Treasurer of the State of North Carolina
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 13, 2025), Treasurer of the State of North Carolina reported 1,013 stock positions worth $25.7 billion. Its top holding was Apple (AAPL) at 6.4% of the portfolio, followed by Nvidia (NVDA, 5.6%) and Microsoft (MSFT, 5.6%). Compared with Q3 2024, it opened 3 new positions, sold out of 12, added to 732 and reduced 278. The biggest buy was Tesla (TSLA, shares +1%) and the biggest sale Thermo Fisher Scientific (TMO, shares −8%).
- Most Recent 13F
- Q2 2026
- Location
- RALEIGH, NC
- CIK
- 0001761054
- Portfolio Value
- $25.7B (Q4 2024)
- SEC Filing
- 0001761054-25-000003 ↗ filed Feb 13, 2025
Holdings Value
Holdings 1,013 stocks · $25.7B
| AAPL Apple Inc. | 6.38% | 6,535,864 | $1.6B | Reduce -0.8% |
| NVDA Nvidia Corp. | 5.65% | 10,787,937 | $1.4B | Add +0.6% |
| MSFT Microsoft Corp. | 5.59% | 3,403,483 | $1.4B | Add +0.8% |
| AMZN Amazon.com Inc. | 3.71% | 4,342,396 | $952.7M | Add +1.8% |
| META Meta Platforms Inc. Class A | 2.37% | 1,040,783 | $609.4M | Add +0.6% |
| TSLA Tesla Inc. | 2.03% | 1,292,628 | $522.0M | Add +0.9% |
| GOOGL Alphabet Inc. Class A | 2.03% | 2,749,016 | $520.4M | Add +0.7% |
| AVGO Broadcom Inc. | 1.96% | 2,171,415 | $503.4M | Add +0.8% |
| GOOG Alphabet Inc. Class C | 1.69% | 2,274,306 | $433.1M | Reduce -0.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.46% | 827,712 | $375.2M | Add +0.7% |
| JPM JPMorgan Chase & Co. | 1.18% | 1,259,400 | $301.9M | Reduce -1.0% |
| LLY Eli Lilly & Co. | 1.16% | 386,386 | $298.3M | Add +1.0% |
| V Visa Inc. Class A | 0.88% | 718,317 | $227.0M | Add +0.6% |
| UNH Unitedhealth Group Inc. | 0.84% | 427,684 | $216.3M | Add +0.9% |
| XOM Exxon Mobil Corp. | 0.83% | 1,974,653 | $212.4M | Add +0.6% |
| MA Mastercard Inc. Class A | 0.79% | 385,008 | $202.7M | Reduce -0.2% |
| PG The Procter & Gamble Co. | 0.74% | 1,126,656 | $188.9M | Add +0.7% |
| HD Home Depot Inc. | 0.73% | 484,877 | $188.6M | Add +11.8% |
| WMT Walmart Inc. | 0.72% | 2,055,689 | $185.7M | Add +0.8% |
| NFLX Netflix Inc. | 0.71% | 203,215 | $181.1M | Add +1.1% |
| COST Costco Wholesale Corp. | 0.70% | 195,066 | $178.7M | Add +0.6% |
| JNJ Johnson & Johnson | 0.65% | 1,155,604 | $167.1M | Add +4.3% |
| ABBV Abbvie Inc. | 0.62% | 891,351 | $158.4M | Add +1.6% |
| CRM Salesforce Inc. | 0.57% | 434,359 | $145.2M | Reduce -2.2% |
| ORCL Oracle Corp. | 0.54% | 839,065 | $139.8M | Add +0.6% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.52% | 3,011,171 | $132.3M | Reduce -9.9% |
| CSCO Cisco Systems Inc. | 0.49% | 2,108,786 | $124.8M | Reduce -0.4% |
| MRK Merck & Co. Inc. | 0.48% | 1,225,418 | $121.9M | Add +1.6% |
| CVX Chevron Corp. | 0.43% | 758,071 | $109.8M | Add +0.6% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.42% | 495,574 | $108.9M | Add +0.8% |
