State of Alaska, Department of Revenue
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 23, 2026), State of Alaska, Department of Revenue reported 2,204 stock positions worth $9.4 billion. Its top holding was Nvidia (NVDA) at 5.5% of the portfolio, followed by Apple (AAPL, 5.3%) and Microsoft (MSFT, 4.9%). Compared with Q3 2025, it opened 164 new positions, sold out of 43, added to 777 and reduced 974. The biggest buy was a new position in CRH (CRH) and the biggest sale Microsoft (MSFT, shares −6%).
- Most Recent 13F
- Q2 2026
- Location
- JUNEAU, AK
- CIK
- 0001370102
- Portfolio Value
- $9.4B (Q4 2025)
- SEC Filing
- 0001370102-26-000002 ↗ filed Jan 23, 2026
Holdings Value
Holdings 2,204 stocks · $9.4B
| NVDA Nvidia Corp. | 5.47% | 2,758,160 | $514.4M | Reduce -6.9% |
| AAPL Apple Inc. | 5.33% | 1,843,985 | $501.3M | Reduce -6.2% |
| MSFT Microsoft Corp. | 4.87% | 946,100 | $457.6M | Reduce -5.8% |
| AMZN Amazon.com Inc. | 2.84% | 1,155,651 | $266.7M | Reduce -6.2% |
| GOOGL Alphabet Inc. Class A | 2.23% | 669,186 | $209.5M | Reduce -6.6% |
| GOOG Alphabet Inc. Class C | 2.23% | 667,162 | $209.4M | Reduce -5.7% |
| AVGO Broadcom Inc. | 2.07% | 563,513 | $195.0M | Reduce -5.0% |
| META Meta Platforms Inc. Class A | 1.96% | 279,673 | $184.6M | Reduce -4.0% |
| TSLA Tesla Inc. | 1.57% | 327,786 | $147.4M | Reduce -5.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.26% | 235,032 | $118.1M | Reduce -6.0% |
| LLY Eli Lilly & Co. | 1.07% | 93,957 | $101.0M | Reduce -6.2% |
| JPM JPMorgan Chase & Co. | 0.93% | 271,069 | $87.3M | Reduce -9.8% |
| WELL Welltower Inc. | 0.81% | 408,406 | $75.8M | Add +2.3% |
| PLD Prologis Inc. | 0.75% | 550,284 | $70.2M | Reduce -0.6% |
| XOM Exxon Mobil Corp. | 0.69% | 540,637 | $65.1M | Reduce -12.3% |
| JNJ Johnson & Johnson | 0.68% | 309,642 | $64.1M | Reduce -5.4% |
| MA Mastercard Inc. Class A | 0.68% | 111,307 | $63.5M | Reduce -6.1% |
| V Visa Inc. Class A | 0.63% | 168,298 | $59.0M | Reduce -7.2% |
| WMT Walmart Inc. | 0.59% | 495,951 | $55.3M | Reduce -6.2% |
| ABBV Abbvie Inc. | 0.59% | 241,809 | $55.3M | Reduce -5.0% |
| AMT American Tower Corp. | 0.52% | 277,827 | $48.8M | Reduce -0.4% |
| COST Costco Wholesale Corp. | 0.51% | 56,110 | $48.4M | Reduce -5.7% |
| EQIX Equinix Inc. | 0.47% | 58,000 | $44.4M | Reduce -0.6% |
| MU Micron Technology Inc. | 0.47% | 155,579 | $44.4M | Reduce -4.7% |
| AMD Advanced Micro Devices | 0.46% | 203,972 | $43.7M | Reduce -5.5% |
| PG The Procter & Gamble Co. | 0.45% | 298,204 | $42.7M | Reduce -5.5% |
| NFLX Netflix Inc. | 0.45% | 450,725 | $42.3M | Reduce -7.8% |
| PLTR Palantir Technologies Inc. Class A | 0.44% | 235,285 | $41.8M | Reduce -3.4% |
| CSCO Cisco Systems Inc. | 0.43% | 521,384 | $40.2M | Reduce -5.7% |
