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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
CTAS icon
126
Cintas
CTAS
$80.6B
$36.3M 0.14%
176,411
+6,229
+4% +$1.24M
EQIX icon
127
Equinix
EQIX
$106B
$36M 0.14%
44,125
+580
+1% +$521K
AON icon
128
Aon
AON
$74.6B
$35.9M 0.14%
89,868
-8,837
-9% -$3.39M
SPG icon
129
Simon Property Group
SPG
$71.6B
$35.8M 0.14%
215,636
+2,286
+1% +$400K
MSI icon
130
Motorola Solutions
MSI
$76.7B
$35.7M 0.14%
81,510
-2,090
-3% -$932K
KKR icon
131
KKR & Co
KKR
$102B
$35.6M 0.14%
308,301
+12,030
+4% +$1.66M
PH icon
132
Parker-Hannifin
PH
$134B
$35.6M 0.14%
58,556
+2,280
+4% +$1.49M
APH icon
133
Amphenol
APH
$209B
$35.5M 0.14%
540,726
+7,250
+1% +$495K
GD icon
134
General Dynamics
GD
$106B
$35.5M 0.14%
130,063
-1,250
-1% -$325K
FTNT icon
135
Fortinet
FTNT
$120B
$34.9M 0.14%
362,842
+36,179
+11% +$3.67M
TT icon
136
Trane Technologies
TT
$106B
$34.9M 0.14%
103,643
+2,076
+2% +$750K
EOG icon
137
EOG Resources
EOG
$74.3B
$34.6M 0.14%
269,995
+14,464
+6% +$1.86M
TDG icon
138
TransDigm Group
TDG
$68.4B
$34.5M 0.14%
24,919
+976
+4% +$1.3M
APP icon
139
Applovin
APP
$105B
$34.4M 0.14%
129,809
+1,508
+1% +$520K
HCA icon
140
HCA Healthcare
HCA
$88.5B
$34.4M 0.14%
99,503
-5,202
-5% -$1.67M
NKE icon
141
Nike
NKE
$61B
$34.4M 0.14%
541,210
+2,398
+0.4% +$177K
ZTS icon
142
Zoetis
ZTS
$30.7B
$34M 0.14%
206,727
+643
+0.3% +$107K
MCO icon
143
Moody's
MCO
$82.9B
$33.7M 0.13%
72,335
+2,820
+4% +$1.36M
WMB icon
144
Williams Companies
WMB
$89.9B
$33.3M 0.13%
557,002
+21,730
+4% +$1.24M
ITW icon
145
Illinois Tool Works
ITW
$82.4B
$33.2M 0.13%
133,994
+5,230
+4% +$1.34M
AEP icon
146
American Electric Power
AEP
$68.1B
$32.8M 0.13%
300,409
+12,065
+4% +$1.22M
APO icon
147
Apollo Global Management
APO
$83.4B
$32.7M 0.13%
238,825
+9,320
+4% +$1.43M
IVV icon
148
iShares Core S&P 500 ETF
IVV
$909B
$32.2M 0.13%
57,348
+36,585
+176% +$21.6M
NOC icon
149
Northrop Grumman
NOC
$81.6B
$32M 0.13%
62,513
+1,820
+3% +$869K
AMP icon
150
Ameriprise Financial
AMP
$50B
$32M 0.13%
66,011
+1,340
+2% +$703K
4 5
6
7 8

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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.