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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
DDOG icon
301
Datadog
DDOG
$90.6B
$13.8M 0.05%
139,073
+4,095
+3% +$517K
EFX icon
302
Equifax
EFX
$21.8B
$13.7M 0.05%
56,217
+2,190
+4% +$550K
BRO icon
303
Brown & Brown
BRO
$24B
$13.6M 0.05%
109,291
+3,610
+3% +$403K
MTB icon
304
M&T Bank
MTB
$36.6B
$13.6M 0.05%
76,051
+1,039
+1% +$197K
WSM icon
305
Williams-Sonoma
WSM
$28.5B
$13.6M 0.05%
85,783
-3,438
-4% -$664K
GLPI icon
306
Gaming and Leisure Properties
GLPI
$12.7B
$13.5M 0.05%
264,901
+5,050
+2% +$248K
TSCO icon
307
Tractor Supply
TSCO
$18.8B
$13.5M 0.05%
244,315
+7,130
+3% +$390K
MLM icon
308
Martin Marietta Materials
MLM
$32.7B
$13.4M 0.05%
28,057
+1,100
+4% +$559K
ROK icon
309
Rockwell Automation
ROK
$49.5B
$13.4M 0.05%
51,739
-5
-0% -$1.39K
DAL icon
310
Delta Air Lines
DAL
$60B
$13.3M 0.05%
305,590
+22,290
+8% +$1.32M
CPAY icon
311
Corpay
CPAY
$27.9B
$13.3M 0.05%
38,125
+1,219
+3% +$440K
STZ icon
312
Constellation Brands
STZ
$23.3B
$13.2M 0.05%
72,029
+98
+0.1% +$17.8K
PHM icon
313
Pultegroup
PHM
$24.9B
$13.2M 0.05%
128,534
+3,736
+3% +$404K
XYL icon
314
Xylem
XYL
$28.1B
$13.2M 0.05%
110,586
+4,310
+4% +$534K
VTR icon
315
Ventas
VTR
$46.3B
$13.2M 0.05%
191,540
-3,811
-2% -$243K
AWK icon
316
American Water Works
AWK
$27.1B
$13.2M 0.05%
89,264
+1,190
+1% +$157K
VLTO icon
317
Veralto
VLTO
$23.8B
$13.2M 0.05%
135,051
+24,270
+22% +$2.42M
DTE icon
318
DTE Energy
DTE
$29B
$13.1M 0.05%
94,605
+3,690
+4% +$471K
BR icon
319
Broadridge
BR
$19.6B
$13M 0.05%
53,590
+720
+1% +$169K
HUBS icon
320
HubSpot
HUBS
$12B
$13M 0.05%
22,677
+1,190
+6% +$835K
NUE icon
321
Nucor
NUE
$61.8B
$12.9M 0.05%
107,342
-31,637
-23% -$4.08M
UAL icon
322
United Airlines
UAL
$41B
$12.8M 0.05%
185,342
+21,270
+13% +$2.01M
HOOD icon
323
Robinhood
HOOD
$89.3B
$12.8M 0.05%
307,476
+12,000
+4% +$571K
IP icon
324
International Paper
IP
$21.8B
$12.8M 0.05%
239,526
+64,540
+37% +$3.53M
CTRA
325
DELISTED
Coterra Energy
CTRA
$12.7M 0.05%
440,121
+13,321
+3% +$371K
11 12
13
14 15

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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.