| KO The Coca-Cola Co. | 0.42% | 1,749,506 | $108.9M | Add +0.5% |
| WFC Wells Fargo & Co. | 0.41% | 1,505,221 | $105.7M | Reduce -4.4% |
| NOW ServiceNow Inc. | 0.40% | 97,707 | $103.6M | Add +0.6% |
| ACN Accenture PLC Class A | 0.39% | 283,477 | $99.7M | Add +0.5% |
| ADBE Adobe Inc. | 0.37% | 213,228 | $94.8M | Add +1.1% |
| PEP Pepsico Inc. | 0.37% | 623,313 | $94.8M | Add +0.8% |
| MCD McDonald's Corp. | 0.37% | 325,499 | $94.4M | Add +0.5% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.37% | 845,749 | $94.2M | Add +0.1% |
| ABT Abbott Laboratories | 0.36% | 820,347 | $92.8M | Add +5.5% |
| TMO Thermo Fisher Scientific Inc. | 0.35% | 174,586 | $90.8M | Reduce -8.3% |
| TXN Texas Instruments Inc. | 0.35% | 482,398 | $90.5M | Add +1.0% |
| AXP American Express Co. | 0.35% | 304,439 | $90.4M | Add +0.8% |
| QCOM Qualcomm Inc. | 0.35% | 587,206 | $90.2M | Add +0.9% |
| LIN Linde PLC | 0.34% | 211,395 | $88.5M | Add +0.6% |
| INTU Intuit Inc. | 0.34% | 140,693 | $88.4M | Add +1.1% |
| AMD Advanced Micro Devices | 0.34% | 725,175 | $87.6M | Add +0.6% |
| T AT&T Inc. | 0.34% | 3,790,275 | $86.3M | Reduce -7.1% |
| PM Philip Morris International | 0.34% | 716,633 | $86.2M | Add +0.8% |
| ISRG Intuitive Surgical Inc. | 0.33% | 160,391 | $83.7M | Add +0.5% |
| CAT Caterpillar Inc. | 0.32% | 229,295 | $83.2M | Add +0.8% |
| VZ Verizon Communications Inc. | 0.32% | 2,075,431 | $83.0M | Add +1.0% |
| GS Goldman Sachs Group Inc. | 0.31% | 138,708 | $79.4M | Reduce -2.2% |
| GE General Electric filed as GE AEROSPACE | 0.31% | 473,555 | $79.0M | Reduce -0.5% |
| BKNG Booking Holdings Inc. | 0.30% | 15,721 | $78.1M | Reduce -2.1% |
| DHR Danaher Corp. | 0.30% | 338,636 | $77.7M | Add +0.9% |
| CMCSA Comcast Corp. Class A | 0.30% | 2,058,872 | $77.3M | Reduce -0.0% |
| PFE Pfizer Inc. | 0.29% | 2,849,342 | $75.6M | Add +1.6% |
| BLK BlackRock Inc. | 0.29% | 71,474 | $73.3M | Add +1.8% |
| PLTR Palantir Technologies Inc. Class A | 0.27% | 932,029 | $70.5M | Add +4.8% |
| PGR Progressive Corp. | 0.27% | 293,372 | $70.3M | Add +0.9% |
| AMAT Applied Materials Inc. | 0.27% | 429,111 | $69.8M | Add +0.6% |
| SPGI S&P Global Inc. | 0.27% | 138,003 | $68.7M | Add +0.3% |
| AMGN Amgen Inc. | 0.27% | 261,132 | $68.1M | Add +0.5% |
| RTX RTX Corp. | 0.26% | 585,038 | $67.7M | Add +0.6% |
| ADP Automatic Data Processing | 0.26% | 228,476 | $66.9M | Add +23.6% |
| MS Morgan Stanley | 0.26% | 523,077 | $65.8M | Add +0.7% |
| NEE Nextera Energy Inc. | 0.25% | 904,694 | $64.9M | Add +0.6% |
| HON Honeywell International Inc. | 0.25% | 286,708 | $64.8M | Add +0.6% |
| LOW Lowe's Cos Inc. | 0.24% | 251,917 | $62.2M | Add +0.6% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.24% | 511,866 | $61.8M | Add +0.5% |
| UNP Union Pacific Corp. | 0.24% | 268,407 | $61.2M | Add +0.6% |
