SEC 13F Intelligence

Managers / Q4 2021 · view latest →

Treasurer of the State of North Carolina

CIK 0001761054 · 3200 ATLANTIC AVENUE, RALEIGH, NC, 27604 · 9198144330

Reported Value
$18.9B
Q4 2021
Positions
1,038
Filings on Record
35
2019–present window
Filed
Feb 14, 2022
original filing

Summary

Treasurer Of The State Of North Carolina reported $18.9B in U.S.-listed holdings across 1,038 positions for Q4 2021.

Its largest position, AAPL, represents 6.2% of the portfolio.

Compared with Q3 2021, the fund opened 16 new positions and exited 11.

Portfolio Metrics

Turnover
+2.3%
vs prior filed quarter
Top-10 Concentration
+27.7%
share of reported value
Largest Position
+6.2%
Apple
New / Exited
16 / 11
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q1 ’19: $41MQ1 ’19Q3 ’19: $11.1BQ4 ’19: $12.1BQ1 ’20: $11.3BQ2 ’20: $12.1BQ2 ’20Q3 ’20: $13.2BQ4 ’20: $15.0BQ1 ’21: $15.9BQ2 ’21: $17.2BQ2 ’21Q3 ’21: $17.3BQ4 ’21: $18.9BQ1 ’22: $18.1BQ2 ’22: $15.8BQ2 ’22Q3 ’22: $15.1BQ4 ’22: $16.4BQ1 ’23: $17.6BQ2 ’23: $19.1BQ2 ’23Q3 ’23: $18.5BQ4 ’23: $20.7BQ1 ’24: $22.8BQ2 ’24: $23.6BQ2 ’24Q3 ’24: $25.0BQ4 ’24: $25.7BQ1 ’25: $25.1BQ2 ’25: $31.2BQ2 ’25Q3 ’25: $32.5BQ4 ’25: $31.2BQ1 ’26: $31.8Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 96.1%REIT: 3.1%Other: 0.7%ETP: 0.0%Tracking Stk: 0.0%
  • Common Stock · 96.1% · $18.2B
  • REIT · 3.1% · $588M
  • Other · 0.7% · $135M
  • ETP · 0.0% · $8M
  • Tracking Stk · 0.0% · $5M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
RIVNRIVIAN AUTOMOTIVE INCNEW+60.6K60.6K+$6M$6M
WOLFSPEED INCNEW+41.8K41.8K+$5M$5M
LUCID GROUP INCNEW+97.3K97.3K+$4M$4M
KDKYNDRYL HLDGS INCNEW+95.2K95.2K+$2M$2M
MANDIANT INCNEW+85.0K85.0K+$1M$1M
GFSGLOBALFOUNDRIES INCNEW+19.0K19.0K+$1M$1M
OLAPLEX HLDGS INCNEW+29.3K29.3K+$853,000$853,000
DVDOUBLEVERIFY HLDGS INCNEW+18.7K18.7K+$624,000$624,000

