SEC 13F Intelligence

Managers / Q4 2022 · view latest →

Treasurer of the State of North Carolina

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

Reported Value
$16.4B
Q4 2022
Positions
1,016
Filings on Record
35
2019–present window
Filed
Feb 9, 2023
original filing

Summary

Treasurer Of The State Of North Carolina reported $16.4B in U.S.-listed holdings across 1,016 positions for Q4 2022.

Its largest position, AAPL, represents 5.3% of the portfolio.

Compared with Q3 2022, the fund opened 7 new positions and exited 18.

Portfolio Metrics

Turnover
+3.8%
vs prior filed quarter
Top-10 Concentration
+22.4%
share of reported value
Largest Position
+5.3%
Apple
New / Exited
7 / 18
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: 96.0%REIT: 3.0%Other: 0.9%ETP: 0.1%Tracking Stk: 0.0%
  • Common Stock · 96.0% · $15.8B
  • REIT · 3.0% · $496M
  • Other · 0.9% · $141M
  • ETP · 0.1% · $10M
  • Tracking Stk · 0.0% · $7M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
TEAMATLASSIAN CORPORATIONNEW+64.5K64.5K+$8M$8M
UHAL/BU HAUL HOLDING COMPANYNEW+35.2K35.2K+$2M$2M
RXORXO INCNEW+44.4K44.4K+$764,000$764,000
CRBGCOREBRIDGE FINL INCNEW+34.8K34.8K+$698,000$698,000
MBCMASTERBRAND INCNEW+56.0K56.0K+$423,000$423,000
SHOCKWAVE MED INCNEW+2.0K2.0K+$417,000$417,000
FGF&G ANNUITIES & LIFE INCNEW+12.8K12.8K+$256,000$256,000
TECHBIO-TECHNE CORPADDED+52.6K69.8K+$898,000$6M

