SEC 13F Intelligence

Managers / Q4 2023 · view latest →

Treasurer of the State of North Carolina

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

Reported Value
$20.7B
Q4 2023
Positions
1,016
Filings on Record
35
2019–present window
Filed
May 9, 2024
amendment (RESTATEMENT)

Summary

Treasurer Of The State Of North Carolina reported $20.7B in U.S.-listed holdings across 1,016 positions for Q4 2023.

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

Compared with Q3 2023, the fund opened 9 new positions and exited 8.

Portfolio Metrics

Turnover
+1.4%
vs prior filed quarter
Top-10 Concentration
+28.5%
share of reported value
Largest Position
+6.2%
Apple
New / Exited
9 / 8
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: 0.4%ETP: 0.1%Tracking Stk: 0.0%
  • Common Stock · 96.8% · $20.0B
  • REIT · 2.7% · $552M
  • Other · 0.4% · $73M
  • ETP · 0.1% · $17M
  • Tracking Stk · 0.0% · $10M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
VLTOVERALTO CORPNEW+97.4K97.4K+$8M$8M
BGBUNGE GLOBAL SANEW+68.3K68.3K+$7M$7M
VSTSVESTIS CORPORATIONNEW+51.9K51.9K+$1M$1M
NATLNCR ATLEOS CORPORATIONNEW+28.6K28.6K+$695,000$695,000
BIRKBIRKENSTOCK HOLDING PLCNEW+13.2K13.2K+$643,000$643,000
KLGWK KELLOGG CONEW+28.8K28.8K+$379,000$379,000
UHALU HAUL HOLDING COMPANYNEW+3.4K3.4K+$245,000$245,000
CARTMAPLEBEAR INCNEW+9.3K9.3K+$218,000$218,000

