Securian Asset Management, Inc.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 4, 2026), Securian Asset Management, Inc. reported 927 stock positions worth $2.6 billion. Its top holding was iShares Core S&P 500 ETF (IVV) at 6.1% of the portfolio, followed by Vanguard S&P 500 ETF (VOO, 5.7%) and Nvidia (NVDA, 4.7%). Compared with Q3 2025, it opened 16 new positions, sold out of 17, added to 20 and reduced 864. The biggest buy was Vanguard S&P 500 ETF (VOO, shares +305%) and the biggest sale Microsoft (MSFT, shares −45%).

Most Recent 13F
Q2 2026
Location
ST PAUL, MN
CIK
0001035350
Portfolio Value
$2.6B (Q4 2025)
SEC Filing
0001104659-26-010014 ↗ filed Feb 4, 2026

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 Q4 2024 Q1 2025: $3.3B Q1 2025 Q2 2025: $3.5B Q2 2025 Q3 2025: $3.8B Q3 2025 Q4 2025: $2.6B $2.6B Q4 2025 Q1 2026: $2.5B Q1 2026 Q2 2026: $2.8B Q2 2026

Holdings 927 stocks · $2.6B
IVV iShares Core S&P 500 ETF 6.09% 234,670 $160.7M Reduce -29.9%
VOO Vanguard S&P 500 ETF 5.74% 241,230 $151.3M Add +304.7%
NVDA Nvidia Corp. 4.67% 660,764 $123.2M Reduce -45.4%
AAPL Apple Inc. 4.14% 401,798 $109.2M Reduce -44.3%
MSFT Microsoft Corp. 3.71% 202,101 $97.7M Reduce -44.9%
HDV iShares Core High Dividend E 3.48% 754,802 $91.8M Reduce -3.1%
USMV iShares MSCI USA Min Vol Fac 3.11% 870,287 $81.9M Reduce -4.1%
EFAV iShares MSCI Eafe Min Vol Fa 2.62% 799,769 $69.0M Reduce -1.9%
AMZN Amazon.com Inc. 2.32% 264,526 $61.1M Reduce -45.1%
GOOGL Alphabet Inc. Class A 1.88% 158,203 $49.5M Reduce -43.9%
SPLV Invesco S&P 500 Low Volatili 1.87% 690,000 $49.3M No change
AVGO Broadcom Inc. 1.69% 128,410 $44.4M Reduce -43.5%
SCHD Schwab US DVD Equity ETF 1.64% 1,581,000 $43.4M No change
GOOG Alphabet Inc. Class C 1.50% 126,443 $39.7M Reduce -43.9%
META Meta Platforms Inc. Class A 1.48% 59,221 $39.1M Reduce -43.5%
TSLA Tesla Inc. 1.30% 76,408 $34.4M Reduce -43.6%
BRK.B Berkshire Hathaway Inc. Class B 0.95% 49,863 $25.1M Reduce -43.7%
JPM JPMorgan Chase & Co. 0.90% 74,024 $23.9M Reduce -44.3%
SPY SS SPDR S&P 500 ETF Trust-US 0.89% 34,500 $23.5M Reduce -15.3%
LLY Eli Lilly & Co. 0.88% 21,594 $23.2M Reduce -43.8%
USIG iShares Broad Usd Investment 0.86% 439,717 $22.8M Add +22.1%
IDV iShares International Select 0.75% 500,000 $19.7M No change
IDEV iShares Core MSCI Dev MKTS 0.74% 236,229 $19.5M Add +14.9%
EEMV iShares MSCI Emg MKT Min Vol 0.61% 253,206 $16.2M No change
V Visa Inc. Class A 0.61% 45,890 $16.1M Reduce -44.1%
NEAR iShares SH Dba ETF Usd Inc. 0.55% 283,620 $14.5M Reduce -11.0%
XOM Exxon Mobil Corp. 0.52% 114,673 $13.8M Reduce -44.3%
JNJ Johnson & Johnson 0.51% 65,513 $13.6M Reduce -43.7%
WMT Walmart Inc. 0.50% 119,238 $13.3M Reduce -43.8%
MA Mastercard Inc. Class A 0.48% 22,296 $12.7M Reduce -44.1%
EWG iShares MSCI Germany ETF 0.48% 296,791 $12.6M No change
PLTR Palantir Technologies Inc. Class A 0.42% 62,115 $11.0M Reduce -43.5%
ABBV Abbvie Inc. 0.42% 48,058 $11.0M Reduce -43.7%
NFLX Netflix Inc. 0.41% 115,221 $10.8M Reduce -43.9%
COST Costco Wholesale Corp. 0.39% 12,051 $10.4M Reduce -43.7%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.38% 182,683 $10.0M Reduce -44.5%
AMD Advanced Micro Devices 0.36% 44,269 $9.5M Reduce -43.5%
HD Home Depot Inc. 0.35% 27,066 $9.3M Reduce -43.7%
PG The Procter & Gamble Co. 0.35% 63,540 $9.1M Reduce -43.8%
ORCL Oracle Corp. 0.34% 45,736 $8.9M Reduce -42.9%
GE General Electric filed as GE AEROSPACE 0.34% 28,682 $8.8M Reduce -44.0%
