Securian Asset Management, Inc.

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 10, 2025), Securian Asset Management, Inc. reported 926 stock positions worth $3.4 billion. Its top holding was Apple (AAPL) at 5.9% of the portfolio, followed by Nvidia (NVDA, 5.2%) and Microsoft (MSFT, 4.9%). Compared with Q3 2024, it opened 17 new positions, sold out of 13, added to 27 and reduced 841. The biggest buy was a new position in SS SPDR S&P 500 ETF Trust-US (SPY) and the biggest sale iShares MSCI Eafe Min Vol Fa (EFAV, shares −16%).

Most Recent 13F
Q2 2026
Location
ST PAUL, MN
CIK
0001035350
Portfolio Value
$3.4B (Q4 2024)
SEC Filing
0001104659-25-010682 ↗ filed Feb 10, 2025

Holdings Value

0$1.0B$2.0B$3.0B$4.0B Q1 2024: $3.4B Q1 2024 Q2 2024: $3.4B Q2 2024 Q3 2024: $3.5B Q3 2024 Q4 2024: $3.4B $3.4B Q4 2024 Q1 2025: $3.3B Q1 2025 Q2 2025: $3.5B Q2 2025 Q3 2025: $3.8B Q3 2025 Q4 2025: $2.6B Q4 2025 Q1 2026: $2.5B Q1 2026 Q2 2026: $2.8B Q2 2026

