South Dakota Investment Council

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 4, 2024), South Dakota Investment Council reported 588 stock positions worth $5.1 billion. Its top holding was Vanguard Ftse Emerging Marke (VWO) at 12.8% of the portfolio, followed by iShares Core U.S. Aggregate (AGG, 5.7%) and Microsoft (MSFT, 4.4%). Compared with Q2 2024, it opened 19 new positions, sold out of 12, added to 89 and reduced 131. The biggest buy was iShares Core U.S. Aggregate (AGG, shares +24%) and the biggest sale Microsoft (MSFT, shares −0%).

Most Recent 13F
Q2 2026
Location
SIOUX FALLS, SD
CIK
0001538846
Portfolio Value
$5.1B (Q3 2024)
SEC Filing
0001538846-24-000010 ↗ filed Nov 4, 2024

Holdings Value

0$2.0B$4.0B$6.0B Q1 2024: $4.8B Q1 2024 Q2 2024: $4.9B Q2 2024 Q3 2024: $5.1B $5.1B Q3 2024 Q4 2024: $5.0B Q4 2024 Q1 2025: $4.9B Q1 2025 Q2 2025: $5.2B Q2 2025 Q3 2025: $5.1B Q3 2025 Q4 2025: $5.3B Q4 2025 Q1 2026: $5.2B Q1 2026 Q2 2026: $5.8B Q2 2026