MU Micron Technology Inc. 0.33% 30,522 $8.7M Reduce -43.5%
IAGG iShares Intl Aggregate Bond 0.32% 166,626 $8.3M Add +14.7%
SPEM State Street SP PTF Em ETF 0.31% 177,360 $8.3M Add +11.3%
CSCO Cisco Systems Inc. 0.31% 107,156 $8.3M Reduce -44.0%
UNH Unitedhealth Group Inc. 0.31% 24,631 $8.1M Reduce -43.7%
WFC Wells Fargo & Co. 0.30% 85,357 $8.0M Reduce -44.8%
CVX Chevron Corp. 0.30% 51,466 $7.8M Reduce -44.6%
DVYE iShares Emerging Markets Div 0.30% 250,000 $7.8M No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.29% 25,417 $7.5M Reduce -43.5%
KO The Coca-Cola Co. 0.28% 105,272 $7.4M Reduce -43.7%
CAT Caterpillar Inc. 0.28% 12,725 $7.3M Reduce -43.8%
GS Goldman Sachs Group Inc. 0.27% 8,156 $7.2M Reduce -44.1%
MRK Merck & Co. Inc. 0.27% 67,491 $7.1M Reduce -44.0%
CRM Salesforce Inc. 0.26% 25,887 $6.9M Reduce -43.9%
PM Philip Morris International 0.26% 42,328 $6.8M Reduce -43.7%
RTX RTX Corp. 0.25% 36,458 $6.7M Reduce -43.6%
ABT Abbott Laboratories 0.22% 47,283 $5.9M Reduce -43.8%
TMO Thermo Fisher Scientific Inc. 0.22% 10,216 $5.9M Reduce -43.9%
MCD McDonald's Corp. 0.22% 19,365 $5.9M Reduce -43.8%
LRCX Lam Research Corp. 0.22% 34,153 $5.8M Reduce -44.1%
MS Morgan Stanley 0.22% 32,844 $5.8M Reduce -43.9%
C Citigroup Inc. 0.22% 48,654 $5.7M Reduce -45.3%
AMAT Applied Materials Inc. 0.21% 21,662 $5.6M Reduce -44.1%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.21% 48,545 $5.5M Reduce -44.1%
ISRG Intuitive Surgical Inc. 0.21% 9,640 $5.5M Reduce -48.2%
LIN Linde PLC 0.21% 12,697 $5.4M Reduce -43.9%
AXP American Express Co. 0.20% 14,610 $5.4M Reduce -44.3%
PEP Pepsico Inc. 0.20% 37,180 $5.3M Reduce -43.8%
INTU Intuit Inc. 0.19% 7,581 $5.0M Reduce -46.4%
QCOM Qualcomm Inc. 0.19% 29,122 $5.0M Reduce -44.1%
APP AppLovin Corp. Class A 0.19% 7,361 $5.0M Reduce -44.0%
GEV GE Vernova Inc. 0.18% 7,378 $4.8M Reduce -44.2%
AMGN Amgen Inc. 0.18% 14,642 $4.8M Reduce -43.7%
T AT&T Inc. 0.18% 192,776 $4.8M Reduce -44.2%
USHY iShares Broad Usd High Yield 0.18% 126,886 $4.7M No change
BKNG Booking Holdings Inc. 0.18% 877 $4.7M Reduce -48.4%
VZ Verizon Communications Inc. 0.18% 114,652 $4.7M Reduce -43.7%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.18% 30,263 $4.6M Reduce -43.8%
BA The Boeing Co. 0.18% 21,292 $4.6M Reduce -41.7%
UBER Uber Technologies Inc. 0.18% 56,500 $4.6M Reduce -43.9%
NEE Nextera Energy Inc. 0.17% 56,630 $4.5M Reduce -43.1%
SCHW Schwab (charles) Corp. 0.17% 45,419 $4.5M Reduce -44.9%
ACN Accenture PLC Class A 0.17% 16,863 $4.5M Reduce -43.9%
INTC Intel Corp. 0.17% 121,923 $4.5M Reduce -42.3%
APH Amphenol Corp. Class A 0.17% 33,284 $4.5M Reduce -43.5%
SPGI S&P Global Inc. 0.17% 8,430 $4.4M Reduce -48.5%
KLAC KLA Corp. 0.16% 3,573 $4.3M Reduce -44.2%
NOW ServiceNow Inc. 0.16% 28,209 $4.3M Reduce -44.2%
TXN Texas Instruments Inc. 0.16% 24,707 $4.3M Reduce -43.7%
BLK BlackRock Inc. 0.16% 3,924 $4.2M Reduce -43.9%
COF Capital One Financial Corp. 0.16% 17,287 $4.2M Reduce -44.0%
GILD Gilead Sciences Inc. 0.16% 33,736 $4.1M Reduce -43.7%
ADBE Adobe Inc. 0.15% 11,383 $4.0M Reduce -44.4%
DHR Danaher Corp. 0.15% 17,094 $3.9M Reduce -46.7%
PFE Pfizer Inc. 0.15% 154,605 $3.8M Reduce -43.7%
BSX Boston Scientific Corp. 0.15% 40,310 $3.8M Reduce -43.7%
UNP Union Pacific Corp. 0.14% 16,129 $3.7M Reduce -43.7%
ANET Arista Networks Inc. 0.14% 28,078 $3.7M Reduce -43.6%
LOW Lowe's Cos Inc. 0.14% 15,250 $3.7M Reduce -43.6%

