South Dakota Investment Council
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 11, 2026), South Dakota Investment Council reported 620 stock positions worth $5.8 billion. Its top holding was Vanguard Ftse Emerging Marke (VWO) at 10.6% of the portfolio, followed by iShares Core U.S. Aggregate (AGG, 5.9%) and Nvidia (NVDA, 4.6%). Compared with Q1 2026, it opened 29 new positions, sold out of 32, added to 158 and reduced 308. The biggest buy was Vanguard S/T Corp. Bond ETF (VCSH, shares +32%) and the biggest sale Bristow (VTOL, shares −18%).
- Most Recent 13F
- Q2 2026
- Location
- SIOUX FALLS, SD
- CIK
- 0001538846
- Portfolio Value
- $5.8B (Q2 2026)
- SEC Filing
- 0001538846-26-000004 ↗ filed Aug 11, 2026
Holdings Value
Holdings 620 stocks · $5.8B
| VWO Vanguard Ftse Emerging Marke | 10.57% | 10,336,538 | $617.0M | Reduce -2.9% |
| AGG iShares Core U.S. Aggregate | 5.86% | 3,453,435 | $341.8M | Add +5.5% |
| NVDA Nvidia Corp. | 4.59% | 1,338,670 | $267.9M | Add +8.5% |
| AAPL Apple Inc. | 3.69% | 744,947 | $215.6M | Reduce -0.6% |
| VCSH Vanguard S/T Corp. Bond ETF | 3.19% | 2,355,122 | $186.1M | Add +31.9% |
| MSFT Microsoft Corp. | 2.93% | 458,784 | $171.1M | Reduce -0.5% |
| AMZN Amazon.com Inc. | 2.31% | 564,563 | $134.6M | Reduce -2.5% |
| GOOGL Alphabet Inc. Class A | 1.86% | 304,600 | $108.9M | Reduce -6.1% |
| GOOG Alphabet Inc. Class C | 1.59% | 262,529 | $92.8M | Reduce -2.3% |
| USHY iShares Broad Usd High Yield | 1.27% | 2,006,500 | $74.3M | Add +2.2% |
| META Meta Platforms Inc. Class A | 1.17% | 121,131 | $68.2M | Add +3.9% |
| VTOL Bristow Group Inc. | 1.14% | 1,603,618 | $66.3M | Reduce -18.4% |
| AVGO Broadcom Inc. | 1.05% | 162,684 | $61.5M | Add +23.2% |
| AMD Advanced Micro Devices | 0.96% | 95,975 | $55.8M | Reduce -3.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.93% | 107,973 | $54.0M | Reduce -2.2% |
| AMAT Applied Materials Inc. | 0.86% | 69,528 | $50.3M | Reduce -14.2% |
| LLY Eli Lilly & Co. | 0.85% | 41,297 | $49.5M | Reduce -8.6% |
| BBWI Bath & Body Works Inc. | 0.75% | 1,893,888 | $43.8M | Add +7.8% |
| ZTS Zoetis Inc. | 0.73% | 590,102 | $42.4M | Add +167.2% |
| USB US Bancorp | 0.73% | 701,020 | $42.3M | Reduce -3.2% |
| UNH Unitedhealth Group Inc. | 0.67% | 93,988 | $39.1M | Reduce -45.8% |
| ELV Elevance Health Inc. | 0.67% | 100,835 | $39.0M | Reduce -16.8% |
| EG Everest Group Ltd. | 0.63% | 102,992 | $36.8M | Add +1.0% |
| MU Micron Technology Inc. | 0.62% | 31,275 | $36.1M | Reduce -17.7% |
| TXN Texas Instruments Inc. | 0.59% | 115,087 | $34.3M | Reduce -14.2% |
| COP Conocophillips | 0.58% | 327,723 | $34.1M | Add +7.9% |
| V Visa Inc. Class A | 0.56% | 95,912 | $32.9M | Reduce -1.5% |
| LRCX Lam Research Corp. | 0.55% | 74,624 | $32.3M | Reduce -0.5% |
| HUM Humana Inc. | 0.54% | 78,896 | $31.3M | Reduce -65.6% |
| CDW CDW Corp. | 0.53% | 218,632 | $30.7M | Add +163.9% |
