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North Carolina

North Carolina directly owned shares for a relatively small number of companies compared to other states that disclose their voting records on directly owned equities. Its Direct Voting averages are not readily comparable to other states’ Direct Voting averages.

The North Carolina Retirement Systems (NCRS) administers the pension benefits for state and local government employees. The NCRS has a sole trustee – the Treasurer of North Carolina. The NCRS specific proxy voting records can be found on this website.

The SERS board represents teachers and the LGERS for state employees and local government employees; the board consists of 13 members: 3 Ex Officio (State Treasurer, OSHR Director, State Superintendent); 7 appointed by the Governor; 1 appointed by the Senate President Pro Tempore; 1 appointed by the Speaker of the House.
The LGERS board consists of 13 members: 2 Ex Officio (State Treasurer, State Superintendent); 9 appointed by the Governor; 1 appointed by the Senate President Pro Tempore; 1 appointed by the Speaker of the House.

The first table shows the aggregated proxy voting records of the state’s asset managers, who manage the pension’s stock market portfolio either through mutual funds or ETFs, and are therefore exercising proxy voting privileges as well. The second table shows the state’s publicly disclosed proxy voting records for public securities that it directly owns through pension fund portfolios. Both of these tables are necessary to reflect an accurate and comprehensive picture of the state’s proxy voting records.

By Asset Manager

BlackRock Funds