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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
KO icon
26
Coca-Cola
KO
$377B
$127M 0.51%
1,777,426
+27,920
+2% +$1.86M
BAC icon
27
Bank of America
BAC
$448B
$127M 0.51%
3,048,775
+37,604
+1% +$1.68M
CVX icon
28
Chevron
CVX
$387B
$125M 0.5%
749,431
-8,640
-1% -$1.35M
IBM icon
29
IBM
IBM
$221B
$122M 0.48%
489,806
-5,768
-1% -$1.41M
PM icon
30
Philip Morris
PM
$295B
$120M 0.48%
754,233
+37,600
+5% +$5.33M
CRM icon
31
Salesforce
CRM
$157B
$119M 0.47%
442,620
+8,261
+2% +$2.57M
ORCL icon
32
Oracle
ORCL
$443B
$116M 0.46%
833,105
-5,960
-0.7% -$970K
ABT icon
33
Abbott
ABT
$192B
$112M 0.45%
846,328
+25,981
+3% +$3.31M
WFC icon
34
Wells Fargo
WFC
$266B
$108M 0.43%
1,506,853
+1,632
+0.1% +$123K
MRK icon
35
Merck
MRK
$333B
$106M 0.42%
1,185,782
-39,636
-3% -$3.7M
MCD icon
36
McDonald's
MCD
$193B
$103M 0.41%
329,899
+4,400
+1% +$1.32M
LIN icon
37
Linde
LIN
$220B
$102M 0.41%
219,985
+8,590
+4% +$3.87M
T icon
38
AT&T
T
$167B
$99.7M 0.4%
3,526,554
-263,721
-7% -$6.63M
GE icon
39
GE Aerospace
GE
$375B
$98.6M 0.39%
492,785
+19,230
+4% +$3.78M
PEP icon
40
PepsiCo
PEP
$191B
$94.4M 0.38%
629,467
+6,154
+1% +$916K
TMO icon
41
Thermo Fisher Scientific
TMO
$221B
$93M 0.37%
186,994
+12,408
+7% +$6.72M
QCOM icon
42
Qualcomm
QCOM
$174B
$91.3M 0.36%
594,264
+7,058
+1% +$1.15M
ACN icon
43
Accenture
ACN
$109B
$89.6M 0.36%
287,287
+3,810
+1% +$1.35M
VZ icon
44
Verizon
VZ
$198B
$87.5M 0.35%
1,929,425
-146,006
-7% -$6.08M
TXN icon
45
Texas Instruments
TXN
$254B
$85.2M 0.34%
474,120
-8,278
-2% -$1.55M
PLTR icon
46
Palantir
PLTR
$421B
$83.9M 0.33%
993,589
+61,560
+7% +$5.41M
INTU icon
47
Intuit
INTU
$92.5B
$83.8M 0.33%
136,549
-4,144
-3% -$2.49M
DIS icon
48
Walt Disney
DIS
$179B
$83.6M 0.33%
846,787
+1,038
+0.1% +$112K
ADBE icon
49
Adobe
ADBE
$102B
$81.5M 0.32%
212,390
-838
-0.4% -$359K
CAT icon
50
Caterpillar
CAT
$395B
$80.9M 0.32%
245,394
+16,099
+7% +$5.73M
1
2
3 4 5

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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.