State of Alaska, Department of Revenue
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 24, 2025), State of Alaska, Department of Revenue reported 2,081 stock positions worth $9.8 billion. Its top holding was Nvidia (NVDA) at 5.6% of the portfolio, followed by Microsoft (MSFT, 5.3%) and Apple (AAPL, 5.1%). Compared with Q2 2025, it opened 522 new positions, sold out of 24, added to 303 and reduced 1,237. The biggest buy was a new position in AppLovin Class A (APP) and the biggest sale SS SPDR S&P 500 ETF Trust-US (SPY, shares −87%).
- Most Recent 13F
- Q2 2026
- Location
- JUNEAU, AK
- CIK
- 0001370102
- Portfolio Value
- $9.8B (Q3 2025)
- SEC Filing
- 0001370102-25-000014 ↗ filed Oct 24, 2025
Holdings Value
Holdings 2,081 stocks · $9.8B
| NVDA Nvidia Corp. | 5.65% | 2,963,928 | $553.0M | Reduce -4.2% |
| MSFT Microsoft Corp. | 5.31% | 1,004,385 | $520.2M | Reduce -3.6% |
| AAPL Apple Inc. | 5.11% | 1,966,315 | $500.7M | Reduce -4.1% |
| AMZN Amazon.com Inc. | 2.76% | 1,231,948 | $270.5M | Reduce -1.6% |
| META Meta Platforms Inc. Class A | 2.19% | 291,393 | $214.0M | Reduce -3.7% |
| AVGO Broadcom Inc. | 2.00% | 593,388 | $195.8M | Reduce -4.0% |
| GOOGL Alphabet Inc. Class A | 1.78% | 716,671 | $174.2M | Reduce -3.5% |
| GOOG Alphabet Inc. Class C | 1.76% | 707,187 | $172.2M | Reduce -3.2% |
| TSLA Tesla Inc. | 1.58% | 347,076 | $154.3M | Reduce -4.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.28% | 249,991 | $125.7M | Reduce -3.9% |
| JPM JPMorgan Chase & Co. | 0.97% | 300,509 | $94.8M | Reduce -3.8% |
| LLY Eli Lilly & Co. | 0.78% | 100,112 | $76.4M | Add +8.2% |
| WELL Welltower Inc. | 0.73% | 399,291 | $71.1M | Add +2.2% |
| XOM Exxon Mobil Corp. | 0.71% | 616,135 | $69.5M | Reduce -4.2% |
| MA Mastercard Inc. Class A | 0.69% | 118,557 | $67.4M | Reduce -2.1% |
| PLD Prologis Inc. | 0.65% | 553,414 | $63.4M | Reduce -0.9% |
| V Visa Inc. Class A | 0.63% | 181,303 | $61.9M | Reduce -5.7% |
| JNJ Johnson & Johnson | 0.62% | 327,287 | $60.7M | Reduce -3.9% |
| ORCL Oracle Corp. | 0.61% | 212,330 | $59.7M | Reduce -7.8% |
| ABBV Abbvie Inc. | 0.60% | 254,549 | $58.9M | Reduce -6.6% |
| NFLX Netflix Inc. | 0.60% | 48,858 | $58.6M | Reduce -4.2% |
| COST Costco Wholesale Corp. | 0.56% | 59,475 | $55.1M | Reduce -3.8% |
| WMT Walmart Inc. | 0.56% | 528,831 | $54.5M | Add +3.3% |
| AMT American Tower Corp. | 0.55% | 279,012 | $53.7M | Reduce -0.9% |
| WFC Wells Fargo & Co. | 0.50% | 587,039 | $49.2M | Reduce -3.6% |
| PG The Procter & Gamble Co. | 0.50% | 315,567 | $48.5M | Reduce -3.9% |
| EQIX Equinix Inc. | 0.47% | 58,320 | $45.7M | Reduce -0.8% |
| PLTR Palantir Technologies Inc. Class A | 0.45% | 243,665 | $44.4M | Add +1.7% |
| HD Home Depot Inc. | 0.44% | 106,583 | $43.2M | Reduce -4.5% |
| UNH Unitedhealth Group Inc. | 0.44% | 124,615 | $43.0M | Reduce -3.8% |
