# North Dakota State Investment Board

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 2064039. Source: https://holderbook.com/funds/2064039-north-dakota-state-investment-board/

- Reported value: $2.5B
- Positions: 826
- Weight of the ten largest: 37.1%
- Filed: 2026-08-04

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $137.6M | 687,707 | 5.6% | 3 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $134.6M | 179,687 | 5.5% | 3 |
| ISHARES TR | [LQD](https://holderbook.com/stocks/LQD/) | $127.4M | 1,167,864 | 5.2% | 3 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $123.3M | 426,229 | 5.0% | 3 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $81.7M | 219,052 | 3.3% | 3 |
| ISHARES TR | [USIG](https://holderbook.com/stocks/USIG/) | $76.9M | 1,499,747 | 3.1% | 3 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $68.2M | 285,975 | 2.8% | 3 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $61.4M | 171,763 | 2.5% | 3 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $51.9M | 137,340 | 2.1% | 3 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $49.5M | 140,182 | 2.0% | 3 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $38.4M | 33,224 | 1.6% | 3 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $36.6M | 64,930 | 1.5% | 3 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $36.2M | 86,131 | 1.5% | 3 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $28.2M | 23,539 | 1.1% | 3 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $27.8M | 47,888 | 1.1% | 3 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $27.4M | 54,845 | 1.1% | 3 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $25.8M | 78,820 | 1.0% | 3 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $18.1M | 129,279 | 0.7% | 3 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $18.0M | 71,036 | 0.7% | 3 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $16.9M | 23,375 | 0.7% | 3 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $16.8M | 122,689 | 0.7% | 3 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $16.7M | 48,684 | 0.7% | 3 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $16.0M | 36,844 | 0.6% | 3 |
| ISHARES TR | [IGSB](https://holderbook.com/stocks/IGSB/) | $15.6M | 297,278 | 0.6% | 2 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $14.7M | 129,371 | 0.6% | 3 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $14.3M | 13,389 | 0.6% | 3 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $14.1M | 119,859 | 0.6% | 3 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $13.1M | 52,197 | 0.5% | 3 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $12.3M | 23,921 | 0.5% | 3 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $12.3M | 13,125 | 0.5% | 3 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $12.2M | 29,272 | 0.5% | 3 |
| KLA CORP | [KLAC](https://holderbook.com/stocks/KLAC/) | $11.6M | 38,571 | 0.5% | 3 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $11.4M | 30,450 | 0.5% | 3 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $11.1M | 195,293 | 0.5% | 3 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $10.4M | 29,607 | 0.4% | 3 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $10.1M | 68,746 | 0.4% | 3 |
| SANDISK CORP | [SNDK](https://holderbook.com/stocks/SNDK/) | $9.7M | 4,253 | 0.4% | 3 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $9.4M | 115,638 | 0.4% | 3 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $9.4M | 72,931 | 0.4% | 3 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $9.3M | 7,931 | 0.4% | 3 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $9.1M | 54,681 | 0.4% | 3 |
| SPDR SERIES TRUST | [SPBO](https://holderbook.com/stocks/SPBO/) | $9.1M | 311,928 | 0.4% | 3 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $8.8M | 123,707 | 0.4% | 3 |
| GOLDMAN SACHS GROUP INC | [GS](https://holderbook.com/stocks/GS/) | $8.6M | 8,502 | 0.3% | 3 |
| PHILIP MORRIS INTL INC | [PM](https://holderbook.com/stocks/PM/) | $8.4M | 46,328 | 0.3% | 3 |
| WESTERN DIGITAL CORP | [WDC](https://holderbook.com/stocks/WDC/) | $8.4M | 13,091 | 0.3% | 3 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $8.1M | 23,786 | 0.3% | 3 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $8.1M | 27,025 | 0.3% | 3 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $7.8M | 27,667 | 0.3% | 3 |
| MARVELL TECHNOLOGY INC | [MRVL](https://holderbook.com/stocks/MRVL/) | $7.7M | 25,715 | 0.3% | 3 |
| PALANTIR TECHNOLOGIES INC | [PLTR](https://holderbook.com/stocks/PLTR/) | $7.6M | 64,953 | 0.3% | 3 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $7.5M | 39,783 | 0.3% | 3 |
