SEC 13F Intelligence

Managers / Q1 2025 · view latest →

South Dakota Investment Council

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

Reported Value
$4.9B
Q1 2025
Positions
596
Filings on Record
31
2019–present window
Filed
May 5, 2025
original filing

Summary

South Dakota Investment Council reported $4.9B in U.S.-listed holdings across 596 positions for Q1 2025.

Its largest position, VWO, represents 13.0% of the portfolio.

Compared with Q4 2024, the fund opened 27 new positions and exited 25.

Portfolio Metrics

Turnover
+6.2%
vs prior filed quarter
Top-10 Concentration
+39.3%
share of reported value
Largest Position
+13.0%
Vanguard Intl Equity Index F
New / Exited
27 / 25
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: 80.4%ETP: 19.0%ADR: 0.6%Other: 0.0%REIT: 0.0%
  • Common Stock · 80.4% · $3.9B
  • ETP · 19.0% · $929M
  • ADR · 0.6% · $27M
  • Other · 0.0% · $2M
  • REIT · 0.0% · $727,000

Quarter-over-Quarter Changes full breakdown →

vs Q4 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
EQHEQUITABLE HLDGS INCNEW+162.4K162.4K+$8M$8M
CENXCENTURY ALUM CONEW+278.7K278.7K+$5M$5M
IBKRINTERACTIVE BROKERS GROUP INNEW+24.2K24.2K+$4M$4M
STLDSTEEL DYNAMICS INCNEW+28.1K28.1K+$4M$4M
ALLYALLY FINL INCNEW+92.4K92.4K+$3M$3M
ACTENACT HOLDINGS INCNEW+59.4K59.4K+$2M$2M
REGNREGENERON PHARMACEUTICALSNEW+2.4K2.4K+$1M$1M
NYTNEW YORK TIMES CONEW+27.2K27.2K+$1M$1M