Holdings 588 stocks · $5.1B
VWO Vanguard Ftse Emerging Marke 12.81% 13,696,606 $655.4M Add +0.3%
AGG iShares Core U.S. Aggregate 5.74% 2,898,030 $293.5M Add +23.6%
MSFT Microsoft Corp. 4.42% 525,669 $226.2M Reduce -0.2%
AAPL Apple Inc. 3.94% 865,097 $201.6M Add +0.5%
VTOL Bristow Group Inc. 2.55% 3,768,665 $130.7M Reduce -7.7%
NVDA Nvidia Corp. 2.36% 995,750 $120.9M Reduce -0.1%
AMZN Amazon.com Inc. 2.29% 627,861 $117.0M Reduce -2.9%
GOOGL Alphabet Inc. Class A 1.49% 459,242 $76.2M Reduce -0.5%
META Meta Platforms Inc. Class A 1.42% 126,688 $72.5M Reduce -4.1%
GOOG Alphabet Inc. Class C 1.35% 414,116 $69.2M Reduce -4.7%
LLY Eli Lilly & Co. 1.14% 65,909 $58.4M No change
BRK.B Berkshire Hathaway Inc. Class B 1.09% 121,537 $55.9M Reduce -2.1%
XOM Exxon Mobil Corp. 1.00% 438,429 $51.4M Reduce -6.6%
UNH Unitedhealth Group Inc. 0.78% 68,159 $39.9M Reduce -9.7%
PFE Pfizer Inc. 0.76% 1,339,986 $38.8M Add +3.5%
JNJ Johnson & Johnson 0.72% 227,147 $36.8M Add +5.9%
HUM Humana Inc. 0.68% 109,598 $34.7M Add +6.0%
V Visa Inc. Class A 0.63% 117,000 $32.2M No change
PYPL PayPal Holdings Inc. 0.60% 394,283 $30.8M Reduce -0.4%
EG Everest Group Ltd. 0.60% 78,185 $30.6M Add +34.0%
RGA Reinsurance Group of America 0.59% 138,700 $30.2M Reduce -3.1%
MA Mastercard Inc. Class A 0.58% 60,172 $29.7M No change
HES Hess Corp. 0.58% 218,295 $29.6M Add +0.6%
USB US Bancorp 0.58% 645,639 $29.5M Reduce -0.7%
COP Conocophillips 0.55% 266,200 $28.0M Add +5.3%
CMCSA Comcast Corp. Class A 0.54% 658,886 $27.5M No change
CSCO Cisco Systems Inc. 0.52% 501,197 $26.7M Add +19.2%
AMAT Applied Materials Inc. 0.52% 131,481 $26.6M Reduce -1.1%
WFC Wells Fargo & Co. 0.51% 461,592 $26.1M Add +3.1%
MDT Medtronic PLC 0.49% 279,102 $25.1M Add +3.3%
ALK Alaska Air Group Inc. 0.48% 543,343 $24.6M No change
AMD Advanced Micro Devices 0.48% 149,574 $24.5M No change
RNR Renaissancere Holdings Ltd. 0.48% 89,528 $24.4M Add +0.8%
C Citigroup Inc. 0.47% 387,733 $24.3M Reduce -13.9%
MRK Merck & Co. Inc. 0.47% 210,886 $23.9M No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.46% 243,299 $23.4M Add +7.8%
TPR Tapestry Inc. 0.46% 497,819 $23.4M Reduce -7.8%
CNC Centene Corp. 0.46% 310,299 $23.4M Add +3.8%
JPM JPMorgan Chase & Co. 0.45% 109,274 $23.0M Reduce -4.9%
BMY Bristol-Myers Squibb Co. 0.43% 427,492 $22.1M Add +25.4%
CPRI Capri Holdings Ltd. 0.43% 516,901 $21.9M Reduce -6.2%
JBL Jabil Inc. 0.41% 173,840 $20.8M Add +62.7%
EOG EOG Resources Inc. 0.40% 167,592 $20.6M No change
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.40% 487,088 $20.4M Add +27.8%
AVGO Broadcom Inc. 0.38% 113,870 $19.6M Add +2.9%
GPN Global Payments Inc. 0.38% 191,684 $19.6M Add +51.1%
OXY Occidental Petroleum Corp. 0.38% 380,902 $19.6M Add +16.2%
DG Dollar General Corp. 0.38% 231,229 $19.6M Add +62.5%
MRNA Moderna Inc. 0.38% 287,899 $19.2M Add +35.6%
TXN Texas Instruments Inc. 0.37% 92,263 $19.1M Reduce -21.3%
