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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
(-2%)
Cap. Flow
+$759M
Cap. Flow
% of AUM
3.02%
Top 10 Holdings %
Top 10 Hldgs %
29.86%
Holding
1,017
New
4
Increased
825
Reduced
177
Closed
10
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares Russell 2000 ETF
IWM
|
+$316M |
| 2 |
Apple
AAPL
|
+$96.8M |
| 3 |
Microsoft
MSFT
|
+$47.1M |
| 4 |
Visa
V
|
+$43.8M |
| 5 |
Amazon
AMZN
|
+$38.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
American Express
AXP
|
+$7.48M |
| 2 |
General Mills
GIS
|
+$7.43M |
| 3 |
Amdocs
DOX
|
+$7.39M |
| 4 |
Alnylam Pharmaceuticals
ALNY
|
+$7.19M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
51
RTX Corp
RTX
$296B
| $80.6M | 0.32% |
608,798
+23,760
| +4% | +$3.01M |
|
52
Intuitive Surgical
ISRG
$142B
| $80.1M | 0.32% |
161,747
+1,356
| +0.8% | +$750K |
|
53
ServiceNow
NOW
$130B
| $78.8M | 0.31% |
494,800
+6,265
| +1% | +$1.21M |
|
54
Booking.com
BKNG
$161B
| $76.9M | 0.31% |
417,125
+24,100
| +6% | +$4.61M |
|
55
Amgen
AMGN
$226B
| $76.5M | 0.3% |
245,529
-15,603
| -6% | -$4.61M |
|
56
Progressive
PGR
$122B
| $75.7M | 0.3% |
267,628
-25,744
| -9% | -$6.73M |
|
57
Advanced Micro Devices
AMD
$799B
| $75.7M | 0.3% |
737,040
+11,865
| +2% | +$1.32M |
|
58
Goldman Sachs
GS
$307B
| $75.5M | 0.3% |
138,116
-592
| -0.4% | -$356K |
|
|
59
American Express
AXP
$232B
| $75.1M | 0.3% |
279,140
-25,299
| -8% | -$7.48M |
|
60
Comcast
CMCSA
$92.5B
| $74.8M | 0.3% |
2,026,935
-31,937
| -2% | -$1.15M |
|
61
S&P Global
SPGI
$123B
| $72.8M | 0.29% |
143,282
+5,279
| +4% | +$2.7M |
|
62
Gilead Sciences
GILD
$170B
| $71.5M | 0.28% |
638,042
-937
| -0.1% | -$96.7K |
|
63
Automatic Data Processing
ADP
$108B
| $70.6M | 0.28% |
231,150
+2,674
| +1% | +$807K |
|
64
Blackrock
BLK
$182B
| $69.7M | 0.28% |
73,623
+2,149
| +3% | +$2.11M |
|
65
Boston Scientific
BSX
$75.7B
| $67.8M | 0.27% |
672,465
+6,975
| +1% | +$702K |
|
66
Uber
UBER
$154B
| $67.8M | 0.27% |
930,586
+12,374
| +1% | +$891K |
|
67
Pfizer
PFE
$152B
| $66.8M | 0.27% |
2,636,904
-212,438
| -7% | -$5.56M |
|
68
NextEra Energy
NEE
$179B
| $66.7M | 0.27% |
941,424
+36,730
| +4% | +$2.59M |
|
69
ConocoPhillips
COP
$150B
| $66.7M | 0.27% |
635,257
+23,237
| +4% | +$2.32M |
|
70
Danaher
DHR
$144B
| $66.1M | 0.26% |
322,355
-16,281
| -5% | -$3.55M |
|
71
Union Pacific
UNP
$176B
| $66M | 0.26% |
279,307
+10,900
| +4% | +$2.62M |
|
72
Medtronic
MDT
$117B
| $65.5M | 0.26% |
729,386
+8,178
| +1% | +$732K |
|
73
TJX Companies
TJX
$169B
| $63.2M | 0.25% |
518,791
+6,925
| +1% | +$841K |
|
74
Honeywell
HON
$73.9B
| $63.2M | 0.25% |
316,547
+12,350
| +4% | +$2.5M |
|
75
Applied Materials
AMAT
$438B
| $62.7M | 0.25% |
431,954
+2,843
| +0.7% | +$478K |
|
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GAM
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.