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

Holdings — Q1 2025

497 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1VWOVANGUARD INTL EQUITY INDEX FFTSE EMR MKT ETF · TT WRLD ST ETF13.03%$637M14.05M
2AGGISHARES TRhistory →CORE US AGGBD ET5.96%$291M2.95M
3MSFTMICROSOFT CORPhistory →COM3.97%$194M516.8K
4AAPLAPPLE INChistory →COM3.89%$190M855.9K
5GOOGLALPHABET INCCAP STK CL A · CAP STK CL C2.64%$129M829.7K
6AMZNAMAZON COM INChistory →COM2.35%$115M604.0K
7VTOLBRISTOW GROUP INChistory →COM2.34%$114M3.62M
8NVDANVIDIA CORPORATIONhistory →COM2.20%$108M993.2K
9BRK/BBERKSHIRE HATHAWAY INC DELCL B NEW · CL A1.46%$71M122.1K
10METAMETA PLATFORMS INChistory →CL A1.44%$71M122.4K
11LLYELI LILLY & COhistory →COM1.07%$52M63.4K
12VVISA INChistory →COM CL A0.84%$41M117.9K
13HUMHUMANA INChistory →COM0.84%$41M156.0K
14JNJJOHNSON & JOHNSONhistory →COM0.78%$38M230.4K
15EGEVEREST GROUP LTDhistory →COM0.74%$36M99.2K
16COPCONOCOPHILLIPShistory →COM0.72%$35M334.2K
17PFEPFIZER INChistory →COM0.70%$34M1.35M
18UNHUNITEDHEALTH GROUP INChistory →COM0.70%$34M65.1K
19MAMASTERCARD INCORPORATEDhistory →CL A0.67%$33M60.1K
20EXMOCEXXON MOBIL CORPhistory →COM0.66%$32M270.0K
21HESHESS CORPhistory →COM0.63%$31M191.6K
22CMCSACOMCAST CORP NEWhistory →CL A0.59%$29M780.0K
23WFCWELLS FARGO CO NEWhistory →COM0.58%$29M397.6K
24DGDOLLAR GEN CORP NEWhistory →COM0.57%$28M316.6K
25USBUS BANCORP DELhistory →COM NEW0.57%$28M656.2K
26RGAREINSURANCE GRP OF AMERICA Ihistory →COM NEW0.56%$27M139.0K
27JPMJPMORGAN CHASE & CO.history →COM0.54%$26M108.0K
28CSCOCISCO SYS INChistory →COM0.54%$26M426.6K
29BMYBRISTOL-MYERS SQUIBB COhistory →COM0.54%$26M431.3K
30TGTTARGET CORPhistory →COM0.54%$26M251.2K
31DISDISNEY WALT COhistory →COM0.48%$24M238.6K
32CCITIGROUP INChistory →COM NEW0.48%$24M331.5K
33PYPLPAYPAL HLDGS INChistory →COM0.48%$23M357.9K
34MDTMEDTRONIC PLChistory →SHS0.46%$23M250.5K
35SLBSCHLUMBERGER LTDhistory →COM STK0.46%$22M536.8K
36RNRRENAISSANCERE HLDGS LTDhistory →COM0.44%$22M89.7K
37OXYOCCIDENTAL PETE CORPhistory →COM0.44%$21M433.2K
38EOGEOG RES INChistory →COM0.44%$21M166.2K
39HALHALLIBURTON COhistory →COM0.42%$20M802.9K
40MR COOPER GROUP INCCOM0.40%$20M163.9K
41GPNGLOBAL PMTS INChistory →COM0.39%$19M195.8K
42LKQLKQ CORPhistory →COM0.39%$19M449.9K
43MRKMERCK & CO INChistory →COM0.39%$19M213.2K
44CNCCENTENE CORP DELhistory →COM0.39%$19M313.9K
45AVGOBROADCOM INChistory →COM0.39%$19M113.7K
46SOLVSOLVENTUM CORPhistory →COM SHS0.38%$19M246.7K
47UNMUNUM GROUPhistory →COM0.38%$19M229.0K
48ACGLARCH CAP GROUP LTDhistory →ORD0.38%$18M190.7K
49STZCONSTELLATION BRANDS INChistory →CL A0.37%$18M99.4K
50APAAPA CORPORATIONhistory →COM0.37%$18M851.3K
51FDXFEDEX CORPhistory →COM0.36%$18M72.7K
52CHTRCHARTER COMMUNICATIONS INC Nhistory →CL A0.36%$18M47.7K
53AMATAPPLIED MATLS INChistory →COM0.36%$17M119.8K
54AMDADVANCED MICRO DEVICES INChistory →COM0.35%$17M168.6K
55EWEDWARDS LIFESCIENCES CORPhistory →COM0.34%$17M232.0K
56LYBLYONDELLBASELL INDUSTRIES Nhistory →SHS - A -0.34%$17M238.2K
57DUKDUKE ENERGY CORP NEWhistory →COM NEW0.34%$17M135.6K
58DEDEERE & COhistory →COM0.33%$16M34.9K
59CVSCVS HEALTH CORPhistory →COM0.33%$16M237.2K
60TXNTEXAS INSTRS INChistory →COM0.32%$16M86.8K
61VZVERIZON COMMUNICATIONS INChistory →COM0.32%$16M342.3K
62SHELSHELL PLChistory →SPON ADS0.32%$16M211.5K
63GILDGILEAD SCIENCES INChistory →COM0.31%$15M136.4K
64FANGDIAMONDBACK ENERGY INChistory →COM0.31%$15M95.5K
65CHRDCHORD ENERGY CORPORATIONhistory →COM NEW0.31%$15M135.4K
66FOXAFOX CORPhistory →CL A COM0.31%$15M268.9K
67MTDRMATADOR RES COhistory →COM0.31%$15M292.8K
68PMPHILIP MORRIS INTL INChistory →COM0.30%$15M93.5K
69TSLATESLA INChistory →COM0.29%$14M55.5K
70AIGAMERICAN INTL GROUP INChistory →COM NEW0.29%$14M160.5K
71UPSUNITED PARCEL SERVICE INChistory →CL B0.28%$14M123.0K
72DINOHF SINCLAIR CORPhistory →COM0.27%$13M401.1K
73CSXCSX CORPhistory →COM0.27%$13M448.1K
74BBWIBATH & BODY WORKS INChistory →COM0.27%$13M433.3K
75ALKALASKA AIR GROUP INChistory →COM0.27%$13M264.9K
76FISFIDELITY NATL INFORMATION SVhistory →COM0.26%$13M172.4K
77MOALTRIA GROUP INChistory →COM0.26%$13M214.1K
78VRTXVERTEX PHARMACEUTICALS INChistory →COM0.26%$13M26.4K
79ACNACCENTURE PLC IRELANDhistory →SHS CLASS A0.26%$13M40.3K
80TELTE CONNECTIVITY PLChistory →ORD SHS0.25%$12M88.0K
81TFCTRUIST FINL CORPhistory →COM0.25%$12M296.6K
82BAXBAXTER INTL INChistory →COM0.25%$12M355.0K
83JBLJABIL INChistory →COM0.25%$12M89.3K
84MUMICRON TECHNOLOGY INChistory →COM0.25%$12M139.6K
85GDGENERAL DYNAMICS CORPhistory →COM0.25%$12M44.5K
86FSLRFIRST SOLAR INChistory →COM0.24%$12M93.4K
87BNYBANK NEW YORK MELLON CORPhistory →COM0.24%$12M140.7K
88GPIGROUP 1 AUTOMOTIVE INChistory →COM0.24%$12M30.9K
89ANAUTONATION INChistory →COM0.24%$12M72.2K
90ADBEADOBE INChistory →COM0.23%$11M29.7K
91ELVELEVANCE HEALTH INChistory →COM0.23%$11M26.1K
92IQVIQVIA HLDGS INChistory →COM0.23%$11M63.9K
93LRCXLAM RESEARCH CORPhistory →COM NEW0.23%$11M153.1K
94VEREN INCCOM NEW0.23%$11M1.68M
95TAT&T INChistory →COM0.22%$11M386.2K
96RTXRTX CORPORATIONhistory →COM0.22%$11M81.7K
97MCHPMICROCHIP TECHNOLOGY INC.history →COM0.22%$11M223.1K
98MDLZMONDELEZ INTL INChistory →CL A0.22%$11M157.0K
99SWKSTANLEY BLACK & DECKER INChistory →COM0.22%$11M138.3K
100STTSTATE STR CORPhistory →COM0.22%$11M117.9K

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 ↗.