| CVX Chevron Corp. | 0.39% | 248,419 | $38.6M | Add +10.5% |
| CSCO Cisco Systems Inc. | 0.39% | 552,714 | $37.8M | Reduce -4.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.39% | 731,988 | $37.8M | Reduce -0.8% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.37% | 129,712 | $36.6M | Add +24.4% |
| SPG Simon Property Group Inc. | 0.37% | 193,709 | $36.4M | Add +0.3% |
| AMD Advanced Micro Devices | 0.36% | 215,750 | $34.9M | Add +9.9% |
| PM Philip Morris International | 0.35% | 213,793 | $34.7M | Add +11.6% |
| DLR Digital Realty Trust Inc. | 0.35% | 199,567 | $34.5M | Reduce -0.6% |
| GE General Electric filed as GE AEROSPACE | 0.35% | 113,634 | $34.2M | Reduce -5.2% |
| QCOM Qualcomm Inc. | 0.34% | 203,030 | $33.8M | Reduce -3.6% |
| O Realty Income Corp. | 0.34% | 540,950 | $32.9M | Add +0.5% |
| ABT Abbott Laboratories | 0.31% | 229,973 | $30.8M | Reduce -3.8% |
| LOW Lowe's Cos Inc. | 0.31% | 119,135 | $29.9M | Reduce -2.4% |
| T AT&T Inc. | 0.30% | 1,045,403 | $29.5M | Add +11.4% |
| GS Goldman Sachs Group Inc. | 0.30% | 36,954 | $29.4M | Reduce -5.0% |
| VZ Verizon Communications Inc. | 0.30% | 662,148 | $29.1M | Reduce -3.4% |
| KO The Coca-Cola Co. | 0.28% | 414,102 | $27.5M | Reduce -4.7% |
| MU Micron Technology Inc. | 0.28% | 163,164 | $27.3M | Add +0.4% |
| PSA Public Storage | 0.28% | 94,324 | $27.2M | Reduce -0.7% |
| PEP Pepsico Inc. | 0.27% | 186,576 | $26.2M | Reduce -3.9% |
| MRK Merck & Co. Inc. | 0.27% | 310,665 | $26.1M | Reduce -5.1% |
| CCI Crown Castle Inc. | 0.26% | 259,919 | $25.1M | Reduce -0.5% |
| AXP American Express Co. | 0.25% | 74,600 | $24.8M | Reduce -4.7% |
| INTU Intuit Inc. | 0.25% | 36,052 | $24.6M | Add +14.8% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.25% | 169,412 | $24.5M | Reduce -3.5% |
| CRM Salesforce Inc. | 0.25% | 102,837 | $24.4M | Reduce -4.5% |
| CAT Caterpillar Inc. | 0.25% | 50,343 | $24.0M | Reduce -4.7% |
| RTX RTX Corp. | 0.24% | 142,947 | $23.9M | Reduce -4.8% |
| LIN Linde PLC | 0.24% | 50,162 | $23.8M | Reduce -5.0% |
| MCD McDonald's Corp. | 0.24% | 76,475 | $23.2M | Reduce -4.8% |
| COP Conocophillips | 0.23% | 240,393 | $22.7M | Reduce -3.4% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.23% | 192,738 | $22.1M | Reduce -4.4% |
| UBER Uber Technologies Inc. | 0.22% | 224,143 | $22.0M | Reduce -4.5% |
| COF Capital One Financial Corp. | 0.22% | 101,851 | $21.6M | Reduce -1.9% |
| APP AppLovin Corp. Class A | 0.21% | 28,945 | $20.8M | New |
| MS Morgan Stanley | 0.21% | 130,562 | $20.8M | Reduce -6.0% |
| ADBE Adobe Inc. | 0.21% | 58,466 | $20.6M | Reduce -3.9% |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 0.21% | 631,355 | $20.6M | Reduce -0.7% |
| NOW ServiceNow Inc. | 0.21% | 22,361 | $20.6M | Reduce -4.0% |
| C Citigroup Inc. | 0.20% | 197,581 | $20.1M | Reduce -6.0% |
| ACN Accenture PLC Class A | 0.20% | 80,471 | $19.8M | Reduce -4.5% |