| UPS United Parcel Service Class B | 0.52% | 280,661 | $30.2M | Add +3.5% |
| INTC Intel Corp. | 0.52% | 215,629 | $30.1M | Reduce -16.8% |
| MOH Molina Healthcare Inc. | 0.51% | 130,276 | $29.8M | Reduce -22.6% |
| PFE Pfizer Inc. | 0.48% | 1,166,118 | $28.1M | Reduce -3.0% |
| CMCSA Comcast Corp. Class A | 0.46% | 1,097,490 | $26.9M | Add +13.2% |
| RGA Reinsurance Group of America | 0.46% | 126,629 | $26.9M | Add +6.9% |
| WFC Wells Fargo & Co. | 0.45% | 315,522 | $26.1M | Add +23.3% |
| IQV Iqvia Holdings Inc. | 0.45% | 134,669 | $26.0M | Add +10.3% |
| MA Mastercard Inc. Class A | 0.44% | 50,246 | $25.8M | Reduce -0.6% |
| CHTR Charter Communications Inc. Class A | 0.44% | 180,839 | $25.7M | Add +127.7% |
| EOG EOG Resources Inc. | 0.42% | 191,076 | $24.8M | Reduce -1.8% |
| ALK Alaska Air Group Inc. | 0.41% | 463,482 | $24.2M | Add +3.4% |
| RNR Renaissancere Holdings Ltd. | 0.38% | 70,505 | $22.3M | Add +50.5% |
| OXY Occidental Petroleum Corp. | 0.38% | 455,056 | $22.1M | Add +15.8% |
| ACGL Arch Capital Group Ltd. | 0.38% | 225,526 | $21.9M | Reduce -0.6% |
| DHR Danaher Corp. | 0.37% | 114,619 | $21.8M | Add +34.1% |
| MRK Merck & Co. Inc. | 0.37% | 166,665 | $21.4M | Reduce -7.4% |
| SLB SLB Ltd. filed as SLB LIMITED | 0.36% | 446,879 | $20.8M | Reduce -9.9% |
| STZ Constellation Brands Inc. Class A | 0.35% | 146,098 | $20.3M | Reduce -1.0% |
| XOM Exxonmobil Holdings Corp. | 0.34% | 145,930 | $20.0M | Reduce -4.3% |
| ZBH Zimmer Biomet Holdings Inc. | 0.34% | 227,685 | $19.6M | Add +21.4% |
| MDT Medtronic PLC | 0.33% | 249,346 | $19.5M | Add +90.8% |
| TMO Thermo Fisher Scientific Inc. | 0.33% | 38,598 | $19.4M | Add +1.8% |
| TSLA Tesla Inc. | 0.33% | 45,376 | $19.1M | Reduce -1.4% |
| APA Apa Corp. | 0.32% | 577,758 | $18.8M | Reduce -3.2% |
| LOW Lowe's Cos Inc. | 0.32% | 84,606 | $18.7M | Add +50.5% |
| GNRC Generac Holdings Inc. | 0.31% | 62,390 | $18.3M | Reduce -9.8% |
| C Citigroup Inc. | 0.31% | 129,610 | $18.1M | Reduce -15.4% |
| JPM JPMorgan Chase & Co. | 0.31% | 54,648 | $17.9M | Reduce -1.3% |
| FANG Diamondback Energy Inc. | 0.30% | 101,106 | $17.8M | Reduce -1.0% |
| HAL Halliburton Co. | 0.30% | 523,434 | $17.8M | Reduce -4.6% |
| JNJ Johnson & Johnson | 0.30% | 67,922 | $17.3M | Reduce -10.2% |
| GEHC GE Healthcare Technology | 0.29% | 260,303 | $16.7M | Add +80.5% |
| DE Deere & Co. | 0.28% | 25,976 | $16.5M | Reduce -0.5% |
| NLY Annaly Capital Management Inc. | 0.28% | 730,038 | $16.3M | Add +104.5% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.28% | 168,057 | $16.2M | Reduce -0.2% |
| FISV Fiserv Inc. | 0.27% | 325,742 | $16.0M | Add +51.8% |
| DUK Duke Energy Corp. | 0.27% | 124,207 | $15.7M | No change |
| HPQ HP Inc. | 0.27% | 715,294 | $15.7M | No change |
| SOLV Solventum Corp. | 0.27% | 203,403 | $15.7M | Reduce -0.1% |
| SW Smurfit Westrock PLC | 0.27% | 336,694 | $15.6M | Add +4.7% |