| COP Conocophillips | 0.24% | 612,020 | $60.7M | Add +19.5% |
| PANW Palo Alto Networks Inc. | 0.24% | 333,294 | $60.6M | Add +2.8% |
| C Citigroup Inc. | 0.23% | 854,291 | $60.1M | Reduce -0.8% |
| BSX Boston Scientific Corp. | 0.23% | 665,490 | $59.4M | Add +0.4% |
| BMY Bristol-Myers Squibb Co. | 0.23% | 1,050,308 | $59.4M | Reduce -1.5% |
| SYK Stryker Corp. | 0.23% | 164,390 | $59.2M | Add +0.8% |
| GILD Gilead Sciences Inc. | 0.23% | 638,979 | $59.0M | Add +1.1% |
| ETN Eaton Corp. PLC | 0.22% | 173,625 | $57.6M | Reduce -0.5% |
| MDT Medtronic PLC | 0.22% | 721,208 | $57.6M | Add +1.1% |
| ANET Arista Networks Inc. | 0.22% | 514,072 | $56.8M | Add +1.8% |
| ADI Analog Devices Inc. | 0.22% | 261,169 | $55.5M | Add +0.8% |
| CB Chubb Ltd. | 0.22% | 200,730 | $55.5M | Add +6.2% |
| UBER Uber Technologies Inc. | 0.22% | 918,212 | $55.4M | Add +1.6% |
| BA The Boeing Co. | 0.21% | 311,254 | $55.1M | Add +22.5% |
| BX Blackstone Inc. | 0.21% | 317,445 | $54.7M | Add +2.9% |
| FISV Fiserv Inc. | 0.20% | 249,151 | $51.2M | Reduce -0.6% |
| SCHW Schwab (charles) Corp. | 0.19% | 674,166 | $49.9M | Add +0.7% |
| LMT Lockheed Martin Corp. | 0.19% | 102,674 | $49.9M | Add +3.9% |
| TMUS T-Mobile US Inc. | 0.19% | 225,486 | $49.8M | Add +0.7% |
| DE Deere & Co. | 0.19% | 113,943 | $48.3M | Add +0.5% |
| MU Micron Technology Inc. | 0.19% | 570,246 | $48.0M | Add +11.1% |
| MRSH Marsh & McLennan Cos | 0.18% | 222,718 | $47.3M | Add +0.5% |
| VRTX Vertex Pharmaceuticals Inc. | 0.18% | 116,793 | $47.0M | Add +0.5% |
| KLAC KLA Corp. | 0.18% | 72,211 | $45.5M | Add +0.9% |
| SBUX Starbucks Corp. | 0.18% | 498,511 | $45.5M | Add +0.6% |
| LRCX Lam Research Corp. | 0.17% | 618,759 | $44.7M | Reduce -0.6% |
| KKR KKR & Co. Inc. | 0.17% | 296,271 | $43.8M | Add +0.6% |
| PLD Prologis Inc. | 0.17% | 406,536 | $43.0M | Add +0.3% |
| CME Cme Group Inc. | 0.17% | 182,706 | $42.4M | Add +1.5% |
Portfolio Sells Q3 2024 → Q4 2024
| TMO Thermo Fisher Scientific Inc. | Reduce -8.3% | 0.35% | −0.12 |
| REGN Regeneron Pharmaceuticals | Reduce -0.8% | 0.16% | −0.08 |
| IVV iShares Core S&P 500 ETF | Reduce -62.0% | 0.05% | −0.08 |
| ELV Elevance Health Inc. | Reduce -2.1% | 0.15% | −0.07 |
| CI The Cigna Group | Reduce -10.8% | 0.15% | −0.07 |
| RSG Republic Services Inc. | Reduce -43.9% | 0.08% | −0.06 |
| SMCI Super Micro Computer Inc. | Sold out | 0.00% | −0.05 |
| GE General Electric | Reduce -0.5% | 0.31% | −0.05 |
| CL Colgate-Palmolive Co. | Reduce -10.0% | 0.16% | −0.05 |
| CVS CVS Health Corp. | Reduce -1.0% | 0.10% | −0.05 |
| CMCSA Comcast Corp. Class A | Reduce -0.0% | 0.30% | −0.04 |
| MCHP Microchip Technology Inc. | Reduce -20.5% | 0.05% | −0.04 |
| MRO Marathon Oil Corp. | Sold out | 0.00% | −0.04 |
| INTC Intel Corp. | Reduce -4.0% | 0.15% | −0.04 |