| MO Altria Group Inc. | 0.20% | 299,680 | $19.8M | Reduce -3.0% |
| TMO Thermo Fisher Scientific Inc. | 0.20% | 40,446 | $19.6M | Reduce -4.8% |
| CMCSA Comcast Corp. Class A | 0.19% | 605,693 | $19.0M | Reduce -4.1% |
| VTR Ventas Inc. | 0.19% | 270,617 | $18.9M | Add +2.4% |
| BKNG Booking Holdings Inc. | 0.19% | 3,497 | $18.9M | Reduce -4.5% |
| GILD Gilead Sciences Inc. | 0.19% | 169,983 | $18.9M | Reduce -4.5% |
| PFE Pfizer Inc. | 0.19% | 730,857 | $18.6M | Reduce -5.2% |
| AMGN Amgen Inc. | 0.19% | 65,975 | $18.6M | Reduce -4.4% |
| GHC Graham Holdings Co. Class B | 0.19% | 15,725 | $18.5M | Add +1.1% |
| BLK BlackRock Inc. | 0.19% | 15,743 | $18.4M | Reduce -3.8% |
| GEV GE Vernova Inc. | 0.19% | 29,755 | $18.3M | Reduce -2.8% |
| TXN Texas Instruments Inc. | 0.19% | 99,368 | $18.3M | Reduce -2.7% |
| LRCX Lam Research Corp. | 0.19% | 135,373 | $18.1M | Reduce -5.9% |
| IRM Iron Mountain Inc. filed as IRON MTN INC DEL | 0.18% | 175,294 | $17.9M | Reduce -0.8% |
| EXR Extra Space Storage Inc. | 0.18% | 125,955 | $17.8M | Reduce -0.8% |
| BA The Boeing Co. | 0.18% | 81,383 | $17.6M | Reduce -4.3% |
| AMAT Applied Materials Inc. | 0.18% | 85,557 | $17.5M | Reduce -6.3% |
| SCHW Schwab (charles) Corp. | 0.18% | 183,358 | $17.5M | Reduce -4.4% |
| VNT Vontier Corp. | 0.18% | 413,353 | $17.3M | Add +1.6% |
| ISRG Intuitive Surgical Inc. | 0.17% | 38,270 | $17.1M | Reduce -4.9% |
| MCK McKesson Corp. | 0.17% | 22,067 | $17.0M | Reduce -2.0% |
| CW Curtiss-Wright Corp. | 0.17% | 31,192 | $16.9M | Reduce -0.4% |
| MDT Medtronic PLC | 0.17% | 177,198 | $16.9M | Reduce -3.8% |
| KLAC KLA Corp. | 0.17% | 15,605 | $16.8M | Reduce -4.5% |
| SEIC Sei Investments Company | 0.17% | 198,116 | $16.8M | Reduce -0.3% |
| NEE Nextera Energy Inc. | 0.17% | 220,814 | $16.7M | Reduce -4.3% |
| AVB Avalonbay Communities Inc. | 0.17% | 85,195 | $16.5M | Reduce -0.4% |
| SPGI S&P Global Inc. | 0.17% | 33,724 | $16.4M | Reduce -4.3% |
| AMP Ameriprise Financial Inc. | 0.17% | 33,271 | $16.3M | Reduce -1.2% |
Portfolio Sells Q2 2025 → Q3 2025
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -87.4% | 0.04% | −0.26 |
| MSFT Microsoft Corp. | Reduce -3.6% | 5.31% | −0.23 |
| META Meta Platforms Inc. Class A | Reduce -3.7% | 2.19% | −0.20 |
| AMZN Amazon.com Inc. | Reduce -1.6% | 2.76% | −0.17 |
| NFLX Netflix Inc. | Reduce -4.2% | 0.60% | −0.13 |
| AMT American Tower Corp. | Reduce -0.9% | 0.55% | −0.12 |
| V Visa Inc. Class A | Reduce -5.7% | 0.63% | −0.10 |
| COST Costco Wholesale Corp. | Reduce -3.8% | 0.56% | −0.09 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -20.8% | 0.14% | −0.07 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -3.9% | 1.28% | −0.07 |
| ACN Accenture PLC Class A | Reduce -4.5% | 0.20% | −0.07 |
| CRM Salesforce Inc. | Reduce -4.5% | 0.25% | −0.07 |
