# South Dakota Investment Council

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1538846. Source: https://holderbook.com/funds/1538846-south-dakota-investment-council/

- Reported value: $5.8B
- Positions: 621
- Weight of the ten largest: 37.9%
- Filed: 2026-08-11

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $617.0M | 10,336,538 | 10.6% | 31 |
| ISHARES TR | [AGG](https://holderbook.com/stocks/AGG/) | $341.8M | 3,453,435 | 5.9% | 18 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $267.9M | 1,338,670 | 4.6% | 31 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $215.6M | 744,947 | 3.7% | 31 |
| VANGUARD SCOTTSDALE FDS | [VCSH](https://holderbook.com/stocks/VCSH/) | $186.1M | 2,355,122 | 3.2% | 3 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $171.1M | 458,784 | 2.9% | 31 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $134.6M | 564,563 | 2.3% | 31 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $108.9M | 304,600 | 1.9% | 31 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $92.8M | 262,529 | 1.6% | 31 |
| ISHARES TR | [USHY](https://holderbook.com/stocks/USHY/) | $74.3M | 2,006,500 | 1.3% | 3 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $68.2M | 121,131 | 1.2% | 31 |
| BRISTOW GROUP INC | [VTOL](https://holderbook.com/stocks/VTOL/) | $66.3M | 1,603,618 | 1.1% | 25 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $61.5M | 162,684 | 1.1% | 31 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $55.8M | 95,975 | 1.0% | 18 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $54.0M | 107,973 | 0.9% | 31 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $50.3M | 69,528 | 0.9% | 31 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $49.5M | 41,297 | 0.8% | 31 |
| BATH & BODY WORKS INC | [BBWI](https://holderbook.com/stocks/BBWI/) | $43.8M | 1,893,888 | 0.8% | 17 |
| ZOETIS INC | [ZTS](https://holderbook.com/stocks/ZTS/) | $42.4M | 590,102 | 0.7% | 9 |
| US BANCORP | [USB](https://holderbook.com/stocks/USB/) | $42.3M | 701,020 | 0.7% | 31 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $39.1M | 93,988 | 0.7% | 31 |
| ELEVANCE HEALTH INC FORMERLY | [ELV](https://holderbook.com/stocks/ELV/) | $39.0M | 100,835 | 0.7% | 31 |
| EVEREST GROUP LTD | [EG](https://holderbook.com/stocks/EG/) | $36.8M | 102,992 | 0.6% | 10 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $36.1M | 31,275 | 0.6% | 31 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $34.3M | 115,087 | 0.6% | 31 |
| CONOCOPHILLIPS | [COP](https://holderbook.com/stocks/COP/) | $34.1M | 327,723 | 0.6% | 27 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $32.9M | 95,912 | 0.6% | 31 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $32.3M | 74,624 | 0.6% | 8 |
| HUMANA INC | [HUM](https://holderbook.com/stocks/HUM/) | $31.3M | 78,896 | 0.5% | 31 |
| CDW CORP | [CDW](https://holderbook.com/stocks/CDW/) | $30.7M | 218,632 | 0.5% | 23 |
| UNITED PARCEL SVCS INC | [UPS](https://holderbook.com/stocks/UPS/) | $30.2M | 280,661 | 0.5% | 31 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $30.1M | 215,629 | 0.5% | 31 |
| MOLINA HEALTHCARE INC | [MOH](https://holderbook.com/stocks/MOH/) | $29.8M | 130,276 | 0.5% | 31 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $28.1M | 1,166,118 | 0.5% | 31 |
| COMCAST CORP NEW | [CMCSA](https://holderbook.com/stocks/CMCSA/) | $26.9M | 1,097,490 | 0.5% | 31 |
