SEC 13F Intelligence

Managers / Q2 2023 · view latest →

Treasurer of the State of North Carolina

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

Reported Value
$19.1B
Q2 2023
Positions
1,014
Filings on Record
35
2019–present window
Filed
Aug 14, 2023
original filing

Summary

Treasurer Of The State Of North Carolina reported $19.1B in U.S.-listed holdings across 1,014 positions for Q2 2023.

Its largest position, AAPL, represents 6.8% of the portfolio.

Compared with Q1 2023, the fund opened 33 new positions and exited 33.

Portfolio Metrics

Turnover
+2.6%
vs prior filed quarter
Top-10 Concentration
+27.8%
share of reported value
Largest Position
+6.8%
Apple
New / Exited
33 / 33
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: 96.8%REIT: 2.7%Other: 0.5%ETP: 0.1%Tracking Stk: 0.0%
  • Common Stock · 96.8% · $18.5B
  • REIT · 2.7% · $506M
  • Other · 0.5% · $88M
  • ETP · 0.1% · $14M
  • Tracking Stk · 0.0% · $7M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
FERGUSON PLC NEWNEW+92.7K92.7K+$15M$15M
CNHCNH INDL N VNEW+427.2K427.2K+$6M$6M
RBARB GLOBAL INCNEW+79.4K79.4K+$5M$5M
SHOCKWAVE MED INCNEW+16.3K16.3K+$5M$5M
INSPINSPIRE MED SYS INCNEW+12.6K12.6K+$4M$4M
SAIASAIA INCNEW+11.6K11.6K+$4M$4M
APELLIS PHARMACEUTICALS INCNEW+43.6K43.6K+$4M$4M
EMEEMCOR GROUP INCNEW+20.5K20.5K+$4M$4M

