SEC 13F Intelligence

Managers / Q1 2023 · view latest →

South Dakota Investment Council

CIK 0001538846 · 4009 W. 49TH STREET, SUITE 300, SIOUX FALLS, SD, 57106 · 605-362-2820

Reported Value
$4.7B
Q1 2023
Positions
621
Filings on Record
31
2019–present window
Filed
May 10, 2023
original filing

Summary

South Dakota Investment Council reported $4.7B in U.S.-listed holdings across 621 positions for Q1 2023.

Its largest position, VWO, represents 13.6% of the portfolio.

Compared with Q4 2022, the fund opened 30 new positions and exited 20.

Portfolio Metrics

Turnover
+6.3%
vs prior filed quarter
Top-10 Concentration
+36.5%
share of reported value
Largest Position
+13.6%
Vanguard Intl Equity Index F
New / Exited
30 / 20
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $4.0BQ4 ’18Q1 ’19: $4.7BQ2 ’19: $4.8BQ3 ’19: $5.1BQ4 ’19: $4.8BQ4 ’19Q1 ’20: $3.7BQ2 ’20: $4.3BQ3 ’20: $4.6BQ4 ’20: $5.4BQ4 ’20Q1 ’21: $6.0BQ2 ’21: $5.7BQ3 ’21: $5.6BQ4 ’21: $6.0BQ4 ’21Q1 ’22: $5.0BQ2 ’22: $4.4BQ3 ’22: $4.1BQ4 ’22: $4.5BQ4 ’22Q1 ’23: $4.7BQ2 ’23: $4.8BQ3 ’23: $4.4BQ4 ’23: $4.7BQ4 ’23Q1 ’24: $4.8BQ2 ’24: $4.9BQ3 ’24: $5.1BQ4 ’24: $5.0BQ4 ’24Q1 ’25: $4.9BQ2 ’25: $5.2BQ3 ’25: $5.1BQ4 ’25: $5.3BQ4 ’25Q1 ’26: $5.2Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 76.4%ETP: 18.9%REIT: 3.3%ADR: 0.9%Other: 0.5%
  • Common Stock · 76.4% · $3.6B
  • ETP · 18.9% · $885M
  • REIT · 3.3% · $157M
  • ADR · 0.9% · $42M
  • Other · 0.5% · $23M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
CFRCULLEN FROST BANKERS INCNEW+84.3K84.3K+$9M$9M
LINLINDE PLCNEW+12.8K12.8K+$5M$5M
DTDYNATRACE INCNEW+67.3K67.3K+$3M$3M
HWCHANCOCK WHITNEY CORPORATIONNEW+71.4K71.4K+$3M$3M
COLBCOLUMBIA BKG SYS INCNEW+106.8K106.8K+$2M$2M
SANMSANMINA CORPORATIONNEW+36.0K36.0K+$2M$2M
EXECHESAPEAKE ENERGY CORPNEW+28.0K28.0K+$2M$2M
CRKCOMSTOCK RES INCNEW+173.3K173.3K+$2M$2M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2023

