SEC 13F Intelligence

Managers / Q1 2023 · view latest →

Treasurer of the State of North Carolina

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

Reported Value
$17.6B
Q1 2023
Positions
1,014
Filings on Record
35
2019–present window
Filed
May 4, 2023
original filing

Summary

Treasurer Of The State Of North Carolina reported $17.6B in U.S.-listed holdings across 1,014 positions for Q1 2023.

Its largest position, AAPL, represents 6.3% of the portfolio.

Compared with Q4 2022, the fund opened 8 new positions and exited 10.

Portfolio Metrics

Turnover
+3.9%
vs prior filed quarter
Top-10 Concentration
+25.1%
share of reported value
Largest Position
+6.3%
Apple
New / Exited
8 / 10
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: 96.6%REIT: 2.8%Other: 0.4%ETP: 0.1%Tracking Stk: 0.0%
  • Common Stock · 96.6% · $17.0B
  • REIT · 2.8% · $500M
  • Other · 0.4% · $73M
  • ETP · 0.1% · $9M
  • Tracking Stk · 0.0% · $9M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
LINLINDE PLCNEW+216.3K216.3K+$77M$77M
GEHCGE HEALTHCARE TECHNOLOGIES INEW+159.8K159.8K+$13M$13M
COLBCOLUMBIA BKG SYS INCNEW+90.5K90.5K+$2M$2M
RITCHIE BROS AUCTIONEERSNEW+30.7K30.7K+$2M$2M
NUNU HLDGS LTDNEW+149.5K149.5K+$712,000$712,000
EHABUSDENHABIT INCNEW+21.4K21.4K+$298,000$298,000
ICLRICON PLCNEW+1.1K1.1K+$243,000$243,000
VTSVITESSE ENERGY INCNEW+10.8K10.8K+$205,000$205,000

