N-Q 1 filing1007.htm PRIMARY DOCUMENT

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549


FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY


Investment Company Act file number   811-3455


The North Carolina Capital Management Trust

(Exact name of registrant as specified in charter)


245 Summer St., Boston, Massachusetts  02210

(Address of principal executive offices)       (Zip code)


Marc Bryant, Secretary

245 Summer St.

Boston, Massachusetts  02210

(Name and address of agent for service)



Registrant's telephone number, including area code:

617-563-7000



Date of fiscal year end:

June 30


Date of reporting period:

March 31, 2018


Item 1.

Schedule of Investments






Quarterly Holdings Report
for

The North Carolina Capital Management Trust:

Government Portfolio

March 31, 2018







NCC-QTLY-0518
1.814653.113





Schedule of Investments March 31, 2018 (Unaudited)

Showing Percentage of Net Assets

U.S. Treasury Debt - 28.5%    
 Yield(a) Principal Amount Value 
U.S. Treasury Inflation Protected Obligations - 3.8%    
U.S. Treasury Notes    
4/15/18 1.73 to 1.85 % $191,000,000 $205,133,733 
U.S. Treasury Obligations - 24.7%    
U.S. Treasury Bills    
4/5/18 to 8/16/18 1.19 to 1.82 1,042,000,000 1,039,330,031 
U.S. Treasury Notes    
4/30/18 to 1/31/20 1.60 to 1.91 (b) 296,000,000 295,843,504 
   1,335,173,535 
TOTAL U.S. TREASURY DEBT    
(Cost $1,540,307,268)   1,540,307,268 
U.S. Government Agency Debt - 63.4%    
Federal Agencies - 63.4%    
Fannie Mae    
5/7/18 to 7/9/18 1.45 to 1.83 183,415,000 182,837,858 
Federal Farm Credit Bank    
4/4/18 to 2/22/19 1.37 to 2.01 (b) 445,240,000 444,803,508 
Federal Home Loan Bank    
4/2/18 to 7/11/19 1.29 to 2.05 (b) 2,272,420,000 2,271,241,127 
Freddie Mac    
4/2/18 to 8/8/19 1.25 to 1.86 (b) 522,073,000 522,027,219 
TOTAL U.S. GOVERNMENT AGENCY DEBT    
(Cost $3,420,909,712)   3,420,909,712 

U.S. Treasury Repurchase Agreement - 3.8%   
 Maturity Amount Value 
In a joint trading account at 1.79% dated 3/29/18 due 4/2/18 (Collateralized by U.S. Treasury Obligations) # $13,532,685 $13,530,000 
With:   
BMO Capital Markets Corp. at 1.73%, dated 3/27/18 due 4/3/18 (Collateralized by U.S. Treasury Obligations valued at $6,120,963, 0.00% - 6.00%, 7/19/18 - 5/15/47) 6,002,018 6,000,000 
Deutsche Bank Securities, Inc. at 1.83%, dated 3/29/18 due 4/2/18 (Collateralized by U.S. Treasury Obligations valued at $1,020,091, 1.88%, 12/31/19) 1,000,203 1,000,000 
HSBC Securities, Inc. at:   
1.76%, dated 3/27/18 due 4/3/18 (Collateralized by U.S. Treasury Obligations valued at $12,246,067, 1.75%, 10/31/20) 12,004,107 12,000,000 
1.78%, dated 3/29/18 due 4/5/18 (Collateralized by U.S. Treasury Obligations valued at $20,403,559, 1.25%, 3/31/19) 20,006,922 20,000,000 
1.81%, dated 3/29/18 due 4/2/18 (Collateralized by U.S. Treasury Obligations valued at $10,283,194, 2.75%, 2/15/24) 10,002,011 10,000,000 
Nomura Securities International, Inc. at 1.8%, dated 3/29/18 due 4/2/18 (Collateralized by U.S. Treasury Obligations valued at $72,423,718, 1.88%, 4/30/22) 71,014,200 71,000,000 
Societe Generale at:   
1.61%, dated 3/2/18 due 4/10/18:   
(Collateralized by U.S. Treasury Obligations valued at $14,297,980, 0.00% - 1.88%, 8/16/18 - 2/28/23) 14,024,418 14,000,000 
(Collateralized by U.S. Treasury Obligations valued at $7,219,039, 3.13%, 8/15/44) 7,012,209 7,000,000 
1.62%, dated 3/5/18 due 4/11/18 (Collateralized by U.S. Treasury Obligations valued at $14,436,228, 2.88%, 11/15/46) 14,023,310 14,000,000 
1.69%, dated 3/13/18 due 4/26/18 (Collateralized by U.S. Treasury Obligations valued at $13,400,735, 3.13%, 8/15/44) 13,026,852 13,000,000 
TD Securities (U.S.A.) at 1.8%, dated 3/29/18 due 4/2/18 (Collateralized by U.S. Treasury Obligations valued at $25,501,347, 2.13% - 2.75%, 8/15/21 - 2/15/24) 25,005,000 25,000,000 
TOTAL U.S. TREASURY REPURCHASE AGREEMENT   
(Cost $206,530,000)  206,530,000 
TOTAL INVESTMENT IN SECURITIES - 95.7%   
(Cost $5,167,746,980)  5,167,746,980 
NET OTHER ASSETS (LIABILITIES) - 4.3%  229,907,563 
NET ASSETS - 100%  $5,397,654,543 

