SEC 13F Intelligence

Managers / Q4 2024 · view latest →

Treasurer of the State of North Carolina

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

Reported Value
$25.7B
Q4 2024
Positions
1,013
Filings on Record
35
2019–present window
Filed
Feb 13, 2025
original filing

Summary

Treasurer Of The State Of North Carolina reported $25.7B in U.S.-listed holdings across 1,013 positions for Q4 2024.

Its largest position, AAPL, represents 6.4% of the portfolio.

Compared with Q3 2024, the fund opened 9 new positions and exited 17.

Portfolio Metrics

Turnover
+5.6%
vs prior filed quarter
Top-10 Concentration
+34.1%
share of reported value
Largest Position
+6.4%
Apple
New / Exited
9 / 17
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: 97.6%REIT: 2.3%Other: 0.1%ETP: 0.0%Tracking Stk: 0.0%
  • Common Stock · 97.6% · $25.0B
  • REIT · 2.3% · $584M
  • Other · 0.1% · $17M
  • ETP · 0.0% · $12M
  • Tracking Stk · 0.0% · $11M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
BLKBlackrock IncNEW+71.5K71.5K+$73M$73M
ANETArista Networks IncNEW+514.1K514.1K+$57M$57M
LRCXLam Research CorpNEW+618.8K618.8K+$45M$45M
SMCISuper Micro Computer IncNEW+217.9K217.9K+$7M$7M
APTVAptiv PLCNEW+109.3K109.3K+$7M$7M
BEPCBrookfield Renewable Partners LPNEW+59.4K59.4K+$2M$2M
ECGEverus Construction Group IncNEW+22.3K22.3K+$1M$1M
SFMSPROUTS FMRS MKT INCNEW+8.2K8.2K+$1M$1M