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

Holdings — Q2 2023

499 positions (from 500 filing rows — )
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AAPLAPPLE INChistory →COM6.79%$1.3B6.68M
2MSFTMICROSOFT CORPhistory →COM5.93%$1.1B3.32M
3GOOGLALPHABET INCCAP STK CL A · CAP STK CL C3.19%$609M5.06M
4AMZNAMAZON COM INChistory →COM2.76%$528M4.05M
5NVDANVIDIA CORPORATIONhistory →COM2.32%$442M1.05M
6TSLATESLA INChistory →COM1.71%$325M1.24M
7METAMETA PLATFORMS INChistory →CL A1.54%$295M1.03M
8BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW1.43%$274M802.2K
9UNHUNITEDHEALTH GROUP INChistory →COM1.09%$209M434.3K
10JNJJOHNSON & JOHNSONhistory →COM1.06%$202M1.22M
11EXMOCEXXON MOBIL CORPhistory →COM1.01%$194M1.81M
12JPMJPMORGAN CHASE & COhistory →COM1.00%$191M1.31M
13LLYLILLY ELI & COhistory →COM0.98%$187M398.8K
14VVISA INChistory →COM CL A0.96%$183M768.8K
15PGPROCTER AND GAMBLE COhistory →COM0.86%$165M1.09M
16AVGOBROADCOM INChistory →COM0.84%$160M184.8K
17MAMASTERCARD INCORPORATEDhistory →CL A0.81%$154M392.0K
18HDHOME DEPOT INChistory →COM0.74%$142M457.3K
19MRKMERCK & CO INChistory →COM0.74%$142M1.23M
20CVXCHEVRON CORP NEWhistory →COM0.62%$119M756.4K
21ABBVABBVIE INChistory →COM0.60%$115M855.0K
22PEPPEPSICO INChistory →COM0.60%$115M620.8K
23KOCOCA COLA COhistory →COM0.56%$106M1.77M
24COSTCOSTCO WHSL CORP NEWhistory →COM0.55%$106M196.3K
25CSCOCISCO SYS INChistory →COM0.55%$104M2.02M
26WMTWALMART INChistory →COM0.54%$104M659.6K
27ADBEADOBE SYSTEMS INCORPORATEDhistory →COM0.54%$103M211.1K
28MCDMCDONALDS CORPhistory →COM0.53%$101M339.0K
29PFEPFIZER INChistory →COM0.53%$101M2.74M
30TMOTHERMO FISHER SCIENTIFIC INChistory →COM0.50%$95M182.0K
31CRMSALESFORCE INChistory →COM0.48%$91M429.6K
32ORCLORACLE CORPhistory →COM0.47%$90M757.5K
33BACBANK AMERICA CORPhistory →COM0.47%$90M3.14M
34ABTABBOTT LABShistory →COM0.47%$90M825.5K
35NFLXNETFLIX INChistory →COM0.47%$90M203.3K
36ACNACCENTURE PLC IRELANDhistory →SHS CLASS A0.46%$88M285.6K
37LINLINDE PLChistory →SHS0.43%$82M214.6K
38CMCSACOMCAST CORP NEWhistory →CL A0.43%$81M1.96M
39AMDADVANCED MICRO DEVICES INChistory →COM0.42%$80M706.2K
40TXNTEXAS INSTRS INChistory →COM0.40%$76M421.2K
41DHRDANAHER CORPORATIONhistory →COM0.39%$74M308.8K
42VZVERIZON COMMUNICATIONS INChistory →COM0.39%$74M1.99M
43DISDISNEY WALT COhistory →COM0.39%$74M824.1K
44WFCWELLS FARGO CO NEWhistory →COM0.38%$73M1.70M
45PMPHILIP MORRIS INTL INChistory →COM0.36%$69M707.0K
46BMYBRISTOL-MYERS SQUIBB COhistory →COM0.35%$67M1.05M
47INTCINTEL CORPhistory →COM0.35%$66M1.98M
48NEENEXTERA ENERGY INChistory →COM0.34%$66M885.5K
49RTXRAYTHEON TECHNOLOGIES CORPhistory →COM0.34%$65M659.8K
50HONHONEYWELL INTL INChistory →COM0.33%$62M300.7K
51QCOMQUALCOMM INChistory →COM0.32%$62M518.4K
52IBMINTERNATIONAL BUSINESS MACHShistory →COM0.32%$61M456.0K
53NKENIKE INChistory →CL B0.32%$61M548.5K
54COPCONOCOPHILLIPShistory →COM0.31%$59M574.1K
55LOWLOWES COS INChistory →COM0.31%$59M261.0K
56UPSUNITED PARCEL SERVICE INChistory →CL B0.31%$59M326.4K
57INTUINTUIThistory →COM0.31%$58M127.1K
58SPGIS&P GLOBAL INChistory →COM0.30%$58M144.8K
59CATCATERPILLAR INChistory →COM0.30%$57M233.2K
60AMATAPPLIED MATLS INChistory →COM0.30%$57M395.0K
61AMGNAMGEN INChistory →COM0.30%$56M253.6K
62TAT&T INChistory →COM0.29%$56M3.53M
63MDTMEDTRONIC PLChistory →SHS0.29%$55M629.3K
64ISRGINTUITIVE SURGICAL INChistory →COM NEW0.29%$55M160.1K
65UNPUNION PAC CORPhistory →COM0.29%$55M266.6K
66GENERAL ELECTRIC COCOM NEW0.27%$52M474.2K
67NOWSERVICENOW INChistory →COM0.27%$52M91.7K
68BABOEING COhistory →COM0.27%$52M243.9K
69DEDEERE & COhistory →COM0.27%$51M126.7K
70PLDPROLOGIS INC.history →COM0.27%$51M415.7K
71GILDGILEAD SCIENCES INChistory →COM0.27%$51M657.4K
72SYKSTRYKER CORPORATIONhistory →COM0.26%$50M164.8K
73ELVELEVANCE HEALTH INChistory →COM0.26%$50M112.8K
74AXPAMERICAN EXPRESS COhistory →COM0.26%$50M284.9K
75SBUXSTARBUCKS CORPhistory →COM0.26%$49M493.5K
76LMTLOCKHEED MARTIN CORPhistory →COM0.25%$48M105.0K
77BKNGBOOKING HOLDINGS INChistory →COM0.25%$48M17.8K
78GSGOLDMAN SACHS GROUP INChistory →COM0.25%$47M145.6K
79VRTXVERTEX PHARMACEUTICALS INChistory →COM0.25%$47M133.0K
80ADPAUTOMATIC DATA PROCESSING INhistory →COM0.24%$47M211.7K
81BLACKROCK INCCOM0.24%$46M67.1K
82TJXTJX COS INC NEWhistory →COM0.24%$45M535.2K
83ADIANALOG DEVICES INChistory →COM0.24%$45M232.4K
84MSMORGAN STANLEYhistory →COM NEW0.24%$45M529.7K
85MDLZMONDELEZ INTL INChistory →CL A0.23%$45M612.8K
86REGNREGENERON PHARMACEUTICALShistory →COM0.22%$42M59.0K
87MRSHMARSH & MCLENNAN COS INChistory →COM0.22%$42M223.0K
88CVSCVS HEALTH CORPhistory →COM0.22%$41M595.3K
89AMTAMERICAN TOWER CORP NEWhistory →COM0.21%$41M209.8K
90LAM RESEARCH CORPCOM0.21%$41M63.2K
91CCITIGROUP INChistory →COM NEW0.21%$40M875.7K
92CITHE CIGNA GROUPhistory →COM0.21%$40M142.8K
93FISVFISERV INChistory →COM0.20%$38M304.6K
94SCHWSCHWAB CHARLES CORPhistory →COM0.20%$38M667.9K
95UBERUBER TECHNOLOGIES INChistory →COM0.20%$38M874.1K
96CBCHUBB LIMITEDhistory →COM0.20%$38M195.9K
97PGRPROGRESSIVE CORPhistory →COM0.19%$37M279.4K
98ZTSZOETIS INChistory →CL A0.19%$37M214.6K
99ETNEATON CORP PLChistory →SHS0.19%$36M179.8K
100BSXBOSTON SCIENTIFIC CORPhistory →COM0.19%$36M667.0K

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 ↗.