The date shown for securities represents the date when principal payments must be paid, taking into account any call options exercised by the issuer and any permissible maturity shortening features other than interest rate resets.

Legend

 (a) Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end.

 (b) Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.


Investment Valuation

All investments are categorized as Level 2 under the Fair Value Hierarchy. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. Additional information on valuation inputs is provided later in this section.

Security transactions are accounted for as of trade date. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available).

As permitted by compliance with certain conditions under Rule 2a-7 of the 1940 Act, securities are valued at amortized cost, which approximates fair value. The amortized cost of an instrument is determined by valuing it at its original cost and thereafter amortizing any discount or premium from its face value at a constant rate until maturity. Securities held by a money market fund are generally high quality and liquid; however, they are reflected as Level 2 because the inputs used to determine fair value are not quoted prices in an active market.

Other Information

# Additional information on each counterparty to the repurchase agreement is as follows:

Repurchase Agreement / Counterparty Value 
$13,530,000 due 4/02/18 at 1.79%  
HSBC Securities (USA), Inc. $9,530,000 
Wells Fargo Securities LLC 4,000,000 
 $13,530,000 

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.

Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.

Quarterly Holdings Report
for

The North Carolina Capital Management Trust:

Term Portfolio

March 31, 2018







NCT-QTLY-0518
1.814654.113





Schedule of Investments March 31, 2018 (Unaudited)