| WM Waste Management Inc. | Reduce -13.7% | 0.15% | −0.03 |
| NKE Nike Inc. Class B | Reduce -0.4% | 0.16% | −0.03 |
| GD General Dynamics Corp. | Reduce -4.5% | 0.13% | −0.03 |
| LRCX Lam Research Corp. | Reduce -0.6% | 0.17% | −0.03 |
| PCAR Paccar Inc. | Reduce -23.6% | 0.09% | −0.03 |
| CE Celanese Corp. | Reduce -31.7% | 0.01% | −0.03 |
| LEN Lennar Corp. Class A | Reduce -1.2% | 0.06% | −0.02 |
| A Agilent Technologies Inc. | Reduce -15.7% | 0.07% | −0.02 |
| FANG Diamondback Energy Inc. | Reduce -25.1% | 0.05% | −0.02 |
| FSLR First Solar Inc. | Reduce -1.6% | 0.05% | −0.02 |
| CARR Carrier Global Corp. | Reduce -1.8% | 0.10% | −0.02 |
| T AT&T Inc. | Reduce -7.1% | 0.34% | −0.02 |
| CFG Citizens Financial Group | Reduce -40.9% | 0.03% | −0.02 |
| VMRK Vivmark Residential | Reduce -25.8% | 0.05% | −0.02 |
| MPC Marathon Petroleum Corp. | Reduce -4.4% | 0.08% | −0.02 |
| VLO Valero Energy Corp. | Reduce -12.9% | 0.07% | −0.02 |
| BWA Borgwarner Inc. | Reduce -55.5% | 0.01% | −0.02 |
| CTLT Catalent Inc. | Sold out | 0.00% | −0.02 |
| BIIB Biogen Inc. | Reduce -2.9% | 0.05% | −0.02 |
| FCN Fti Consulting Inc. | Reduce -48.0% | 0.01% | −0.02 |
| MOH Molina Healthcare Inc. | Reduce -19.7% | 0.03% | −0.02 |
| PSX Phillips 66 | Reduce -0.7% | 0.08% | −0.02 |
| CRL Charles River Laboratories | Reduce -44.0% | 0.02% | −0.02 |
| BR Broadridge Financial Solutio | Reduce -26.6% | 0.05% | −0.02 |
| NFG National Fuel Gas Co. | Reduce -60.8% | 0.01% | −0.02 |
| ETR Entergy Corp. | Reduce -24.4% | 0.09% | −0.02 |
| IDXX Idexx Laboratories Inc. | Reduce -0.1% | 0.06% | −0.01 |
| BAC Bank of America Corp. | Reduce -9.9% | 0.52% | −0.01 |
| BAX Baxter International Inc. | Reduce -1.6% | 0.04% | −0.01 |
| MKL Markel Group Inc. | Reduce -32.2% | 0.04% | −0.01 |
| SWN Southwestern Energy Co. | Sold out | 0.00% | −0.01 |
| BLDR Builders Firstsource Inc. | Reduce -3.5% | 0.03% | −0.01 |
| HII Huntington Ingalls Industrie | Reduce -28.5% | 0.01% | −0.01 |
| MMM 3M Co. | Reduce -1.1% | 0.12% | −0.01 |
| SLB SLB Ltd. | Reduce -0.6% | 0.09% | −0.01 |
| ODFL Old Dominion Freight Line | Reduce -3.4% | 0.06% | −0.01 |
Portfolio Buys Q3 2024 → Q4 2024
| TSLA Tesla Inc. | Add +0.9% | 2.03% | +0.70 |
| AMZN Amazon.com Inc. | Add +1.8% | 3.71% | +0.54 |
| AVGO Broadcom Inc. | Add +0.8% | 1.96% | +0.48 |
| NVDA Nvidia Corp. | Add +0.6% | 5.65% | +0.44 |
| GOOGL Alphabet Inc. Class A | Add +0.7% | 2.03% | +0.22 |
| PLTR Palantir Technologies Inc. Class A | Add +4.8% | 0.27% | +0.14 |
| NFLX Netflix Inc. | Add +1.1% | 0.71% | +0.14 |
| V Visa Inc. Class A | Add +0.6% | 0.88% | +0.10 |
| WMT Walmart Inc. | Add +0.8% | 0.72% | +0.07 |
| BA The Boeing Co. | Add +22.5% | 0.21% | +0.06 |
| NOW ServiceNow Inc. | Add +0.6% | 0.40% | +0.06 |
| ADP Automatic Data Processing | Add +23.6% | 0.26% | +0.06 |