SOLV Solventum Corp. 0.37% 269,979 $18.8M Add +79.8%
COOP Mr Cooper Group Inc. 0.37% 203,789 $18.8M Reduce -8.1%
HAL Halliburton Co. 0.36% 642,745 $18.7M Add +55.5%
GILD Gilead Sciences Inc. 0.36% 221,038 $18.5M No change
LYB Lyondellbasell Indu Class A 0.36% 191,293 $18.3M Add +9.0%
TGT Target Corp. 0.36% 116,910 $18.2M Reduce -0.8%
WMT Walmart Inc. 0.35% 224,508 $18.1M Reduce -29.8%
DE Deere & Co. 0.35% 43,005 $17.9M Add +20.5%
DAL Delta Air Lines Inc. 0.34% 343,178 $17.4M Add +2.6%
FSLR First Solar Inc. 0.32% 66,301 $16.5M Reduce -6.6%
ACGL Arch Capital Group Ltd. 0.32% 147,248 $16.5M Add +2.5%
FANG Diamondback Energy Inc. 0.32% 94,490 $16.3M Reduce -1.2%
EW Edwards Lifesciences Corp. 0.31% 241,619 $15.9M Reduce -1.7%
CHTR Charter Communications Inc. Class A 0.31% 48,821 $15.8M Reduce -2.8%
DUK Duke Energy Corp. 0.31% 135,586 $15.6M No change
VZ Verizon Communications Inc. 0.30% 342,789 $15.4M Add +1.4%
SWK Stanley Black & Decker Inc. 0.29% 135,874 $15.0M Reduce -5.8%
CVS CVS Health Corp. 0.29% 237,445 $14.9M No change
UNM Unum Group 0.29% 247,349 $14.7M Add +33.8%
TSLA Tesla Inc. 0.29% 55,845 $14.6M No change
MU Micron Technology Inc. 0.28% 139,616 $14.5M No change
LKQ LKQ Corp. 0.28% 360,779 $14.4M Add +1584.5%
FDX FedEx Corp. 0.28% 52,553 $14.4M Reduce -8.9%
FIS Fidelity National Info Serv 0.28% 170,754 $14.3M Reduce -16.5%
STT State Street Corp. 0.28% 161,096 $14.3M Reduce -23.2%
PM Philip Morris International 0.28% 116,326 $14.1M Reduce -18.4%
SHEL Shell PLC-ADR 0.27% 211,777 $14.0M No change
EWBC East West Bancorp Inc. 0.26% 162,955 $13.5M Reduce -7.7%
BBWI Bath & Body Works Inc. 0.26% 420,441 $13.4M Add +896.5%
GD General Dynamics Corp. 0.26% 44,326 $13.4M Reduce -15.1%
BAX Baxter International Inc. 0.26% 352,664 $13.4M No change
FOXA Fox Corp. Class A 0.26% 315,809 $13.4M Reduce -3.2%
TEL Te Connectivity PLC 0.26% 88,197 $13.3M No change
VRTX Vertex Pharmaceuticals Inc. 0.26% 28,368 $13.2M Reduce -16.2%
ELV Elevance Health Inc. 0.26% 25,351 $13.2M No change
TFC Truist Financial Corp. 0.25% 300,685 $12.9M Reduce -42.1%
FHN First Horizon Corp. 0.25% 818,766 $12.7M Reduce -0.8%
LRCX Lam Research Corp. 0.24% 15,332 $12.5M New
MDLZ Mondelez International Inc. Class A 0.24% 166,432 $12.3M Reduce -0.5%
NEE Nextera Energy Inc. 0.24% 143,646 $12.1M No change
WHR Whirlpool Corp. 0.23% 111,946 $12.0M No change
CHRD Chord Energy Corp. 0.23% 91,350 $11.9M Add +38.9%
RTX RTX Corp. 0.23% 97,244 $11.8M Reduce -25.4%
AIG American International Group 0.23% 160,828 $11.8M No change
MTDR Matador Resources Co. 0.23% 237,698 $11.7M Add +13.0%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.23% 162,378 $11.7M Reduce -50.0%
AN Autonation Inc. 0.23% 65,162 $11.7M Reduce -7.1%
GPI Group 1 Automotive Inc. 0.23% 30,433 $11.7M Reduce -14.4%
INCY Incyte Corp. 0.22% 170,735 $11.3M No change
UPS United Parcel Service Class B 0.22% 82,450 $11.2M Add +14.9%