Holdings 926 stocks · $3.4B
AAPL Apple Inc. 5.92% 812,411 $203.4M Reduce -3.4%
NVDA Nvidia Corp. 5.15% 1,318,383 $177.0M Reduce -3.1%
MSFT Microsoft Corp. 4.90% 399,593 $168.4M Reduce -2.8%
AMZN Amazon.com Inc. 3.21% 502,972 $110.3M Reduce -2.6%
HDV iShares Core High Dividend E 2.76% 844,932 $94.9M Reduce -1.5%
USMV iShares MSCI USA Min Vol Fac 2.74% 1,058,637 $94.0M Reduce -2.5%
META Meta Platforms Inc. Class A 2.00% 117,166 $68.6M Reduce -3.0%
TSLA Tesla Inc. 1.76% 150,099 $60.6M Reduce -2.2%
GOOGL Alphabet Inc. Class A 1.73% 314,035 $59.4M Reduce -3.1%
EFAV iShares MSCI Eafe Min Vol Fa 1.72% 834,519 $59.0M Reduce -16.4%
AVGO Broadcom Inc. 1.69% 251,024 $58.2M Reduce -2.5%
GOOG Alphabet Inc. Class C 1.42% 255,788 $48.7M Reduce -3.7%
SPLV Invesco S&P 500 Low Volatili 1.41% 690,000 $48.3M No change
BRK.B Berkshire Hathaway Inc. Class B 1.30% 98,513 $44.7M Reduce -2.8%
SCHD Schwab US DVD Equity ETF 1.26% 1,581,000 $43.2M No change
JPM JPMorgan Chase & Co. 1.06% 151,312 $36.3M Reduce -3.8%
LLY Eli Lilly & Co. 0.95% 42,348 $32.7M Reduce -2.9%
IVV iShares Core S&P 500 ETF 0.95% 55,520 $32.7M No change
VOO Vanguard S&P 500 ETF 0.94% 59,633 $32.1M Add +0.9%
V Visa Inc. Class A 0.85% 92,878 $29.4M Add +0.5%
SPY SS SPDR S&P 500 ETF Trust-US 0.77% 44,860 $26.3M New
XOM Exxon Mobil Corp. 0.74% 236,217 $25.4M Reduce -3.9%
UNH Unitedhealth Group Inc. 0.73% 49,462 $25.0M Reduce -3.1%
MA Mastercard Inc. Class A 0.68% 44,056 $23.2M Reduce -3.5%
COST Costco Wholesale Corp. 0.64% 23,814 $21.8M Reduce -2.9%
PG The Procter & Gamble Co. 0.62% 126,573 $21.2M Reduce -2.8%
WMT Walmart Inc. 0.61% 233,291 $21.1M Reduce -2.9%
HD Home Depot Inc. 0.60% 53,385 $20.8M Reduce -2.7%
NFLX Netflix Inc. 0.60% 22,974 $20.5M Reduce -3.2%
JNJ Johnson & Johnson 0.54% 129,399 $18.7M Reduce -2.8%
CRM Salesforce Inc. 0.50% 51,381 $17.2M Reduce -4.1%
ABBV Abbvie Inc. 0.49% 94,975 $16.9M Reduce -2.8%
USIG iShares Broad Usd Investment 0.48% 326,217 $16.4M Add +1.0%
NEAR iShares SH Dba ETF Usd Inc. 0.47% 318,620 $16.1M No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.46% 358,774 $15.8M Reduce -3.9%
ORCL Oracle Corp. 0.42% 86,380 $14.4M Reduce -2.3%
EEMV iShares MSCI Emg MKT Min Vol 0.41% 242,456 $14.1M Reduce -30.2%
IDV iShares International Select 0.40% 500,000 $13.7M No change
MRK Merck & Co. Inc. 0.39% 135,956 $13.5M Reduce -3.0%
CVX Chevron Corp. 0.38% 89,824 $13.0M Reduce -4.5%
KO The Coca-Cola Co. 0.38% 208,373 $13.0M Reduce -2.9%
CSCO Cisco Systems Inc. 0.37% 214,231 $12.7M Reduce -3.9%
WFC Wells Fargo & Co. 0.37% 178,946 $12.6M Reduce -5.0%
ACN Accenture PLC Class A 0.34% 33,583 $11.8M Reduce -3.1%
NOW ServiceNow Inc. 0.34% 11,072 $11.7M Reduce -3.0%
IDEV iShares Core MSCI Dev MKTS 0.34% 180,629 $11.6M New
PEP Pepsico Inc. 0.33% 73,738 $11.2M Reduce -2.9%
MCD McDonald's Corp. 0.33% 38,515 $11.2M Reduce -2.9%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.32% 49,695 $10.9M Reduce -2.5%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.32% 97,330 $10.8M Reduce -3.0%