Show all 927 holdings

Lines left out (1) · $9 — a value with no share or principal amount
SecurityClassSharesValue
FG F&G Annuities & Life Inc. COMMON STOCK0$9

Filed with a value but no share or principal amount (a cash line, a holding rounded to 0 shares), so they are kept out of the holdings, totals and percentages.

Total filed on the 13F, all lines: $2.6B.

Portfolio Sells Q3 2025 → Q4 2025
MSFT Microsoft Corp. Reduce -44.9% 3.71% −1.33
NVDA Nvidia Corp. Reduce -45.4% 4.67% −1.30
AAPL Apple Inc. Reduce -44.3% 4.14% −0.72
META Meta Platforms Inc. Class A Reduce -43.5% 1.48% −0.56
AMZN Amazon.com Inc. Reduce -45.1% 2.32% −0.49
AVGO Broadcom Inc. Reduce -43.5% 1.69% −0.30
TSLA Tesla Inc. Reduce -43.6% 1.30% −0.29
ORCL Oracle Corp. Reduce -42.9% 0.34% −0.26
NFLX Netflix Inc. Reduce -43.9% 0.41% −0.24
BRK.B Berkshire Hathaway Inc. Class B Reduce -43.7% 0.95% −0.23
JPM JPMorgan Chase & Co. Reduce -44.3% 0.90% −0.20
HD Home Depot Inc. Reduce -43.7% 0.35% −0.16
V Visa Inc. Class A Reduce -44.1% 0.61% −0.13
COST Costco Wholesale Corp. Reduce -43.7% 0.39% −0.13
MA Mastercard Inc. Class A Reduce -44.1% 0.48% −0.12
PG The Procter & Gamble Co. Reduce -43.8% 0.35% −0.12
PLTR Palantir Technologies Inc. Class A Reduce -43.5% 0.42% −0.11
ABBV Abbvie Inc. Reduce -43.7% 0.42% −0.11
ANGL Vaneck Fallen Angel High YLD Sold out 0.00% −0.10
UNH Unitedhealth Group Inc. Reduce -43.7% 0.31% −0.09
XOM Exxon Mobil Corp. Reduce -44.3% 0.52% −0.09
UBER Uber Technologies Inc. Reduce -43.9% 0.18% −0.09
CVX Chevron Corp. Reduce -44.6% 0.30% −0.08
NOW ServiceNow Inc. Reduce -44.2% 0.16% −0.08
LIN Linde PLC Reduce -43.9% 0.21% −0.08
T AT&T Inc. Reduce -44.2% 0.18% −0.08
WMT Walmart Inc. Reduce -43.8% 0.50% −0.07
ABT Abbott Laboratories Reduce -43.8% 0.22% −0.07
GE General Electric Reduce -44.0% 0.34% −0.07
BAC Bank of America Corp. Reduce -44.5% 0.38% −0.07
PM Philip Morris International Reduce -43.7% 0.26% −0.07
INTU Intuit Inc. Reduce -46.4% 0.19% −0.07
BKNG Booking Holdings Inc. Reduce -48.4% 0.18% −0.06
APP AppLovin Corp. Class A Reduce -44.0% 0.19% −0.06
VZ Verizon Communications Inc. Reduce -43.7% 0.18% −0.06
ETN Eaton Corp. PLC Reduce -43.8% 0.13% −0.06
JNJ Johnson & Johnson Reduce -43.7% 0.51% −0.06
BLK BlackRock Inc. Reduce -43.9% 0.16% −0.06
DIS The Walt Disney Co. Reduce -44.1% 0.21% −0.05
MCD McDonald's Corp. Reduce -43.8% 0.22% −0.05
ANET Arista Networks Inc. Reduce -43.6% 0.14% −0.05
FISV Fiserv Inc. Reduce -44.3% 0.04% −0.05
TXN Texas Instruments Inc. Reduce -43.7% 0.16% −0.05
IBM Intl Business Machines Corp. Reduce -43.5% 0.29% −0.05
HOOD Robinhood Markets Inc. Class A Reduce -42.8% 0.09% −0.05
KO The Coca-Cola Co. Reduce -43.7% 0.28% −0.05
PGR Progressive Corp. Reduce -43.7% 0.14% −0.05
TMUS T-Mobile US Inc. Reduce -44.0% 0.10% −0.05
ADP Automatic Data Processing Reduce -43.8% 0.11% −0.04
COIN Coinbase Global Inc. Class A Reduce -43.5% 0.05% −0.04