| VANGUARD SCOTTSDALE FDS | [VTC](https://holderbook.com/stocks/VTC/) | $7.5M | 98,039 | 0.3% | 3 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $7.5M | 90,309 | 0.3% | 3 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $7.3M | 50,056 | 0.3% | 3 |
| CITIGROUP INC | [C](https://holderbook.com/stocks/C/) | $7.3M | 52,036 | 0.3% | 3 |
| LINDE PLC | [LIN](https://holderbook.com/stocks/LIN/) | $7.1M | 13,595 | 0.3% | 3 |
| MORGAN STANLEY | [MS](https://holderbook.com/stocks/MS/) | $6.9M | 33,037 | 0.3% | 3 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $6.8M | 36,587 | 0.3% | 3 |
| AMPHENOL CORP | [APH](https://holderbook.com/stocks/APH/) | $6.4M | 36,283 | 0.3% | 3 |
| CORNING INC | [GLW](https://holderbook.com/stocks/GLW/) | $5.9M | 23,215 | 0.2% | 3 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $5.8M | 15,994 | 0.2% | 3 |
| ANALOG DEVICES INC | [ADI](https://holderbook.com/stocks/ADI/) | $5.8M | 14,534 | 0.2% | 3 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $5.7M | 21,256 | 0.2% | 3 |
| CROWDSTRIKE HLDGS INC | [CRWD](https://holderbook.com/stocks/CRWD/) | $5.6M | 7,353 | 0.2% | 3 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $5.5M | 40,747 | 0.2% | 3 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $5.5M | 10,961 | 0.2% | 3 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $5.4M | 62,035 | 0.2% | 3 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $5.3M | 125,587 | 0.2% | 3 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $5.3M | 15,653 | 0.2% | 3 |
| CVS HEALTH CORP | [CVS](https://holderbook.com/stocks/CVS/) | $5.3M | 50,828 | 0.2% | 3 |
| ARISTA NETWORKS INC | [ANET](https://holderbook.com/stocks/ANET/) | $5.2M | 30,676 | 0.2% | 3 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $5.1M | 52,825 | 0.2% | 3 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $5.0M | 33,260 | 0.2% | 3 |
| EATON CORP PLC | [ETN](https://holderbook.com/stocks/ETN/) | $5.0M | 11,653 | 0.2% | 3 |
| BOEING CO | [BA](https://holderbook.com/stocks/BA/) | $4.9M | 22,468 | 0.2% | 3 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $4.8M | 17,783 | 0.2% | 3 |
| DELL TECHNOLOGIES INC | [DELL](https://holderbook.com/stocks/DELL/) | $4.7M | 11,008 | 0.2% | 3 |
| GILEAD SCIENCES INC | [GILD](https://holderbook.com/stocks/GILD/) | $4.7M | 37,032 | 0.2% | 3 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $4.7M | 51,490 | 0.2% | 3 |
| WELLTOWER INC | [WELL](https://holderbook.com/stocks/WELL/) | $4.6M | 20,447 | 0.2% | 3 |
| DEERE & CO | [DE](https://holderbook.com/stocks/DE/) | $4.6M | 7,265 | 0.2% | 3 |
| BRISTOL-MYERS SQUIBB CO | [BMY](https://holderbook.com/stocks/BMY/) | $4.6M | 79,632 | 0.2% | 3 |
| BOOKING HOLDINGS INC | [BKNG](https://holderbook.com/stocks/BKNG/) | $4.5M | 25,265 | 0.2% | 3 |
| SCHWAB CHARLES CORP | [SCHW](https://holderbook.com/stocks/SCHW/) | $4.4M | 48,181 | 0.2% | 3 |
| BLACKROCK INC | [BLK](https://holderbook.com/stocks/BLK/) | $4.4M | 4,537 | 0.2% | 3 |
| INTUITIVE SURGICAL INC | [ISRG](https://holderbook.com/stocks/ISRG/) | $4.2M | 10,496 | 0.2% | 3 |
| UBER TECHNOLOGIES INC | [UBER](https://holderbook.com/stocks/UBER/) | $4.2M | 57,754 | 0.2% | 3 |
| AT&T INC | [T](https://holderbook.com/stocks/T/) | $4.1M | 199,717 | 0.2% | 3 |
| EXPEDIA GROUP INC | [EXPE](https://holderbook.com/stocks/EXPE/) | $4.1M | 16,033 | 0.2% | 3 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $4.1M | 168,928 | 0.2% | 3 |
| NEWMONT CORP | [NEM](https://holderbook.com/stocks/NEM/) | $3.9M | 41,570 | 0.2% | 3 |
| STARBUCKS CORP | [SBUX](https://holderbook.com/stocks/SBUX/) | $3.8M | 37,506 | 0.2% | 3 |
| CONOCOPHILLIPS | [COP](https://holderbook.com/stocks/COP/) | $3.8M | 36,794 | 0.2% | 3 |
| PROGRESSIVE CORP | [PGR](https://holderbook.com/stocks/PGR/) | $3.8M | 17,425 | 0.2% | 3 |
| VERTIV HOLDINGS CO | [VRT](https://holderbook.com/stocks/VRT/) | $3.8M | 11,312 | 0.2% | 3 |
| ALTRIA GROUP INC | [MO](https://holderbook.com/stocks/MO/) | $3.8M | 52,607 | 0.2% | 3 |
| VERTEX PHARMACEUTICALS INC | [VRTX](https://holderbook.com/stocks/VRTX/) | $3.7M | 7,547 | 0.2% | 3 |
| FORTINET INC | [FTNT](https://holderbook.com/stocks/FTNT/) | $3.7M | 24,394 | 0.2% | 3 |
| PROLOGIS INC. | [PLD](https://holderbook.com/stocks/PLD/) | $3.7M | 27,582 | 0.2% | 3 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +11.8% | +14.8% | -3.0% | 100% |
| Q1 2026 | -4.1% | -4.6% | +0.6% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $2.5B | 826 |
| Q1 2026 | $2.3B | 752 |
| Q4 2025 | $2.7B | 826 |