LIN Linde PLC 0.31% 25,591 $10.7M Reduce -3.8%
TMO Thermo Fisher Scientific Inc. 0.31% 20,571 $10.7M Reduce -2.6%
ABT Abbott Laboratories 0.31% 93,219 $10.5M Reduce -3.1%
AMD Advanced Micro Devices 0.31% 87,218 $10.5M Reduce -2.6%
ADBE Adobe Inc. 0.31% 23,659 $10.5M Reduce -3.5%
PM Philip Morris International 0.29% 83,565 $10.1M Reduce -2.8%
ISRG Intuitive Surgical Inc. 0.29% 19,144 $10.0M Reduce -2.4%
GE General Electric filed as GE AEROSPACE 0.28% 58,168 $9.7M Reduce -3.0%
GS Goldman Sachs Group Inc. 0.28% 16,872 $9.7M Reduce -3.4%
INTU Intuit Inc. 0.28% 15,091 $9.5M Reduce -2.3%
CAT Caterpillar Inc. 0.27% 25,949 $9.4M Reduce -3.2%
TXN Texas Instruments Inc. 0.27% 49,026 $9.2M Reduce -2.9%
QCOM Qualcomm Inc. 0.27% 59,711 $9.2M Reduce -3.1%
VZ Verizon Communications Inc. 0.26% 226,249 $9.0M Reduce -2.8%
AXP American Express Co. 0.26% 29,910 $8.9M Reduce -3.7%
BKNG Booking Holdings Inc. 0.26% 1,779 $8.8M Reduce -4.0%
T AT&T Inc. 0.26% 385,641 $8.8M Reduce -2.8%
EWG iShares MSCI Germany ETF 0.25% 272,291 $8.7M Reduce -39.3%
SPGI S&P Global Inc. 0.25% 17,072 $8.5M Reduce -3.5%
MS Morgan Stanley 0.24% 66,670 $8.4M Reduce -3.2%
PLTR Palantir Technologies Inc. Class A 0.24% 110,168 $8.3M Reduce -1.1%
RTX RTX Corp. 0.24% 71,536 $8.3M Reduce -2.8%
PFE Pfizer Inc. 0.24% 304,576 $8.1M Reduce -2.8%
DHR Danaher Corp. 0.23% 34,548 $7.9M Reduce -2.8%
NEE Nextera Energy Inc. 0.23% 110,522 $7.9M Reduce -2.7%
HON Honeywell International Inc. 0.23% 34,947 $7.9M Reduce -3.0%
CMCSA Comcast Corp. Class A 0.22% 205,152 $7.7M Reduce -4.0%
PGR Progressive Corp. 0.22% 31,484 $7.5M Reduce -2.8%
AMGN Amgen Inc. 0.22% 28,890 $7.5M Reduce -2.8%
LOW Lowe's Cos Inc. 0.22% 30,489 $7.5M Reduce -3.3%
UNP Union Pacific Corp. 0.22% 32,584 $7.4M Reduce -3.3%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.21% 60,618 $7.3M Reduce -3.0%
AMAT Applied Materials Inc. 0.21% 44,307 $7.2M Reduce -3.3%
C Citigroup Inc. 0.21% 101,646 $7.2M Reduce -3.7%
SPEM State Street SP PTF Em ETF 0.21% 185,560 $7.1M New
BA The Boeing Co. 0.21% 40,086 $7.1M Add +24.1%
BSX Boston Scientific Corp. 0.21% 79,211 $7.1M Reduce -2.8%
ETN Eaton Corp. PLC 0.21% 21,241 $7.0M Reduce -3.5%
COP Conocophillips 0.20% 69,522 $6.9M Add +8.3%
UBER Uber Technologies Inc. 0.20% 113,172 $6.8M Reduce -2.6%
BX Blackstone Inc. 0.19% 38,804 $6.7M Reduce -2.4%
IAGG iShares Intl Aggregate Bond 0.19% 133,326 $6.7M Add +1.0%
SYK Stryker Corp. 0.19% 18,461 $6.6M Reduce -2.5%
DVYE iShares Emerging Markets Div 0.19% 250,000 $6.5M No change
ADP Automatic Data Processing 0.19% 21,931 $6.4M Reduce -2.8%
PANW Palo Alto Networks Inc. 0.19% 35,176 $6.4M Reduce -1.6%
FISV Fiserv Inc. 0.18% 30,576 $6.3M Reduce -4.0%
GILD Gilead Sciences Inc. 0.18% 66,981 $6.2M Reduce -2.7%
BMY Bristol-Myers Squibb Co. 0.18% 109,005 $6.2M Reduce -2.8%
ANET Arista Networks Inc. 0.18% 55,519 $6.1M Reduce -2.6%

