SEC 13F Intelligence

Managers / Q4 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
Q4 2023
Positions
616
Filings on Record
29
2019–present window
Filed
Feb 1, 2024
original filing

Summary

South Dakota Investment Council reported $4.7B in U.S.-listed holdings across 616 positions for Q4 2023.

Its largest position, VWO, represents 12.2% of the portfolio.

Compared with Q3 2023, the fund opened 20 new positions and exited 20.

Portfolio Metrics

Turnover
+3.3%
vs prior filed quarter
Top-10 Concentration
+35.9%
share of reported value
Largest Position
+12.2%
Vanguard Intl Equity Index F
New / Exited
20 / 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
Q1 ’19: $4.7BQ1 ’19Q2 ’19: $4.8BQ3 ’19: $5.1BQ4 ’19: $4.8BQ1 ’20: $3.7BQ1 ’20Q2 ’20: $4.3BQ3 ’20: $4.6BQ4 ’20: $5.4BQ1 ’21: $6.0BQ1 ’21Q2 ’21: $5.7BQ3 ’21: $5.6BQ4 ’21: $6.0BQ1 ’22: $5.0BQ1 ’22Q2 ’22: $4.4BQ3 ’22: $4.1BQ4 ’22: $4.5BQ1 ’23: $4.7BQ1 ’23Q2 ’23: $4.8BQ3 ’23: $4.4BQ4 ’23: $4.7BQ1 ’24: $4.8BQ1 ’24Q2 ’24: $4.9BQ3 ’24: $5.1BQ4 ’24: $5.0BQ1 ’25: $4.9BQ1 ’25Q2 ’25: $5.2BQ3 ’25: $5.1BQ4 ’25: $5.3BQ1 ’26: $5.2BQ1 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 78.4%ETP: 17.1%REIT: 3.7%ADR: 0.4%Other: 0.3%
  • Common Stock · 78.4% · $3.7B
  • ETP · 17.1% · $805M
  • REIT · 3.7% · $176M
  • ADR · 0.4% · $21M
  • Other · 0.3% · $16M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
FSLRFIRST SOLAR INCNEW+60.6K60.6K+$10M$10M
KNSLKINSALE CAP GROUP INCNEW+13.7K13.7K+$5M$5M
NVTNVENT ELECTRIC PLCNEW+44.9K44.9K+$3M$3M
BERRY GLOBAL GROUP INCNEW+37.2K37.2K+$3M$3M
RPMRPM INTL INCNEW+17.5K17.5K+$2M$2M
RSRELIANCE STEEL & ALUMINUM CONEW+6.4K6.4K+$2M$2M
AGCOAGCO CORPNEW+13.0K13.0K+$2M$2M
LSCCLATTICE SEMICONDUCTOR CORPNEW+20.2K20.2K+$1M$1M