| REINSURANCE GROUP AMER INC | [RGA](https://holderbook.com/stocks/RGA/) | $26.9M | 126,629 | 0.5% | 31 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $26.1M | 315,522 | 0.4% | 31 |
| IQVIA HLDGS INC | [IQV](https://holderbook.com/stocks/IQV/) | $26.0M | 134,669 | 0.4% | 7 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $25.8M | 50,246 | 0.4% | 31 |
| CHARTER COMMUNICATIONS INC | [CHTR](https://holderbook.com/stocks/CHTR/) | $25.7M | 180,839 | 0.4% | 22 |
| EOG RES INC | [EOG](https://holderbook.com/stocks/EOG/) | $24.8M | 191,076 | 0.4% | 30 |
| ALASKA AIR GROUP INC | [ALK](https://holderbook.com/stocks/ALK/) | $24.2M | 463,482 | 0.4% | 31 |
| RENAISSANCERE HLDGS LTD | [RNR](https://holderbook.com/stocks/RNR/) | $22.3M | 70,505 | 0.4% | 31 |
| OCCIDENTAL PETE CORP | [OXY](https://holderbook.com/stocks/OXY/) | $22.1M | 455,056 | 0.4% | 31 |
| ARCH CAP GROUP LTD | [ACGL](https://holderbook.com/stocks/ACGL/) | $21.9M | 225,526 | 0.4% | 10 |
| DANAHER CORP DEL | [DHR](https://holderbook.com/stocks/DHR/) | $21.8M | 114,619 | 0.4% | 17 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $21.4M | 166,665 | 0.4% | 31 |
| SLB LIMITED | [SLB](https://holderbook.com/stocks/SLB/) | $20.8M | 446,879 | 0.4% | 31 |
| CONSTELLATION BRANDS INC | [STZ](https://holderbook.com/stocks/STZ/) | $20.3M | 146,098 | 0.3% | 30 |
| EXXONMOBIL HOLDINGS CORP COM SHS | [XOM](https://holderbook.com/stocks/XOM/) | $20.0M | 145,930 | 0.3% | 1 |
| ZIMMER BIOMET HOLDINGS INC | [ZBH](https://holderbook.com/stocks/ZBH/) | $19.6M | 227,685 | 0.3% | 31 |
| MEDTRONIC PLC | [MDT](https://holderbook.com/stocks/MDT/) | $19.5M | 249,346 | 0.3% | 31 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $19.4M | 38,598 | 0.3% | 31 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $19.1M | 45,376 | 0.3% | 23 |
| APA CORPORATION | [APA](https://holderbook.com/stocks/APA/) | $18.8M | 577,758 | 0.3% | 22 |
| LOWES COS INC | [LOW](https://holderbook.com/stocks/LOW/) | $18.7M | 84,606 | 0.3% | 31 |
| GENERAC HLDGS INC | [GNRC](https://holderbook.com/stocks/GNRC/) | $18.3M | 62,390 | 0.3% | 17 |
| CITIGROUP INC | [C](https://holderbook.com/stocks/C/) | $18.1M | 129,610 | 0.3% | 31 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $17.9M | 54,648 | 0.3% | 31 |
| DIAMONDBACK ENERGY INC | [FANG](https://holderbook.com/stocks/FANG/) | $17.8M | 101,106 | 0.3% | 29 |
| HALLIBURTON CO | [HAL](https://holderbook.com/stocks/HAL/) | $17.8M | 523,434 | 0.3% | 31 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $17.2M | 67,922 | 0.3% | 31 |
| GE HEALTHCARE TECHNOLOGIES I | [GEHC](https://holderbook.com/stocks/GEHC/) | $16.7M | 260,303 | 0.3% | 14 |
| DEERE & CO | [DE](https://holderbook.com/stocks/DE/) | $16.5M | 25,976 | 0.3% | 31 |
| ANNALY CAPITAL MANAGEMENT IN | [NLY](https://holderbook.com/stocks/NLY/) | $16.3M | 730,038 | 0.3% | 9 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $16.2M | 168,057 | 0.3% | 31 |
| FISERV INC | [FISV](https://holderbook.com/stocks/FISV/) | $16.0M | 325,742 | 0.3% | 5 |
| DUKE ENERGY CORP NEW | [DUK](https://holderbook.com/stocks/DUK/) | $15.7M | 124,207 | 0.3% | 31 |
| HP INC | [HPQ](https://holderbook.com/stocks/HPQ/) | $15.7M | 715,294 | 0.3% | 5 |
| SOLVENTUM CORP | [SOLV](https://holderbook.com/stocks/SOLV/) | $15.7M | 203,403 | 0.3% | 9 |
| SMURFIT WESTROCK PLC | [SW](https://holderbook.com/stocks/SW/) | $15.6M | 336,694 | 0.3% | 4 |
