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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
MCHP icon
351
Microchip Technology
MCHP
$42.2B
$11.7M 0.05%
242,679
+9,470
+4% +$528K
CPNG icon
352
Coupang
CPNG
$29.3B
$11.6M 0.05%
530,038
+7,400
+1% +$172K
FTV icon
353
Fortive
FTV
$18.7B
$11.6M 0.05%
210,607
+8,214
+4% +$482K
FFIV icon
354
F5
FFIV
$23.6B
$11.6M 0.05%
43,490
+816
+2% +$228K
PPG icon
355
PPG Industries
PPG
$25.5B
$11.6M 0.05%
105,816
+4,130
+4% +$476K
INGR icon
356
Ingredion
INGR
$6.63B
$11.5M 0.05%
85,145
+1,311
+2% +$173K
DELL icon
357
Dell
DELL
$320B
$11.5M 0.05%
125,900
-16,015
-11% -$1.69M
IRM icon
358
Iron Mountain
IRM
$37.7B
$11.5M 0.05%
133,244
+1,754
+1% +$169K
GPN icon
359
Global Payments
GPN
$25.1B
$11.4M 0.05%
116,483
+1,552
+1% +$162K
HSY icon
360
Hershey
HSY
$37.4B
$11.4M 0.05%
66,654
-31,724
-32% -$5.19M
PTC icon
361
PTC
PTC
$16.7B
$11.4M 0.05%
73,551
-5,225
-7% -$899K
TYL icon
362
Tyler Technologies
TYL
$13.5B
$11.3M 0.04%
19,399
-7,250
-27% -$4.31M
MTD icon
363
Mettler-Toledo International
MTD
$28.7B
$11.3M 0.04%
9,529
+2
+0% +$2.55K
DOW icon
364
Dow Inc
DOW
$21.9B
$11.2M 0.04%
322,109
+12,570
+4% +$483K
GEN icon
365
Gen Digital
GEN
$17.7B
$11.2M 0.04%
423,471
-65,041
-13% -$1.78M
TTD icon
366
Trade Desk
TTD
$6.84B
$11.2M 0.04%
204,336
+7,980
+4% +$722K
LPLA icon
367
LPL Financial
LPLA
$29.5B
$11.1M 0.04%
34,061
-16,193
-32% -$5.64M
DRI icon
368
Darden Restaurants
DRI
$25.4B
$11.1M 0.04%
53,624
+707
+1% +$136K
DOV icon
369
Dover
DOV
$27.8B
$11M 0.04%
62,758
+2,450
+4% +$471K
ATO icon
370
Atmos Energy
ATO
$28.7B
$11M 0.04%
70,841
+2,760
+4% +$403K
CBOE icon
371
Cboe Global Markets
CBOE
$30.6B
$10.9M 0.04%
48,275
-25,418
-34% -$5.27M
HOLX
372
DELISTED
Hologic
HOLX
$10.9M 0.04%
176,406
+426
+0.2% +$28.2K
ULTA icon
373
Ulta Beauty
ULTA
$22.2B
$10.9M 0.04%
29,663
-2,592
-8% -$988K
MKL icon
374
Markel Group
MKL
$22.8B
$10.8M 0.04%
5,796
+225
+4% +$414K
SBAC icon
375
SBA Communications
SBAC
$19.8B
$10.8M 0.04%
49,105
-2,069
-4% -$433K
13 14
15
16 17

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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.