| EQH Equitable Holdings Inc. | 0.27% | 352,587 | $15.5M | Reduce -6.6% |
| VT Vanguard Tot World STK ETF | 0.26% | 97,932 | $15.4M | New |
| LKQ LKQ Corp. | 0.26% | 583,306 | $15.4M | Reduce -0.1% |
| TGT Target Corp. | 0.26% | 115,141 | $15.0M | Reduce -47.9% |
| ARW Arrow Electronics Inc. | 0.26% | 70,201 | $15.0M | Reduce -23.1% |
| LBRT Liberty Energy Inc. | 0.26% | 569,982 | $14.9M | Reduce -23.7% |
| CNC Centene Corp. | 0.25% | 230,390 | $14.8M | Reduce -59.2% |
| WCC Wesco International Inc. | 0.25% | 42,163 | $14.6M | Reduce -1.5% |
| PVH PVH Corp. | 0.25% | 194,751 | $14.5M | Reduce -24.7% |
| UBER Uber Technologies Inc. | 0.24% | 197,942 | $14.3M | Add +444.2% |
| MTDR Matador Resources Co. | 0.24% | 285,302 | $14.2M | Reduce -3.0% |
| NOW ServiceNow Inc. | 0.24% | 140,464 | $13.9M | Add +84.4% |
| TFC Truist Financial Corp. | 0.24% | 279,182 | $13.9M | Reduce -0.3% |
| LYB Lyondellbasell Indu Class A | 0.24% | 263,937 | $13.9M | Reduce -10.1% |
| PYPL PayPal Holdings Inc. | 0.24% | 320,157 | $13.8M | Reduce -2.0% |
| PG The Procter & Gamble Co. | 0.24% | 94,240 | $13.8M | Add +0.7% |
| RTX RTX Corp. | 0.23% | 69,564 | $13.2M | Reduce -0.7% |
| MCHP Microchip Technology Inc. | 0.22% | 142,939 | $13.0M | Reduce -19.2% |
| CHRD Chord Energy Corp. | 0.22% | 113,859 | $13.0M | Reduce -14.3% |
| UNP Union Pacific Corp. | 0.22% | 47,781 | $13.0M | Reduce -0.2% |
| QCOM Qualcomm Inc. | 0.22% | 70,242 | $13.0M | Reduce -0.3% |
| VZ Verizon Communications Inc. | 0.22% | 304,850 | $12.9M | Reduce -0.1% |
| GPN Global Payments Inc. | 0.22% | 176,718 | $12.8M | Reduce -0.3% |
| CVX Chevron Corp. | 0.22% | 76,460 | $12.7M | Reduce -3.4% |
| ADBE Adobe Inc. | 0.22% | 61,383 | $12.6M | Add +22.9% |
| CLX Clorox Company | 0.21% | 131,384 | $12.5M | Add +45.4% |
| INTU Intuit Inc. | 0.21% | 47,599 | $12.4M | Add +165.8% |
| ACN Accenture PLC Class A | 0.21% | 99,133 | $12.3M | Add +40.7% |
| CVS CVS Health Corp. | 0.21% | 118,914 | $12.3M | Reduce -37.1% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $1K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| GME.WS Gamestop Corp. | *W EXP 10/30/202 | 479 | $1K | Reduce -93.8% |
Total filed on the 13F, all lines: $5.8B.
Portfolio Sells Q1 2026 → Q2 2026
| VTOL Bristow Group Inc. | Reduce -18.4% | 1.14% | −0.62 |
| VWO Vanguard Ftse Emerging Marke | Reduce -2.9% | 10.57% | −0.40 |
| MSFT Microsoft Corp. | Reduce -0.5% | 2.93% | −0.32 |
| TGT Target Corp. | Reduce -47.9% | 0.26% | −0.25 |
| UNH Unitedhealth Group Inc. | Reduce -45.8% | 0.67% | −0.23 |
| HUM Humana Inc. | Reduce -65.6% | 0.54% | −0.22 |
| LYB Lyondellbasell Indu Class A | Reduce -10.1% | 0.24% | −0.21 |
| PFE Pfizer Inc. | Reduce -3.0% | 0.48% | −0.16 |
| APA Apa Corp. | Reduce -3.2% | 0.32% | −0.16 |
| LBRT Liberty Energy Inc. | Reduce -23.7% | 0.26% | −0.15 |
| XOM Exxonmobil Holdings Corp. | Reduce -4.3% | 0.34% | −0.15 |
