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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
SYK icon
76
Stryker
SYK
$133B
$61.7M 0.25%
165,674
+1,284
+0.8% +$489K
C icon
77
Citigroup
C
$232B
$61.5M 0.24%
866,478
+12,187
+1% +$929K
MS icon
78
Morgan Stanley
MS
$347B
$61.3M 0.24%
525,072
+1,995
+0.4% +$257K
LOW icon
79
Lowe's Companies
LOW
$122B
$60.3M 0.24%
258,697
+6,780
+3% +$1.67M
SCHW
80
Charles Schwab
SCHW
$190B
$59.4M 0.24%
758,538
+84,372
+13% +$6.62M
BA icon
81
Boeing
BA
$182B
$58.4M 0.23%
342,504
+31,250
+10% +$5.41M
TMUS icon
82
T-Mobile US
TMUS
$195B
$57.5M 0.23%
215,646
-9,840
-4% -$2.43M
VRTX icon
83
Vertex Pharmaceuticals
VRTX
$134B
$57.4M 0.23%
118,375
+1,582
+1% +$737K
FISV
84
Fiserv Inc
FISV
$28.4B
$57.3M 0.23%
259,261
+10,110
+4% +$2.21M
BMY icon
85
Bristol-Myers Squibb
BMY
$132B
$56.6M 0.23%
928,649
-121,659
-12% -$7.09M
CB icon
86
Chubb
CB
$133B
$55.9M 0.22%
185,231
-15,499
-8% -$4.31M
MRSH
87
Marsh
MRSH
$90.9B
$55.1M 0.22%
225,729
+3,011
+1% +$683K
DE icon
88
Deere & Co
DE
$166B
$53.9M 0.21%
114,827
+884
+0.8% +$414K
PANW icon
89
Palo Alto Networks
PANW
$322B
$53.6M 0.21%
314,247
-19,047
-6% -$3.52M
ADI icon
90
Analog Devices
ADI
$189B
$53.5M 0.21%
265,284
+4,115
+2% +$889K
CME icon
91
CME Group
CME
$95.1B
$52.6M 0.21%
198,314
+15,608
+9% +$3.85M
KLAC icon
92
KLA
KLAC
$274B
$51.7M 0.21%
760,240
+38,130
+5% +$2.75M
SBUX icon
93
Starbucks
SBUX
$126B
$50.9M 0.2%
518,751
+20,240
+4% +$2.09M
MU icon
94
Micron Technology
MU
$1.06T
$50.1M 0.2%
577,050
+6,804
+1% +$653K
MO icon
95
Altria Group
MO
$110B
$49.3M 0.2%
821,894
+30,425
+4% +$1.66M
ETN icon
96
Eaton
ETN
$176B
$49.1M 0.2%
180,675
+7,050
+4% +$2.2M
PLD icon
97
Prologis
PLD
$135B
$47.3M 0.19%
423,046
+16,510
+4% +$1.91M
AMT icon
98
American Tower
AMT
$80.5B
$46.5M 0.19%
213,733
-3,855
-2% -$756K
ELV icon
99
Elevance Health
ELV
$87.7B
$46.3M 0.18%
106,453
+1,418
+1% +$569K
BX icon
100
Blackstone
BX
$112B
$46.2M 0.18%
330,335
+12,890
+4% +$2.09M
2 3
4
5 6

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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.