Showing Percentage of Net Assets

Commercial Paper - 99.9%   
 Principal Amount Value 
ABN AMRO Funding U.S.A. LLC 1.72% 4/16/18 35,000,000 34,967,695 
ASB Finance Ltd. (London):   
1 month U.S. LIBOR + 0.170% 1.818% 7/30/18 (a)(b) $6,000,000 $5,997,684 
1 month U.S. LIBOR + 0.440% 2.3115% 9/26/18 (a)(b) 10,000,000 9,979,580 
Atlantic Asset Securitization Corp.:   
1.8% 5/7/18 35,000,000 34,925,303 
2% 5/18/18 35,000,000 34,902,291 
2.15% 6/5/18 10,000,000 9,959,823 
2.31% 6/19/18 35,000,000 34,819,589 
Australia & New Zealand Banking Group Ltd.:   
1 month U.S. LIBOR + 0.110% 1.7962% 4/5/18 (a)(b) 30,000,000 30,000,420 
1 month U.S. LIBOR + 0.120% 1.768% 5/30/18 (a)(b) 35,000,000 35,003,955 
1 month U.S. LIBOR + 0.130% 1.8803% 6/13/18 (a)(b) 30,000,000 29,999,910 
yankee 2.23% 6/20/18 30,000,000 29,860,077 
Bank of Nova Scotia:   
1 month U.S. LIBOR + 0.170% 1.9096% 8/10/18 (a)(b) 30,000,000 29,983,770 
1 month U.S. LIBOR + 0.170% 2.0238% 5/22/18 (a)(b) 25,000,000 25,005,125 
1 month U.S. LIBOR + 0.190% 2.0669% 8/28/18 (a)(b) 20,000,000 19,988,060 
1 month U.S. LIBOR + 0.200% 1.9113% 11/8/18 (a)(b) 30,000,000 29,964,870 
1 month U.S. LIBOR + 0.340% 2.105% 9/14/18 (a)(b) 30,000,000 29,996,460 
Barclays Bank PLC/Barclays U.S. CCP Funding LLC yankee:   
1.86% 4/3/18 (c) 7,000,000 6,998,445 
2.05% 5/15/18 (c) 15,000,000 14,958,425 
2.08% 5/17/18 (c) 11,000,000 10,968,004 
2.1% 5/22/18 (c) 10,000,000 9,967,450 
2.5% 6/29/18 (c) 4,000,000 3,975,556 
BNP Paribas Dublin Branch yankee:   
1.73% 4/2/18 15,226,000 15,223,288 
1.73% 4/3/18 33,000,000 32,992,625 
1.73% 4/4/18 10,000,000 9,997,310 
BNP Paribas New York Branch yankee 1.7% 4/10/18 35,000,000 34,980,775 
BPCE SA yankee:   
1.86% 5/1/18 35,000,000 34,941,032 
2.2% 6/11/18 25,000,000 24,891,055 
Caisse d'Amort de la Dette Sociale yankee:   
1.72% 4/3/18 (c) 35,000,000 34,991,439 
1.74% 4/17/18 (c) 35,000,000 34,966,862 
1.81% 5/3/18 (c) 25,000,000 24,955,473 
Canadian Imperial Bank of Commerce:   
1 month U.S. LIBOR + 0.170% 1.9203% 4/13/18 (a)(b) 30,000,000 30,002,100 
1 month U.S. LIBOR + 0.170% 1.9921% 4/20/18 (a)(b) 20,000,000 20,002,960 
1 month U.S. LIBOR + 0.180% 1.9566% 8/15/18 (a)(b) 15,000,000 14,990,370 
1 month U.S. LIBOR + 0.210% 1.9496% 10/12/18 (a)(b) 35,000,000 34,945,190 
1 month U.S. LIBOR + 0.210% 2.0182% 10/19/18 (a)(b) 35,000,000 34,939,625 
1 month U.S. LIBOR + 0.290% 2.1615% 11/26/18 (a)(b) 20,000,000 19,969,580 
Commonwealth Bank of Australia:   
1 month U.S. LIBOR + 0.150% 1.8679% 7/9/18 (a)(b) 35,000,000 34,992,580 
1 month U.S. LIBOR + 0.170% 1.8562% 7/5/18 (a)(b) 17,000,000 16,998,385 
1 month U.S. LIBOR + 0.180% 2.0207% 6/21/18 (a)(b) 30,000,000 30,002,400 
yankee 2.15% 6/12/18 25,000,000 24,888,020 
Credit Agricole CIB yankee:   
1.69% 4/2/18 97,748,000 97,747,989 
1.71% 4/9/18 35,000,000 34,982,374 
Credit Suisse AG:   
1 month U.S. LIBOR + 0.200% 1.9017% 8/7/18 (a)(b) 35,000,000 34,984,705 
1 month U.S. LIBOR + 0.250% 2.0907% 8/21/18 (a)(b) 35,000,000 34,985,300 
1 month U.S. LIBOR + 0.400% 2.1864% 9/17/18 (a)(b) 25,000,000 24,989,700 
1 month U.S. LIBOR + 0.400% 2.2769% 7/26/18 (a)(b) 35,000,000 35,014,455 
yankee 2.35% 7/3/18 30,000,000 29,820,639 
Danske Corp.:   
1.71% 4/17/18 35,000,000 34,965,550 
1.8% 5/7/18 35,000,000 34,924,659 
DNB Bank ASA:   
1 month U.S. LIBOR + 0.100% 1.8113% 5/8/18 (a)(b) 30,000,000 30,003,060 
1 month U.S. LIBOR + 0.100% 1.9221% 4/20/18 (a)(b) 30,000,000 30,002,580 
1 month U.S. LIBOR + 0.110% 1.7962% 6/5/18 (a)(b) 35,000,000 35,001,015 
