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NDSIB

North Dakota State Investment Board Portfolio holdings

AUM $2.46B
This Fund
S&P 500
This Quarter Est. Return
-1.6%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$2.31B
AUM Growth
-$375M
Cap. Flow
-$283M
Cap. Flow %
-12.23%
Top 10 Hldgs %
41.31%
Holding
833
New
7
Increased
6
Reduced
734
Closed
81

Top Buys

Rank Stock Value
1
LQD icon
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
+$70.6M
2
IGSB icon
iShares 1-5 Year Investment Grade Corporate Bond ETF
IGSB
+$17.7M
3
WAT icon
Waters Corp
WAT
+$273K
4
DAR icon
Darling Ingredients
DAR
+$225K
5
ESI icon
Element Solutions
ESI
+$206K

Top Sells

Rank Stock Value
1
NVDA icon
NVIDIA
NVDA
+$22.7M
2
AAPL icon
Apple
AAPL
+$20.1M
3
MSFT icon
Microsoft
MSFT
+$16.5M
4
IVV icon
iShares Core S&P 500 ETF
IVV
+$16.3M
5
AMZN icon
Amazon
AMZN
+$11.2M

Sector Composition

Rank Sector Weight
1 Technology 24.23%
2 Financials 9.28%
3 Consumer Discretionary 7.93%
4 Communication Services 7.78%
5 Healthcare 7.43%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EXLS icon
776
EXL Service
EXLS
$5.2B
– –
-5,565
Closed -$236K
EXP icon
777
Eagle Materials
EXP
$6.47B
– –
-1,136
Closed -$235K
FAF icon
778
First American
FAF
$7.38B
– –
-3,438
Closed -$211K
FBIN icon
779
Fortune Brands Innovations
FBIN
$5.83B
– –
-4,313
Closed -$216K
FND icon
780
Floor & Decor
FND
$6.32B
– –
-3,765
Closed -$229K
FYBR
781
DELISTED
Frontier Communications
FYBR
– –
-8,436
Closed -$321K
G icon
782
Genpact
G
$5.7B
– –
-5,709
Closed -$267K
GPK icon
783
Graphic Packaging
GPK
$3.46B
– –
-10,331
Closed -$156K
GXO icon
784
GXO Logistics
GXO
$5.52B
– –
-3,959
Closed -$208K
H icon
785
Hyatt Hotels
H
$16.8B
– –
-1,424
Closed -$228K
HR icon
786
Healthcare Realty
HR
$6.58B
– –
-11,633
Closed -$197K
HRL icon
787
Hormel Foods
HRL
$13.4B
– –
-9,918
Closed -$235K
HRB icon
788
H&R Block
HRB
$6.87B
– –
-4,654
Closed -$203K
HXL icon
789
Hexcel
HXL
$7.74B
– –
-2,779
Closed -$205K
JEF icon
790
Jefferies Financial Group
JEF
$12.6B
– –
-5,434
Closed -$337K
JHG
791
DELISTED
Janus Henderson
JHG
– –
-4,391
Closed -$209K
KD icon
792
Kyndryl
KD
$2.85B
– –
-8,206
Closed -$218K
KMX icon
793
CarMax
KMX
$8.33B
– –
-5,245
Closed -$203K
LAD icon
794
Lithia Motors
LAD
$8.32B
– –
-900
Closed -$299K
LEA icon
795
Lear
LEA
$8.07B
– –
-1,875
Closed -$215K
LNC icon
796
Lincoln National
LNC
$8.44B
– –
-6,011
Closed -$268K
M icon
797
Macy's
M
$6.26B
– –
-9,547
Closed -$211K
MAT icon
798
Mattel
MAT
$4.19B
– –
-11,366
Closed -$226K
MIDD icon
799
Middleby
MIDD
$5.38B
– –
-1,785
Closed -$265K
MKTX icon
800
MarketAxess Holdings
MKTX
$5.72B
– –
-1,298
Closed -$235K
30 31
32
33 34

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M
Mirova Paris, France $2.46B AUM 11.42% 1-Year Est. Return
TW
Trajan Wealth Scottsdale, Arizona $2.48B AUM 17.44% 1-Year Est. Return
SG
Sourcerock Group Denver, Colorado $2.48B AUM 72.25% 1-Year Est. Return
FFA
First Foundation Advisors Irvine, California $2.48B AUM 18.56% 1-Year Est. Return
KFA
Krane Funds Advisors New York $2.44B AUM 12.99% 1-Year Est. Return
Q
QVR San Francisco, California $2.49B AUM 48.58% 1-Year Est. Return
PUI
Purpose Unlimited Inc Toronto $2.42B AUM
VF
Virtu Financial New York $2.41B AUM 48.35% 1-Year Est. Return

North Dakota State Investment Board's Q1 2026 Portfolio in Review

As of Q1 2026, North Dakota State Investment Board held 833 positions worth $2.31B, down 14% from $2.69B the previous quarter. Its ten largest holdings account for 41% of the portfolio.

North Dakota State Investment Board withdrew a net $283M in Q1 2026, closing 81 positions and reducing 734 holdings. Its most notable exit was Exact Sciences, an estimated $1.62M position sold in full.

By sector, the portfolio is most concentrated in Technology at 24% of assets, down from 27% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, North Dakota State Investment Board opened a new position in iShares 1-5 Year Investment Grade Corporate Bond ETF worth $17.6M.

  • North Dakota State Investment Board's largest Q1 2026 buy was iShares 1-5 Year Investment Grade Corporate Bond ETF: 335,337 shares worth $17.6M.
  • North Dakota State Investment Board added most to iShares iBoxx $ Investment Grade Corporate Bond ETF in Q1 2026, an estimated $70.6M increase.
  • North Dakota State Investment Board's biggest Q1 2026 reduction was NVIDIA, cutting an estimated $22.7M.
  • North Dakota State Investment Board fully exited Exact Sciences in Q1 2026, selling an estimated $1.62M.
  • North Dakota State Investment Board's ten largest holdings make up 41% of its $2.31B portfolio in Q1 2026.
  • North Dakota State Investment Board opened 7 new positions and closed 81 in Q1 2026.
  • North Dakota State Investment Board's portfolio value fell 14% quarter-over-quarter to $2.31B.

Based on North Dakota State Investment Board's 13F filing for Q1 2026, filed 8 May 2026.