| PG The Procter & Gamble Co. | Reduce -3.9% | 0.50% | −0.06 |
| ISRG Intuitive Surgical Inc. | Reduce -4.9% | 0.17% | −0.06 |
| BWXT BWX Technologies Inc. | Reduce -80.5% | 0.02% | −0.06 |
| JNPR Juniper Networks Inc. | Sold out | 0.00% | −0.05 |
| MTCH Match Group Inc. | Reduce -85.5% | 0.01% | −0.05 |
| KO The Coca-Cola Co. | Reduce -4.7% | 0.28% | −0.05 |
| ANSS Ansys Inc. | Sold out | 0.00% | −0.05 |
| SKX Skechers USA Inc. Class A | Sold out | 0.00% | −0.05 |
| CMCSA Comcast Corp. Class A | Reduce -4.1% | 0.19% | −0.05 |
| HES Hess Corp. | Sold out | 0.00% | −0.05 |
| NOW ServiceNow Inc. | Reduce -4.0% | 0.21% | −0.05 |
| DIS The Walt Disney Co. | Reduce -4.4% | 0.23% | −0.04 |
| CSCO Cisco Systems Inc. | Reduce -4.1% | 0.39% | −0.04 |
| NFG National Fuel Gas Co. | Reduce -32.1% | 0.10% | −0.04 |
| ADBE Adobe Inc. | Reduce -3.9% | 0.21% | −0.04 |
| TXN Texas Instruments Inc. | Reduce -2.7% | 0.19% | −0.04 |
| AVAV Aerovironment Inc. | Reduce -79.3% | 0.01% | −0.04 |
| MA Mastercard Inc. Class A | Reduce -2.1% | 0.69% | −0.04 |
| CARR Carrier Global Corp. | Reduce -25.2% | 0.05% | −0.04 |
| SANM Sanmina Corp. | Reduce -43.2% | 0.07% | −0.04 |
| SBAC SBA Communications Corp. | Reduce -0.9% | 0.13% | −0.04 |
| ELV Elevance Health Inc. | Reduce -2.5% | 0.12% | −0.04 |
| BKNG Booking Holdings Inc. | Reduce -4.5% | 0.19% | −0.03 |
| EQIX Equinix Inc. | Reduce -0.8% | 0.47% | −0.03 |
| HON Honeywell International Inc. | Reduce -5.8% | 0.15% | −0.03 |
| ABT Abbott Laboratories | Reduce -3.8% | 0.31% | −0.03 |
| BSX Boston Scientific Corp. | Reduce -4.7% | 0.16% | −0.03 |
| AMKR Amkor Technology Inc. | Reduce -55.6% | 0.04% | −0.03 |
| XOM Exxon Mobil Corp. | Reduce -4.2% | 0.71% | −0.03 |
| KTOS Kratos Defense & Security | Reduce -81.6% | 0.02% | −0.03 |
| SPGI S&P Global Inc. | Reduce -4.3% | 0.17% | −0.03 |
| CCI Crown Castle Inc. | Reduce -0.5% | 0.26% | −0.03 |
| PGR Progressive Corp. | Reduce -4.8% | 0.16% | −0.03 |
| DE Deere & Co. | Reduce -5.0% | 0.13% | −0.03 |
| FDS Factset Research Systems Inc. | Reduce -0.9% | 0.04% | −0.03 |
| CI The Cigna Group | Reduce -4.2% | 0.11% | −0.03 |
| GMS GMS Inc. | Sold out | 0.00% | −0.03 |
| PII Polaris Inc. | Reduce -91.6% | 0.00% | −0.03 |
Portfolio Buys Q2 2025 → Q3 2025
| APP AppLovin Corp. Class A | New | 0.21% | +0.21 |
| HOOD Robinhood Markets Inc. Class A | New | 0.12% | +0.12 |
| PLTR Palantir Technologies Inc. Class A | Add +1.7% | 0.45% | +0.10 |
| WELL Welltower Inc. | Add +2.2% | 0.73% | +0.08 |
| MU Micron Technology Inc. | Add +0.4% | 0.28% | +0.06 |
| AMD Advanced Micro Devices | Add +9.9% | 0.36% | +0.06 |
| CVX Chevron Corp. | Add +10.5% | 0.39% | +0.05 |
| SNPS Synopsys Inc. | Add +62.5% | 0.14% | +0.05 |
| IBM Intl Business Machines Corp. | Add +24.4% | 0.37% | +0.04 |
| HL Hecla Mining Co. | New | 0.04% | +0.04 |