| CHRD Chord Energy Corp. | Reduce -14.3% | 0.22% | −0.14 |
| CSX CSX Corp. | Reduce -49.0% | 0.15% | −0.13 |
| FIX Comfort Systems USA Inc. | Reduce -79.6% | 0.05% | −0.13 |
| SLB SLB Ltd. | Reduce -9.9% | 0.36% | −0.13 |
| EME Emcor Group Inc. | Reduce -70.5% | 0.05% | −0.11 |
| EOG EOG Resources Inc. | Reduce -1.8% | 0.42% | −0.11 |
| MTDR Matador Resources Co. | Reduce -3.0% | 0.24% | −0.11 |
| HAL Halliburton Co. | Reduce -4.6% | 0.30% | −0.10 |
| VSAT Viasat Inc. | Reduce -62.8% | 0.19% | −0.10 |
| CNC Centene Corp. | Reduce -59.2% | 0.25% | −0.10 |
| DAL Delta Air Lines Inc. | Reduce -71.9% | 0.05% | −0.10 |
| PVH PVH Corp. | Reduce -24.7% | 0.25% | −0.10 |
| COHR Coherent Corp. | Sold out | 0.00% | −0.10 |
| CVX Chevron Corp. | Reduce -3.4% | 0.22% | −0.10 |
| CASY Casey's General Stores Inc. | Sold out | 0.00% | −0.09 |
| GVA Granite Construction Inc. | Sold out | 0.00% | −0.09 |
| MTG Mgic Investment Corp. | Reduce -48.0% | 0.08% | −0.08 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -2.2% | 0.93% | −0.08 |
| FANG Diamondback Energy Inc. | Reduce -1.0% | 0.30% | −0.08 |
| VTRS Viatris Inc. | Reduce -88.3% | 0.01% | −0.08 |
| KO The Coca-Cola Co. | Reduce -52.6% | 0.06% | −0.08 |
| FDX FedEx Corp. | Reduce -18.7% | 0.14% | −0.08 |
| STZ Constellation Brands Inc. Class A | Reduce -1.0% | 0.35% | −0.07 |
| VZ Verizon Communications Inc. | Reduce -0.1% | 0.22% | −0.07 |
| AN Autonation Inc. | Reduce -32.4% | 0.09% | −0.06 |
| LKQ LKQ Corp. | Reduce -0.1% | 0.26% | −0.06 |
| MTCH Match Group Inc. | Sold out | 0.00% | −0.06 |
| MASI Masimo Corp. | Sold out | 0.00% | −0.06 |
| GPI Group 1 Automotive Inc. | Reduce -20.1% | 0.10% | −0.06 |
| JNJ Johnson & Johnson | Reduce -10.2% | 0.30% | −0.06 |
| TDW Tidewater Inc. | Reduce -8.5% | 0.10% | −0.05 |
| EMN Eastman Chemical Co. | Reduce -0.5% | 0.19% | −0.05 |
| PEP Pepsico Inc. | Reduce -3.0% | 0.17% | −0.05 |
| LUV Southwest Airlines Co. | Reduce -72.4% | 0.03% | −0.05 |
| ORCL Oracle Corp. | Reduce -15.1% | 0.16% | −0.05 |
| DAR Darling Ingredients Inc. | Reduce -36.1% | 0.05% | −0.05 |
| PLMR Palomar Holdings Inc. | Sold out | 0.00% | −0.05 |
| CVS CVS Health Corp. | Reduce -37.1% | 0.21% | −0.05 |
| CUBI Customers Bancorp Inc. | Reduce -34.7% | 0.10% | −0.05 |
Portfolio Buys Q1 2026 → Q2 2026
| VCSH Vanguard S/T Corp. Bond ETF | Add +31.9% | 3.19% | +0.49 |
| NVDA Nvidia Corp. | Add +8.5% | 4.59% | +0.49 |
| CDW CDW Corp. | Add +163.9% | 0.53% | +0.34 |
| AVGO Broadcom Inc. | Add +23.2% | 1.05% | +0.27 |
| VT Vanguard Tot World STK ETF | New | 0.26% | +0.26 |
| ZTS Zoetis Inc. | Add +167.2% | 0.73% | +0.23 |
| BSX Boston Scientific Corp. | New | 0.20% | +0.20 |
| UBER Uber Technologies Inc. | Add +444.2% | 0.24% | +0.19 |
| ENTG Entegris Inc. | New | 0.18% | +0.18 |
| HRB H&R Block Inc. | Add +226.2% | 0.21% | +0.15 |
| BLDR Builders Firstsource Inc. | Add +291.2% | 0.20% | +0.15 |
