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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
USIG icon
1
iShares Broad USD Investment Grade Corporate Bond ETF
USIG
$17.3B
$269M 11.61%
5,241,476
– –
LQD icon
2
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$32.7B
$121M 5.24%
1,111,374
+639,914
+136% +$70.6M
NVDA icon
3
NVIDIA
NVDA
$5.38T
$118M 5.12%
678,180
-123,578
-15% -$22.7M
AAPL icon
4
Apple
AAPL
$4.47T
$107M 4.64%
422,448
-77,305
-15% -$20.1M
MSFT icon
5
Microsoft
MSFT
$3.76T
$79.6M 3.44%
214,906
-39,433
-16% -$16.5M
IVV icon
6
iShares Core S&P 500 ETF
IVV
$904B
$73.3M 3.17%
112,291
-23,905
-18% -$16.3M
AMZN icon
7
Amazon
AMZN
$2.97T
$57.9M 2.5%
277,964
-50,921
-15% -$11.2M
GOOGL icon
8
Alphabet (Google) Class A
GOOGL
$4.33T
$48.4M 2.1%
168,437
-30,914
-16% -$9.71M
AVGO icon
9
Broadcom
AVGO
$2.04T
$41.4M 1.79%
133,824
-24,487
-15% -$8.06M
GOOG icon
10
Alphabet (Google) Class C
GOOG
$4.31T
$39.3M 1.7%
137,148
-25,233
-16% -$7.93M
META icon
11
Meta Platforms (Facebook)
META
$1.52T
$36.2M 1.57%
63,267
-11,627
-16% -$7.45M
SPBO icon
12
State Street SPDR Portfolio Corporate Bond ETF
SPBO
$2.09B
$31.6M 1.37%
1,089,068
– –
TSLA icon
13
Tesla
TSLA
$1.29T
$30.4M 1.31%
81,761
-14,714
-15% -$6.06M
VTC icon
14
Vanguard Total Corporate Bond ETF
VTC
$1.71B
$27.9M 1.21%
362,872
– –
BRK.B icon
15
Berkshire Hathaway Class B
BRK.B
$1.16T
$25.6M 1.11%
53,446
-9,819
-16% -$4.82M
JPM icon
16
JPMorgan Chase
JPM
$954B
$23.2M 1%
78,718
-16,556
-17% -$5.02M
LLY icon
17
Eli Lilly
LLY
$1.07T
$21.4M 0.92%
23,214
-4,268
-16% -$4.33M
XOM icon
18
ExxonMobil
XOM
$655B
$20.8M 0.9%
122,421
-26,257
-18% -$3.83M
IGSB icon
19
iShares 1-5 Year Investment Grade Corporate Bond ETF
IGSB
$23.3B
$17.6M 0.76%
+335,337
New +$17.7M
JNJ icon
20
Johnson & Johnson
JNJ
$627B
$17M 0.74%
69,731
-12,798
-16% -$2.98M
WMT icon
21
Walmart Inc
WMT
$887B
$15.7M 0.68%
126,069
-23,106
-15% -$2.84M
V icon
22
Visa
V
$679B
$14.7M 0.64%
48,778
-9,640
-17% -$3.1M
COST icon
23
Costco
COST
$420B
$12.8M 0.55%
12,862
-2,361
-16% -$2.3M
NFLX icon
24
Netflix
NFLX
$308B
$11.8M 0.51%
122,805
-22,525
-15% -$1.98M
MA icon
25
Mastercard
MA
$496B
$11.6M 0.5%
23,310
-4,580
-16% -$2.41M
1
2 3 4 5

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GWM
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SG
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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.