| ORCL Oracle Corp. | 0.42% | 200,720 | $39.1M | Reduce -5.5% |
| UNH Unitedhealth Group Inc. | 0.40% | 114,687 | $37.9M | Reduce -8.0% |
| WFC Wells Fargo & Co. | 0.39% | 396,029 | $36.9M | Reduce -32.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.39% | 667,258 | $36.7M | Reduce -8.8% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.39% | 123,852 | $36.7M | Reduce -4.5% |
| SPG Simon Property Group Inc. | 0.38% | 192,374 | $35.6M | Reduce -0.7% |
| CVX Chevron Corp. | 0.37% | 230,894 | $35.2M | Reduce -7.0% |
| HD Home Depot Inc. | 0.36% | 99,278 | $34.2M | Reduce -6.8% |
| QCOM Qualcomm Inc. | 0.35% | 193,530 | $33.1M | Reduce -4.7% |
| MRK Merck & Co. Inc. | 0.35% | 311,175 | $32.8M | Add +0.2% |
| PM Philip Morris International | 0.34% | 200,828 | $32.2M | Reduce -6.1% |
| GE General Electric filed as GE AEROSPACE | 0.34% | 104,359 | $32.1M | Reduce -8.2% |
| DLR Digital Realty Trust Inc. | 0.33% | 201,932 | $31.2M | Add +1.2% |
| O Realty Income Corp. | 0.33% | 544,134 | $30.7M | Add +0.6% |
| GS Goldman Sachs Group Inc. | 0.32% | 34,184 | $30.0M | Reduce -7.5% |
| KO The Coca-Cola Co. | 0.30% | 407,967 | $28.5M | Reduce -1.5% |
| ABT Abbott Laboratories | 0.30% | 223,948 | $28.1M | Reduce -2.6% |
| LOW Lowe's Cos Inc. | 0.29% | 114,950 | $27.7M | Reduce -3.5% |
| CAT Caterpillar Inc. | 0.28% | 46,788 | $26.8M | Reduce -7.1% |
| AXP American Express Co. | 0.27% | 69,565 | $25.7M | Reduce -6.8% |
| VZ Verizon Communications Inc. | 0.27% | 629,933 | $25.7M | Reduce -4.9% |
| CRM Salesforce Inc. | 0.27% | 94,257 | $25.0M | Reduce -8.3% |
| RTX RTX Corp. | 0.26% | 134,902 | $24.7M | Reduce -5.6% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.26% | 160,782 | $24.7M | Reduce -5.1% |
| PEP Pepsico Inc. | 0.26% | 171,384 | $24.6M | Reduce -8.1% |
| T AT&T Inc. | 0.26% | 984,578 | $24.5M | Reduce -5.8% |
| PSA Public Storage | 0.26% | 93,685 | $24.3M | Reduce -0.7% |
| COF Capital One Financial Corp. | 0.25% | 95,096 | $23.0M | Reduce -6.6% |
| CCI Crown Castle Inc. | 0.24% | 257,740 | $22.9M | Reduce -0.8% |
| INTU Intuit Inc. | 0.24% | 33,737 | $22.3M | Reduce -6.4% |
| MCD McDonald's Corp. | 0.23% | 71,030 | $21.7M | Reduce -7.1% |
| TMO Thermo Fisher Scientific Inc. | 0.23% | 37,241 | $21.6M | Reduce -7.9% |
| VTR Ventas Inc. | 0.23% | 278,447 | $21.5M | Add +2.9% |
| MS Morgan Stanley | 0.23% | 120,482 | $21.4M | Reduce -7.7% |
| LRCX Lam Research Corp. | 0.23% | 124,253 | $21.3M | Reduce -8.2% |
| AMGN Amgen Inc. | 0.22% | 64,375 | $21.1M | Reduce -2.4% |
| C Citigroup Inc. | 0.22% | 177,911 | $20.8M | Reduce -10.0% |
| AMAT Applied Materials Inc. | 0.22% | 79,577 | $20.4M | Reduce -7.0% |
| ACN Accenture PLC Class A | 0.21% | 75,331 | $20.2M | Reduce -6.4% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.21% | 177,338 | $20.2M | Reduce -8.0% |
