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Asset Manager ← All Institutions

South Dakota Investment Council

Q4 2025 · Filed 2026-02-12
Market Value
$5.2B
+1.9%
Holdings
618
-15
New Purchases
21
Added To
99
Closed
22
Reduced
435
Top 10 Concentration
39.2%
Turnover
7.0%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
VCSH 2.51% 0.00% +2.51% $131M
USHY 1.38% 0.00% +1.38% $72M
ZTS 0.30% 0.03% +0.27% $16M
BBWI 0.65% 0.40% +0.25% $34M
NVDA 4.02% 3.77% +0.24% $210M
GOOGL 2.11% 1.91% +0.20% $110M
MOH 0.34% 0.18% +0.16% $18M
GOOG 1.62% 1.47% +0.15% $84M
LLY 0.99% 0.84% +0.14% $51M
HON 0.24% 0.10% +0.14% $12M
CLX 0.14% 0.02% +0.12% $7M
RDN 0.12% 0.00% +0.12% $6M
RKT 0.11% 0.00% +0.11% $6M
CL 0.16% 0.05% +0.11% $9M
USB 0.75% 0.64% +0.11% $39M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
VWO 11.06% 12.54% -1.47% $577M
MSFT 4.18% 4.76% -0.58% $218M
VTOL 1.94% 2.25% -0.30% $101M
UNH 1.03% 1.33% -0.29% $54M
COOP 0.00% 0.22% -0.22% $0
META 1.47% 1.63% -0.16% $77M
CSCO 0.25% 0.41% -0.15% $13M
STT 0.10% 0.22% -0.13% $5M
OC 0.10% 0.23% -0.12% $5M
JNJ 0.34% 0.45% -0.12% $17M
SHEL 0.15% 0.27% -0.12% $8M
DG 0.35% 0.46% -0.11% $18M
FOXA 0.09% 0.19% -0.11% $5M
CLF 0.17% 0.27% -0.10% $9M
RNR 0.27% 0.38% -0.10% $14M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 55 $1.7B 32.8%
Large Cap 351 $2.8B 53.9%
Mid Cap 178 $556M 10.7%
Small Cap 34 $137M 2.6%

Portfolio Analytics

Avg Market Cap
$114.2B
Median Market Cap
$17.2B
Avg P/E
31.1
Median P/E
21.3
Avg Dividend Yield
0.02%
Avg Beta
0.96
# Stocks
613
# ETFs / Funds
5

