South Dakota Investment Council Q4 2025 Filing

Filed February 12, 2026

Portfolio Value

$5.3B

Holdings

606

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (606 positions)

#	Stock	Shares	Value	% Portfolio
1	VWOVANGUARD INTL EQUITY INDEX F	10,728,387	$576.0M	10.97%
2	AGGISHARES TR	2,821,235	$281.0M	5.35%
3	MSFTMICROSOFT CORP	450,592	$217.0M	4.13%
4	NVDANVIDIA CORPORATION	1,123,662	$209.0M	3.98%
5	AAPLAPPLE INC	752,718	$204.0M	3.88%
6	VCSHVANGUARD SHORT-TERM CORPORAT	1,638,348	$130.0M	2.48%
7	AMZNAMAZON COM INC	553,484	$127.0M	2.42%
8	GOOGLALPHABET INC	351,524	$110.0M	2.09%
9	VTOLBRISTOW GROUP INC	2,767,745	$101.0M	1.92%
10	GOOGALPHABET INC	268,790	$84.0M	1.60%
11	METAMETA PLATFORMS INC	116,034	$76.0M	1.45%
12	USHYISHARES TR	1,926,000	$72.0M	1.37%
13	BRK/BBERKSHIRE HATHAWAY INC DEL	109,756	$55.0M	1.05%
14	UNHUNITEDHEALTH GROUP INC	163,039	$53.0M	1.01%
15	LLYELI LILLY & CO	47,837	$51.0M	0.97%
16	HUMHUMANA INC	161,383	$41.0M	0.78%
17	ELVELEVANCE HEALTH INC FORMERLY	112,298	$39.0M	0.74%
18	USBUS BANCORP DEL	728,211	$38.0M	0.72%
19	AVGOBROADCOM INC	106,282	$36.0M	0.69%
20	VVISA INC	97,870	$34.0M	0.65%
21	BBWIBATH & BODY WORKS INC	1,684,793	$33.0M	0.63%
22	COPCONOCOPHILLIPS	342,552	$32.0M	0.61%
23	REEVEREST GROUP LTD	93,761	$31.0M	0.59%
24	PFEPFIZER INC	1,204,986	$30.0M	0.57%
25	CMCSACOMCAST CORP NEW	933,463	$27.0M	0.51%
26	MAMASTERCARD INCORPORATED	47,204	$26.0M	0.50%
27	UPSUNITED PARCEL SERVICE INC	270,350	$26.0M	0.50%
28	RGAREINSURANCE GRP OF AMERICA I	123,648	$25.0M	0.48%
29	XOMEXXON MOBIL CORP	202,282	$24.0M	0.46%
30	CNCCENTENE CORP DEL	585,674	$24.0M	0.46%
31	AMDADVANCED MICRO DEVICES INC	112,149	$24.0M	0.46%
32	TXNTEXAS INSTRS INC	134,713	$23.0M	0.44%
33	WFCWELLS FARGO CO NEW	255,861	$23.0M	0.44%
34	AMATAPPLIED MATLS INC	93,049	$23.0M	0.44%
35	TRVCCITIGROUP INC	181,348	$21.0M	0.40%
36	ACGLARCH CAP GROUP LTD	223,271	$21.0M	0.40%
37	SLBSLB LIMITED	561,453	$21.0M	0.40%
38	DYHTARGET CORP	221,871	$21.0M	0.40%
39	MRKMERCK & CO INC	202,458	$21.0M	0.40%
40	TSLATESLA INC	46,237	$20.0M	0.38%
41	STZCONSTELLATION BRANDS INC	147,727	$20.0M	0.38%
42	ALKALASKA AIR GROUP INC	408,563	$20.0M	0.38%
43	EOGEOG RES INC	196,834	$20.0M	0.38%
44	IQVIQVIA HLDGS INC	91,541	$20.0M	0.38%
45	APAAPA CORPORATION	807,159	$19.0M	0.36%
46	TMOTHERMO FISHER SCIENTIFIC INC	34,018	$19.0M	0.36%
47	DISDISNEY WALT CO	168,349	$19.0M	0.36%
48	HALHALLIBURTON CO	686,977	$19.0M	0.36%