| XYZ Block Inc. | New | 0.04% | +0.04 |
| DDOG Datadog Inc. Class A | Add +379.0% | 0.05% | +0.04 |
| SPG Simon Property Group Inc. | Add +0.3% | 0.37% | +0.04 |
| IJR iShares Core S&P Small-Cap E | Add +225.6% | 0.05% | +0.04 |
| SFD Smithfield Foods Inc. | New | 0.03% | +0.03 |
| GHC Graham Holdings Co. Class B | Add +1.1% | 0.19% | +0.03 |
| GRMN Garmin Ltd. | Add +28.5% | 0.10% | +0.03 |
| MIR Mirion Technologies Inc. | New | 0.03% | +0.03 |
| KMPR Kemper Corp. | Add +783.8% | 0.03% | +0.03 |
| PNFP Pinnacle Financial Partners | Add +343.8% | 0.04% | +0.03 |
| TTD Trade Desk Inc./the Class A | New | 0.02% | +0.02 |
| PRGO Perrigo Co. PLC | Add +695.7% | 0.03% | +0.02 |
| MKTX Marketaxess Holdings Inc. | Add +346.0% | 0.03% | +0.02 |
| QTWO Q2 Holdings Inc. | New | 0.02% | +0.02 |
| WAY Waystar Holding Corp. | New | 0.02% | +0.02 |
| NTNX Nutanix Inc. Class A | New | 0.02% | +0.02 |
| WBD Warner Bros Discovery Inc. | Add +4.8% | 0.05% | +0.02 |
| CZR Caesars Entertainment Inc. | Add +348.6% | 0.03% | +0.02 |
| TLN Talen Energy Corp. | New | 0.02% | +0.02 |
| WMT Walmart Inc. | Add +3.3% | 0.56% | +0.02 |
| NE Noble Corp. PLC | New | 0.02% | +0.02 |
| ENPH Enphase Energy Inc. | Add +384.7% | 0.03% | +0.02 |
| TDY Teledyne Technologies Inc. | Add +52.1% | 0.05% | +0.02 |
| VCTR Victory Capital Holding - A | New | 0.02% | +0.02 |
| TRU Transunion | New | 0.02% | +0.02 |
| FTI Technipfmc PLC | New | 0.02% | +0.02 |
| EHC Encompass Health Corp. | Add +109.5% | 0.03% | +0.02 |
| TWLO Twilio Inc. Class A | New | 0.02% | +0.02 |
| VNT Vontier Corp. | Add +1.6% | 0.18% | +0.02 |
| UNM Unum Group | Add +53.5% | 0.05% | +0.02 |
| VCYT Veracyte Inc. | New | 0.02% | +0.02 |
| VTR Ventas Inc. | Add +2.4% | 0.19% | +0.01 |
| KEX Kirby Corp. | Add +312.7% | 0.02% | +0.01 |
| WMS Advanced Drainage Systems Inc. | Add +49.6% | 0.03% | +0.01 |
| PLXS Plexus Corp. | Add +56.1% | 0.04% | +0.01 |
| KGS Kodiak Gas Services Inc. | New | 0.01% | +0.01 |
| KD Kyndryl Holdings Inc. | Add +205.3% | 0.02% | +0.01 |
| VSAT Viasat Inc. | Add +33.1% | 0.02% | +0.01 |
| REYN Reynolds Consumer Products I | Add +20.9% | 0.05% | +0.01 |
| CROX Crocs Inc. | Add +87.3% | 0.04% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 2,173 | $10.1B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q1 2026 | 2,191 | $9.2B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q4 2025 | 2,204 | $9.4B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q3 2025 | 2,081 | $9.8B | NVDA, MSFT, AAPL, AMZN, META |
| Q2 2025 | 1,583 | $9.3B | MSFT, NVDA, AAPL, AMZN, META |
| Q1 2025 | 1,581 | $8.8B | AAPL, MSFT, NVDA, AMZN, META |
| Q4 2024 | 1,587 | $8.9B | AAPL, MSFT, NVDA, AMZN, META |
| Q3 2024 | 1,600 | $9.4B | AAPL, MSFT, NVDA, AMZN, META |
| Q2 2024 | 1,605 | $8.9B | MSFT, AAPL, NVDA, AMZN, META |
| Q1 2024 | 1,598 | $8.8B | MSFT, AAPL, NVDA, AMZN, META |