North Dakota State Investment Board

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 8, 2026), North Dakota State Investment Board reported 752 stock positions worth $2.3 billion. Its top holding was iShares Broad Usd Investment (USIG) at 11.6% of the portfolio, followed by Ishr Ibx Usd Invgd CB ETF-Ui (LQD, 5.2%) and Nvidia (NVDA, 5.1%). Compared with Q4 2025, it opened 7 new positions, sold out of 81, added to 6 and reduced 734. The biggest buy was Ishr Ibx Usd Invgd CB ETF-Ui (LQD, shares +136%) and the biggest sale Microsoft (MSFT, shares −16%).

Most Recent 13F
Q2 2026
Location
BISMARCK, ND
CIK
0002064039
Portfolio Value
$2.3B (Q1 2026)
SEC Filing
0002064039-26-000004 ↗ filed May 8, 2026

Holdings Value

0$1.0B$2.0B$3.0B Q4 2025: $2.7B Q4 2025 Q1 2026: $2.3B $2.3B Q1 2026 Q2 2026: $2.5B Q2 2026

Holdings 752 stocks · $2.3B
USIG iShares Broad Usd Investment 11.61% 5,241,476 $268.5M No change
LQD Ishr Ibx Usd Invgd CB ETF-Ui 5.24% 1,111,374 $121.1M Add +135.7%
NVDA Nvidia Corp. 5.12% 678,180 $118.3M Reduce -15.4%
AAPL Apple Inc. 4.64% 422,448 $107.2M Reduce -15.5%
MSFT Microsoft Corp. 3.44% 214,906 $79.6M Reduce -15.5%
IVV iShares Core S&P 500 ETF 3.17% 112,291 $73.3M Reduce -17.6%
AMZN Amazon.com Inc. 2.50% 277,964 $57.9M Reduce -15.5%
GOOGL Alphabet Inc. Class A 2.10% 168,437 $48.4M Reduce -15.5%
AVGO Broadcom Inc. 1.79% 133,824 $41.4M Reduce -15.5%
GOOG Alphabet Inc. Class C 1.70% 137,148 $39.3M Reduce -15.5%
META Meta Platforms Inc. Class A 1.57% 63,267 $36.2M Reduce -15.5%
SPBO SS SPDR P Corp. Bond ETF 1.37% 1,089,068 $31.6M No change
TSLA Tesla Inc. 1.31% 81,761 $30.4M Reduce -15.3%
VTC Vanguard Total Corporate BND 1.21% 362,872 $27.9M No change
BRK.B Berkshire Hathaway Inc. Class B 1.11% 53,446 $25.6M Reduce -15.5%
JPM JPMorgan Chase & Co. 1.00% 78,718 $23.2M Reduce -17.4%
LLY Eli Lilly & Co. 0.92% 23,214 $21.4M Reduce -15.5%
XOM Exxon Mobil Corp. 0.90% 122,421 $20.8M Reduce -17.7%
IGSB iShares 1-5Y Inv Grade Corp. 0.76% 335,337 $17.6M New
JNJ Johnson & Johnson 0.74% 69,731 $17.0M Reduce -15.5%
WMT Walmart Inc. 0.68% 126,069 $15.7M Reduce -15.5%
V Visa Inc. Class A 0.64% 48,778 $14.7M Reduce -16.5%
COST Costco Wholesale Corp. 0.55% 12,862 $12.8M Reduce -15.5%