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

Holdings — Q1 2023

499 positions (from 500 filing rows — )
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AAPLAPPLE INChistory →COM6.31%$1.1B6.75M
2MSFTMICROSOFT CORPhistory →COM5.48%$965M3.35M
3GOOGLALPHABET INCCAP STK CL A · CAP STK CL C3.04%$535M5.15M
4AMZNAMAZON COM INChistory →COM2.34%$412M3.99M
5NVDANVIDIA CORPORATIONhistory →COM1.63%$288M1.04M
6BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW1.39%$244M790.8K
7TSLATESLA INChistory →COM1.38%$243M1.17M
8METAMETA PLATFORMS INChistory →CL A1.25%$221M1.04M
9UNHUNITEDHEALTH GROUP INChistory →COM1.18%$208M440.3K
10EXMOCEXXON MOBIL CORPhistory →COM1.14%$201M1.83M
11JNJJOHNSON & JOHNSONhistory →COM1.10%$194M1.25M
12VVISA INChistory →COM CL A0.97%$172M760.9K
13JPMJPMORGAN CHASE & COhistory →COM0.96%$169M1.29M
14PGPROCTER AND GAMBLE COhistory →COM0.90%$159M1.07M
15MAMASTERCARD INCORPORATEDhistory →CL A0.81%$142M390.5K
16HDHOME DEPOT INChistory →COM0.78%$138M468.2K
17CVXCHEVRON CORP NEWhistory →COM0.78%$138M846.5K
18LLYLILLY ELI & COhistory →COM0.78%$137M400.1K
19ABBVABBVIE INChistory →COM0.77%$135M848.3K
20MRKMERCK & CO INChistory →COM0.74%$131M1.23M
21PEPPEPSICO INChistory →COM0.65%$114M624.4K
22PFEPFIZER INChistory →COM0.64%$112M2.75M
23AVGOBROADCOM INChistory →COM0.63%$112M174.0K
24KOCOCA COLA COhistory →COM0.62%$109M1.76M
25TMOTHERMO FISHER SCIENTIFIC INChistory →COM0.60%$106M184.4K
26CSCOCISCO SYS INChistory →COM0.60%$106M2.03M
27WMTWALMART INChistory →COM0.55%$97M657.3K
28MCDMCDONALDS CORPhistory →COM0.55%$96M345.0K
29COSTCOSTCO WHSL CORP NEWhistory →COM0.55%$96M193.8K
30BACBANK AMERICA CORPhistory →COM0.51%$91M3.17M
31CRMSALESFORCE INChistory →COM0.49%$87M436.2K
32ACNACCENTURE PLC IRELANDhistory →SHS CLASS A0.48%$84M294.2K
33ABTABBOTT LABShistory →COM0.47%$83M820.2K
34DISDISNEY WALT COhistory →COM0.47%$82M823.2K
35ADBEADOBE SYSTEMS INCORPORATEDhistory →COM0.46%$81M209.5K
36TXNTEXAS INSTRS INChistory →COM0.45%$79M424.2K
37DHRDANAHER CORPORATIONhistory →COM0.44%$77M305.9K
38LINLINDE PLChistory →SHS0.44%$77M216.3K
39VZVERIZON COMMUNICATIONS INChistory →COM0.43%$76M1.96M
40CMCSACOMCAST CORP NEWhistory →CL A0.43%$76M1.99M
41BMYBRISTOL-MYERS SQUIBB COhistory →COM0.40%$71M1.03M
42NFLXNETFLIX INChistory →COM0.40%$70M203.4K
43PMPHILIP MORRIS INTL INChistory →COM0.40%$70M717.9K
44AMDADVANCED MICRO DEVICES INChistory →COM0.39%$69M707.0K
45ORCLORACLE CORPhistory →COM0.39%$68M733.5K
46QCOMQUALCOMM INChistory →COM0.38%$68M531.0K
47NEENEXTERA ENERGY INChistory →COM0.38%$67M869.2K
48NKENIKE INChistory →CL B0.38%$67M543.5K
49TAT&T INChistory →COM0.37%$66M3.42M
50INTCINTEL CORPhistory →COM0.37%$65M1.99M
51WFCWELLS FARGO CO NEWhistory →COM0.37%$65M1.73M
52UPSUNITED PARCEL SERVICE INChistory →CL B0.37%$64M331.9K
53RTXRAYTHEON TECHNOLOGIES CORPhistory →COM0.36%$63M643.4K
54AMGNAMGEN INChistory →COM0.35%$62M255.3K
55COPCONOCOPHILLIPShistory →COM0.33%$57M579.5K
56INTUINTUIThistory →COM0.32%$57M128.2K
57HONHONEYWELL INTL INChistory →COM0.32%$57M297.1K
58IBMINTERNATIONAL BUSINESS MACHShistory →COM0.32%$56M428.2K
59ELVELEVANCE HEALTH INChistory →COM0.31%$55M119.6K
60GILDGILEAD SCIENCES INChistory →COM0.31%$55M661.1K
61UNPUNION PAC CORPhistory →COM0.31%$54M269.0K
62LMTLOCKHEED MARTIN CORPhistory →COM0.30%$54M113.6K
63SBUXSTARBUCKS CORPhistory →COM0.30%$53M510.1K
64LOWLOWES COS INChistory →COM0.30%$53M264.8K
65MDTMEDTRONIC PLChistory →SHS0.30%$53M654.0K
66CATCATERPILLAR INChistory →COM0.30%$53M230.0K
67PLDPROLOGIS INC.history →COM0.29%$52M414.4K
68BABOEING COhistory →COM0.29%$52M242.5K
69DEDEERE & COhistory →COM0.29%$51M122.7K
70AMATAPPLIED MATLS INChistory →COM0.28%$50M407.1K
71BKNGBOOKING HOLDINGS INChistory →COM0.28%$49M18.6K
72REGNREGENERON PHARMACEUTICALShistory →COM0.28%$49M59.4K
73SPGIS&P GLOBAL INChistory →COM0.28%$49M140.8K
74GSGOLDMAN SACHS GROUP INChistory →COM0.28%$48M148.2K
75AXPAMERICAN EXPRESS COhistory →COM0.27%$48M291.3K
76MSMORGAN STANLEYhistory →COM NEW0.27%$48M541.9K
77ADPAUTOMATIC DATA PROCESSING INhistory →COM0.27%$47M212.7K
78ADIANALOG DEVICES INChistory →COM0.26%$46M234.6K
79GENERAL ELECTRIC COCOM NEW0.26%$45M474.4K
80SYKSTRYKER CORPORATIONhistory →COM0.25%$45M157.4K
81BLACKROCK INCCOM0.25%$45M66.8K
82CVSCVS HEALTH CORPhistory →COM0.25%$44M594.4K
83MDLZMONDELEZ INTL INChistory →CL A0.24%$43M615.8K
84AMTAMERICAN TOWER CORP NEWhistory →COM0.24%$43M209.6K
85TJXTJX COS INC NEWhistory →COM0.24%$42M536.8K
86VRTXVERTEX PHARMACEUTICALS INChistory →COM0.24%$42M133.1K
87NOWSERVICENOW INChistory →COM0.24%$42M89.8K
88PYPLPAYPAL HLDGS INChistory →COM0.23%$41M543.1K
89CCITIGROUP INChistory →COM NEW0.23%$41M873.6K
90ISRGINTUITIVE SURGICAL INChistory →COM NEW0.23%$40M157.5K
91PGRPROGRESSIVE CORPhistory →COM0.22%$40M276.8K
92CBCHUBB LIMITEDhistory →COM0.22%$38M197.8K
93CITHE CIGNA GROUPhistory →COM0.21%$37M146.1K
94MRSHMARSH & MCLENNAN COS INChistory →COM0.21%$37M223.7K
95TMUST-MOBILE US INChistory →COM0.21%$37M256.7K
96SCHWSCHWAB CHARLES CORPhistory →COM0.20%$36M686.4K
97TGTTARGET CORPhistory →COM0.20%$35M214.3K
98ZTSZOETIS INChistory →CL A0.20%$35M212.0K
99MOALTRIA GROUP INChistory →COM0.20%$35M784.7K
100LAM RESEARCH CORPCOM0.20%$34M65.0K

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 ↗.