1 month U.S. LIBOR + 0.160% 1.808% 7/30/18 (a)(b) 35,000,000 34,985,580 
Gotham Funding Corp. yankee:   
1.75% 4/9/18 (Liquidity Facility Bank of Tokyo-Mitsubishi UFJ Ltd.) 3,000,000 2,998,410 
1.76% 4/9/18 (Liquidity Facility Bank of Tokyo-Mitsubishi UFJ Ltd.) 3,000,000 2,998,410 
2.25% 6/13/18 (Liquidity Facility Bank of Tokyo-Mitsubishi UFJ Ltd.) 12,000,000 11,943,608 
ING U.S. Funding LLC:   
1 month U.S. LIBOR + 0.120% 1.9282% 4/18/18 (a)(b) 30,000,000 30,002,850 
1 month U.S. LIBOR + 0.130% 1.9066% 5/15/18 (a)(b) 30,000,000 30,019,140 
1 month U.S. LIBOR + 0.140% 1.8417% 6/7/18 (a)(b) 30,000,000 30,002,010 
1 month U.S. LIBOR + 0.190% 1.8762% 7/5/18 (a)(b) 30,000,000 29,998,920 
yankee 1.78% 5/1/18 25,000,000 24,954,878 
J.P. Morgan Securities, LLC:   
1 month U.S. LIBOR + 0.180% 1.9566% 5/21/18 (a)(b) 30,000,000 30,005,640 
1 month U.S. LIBOR + 0.190% 1.8601% 8/2/18 (a)(b) 30,000,000 29,989,380 
1 month U.S. LIBOR + 0.220% 1.8842% 6/1/18 (a)(b) 30,000,000 30,008,130 
1 month U.S. LIBOR + 0.220% 1.9379% 8/9/18 (a)(b) 25,000,000 24,991,750 
1 month U.S. LIBOR + 0.230% 1.9696% 9/11/18 (a)(b) 30,000,000 29,982,480 
1 month U.S. LIBOR + 0.440% 2.3169% 10/1/18 (a)(b) 20,000,000 20,007,180 
Liberty Street Funding LLC:   
1 month U.S. LIBOR + 0.130% 1.8479% 5/9/18 (a)(b) 30,000,000 30,003,900 
1 month U.S. LIBOR + 0.200% 1.9766% 8/15/18 (a)(b) 35,000,000 34,984,110 
1.75% 4/9/18 (Liquidity Facility Bank of Nova Scotia) 6,000,000 5,996,728 
Manhattan Asset Funding Co. LLC:   
1 month U.S. LIBOR + 0.190% 1.8762% 6/5/18 (a)(b) 35,000,000 35,006,300 
1.96% 5/16/18 (Liquidity Facility Sumitomo Mitsui Banking Corp.) 30,000,000 29,918,880 
2.23% 6/11/18 (Liquidity Facility Sumitomo Mitsui Banking Corp.) 12,000,000 11,944,969 
2.24% 6/14/18 (Liquidity Facility Sumitomo Mitsui Banking Corp.) 25,000,000 24,879,208 
2.34% 6/21/18 (Liquidity Facility Sumitomo Mitsui Banking Corp.) 2,000,000 1,989,155 
Mitsubishi UFJ Trust & Banking Corp.:   
yankee 1.95% 5/18/18 5,000,000 4,986,716 
1.73% 4/6/18 35,000,000 34,986,746 
1.75% 4/12/18 35,000,000 34,976,438 
1.75% 4/18/18 35,000,000 34,965,837 
1.77% 4/25/18 20,000,000 19,973,196 
1.77% 4/27/18 5,000,000 4,992,766 
Mizuho Corporate Bank Ltd.:   
1.72% 4/2/18 35,000,000 34,993,487 
2.3% 6/15/18 35,000,000 34,835,896 
Natexis Banques Populaires New York Branch yankee:   
1.95% 5/31/18 35,000,000 34,878,176 
2.14% 6/5/18 35,000,000 34,865,331 
National Australia Bank Ltd.:   
1 month U.S. LIBOR + 0.140% 1.8796% 6/11/18 (a)(b) 30,000,000 30,001,020 
1 month U.S. LIBOR + 0.160% 1.8242% 8/1/18 (a)(b) 35,000,000 34,984,495 
yankee 1 month U.S. LIBOR + 0.150% 1.9582% 7/19/18 (a)(b) 30,000,000 29,989,770 
National Bank of Canada:   
1 month U.S. LIBOR + 0.170% 1.8401% 8/2/18 (a)(b) 35,000,000 34,985,160 
yankee 2.25% 6/19/18 35,000,000 34,830,751 
Ontario Teachers' Finance Trust 1 month U.S. LIBOR + 0.170% 1.8717% 9/7/18 (a)(b)(c) 25,000,000 24,979,850 
Rabobank Nederland New York Branch:   
1 month U.S. LIBOR + 0.100% 1.9715% 5/24/18 (a)(b) 30,000,000 30,003,090 
1 month U.S. LIBOR + 0.110% 1.9713% 4/23/18 (a)(b) 30,000,000 30,003,960 
1 month U.S. LIBOR + 0.170% 1.9096% 8/13/18 (a)(b) 35,000,000 34,979,735 
yankee 2.13% 6/4/18 30,000,000 29,889,561 
Royal Bank of Canada yankee:   
2.16% 6/11/18 35,000,000 34,846,830 
2.24% 6/18/18 35,000,000 34,829,193 
Sheffield Receivables Corp. yankee 2% 4/3/18 67,148,000 67,131,259 
Skandinaviska Enskilda Banken AB yankee 2.2% 6/14/18 30,000,000 29,867,946 
Societe Generale yankee 2.1% 5/31/18 35,000,000 34,878,176 
Sumitomo Mitsui Banking Corp. yankee:   