| ISRG Intuitive Surgical Inc. | 0.21% | 35,100 | $19.9M | Reduce -8.3% |
| GILD Gilead Sciences Inc. | 0.21% | 160,773 | $19.7M | Reduce -5.4% |
| LIN Linde PLC | 0.21% | 46,202 | $19.7M | Reduce -7.9% |
| ADBE Adobe Inc. | 0.20% | 54,191 | $19.0M | Reduce -7.3% |
| GHC Graham Holdings Co. Class B | 0.19% | 16,265 | $17.9M | Add +3.4% |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 0.19% | 635,420 | $17.9M | Add +0.6% |
| APP AppLovin Corp. Class A | 0.19% | 26,510 | $17.9M | Reduce -8.4% |
| KLAC KLA Corp. | 0.19% | 14,600 | $17.7M | Reduce -6.4% |
| GEV GE Vernova Inc. | 0.19% | 27,080 | $17.7M | Reduce -9.0% |
| BA The Boeing Co. | 0.19% | 80,262 | $17.4M | Reduce -1.4% |
| PFE Pfizer Inc. | 0.18% | 696,922 | $17.4M | Reduce -4.6% |
| CMCSA Comcast Corp. Class A | 0.18% | 575,293 | $17.2M | Reduce -5.0% |
| BKNG Booking Holdings Inc. | 0.18% | 3,202 | $17.1M | Reduce -8.4% |
| CW Curtiss-Wright Corp. | 0.18% | 30,747 | $16.9M | Reduce -1.4% |
| UBER Uber Technologies Inc. | 0.18% | 206,603 | $16.9M | Reduce -7.8% |
| NEE Nextera Energy Inc. | 0.18% | 206,899 | $16.6M | Reduce -6.3% |
| SCHW Schwab (charles) Corp. | 0.18% | 165,748 | $16.6M | Reduce -9.6% |
| MO Altria Group Inc. | 0.18% | 286,170 | $16.5M | Reduce -4.5% |
| EXR Extra Space Storage Inc. | 0.17% | 125,195 | $16.3M | Reduce -0.6% |
| INTC Intel Corp. | 0.17% | 441,766 | $16.3M | Reduce -6.1% |
| APH Amphenol Corp. Class A | 0.17% | 120,462 | $16.3M | Reduce -8.0% |
| SPGI S&P Global Inc. | 0.17% | 30,804 | $16.1M | Reduce -8.7% |
| MDT Medtronic PLC | 0.17% | 167,223 | $16.1M | Reduce -5.6% |
| AMP Ameriprise Financial Inc. | 0.17% | 32,191 | $15.8M | Reduce -3.3% |
| TXN Texas Instruments Inc. | 0.17% | 90,138 | $15.6M | Reduce -9.3% |
| NOW ServiceNow Inc. | 0.17% | 101,945 | $15.6M | Reduce -8.8% |
| BLK BlackRock Inc. | 0.16% | 14,368 | $15.4M | Reduce -8.7% |
| VNT Vontier Corp. | 0.16% | 411,958 | $15.3M | Reduce -0.3% |
| AVB Avalonbay Communities Inc. | 0.16% | 84,338 | $15.3M | Reduce -1.0% |
| VRTX Vertex Pharmaceuticals Inc. | 0.16% | 32,915 | $14.9M | Reduce -8.2% |
| COP Conocophillips | 0.16% | 158,980 | $14.9M | Reduce -33.9% |
Portfolio Sells Q3 2025 → Q4 2025
| MSFT Microsoft Corp. | Reduce -5.8% | 4.87% | −0.45 |
| META Meta Platforms Inc. Class A | Reduce -4.0% | 1.96% | −0.22 |
| ORCL Oracle Corp. | Reduce -5.5% | 0.42% | −0.19 |
| NVDA Nvidia Corp. | Reduce -6.9% | 5.47% | −0.18 |
| SEIC Sei Investments Company | Reduce -95.3% | 0.01% | −0.16 |
| NFLX Netflix Inc. | Reduce -7.8% | 0.45% | −0.15 |
| CACI Caci International Inc. Class A | Reduce -92.3% | 0.01% | −0.13 |
| WFC Wells Fargo & Co. | Reduce -32.5% | 0.39% | −0.11 |