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

Holdings — Q4 2024

499 positions (from 500 filing rows — )
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AAPLAPPLE INChistory →COM6.38%$1.6B6.54M
2NVDANVIDIA CORPORATIONhistory →COM5.65%$1.4B10.79M
3MSFTMICROSOFT CORPhistory →COM5.59%$1.4B3.40M
4GOOGLALPHABET INCCAP STK CL A · CAP STK CL C3.72%$954M5.02M
5AMZNAMAZON COM INChistory →COM3.71%$953M4.34M
6METAMETA PLATFORMS INChistory →CL A2.37%$609M1.04M
7TSLATESLA INChistory →COM2.03%$522M1.29M
8AVGOBROADCOM INChistory →COM1.96%$503M2.17M
9BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW1.46%$375M827.7K
10JPMJPMORGAN CHASE & CO.history →COM1.18%$302M1.26M
11LLYELI LILLY & COhistory →COM1.16%$298M386.4K
12VVISA INChistory →COM CL A0.88%$227M718.3K
13UNHUNITEDHEALTH GROUP INChistory →COM0.84%$216M427.7K
14EXMOCEXXON MOBIL CORPhistory →COM0.83%$212M1.97M
15MAMASTERCARD INCORPORATEDhistory →CL A0.79%$203M385.0K
16PGPROCTER AND GAMBLE COhistory →COM0.74%$189M1.13M
17HDHOME DEPOT INChistory →COM0.74%$189M484.9K
18WMTWALMART INChistory →COM0.72%$186M2.06M
19NFLXNETFLIX INChistory →COM0.71%$181M203.2K
20COSTCOSTCO WHSL CORP NEWhistory →COM0.70%$179M195.1K
21JNJJOHNSON & JOHNSONhistory →COM0.65%$167M1.16M
22ABBVABBVIE INChistory →COM0.62%$158M891.4K
23CRMSALESFORCE INChistory →COM0.57%$145M434.4K
24ORCLORACLE CORPhistory →COM0.54%$140M839.1K
25BACBANK AMERICA CORPhistory →COM0.52%$132M3.01M
26CSCOCISCO SYS INChistory →COM0.49%$125M2.11M
27MRKMERCK & CO INChistory →COM0.48%$122M1.23M
28CVXCHEVRON CORP NEWhistory →COM0.43%$110M758.1K
29IBMINTERNATIONAL BUSINESS MACHShistory →COM0.42%$109M495.6K
30KOCOCA COLA COhistory →COM0.42%$109M1.75M
31WFCWELLS FARGO CO NEWhistory →COM0.41%$106M1.51M
32NOWSERVICENOW INChistory →COM0.40%$104M97.7K
33ACNACCENTURE PLC IRELANDhistory →SHS CLASS A0.39%$100M283.5K
34ADBEADOBE INChistory →COM0.37%$95M213.2K
35PEPPEPSICO INChistory →COM0.37%$95M623.3K
36MCDMCDONALDS CORPhistory →COM0.37%$94M325.5K
37DISDISNEY WALT COhistory →COM0.37%$94M845.7K
38ABTABBOTT LABShistory →COM0.36%$93M820.3K
39TMOTHERMO FISHER SCIENTIFIC INChistory →COM0.35%$91M174.6K
40TXNTEXAS INSTRS INChistory →COM0.35%$90M482.4K
41AXPAMERICAN EXPRESS COhistory →COM0.35%$90M304.4K
42QCOMQUALCOMM INChistory →COM0.35%$90M587.2K
43LINLINDE PLChistory →SHS0.34%$89M211.4K
44INTUINTUIThistory →COM0.34%$88M140.7K
45AMDADVANCED MICRO DEVICES INChistory →COM0.34%$88M725.2K
46TAT&T INChistory →COM0.34%$86M3.79M
47PMPHILIP MORRIS INTL INChistory →COM0.34%$86M716.6K
48ISRGINTUITIVE SURGICAL INChistory →COM NEW0.33%$84M160.4K
49CATCATERPILLAR INChistory →COM0.32%$83M229.3K
50VZVERIZON COMMUNICATIONS INChistory →COM0.32%$83M2.08M
51GSGOLDMAN SACHS GROUP INChistory →COM0.31%$79M138.7K
52GE AEROSPACECOM NEW0.31%$79M473.6K
53BKNGBOOKING HOLDINGS INChistory →COM0.30%$78M15.7K
54DHRDANAHER CORPORATIONhistory →COM0.30%$78M338.6K
55CMCSACOMCAST CORP NEWhistory →CL A0.30%$77M2.06M
56PFEPFIZER INChistory →COM0.29%$76M2.85M
57BLKBlackrock Inchistory →COM0.29%$73M71.5K
58PLTRPALANTIR TECHNOLOGIES INChistory →CL A0.27%$70M932.0K
59PGRPROGRESSIVE CORPhistory →COM0.27%$70M293.4K
60AMATAPPLIED MATLS INChistory →COM0.27%$70M429.1K
61SPGIS&P GLOBAL INChistory →COM0.27%$69M138.0K
62AMGNAMGEN INChistory →COM0.27%$68M261.1K
63RTXRTX CORPORATIONhistory →COM0.26%$68M585.0K
64ADPAUTOMATIC DATA PROCESSING INhistory →COM0.26%$67M228.5K
65MSMORGAN STANLEYhistory →COM NEW0.26%$66M523.1K
66NEENEXTERA ENERGY INChistory →COM0.25%$65M904.7K
67HONHONEYWELL INTL INChistory →COM0.25%$65M286.7K
68LOWLOWES COS INChistory →COM0.24%$62M251.9K
69TJXTJX COS INC NEWhistory →COM0.24%$62M511.9K
70UNPUNION PAC CORPhistory →COM0.24%$61M268.4K
71COPCONOCOPHILLIPShistory →COM0.24%$61M612.0K
72PANWPALO ALTO NETWORKS INChistory →COM0.24%$61M333.3K
73CCITIGROUP INChistory →COM NEW0.23%$60M854.3K
74BSXBOSTON SCIENTIFIC CORPhistory →COM0.23%$59M665.5K
75BMYBRISTOL-MYERS SQUIBB COhistory →COM0.23%$59M1.05M
76SYKSTRYKER CORPORATIONhistory →COM0.23%$59M164.4K
77GILDGILEAD SCIENCES INChistory →COM0.23%$59M639.0K
78ETNEATON CORP PLChistory →SHS0.22%$58M173.6K
79MDTMEDTRONIC PLChistory →SHS0.22%$58M721.2K
80ANETArista Networks Inchistory →COM0.22%$57M514.1K
81ADIANALOG DEVICES INChistory →COM0.22%$55M261.2K
82CBCHUBB LIMITEDhistory →COM0.22%$55M200.7K
83UBERUBER TECHNOLOGIES INChistory →COM0.22%$55M918.2K
84BABOEING COhistory →COM0.21%$55M311.3K
85BXBLACKSTONE INChistory →COM0.21%$55M317.4K
86FISVFISERV INChistory →COM0.20%$51M249.2K
87SCHWSCHWAB CHARLES CORPhistory →COM0.19%$50M674.2K
88LMTLOCKHEED MARTIN CORPhistory →COM0.19%$50M102.7K
89TMUST-MOBILE US INChistory →COM0.19%$50M225.5K
90DEDEERE & COhistory →COM0.19%$48M113.9K
91MUMICRON TECHNOLOGY INChistory →COM0.19%$48M570.2K
92MRSHMARSH & MCLENNAN COS INChistory →COM0.18%$47M222.7K
93VRTXVERTEX PHARMACEUTICALS INChistory →COM0.18%$47M116.8K
94KLACKLA CORPhistory →COM NEW0.18%$46M72.2K
95SBUXSTARBUCKS CORPhistory →COM0.18%$45M498.5K
96LRCXLam Research Corphistory →COM NEW0.17%$45M618.8K
97KKRKKR & CO INChistory →COM0.17%$44M296.3K
98PLDPROLOGIS INC.history →COM0.17%$43M406.5K
99CMECME GROUP INChistory →COM0.17%$42M182.7K
100MRVLMARVELL TECHNOLOGY INChistory →COM0.16%$42M376.9K

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 ↗.