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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
GM icon
176
General Motors
GM
$76B
$27.4M 0.11%
582,831
-62,343
-10% -$3.07M
TRV icon
177
Travelers Companies
TRV
$77.2B
$27.4M 0.11%
103,488
+349
+0.3% +$86.9K
SLB icon
178
SLB Ltd
SLB
$77.5B
$27M 0.11%
646,194
+25,220
+4% +$1.03M
DFS
179
DELISTED
Discover Financial Services
DFS
$26.9M 0.11%
157,427
+4,588
+3% +$839K
VRSK icon
180
Verisk Analytics
VRSK
$24.2B
$26.6M 0.11%
89,273
+908
+1% +$262K
CSX icon
181
CSX Corp
CSX
$93B
$26M 0.1%
882,311
+34,430
+4% +$1.09M
TGT icon
182
Target
TGT
$70.7B
$25.6M 0.1%
245,724
-1,857
-0.8% -$232K
KMI icon
183
Kinder Morgan
KMI
$71.5B
$25.3M 0.1%
887,245
+34,620
+4% +$959K
TFC icon
184
Truist Financial
TFC
$64.8B
$25.1M 0.1%
610,970
+23,840
+4% +$1.06M
PAYX icon
185
Paychex
PAYX
$44.6B
$25M 0.1%
162,053
-43,145
-21% -$6.35M
HLT icon
186
Hilton Worldwide
HLT
$72.1B
$24.9M 0.1%
109,631
+1,457
+1% +$363K
ALL icon
187
Allstate
ALL
$66B
$24.9M 0.1%
120,221
+1,612
+1% +$314K
AIG icon
188
American International
AIG
$39.8B
$24.8M 0.1%
285,421
-7,652
-3% -$595K
FDX icon
189
FedEx
FDX
$80.2B
$24.7M 0.1%
101,425
-805
-0.8% -$209K
MAR icon
190
Marriott International
MAR
$91.9B
$24.7M 0.1%
103,649
+150
+0.1% +$40.8K
ACGL icon
191
Arch Capital
ACGL
$33.5B
$24.7M 0.1%
256,345
-15,218
-6% -$1.4M
NSC icon
192
Norfolk Southern
NSC
$76B
$24.5M 0.1%
103,445
+4,040
+4% +$984K
URI icon
193
United Rentals
URI
$69.8B
$24.5M 0.1%
39,027
+1,190
+3% +$818K
CARR icon
194
Carrier Global
CARR
$52.3B
$24.3M 0.1%
384,006
+14,990
+4% +$996K
JCI icon
195
Johnson Controls International
JCI
$91.8B
$24.2M 0.1%
301,898
+8,320
+3% +$684K
MRVL icon
196
Marvell Technology
MRVL
$199B
$24.2M 0.1%
392,246
+15,310
+4% +$1.49M
HWM icon
197
Howmet Aerospace
HWM
$112B
$24.1M 0.1%
185,448
+2,495
+1% +$317K
CTVA icon
198
Corteva
CTVA
$50.2B
$23.8M 0.09%
378,768
+63,000
+20% +$3.89M
LNG icon
199
Cheniere Energy
LNG
$55.2B
$23.7M 0.09%
102,235
+3,990
+4% +$898K
ABNB icon
200
Airbnb
ABNB
$111B
$23.4M 0.09%
195,957
+3,680
+2% +$493K
6 7
8
9 10

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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.