South Dakota Investment Council
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 18, 2026), South Dakota Investment Council reported 621 stock positions worth $5.2 billion. Its top holding was Vanguard Ftse Emerging Marke (VWO) at 11.0% of the portfolio, followed by iShares Core U.S. Aggregate (AGG, 6.2%) and Nvidia (NVDA, 4.1%). Compared with Q4 2025, it opened 26 new positions, sold out of 11, added to 126 and reduced 183. The biggest buy was iShares Core U.S. Aggregate (AGG, shares +16%) and the biggest sale Alphabet Class A (GOOGL, shares −8%).
- Most Recent 13F
- Q2 2026
- Location
- SIOUX FALLS, SD
- CIK
- 0001538846
- Portfolio Value
- $5.2B (Q1 2026)
- SEC Filing
- 0001538846-26-000003 ↗ filed May 18, 2026
Holdings Value
Holdings 621 stocks · $5.2B
| VWO Vanguard Ftse Emerging Marke | 10.97% | 10,642,001 | $575.2M | Reduce -0.8% |
| AGG iShares Core U.S. Aggregate | 6.19% | 3,272,335 | $324.8M | Add +16.0% |
| NVDA Nvidia Corp. | 4.10% | 1,233,387 | $215.1M | Add +9.8% |
| AAPL Apple Inc. | 3.63% | 749,700 | $190.3M | Reduce -0.4% |
| MSFT Microsoft Corp. | 3.26% | 461,233 | $170.7M | Add +2.4% |
| VCSH Vanguard S/T Corp. Bond ETF | 2.70% | 1,785,348 | $141.5M | Add +9.0% |
| AMZN Amazon.com Inc. | 2.30% | 579,068 | $120.6M | Add +4.6% |
| GOOGL Alphabet Inc. Class A | 1.78% | 324,336 | $93.3M | Reduce -7.7% |
| VTOL Bristow Group Inc. | 1.76% | 1,965,845 | $92.2M | Reduce -29.0% |
| GOOG Alphabet Inc. Class C | 1.47% | 268,801 | $77.1M | Add +0.0% |
| USHY iShares Broad Usd High Yield | 1.38% | 1,963,000 | $72.3M | Add +1.9% |
| META Meta Platforms Inc. Class A | 1.27% | 116,583 | $66.7M | Add +0.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.01% | 110,356 | $52.9M | Add +0.6% |
| UNH Unitedhealth Group Inc. | 0.90% | 173,485 | $46.9M | Add +6.4% |
| LLY Eli Lilly & Co. | 0.79% | 45,200 | $41.6M | Reduce -5.5% |
| AVGO Broadcom Inc. | 0.78% | 132,026 | $40.9M | Add +24.2% |
| COP Conocophillips | 0.76% | 303,803 | $40.1M | Reduce -11.3% |
| HUM Humana Inc. | 0.76% | 229,090 | $39.7M | Add +42.0% |
| USB US Bancorp | 0.72% | 724,399 | $37.7M | Reduce -0.5% |
| ELV Elevance Health Inc. | 0.68% | 121,181 | $35.5M | Add +7.9% |
| PFE Pfizer Inc. | 0.64% | 1,202,854 | $33.8M | Reduce -0.2% |
| EG Everest Group Ltd. | 0.64% | 101,931 | $33.3M | Add +8.7% |
| BBWI Bath & Body Works Inc. | 0.63% | 1,756,048 | $32.8M | Add +4.2% |
| V Visa Inc. Class A | 0.56% | 97,357 | $29.4M | Reduce -0.5% |
| EOG EOG Resources Inc. | 0.54% | 194,644 | $28.1M | Reduce -1.1% |
| CMCSA Comcast Corp. Class A | 0.53% | 969,717 | $27.8M | Add +3.9% |
| AMAT Applied Materials Inc. | 0.53% | 81,033 | $27.7M | Reduce -12.9% |
