FY24-25 Investment Overview

Our Approach

We take seriously our responsibility to serve as good stewards of donors’ charitable assets, as well as our responsibility to serve the beneficiaries of those assets.

Investment Overview

Using a model created by the South Dakota Investment Council, the Foundation’s Investment Management Committee helps guide the asset allocation within the Long-Term Portfolio. 
 

Fiscal Year in Review

During fiscal year 2025, both domestic and international equity markets moved higher despite uncertainty regarding federal policy and geopolitical conflict abroad. At the helm of historic gains were technology companies, particularly those involved in the burgeoning artificial intelligence sector, which managed to pilot the S&P 500 to many all-time highs during the year. International equity returns were driven, in part, due to the weakening of the U.S. dollar and, despite the excellent returns in foreign markets during the past year, international equities still appear less expensive than domestic equities.

The Foundation’s Long-Term Portfolio did not adjust its tactical allocation during the fiscal year and performed competitively against its benchmarks. Over the course of the fiscal year, the portfolio incrementally adjusted its holdings to place a higher weight on domestic equities than international while simultaneously divesting from Chinese equities, better positioning the portfolio to capitalize on continued domestic gains.

Looking ahead, the Investment Management Committee will continue to inform decisions based on the SDIC model, employ a disciplined management strategy and focus on long-term results. The committee strives to identify strategic opportunities while remaining vigilant for the potentially adverse effects of inflation, interest rates and other economic indicators. 

Long-Term Portfolio Overview

Port 24

Current Portfolio Allocation

Tactical targets by asset class as of June 30, 2025.

Screenshot 2025 09 26 144021

Compound Annualized Returns

Long-term portfolio returns as of June 30, 2025.

Our Investment Management Committee

We're grateful to the following individuals who volunteer their time and expertise as current members of our Investment Management Committee:

  • Angeline Lavin (Chair), SFACF board member
  • Todd Ernst, SFACF board member
  • Suzanne Veenis, SFACF board member
  • Scott Van Horssen, Financial professional
  • Jarrod Edelen, Financial professional