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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 | |
|---|---|---|---|---|---|---|
|
1
Apple
AAPL
$4.41T
| $1.54B | 6.14% |
6,953,728
+417,864
| +6% | +$96.8M |
|
|
2
Microsoft
MSFT
$3.66T
| $1.32B | 5.25% |
3,519,109
+115,626
| +3% | +$47.1M |
|
3
NVIDIA
NVDA
$5.43T
| $1.2B | 4.78% |
11,078,910
+290,973
| +3% | +$36.9M |
|
|
4
Amazon
AMZN
$2.88T
| $860M | 3.42% |
4,521,332
+178,936
| +4% | +$38.8M |
|
5
Meta Platforms (Facebook)
META
$1.47T
| $612M | 2.43% |
1,061,190
+20,407
| +2% | +$13.2M |
|
6
Berkshire Hathaway Class B
BRK.B
$1.09T
| $446M | 1.78% |
838,073
+10,361
| +1% | +$5.04M |
|
7
Alphabet (Google) Class A
GOOGL
$4.2T
| $438M | 1.74% |
2,833,021
+84,005
| +3% | +$15.2M |
|
8
Broadcom
AVGO
$1.98T
| $373M | 1.48% |
2,229,096
+57,681
| +3% | +$12.2M |
|
|
9
Alphabet (Google) Class C
GOOG
$4.19T
| $365M | 1.45% |
2,338,481
+64,175
| +3% | +$11.8M |
|
10
Tesla
TSLA
$1.29T
| $346M | 1.38% |
1,336,276
+43,648
| +3% | +$14.5M |
|
11
Eli Lilly
LLY
$1.09T
| $317M | 1.26% |
384,310
-2,076
| -0.5% | -$1.73M |
|
12
JPMorgan Chase
JPM
$971B
| $317M | 1.26% |
1,292,790
+33,390
| +3% | +$8.51M |
|
|
13
Visa
V
$671B
| $297M | 1.18% |
847,707
+129,390
| +18% | +$43.8M |
|
|
14
iShares Russell 2000 ETF
IWM
$82.2B
| $291M | 1.16% |
+1,458,235
| New | +$316M |
|
15
ExxonMobil
XOM
$657B
| $239M | 0.95% |
2,013,233
+38,580
| +2% | +$4.27M |
|
16
UnitedHealth
UNH
$364B
| $228M | 0.91% |
435,006
+7,322
| +2% | +$3.74M |
|
17
Mastercard
MA
$490B
| $215M | 0.85% |
391,680
+6,672
| +2% | +$3.63M |
|
18
Procter & Gamble
PG
$335B
| $206M | 0.82% |
1,206,256
+79,600
| +7% | +$13.3M |
|
19
Netflix
NFLX
$309B
| $193M | 0.77% |
2,067,540
+35,390
| +2% | +$3.37M |
|
20
Costco
COST
$421B
| $192M | 0.76% |
202,986
+7,920
| +4% | +$7.72M |
|
21
Johnson & Johnson
JNJ
$629B
| $189M | 0.75% |
1,139,988
-15,616
| -1% | -$2.44M |
|
22
Walmart Inc
WMT
$923B
| $183M | 0.73% |
2,081,131
+25,442
| +1% | +$2.39M |
|
23
AbbVie
ABBV
$440B
| $179M | 0.71% |
855,226
-36,125
| -4% | -$7.02M |
|
24
Home Depot
HD
$342B
| $173M | 0.69% |
472,509
-12,368
| -3% | -$4.82M |
|
25
Cisco
CSCO
$488B
| $131M | 0.52% |
2,116,744
+7,958
| +0.4% | +$490K |
|
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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.