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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
PNC icon
151
PNC Financial Services
PNC
$102B
$31.9M 0.13%
181,771
+7,090
+4% +$1.34M
CDNS icon
152
Cadence Design Systems
CDNS
$89.9B
$31.7M 0.13%
124,768
-4,569
-4% -$1.27M
KR icon
153
Kroger
KR
$34.9B
$31.5M 0.13%
464,645
+12,293
+3% +$779K
CMG icon
154
Chipotle Mexican Grill
CMG
$41.4B
$31.4M 0.12%
625,340
-19,680
-3% -$1.07M
MSTR icon
155
Strategy Inc
MSTR
$37.4B
$31.1M 0.12%
107,925
+31,285
+41% +$9.93M
PYPL icon
156
PayPal
PYPL
$51.1B
$31M 0.12%
475,338
+22,417
+5% +$1.75M
REGN icon
157
Regeneron Pharmaceuticals
REGN
$83.8B
$30.9M 0.12%
48,758
-9,365
-16% -$6.44M
ADSK icon
158
Autodesk
ADSK
$51.8B
$30.7M 0.12%
117,325
+4,859
+4% +$1.38M
BDX icon
159
Becton Dickinson
BDX
$49.8B
$30.3M 0.12%
132,342
+1,745
+1% +$405K
SNPS icon
160
Synopsys
SNPS
$79.5B
$30.3M 0.12%
70,590
+3,650
+5% +$1.77M
USB icon
161
US Bancorp
USB
$102B
$30.1M 0.12%
713,752
+27,850
+4% +$1.28M
APD icon
162
Air Products & Chemicals
APD
$67.7B
$30M 0.12%
101,606
+1,290
+1% +$398K
DASH icon
163
DoorDash
DASH
$93.3B
$29.6M 0.12%
161,795
+6,320
+4% +$1.19M
AZO icon
164
AutoZone
AZO
$49.7B
$29.4M 0.12%
7,724
-42
-0.5% -$145K
CEG icon
165
Constellation Energy
CEG
$98.7B
$29.1M 0.12%
144,152
+5,630
+4% +$1.51M
NEM icon
166
Newmont
NEM
$120B
$29.1M 0.12%
602,005
-95,000
-14% -$4.17M
FCX icon
167
Freeport-McMoran
FCX
$94.7B
$29M 0.12%
765,300
+25,863
+3% +$990K
ECL icon
168
Ecolab
ECL
$77.3B
$29M 0.12%
114,279
+1,460
+1% +$368K
XEL icon
169
Xcel Energy
XEL
$49.4B
$28.4M 0.11%
401,758
+10,651
+3% +$725K
OKE icon
170
Oneok
OKE
$58.7B
$28.2M 0.11%
283,809
+27,170
+11% +$2.7M
AFL icon
171
Aflac
AFL
$60.7B
$28.1M 0.11%
252,721
-839
-0.3% -$89K
KMB icon
172
Kimberly-Clark
KMB
$36.5B
$28M 0.11%
197,200
-8,696
-4% -$1.17M
RCL icon
173
Royal Caribbean
RCL
$83B
$27.8M 0.11%
135,511
+1,519
+1% +$359K
CRH icon
174
CRH
CRH
$65.8B
$27.7M 0.11%
314,470
+12,270
+4% +$1.21M
BNY
175
Bank of New York Mellon
BNY
$110B
$27.6M 0.11%
328,943
-4,601
-1% -$387K
5 6
7
8 9

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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.