498 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1VWOVANGUARD INTL EQUITY INDEX Fhistory →FTSE EMR MKT ETF13.56%$637M15.76M
2AGGISHARES TRhistory →CORE US AGGBD ET4.97%$234M2.34M
3MSFTMICROSOFT CORPhistory →COM3.98%$187M648.0K
4AAPLAPPLE INChistory →COM3.52%$165M1.00M
5VTOLBRISTOW GROUP INChistory →COM2.70%$127M5.67M
6GOOGALPHABET INCCAP STK CL C · CAP STK CL A2.66%$125M1.20M
7AMZNAMAZON COM INChistory →COM1.80%$85M820.1K
8BRK/BBERKSHIRE HATHAWAY INC DELCL B NEW · CL A1.21%$57M172.2K
9METAMETA PLATFORMS INChistory →CL A1.21%$57M267.4K
10WFCWELLS FARGO CO NEWhistory →COM0.88%$41M1.11M
11UNHUNITEDHEALTH GROUP INChistory →COM0.82%$39M81.6K
12VVISA INChistory →COM CL A0.80%$37M166.0K
13PFEPFIZER INChistory →COM0.78%$36M893.8K
14PYPLPAYPAL HLDGS INChistory →COM0.72%$34M444.6K
15HESHESS CORPhistory →COM0.70%$33M246.8K
16NVDANVIDIA CORPORATIONhistory →COM0.69%$32M116.3K
17MRKMERCK & CO INChistory →COM0.68%$32M300.4K
18EXMOCEXXON MOBIL CORPhistory →COM0.67%$32M288.3K
19MAMASTERCARD INCORPORATEDhistory →CL A0.65%$31M84.5K
20JPMJPMORGAN CHASE & COhistory →COM0.61%$29M220.0K
21CMCSACOMCAST CORP NEWhistory →CL A0.60%$28M748.3K
22AMATAPPLIED MATLS INChistory →COM0.59%$28M224.3K
23MDTMEDTRONIC PLChistory →SHS0.58%$27M339.5K
24COPCONOCOPHILLIPShistory →COM0.58%$27M274.7K
25CCITIGROUP INChistory →COM NEW0.56%$26M556.4K
26ADBEADOBE SYSTEMS INCORPORATEDhistory →COM0.55%$26M66.8K
27LLYLILLY ELI & COhistory →COM0.55%$26M74.9K
28DISDISNEY WALT COhistory →COM0.52%$25M246.1K
29HUMHUMANA INChistory →COM0.52%$25M50.6K
30SLBSCHLUMBERGER LTDhistory →COM STK0.49%$23M466.4K
31BNYBANK NEW YORK MELLON CORPhistory →COM0.48%$23M498.2K
32FDXFEDEX CORPhistory →COM0.47%$22M97.1K
33WMTWALMART INChistory →COM0.46%$21M145.7K
34USBUS BANCORP DELhistory →COM NEW0.46%$21M595.4K
35OXYOCCIDENTAL PETE CORPhistory →COM0.46%$21M343.4K
36AMDADVANCED MICRO DEVICES INChistory →COM0.45%$21M216.3K
37EOGEOG RES INChistory →COM0.44%$21M181.8K
38AMGNAMGEN INChistory →COM0.44%$21M86.2K
39EWEDWARDS LIFESCIENCES CORPhistory →COM0.44%$21M250.8K
40GILDGILEAD SCIENCES INChistory →COM0.44%$21M247.5K
41PLDPROLOGIS INC.history →COM0.42%$20M156.6K
42RGAREINSURANCE GRP OF AMERICA Ihistory →COM NEW0.41%$19M143.7K
43TFCTRUIST FINL CORPhistory →COM0.41%$19M559.0K
44CNCCENTENE CORP DELhistory →COM0.40%$19M298.6K
45ALKALASKA AIR GROUP INChistory →COM0.39%$18M434.1K
46LVSLAS VEGAS SANDS CORPhistory →COM0.38%$18M308.8K
47JNJJOHNSON & JOHNSONhistory →COM0.38%$18M113.9K
48LYBLYONDELLBASELL INDUSTRIES Nhistory →SHS - A -0.37%$17M185.9K
49TPRTAPESTRY INChistory →COM0.37%$17M397.8K
50STTSTATE STR CORPhistory →COM0.36%$17M224.5K
51MUMICRON TECHNOLOGY INChistory →COM0.36%$17M278.4K
52MDLZMONDELEZ INTL INChistory →CL A0.34%$16M231.6K
53SHELSHELL PLChistory →SPON ADS0.34%$16M280.5K
54PMPHILIP MORRIS INTL INChistory →COM0.34%$16M165.9K
55ACTIVISION BLIZZARD INCCOM0.34%$16M187.7K
56LAM RESEARCH CORPCOM0.34%$16M30.2K
57BAXBAXTER INTL INChistory →COM0.34%$16M392.2K
58RTXRAYTHEON TECHNOLOGIES CORPhistory →COM0.34%$16M161.6K
59TE CONNECTIVITY LTDSHS0.33%$16M119.7K
60HALHALLIBURTON COhistory →COM0.33%$15M489.8K
61VRTXVERTEX PHARMACEUTICALS INChistory →COM0.33%$15M48.9K
62FOXAFOX CORPhistory →CL A COM0.32%$15M444.6K
63KLACKLA CORPhistory →COM NEW0.32%$15M37.5K
64SPYSPDR S&P 500 ETF TRhistory →TR UNIT0.32%$15M36.5K
65DALDELTA AIR LINES INC DELhistory →COM NEW0.32%$15M427.1K