Top Holdings (618 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 VWO 11.06% 10,728,387 $577M $53.76 -$65M -1,114,079 -9.4%
2 AGG 5.40% 2,821,235 $282M $99.88 $3M +36,500 +1.3%
3 MSFT 4.18% 450,592 $218M $483.62 -$26M -20,180 -4.3%
4 NVDA 4.02% 1,123,662 $210M $186.50 $16M +88,225 +8.5%
5 AAPL 3.92% 752,718 $205M $271.86 $2M -42,168 -5.3%
6 VCSH 2.51% 1,638,348 $131M $79.73 +1,638,348 NEW
7 AMZN 2.45% 553,484 $128M $230.82 $6M -2,438 -0.4%
8 GOOGL 2.11% 351,524 $110M $313.00 $12M -51,229 -12.7%
9 VTOL 1.94% 2,767,745 $101M $36.62 -$14M -422,347 -13.2%
10 GOOG 1.62% 268,790 $84M $313.80 $9M -39,830 -12.9%
11 META 1.47% 116,034 $77M $660.09 -$7M +2,634 +2.3%
12 USHY 1.38% 1,926,000 $72M $37.40 +1,926,000 NEW
13 BRK-B 1.06% 109,756 $55M $502.65 -$3M -6,500 -5.6%
14 UNH 1.03% 163,039 $54M $330.11 -$14M -33,487 -17.0%
15 LLY 0.99% 47,837 $51M $1,074.67 $8M -8,620 -15.3%
16 HUM 0.79% 161,383 $41M $256.13 $3M +12,541 +8.4%
17 ANTM 0.75% 112,298 $39M $350.55 $2M -3,014 -2.6%
18 USB 0.75% 728,211 $39M $53.36 $6M +55,246 +8.2%
19 AVGO 0.71% 106,282 $37M $346.10 $3M +4,650 +4.6%
20 V 0.66% 97,870 $34M $350.71 -$647K -4,569 -4.5%
21 BBWI 0.65% 1,684,793 $34M $20.08 $13M +885,997 +110.9%
22 COP 0.61% 342,552 $32M $93.61 $4M +42,252 +14.1%
23 RE 0.61% 93,761 $32M $339.35 -$925K +270 +0.3%
24 PFE 0.58% 1,204,986 $30M $24.90 -$3M -75,608 -5.9%
25 CMCSA 0.54% 933,463 $28M $29.89 -$11K +45,100 +5.1%
26 MA 0.52% 47,204 $27M $570.88 -$1M -2,655 -5.3%
27 UPS 0.51% 270,350 $27M $99.19 $4M +200 +0.1%
28 RGA 0.48% 123,648 $25M $203.46 -$1M -12,800 -9.4%
29 XOM 0.47% 202,282 $24M $120.34 $406K -10,020 -4.7%
30 CNC 0.46% 585,674 $24M $41.15 $5M +49,329 +9.2%
31 AMD 0.46% 112,149 $24M $214.16 $744K -31,706 -22.0%
32 AMAT 0.46% 93,049 $24M $256.99 $1M -18,025 -16.2%
33 WFC 0.46% 255,861 $24M $93.20 $2M -8,600 -3.2%
34 TXN 0.45% 134,713 $23M $173.49 $6M +37,468 +38.5%
35 TGT 0.42% 221,871 $22M $97.75 $2M -1,100 -0.5%
36 SLB 0.41% 561,453 $22M $38.38 $2M -8,750 -1.5%
37 ACGL 0.41% 223,271 $21M $95.92 $496K -7,300 -3.2%
38 MRK 0.41% 202,458 $21M $105.26 $4M -5,300 -2.5%
39 C 0.41% 181,348 $21M $116.69 $258K -24,591 -11.9%
40 TSLA 0.40% 46,237 $21M $449.73 -$1M -2,820 -5.8%
41 EOG 0.40% 196,834 $21M $105.01 $3M +40,539 +25.9%
42 IQV 0.40% 91,541 $21M $225.41 $2M -5,700 -5.9%
43 ALK 0.39% 408,563 $21M $50.30 $4M +73,061 +21.8%
44 STZ 0.39% 147,727 $20M $137.96 $3M +18,788 +14.6%
45 APA 0.38% 807,159 $20M $24.46 -$595K -30,500 -3.6%
46 TMO 0.38% 34,018 $20M $579.46 -$461K -7,574 -18.2%
47 HAL 0.37% 686,977 $19M $28.26 $610K -77,400 -10.1%
48 DIS 0.37% 168,349 $19M $113.77 -$879K -6,600 -3.8%
49 PYPL 0.37% 327,626 $19M $58.38 -$4M -14,000 -4.1%
50 BMY 0.36% 347,405 $19M $53.94 $333K -60,700 -14.9%
51 OXY 0.35% 447,851 $18M $41.12 -$930K +38,403 +9.4%
52 DG 0.35% 135,626 $18M $132.77 -$5M -90,837 -40.1%
53 MOH 0.34% 103,322 $18M $173.54 $9M +54,180 +110.2%
54 JPM 0.34% 55,606 $18M $322.21 -$348K -2,300 -4.0%