| MSM MSC Industrial Direct Co. Class A | Reduce -92.5% | 0.01% | −0.09 |
| CHE Chemed Corp. | Reduce -92.9% | 0.01% | −0.08 |
| HD Home Depot Inc. | Reduce -6.8% | 0.36% | −0.08 |
| COP Conocophillips | Reduce -33.9% | 0.16% | −0.07 |
| COOP Mr Cooper Group Inc. | Sold out | 0.00% | −0.07 |
| LLYVK Liberty Media Corp.-Liberty-C | Sold out | 0.00% | −0.06 |
| CXT Crane NXT Co. | Reduce -94.0% | 0.00% | −0.05 |
| COST Costco Wholesale Corp. | Reduce -5.7% | 0.51% | −0.05 |
| SLVM Sylvamo Corp. | Reduce -84.5% | 0.01% | −0.05 |
| UBER Uber Technologies Inc. | Reduce -7.8% | 0.18% | −0.04 |
| NOW ServiceNow Inc. | Reduce -8.8% | 0.17% | −0.04 |
| SNDK Sandisk Corp. | Reduce -79.7% | 0.04% | −0.04 |
| MTG Mgic Investment Corp. | Reduce -87.2% | 0.01% | −0.04 |
| DBX Dropbox Inc. Class A | Reduce -89.0% | 0.01% | −0.04 |
| STRL Sterling Infrastructure Inc. | Reduce -79.9% | 0.01% | −0.04 |
| T AT&T Inc. | Reduce -5.8% | 0.26% | −0.04 |
| PG The Procter & Gamble Co. | Reduce -5.5% | 0.45% | −0.04 |
| JPM JPMorgan Chase & Co. | Reduce -9.8% | 0.93% | −0.04 |
| MANH Manhattan Associates Inc. | Reduce -75.2% | 0.01% | −0.04 |
| SNDR Schneider National Inc. Class B | Reduce -87.9% | 0.01% | −0.04 |
| MCK McKesson Corp. | Reduce -28.8% | 0.14% | −0.04 |
| SPXC SPX Technologies Inc. | Reduce -80.1% | 0.01% | −0.04 |
| UNH Unitedhealth Group Inc. | Reduce -8.0% | 0.40% | −0.04 |
| SAIC Science Applications Inte | Reduce -79.9% | 0.01% | −0.03 |
| LIN Linde PLC | Reduce -7.9% | 0.21% | −0.03 |
| ARE Alexandria Real Estate Equit | Reduce -0.9% | 0.05% | −0.03 |
| EXP Eagle Materials Inc. | Reduce -81.5% | 0.01% | −0.03 |
| DY Dycom Industries Inc. | Reduce -80.2% | 0.01% | −0.03 |
| EMBC Embecta Corp. | Reduce -88.1% | 0.00% | −0.03 |
| COR Cencora Inc. | Reduce -34.5% | 0.09% | −0.03 |
| COIN Coinbase Global Inc. Class A | Reduce -7.4% | 0.05% | −0.03 |
| ETN Eaton Corp. PLC | Reduce -7.9% | 0.13% | −0.03 |
| AMT American Tower Corp. | Reduce -0.4% | 0.52% | −0.03 |
| LMT Lockheed Martin Corp. | Reduce -18.7% | 0.13% | −0.03 |
| HOOD Robinhood Markets Inc. Class A | Reduce -7.6% | 0.09% | −0.03 |
| IRM Iron Mountain Inc. | Reduce -0.6% | 0.15% | −0.03 |
| SNPS Synopsys Inc. | Reduce -19.4% | 0.11% | −0.03 |
| RXO Rxo Inc. | Reduce -63.5% | 0.01% | −0.03 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -6.0% | 1.26% | −0.03 |
| KR Kroger Co. | Reduce -32.2% | 0.05% | −0.03 |
| MO Altria Group Inc. | Reduce -4.5% | 0.18% | −0.03 |
| AM Antero Midstream Corp. | Reduce -68.4% | 0.01% | −0.03 |
Portfolio Buys Q3 2025 → Q4 2025
| CRH CRH PLC | New | 0.09% | +0.09 |
| MRK Merck & Co. Inc. | Add +0.2% | 0.35% | +0.08 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +187.1% | 0.12% | +0.08 |