| NLY Annaly Capital Management Inc. | Add +104.5% | 0.28% | +0.14 |
| AEIS Advanced Energy Industries | New | 0.13% | +0.13 |
| MKSI MKS Inc. | Add +151.0% | 0.17% | +0.13 |
| BBWI Bath & Body Works Inc. | Add +7.8% | 0.75% | +0.13 |
| HD Home Depot Inc. | Add +294.0% | 0.17% | +0.13 |
| MDT Medtronic PLC | Add +90.8% | 0.33% | +0.12 |
| RNR Renaissancere Holdings Ltd. | Add +50.5% | 0.38% | +0.12 |
| CHTR Charter Communications Inc. Class A | Add +127.7% | 0.44% | +0.11 |
| PAYX Paychex Inc. | Add +384.8% | 0.13% | +0.11 |
| KDP Keurig Dr Pepper Inc. | Add +278.2% | 0.13% | +0.10 |
| ALK Alaska Air Group Inc. | Add +3.4% | 0.41% | +0.10 |
| EFX Equifax Inc. | Add +476.0% | 0.13% | +0.10 |
| GEHC GE Healthcare Technology | Add +80.5% | 0.29% | +0.09 |
| NOW ServiceNow Inc. | Add +84.4% | 0.24% | +0.09 |
| TEL Te Connectivity PLC | Add +171.6% | 0.15% | +0.09 |
| RRX Regal Rexnord Corp. | Add +93.2% | 0.15% | +0.08 |
| WWD Woodward Inc. | Add +511.5% | 0.09% | +0.08 |
| LOW Lowe's Cos Inc. | Add +50.5% | 0.32% | +0.07 |
| INTU Intuit Inc. | Add +165.8% | 0.21% | +0.07 |
| DHR Danaher Corp. | Add +34.1% | 0.37% | +0.07 |
| GXO Gxo Logistics Inc. | Add +366.5% | 0.08% | +0.06 |
| ABT Abbott Laboratories | Add +1069.5% | 0.07% | +0.06 |
| WFC Wells Fargo & Co. | Add +23.3% | 0.45% | +0.06 |
| LECO Lincoln Electric Holdings | New | 0.06% | +0.06 |
| OKTA Okta Inc. | Add +9.2% | 0.12% | +0.05 |
| ATI Ati Inc. | Add +256.5% | 0.06% | +0.05 |
| IQV Iqvia Holdings Inc. | Add +10.3% | 0.45% | +0.05 |
| ARMK Aramark | Add +6.1% | 0.18% | +0.05 |
| FISV Fiserv Inc. | Add +51.8% | 0.27% | +0.05 |
| ST Sensata Technologies Holdplc | Add +150.7% | 0.07% | +0.04 |
| MTZ Mastec Inc. | New | 0.04% | +0.04 |
| LPX Louisiana-Pacific Corp. | Add +35.8% | 0.18% | +0.04 |
| ESNT Essent Group Ltd. | Add +126.5% | 0.08% | +0.04 |
| DINO HF Sinclair Corp. | Add +122.7% | 0.08% | +0.04 |
| NXPI NXP Semiconductors NV | Add +3.3% | 0.17% | +0.04 |
| SCSC Scansource Inc. | New | 0.04% | +0.04 |
| OVV Ovintiv Inc. | Add +114.2% | 0.09% | +0.04 |
| OC Owens Corning | Add +4.1% | 0.14% | +0.04 |
| PR Permian Resources Corp. Class A | Add +129.7% | 0.09% | +0.04 |
Notes & Other Activity Q1 2026 → Q2 2026
| GME.WS Gamestop Corp. | *W EXP 10/30/202 | Reduce -93.8% | 479 | $1K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 620 | $5.8B | VWO, AGG, NVDA, AAPL, VCSH |
| Q1 2026 | 621 | $5.2B | VWO, AGG, NVDA, AAPL, MSFT |
| Q4 2025 | 605 | $5.3B | VWO, AGG, MSFT, NVDA, AAPL |
| Q3 2025 | 606 | $5.1B | VWO, AGG, MSFT, AAPL, NVDA |
| Q2 2025 | 612 | $5.2B | VWO, AGG, MSFT, AAPL, NVDA |
| Q1 2025 | 596 | $4.9B | VWO, AGG, MSFT, AAPL, AMZN |
| Q4 2024 | 593 | $5.0B | VWO, AGG, MSFT, AAPL, NVDA |
| Q3 2024 | 588 | $5.1B | VWO, AGG, MSFT, AAPL, VTOL |
| Q2 2024 | 581 | $4.9B | VWO, MSFT, AGG, AAPL, VTOL |
| Q1 2024 | 584 | $4.8B | VWO, AGG, MSFT, AAPL, VTOL |