NFLX Netflix Inc. 0.51% 122,805 $11.8M Reduce -15.5%
MA Mastercard Inc. Class A 0.50% 23,310 $11.6M Reduce -16.4%
IGIB iShares 5-10Y Inv Grade Corp. 0.49% 212,002 $11.3M No change
CVX Chevron Corp. 0.49% 54,288 $11.2M Reduce -17.6%
ABBV Abbvie Inc. 0.48% 51,334 $11.2M Reduce -15.5%
MU Micron Technology Inc. 0.47% 32,376 $10.9M Reduce -15.5%
PG The Procter & Gamble Co. 0.43% 68,063 $9.8M Reduce -15.5%
CAT Caterpillar Inc. 0.41% 13,417 $9.5M Reduce -15.5%
AMD Advanced Micro Devices 0.41% 46,665 $9.5M Reduce -15.5%
HD Home Depot Inc. 0.41% 28,851 $9.5M Reduce -15.5%
PLTR Palantir Technologies Inc. Class A 0.41% 64,372 $9.4M Reduce -15.3%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.41% 192,684 $9.4M Reduce -16.7%
CSCO Cisco Systems Inc. 0.40% 117,692 $9.1M Reduce -15.3%
MRK Merck & Co. Inc. 0.38% 73,011 $8.8M Reduce -15.5%
KO The Coca-Cola Co. 0.37% 112,688 $8.6M Reduce -15.5%
GE General Electric filed as GE AEROSPACE 0.37% 30,141 $8.6M Reduce -16.4%
AMAT Applied Materials Inc. 0.34% 23,241 $7.9M Reduce -15.5%
LRCX Lam Research Corp. 0.34% 36,382 $7.8M Reduce -17.1%
RTX RTX Corp. 0.32% 38,768 $7.5M Reduce -15.5%
PM Philip Morris International 0.32% 45,145 $7.5M Reduce -15.5%
WFC Wells Fargo & Co. 0.31% 91,089 $7.3M Reduce -17.7%
GS Goldman Sachs Group Inc. 0.31% 8,514 $7.2M Reduce -17.4%
ORCL Oracle Corp. 0.31% 48,777 $7.2M Reduce -14.1%
UNH Unitedhealth Group Inc. 0.31% 26,368 $7.1M Reduce -15.5%
GEV GE Vernova Inc. 0.30% 7,923 $6.9M Reduce -15.5%
LIN Linde PLC 0.29% 13,607 $6.7M Reduce -15.5%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.28% 26,960 $6.5M Reduce -15.5%
MCD McDonald's Corp. 0.28% 20,714 $6.4M Reduce -15.5%
VZ Verizon Communications Inc. 0.27% 123,599 $6.2M Reduce -15.4%
PEP Pepsico Inc. 0.27% 39,707 $6.2M Reduce -15.5%
C Citigroup Inc. 0.25% 51,411 $5.8M Reduce -17.9%
T AT&T Inc. 0.25% 200,266 $5.8M Reduce -16.7%
INTC Intel Corp. 0.24% 127,861 $5.6M Reduce -14.7%
KLAC KLA Corp. 0.24% 3,814 $5.6M Reduce -16.4%
NEE Nextera Energy Inc. 0.24% 60,452 $5.6M Reduce -14.5%
AMGN Amgen Inc. 0.24% 15,944 $5.6M Reduce -15.3%
IGLB iShares 10+ Year Inv GR Corp. 0.24% 111,002 $5.5M No change
MS Morgan Stanley 0.24% 33,363 $5.5M Reduce -15.4%
GILD Gilead Sciences Inc. 0.23% 38,687 $5.4M Reduce -14.9%
TMO Thermo Fisher Scientific Inc. 0.23% 10,940 $5.4M Reduce -15.5%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.22% 32,403 $5.2M Reduce -15.5%
PFE Pfizer Inc. 0.22% 183,524 $5.2M Reduce -14.6%
ABT Abbott Laboratories 0.22% 50,175 $5.2M Reduce -15.5%
TXN Texas Instruments Inc. 0.22% 26,335 $5.1M Reduce -15.5%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.22% 52,475 $5.1M Reduce -15.5%
CRM Salesforce Inc. 0.22% 27,054 $5.1M Reduce -15.5%
COP Conocophillips 0.21% 36,229 $4.8M Reduce -16.6%
AXP American Express Co. 0.20% 15,649 $4.7M Reduce -16.9%
ISRG Intuitive Surgical Inc. 0.20% 10,228 $4.7M Reduce -16.4%
QCOM Qualcomm Inc. 0.20% 36,440 $4.7M Reduce -14.2%
SCHW Schwab (charles) Corp. 0.20% 49,453 $4.6M Reduce -15.5%
ADI Analog Devices Inc. 0.20% 14,377 $4.6M Reduce -15.5%
WDC Western Digital Corp. 0.19% 16,648 $4.5M Reduce -12.5%
APH Amphenol Corp. Class A 0.19% 35,357 $4.5M Reduce -14.5%
BKNG Booking Holdings Inc. 0.19% 1,054 $4.4M Reduce -14.5%
BA The Boeing Co. 0.19% 21,660 $4.3M Reduce -15.5%
BLK BlackRock Inc. 0.18% 4,420 $4.3M Reduce -15.7%
UNP Union Pacific Corp. 0.18% 17,330 $4.2M Reduce -15.5%
UBER Uber Technologies Inc. 0.18% 58,324 $4.2M Reduce -15.4%
HON Honeywell International Inc. 0.18% 18,423 $4.2M Reduce -15.5%
ETN Eaton Corp. PLC 0.18% 11,356 $4.1M Reduce -15.5%
DE Deere & Co. 0.17% 7,078 $4.0M Reduce -15.5%
WELL Welltower Inc. 0.17% 19,920 $3.9M Reduce -13.2%
LOW Lowe's Cos Inc. 0.17% 16,664 $3.9M Reduce -15.3%
SPGI S&P Global Inc. 0.16% 8,782 $3.7M Reduce -16.6%
BMY Bristol-Myers Squibb Co. 0.16% 61,512 $3.7M Reduce -15.1%
ANET Arista Networks Inc. 0.16% 29,884 $3.7M Reduce -15.5%
LMT Lockheed Martin Corp. 0.16% 5,975 $3.6M Reduce -16.6%
PANW Palo Alto Networks Inc. 0.16% 22,525 $3.6M Add +0.0%
ACN Accenture PLC Class A 0.16% 18,134 $3.6M Reduce -15.5%
MCK McKesson Corp. 0.16% 4,143 $3.6M Reduce -14.4%
PLD Prologis Inc. 0.15% 26,871 $3.6M Reduce -15.5%
DHR Danaher Corp. 0.15% 18,241 $3.5M Reduce -16.6%
CB Chubb Ltd. 0.15% 10,588 $3.5M Reduce -17.1%
NEM Newmont Corp. 0.15% 31,827 $3.4M Reduce -15.5%
INTU Intuit Inc. 0.15% 7,910 $3.4M Reduce -15.5%
PGR Progressive Corp. 0.15% 16,976 $3.4M Reduce -15.5%

Show all 752 holdings

Portfolio Sells Q4 2025 → Q1 2026
MSFT Microsoft Corp. Reduce -15.5% 3.44% −1.14
NVDA Nvidia Corp. Reduce -15.4% 5.12% −0.45
AAPL Apple Inc. Reduce -15.5% 4.64% −0.42
AMZN Amazon.com Inc. Reduce -15.5% 2.50% −0.32
TSLA Tesla Inc. Reduce -15.3% 1.31% −0.30
IVV iShares Core S&P 500 ETF Reduce -17.6% 3.17% −0.30
META Meta Platforms Inc. Class A Reduce -15.5% 1.57% −0.27
AVGO Broadcom Inc. Reduce -15.5% 1.79% −0.25
GOOGL Alphabet Inc. Class A Reduce -15.5% 2.10% −0.23
GOOG Alphabet Inc. Class C Reduce -15.5% 1.70% −0.19
LLY Eli Lilly & Co. Reduce -15.5% 0.92% −0.18
JPM JPMorgan Chase & Co. Reduce -17.4% 1.00% −0.14
V Visa Inc. Class A Reduce -16.5% 0.64% −0.12
ORCL Oracle Corp. Reduce -14.1% 0.31% −0.10
CRM Salesforce Inc. Reduce -15.5% 0.22% −0.10
PLTR Palantir Technologies Inc. Class A Reduce -15.3% 0.41% −0.10
MA Mastercard Inc. Class A Reduce -16.4% 0.50% −0.09
APP AppLovin Corp. Class A Reduce -15.2% 0.12% −0.09
INTU Intuit Inc. Reduce -15.5% 0.15% −0.08
BRK.B Berkshire Hathaway Inc. Class B Reduce -15.5% 1.11% −0.08
UNH Unitedhealth Group Inc. Reduce -15.5% 0.31% −0.07
WFC Wells Fargo & Co. Reduce -17.7% 0.31% −0.07
IBM Intl Business Machines Corp. Reduce -15.5% 0.28% −0.07
QCOM Qualcomm Inc. Reduce -14.2% 0.20% −0.07
BAC Bank of America Corp. Reduce -16.7% 0.41% −0.07
NOW ServiceNow Inc. Reduce -15.5% 0.14% −0.07
BSX Boston Scientific Corp. Reduce -15.5% 0.12% −0.06
ADBE Adobe Inc. Reduce -16.9% 0.13% −0.06
EXAS Exact Sciences Corp. Sold out 0.00% −0.06
ACN Accenture PLC Class A Reduce -15.5% 0.16% −0.06
AXP American Express Co. Reduce -16.9% 0.20% −0.05
ABT Abbott Laboratories Reduce -15.5% 0.22% −0.05
ISRG Intuitive Surgical Inc. Reduce -16.4% 0.20% −0.05
BKNG Booking Holdings Inc. Reduce -14.5% 0.19% −0.05
COF Capital One Financial Corp. Reduce -15.5% 0.14% −0.05
TMO Thermo Fisher Scientific Inc. Reduce -15.5% 0.23% −0.05
DIS The Walt Disney Co. Reduce -15.5% 0.22% −0.04
GE General Electric Reduce -16.4% 0.37% −0.04
SPGI S&P Global Inc. Reduce -16.6% 0.16% −0.04
HOOD Robinhood Markets Inc. Class A Reduce -15.4% 0.06% −0.04
DASH DoorDash Inc. Class A Reduce -14.7% 0.07% −0.04
SNOW Snowflake Inc. Reduce -10.9% 0.09% −0.04
BX Blackstone Inc. Reduce -14.4% 0.11% −0.04
DHR Danaher Corp. Reduce -16.6% 0.15% −0.04
ABBV Abbvie Inc. Reduce -15.5% 0.48% −0.03
KKR KKR & Co. Inc. Reduce -15.5% 0.08% −0.03
CEG Constellation Energy Reduce -15.5% 0.11% −0.03
ADP Automatic Data Processing Reduce -15.6% 0.10% −0.03
AMD Advanced Micro Devices Reduce -15.5% 0.41% −0.03
FLUT Flutter Entertainment PLC-Di Reduce -26.0% 0.02% −0.03

Portfolio Buys Q4 2025 → Q1 2026
LQD Ishr Ibx Usd Invgd CB ETF-Ui Add +135.7% 5.24% +3.31
IGSB iShares 1-5Y Inv Grade Corp. New 0.76% +0.76
FITB Fifth Third Bancorp Add +14.7% 0.05% +0.01
DAR Darling Ingredients Inc. New 0.01% +0.01
CHRD Chord Energy Corp. New 0.01% +0.01
ESI Element Solutions Inc. New 0.01% +0.01
TIGO Millicom Intl Cellular S.A. New 0.01% +0.01
MTDR Matador Resources Co. New 0.01% +0.01
CE Celanese Corp. New 0.01% +0.01
WAT Waters Corp. Add +39.0% 0.04% +0.01
RGLD Royal Gold Inc. Add +2.2% 0.03% +0.01
HBAN Huntington Bancshares Inc. Add +12.3% 0.04% +0.01
PANW Palo Alto Networks Inc. Add +0.0% 0.16% +0.00

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 826$2.5BNVDA, IVV, LQD, AAPL, MSFT
Q1 2026 752$2.3BUSIG, LQD, NVDA, AAPL, MSFT
Q4 2025 826$2.7BUSIG, NVDA, AAPL, MSFT, IVV