| TGT Target Corp. | 0.51% | 220,924 | $26.8M | Reduce -0.4% |
| UPS United Parcel Service Class B | 0.51% | 271,221 | $26.7M | Add +0.3% |
| ZTS Zoetis Inc. | 0.50% | 220,819 | $26.1M | Add +77.2% |
| TXN Texas Instruments Inc. | 0.50% | 134,132 | $26.0M | Reduce -0.4% |
| XOM Exxon Mobil Corp. | 0.49% | 152,510 | $25.9M | Reduce -24.6% |
| OXY Occidental Petroleum Corp. | 0.49% | 393,064 | $25.5M | Reduce -12.2% |
| SLB SLB Ltd. filed as SLB LIMITED | 0.49% | 495,917 | $25.5M | Reduce -11.7% |
| APA Apa Corp. | 0.48% | 597,035 | $25.3M | Reduce -26.0% |
| MA Mastercard Inc. Class A | 0.48% | 50,524 | $25.2M | Add +7.0% |
| RGA Reinsurance Group of America | 0.46% | 118,430 | $24.2M | Reduce -4.2% |
| LYB Lyondellbasell Indu Class A | 0.45% | 293,471 | $23.6M | Reduce -0.9% |
| MOH Molina Healthcare Inc. | 0.43% | 168,307 | $22.4M | Add +62.9% |
| STZ Constellation Brands Inc. Class A | 0.42% | 147,538 | $22.1M | Reduce -0.1% |
| ACGL Arch Capital Group Ltd. | 0.42% | 226,826 | $21.8M | Add +1.6% |
| MRK Merck & Co. Inc. | 0.41% | 179,966 | $21.6M | Reduce -11.1% |
| LBRT Liberty Energy Inc. | 0.41% | 747,194 | $21.5M | Reduce -17.6% |
| HAL Halliburton Co. | 0.41% | 548,909 | $21.4M | Reduce -20.1% |
| IQV Iqvia Holdings Inc. | 0.40% | 122,152 | $20.8M | Add +33.4% |
| WFC Wells Fargo & Co. | 0.39% | 255,991 | $20.4M | Add +0.1% |
| AMD Advanced Micro Devices | 0.39% | 99,534 | $20.2M | Reduce -11.3% |
| FANG Diamondback Energy Inc. | 0.39% | 102,127 | $20.2M | Reduce -1.6% |
| CHRD Chord Energy Corp. | 0.36% | 132,890 | $18.9M | Reduce -4.0% |
| TMO Thermo Fisher Scientific Inc. | 0.36% | 37,908 | $18.6M | Add +11.4% |
| MTDR Matador Resources Co. | 0.35% | 294,267 | $18.6M | Reduce -6.8% |
| JNJ Johnson & Johnson | 0.35% | 75,642 | $18.5M | Reduce -10.5% |
| CNC Centene Corp. | 0.35% | 564,618 | $18.5M | Reduce -3.6% |
| PVH PVH Corp. | 0.34% | 258,558 | $18.0M | Add +18.1% |
| C Citigroup Inc. | 0.33% | 153,245 | $17.4M | Reduce -15.5% |
| LKQ LKQ Corp. | 0.33% | 584,057 | $17.2M | Add +1.5% |
| CHTR Charter Communications Inc. Class A | 0.33% | 79,428 | $17.1M | Add +14.9% |
| TSLA Tesla Inc. | 0.33% | 46,033 | $17.1M | Reduce -0.4% |
| ZBH Zimmer Biomet Holdings Inc. | 0.32% | 187,504 | $17.0M | Add +1.5% |
| ALK Alaska Air Group Inc. | 0.31% | 448,271 | $16.5M | Add +9.7% |
| CVX Chevron Corp. | 0.31% | 79,126 | $16.4M | Reduce -21.5% |
| JPM JPMorgan Chase & Co. | 0.31% | 55,368 | $16.3M | Reduce -0.4% |
| DUK Duke Energy Corp. | 0.31% | 124,207 | $16.3M | Reduce -0.6% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.31% | 168,424 | $16.2M | Add +0.0% |