Show all 588 holdings

Other holdings (1): bonds, preferreds, convertibles and warrants · $9K (not counted above)
SecurityClassShares / PrincipalValueChange
OXY.WS Occidental Petroleum-CW27 *W EXP 08/03/202 287$9KNew

Total filed on the 13F, all lines: $5.1B.

Portfolio Sells Q2 2024 → Q3 2024
MSFT Microsoft Corp. Reduce -0.2% 4.42% −0.40
LRCX Lam Research Corp. Sold out 0.00% −0.37
SPY SS SPDR S&P 500 ETF Trust-US Sold out 0.00% −0.32
GOOG Alphabet Inc. Class C Reduce -4.7% 1.35% −0.28
AMZN Amazon.com Inc. Reduce -2.9% 2.29% −0.28
VTOL Bristow Group Inc. Reduce -7.7% 2.55% −0.25
GOOGL Alphabet Inc. Class A Reduce -0.5% 1.49% −0.24
BNY Bank of New York Mellon Corp. Reduce -50.0% 0.23% −0.17
MHK Mohawk Industries Inc. Reduce -79.3% 0.06% −0.16
TFC Truist Financial Corp. Reduce -42.1% 0.25% −0.16
NVDA Nvidia Corp. Reduce -0.1% 2.36% −0.16
EW Edwards Lifesciences Corp. Reduce -1.7% 0.31% −0.15
IP International Paper Co. Reduce -95.2% 0.01% −0.13
AMAT Applied Materials Inc. Reduce -1.1% 0.52% −0.12
KLAC KLA Corp. Reduce -66.8% 0.05% −0.12
C Citigroup Inc. Reduce -13.9% 0.47% −0.11
XOM Exxon Mobil Corp. Reduce -6.6% 1.00% −0.10
MTB M & T Bank Corp. Reduce -44.9% 0.16% −0.10
TXN Texas Instruments Inc. Reduce -21.3% 0.37% −0.10
WMT Walmart Inc. Reduce -29.8% 0.35% −0.09
IFF Intl Flavors & Fragrances Reduce -78.6% 0.03% −0.09
CHRW C.H. Robinson Worldwide Inc. Reduce -83.7% 0.02% −0.09
AFL Aflac Inc. Reduce -48.9% 0.13% −0.08
ABG Asbury Automotive Group Reduce -35.2% 0.14% −0.08
FANG Diamondback Energy Inc. Reduce -1.2% 0.32% −0.07
FDX FedEx Corp. Reduce -8.9% 0.28% −0.07
KNSL Kinsale Capital Group Inc. Reduce -63.5% 0.05% −0.07
HRB H&R Block Inc. Reduce -66.9% 0.04% −0.07
ZBRA Zebra Technologies Corp. Class A Reduce -43.6% 0.12% −0.07
VRTX Vertex Pharmaceuticals Inc. Reduce -16.2% 0.26% −0.07
CMA Comerica Inc. Reduce -43.9% 0.10% −0.06
REX Rex American Resources Corp. Reduce -20.7% 0.20% −0.06
BAC Bank of America Corp. Reduce -21.5% 0.17% −0.06
AMGN Amgen Inc. Reduce -19.5% 0.19% −0.05
GD General Dynamics Corp. Reduce -15.1% 0.26% −0.05
PB Prosperity Bancshares Inc. Sold out 0.00% −0.05
SCI Service Corp. International Reduce -33.6% 0.11% −0.05
PNC PNC Financial Services Group Reduce -27.7% 0.19% −0.04
COLB Columbia Banking System Inc. Reduce -39.7% 0.12% −0.04
STT State Street Corp. Reduce -23.2% 0.28% −0.04
RTX RTX Corp. Reduce -25.4% 0.23% −0.04
FIS Fidelity National Info Serv Reduce -16.5% 0.28% −0.04
HAS Hasbro Inc. Reduce -33.4% 0.12% −0.03
WDC Western Digital Corp. Reduce -3.7% 0.15% −0.03
QCOM Qualcomm Inc. Reduce -5.7% 0.10% −0.03
DKS Dick's Sporting Goods Inc. Reduce -34.5% 0.05% −0.03
BANC Banc of California Inc. Reduce -26.2% 0.12% −0.03
CVX Chevron Corp. Reduce -19.1% 0.08% −0.03
ADBE Adobe Inc. Reduce -14.3% 0.08% −0.03
PENG Penguin Solutions Inc. Reduce -33.9% 0.04% −0.03