49	PYPLPAYPAL HLDGS INC	327,626	$19.0M	0.36%
50	OXYOCCIDENTAL PETE CORP	447,851	$18.0M	0.34%
51	DGDOLLAR GEN CORP NEW	135,626	$18.0M	0.34%
52	BMYBRISTOL-MYERS SQUIBB CO	347,405	$18.0M	0.34%
53	JNJJOHNSON & JOHNSON	84,539	$17.0M	0.32%
54	MOHMOLINA HEALTHCARE INC	103,322	$17.0M	0.32%
55	LKQ1LKQ CORP	575,570	$17.0M	0.32%
56	JPMJPMORGAN CHASE & CO.	55,606	$17.0M	0.32%
57	ZBHZIMMER BIOMET HOLDINGS INC	184,744	$16.0M	0.30%
58	LBRTLIBERTY ENERGY INC	906,608	$16.0M	0.30%
59	CSXCSX CORP	465,233	$16.0M	0.30%
60	CVSCVS HEALTH CORP	189,769	$15.0M	0.29%
61	DHRDANAHER CORPORATION	68,249	$15.0M	0.29%
62	ZTSZOETIS INC	124,585	$15.0M	0.29%
63	FDXFEDEX CORP	53,847	$15.0M	0.29%
64	SWSMURFIT WESTROCK PLC	390,795	$15.0M	0.29%
65	EQHEQUITABLE HLDGS INC	319,156	$15.0M	0.29%
66	CVXCHEVRON CORP NEW	100,842	$15.0M	0.29%
67	FANGDIAMONDBACK ENERGY INC	103,771	$15.0M	0.29%
68	SOLVSOLVENTUM CORP	200,891	$15.0M	0.29%
69	ACNACCENTURE PLC IRELAND	59,101	$15.0M	0.29%
70	FSLRFIRST SOLAR INC	59,556	$15.0M	0.29%
71	RNRRENAISSANCERE HLDGS LTD	50,441	$14.0M	0.27%
72	PVHPVH CORPORATION	218,952	$14.0M	0.27%
73	CHTRCHARTER COMMUNICATIONS INC N	69,137	$14.0M	0.27%
74	DUKDUKE ENERGY CORP NEW	124,941	$14.0M	0.27%
75	ADBEADOBE INC	42,749	$14.0M	0.27%
76	7HPHP INC	603,819	$13.0M	0.25%
77	GPNGLOBAL PMTS INC	176,556	$13.0M	0.25%
78	TFCTRUIST FINL CORP	281,234	$13.0M	0.25%
79	DEDEERE & CO	29,340	$13.0M	0.25%
80	MDTMEDTRONIC PLC	139,367	$13.0M	0.25%
81	LOWLOWES COS INC	55,160	$13.0M	0.25%
82	UNMUNUM GROUP	173,957	$13.0M	0.25%
83	CSCOCISCO SYS INC	172,500	$13.0M	0.25%
84	MTDRMATADOR RES CO	315,830	$13.0M	0.25%
85	RTXRTX CORPORATION	70,535	$12.0M	0.23%
86	GEHCGE HEALTHCARE TECHNOLOGIES I	148,812	$12.0M	0.23%
87	CENXCENTURY ALUM CO	317,361	$12.0M	0.23%
88	BACVERIZON COMMUNICATIONS INC	306,479	$12.0M	0.23%
89	CHRDCHORD ENERGY CORPORATION	138,381	$12.0M	0.23%
90	MUMICRON TECHNOLOGY INC	43,039	$12.0M	0.23%
91	QCOMQUALCOMM INC	70,676	$12.0M	0.23%
92	LYBLYONDELLBASELL INDUSTRIES N	296,137	$12.0M	0.23%
93	HONHONEYWELL INTL INC	63,411	$12.0M	0.23%
94	LRCXLAM RESEARCH CORP	75,469	$12.0M	0.23%
95	PGPROCTER AND GAMBLE CO	88,967	$12.0M	0.23%
96	MCHPMICROCHIP TECHNOLOGY INC.	177,644	$11.0M	0.21%
97	LMTLOCKHEED MARTIN CORP	23,100	$11.0M	0.21%
98	UNPUNION PAC CORP	48,019	$11.0M	0.21%
99	FISVFISERV INC	176,267	$11.0M	0.21%
100	PEPPEPSICO INC	74,834	$10.0M	0.19%

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