| DHR Danaher Corp. | 0.31% | 85,466 | $16.2M | Add +25.2% |
| LRCX Lam Research Corp. | 0.31% | 74,985 | $16.0M | Reduce -0.6% |
| VSAT Viasat Inc. | 0.29% | 336,056 | $15.4M | Add +92.6% |
| VZ Verizon Communications Inc. | 0.29% | 305,172 | $15.3M | Reduce -0.4% |
| CSX CSX Corp. | 0.29% | 366,377 | $15.0M | Reduce -21.3% |
| PYPL PayPal Holdings Inc. | 0.28% | 326,549 | $14.8M | Reduce -0.3% |
| DE Deere & Co. | 0.28% | 26,101 | $14.7M | Reduce -11.0% |
| HON Honeywell International Inc. | 0.27% | 63,142 | $14.3M | Reduce -0.4% |
| EQH Equitable Holdings Inc. | 0.27% | 377,662 | $14.0M | Add +18.3% |
| ACN Accenture PLC Class A | 0.27% | 70,450 | $14.0M | Add +19.2% |
| RNR Renaissancere Holdings Ltd. | 0.27% | 46,852 | $13.9M | Reduce -7.1% |
| LMT Lockheed Martin Corp. | 0.26% | 22,829 | $13.8M | Reduce -1.2% |
| HPQ HP Inc. | 0.26% | 715,294 | $13.7M | Add +18.5% |
| CVS CVS Health Corp. | 0.26% | 188,951 | $13.6M | Reduce -0.4% |
| PG The Procter & Gamble Co. | 0.26% | 93,589 | $13.5M | Add +5.2% |
| RTX RTX Corp. | 0.26% | 70,068 | $13.5M | Reduce -0.7% |
| GNRC Generac Holdings Inc. | 0.26% | 69,139 | $13.5M | Add +14.5% |
| SOLV Solventum Corp. | 0.25% | 203,610 | $13.3M | Add +1.4% |
| LOW Lowe's Cos Inc. | 0.25% | 56,206 | $13.3M | Add +1.9% |
| ARW Arrow Electronics Inc. | 0.25% | 91,245 | $13.1M | Reduce -1.9% |
| TFC Truist Financial Corp. | 0.25% | 280,082 | $12.9M | Reduce -0.4% |
| MU Micron Technology Inc. | 0.24% | 37,998 | $12.8M | Reduce -11.7% |
| SW Smurfit Westrock PLC | 0.24% | 321,477 | $12.8M | Reduce -17.7% |
| EMN Eastman Chemical Co. | 0.24% | 167,710 | $12.8M | Reduce -0.3% |
| UNM Unum Group | 0.24% | 169,405 | $12.4M | Reduce -2.6% |
| ADBE Adobe Inc. | 0.23% | 49,927 | $12.1M | Add +16.8% |
| NEE Nextera Energy Inc. | 0.23% | 130,003 | $12.1M | Reduce -0.3% |
| FISV Fiserv Inc. | 0.23% | 214,578 | $12.0M | Add +21.7% |
| GPN Global Payments Inc. | 0.23% | 177,169 | $11.9M | Add +0.3% |
| WCC Wesco International Inc. | 0.22% | 42,803 | $11.7M | Reduce -0.3% |
| UNP Union Pacific Corp. | 0.22% | 47,859 | $11.6M | Reduce -0.3% |
| PEP Pepsico Inc. | 0.22% | 73,881 | $11.5M | Reduce -1.3% |
| INTC Intel Corp. | 0.22% | 259,167 | $11.4M | Reduce -2.1% |
| MCHP Microchip Technology Inc. | 0.22% | 176,859 | $11.4M | Reduce -0.4% |
| MDLZ Mondelez International Inc. Class A | 0.22% | 196,927 | $11.4M | Add +16.8% |
| MDT Medtronic PLC | 0.22% | 130,679 | $11.3M | Reduce -6.2% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $30K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| GME.WS Gamestop Corp. | *W EXP 10/30/202 | 7,679 | $30K | No change |
Total filed on the 13F, all lines: $5.2B.