Portfolio Buys Q2 2024 → Q3 2024
AGG iShares Core U.S. Aggregate Add +23.6% 5.74% +1.07
VWO Vanguard Ftse Emerging Marke Add +0.3% 12.81% +0.56
LKQ LKQ Corp. Add +1584.5% 0.28% +0.26
LRCX Lam Research Corp. New 0.24% +0.24
BBWI Bath & Body Works Inc. Add +896.5% 0.26% +0.23
AAPL Apple Inc. Add +0.5% 3.94% +0.22
SOLV Solventum Corp. Add +79.8% 0.37% +0.21
JBL Jabil Inc. Add +62.7% 0.41% +0.17
EG Everest Group Ltd. Add +34.0% 0.60% +0.14
APA Apa Corp. Add +414.8% 0.19% +0.14
BMY Bristol-Myers Squibb Co. Add +25.4% 0.43% +0.14
LW Lamb Weston Holdings Inc. New 0.13% +0.13
GPN Global Payments Inc. Add +51.1% 0.38% +0.13
DOW Dow Inc. Add +228.3% 0.18% +0.12
CSCO Cisco Systems Inc. Add +19.2% 0.52% +0.11
CRBG Corebridge Financial Inc. New 0.09% +0.09
UNM Unum Group Add +33.8% 0.29% +0.09
HAL Halliburton Co. Add +55.5% 0.36% +0.08
CUBI Customers Bancorp Inc. Add +91.3% 0.18% +0.08
DE Deere & Co. Add +20.5% 0.35% +0.08
JNJ Johnson & Johnson Add +5.9% 0.72% +0.08
RNR Renaissancere Holdings Ltd. Add +0.8% 0.48% +0.07
NKE Nike Inc. Class B Add +141.7% 0.11% +0.07
CELH Celsius Holdings Inc. Add +558.5% 0.09% +0.07
AXS Axis Capital Holdings Ltd. New 0.06% +0.06
MTCH Match Group Inc. Add +23.0% 0.17% +0.06
MDT Medtronic PLC Add +3.3% 0.49% +0.06
CNC Centene Corp. Add +3.8% 0.46% +0.05
ALV Autoliv Inc. Add +236.4% 0.07% +0.05
MCHP Microchip Technology Inc. Add +120.9% 0.10% +0.05
THC Tenet Healthcare Corp. New 0.04% +0.04
ILMN Illumina Inc. Add +220.5% 0.05% +0.04
VVV Valvoline Inc. New 0.03% +0.03
SLB SLB Ltd. Add +27.8% 0.40% +0.03
TAP Molson Coors Beverage Co. Class B Add +32.1% 0.10% +0.03
DLTR Dollar Tree Inc. Add +799.9% 0.03% +0.03
PVH PVH Corp. Add +35.6% 0.15% +0.03
VT Vanguard Tot World STK ETF New 0.03% +0.03
ESNT Essent Group Ltd. Add +6.4% 0.18% +0.03
ACGL Arch Capital Group Ltd. Add +2.5% 0.32% +0.02
GNTX Gentex Corp. Add +81.7% 0.07% +0.02
DV Doubleverify Holdings Inc. New 0.02% +0.02
APTV Aptiv Irish Holdings Ltd. Add +20.9% 0.14% +0.02
CSX CSX Corp. Add +45.6% 0.07% +0.02
GTLS Chart Industries Inc. New 0.02% +0.02
AVGO Broadcom Inc. Add +2.9% 0.38% +0.02
UPS United Parcel Service Class B Add +14.9% 0.22% +0.02
AMKR Amkor Technology Inc. New 0.02% +0.02
MKSI MKS Inc. Add +658.1% 0.02% +0.02
SNCY Sun Country Airlines Holding New 0.02% +0.02

Notes & Other Activity Q2 2024 → Q3 2024
OXY.WS Occidental Petroleum-CW27 *W EXP 08/03/202 New 287 $9K

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 620$5.8BVWO, AGG, NVDA, AAPL, VCSH
Q1 2026 621$5.2BVWO, AGG, NVDA, AAPL, MSFT
Q4 2025 605$5.3BVWO, AGG, MSFT, NVDA, AAPL
Q3 2025 606$5.1BVWO, AGG, MSFT, AAPL, NVDA
Q2 2025 612$5.2BVWO, AGG, MSFT, AAPL, NVDA
Q1 2025 596$4.9BVWO, AGG, MSFT, AAPL, AMZN
Q4 2024 593$5.0BVWO, AGG, MSFT, AAPL, NVDA
Q3 2024 588$5.1BVWO, AGG, MSFT, AAPL, VTOL
Q2 2024 581$4.9BVWO, MSFT, AGG, AAPL, VTOL
Q1 2024 584$4.8BVWO, AGG, MSFT, AAPL, VTOL