| MRVL Marvell Technology Inc. | Add +0.6% | 0.16% | +0.05 |
| DIS The Walt Disney Co. | Add +0.1% | 0.37% | +0.04 |
| MS Morgan Stanley | Add +0.7% | 0.26% | +0.04 |
| MSTR Strategy Inc. | Add +8.5% | 0.09% | +0.04 |
| PAYX Paychex Inc. | Add +46.0% | 0.11% | +0.04 |
| APO Apollo Global Management Inc. | Add +0.6% | 0.15% | +0.03 |
| HD Home Depot Inc. | Add +11.8% | 0.73% | +0.03 |
| GEV GE Vernova Inc. | Add +0.6% | 0.15% | +0.03 |
| UAL United Airlines Holdings Inc. | Add +11.5% | 0.06% | +0.03 |
| FTNT Fortinet Inc. | Add +9.9% | 0.12% | +0.03 |
| ANET Arista Networks Inc. | Add +1.8% | 0.22% | +0.03 |
| RCL Royal Caribbean Cruises Ltd. | Add +1.3% | 0.12% | +0.03 |
| VRSK Verisk Analytics Inc. | Add +38.0% | 0.09% | +0.03 |
| SMCI Super Micro Computer Inc. | New | 0.03% | +0.03 |
| AXON Axon Enterprise Inc. | Add +2.2% | 0.08% | +0.02 |
| COIN Coinbase Global Inc. Class A | Add +3.3% | 0.09% | +0.02 |
| AXP American Express Co. | Add +0.8% | 0.35% | +0.02 |
| BX Blackstone Inc. | Add +2.9% | 0.21% | +0.02 |
| COF Capital One Financial Corp. | Add +1.5% | 0.16% | +0.02 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +2.1% | 0.14% | +0.02 |
| TEAM Atlassian Corp. Class A | Add +1.9% | 0.07% | +0.02 |
| ALAB Astera Labs Inc. | Add +393.8% | 0.02% | +0.02 |
| DOCU Docusign Inc. | Add +39.1% | 0.04% | +0.02 |
| SCHW Schwab (charles) Corp. | Add +0.7% | 0.19% | +0.02 |
| COP Conocophillips | Add +19.5% | 0.24% | +0.02 |
| MCK McKesson Corp. | Add +3.5% | 0.15% | +0.02 |
| SNOW Snowflake Inc. | Add +0.6% | 0.08% | +0.02 |
| GM General Motors Co. | Add +1.4% | 0.13% | +0.02 |
| SPOT Spotify Technology SA | Add +1.6% | 0.12% | +0.02 |
| PB Prosperity Bancshares Inc. | Add +163.9% | 0.03% | +0.02 |
| BLK BlackRock Inc. | Add +1.8% | 0.29% | +0.02 |
| SYF Synchrony Financial | Add +1.2% | 0.09% | +0.02 |
| EXE Expand Energy Corp. | Add +60.1% | 0.04% | +0.02 |
| GILD Gilead Sciences Inc. | Add +1.1% | 0.23% | +0.02 |
| KKR KKR & Co. Inc. | Add +0.6% | 0.17% | +0.02 |
| HON Honeywell International Inc. | Add +0.6% | 0.25% | +0.02 |
| CCL Carnival Corp. | Add +14.8% | 0.05% | +0.02 |
| VMI Valmont Industries | Add +155.0% | 0.03% | +0.02 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,096 | $38.8B | NVDA, AAPL, IWM, MSFT, AMZN |
| Q1 2026 | 1,006 | $31.8B | NVDA, AAPL, IWM, MSFT, AMZN |
| Q4 2025 | 1,010 | $31.2B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q3 2025 | 1,010 | $32.5B | NVDA, MSFT, AAPL, AMZN, META |
| Q2 2025 | 1,015 | $31.2B | NVDA, MSFT, AAPL, AMZN, META |
| Q1 2025 | 1,007 | $25.1B | AAPL, MSFT, NVDA, AMZN, META |
| Q4 2024 | 1,013 | $25.7B | AAPL, NVDA, MSFT, AMZN, META |
| Q3 2024 | 1,021 | $25.0B | AAPL, MSFT, NVDA, AMZN, META |
| Q2 2024 | 1,020 | $23.6B | MSFT, AAPL, NVDA, AMZN, META |
| Q1 2024 | 1,011 | $22.8B | MSFT, AAPL, NVDA, AMZN, META |