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

Holdings — Q4 2023

498 positions (from 500 filing rows — )
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1VWOVANGUARD INTL EQUITY INDEX Fhistory →FTSE EMR MKT ETF12.16%$573M13.93M
2AGGISHARES TRhistory →CORE US AGGBD ET4.94%$233M2.34M
3MSFTMICROSOFT CORPhistory →COM4.23%$199M529.4K
4AAPLAPPLE INChistory →COM3.48%$164M851.7K
5VTOLBRISTOW GROUP INChistory →COM2.99%$141M4.99M
6GOOGLALPHABET INCCAP STK CL A · CAP STK CL C2.70%$127M905.8K
7AMZNAMAZON COM INChistory →COM2.15%$101M667.8K
8BRK/BBERKSHIRE HATHAWAY INC DELCL B NEW · CL A1.13%$53M137.2K
9NVDANVIDIA CORPORATIONhistory →COM1.07%$50M101.5K
10METAMETA PLATFORMS INChistory →CL A1.00%$47M132.4K
11WFCWELLS FARGO CO NEWhistory →COM0.87%$41M831.3K
12LLYELI LILLY & COhistory →COM0.82%$39M66.3K
13UNHUNITEDHEALTH GROUP INChistory →COM0.77%$36M69.1K
14PFEPFIZER INChistory →COM0.76%$36M1.25M
15VVISA INChistory →COM CL A0.70%$33M125.8K
16HESHESS CORPhistory →COM0.63%$30M207.4K
17COPCONOCOPHILLIPShistory →COM0.63%$30M257.3K
18JNJJOHNSON & JOHNSONhistory →COM0.60%$28M180.2K
19CMCSACOMCAST CORP NEWhistory →CL A0.59%$28M638.6K
20EXMOCEXXON MOBIL CORPhistory →COM0.59%$28M278.2K
21MRKMERCK & CO INChistory →COM0.58%$27M252.0K
22MAMASTERCARD INCORPORATEDhistory →CL A0.57%$27M63.0K
23USBUS BANCORP DELhistory →COM NEW0.57%$27M619.9K
24HUMHUMANA INChistory →COM0.56%$26M57.3K
25CCITIGROUP INChistory →COM NEW0.56%$26M509.7K
26DISDISNEY WALT COhistory →COM0.54%$25M281.7K
27AMDADVANCED MICRO DEVICES INChistory →COM0.53%$25M169.7K
28PYPLPAYPAL HLDGS INChistory →COM0.52%$24M397.9K
29RGAREINSURANCE GRP OF AMERICA Ihistory →COM NEW0.51%$24M147.9K
30JPMJPMORGAN CHASE & COhistory →COM0.50%$24M139.5K
31CNCCENTENE CORP DELhistory →COM0.50%$24M319.1K
32BNYBANK NEW YORK MELLON CORPhistory →COM0.49%$23M441.0K
33MDTMEDTRONIC PLChistory →SHS0.48%$23M273.9K
34AMATAPPLIED MATLS INChistory →COM0.46%$22M134.3K
35PLDPROLOGIS INC.history →COM0.46%$22M163.1K
36MRNAMODERNA INChistory →COM0.45%$21M211.6K
37EOGEOG RES INChistory →COM0.43%$20M168.5K
38TPRTAPESTRY INChistory →COM0.42%$20M538.0K
39OXYOCCIDENTAL PETE CORPhistory →COM0.42%$20M329.8K
40EWEDWARDS LIFESCIENCES CORPhistory →COM0.42%$20M257.6K
41TFCTRUIST FINL CORPhistory →COM0.42%$20M529.6K
42TGTTARGET CORPhistory →COM0.41%$19M135.7K
43DGDOLLAR GEN CORP NEWhistory →COM0.40%$19M139.0K
44ALKALASKA AIR GROUP INChistory →COM0.40%$19M483.1K
45TXNTEXAS INSTRS INChistory →COM0.40%$19M109.5K
46CVSCVS HEALTH CORPhistory →COM0.40%$19M235.7K
47GILDGILEAD SCIENCES INChistory →COM0.38%$18M222.4K
48MR COOPER GROUP INCCOM0.38%$18M273.2K
49WMTWALMART INChistory →COM0.37%$17M110.2K
50MUMICRON TECHNOLOGY INChistory →COM0.37%$17M202.2K
51SLBSCHLUMBERGER LTDhistory →COM STK0.36%$17M324.2K
52LYBLYONDELLBASELL INDUSTRIES Nhistory →SHS - A -0.35%$17M175.2K
53PIONEER NAT RES COCOM0.35%$17M73.9K
54STTSTATE STR CORPhistory →COM0.35%$16M212.2K
55EWBCEAST WEST BANCORP INChistory →COM0.34%$16M223.1K
56INTCINTEL CORPhistory →COM0.34%$16M318.3K
57CPRICAPRI HOLDINGS LIMITEDhistory →SHS0.34%$16M317.9K
58FISFIDELITY NATL INFORMATION SVhistory →COM0.34%$16M263.5K
59RNRRENAISSANCERE HLDGS LTDhistory →COM0.33%$15M78.6K
60WDCWESTERN DIGITAL CORP.history →COM0.33%$15M294.0K
61FANGDIAMONDBACK ENERGY INChistory →COM0.33%$15M98.9K
62FHNFIRST HORIZON CORPORATIONhistory →COM0.32%$15M1.07M
63VRTXVERTEX PHARMACEUTICALS INChistory →COM0.32%$15M37.2K
64SHELSHELL PLChistory →SPON ADS0.32%$15M229.7K
65HALHALLIBURTON COhistory →COM0.32%$15M416.2K
66DALDELTA AIR LINES INC DELhistory →COM NEW0.31%$15M361.2K
67GDGENERAL DYNAMICS CORPhistory →COM0.31%$14M55.4K
68SWKSTANLEY BLACK & DECKER INChistory →COM0.30%$14M143.8K
69BAXBAXTER INTL INChistory →COM0.30%$14M364.7K
70LAM RESEARCH CORPCOM0.29%$14M17.4K
71PMPHILIP MORRIS INTL INChistory →COM0.29%$13M143.3K
72CVXCHEVRON CORP NEWhistory →COM0.29%$13M90.3K
73TSLATESLA INChistory →COM0.28%$13M54.0K
74PVHPVH CORPORATIONhistory →COM0.28%$13M109.5K
75CHTRCHARTER COMMUNICATIONS INC Nhistory →CL A0.28%$13M34.1K
76DUKDUKE ENERGY CORP NEWhistory →COM NEW0.28%$13M136.5K
77WBAWALGREENS BOOTS ALLIANCE INChistory →COM0.28%$13M506.1K
78GPNGLOBAL PMTS INChistory →COM0.27%$13M99.0K
79VZVERIZON COMMUNICATIONS INChistory →COM0.27%$13M333.2K
80LUVSOUTHWEST AIRLS COhistory →COM0.27%$13M433.7K
81MDLZMONDELEZ INTL INChistory →CL A0.26%$12M172.0K
82TE CONNECTIVITY LTDSHS0.26%$12M88.7K
83AVGOBROADCOM INChistory →COM0.26%$12M11.1K
84FDXFEDEX CORPhistory →COM0.26%$12M48.5K
85HRBBLOCK H & R INChistory →COM0.26%$12M250.4K
86ELVELEVANCE HEALTH INChistory →COM0.26%$12M25.5K
87RTXRTX CORPORATIONhistory →COM0.25%$12M142.5K
88MTBM & T BK CORPhistory →COM0.25%$12M85.6K
89PNCPNC FINL SVCS GROUP INChistory →COM0.25%$12M74.7K
90ANAUTONATION INChistory →COM0.24%$11M76.3K
91VICIVICI PPTYS INChistory →COM0.24%$11M355.4K
92AMGNAMGEN INChistory →COM0.24%$11M38.5K
93UNPUNION PAC CORPhistory →COM0.24%$11M45.1K
94CSCOCISCO SYS INChistory →COM0.23%$11M218.0K
95ABGASBURY AUTOMOTIVE GROUP INChistory →COM0.23%$11M48.9K
96AIGAMERICAN INTL GROUP INChistory →COM NEW0.23%$11M161.7K
97GPIGROUP 1 AUTOMOTIVE INChistory →COM0.23%$11M35.8K
98INCYINCYTE CORPhistory →COM0.23%$11M171.8K
99KVUEKENVUE INChistory →SHS0.23%$11M496.7K
100NSCNORFOLK SOUTHN CORPhistory →COM0.22%$11M44.5K

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 ↗

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 ↗.