Portfolio Buys Q3 2025 → Q4 2025
VOO Vanguard S&P 500 ETF Add +304.7% 5.74% +4.77
USIG iShares Broad Usd Investment Add +22.1% 0.86% +0.37
IDEV iShares Core MSCI Dev MKTS Add +14.9% 0.74% +0.30
IAGG iShares Intl Aggregate Bond Add +14.7% 0.32% +0.12
SPEM State Street SP PTF Em ETF Add +11.3% 0.31% +0.12
CRH CRH PLC New 0.09% +0.09
CVNA Carvana Co. New 0.06% +0.06
SPSM SS SPDR P S&P 600 Small Cap Add +36.5% 0.10% +0.05
IJH iShares Core S&P Midcap ETF Add +11.9% 0.12% +0.05
PINS Pinterest Inc. Class A New 0.04% +0.04
HL Hecla Mining Co. New 0.04% +0.04
ARES Ares Management Corp. Class A New 0.03% +0.03
SNDK Sandisk Corp. New 0.03% +0.03
BAH Booz Allen Hamilton Holdings New 0.03% +0.03
SPXC SPX Technologies Inc. New 0.03% +0.03
DY Dycom Industries Inc. New 0.03% +0.03
BWA Borgwarner Inc. New 0.03% +0.03
STRL Sterling Infrastructure Inc. New 0.03% +0.03
RGLD Royal Gold Inc. Add +20.6% 0.05% +0.02
CRBG Corebridge Financial Inc. New 0.02% +0.02
PATH Uipath Inc. Class A New 0.02% +0.02
USRT iShares Core US REIT ETF Add +14.9% 0.05% +0.02
NLY Annaly Capital Management Inc. Add +3.5% 0.04% +0.02
ULS Ul Solutions Inc. Class A New 0.02% +0.02
BSY Bentley Systems Inc. Class B New 0.02% +0.02
ITT Itt Inc. Add +6.1% 0.04% +0.01
CLF Cleveland-Cliffs Inc. Add +12.2% 0.02% +0.01
ADC Agree Realty Corp. Add +1.1% 0.02% +0.01
BKH Black Hills Corp. Add +1.4% 0.01% +0.01
TXNM TXNM Energy Inc. Add +1.1% 0.02% +0.01
SHC Sotera Health Co. Add +15.0% 0.01% +0.00
PSKY Paramount Skydance Class B New 0.00% +0.00
GBCI Glacier Bancorp Inc. Add +5.5% 0.02% +0.00
SBRA Sabra Health Care REIT Inc. Add +1.2% 0.01% +0.00
CBSH Commerce Bancshares Inc. Add +1.6% 0.02% +0.00
RYN Rayonier Inc. Add +2.0% 0.01% +0.00

Notes & Other Activity Q3 2025 → Q4 2025
FG F&G Annuities & Life Inc. COMMON STOCK New 0 $9

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

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