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2021

499 positions (from 500 filing rows — )
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AAPLAPPLE INChistory →COM6.18%$1.2B6.59M
2MSFTMICROSOFT CORPhistory →COM5.69%$1.1B3.20M
3GOOGLALPHABET INCCAP STK CL A · CAP STK CL C3.78%$716M247.2K
4AMZNAMAZON COM INChistory →COM3.29%$624M187.0K
5TSLATESLA INChistory →COM1.92%$363M343.9K
6METAMETA PLATFORMS INChistory →CL A1.83%$346M1.03M
7NVDANVIDIA CORPORATIONhistory →COM1.58%$299M1.02M
8BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW1.25%$236M790.8K
9UNHUNITEDHEALTH GROUP INChistory →COM1.09%$207M412.9K
10JPMJPMORGAN CHASE & COhistory →COM1.05%$200M1.26M
11JNJJOHNSON & JOHNSONhistory →COM1.04%$198M1.16M
12HDHOME DEPOT INChistory →COM0.99%$188M452.1K
13PGPROCTER AND GAMBLE COhistory →COM0.91%$173M1.06M
14VVISA INChistory →COM CL A0.82%$156M719.7K
15PFEPFIZER INChistory →COM0.78%$147M2.49M
16BACBK OF AMERICA CORPhistory →COM0.73%$137M3.09M
17MAMASTERCARD INCORPORATEDhistory →CL A0.71%$134M372.0K
18DISDISNEY WALT COhistory →COM0.65%$123M797.0K
19NFLXNETFLIX INChistory →COM0.61%$116M193.1K
20ADBEADOBE SYSTEMS INCORPORATEDhistory →COM0.61%$115M203.0K
21TMOTHERMO FISHER SCIENTIFIC INChistory →COM0.61%$115M172.5K
22CSCOCISCO SYS INChistory →COM0.61%$115M1.81M
23AVGOBROADCOM INChistory →COM0.60%$113M169.7K
24ACNACCENTURE PLC IRELANDhistory →SHS CLASS A0.59%$112M270.4K
25EXMOCEXXON MOBIL CORPhistory →COM0.58%$110M1.80M
26COSTCOSTCO WHSL CORP NEWhistory →COM0.58%$110M194.0K
27ABTABBOTT LABShistory →COM0.57%$107M762.7K
28LLYLILLY ELI & COhistory →COM0.56%$106M382.7K
29PEPPEPSICO INChistory →COM0.56%$105M606.4K
30ABBVABBVIE INChistory →COM0.55%$105M776.1K
31CRMSALESFORCE COM INChistory →COM0.54%$102M400.2K
32KOCOCA COLA COhistory →COM0.53%$101M1.70M
33CMCSACOMCAST CORP NEWhistory →CL A0.53%$101M2.00M
34CVXCHEVRON CORP NEWhistory →COM0.52%$98M831.5K
35VZVERIZON COMMUNICATIONS INChistory →COM0.50%$95M1.83M
36PYPLPAYPAL HLDGS INChistory →COM0.50%$94M499.6K
37DHRDANAHER CORPORATIONhistory →COM0.48%$92M278.4K
38NKENIKE INChistory →CL B0.48%$91M544.1K
39QCOMQUALCOMM INChistory →COM0.47%$90M490.1K
40INTCINTEL CORPhistory →COM0.47%$90M1.74M
41WMTWALMART INChistory →COM0.47%$88M609.9K
42MCDMCDONALDS CORPhistory →COM0.46%$88M327.8K
43MRKMERCK & CO INChistory →COM0.45%$86M1.12M
44WFCWELLS FARGO CO NEWhistory →COM0.44%$84M1.76M
45NEENEXTERA ENERGY INChistory →COM0.42%$80M860.7K
46TAT&T INChistory →COM0.41%$77M3.14M
47LOWLOWES COS INChistory →COM0.41%$77M297.0K
48AMDADVANCED MICRO DEVICES INChistory →COM0.40%$76M525.1K
49TXNTEXAS INSTRS INChistory →COM0.39%$74M392.7K
50INTUINTUIThistory →COM0.38%$73M112.9K
51UNPUNION PAC CORPhistory →COM0.37%$70M277.7K
52UPSUNITED PARCEL SERVICE INChistory →CL B0.36%$68M317.7K
53ORCLORACLE CORPhistory →COM0.33%$63M723.5K
54PMPHILIP MORRIS INTL INChistory →COM0.33%$63M662.1K
55HONHONEYWELL INTL INChistory →COM0.33%$62M295.4K
56BMYBRISTOL-MYERS SQUIBB COhistory →COM0.32%$61M980.9K
57MDTMEDTRONIC PLChistory →SHS0.32%$61M589.3K
58AMATAPPLIED MATLS INChistory →COM0.32%$60M383.0K
59CVSCVS HEALTH CORPhistory →COM0.31%$60M577.7K
60SBUXSTARBUCKS CORPhistory →COM0.31%$59M501.0K
61AMTAMERICAN TOWER CORP NEWhistory →COM0.31%$58M198.1K
62AMGNAMGEN INChistory →COM0.30%$56M249.2K
63MSMORGAN STANLEYhistory →COM NEW0.30%$56M569.3K
64BLACKROCK INCCOM0.29%$56M60.8K
65SCHWSCHWAB CHARLES CORPhistory →COM0.29%$56M660.2K