66WOLFSPEED INCCOM0.32%$15M229.6K
67INCYINCYTE CORPhistory →COM0.31%$15M201.9K
68CPRICAPRI HOLDINGS LIMITEDhistory →SHS0.31%$14M307.9K
69PVHPVH CORPORATIONhistory →COM0.30%$14M160.2K
70FISFIDELITY NATL INFORMATION SVhistory →COM0.30%$14M260.8K
71ELVELEVANCE HEALTH INChistory →COM0.30%$14M30.2K
72MR COOPER GROUP INCCOM0.29%$14M330.8K
73GDGENERAL DYNAMICS CORPhistory →COM0.29%$14M59.4K
74LUVSOUTHWEST AIRLS COhistory →COM0.29%$13M414.5K
75CXCEMEX SAB DE CVhistory →SPON ADR NEW0.28%$13M2.37M
76PDC ENERGY INCCOM0.28%$13M204.2K
77SWKSTANLEY BLACK & DECKER INChistory →COM0.28%$13M161.5K
78FANGDIAMONDBACK ENERGY INChistory →COM0.27%$13M92.6K
79PBPROSPERITY BANCSHARES INChistory →COM0.26%$12M201.6K
80VZVERIZON COMMUNICATIONS INChistory →COM0.26%$12M315.2K
81INTCINTEL CORPhistory →COM0.26%$12M372.9K
82BKNGBOOKING HOLDINGS INChistory →COM0.26%$12M4.6K
83WDCWESTERN DIGITAL CORP.history →COM0.25%$12M313.5K
84VICIVICI PPTYS INChistory →COM0.25%$12M355.4K
85TALOTALOS ENERGY INChistory →COM0.25%$12M780.5K
86LMTLOCKHEED MARTIN CORPhistory →COM0.25%$12M24.5K
87PSXPHILLIPS 66history →COM0.24%$12M113.5K
88WBAWALGREENS BOOTS ALLIANCE INChistory →COM0.24%$11M329.3K
89HANESBRANDS INCCOM0.24%$11M2.10M
90TSLATESLA INChistory →COM0.23%$11M52.6K
91ORCLORACLE CORPhistory →COM0.23%$11M115.0K
92TXNTEXAS INSTRS INChistory →COM0.23%$11M57.3K
93ZBHZIMMER BIOMET HOLDINGS INChistory →COM0.22%$10M81.1K
94EWBCEAST WEST BANCORP INChistory →COM0.22%$10M187.6K
95CHTRCHARTER COMMUNICATIONS INC Nhistory →CL A0.22%$10M29.1K
96HCCWARRIOR MET COAL INChistory →COM0.22%$10M281.0K
97WHRWHIRLPOOL CORPhistory →COM0.22%$10M77.5K
98UNPUNION PAC CORPhistory →COM0.22%$10M50.7K
99PCARPACCAR INChistory →COM0.22%$10M137.9K
100BMYBRISTOL-MYERS SQUIBB COhistory →COM0.21%$10M145.3K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$5.2B622May 18, 202613F-HRchanges · EDGAR ↗
Q4 2025$5.3B606Feb 12, 202613F-HRchanges · EDGAR ↗
Q3 2025$5.1B606Nov 12, 202513F-HRchanges · EDGAR ↗
Q2 2025$5.2B613Aug 5, 202513F-HRchanges · EDGAR ↗
Q1 2025$4.9B596May 5, 202513F-HRchanges · EDGAR ↗
Q4 2024$5.0B594Feb 4, 202513F-HRchanges · EDGAR ↗
Q3 2024$5.1B589Nov 4, 202413F-HRchanges · EDGAR ↗
Q2 2024$4.9B581Aug 8, 202413F-HRchanges · EDGAR ↗
Q1 2024$4.8B584May 2, 202413F-HRchanges · EDGAR ↗
Q4 2023$4.7B616Feb 1, 202413F-HRchanges · EDGAR ↗
Q3 2023$4.4B616Nov 7, 202313F-HRchanges · EDGAR ↗
Q2 2023$4.8B613Aug 10, 202313F-HRchanges · EDGAR ↗
Q1 2023$4.7B621May 10, 202313F-HRchanges · EDGAR ↗
Q4 2022$4.5B611Feb 7, 202313F-HRchanges · EDGAR ↗
Q3 2022$4.1B621Nov 9, 202213F-HRchanges · EDGAR ↗
Q2 2022$4.4B610Aug 11, 202213F-HRchanges · EDGAR ↗
Q1 2022$5.0B591May 10, 202213F-HRchanges · EDGAR ↗
Q4 2021$6.0B586Feb 8, 202213F-HRchanges · EDGAR ↗
Q3 2021$5.6B586Nov 9, 202113F-HRchanges · EDGAR ↗
Q2 2021$5.7B577Aug 11, 202113F-HRchanges · EDGAR ↗
Q1 2021$6.0B614May 13, 202113F-HRchanges · EDGAR ↗
Q4 2020$5.4B611Feb 12, 202113F-HRchanges · EDGAR ↗
Q3 2020$4.6B600Nov 6, 202013F-HRchanges · EDGAR ↗
Q2 2020$4.3B595Aug 13, 202013F-HRchanges · EDGAR ↗
Q1 2020$3.7B588May 11, 202013F-HRchanges · EDGAR ↗
Q4 2019$4.8B586Feb 11, 202013F-HRchanges · EDGAR ↗
Q3 2019$5.1B619Nov 13, 201913F-HRchanges · EDGAR ↗
Q2 2019$4.8B601Aug 13, 201913F-HRchanges · EDGAR ↗
Q1 2019$4.7B597May 3, 201913F-HRchanges · EDGAR ↗
Q4 2018$4.0B610Feb 6, 2019RESTATEMENTchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.