SEC 13F Intelligence

Managers / Q3 2023 · view latest →

Treasurer of the State of North Carolina

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

Reported Value
$18.5B
Q3 2023
Positions
1,015
Filings on Record
35
2019–present window
Filed
Nov 13, 2023
original filing

Summary

Treasurer Of The State Of North Carolina reported $18.5B in U.S.-listed holdings across 1,015 positions for Q3 2023.

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

Compared with Q2 2023, the fund opened 14 new positions and exited 13.

Portfolio Metrics

Turnover
+3.1%
vs prior filed quarter
Top-10 Concentration
+28.1%
share of reported value
Largest Position
+6.2%
Apple
New / Exited
14 / 13
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: 96.9%REIT: 2.5%Other: 0.5%ETP: 0.1%Tracking Stk: 0.1%
  • Common Stock · 96.9% · $17.9B
  • REIT · 2.5% · $464M
  • Other · 0.5% · $85M
  • ETP · 0.1% · $16M
  • Tracking Stk · 0.1% · $10M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
KVUEKENVUE INCNEW+762.5K762.5K+$15M$15M
FWONKLIBERTY MEDIA CORP DELNEW+87.8K87.8K+$5M$5M
TKOTKO GROUP HOLDINGS INCNEW+28.2K28.2K+$2M$2M
LIBERTY MEDIA CORP DELNEW+67.4K67.4K+$2M$2M
FTREFORTREA HLDGS INCNEW+38.9K38.9K+$1M$1M
HHHHOWARD HUGHES HOLDINGS INCNEW+14.8K14.8K+$1M$1M
LIBERTY MEDIA CORP DELNEW+32.6K32.6K+$830,000$830,000
LIBERTY MEDIA CORP DELNEW+20.5K20.5K+$658,000$658,000

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

Holdings — Q3 2023

499 positions (from 500 filing rows — )
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AAPLAPPLE INChistory →COM6.22%$1.1B6.72M
2MSFTMICROSOFT CORPhistory →COM5.71%$1.1B3.34M
3GOOGLALPHABET INCCAP STK CL A · CAP STK CL C3.59%$664M5.05M
4AMZNAMAZON COM INChistory →COM2.80%$517M4.07M
5NVDANVIDIA CORPORATIONhistory →COM2.54%$470M1.08M
6TSLATESLA INChistory →COM1.69%$313M1.25M
7METAMETA PLATFORMS INChistory →CL A1.67%$309M1.03M
8BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW1.56%$287M820.5K
9UNHUNITEDHEALTH GROUP INChistory →COM1.19%$220M435.8K
10LLYELI LILLY & COhistory →COM1.16%$214M397.5K
11EXMOCEXXON MOBIL CORPhistory →COM1.12%$207M1.76M
12JPMJPMORGAN CHASE & COhistory →COM1.00%$184M1.27M
13JNJJOHNSON & JOHNSONhistory →COM0.96%$178M1.14M
14VVISA INChistory →COM CL A0.90%$166M722.4K
15PGPROCTER AND GAMBLE COhistory →COM0.86%$159M1.09M
16MAMASTERCARD INCORPORATEDhistory →CL A0.84%$155M391.7K
17AVGOBROADCOM INChistory →COM0.83%$154M185.1K
18HDHOME DEPOT INChistory →COM0.74%$136M449.8K
19CVXCHEVRON CORP NEWhistory →COM0.71%$131M778.0K
20ABBVABBVIE INChistory →COM0.69%$128M855.6K
21MRKMERCK & CO INChistory →COM0.69%$128M1.24M
22COSTCOSTCO WHSL CORP NEWhistory →COM0.60%$110M194.8K
23CSCOCISCO SYS INChistory →COM0.59%$109M2.03M
24ADBEADOBE INChistory →COM0.58%$108M211.8K
25WMTWALMART INChistory →COM0.57%$106M662.9K
26PEPPEPSICO INChistory →COM0.57%$106M623.2K
27KOCOCA COLA COhistory →COM0.54%$99M1.77M
28TMOTHERMO FISHER SCIENTIFIC INChistory →COM0.50%$92M182.7K
29PFEPFIZER INChistory →COM0.50%$92M2.78M
30MCDMCDONALDS CORPhistory →COM0.49%$90M340.3K
31ACNACCENTURE PLC IRELANDhistory →SHS CLASS A0.48%$88M286.7K
32CRMSALESFORCE INChistory →COM0.48%$88M433.6K
33BACBANK AMERICA CORPhistory →COM0.47%$88M3.20M
34CMCSACOMCAST CORP NEWhistory →CL A0.47%$86M1.95M
35LINLINDE PLChistory →SHS0.43%$80M215.7K
36ABTABBOTT LABShistory →COM0.43%$80M828.5K
37ORCLORACLE CORPhistory →COM0.43%$80M757.1K
38NFLXNETFLIX INChistory →COM0.42%$77M204.0K
39DHRDANAHER CORPORATIONhistory →COM0.42%$77M310.0K
40AMDADVANCED MICRO DEVICES INChistory →COM0.40%$73M714.0K
41INTCINTEL CORPhistory →COM0.38%$70M1.98M
42AMGNAMGEN INChistory →COM0.37%$69M256.8K
43COPCONOCOPHILLIPShistory →COM0.37%$68M571.1K
44TXNTEXAS INSTRS INChistory →COM0.37%$68M427.9K
45WFCWELLS FARGO CO NEWhistory →COM0.37%$68M1.66M
46DISDISNEY WALT COhistory →COM0.36%$67M827.2K
47PMPHILIP MORRIS INTL INChistory →COM0.36%$66M710.5K
48VZVERIZON COMMUNICATIONS INChistory →COM0.36%$66M2.03M
49INTUINTUIThistory →COM0.35%$65M127.7K
50IBMINTERNATIONAL BUSINESS MACHShistory →COM0.35%$64M456.7K
51CATCATERPILLAR INChistory →COM0.35%$64M234.4K
52BMYBRISTOL-MYERS SQUIBB COhistory →COM0.33%$62M1.06M
53QCOMQUALCOMM INChistory →COM0.31%$58M520.4K
54AMATAPPLIED MATLS INChistory →COM0.30%$55M398.2K
55BKNGBOOKING HOLDINGS INChistory →COM0.30%$55M17.8K
56TAT&T INChistory →COM0.30%$55M3.65M
57UNPUNION PAC CORPhistory →COM0.30%$55M268.0K
58HONHONEYWELL INTL INChistory →COM0.29%$54M292.7K
59LOWLOWES COS INChistory →COM0.29%$54M257.8K
60GENERAL ELECTRIC COCOM NEW0.29%$53M476.7K
61SPGIS&P GLOBAL INChistory →COM0.28%$52M141.0K
62NKENIKE INChistory →CL B0.28%$51M535.8K
63ADPAUTOMATIC DATA PROCESSING INhistory →COM0.28%$51M212.4K
64UPSUNITED PARCEL SERVICE INChistory →CL B0.28%$51M327.6K
65NEENEXTERA ENERGY INChistory →COM0.28%$51M890.1K
66NOWSERVICENOW INChistory →COM0.27%$50M90.0K
67MDTMEDTRONIC PLChistory →SHS0.27%$49M631.7K
68GILDGILEAD SCIENCES INChistory →COM0.27%$49M659.9K
69GSGOLDMAN SACHS GROUP INChistory →COM0.27%$49M152.8K
70ELVELEVANCE HEALTH INChistory →COM0.27%$49M113.3K
71REGNREGENERON PHARMACEUTICALShistory →COM0.26%$48M58.4K
72TJXTJX COS INC NEWhistory →COM0.26%$48M537.2K
73BABOEING COhistory →COM0.25%$47M245.2K
74PLDPROLOGIS INC.history →COM0.25%$47M417.3K
75ISRGINTUITIVE SURGICAL INChistory →COM NEW0.25%$46M158.4K
76RTXRTX CORPORATIONhistory →COM0.25%$46M642.5K
77DEDEERE & COhistory →COM0.25%$46M122.0K
78VRTXVERTEX PHARMACEUTICALS INChistory →COM0.25%$46M132.3K
79SBUXSTARBUCKS CORPhistory →COM0.25%$45M496.0K
80SYKSTRYKER CORPORATIONhistory →COM0.24%$44M160.5K
81MSMORGAN STANLEYhistory →COM NEW0.24%$44M534.4K
82BLACKROCK INCCOM0.24%$44M67.4K
83LMTLOCKHEED MARTIN CORPhistory →COM0.23%$43M105.5K
84MDLZMONDELEZ INTL INChistory →CL A0.23%$43M615.1K
85AXPAMERICAN EXPRESS COhistory →COM0.23%$43M285.9K
86MRSHMARSH & MCLENNAN COS INChistory →COM0.23%$43M223.9K
87CVSCVS HEALTH CORPhistory →COM0.23%$42M606.9K
88PGRPROGRESSIVE CORPhistory →COM0.22%$41M294.1K
89CBCHUBB LIMITEDhistory →COM0.22%$41M196.6K
90ADIANALOG DEVICES INChistory →COM0.22%$41M233.5K
91CITHE CIGNA GROUPhistory →COM0.22%$41M142.4K
92UBERUBER TECHNOLOGIES INChistory →COM0.22%$40M877.6K
93LAM RESEARCH CORPCOM0.22%$40M63.8K
94ETNEATON CORP PLChistory →SHS0.21%$39M180.7K
95ZTSZOETIS INChistory →CL A0.20%$37M215.4K
96SCHWSCHWAB CHARLES CORPhistory →COM0.20%$37M670.4K
97SLBSCHLUMBERGER LTDhistory →COM STK0.20%$37M626.4K
98CCITIGROUP INChistory →COM NEW0.20%$36M878.8K
99MUMICRON TECHNOLOGY INChistory →COM0.19%$36M524.7K
100BDXBECTON DICKINSON & COhistory →COM0.19%$35M134.2K

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 ↗.