66RTXRAYTHEON TECHNOLOGIES CORPhistory →COM0.29%$55M636.4K
67NOWSERVICENOW INChistory →COM0.29%$54M83.8K
68ISRGINTUITIVE SURGICAL INChistory →COM NEW0.29%$54M150.6K
69GSGOLDMAN SACHS GROUP INChistory →COM0.28%$53M139.5K
70PLDPROLOGIS INC.history →COM0.28%$53M313.4K
71IBMINTERNATIONAL BUSINESS MACHShistory →COM0.28%$52M392.3K
72CCITIGROUP INChistory →COM NEW0.27%$51M843.5K
73ZTSZOETIS INChistory →CL A0.27%$51M208.0K
74TGTTARGET CORPhistory →COM0.26%$50M215.9K
75ELVANTHEM INChistory →COM0.26%$50M107.5K
76CATCATERPILLAR INChistory →COM0.26%$49M237.5K
77SPGIS&P GLOBAL INChistory →COM0.26%$48M102.3K
78GILDGILEAD SCIENCES INChistory →COM0.24%$46M636.9K
79BABOEING COhistory →COM0.24%$46M227.7K
80GENERAL ELECTRIC COCOM NEW0.24%$45M479.2K
81MMM3M COhistory →COM0.24%$45M253.8K
82ADPAUTOMATIC DATA PROCESSING INhistory →COM0.24%$45M180.8K
83AXPAMERICAN EXPRESS COhistory →COM0.24%$45M272.3K
84MUMICRON TECHNOLOGY INChistory →COM0.23%$44M476.3K
85MRNAMODERNA INChistory →COM0.23%$44M171.4K
86BKNGBOOKING HOLDINGS INChistory →COM0.23%$43M18.0K
87LAM RESEARCH CORPCOM0.23%$43M59.8K
88DEDEERE & COhistory →COM0.22%$42M122.4K
89COPCONOCOPHILLIPShistory →COM0.22%$42M579.1K
90MDLZMONDELEZ INTL INChistory →CL A0.21%$41M611.9K
91ADIANALOG DEVICES INChistory →COM0.21%$40M228.1K
92TJXTJX COS INC NEWhistory →COM0.21%$40M528.0K
93SYKSTRYKER CORPORATIONhistory →COM0.21%$40M148.2K
94CCICROWN CASTLE INTL CORP NEWhistory →COM0.21%$39M189.1K
95MRSHMARSH & MCLENNAN COS INChistory →COM0.20%$39M222.9K
96BXBLACKSTONE INChistory →COM0.20%$37M289.4K
97LMTLOCKHEED MARTIN CORPhistory →COM0.20%$37M105.3K
98MOALTRIA GROUP INChistory →COM0.20%$37M787.2K
99SHWSHERWIN WILLIAMS COhistory →COM0.20%$37M105.5K
100ELLAUDER ESTEE COS INChistory →CL A0.20%$37M100.3K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$31.8B1,006May 14, 202613F-HRchanges · EDGAR ↗
Q4 2025$31.2B1,010Feb 13, 202613F-HRchanges · EDGAR ↗
Q3 2025$32.5B1,010Nov 13, 202513F-HRchanges · EDGAR ↗
Q2 2025$31.2B1,015Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$25.1B1,007May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$25.7B1,013Feb 13, 202513F-HRchanges · EDGAR ↗
Q3 2024$25.0B1,021Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$23.6B1,020Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$22.8B1,011May 9, 202413F-HRchanges · EDGAR ↗
Q4 2023$20.7B1,016May 9, 2024RESTATEMENTchanges · EDGAR ↗
Q3 2023$18.5B1,015Nov 13, 202313F-HRchanges · EDGAR ↗
Q2 2023$19.1B1,014Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$17.6B1,014May 4, 202313F-HRchanges · EDGAR ↗
Q4 2022$16.4B1,016Feb 9, 202313F-HRchanges · EDGAR ↗
Q3 2022$15.1B1,027Nov 8, 202213F-HRchanges · EDGAR ↗
Q2 2022$15.8B1,030Aug 2, 202213F-HRchanges · EDGAR ↗
Q1 2022$18.1B1,029May 10, 202213F-HRchanges · EDGAR ↗
Q4 2021$18.9B1,038Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$17.3B1,033Nov 3, 202113F-HRchanges · EDGAR ↗
Q2 2021$17.2B1,033Aug 13, 202113F-HRchanges · EDGAR ↗
Q1 2021$15.9B1,034May 3, 202113F-HRchanges · EDGAR ↗
Q4 2020$15.0B1,030Feb 2, 202113F-HRchanges · EDGAR ↗
Q3 2020$13.2B1,020Nov 4, 202013F-HRchanges · EDGAR ↗
Q2 2020$12.1B1,009Aug 7, 202013F-HRchanges · EDGAR ↗
Q1 2020$11.3B1,001May 13, 202013F-HRchanges · EDGAR ↗
Q4 2019$12.1B1,001Feb 12, 202013F-HRchanges · EDGAR ↗
Q3 2019$11.1B1,000Nov 7, 201913F-HRchanges · EDGAR ↗
Q2 2019Under review1,008Aug 23, 201913F-HRchanges · EDGAR ↗
Q1 2019$41M90May 6, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.