Show all 926 holdings

Portfolio Sells Q3 2024 → Q4 2024
EFAV iShares MSCI Eafe Min Vol Fa Reduce -16.4% 1.72% −0.49
EEMV iShares MSCI Emg MKT Min Vol Reduce -30.2% 0.41% −0.22
BLK BlackRock Finance Inc. Sold out 0.00% −0.21
MSFT Microsoft Corp. Reduce -2.8% 4.90% −0.20
EWG iShares MSCI Germany ETF Reduce -39.3% 0.25% −0.19
LRCX Lam Research Corp. Sold out 0.00% −0.17
LLY Eli Lilly & Co. Reduce -2.9% 0.95% −0.16
HDV iShares Core High Dividend E Reduce -1.5% 2.76% −0.15
UNH Unitedhealth Group Inc. Reduce -3.1% 0.73% −0.13
USMV iShares MSCI USA Min Vol Fac Reduce -2.5% 2.74% −0.13
AMD Advanced Micro Devices Reduce -2.6% 0.31% −0.12
XOM Exxon Mobil Corp. Reduce -3.9% 0.74% −0.09
JNJ Johnson & Johnson Reduce -2.8% 0.54% −0.08
KO The Coca-Cola Co. Reduce -2.9% 0.38% −0.07
MRK Merck & Co. Inc. Reduce -3.0% 0.39% −0.07
TMO Thermo Fisher Scientific Inc. Reduce -2.6% 0.31% −0.07
ABBV Abbvie Inc. Reduce -2.8% 0.49% −0.07
REGN Regeneron Pharmaceuticals Reduce -4.2% 0.12% −0.06
ADBE Adobe Inc. Reduce -3.5% 0.31% −0.06
ELV Elevance Health Inc. Reduce -3.0% 0.13% −0.06
AMAT Applied Materials Inc. Reduce -3.3% 0.21% −0.06
AMGN Amgen Inc. Reduce -2.8% 0.22% −0.06
DHR Danaher Corp. Reduce -2.8% 0.23% −0.05
LIN Linde PLC Reduce -3.8% 0.31% −0.05
UBER Uber Technologies Inc. Reduce -2.6% 0.20% −0.05
NEE Nextera Energy Inc. Reduce -2.7% 0.23% −0.05
PEP Pepsico Inc. Reduce -2.9% 0.33% −0.05
BRK.B Berkshire Hathaway Inc. Class B Reduce -2.8% 1.30% −0.05
GE General Electric Reduce -3.0% 0.28% −0.04
AMT American Tower Corp. Reduce -2.8% 0.13% −0.04
VZ Verizon Communications Inc. Reduce -2.8% 0.26% −0.04
CVS CVS Health Corp. Reduce -2.8% 0.09% −0.04
LMT Lockheed Martin Corp. Reduce -3.4% 0.16% −0.04
MU Micron Technology Inc. Reduce -2.8% 0.15% −0.04
HD Home Depot Inc. Reduce -2.7% 0.60% −0.04
HCA HCA Healthcare Inc. Reduce -5.2% 0.09% −0.04
KLAC KLA Corp. Reduce -4.0% 0.13% −0.04
QCOM Qualcomm Inc. Reduce -3.1% 0.27% −0.04
CI The Cigna Group Reduce -3.3% 0.12% −0.03
CMCSA Comcast Corp. Class A Reduce -4.0% 0.22% −0.03
PLD Prologis Inc. Reduce -2.8% 0.15% −0.03
TXN Texas Instruments Inc. Reduce -2.9% 0.27% −0.03
SMCI Super Micro Computer Inc. Sold out 0.00% −0.03
PG The Procter & Gamble Co. Reduce -2.8% 0.62% −0.03
MDLZ Mondelez International Inc. Class A Reduce -2.7% 0.13% −0.03
NEM Newmont Corp. Reduce -3.6% 0.07% −0.03
VRTX Vertex Pharmaceuticals Inc. Reduce -3.0% 0.16% −0.03
FCX Freeport-McMoran Inc. Reduce -2.8% 0.09% −0.03
CAT Caterpillar Inc. Reduce -3.2% 0.27% −0.03
NKE Nike Inc. Class B Reduce -3.7% 0.14% −0.03