Portfolio Sells Q4 2025 → Q1 2026
| GOOGL Alphabet Inc. Class A | Reduce -7.7% | 1.78% | −0.32 |
| AAPL Apple Inc. | Reduce -0.4% | 3.63% | −0.27 |
| FSLR First Solar Inc. | Reduce -60.7% | 0.09% | −0.21 |
| DG Dollar General Corp. | Reduce -55.9% | 0.14% | −0.21 |
| CENX Century Aluminum Company | Reduce -90.4% | 0.03% | −0.20 |
| LLY Eli Lilly & Co. | Reduce -5.5% | 0.79% | −0.19 |
| VTOL Bristow Group Inc. | Reduce -29.0% | 1.76% | −0.17 |
| CLF Cleveland-Cliffs Inc. | Reduce -96.3% | 0.00% | −0.16 |
| BMY Bristol-Myers Squibb Co. | Reduce -49.1% | 0.20% | −0.15 |
| NUE Nucor Corp. | Reduce -78.3% | 0.04% | −0.14 |
| STLD Steel Dynamics Inc. | Reduce -79.8% | 0.03% | −0.12 |
| CNC Centene Corp. | Reduce -3.6% | 0.35% | −0.11 |
| CSCO Cisco Systems Inc. | Reduce -41.9% | 0.15% | −0.10 |
| V Visa Inc. Class A | Reduce -0.5% | 0.56% | −0.09 |
| SHEL Shell PLC-ADR | Reduce -69.5% | 0.06% | −0.09 |
| FDX FedEx Corp. | Reduce -42.3% | 0.21% | −0.09 |
| PYPL PayPal Holdings Inc. | Reduce -0.3% | 0.28% | −0.08 |
| C Citigroup Inc. | Reduce -15.5% | 0.33% | −0.07 |
| AMD Advanced Micro Devices | Reduce -11.3% | 0.39% | −0.07 |
| WBD Warner Bros Discovery Inc. | Sold out | 0.00% | −0.07 |
| FOXA Fox Corp. Class A | Reduce -74.5% | 0.02% | −0.07 |
| TSLA Tesla Inc. | Reduce -0.4% | 0.33% | −0.07 |
| LUV Southwest Airlines Co. | Reduce -38.7% | 0.08% | −0.06 |
| PNC PNC Financial Services Group | Reduce -30.7% | 0.13% | −0.06 |
| QCOM Qualcomm Inc. | Reduce -0.3% | 0.17% | −0.06 |
| MO Altria Group Inc. | Reduce -74.0% | 0.02% | −0.06 |
| ACT Enact Holdings Inc. | Reduce -54.1% | 0.04% | −0.05 |
| AA Alcoa Corp. | Reduce -78.7% | 0.02% | −0.05 |
| SF Stifel Financial Corp. | Reduce -62.7% | 0.02% | −0.05 |
| SW Smurfit Westrock PLC | Reduce -17.7% | 0.24% | −0.04 |
| CIVI Civitas Resources Inc. | Sold out | 0.00% | −0.04 |
| MDT Medtronic PLC | Reduce -6.2% | 0.22% | −0.04 |
| GS Goldman Sachs Group Inc. | Reduce -62.8% | 0.02% | −0.04 |
| SNCY Sun Country Airlines Holding | Reduce -73.2% | 0.02% | −0.04 |
| CPRI Capri Holdings Ltd. | Reduce -1.3% | 0.10% | −0.04 |
| CL Colgate-Palmolive Co. | Reduce -29.2% | 0.12% | −0.04 |
| RKT Rocket Cos Inc. Class A | Reduce -10.4% | 0.07% | −0.04 |
| CMA Comerica Inc. | Sold out | 0.00% | −0.04 |
| GEHC GE Healthcare Technology | Reduce -3.1% | 0.20% | −0.04 |
| FICO Fair Isaac Corp. | Reduce -0.6% | 0.06% | −0.04 |
| CSX CSX Corp. | Reduce -21.3% | 0.29% | −0.03 |
| TRU Transunion | Reduce -62.0% | 0.01% | −0.03 |
| JPM JPMorgan Chase & Co. | Reduce -0.4% | 0.31% | −0.03 |
| CUBI Customers Bancorp Inc. | Reduce -13.2% | 0.14% | −0.03 |
| JXN Jackson Financial Inc. Class A | Reduce -17.7% | 0.13% | −0.03 |
| CVS CVS Health Corp. | Reduce -0.4% | 0.26% | −0.03 |
| DOW Dow Inc. | Reduce -61.7% | 0.06% | −0.03 |
| MTUS Metallus Inc. | Reduce -22.6% | 0.08% | −0.03 |
| PPG PPG Industries Inc. | Reduce -18.4% | 0.15% | −0.03 |