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

Holdings — Q4 2022

499 positions (from 500 filing rows — )
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AAPLAPPLE INChistory →COM5.31%$872M6.71M
2MSFTMICROSOFT CORPhistory →COM4.86%$798M3.33M
3GOOGLALPHABET INCCAP STK CL A · CAP STK CL C2.77%$455M5.15M
4AMZNAMAZON COM INChistory →COM2.02%$333M3.96M
5BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW1.48%$243M785.2K
6UNHUNITEDHEALTH GROUP INChistory →COM1.41%$232M437.9K
7JNJJOHNSON & JOHNSONhistory →COM1.34%$219M1.24M
8EXMOCEXXON MOBIL CORPhistory →COM1.23%$202M1.83M
9JPMJPMORGAN CHASE & COhistory →COM1.05%$172M1.28M
10PGPROCTER AND GAMBLE COhistory →COM0.97%$159M1.05M
11VVISA INChistory →COM CL A0.96%$158M761.9K
12CVXCHEVRON CORP NEWhistory →COM0.93%$153M853.3K
13NVDANVIDIA CORPORATIONhistory →COM0.93%$153M1.05M
14HDHOME DEPOT INChistory →COM0.92%$152M479.9K
15LLYLILLY ELI & COhistory →COM0.88%$144M394.9K
16TSLATESLA INChistory →COM0.87%$143M1.16M
17PFEPFIZER INChistory →COM0.84%$139M2.71M
18MRKMERCK & CO INChistory →COM0.83%$136M1.22M
19ABBVABBVIE INChistory →COM0.82%$135M836.1K
20MAMASTERCARD INCORPORATEDhistory →CL A0.82%$135M387.5K
21METAMETA PLATFORMS INChistory →CL A0.78%$128M1.06M
22PEPPEPSICO INChistory →COM0.68%$112M620.5K
23KOCOCA COLA COhistory →COM0.68%$111M1.75M
24BACBANK AMERICA CORPhistory →COM0.64%$104M3.15M
25TMOTHERMO FISHER SCIENTIFIC INChistory →COM0.61%$99M180.5K
26AVGOBROADCOM INChistory →COM0.59%$97M172.8K
27CSCOCISCO SYS INChistory →COM0.59%$96M2.02M
28MCDMCDONALDS CORPhistory →COM0.57%$93M354.7K
29COSTCOSTCO WHSL CORP NEWhistory →COM0.55%$91M199.1K
30WMTWALMART INChistory →COM0.54%$89M629.0K
31ABTABBOTT LABShistory →COM0.53%$87M789.6K
32DHRDANAHER CORPORATIONhistory →COM0.49%$80M301.3K
33ACNACCENTURE PLC IRELANDhistory →SHS CLASS A0.49%$80M299.4K
34VZVERIZON COMMUNICATIONS INChistory →COM0.46%$76M1.93M
35BMYBRISTOL-MYERS SQUIBB COhistory →COM0.44%$72M1.01M
36PMPHILIP MORRIS INTL INChistory →COM0.44%$72M714.4K
37NEENEXTERA ENERGY INChistory →COM0.44%$72M863.1K
38DISDISNEY WALT COhistory →COM0.43%$71M818.0K
39LINDE PLCSHS0.43%$70M215.8K
40WFCWELLS FARGO CO NEWhistory →COM0.43%$70M1.70M
41TXNTEXAS INSTRS INChistory →COM0.42%$70M421.4K
42ADBEADOBE SYSTEMS INCORPORATEDhistory →COM0.42%$70M206.9K
43COPCONOCOPHILLIPShistory →COM0.42%$69M584.7K
44CMCSACOMCAST CORP NEWhistory →CL A0.41%$67M1.93M
45AMGNAMGEN INChistory →COM0.40%$66M251.3K
46RTXRAYTHEON TECHNOLOGIES CORPhistory →COM0.39%$64M638.8K
47NKENIKE INChistory →CL B0.39%$64M548.5K
48HONHONEYWELL INTL INChistory →COM0.38%$63M292.9K
49TAT&T INChistory →COM0.37%$62M3.34M
50ELVELEVANCE HEALTH INChistory →COM0.37%$60M117.3K
51ORCLORACLE CORPhistory →COM0.36%$60M732.0K
52NFLXNETFLIX INChistory →COM0.36%$60M202.1K
53IBMINTERNATIONAL BUSINESS MACHShistory →COM0.36%$59M417.6K
54LMTLOCKHEED MARTIN CORPhistory →COM0.36%$58M119.9K
55LOWLOWES COS INChistory →COM0.35%$58M292.3K
56QCOMQUALCOMM INChistory →COM0.35%$58M527.3K
57UPSUNITED PARCEL SERVICE INChistory →CL B0.35%$57M329.9K
58CRMSALESFORCE INChistory →COM0.34%$57M427.4K
59GILDGILEAD SCIENCES INChistory →COM0.34%$57M658.3K
60SCHWSCHWAB CHARLES CORPhistory →COM0.34%$56M676.2K
61CATCATERPILLAR INChistory →COM0.34%$56M234.6K
62CVSCVS HEALTH CORPhistory →COM0.34%$56M598.3K
63UNPUNION PAC CORPhistory →COM0.34%$55M267.1K
64DEDEERE & COhistory →COM0.32%$53M123.8K
65GSGOLDMAN SACHS GROUP INChistory →COM0.31%$51M149.1K
66MDTMEDTRONIC PLChistory →SHS0.31%$50M649.1K
67ADPAUTOMATIC DATA PROCESSING INhistory →COM0.30%$50M208.7K
68INTUINTUIThistory →COM0.30%$50M127.5K
69SBUXSTARBUCKS CORPhistory →COM0.30%$50M499.8K
70INTCINTEL CORPhistory →COM0.30%$49M1.86M
71CICIGNA CORP NEWhistory →COM0.30%$49M147.9K
72SPGIS&P GLOBAL INChistory →COM0.30%$49M146.2K
73BLACKROCK INCCOM0.29%$47M66.9K
74PLDPROLOGIS INC.history →COM0.28%$46M404.6K
75MSMORGAN STANLEYhistory →COM NEW0.28%$46M535.8K
76AMDADVANCED MICRO DEVICES INChistory →COM0.28%$45M701.9K
77BABOEING COhistory →COM0.28%$45M238.1K
78AMTAMERICAN TOWER CORP NEWhistory →COM0.27%$44M208.3K
79AXPAMERICAN EXPRESS COhistory →COM0.26%$43M291.4K
80CBCHUBB LIMITEDhistory →COM0.26%$43M193.5K
81REGNREGENERON PHARMACEUTICALShistory →COM0.26%$43M59.0K
82TJXTJX COS INC NEWhistory →COM0.26%$42M533.5K
83MDLZMONDELEZ INTL INChistory →CL A0.25%$41M612.0K
84ISRGINTUITIVE SURGICAL INChistory →COM NEW0.25%$41M153.1K
85SLBSCHLUMBERGER LTDhistory →COM STK0.25%$40M754.9K
86AMATAPPLIED MATLS INChistory →COM0.24%$40M412.5K
87GENERAL ELECTRIC COCOM NEW0.24%$40M475.9K
88MRSHMARSH & MCLENNAN COS INChistory →COM0.24%$40M240.9K
89ADIANALOG DEVICES INChistory →COM0.24%$40M242.7K
90CCITIGROUP INChistory →COM NEW0.24%$39M868.2K
91PYPLPAYPAL HLDGS INChistory →COM0.23%$38M540.2K
92VRTXVERTEX PHARMACEUTICALS INChistory →COM0.23%$38M131.6K
93MOALTRIA GROUP INChistory →COM0.23%$38M824.8K
94SYKSTRYKER CORPORATIONhistory →COM0.23%$37M152.9K
95BKNGBOOKING HOLDINGS INChistory →COM0.22%$37M18.2K
96TMUST-MOBILE US INChistory →COM0.22%$36M258.9K
97EOGEOG RES INChistory →COM0.22%$36M277.0K
98PGRPROGRESSIVE CORPhistory →COM0.22%$36M276.4K
99NOCNORTHROP GRUMMAN CORPhistory →COM0.21%$35M64.5K
100MRNAMODERNA INChistory →COM0.21%$35M194.3K

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 ↗.