.6M 0.06%
37,195
+567
+2% +$246K
WTW icon
272
Willis Towers Watson
WTW
$31.1B
$15.6M 0.06%
46,088
+610
+1% +$199K
FERG icon
273
Ferguson
FERG
$47.9B
$15.5M 0.06%
96,631
+898
+0.9% +$156K
GRMN
274
Garmin
GRMN
$60.4B
$15.4M 0.06%
70,865
-4,705
-6% -$1.02M
OXY icon
275
Occidental Petroleum
OXY
$57.7B
$15.4M 0.06%
311,582
+12,160
+4% +$594K
9 10
11
12 13

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Treasurer of the State of North Carolina's Q1 2025 Portfolio in Review

As of Q1 2025, Treasurer of the State of North Carolina held 1,017 positions worth $25.1B, down 2% from $25.7B the previous quarter. Its ten largest holdings account for 30% of the portfolio.

Treasurer of the State of North Carolina deployed $759M of net new capital in Q1 2025, opening 4 new positions and adding to 825 existing holdings. Its largest new stake was iShares Russell 2000 ETF: 1,458,235 shares worth $291M.

By sector, the portfolio is most concentrated in Technology at 29% of assets, down from 32% a quarter earlier, followed by Financials and Healthcare.

On the sell side, the largest reduction was American Express, an estimated $7.48M trimmed.

  • Treasurer of the State of North Carolina's largest Q1 2025 buy was iShares Russell 2000 ETF: 1,458,235 shares worth $291M.
  • Treasurer of the State of North Carolina added most to Apple in Q1 2025, an estimated $96.8M increase.
  • Treasurer of the State of North Carolina's biggest Q1 2025 reduction was American Express, cutting an estimated $7.48M.
  • Treasurer of the State of North Carolina fully exited Yum China in Q1 2025, selling an estimated $4.15M.
  • Treasurer of the State of North Carolina's ten largest holdings make up 30% of its $25.1B portfolio in Q1 2025.
  • Treasurer of the State of North Carolina opened 4 new positions and closed 10 in Q1 2025.
  • Treasurer of the State of North Carolina's portfolio value fell 2% quarter-over-quarter to $25.1B.

Based on Treasurer of the State of North Carolina's 13F filing for Q1 2025, filed 15 May 2025.