| HCC Warrior Met Coal Inc. | Reduce -92.9% | 0.00% | −0.03 |
Portfolio Buys Q4 2025 → Q1 2026
| AGG iShares Core U.S. Aggregate | Add +16.0% | 6.19% | +0.83 |
| VCSH Vanguard S/T Corp. Bond ETF | Add +9.0% | 2.70% | +0.21 |
| ZTS Zoetis Inc. | Add +77.2% | 0.50% | +0.20 |
| VSAT Viasat Inc. | Add +92.6% | 0.29% | +0.18 |
| CDW CDW Corp. | Add +391.1% | 0.19% | +0.15 |
| BKNG Booking Holdings Inc. | Add +593.0% | 0.18% | +0.14 |
| NOW ServiceNow Inc. | Add +2076.9% | 0.15% | +0.14 |
| INTU Intuit Inc. | Add +1504.5% | 0.15% | +0.13 |
| NFLX Netflix Inc. | Add +433.9% | 0.16% | +0.13 |
| NVDA Nvidia Corp. | Add +9.8% | 4.10% | +0.11 |
| LPX Louisiana-Pacific Corp. | Add +351.5% | 0.14% | +0.10 |
| GNRC Generac Holdings Inc. | Add +14.5% | 0.26% | +0.10 |
| RS Reliance Inc. | Add +103.0% | 0.18% | +0.09 |
| ARMK Aramark | Add +178.2% | 0.14% | +0.09 |
| MOH Molina Healthcare Inc. | Add +62.9% | 0.43% | +0.09 |
| AVGO Broadcom Inc. | Add +24.2% | 0.78% | +0.08 |
| CARR Carrier Global Corp. | Add +235.8% | 0.10% | +0.07 |
| SM SM Energy Co. | New | 0.07% | +0.07 |
| PVH PVH Corp. | Add +18.1% | 0.34% | +0.06 |
| MTN Vail Resorts Inc. | Add +66.3% | 0.17% | +0.06 |
| NKE Nike Inc. Class B | Add +62.6% | 0.21% | +0.05 |
| CHTR Charter Communications Inc. Class A | Add +14.9% | 0.33% | +0.05 |
| WTRG Essential Utilities Inc. | Add +71.7% | 0.12% | +0.05 |
| HRB H&R Block Inc. | Add +679.7% | 0.06% | +0.05 |
| SFM Sprouts Farmers Market Inc. | Add +228.5% | 0.07% | +0.05 |
| OVV Ovintiv Inc. | Add +357.3% | 0.05% | +0.05 |
| MDLZ Mondelez International Inc. Class A | Add +16.8% | 0.22% | +0.04 |
| MP MP Materials Corp. | Add +516.1% | 0.05% | +0.04 |
| HTO H2O America | New | 0.04% | +0.04 |
| CLX Clorox Company | Add +22.8% | 0.18% | +0.04 |
| FITB Fifth Third Bancorp | Add +456.8% | 0.04% | +0.04 |
| FN Fabrinet | New | 0.04% | +0.04 |
| SYY Sysco Corp. | Add +39.4% | 0.13% | +0.03 |
| PPC Pilgrim's Pride Corp. | Add +68.7% | 0.08% | +0.03 |
| WAT Waters Corp. | Add +849.6% | 0.04% | +0.03 |
| UBER Uber Technologies Inc. | Add +189.3% | 0.05% | +0.03 |
| PINS Pinterest Inc. Class A | New | 0.03% | +0.03 |
| EG Everest Group Ltd. | Add +8.7% | 0.64% | +0.03 |
| COHR Coherent Corp. | Add +9.4% | 0.10% | +0.03 |
| TAP Molson Coors Beverage Co. Class B | Add +43.5% | 0.10% | +0.03 |
| ROP Roper Technologies Inc. | New | 0.02% | +0.02 |
| MTG Mgic Investment Corp. | Add +29.7% | 0.17% | +0.02 |
| RPM RPM International Inc. | Add +52.2% | 0.08% | +0.02 |
| NMIH Nmi Holdings Inc. | Add +25.4% | 0.17% | +0.02 |
| ACM Aecom | Add +101.8% | 0.05% | +0.02 |
| GNTX Gentex Corp. | Add +22.0% | 0.18% | +0.02 |
| INGR Ingredion Inc. | Add +33.2% | 0.08% | +0.02 |
| IRDM Iridium Communications Inc. | New | 0.02% | +0.02 |
| RDN Radian Group Inc. | Add +28.3% | 0.14% | +0.02 |
| DDOG Datadog Inc. Class A | New | 0.02% | +0.02 |
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 |