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

Holdings — Q4 2023

499 positions (from 500 filing rows — )
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AAPLAPPLE INChistory →COM6.24%$1.3B6.69M
2MSFTMICROSOFT CORPhistory →COM6.13%$1.3B3.37M
3GOOGLALPHABET INCCAP STK CL A · CAP STK CL C3.45%$712M5.08M
4AMZNAMAZON COM INChistory →COM3.02%$625M4.11M
5NVDANVIDIA CORPORATIONhistory →COM2.63%$544M1.10M
6METAMETA PLATFORMS INChistory →CL A1.78%$367M1.04M
7TSLATESLA INChistory →COM1.52%$314M1.26M
8BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW1.45%$299M839.0K
9LLYELI LILLY & COhistory →COM1.13%$234M400.8K
10UNHUNITEDHEALTH GROUP INChistory →COM1.12%$232M439.9K
11AVGOBROADCOM INChistory →COM1.08%$223M200.0K
12JPMJPMORGAN CHASE & COhistory →COM1.05%$218M1.28M
13VVISA INChistory →COM CL A0.93%$193M741.1K
14JNJJOHNSON & JOHNSONhistory →COM0.88%$181M1.16M
15EXMOCEXXON MOBIL CORPhistory →COM0.87%$180M1.80M
16MAMASTERCARD INCORPORATEDhistory →CL A0.79%$164M384.7K
17PGPROCTER AND GAMBLE COhistory →COM0.79%$162M1.11M
18HDHOME DEPOT INChistory →COM0.76%$156M450.9K
19MRKMERCK & CO INChistory →COM0.66%$136M1.25M
20ABBVABBVIE INChistory →COM0.65%$134M865.5K
21COSTCOSTCO WHSL CORP NEWhistory →COM0.63%$130M196.7K
22ADBEADOBE INChistory →COM0.62%$127M213.4K
23CRMSALESFORCE INChistory →COM0.57%$117M444.0K
24CVXCHEVRON CORP NEWhistory →COM0.55%$114M764.0K
25BACBANK AMERICA CORPhistory →COM0.53%$109M3.25M
26PEPPEPSICO INChistory →COM0.52%$107M629.1K
27AMDADVANCED MICRO DEVICES INChistory →COM0.52%$107M722.7K
28KOCOCA COLA COhistory →COM0.51%$106M1.79M
29WMTWALMART INChistory →COM0.50%$103M653.9K
30CSCOCISCO SYS INChistory →COM0.49%$102M2.02M
31ACNACCENTURE PLC IRELANDhistory →SHS CLASS A0.49%$102M289.5K
32MCDMCDONALDS CORPhistory →COM0.49%$101M341.5K
33INTCINTEL CORPhistory →COM0.49%$101M2.01M
34NFLXNETFLIX INChistory →COM0.48%$99M203.4K
35TMOTHERMO FISHER SCIENTIFIC INChistory →COM0.47%$97M183.6K
36ABTABBOTT LABShistory →COM0.43%$90M815.0K
37LINLINDE PLChistory →SHS0.43%$88M215.2K
38CMCSACOMCAST CORP NEWhistory →CL A0.42%$88M2.00M
39WFCWELLS FARGO CO NEWhistory →COM0.40%$82M1.68M
40PFEPFIZER INChistory →COM0.40%$82M2.85M
41ORCLORACLE CORPhistory →COM0.40%$82M775.9K
42VZVERIZON COMMUNICATIONS INChistory →COM0.40%$82M2.17M
43INTUINTUIThistory →COM0.39%$81M129.0K
44QCOMQUALCOMM INChistory →COM0.37%$76M525.5K
45DISDISNEY WALT COhistory →COM0.36%$75M835.2K
46AMGNAMGEN INChistory →COM0.36%$75M258.9K
47TXNTEXAS INSTRS INChistory →COM0.36%$74M432.5K
48DHRDANAHER CORPORATIONhistory →COM0.35%$72M312.9K
49IBMINTERNATIONAL BUSINESS MACHShistory →COM0.34%$71M434.5K
50CATCATERPILLAR INChistory →COM0.33%$69M233.9K
51PMPHILIP MORRIS INTL INChistory →COM0.32%$67M711.0K
52UNPUNION PAC CORPhistory →COM0.32%$66M270.6K
53AMATAPPLIED MATLS INChistory →COM0.31%$65M399.5K
54BABOEING COhistory →COM0.31%$65M247.6K
55NOWSERVICENOW INChistory →COM0.31%$64M90.4K
56SPGIS&P GLOBAL INChistory →COM0.31%$64M144.3K
57COPCONOCOPHILLIPShistory →COM0.30%$62M537.6K
58HONHONEYWELL INTL INChistory →COM0.30%$62M295.6K
59BKNGBOOKING HOLDINGS INChistory →COM0.30%$62M17.4K
60GENERAL ELECTRIC COCOM NEW0.30%$61M481.4K
61TAT&T INChistory →COM0.29%$61M3.63M
62NKENIKE INChistory →CL B0.28%$59M540.7K
63LOWLOWES COS INChistory →COM0.28%$57M256.4K
64GSGOLDMAN SACHS GROUP INChistory →COM0.27%$56M145.7K
65PLDPROLOGIS INC.history →COM0.27%$56M421.3K
66UBERUBER TECHNOLOGIES INChistory →COM0.27%$55M898.9K
67BLACKROCK INCCOM0.27%$55M67.5K
68NEENEXTERA ENERGY INChistory →COM0.26%$55M898.8K
69GILDGILEAD SCIENCES INChistory →COM0.26%$54M670.2K
70BMYBRISTOL-MYERS SQUIBB COhistory →COM0.26%$54M1.06M
71MDTMEDTRONIC PLChistory →SHS0.26%$54M658.3K
72ISRGINTUITIVE SURGICAL INChistory →COM NEW0.26%$54M159.9K
73ELVELEVANCE HEALTH INChistory →COM0.26%$54M114.3K
74RTXRTX CORPORATIONhistory →COM0.26%$54M638.5K
75VRTXVERTEX PHARMACEUTICALS INChistory →COM0.26%$54M131.6K
76AXPAMERICAN EXPRESS COhistory →COM0.26%$53M283.4K
77UPSUNITED PARCEL SERVICE INChistory →CL B0.25%$52M330.7K
78REGNREGENERON PHARMACEUTICALShistory →COM0.25%$51M58.6K
79TJXTJX COS INC NEWhistory →COM0.25%$51M542.2K
80MSMORGAN STANLEYhistory →COM NEW0.24%$50M538.5K
81PGRPROGRESSIVE CORPhistory →COM0.24%$49M306.4K
82ADIANALOG DEVICES INChistory →COM0.24%$49M245.7K
83SYKSTRYKER CORPORATIONhistory →COM0.24%$49M162.7K
84CVSCVS HEALTH CORPhistory →COM0.24%$49M616.0K
85LAM RESEARCH CORPCOM0.24%$49M62.1K
86DEDEERE & COhistory →COM0.23%$48M121.0K
87SBUXSTARBUCKS CORPhistory →COM0.23%$48M500.9K
88SCHWSCHWAB CHARLES CORPhistory →COM0.23%$47M676.3K
89LMTLOCKHEED MARTIN CORPhistory →COM0.22%$46M101.6K
90AMTAMERICAN TOWER CORP NEWhistory →COM0.22%$46M212.6K
91ADPAUTOMATIC DATA PROCESSING INhistory →COM0.22%$45M193.6K
92MDLZMONDELEZ INTL INChistory →CL A0.22%$45M621.0K
93CCITIGROUP INChistory →COM NEW0.22%$45M872.6K
94CBCHUBB LIMITEDhistory →COM0.21%$44M195.7K
95ETNEATON CORP PLChistory →SHS0.21%$44M182.4K
96MUMICRON TECHNOLOGY INChistory →COM0.21%$43M506.6K
97CITHE CIGNA GROUPhistory →COM0.21%$43M143.8K
98ZTSZOETIS INChistory →CL A0.21%$43M217.5K
99MRSHMARSH & MCLENNAN COS INChistory →COM0.21%$43M226.0K
100BXBLACKSTONE INChistory →COM0.20%$41M316.9K

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 ↗.