| EQUITABLE HLDGS INC | [EQH](https://holderbook.com/stocks/EQH/) | $15.5M | 352,587 | 0.3% | 6 |
| VANGUARD INTL EQUITY INDEX F | [VT](https://holderbook.com/stocks/VT/) | $15.4M | 97,932 | 0.3% | 1 |
| LKQ CORP | [LKQ](https://holderbook.com/stocks/LKQ/) | $15.4M | 583,306 | 0.3% | 31 |
| TARGET CORP | [TGT](https://holderbook.com/stocks/TGT/) | $15.0M | 115,141 | 0.3% | 31 |
| ARROW ELECTRS INC | [ARW](https://holderbook.com/stocks/ARW/) | $15.0M | 70,201 | 0.3% | 31 |
| LIBERTY ENERGY INC | [LBRT](https://holderbook.com/stocks/LBRT/) | $14.9M | 569,982 | 0.3% | 18 |
| CENTENE CORP DEL | [CNC](https://holderbook.com/stocks/CNC/) | $14.8M | 230,390 | 0.3% | 31 |
| WESCO INTL INC | [WCC](https://holderbook.com/stocks/WCC/) | $14.6M | 42,163 | 0.2% | 12 |
| PVH CORPORATION | [PVH](https://holderbook.com/stocks/PVH/) | $14.5M | 194,751 | 0.2% | 31 |
| UBER TECHNOLOGIES INC | [UBER](https://holderbook.com/stocks/UBER/) | $14.3M | 197,942 | 0.2% | 11 |
| MATADOR RES CO | [MTDR](https://holderbook.com/stocks/MTDR/) | $14.2M | 285,302 | 0.2% | 17 |
| SERVICENOW INC | [NOW](https://holderbook.com/stocks/NOW/) | $13.9M | 140,464 | 0.2% | 13 |
| TRUIST FINL CORP | [TFC](https://holderbook.com/stocks/TFC/) | $13.9M | 279,182 | 0.2% | 27 |
| LYONDELLBASELL INDUSTRIES NV | [LYB](https://holderbook.com/stocks/LYB/) | $13.9M | 263,937 | 0.2% | 31 |
| PAYPAL HLDGS INC | [PYPL](https://holderbook.com/stocks/PYPL/) | $13.8M | 320,157 | 0.2% | 31 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $13.8M | 94,240 | 0.2% | 31 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $13.2M | 69,564 | 0.2% | 26 |
| MICROCHIP TECHNOLOGY INC. | [MCHP](https://holderbook.com/stocks/MCHP/) | $13.0M | 142,939 | 0.2% | 31 |
| CHORD ENERGY CORPORATION | [CHRD](https://holderbook.com/stocks/CHRD/) | $13.0M | 113,859 | 0.2% | 10 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $13.0M | 47,781 | 0.2% | 31 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $13.0M | 70,242 | 0.2% | 31 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $12.9M | 304,850 | 0.2% | 31 |
| GLOBAL PMTS INC | [GPN](https://holderbook.com/stocks/GPN/) | $12.8M | 176,718 | 0.2% | 16 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $12.7M | 76,460 | 0.2% | 31 |
| ADOBE INC | [ADBE](https://holderbook.com/stocks/ADBE/) | $12.6M | 61,383 | 0.2% | 18 |
| CLOROX CO DEL | [CLX](https://holderbook.com/stocks/CLX/) | $12.5M | 131,384 | 0.2% | 5 |
| INTUIT | [INTU](https://holderbook.com/stocks/INTU/) | $12.4M | 47,599 | 0.2% | 13 |
| ACCENTURE PLC IRELAND | [ACN](https://holderbook.com/stocks/ACN/) | $12.3M | 99,133 | 0.2% | 31 |
| CVS HEALTH CORP | [CVS](https://holderbook.com/stocks/CVS/) | $12.3M | 118,914 | 0.2% | 31 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +11.2% | +14.8% | -3.6% | 100% |
| Q1 2026 | -0.5% | -4.6% | +4.1% | 100% |
| Q4 2025 | +3.1% | +2.4% | +0.8% | 100% |
| Q3 2025 | +7.7% | +7.8% | -0.1% | 100% |
| Q2 2025 | +6.2% | +10.5% | -4.3% | 100% |
| Q1 2025 | -2.8% | -4.6% | +1.7% | 100% |
| Q4 2024 | -1.6% | +2.1% | -3.7% | 100% |
| Q3 2024 | +5.0% | +5.4% | -0.5% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $5.8B | 621 |
| Q1 2026 | $5.2B | 622 |
| Q4 2025 | $5.3B | 606 |
| Q3 2025 | $5.1B | 606 |
| Q2 2025 | $5.2B | 612 |
| Q1 2025 | $4.9B | 596 |
| Q4 2024 | $5.0B | 594 |
| Q3 2024 | $5.1B | 589 |
| Q2 2024 | $4.9B | 581 |
| Q1 2024 | $4.8B | 584 |
| Q4 2023 | $4.7B | 616 |
| Q3 2023 | $4.4B | 616 |