1y return+21.3%S&P 500 +20.9%
3y return+49.8%S&P 500 +68.5%
5y return+53.1%S&P 500 +74.5%
10y return+211.1%S&P 500 +256.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since June 30, 2016: $311 against $357 in the S&P 500.2
South Dakota Investment CouncilS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| VWOVanguard Intl Equity Index F | $617K | 10.6% | −2.9% |
| AGGIshares Tr | $342K | 5.9% | +5.5% |
| NVDANvidia Corporation | $268K | 4.6% | +8.5% |
| AAPLApple Inc | $216K | 3.7% | |
| VCSHVanguard Short-term Corporat | $186K | 3.2% | +31.9% |
| MSFTMicrosoft Corp | $171K | 2.9% | |
| AMZNAmazon Com Inc | $135K | 2.3% | −2.5% |
| GOOGLAlphabet Inc | $109K | 1.9% | −6.1% |
| GOOGAlphabet Inc | $93K | 1.6% | −2.3% |
| USHYIshares Tr | $74K | 1.3% | +2.2% |
| METAMeta Platforms Inc | $68K | 1.2% | +3.9% |
| VTOLBristow Group Inc | $66K | 1.1% | −18.4% |
| AVGOBroadcom Inc | $61K | 1.1% | +23.2% |
| AMDAdvanced Micro Devices Inc | $56K | 1.0% | −3.6% |
| BRK/BBerkshire Hathaway Inc Del | $54K | 0.9% | −2.2% |
| AMATApplied Matls Inc | $50K | 0.9% | −14.2% |
| LLYEli Lilly & Co | $50K | 0.8% | −8.6% |
| BBWIBath & Body Works Inc | $44K | 0.8% | +7.8% |
| ZTSZoetis Inc | $42K | 0.7% | +167.2% |
| USBUs Bancorp | $42K | 0.7% | −3.2% |
| UNHUnitedhealth Group Inc | $39K | 0.7% | −45.8% |
| ELVElevance Health Inc Formerly | $39K | 0.7% | −16.8% |
| Everest Group LtdCUSIP G3223R108 | $37K | 0.6% | +1.0% |
| MUMicron Technology Inc | $36K | 0.6% | −17.7% |
| TXNTexas Instrs Inc | $34K | 0.6% | −14.2% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| NVDANvidia Corporation | June 30, 2020 | +2006.7% | $268K |
| AVGOBroadcom Inc | June 30, 2020 | +1096.9% | $61K |
| AMATApplied Matls Inc | June 30, 2020 | +1096.1% | $50K |
| LLYEli Lilly & Co | June 30, 2020 | +630.6% | $50K |
| AMDAdvanced Micro Devices Inc | March 31, 2022 | +431.3% | $56K |
| LRCXLam Research Corp | September 30, 2024 | +431.0% | $32K |
| GOOGLAlphabet Inc | June 30, 2020 | +404.0% | $109K |
| GOOGAlphabet Inc | June 30, 2020 | +399.9% | $93K |
| WFCWells Fargo & Co | June 30, 2020 | +222.8% | $26K |
| AAPLApple Inc | June 30, 2020 | +217.3% | $216K |
Sold off last quarter
- Exxon Mobil CorpCUSIP 30231G102 was $26K
- Honeywell Intl IncCUSIP 438516106 was $14K
- COHRCoherent Corp was $5,003
- CASYCaseys Gen Stores Inc was $4,791
- GVAGranite Constr Inc was $4,692
- MTCHMatch Group Inc New was $3,252
- Masimo CorpCUSIP 574795100 was $3,125
- PLMRPalomar Hldgs Inc was $2,548
- RMBSRambus Inc Del was $2,462
- CRKComstock Res Inc was $2,144
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +10.0% | +14.8% |
| March 31, 2026 | −0.6% | −4.6% |
| December 31, 2025 | +3.0% | +2.4% |
| September 30, 2025 | +7.7% | +7.8% |
| June 30, 2025 | +6.2% | +10.5% |
| March 31, 2025 | −2.8% | −4.6% |
| December 31, 2024 | −1.6% | +2.1% |
| September 30, 2024 | +5.0% | +5.4% |
| June 30, 2024 | +1.4% | +4.0% |
| March 31, 2024 | +7.3% | +10.0% |
| December 31, 2023 | +9.2% | +11.2% |
| September 30, 2023 | −2.6% | −3.6% |
| June 30, 2023 | +6.8% | +8.3% |
| March 31, 2023 | +3.7% | +7.0% |
| December 31, 2022 | +8.9% | +7.1% |
| September 30, 2022 | −6.2% | −5.3% |
| June 30, 2022 | −14.1% | −16.5% |
| March 31, 2022 | +0.2% | −4.9% |
| December 31, 2021 | +6.7% | +10.7% |
| September 30, 2021 | −1.7% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: South Dakota Investment Council Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1538846&type=13F-HR&dateb=&owner=include&count=40CIK 1538846
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1538846/000153884626000004/Filed August 11, 2026 · accession 0001538846-26-000004