| WELL Welltower Inc. | Add +2.3% | 0.81% | +0.08 |
| CVNA Carvana Co. | New | 0.06% | +0.06 |
| PRIM Primoris Services Corp. | Add +1027.3% | 0.04% | +0.04 |
| VTR Ventas Inc. | Add +2.9% | 0.23% | +0.04 |
| ARES Ares Management Corp. Class A | New | 0.04% | +0.04 |
| PTCT PTC Therapeutics Inc. | Add +952.6% | 0.04% | +0.03 |
| SOLS Solstice Adv Materials Inc. | Add +375.9% | 0.04% | +0.03 |
| LKQ LKQ Corp. | Add +372.1% | 0.04% | +0.03 |
| CWST Casella Waste Systems Inc. Class A | New | 0.03% | +0.03 |
| EMN Eastman Chemical Co. | Add +84.2% | 0.07% | +0.03 |
| CEG Constellation Energy | Add +11.3% | 0.14% | +0.03 |
| IWM iShares Russell 2000 ETF | New | 0.03% | +0.03 |
| ARWR Arrowhead Pharmaceuticals Inc. | Add +1.2% | 0.05% | +0.03 |
| BTSG Brightspring Health Services | Add +540.6% | 0.03% | +0.02 |
| INDV Indivior Ltd. | New | 0.02% | +0.02 |
| RRR Red Rock Resorts Inc. Class A | Add +1111.8% | 0.03% | +0.02 |
| KMX Carmax Inc. | Add +163.2% | 0.04% | +0.02 |
| KRYS Krystal Biotech Inc. | Add +25.4% | 0.05% | +0.02 |
| UPWK Upwork Inc. | Add +1566.8% | 0.02% | +0.02 |
| MHK Mohawk Industries Inc. | Add +93.3% | 0.05% | +0.02 |
| CTRE Caretrust REIT Inc. | Add +14.3% | 0.09% | +0.02 |
| LOPE Grand Canyon Education Inc. | Add +252.6% | 0.03% | +0.02 |
| SITM Sitime Corp. | Add +21.6% | 0.05% | +0.02 |
| FIBK First Interstate Bancsys-A | Add +1104.9% | 0.02% | +0.02 |
| AHR American Healthcare REIT Inc. | Add +28.2% | 0.05% | +0.02 |
| PINS Pinterest Inc. Class A | New | 0.02% | +0.02 |
| PTGX Protagonist Therapeutics Inc. | Add +29.5% | 0.04% | +0.02 |
| NET Cloudflare Inc. Class A | New | 0.02% | +0.02 |
| ENVA Enova International Inc. | Add +35.6% | 0.03% | +0.01 |
| ADMA Adma Biologics Inc. | Add +29.9% | 0.03% | +0.01 |
| VSXY Victoria's Secret & Co. | Add +2.0% | 0.03% | +0.01 |
| ACAD Acadia Pharmaceuticals Inc. | Add +36.4% | 0.03% | +0.01 |
| OUT Outfront Media Inc. | Add +4.2% | 0.04% | +0.01 |
| HE Hawaiian Electric Inds | Add +1548.0% | 0.01% | +0.01 |
| VITL Vital Farms Inc. | New | 0.01% | +0.01 |
| GKOS Glaukos Corp. | Add +1.6% | 0.04% | +0.01 |
| RGLD Royal Gold Inc. | Add +53.5% | 0.03% | +0.01 |
| PLMR Palomar Holdings Inc. | Add +35.1% | 0.03% | +0.01 |
| RBLX Roblox Corp. Class A | New | 0.01% | +0.01 |
| LUMN Lumen Technologies Inc. | Add +1.6% | 0.04% | +0.01 |
| SEZL Sezzle Inc. | New | 0.01% | +0.01 |
| AEIS Advanced Energy Industries | Add +1.5% | 0.05% | +0.01 |
| BAH Booz Allen Hamilton Holdings | Add +301.6% | 0.01% | +0.01 |
| OMC Omnicom Group | Add +26.8% | 0.04% | +0.01 |
| EPRT Essential Properties Realty | Add +12.6% | 0.07% | +0.01 |
| HNI Hni Corp. | Add +93.4% | 0.02% | +0.01 |
| BTU Peabody Energy Corp. | Add +0.4% | 0.07% | +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 |