Portfolio Buys Q3 2024 → Q4 2024
SPY SS SPDR S&P 500 ETF Trust-US New 0.77% +0.77
IDEV iShares Core MSCI Dev MKTS New 0.34% +0.34
SPEM State Street SP PTF Em ETF New 0.21% +0.21
USHY iShares Broad Usd High Yield New 0.14% +0.14
V Visa Inc. Class A Add +0.5% 0.85% +0.12
APO Apollo Global Management Inc. New 0.12% +0.12
WDAY Workday Inc. Class A New 0.09% +0.09
TEL Te Connectivity PLC New 0.07% +0.07
BA The Boeing Co. Add +24.1% 0.21% +0.06
SW Smurfit Westrock PLC New 0.04% +0.04
DOCU Docusign Inc. New 0.04% +0.04
VOO Vanguard S&P 500 ETF Add +0.9% 0.94% +0.04
FLEX Flex Ltd. New 0.03% +0.03
EXE Expand Energy Corp. Add +83.2% 0.05% +0.03
RCL Royal Caribbean Cruises Ltd. Add +2.0% 0.09% +0.02
MLI Mueller Industries Inc. New 0.02% +0.02
CRS Carpenter Technology New 0.02% +0.02
CMA Comerica Inc. New 0.02% +0.02
BILL Bill Holdings Inc. New 0.02% +0.02
FOUR SHIFT4 Payments Inc. Class A New 0.02% +0.02
AJG Arthur J Gallagher & Co. Add +11.6% 0.11% +0.01
CHWY Chewy Inc. Class A New 0.01% +0.01
GME Gamestop Corp. Class A Add +1.9% 0.03% +0.01
FLG Flagstar Bank NA New 0.01% +0.01
COP Conocophillips Add +8.3% 0.20% +0.01
SPMD SS SPDR P S&P 400 Midcap ETF Add +132.7% 0.01% +0.01
NI Nisource Inc. Add +1.1% 0.03% +0.00
KEY Keycorp Add +3.8% 0.03% +0.00
ASB Associated Banc-Corp. Add +5.4% 0.01% +0.00
CBSH Commerce Bancshares Inc. Add +1.5% 0.02% +0.00
CUZ Cousins Properties Inc. Add +7.2% 0.01% +0.00
RBC RBC Bearings Inc. Add +4.5% 0.02% +0.00
VLY Valley National Bancorp Add +7.9% 0.01% +0.00
DELL Dell Technologies -C Add +3.2% 0.06% +0.00
NLY Annaly Capital Management Inc. Add +8.8% 0.02% 0.00
ORA Ormat Technologies Inc. Add +5.1% 0.01% −0.00
OHI Omega Healthcare Investors Add +1.8% 0.02% −0.00
ALLE Allegion PLC Add +0.2% 0.02% −0.00
WDC Western Digital Corp. Add +2.9% 0.03% −0.00
CLF Cleveland-Cliffs Inc. Add +0.6% 0.01% −0.00
IAGG iShares Intl Aggregate Bond Add +1.0% 0.19% −0.00
DVN Devon Energy Corp. Add +1.9% 0.03% −0.01
KDP Keurig Dr Pepper Inc. Add +3.6% 0.06% −0.01
USIG iShares Broad Usd Investment Add +1.0% 0.48% −0.01

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 926$2.8BVOO, IVV, NVDA, AAPL, HDV
Q1 2026 925$2.5BVOO, IVV, NVDA, AAPL, HDV
Q4 2025 927$2.6BIVV, VOO, NVDA, AAPL, MSFT
Q3 2025 928$3.8BNVDA, IVV, MSFT, AAPL, AMZN
Q2 2025 929$3.5BNVDA, MSFT, AAPL, AMZN, HDV
Q1 2025 929$3.3BAAPL, MSFT, NVDA, HDV, USMV
Q4 2024 926$3.4BAAPL, NVDA, MSFT, AMZN, HDV
Q3 2024 922$3.5BAAPL, MSFT, NVDA, HDV, USMV
Q2 2024 927$3.4BMSFT, NVDA, AAPL, AMZN, USMV
Q1 2024 925$3.4BMSFT, AAPL, NVDA, USMV, HDV