2.15% 6/5/18 5,000,000 4,980,195 
2.15% 6/6/18 5,000,000 4,979,827 
Sumitomo Trust & Banking Co. Ltd. yankee:   
1.71% 4/9/18 35,000,000 34,981,254 
1.75% 4/25/18 35,000,000 34,951,623 
2.3% 6/21/18 30,000,000 29,843,901 
Swedbank AB yankee:   
1.71% 4/16/18 35,000,000 34,970,408 
1.8% 5/9/18 35,000,000 34,931,281 
The Toronto-Dominion Bank:   
1 month U.S. LIBOR + 0.150% 1.8679% 4/9/18 (a)(b) 30,000,000 30,001,200 
1 month U.S. LIBOR + 0.160% 1.8462% 6/5/18 (a)(b) 30,000,000 30,003,720 
1 month U.S. LIBOR + 0.160% 2.0138% 5/22/18 (a)(b) 30,000,000 30,005,700 
1 month U.S. LIBOR + 0.190% 2.0669% 8/28/18 (a)(b) 25,000,000 24,985,825 
1 month U.S. LIBOR + 0.200% 1.965% 11/14/18 (a)(b) 30,000,000 29,963,460 
1 month U.S. LIBOR + 0.210% 1.9496% 10/11/18 (a)(b) 25,000,000 24,977,650 
Toyota Motor Credit Corp.:   
1 month U.S. LIBOR + 0.180% 1.7478% 6/29/18 (a)(b) 30,000,000 30,000,300 
2.25% 6/18/18 35,000,000 34,828,091 
UBS AG London Branch:   
1 month U.S. LIBOR + 0.210% 2.0815% 7/25/18 (a)(b) 35,000,000 34,993,035 
1 month U.S. LIBOR + 0.240% 1.9796% 9/10/18 (a)(b) 35,000,000 34,979,665 
yankee 2.32% 6/20/18 13,500,000 13,432,241 
Westpac Banking Corp.:   
1 month U.S. LIBOR + 0.120% 1.7842% 6/1/18 (a)(b) 35,000,000 35,003,255 
1 month U.S. LIBOR + 0.140% 1.9482% 5/18/18 (a)(b) 30,000,000 30,021,240 
1 month U.S. LIBOR + 0.160% 1.8462% 7/3/18 (a)(b) 20,000,000 19,990,340 
1 month U.S. LIBOR + 0.160% 1.9682% 7/18/18 (a)(b) 30,000,000 29,991,180 
1 month U.S. LIBOR + 0.190% 1.8601% 11/2/18 (a)(b) 35,000,000 34,959,365 
TOTAL COMMERCIAL PAPER   
(Cost $3,415,990,144)  3,415,357,344 
TOTAL INVESTMENT IN SECURITIES - 99.9%   
(Cost $3,415,990,144)  3,415,357,344 
NET OTHER ASSETS (LIABILITIES) - 0.1%  4,263,522 
NET ASSETS - 100%  $3,419,620,866 

Legend

 (a) Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.

 (b) Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and/or subject to caps or floors.

 (c) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $166,761,504 or 4.9% of net assets.


Investment Valuation

All investments are categorized as Level 2 under the Fair Value Hierarchy. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. Additional information on valuation inputs is provided later in this section.

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. Commercial paper are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker supplied prices.

When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.

Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.




Item 2.

Controls and Procedures


(a)(i)  The President and Treasurer and the Chief Financial Officer have concluded that the The North Carolina Capital Management Trust’s (the “Trust”) disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.


(a)(ii)  There was no change in the Trust’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the Trust’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Trust’s internal control over financial reporting.


Item 3.

Exhibits


Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.




SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


The North Carolina Capital Management Trust



By:

/s/Stephanie J. Dorsey


Stephanie J. Dorsey


President and Treasurer



Date:

May 25, 2018


Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.



By:

/s/Stephanie J. Dorsey


Stephanie J. Dorsey


President and Treasurer



Date:

May 25, 2018



By:

/s/Howard J. Galligan III


Howard J. Galligan III


Chief Financial Officer



Date:

May 25, 2018