55 JNJ 0.34% 84,539 $17M $206.95 -$6M -41,014 -32.7%
56 LKQ 0.33% 575,570 $17M $30.20 $2M +57,400 +11.1%
57 CSX 0.32% 465,233 $17M $36.25 $114K -6,500 -1.4%
58 LBRT 0.32% 906,608 $17M $18.46 $4M -146,834 -13.9%
59 ZBH 0.32% 184,744 $17M $89.92 $5M +64,555 +53.7%
60 SOLV 0.31% 200,891 $16M $79.24 -$2M -41,934 -17.3%
61 ACN 0.30% 59,101 $16M $268.30 $5M +14,598 +32.8%
62 ZTS 0.30% 124,585 $16M $125.82 $14M +113,803 +1055.5%
63 DHR 0.30% 68,249 $16M $228.93 $2M -1,600 -2.3%
64 FANG 0.30% 103,771 $16M $150.33 $2M +10,055 +10.7%
65 FSLR 0.30% 59,556 $16M $261.23 -$3M -22,427 -27.4%
66 FDX 0.30% 53,847 $16M $288.86 -$2M -21,346 -28.4%
67 CVX 0.29% 100,842 $15M $152.41 -$4M -22,210 -18.1%
68 EQH 0.29% 319,156 $15M $47.65 -$347K +12,829 +4.2%
69 CVS 0.29% 189,769 $15M $79.36 -$676K -18,961 -9.1%
70 ADBE 0.29% 42,749 $15M $350.00 -$527K -1,161 -2.6%
71 PVH 0.28% 218,952 $15M $67.02 -$4M -5,820 -2.6%
72 DUK 0.28% 124,941 $15M $117.21 -$978K -1,300 -1.0%
73 CHTR 0.28% 69,137 $14M $208.74 -$2M +8,674 +14.3%
74 RNR 0.27% 50,441 $14M $281.16 -$5M -25,210 -33.3%
75 TFC 0.27% 281,234 $14M $49.21 $881K -2,200 -0.8%
76 GPN 0.26% 176,556 $14M $77.40 -$1M -1,800 -1.0%
77 DE 0.26% 29,340 $14M $465.58 $43K -440 -1.5%
78 UNM 0.26% 173,957 $13M $77.50 $294K +4,400 +2.6%
79 HPQ 0.26% 603,819 $13M $22.28 $3M +213,881 +54.9%
80 MTDR 0.26% 315,830 $13M $42.44 $214K +22,269 +7.6%
81 MDT 0.26% 139,367 $13M $96.06 -$3M -34,494 -19.8%
82 LOW 0.26% 55,160 $13M $241.15 -$907K -1,380 -2.4%
83 CSCO 0.25% 172,500 $13M $77.03 -$8M -133,330 -43.6%
84 RTX 0.25% 70,535 $13M $183.40 $284K -5,075 -6.7%
85 LRCX 0.25% 75,469 $13M $171.18 $2M -7,925 -9.5%
86 CHRD 0.25% 138,381 $13M $92.70 -$574K +3,512 +2.6%
87 LYB 0.25% 296,137 $13M $43.30 -$2M +600 +0.2%
88 PG 0.24% 88,967 $13M $143.31 $6M +43,388 +95.2%
89 VZ 0.24% 306,479 $12M $40.73 -$1M -6,000 -1.9%
90 CENX 0.24% 317,361 $12M $39.18 $1M -63,800 -16.7%
91 HON 0.24% 63,411 $12M $195.09 $7M +39,532 +165.6%
92 MU 0.24% 43,039 $12M $285.42 -$1M -37,234 -46.4%
93 GEHC 0.23% 148,812 $12M $82.02 -$712K -23,200 -13.5%
94 QCOM 0.23% 70,676 $12M $171.05 -$2M -13,173 -15.7%
95 FI 0.23% 176,267 $12M $67.17 $9K +84,501 +92.1%
96 MCHP 0.22% 177,644 $11M $63.72 -$518K -6,670 -3.6%
97 LMT 0.21% 23,100 $11M $483.68 -$346K +25 +0.1%
98 UNP 0.21% 48,019 $11M $231.33 -$519K -1,170 -2.4%
99 PEP 0.21% 74,834 $11M $143.52 -$65K -2,100 -2.7%
100 EMN 0.21% 168,231 $11M $63.83 $635K +8,000 +5.0%

New Positions

SymbolValue% Port
VCSH $131M 2.51%
USHY $72M 1.38%
RDN $6M 0.12%
RKT $6M 0.11%
VNQ $3M 0.06%
CRK $2M 0.05%
NTNX $2M 0.04%
AVT $2M 0.04%
AVAV $910K 0.02%
DNOW $857K 0.02%
GIL $677K 0.01%
NRG $653K 0.01%
ETR $545K 0.01%
OVV $404K 0.01%
KR $275K 0.01%

Sold Out Positions

SymbolValue% Port
IP —%
CRC —%
CIEN —%
JBL —%
LAD —%
TTE —%
MSA —%
AMWD —%
EA —%
MTSI —%
CHRW —%
AKAM —%
LITE —%
SNDK —%
ARCB —%
View SEC EDGAR Filings for South Dakota Investment Council →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms