Asset Manager
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North Dakota State Investment Board
1600 EAST CENTURY AVENUE, SUITE 3, BISMARCK, ND 58504 • 7013289885
Q1 2026 · Filed 2026-05-08
Market Value
$2.3B
Holdings
818
New Purchases
7
Added To
7
Closed
79
Reduced
720
Top 10 Concentration
41.4%
Turnover
10.5%
Sector Allocation Over Time
Industry Breakdown
| Industry | Weight |
|---|---|
| Financial Services | 33.5% |
| Technology | 24.1% |
| Consumer Cyclical | 7.8% |
| Communication Services | 7.7% |
| Healthcare | 7.4% |
Market Cap Concentration
| Tier | Holdings | Value | Weight |
|---|---|---|---|
| Mega Cap | 56 | $1.1B | 46.6% |
| Large Cap | 599 | $1.1B | 49.6% |
| Mid Cap | 158 | $29M | 1.3% |
| Small Cap | 5 | $60M | 2.6% |
Portfolio Analytics
Avg Market Cap
$95.2B
Median Market Cap
$22.5B
Avg P/E
33.9
Median P/E
23.9
Avg Dividend Yield
0.02%
Avg Beta
1.03
# Stocks
810
# ETFs / Funds
8
Top Holdings (818 total)
| # | Symbol | % Port | Shares | Value | Avg Price | Q/Q Value Chg | Share Chg | Chg % | Status |
|---|---|---|---|---|---|---|---|---|---|
| 1 | USIG | 11.65% | 5,241,476 | $269M | $51.23 | -$3M | — | — | |
| 2 | LQD | 5.26% | 1,111,374 | $121M | $108.99 | $69M | +639,914 | +135.7% | |
| 3 | NVDA | 5.13% | 678,180 | $118M | $174.40 | -$31M | -123,578 | -15.4% | |
| 4 | AAPL | 4.65% | 422,448 | $107M | $253.79 | -$29M | -77,305 | -15.5% | |
| 5 | MSFT | 3.45% | 214,906 | $80M | $370.17 | -$43M | -39,433 | -15.5% | |
| 6 | IVV | 3.18% | 112,291 | $73M | $653.21 | -$20M | -23,905 | -17.6% | |
| 7 | AMZN | 2.51% | 277,964 | $58M | $208.27 | -$18M | -50,921 | -15.5% | |
| 8 | GOOGL | 2.10% | 168,437 | $48M | $287.56 | -$14M | -30,914 | -15.5% | |
| 9 | AVGO | 1.80% | 133,824 | $41M | $309.51 | -$13M | -24,487 | -15.5% | |
| 10 | GOOG | 1.71% | 137,148 | $39M | $286.86 | -$12M | -25,233 | -15.5% | |
| 11 | META | 1.57% | 63,267 | $36M | $572.13 | -$13M | -11,627 | -15.5% | |
| 12 | SPBO | 1.37% | 1,089,068 | $32M | $29.03 | -$338K | — | — | |
| 13 | TSLA | 1.32% | 81,761 | $30M | $371.75 | -$13M | -14,714 | -15.2% | |
| 14 | VTC | 1.21% | 362,872 | $28M | $76.83 | -$294K | — | — | |
| 15 | BRK-B | 1.11% | 53,446 | $26M | $479.20 | -$6M | -9,819 | -15.5% | |
| 16 | JPM | 1.00% | 78,718 | $23M | $294.16 | -$8M | -16,556 | -17.4% | |
| 17 | LLY | 0.93% | 23,214 | $21M | $919.77 | -$8M | -4,268 | -15.5% | |
| 18 | XOM | 0.90% | 122,421 | $21M | $169.66 | $3M | -26,257 | -17.7% | |
| 19 | IGSB | 0.76% | 335,337 | $18M | $52.56 | — | +335,337 | — | NEW |
| 20 | JNJ | 0.74% | 69,731 | $17M | $244.44 | -$34K | -12,798 | -15.5% | |
| 21 | WMT | 0.68% | 126,069 | $16M | $124.28 | -$952K | -23,106 | -15.5% | |
| 22 | V | 0.64% | 48,778 | $15M | $302.24 | -$6M | -9,640 | -16.5% | |
| 23 | COST | 0.56% | 12,862 | $13M | $996.43 | -$311K | -2,361 | -15.5% | |
| 24 | NFLX | 0.51% | 122,805 | $12M | $96.15 | -$2M | -22,525 | -15.5% | |
| 25 | MA | 0.51% | 23,310 | $12M | $499.66 | -$4M | -4,580 | -16.4% | |
| 26 | IGIB | 0.49% | 212,002 | $11M | $53.22 | -$140K | — | — | |
| 27 | CVX | 0.49% | 54,288 | $11M | $206.90 | $1M | -11,581 | -17.6% | |
| 28 | ABBV | 0.48% | 51,334 | $11M | $217.49 | -$3M | -9,428 | -15.5% | |
| 29 | MU | 0.47% | 32,376 | $11M | $337.84 | $2K | -5,942 | -15.5% | |
| 30 | PG | 0.43% | 68,063 | $10M | $144.44 | -$2M | -12,498 | -15.5% | |
| 31 | CAT | 0.41% | 13,417 | $10M | $708.46 | $411K | -2,458 | -15.5% | |
| 32 | AMD | 0.41% | 46,665 | $9M | $203.43 | -$2M | -8,554 | -15.5% | |
| 33 | HD | 0.41% | 28,851 | $9M | $328.89 | -$2M | -5,296 | -15.5% | |
| 34 | PLTR | 0.41% | 64,372 | $9M | $146.28 | -$4M | -11,593 | -15.3% | |
| 35 | BAC | 0.41% | 192,684 | $9M | $48.75 | -$3M | -38,568 | -16.7% | |
| 36 | CSCO | 0.40% | 117,692 | $9M | $77.59 | -$2M | -21,312 | -15.3% | |
| 37 | MRK | 0.38% | 73,011 | $9M | $120.29 | -$315K | -13,421 | -15.5% | |
| 38 | KO | 0.37% | 112,688 | $9M | $76.05 | -$755K | -20,698 | -15.5% | |
| 39 | GE | 0.37% | 30,141 | $9M | $283.77 | -$3M | -5,916 | -16.4% | |
| 40 | AMAT | 0.34% | 23,241 | $8M | $341.79 | $875K | -4,266 | -15.5% | |
| 41 | LRCX | 0.34% | 36,382 | $8M | $213.66 | $265K | -7,482 | -17.1% | |
| 42 | RTX | 0.32% | 38,768 | $7M | $192.90 | -$937K | -7,116 | -15.5% | |
| 43 | PM | 0.32% | 45,145 | $7M | $165.34 | -$1M | -8,289 | -15.5% | |
| 44 | WFC | 0.31% | 91,089 | $7M | $79.61 | -$3M | -19,532 | -17.7% | |
| 45 | GS | 0.31% | 8,514 | $7M | $845.99 | -$2M | -1,794 | -17.4% | |
| 46 | ORCL | 0.31% | 48,777 | $7M | $147.11 | -$4M | -8,010 | -14.1% | |
| 47 | UNH | 0.31% | 26,368 | $7M | $270.59 | -$3M | -4,845 | -15.5% | |
| 48 | GEV | 0.30% | 7,923 | $7M | $872.90 | $787K | -1,454 | -15.5% | |
| 49 | LIN | 0.29% | 13,607 | $7M | $495.76 | -$121K | -2,498 | -15.5% | |
| 50 | IBM | 0.28% | 26,960 | $7M | $242.39 | -$3M | -4,949 | -15.5% | |
| 51 | MCD | 0.28% | 20,714 | $6M | $310.79 | -$1M | -3,803 | -15.5% | |
| 52 | VZ | 0.27% | 123,599 | $6M | $50.20 | $253K | -22,536 | -15.4% | |
| 53 | PEP | 0.27% | 39,707 | $6M | $155.29 | -$579K | -7,290 | -15.5% | |
| 54 | C | 0.25% | 51,411 | $6M | $113.41 | -$1M | -11,195 | -17.9% | |
| 55 | T | 0.25% | 200,266 | $6M | $28.99 | -$167K | -40,186 | -16.7% | |
| 56 | INTC | 0.24% | 127,861 | $6M | $44.13 | $112K | -22,007 | -14.7% | |
| 57 | KLAC | 0.24% | 3,814 | $6M | $1,472.41 | $69K | -751 | -16.4% | |
| 58 | NEE | 0.24% | 60,452 | $6M | $92.88 | -$63K | -10,275 | -14.5% | |
| 59 | AMGN | 0.24% | 15,944 | $6M | $351.85 | -$551K | -2,879 | -15.3% | |
| 60 | IGLB | 0.24% | 111,002 | $6M | $49.63 | -$91K | — | — | |
| 61 | MS | 0.24% | 33,363 | $5M | $164.57 | -$2M | -6,079 | -15.4% | |
| 62 | GILD | 0.23% | 38,687 | $5M | $139.37 | -$188K | -6,774 | -14.9% | |
| 63 | TMO | 0.23% | 10,940 | $5M | $491.53 | -$2M | -2,012 | -15.5% | |
| 64 | TJX | 0.22% | 32,403 | $5M | $159.70 | -$718K | -5,961 | -15.5% | |
| 65 | PFE | 0.22% | 183,524 | $5M | $28.08 | -$195K | -31,255 | -14.6% | |
| 66 | ABT | 0.22% | 50,175 | $5M | $102.67 | -$2M | -9,202 | -15.5% | |
| 67 | TXN | 0.22% | 26,335 | $5M | $194.14 | -$295K | -4,834 | -15.5% | |
| 68 | DIS | 0.22% | 52,475 | $5M | $96.38 | -$2M | -9,644 | -15.5% | |
| 69 | CRM | 0.22% | 27,054 | $5M | $186.67 | -$3M | -4,946 | -15.5% | |
| 70 | COP | 0.21% | 36,229 | $5M | $132.00 | $717K | -7,201 | -16.6% | |
| 71 | AXP | 0.21% | 15,649 | $5M | $302.48 | -$2M | -3,194 | -16.9% | |
| 72 | ISRG | 0.20% | 10,228 | $5M | $460.99 | -$2M | -2,010 | -16.4% | |
| 73 | QCOM | 0.20% | 36,440 | $5M | $128.78 | -$3M | -6,018 | -14.2% | |
| 74 | SCHW | 0.20% | 49,453 | $5M | $93.98 | -$1M | -9,078 | -15.5% | |
| 75 | ADI | 0.20% | 14,377 | $5M | $318.14 | -$41K | -2,638 | -15.5% | |
| 76 | WDC | 0.20% | 16,648 | $5M | $270.49 | $1M | -2,371 | -12.5% | |
| 77 | APH | 0.19% | 35,357 | $4M | $126.35 | -$1M | -5,982 | -14.5% | |
| 78 | BKNG | 0.19% | 1,054 | $4M | $4,210.32 | -$2M | -179 | -14.5% | |
| 79 | BA | 0.19% | 21,660 | $4M | $199.03 | -$1M | -3,970 | -15.5% | |
| 80 | BLK | 0.18% | 4,420 | $4M | $961.71 | -$1M | -820 | -15.7% | |
| 81 | UNP | 0.18% | 17,330 | $4M | $242.62 | -$541K | -3,185 | -15.5% | |
| 82 | UBER | 0.18% | 58,324 | $4M | $71.93 | -$1M | -10,658 | -15.4% | |
| 83 | HON | 0.18% | 18,423 | $4M | $226.03 | -$91K | -3,388 | -15.5% | |
| 84 | ETN | 0.18% | 11,356 | $4M | $357.67 | -$220K | -2,086 | -15.5% | |
| 85 | DE | 0.17% | 7,078 | $4M | $563.30 | $89K | -1,294 | -15.5% | |
| 86 | WELL | 0.17% | 19,920 | $4M | $197.71 | -$322K | -3,031 | -13.2% | |
| 87 | LOW | 0.17% | 16,664 | $4M | $236.28 | -$807K | -3,008 | -15.3% | |
| 88 | SPGI | 0.16% | 8,782 | $4M | $425.34 | -$2M | -1,743 | -16.6% | |
| 89 | BMY | 0.16% | 61,512 | $4M | $60.65 | -$179K | -10,967 | -15.1% | |
| 90 | ANET | 0.16% | 29,884 | $4M | $122.78 | -$967K | -5,497 | -15.5% | |
| 91 | LMT | 0.16% | 5,975 | $4M | $604.39 | $145K | -1,191 | -16.6% | |
| 92 | PANW | 0.16% | 22,525 | $4M | $160.32 | -$537K | +7 | +0.0% | |
| 93 | ACN | 0.16% | 18,134 | $4M | $198.29 | -$2M | -3,337 | -15.5% | |
| 94 | MCK | 0.16% | 4,143 | $4M | $865.36 | -$384K | -696 | -14.4% | |
| 95 | PLD | 0.15% | 26,871 | $4M | $132.18 | -$509K | -4,941 | -15.5% | |
| 96 | DHR | 0.15% | 18,241 | $3M | $189.60 | -$2M | -3,639 | -16.6% | |
| 97 | CB | 0.15% | 10,588 | $3M | $325.93 | -$533K | -2,177 | -17.1% | |
| 98 | NEM | 0.15% | 31,827 | $3M | $108.25 | -$317K | -5,852 | -15.5% | |
| 99 | INTU | 0.15% | 7,910 | $3M | $432.38 | -$3M | -1,449 | -15.5% | |
| 100 | PGR | 0.15% | 16,976 | $3M | $198.24 | -$1M | -3,121 | -15.5% |