NI HLDGS INC NODK
COM · Common Stock · CUSIP 65342T106
- SectorFinancials
- IndustryFire, Marine & Casualty Insurance
- HeadquartersFargo, ND
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($497.9k this quarter). Holder counts are more reliable. Shares outstanding: 20.4m as of 2026-07-31, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $15.71.
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 50 |
| Q4 2022 | 53 |
| Q1 2023 | 52 |
| Q2 2023 | 53 |
| Q3 2023 | 49 |
| Q4 2023 | 51 |
| Q1 2024 | 50 |
| Q2 2024 | 56 |
| Q3 2024 | 54 |
| Q4 2024 | 61 |
| Q1 2025 | 63 |
| Q2 2025 | 65 |
| Q3 2025 | 71 |
| Q4 2025 | 72 |
| Q1 2026 | 74 |
| Q2 2026 | 79 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 24 | 17 |
| Q4 2024 | 33 | 14 |
| Q1 2025 | 25 | 24 |
| Q2 2025 | 33 | 26 |
| Q3 2025 | 34 | 19 |
| Q4 2025 | 33 | 24 |
| Q1 2026 | 28 | 31 |
| Q2 2026 | 42 | 25 |
Biggest buyers
| MORGAN STANLEY | Added | +143.2k |
| Arbiter Partners Capital Management LLC | Added | +73.8k |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +27.9k |
| DIMENSIONAL FUND ADVISORS LP | Added | +19.6k |
| CITADEL ADVISORS LLC | New | +18.2k |
| BlackRock, Inc. | Added | +17.1k |
| BOOTHBAY FUND MANAGEMENT, LLC | Added | +11.2k |
| AQR CAPITAL MANAGEMENT LLC | Added | +7.7k |
| DEUTSCHE BANK AG\ | New | +6.6k |
| VANGUARD PORTFOLIO MANAGEMENT LLC | Added | +5.1k |
Biggest sellers
| M3F, Inc. | Reduced | -100.0k |
| TCW GROUP INC | Reduced | -83.2k |
| Philadelphia Financial Management of San Francisco, LLC | Sold out | -14.8k |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | Reduced | -14.5k |
| JANE STREET GROUP, LLC | Sold out | -10.2k |
| GOLDMAN SACHS GROUP INC | Reduced | -8.9k |
| NORTHERN TRUST CORP | Reduced | -8.4k |
| VANGUARD CAPITAL MANAGEMENT LLC | Reduced | -6.6k |
| STATE STREET CORP | Reduced | -3.9k |
| Asset Allocation & Management Company, LLC | Reduced | -2.5k |
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| M3 PARTNERS LP 13G · passive investor +1.6 pts · filed 2026-04-23 | 8.0% |
Insider purchases and sales since 1 Apr 2026
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
None reported since 1 Apr 2026.
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| M3F, Inc. 5.78% of their portfolio | 1.6m $24.4m | Reduced -100.0k |
| Newtyn Management, LLC 1.31% of their portfolio | 670.0k $10.5m | Unchanged |
| BlackRock, Inc. 0.00% of their portfolio | 545.9k $8.6m | Added +17.1k |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 360.7k $5.7m | Added +19.6k |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 288.2k $4.5m | Reduced -6.6k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 181.6k $2.9m | Added +27.9k |
| MORGAN STANLEY 0.00% of their portfolio | 181.6k $2.9m | Added +143.2k |
| STATE STREET CORP 0.00% of their portfolio | 134.9k $2.1m | Reduced -3.9k |
| Minerva Advisors LLC 1.29% of their portfolio | 129.9k $2.0m | Unchanged |
| TCW GROUP INC 0.01% of their portfolio | 126.9k $2.0m | Reduced -83.2k |
| Arbiter Partners Capital Management LLC 0.54% of their portfolio | 125.2k $2.0m | Added +73.8k |
| Orchard Capital Management, LLC 2.08% of their portfolio | 120.7k $1.9m | Added +1.1k |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 93.0k $1.5m | Added +3.8k |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.00% of their portfolio | 70.5k $1.1m | Added +1.1k |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.02% of their portfolio | 66.5k $1.0m | Reduced -14.5k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 54.2k $851.4k | Reduced -8.4k |
| VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio | 50.8k $797.6k | Added +3.7k |
| CALDWELL SUTTER CAPITAL, INC. 0.26% of their portfolio | 44.5k $698.6k | Unchanged |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.00% of their portfolio | 44.5k $698.6k | Added +5.1k |
| BOOTHBAY FUND MANAGEMENT, LLC 0.01% of their portfolio | 42.2k $663.0k | Added +11.2k |
| Empowered Funds, LLC 0.00% of their portfolio | 31.0k $486.6k | Unchanged |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 26.5k $416.1k | Reduced -8.9k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 25.3k $397.9k | Added +4 |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 23.7k $371.9k | Added +7.7k |
| Asset Allocation & Management Company, LLC 0.10% of their portfolio | 19.1k $300.0k | Reduced -2.5k |
| Nuveen, LLC 0.00% of their portfolio | 18.6k $291.8k | Unchanged |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 18.2k $285.3k | New |
| Bank of New York Mellon Corp 0.00% of their portfolio | 17.2k $269.6k | Added +1.2k |
| AE Wealth Management LLC 0.00% of their portfolio | 14.9k $234.2k | Added +1.4k |
| Creative Planning 0.00% of their portfolio | 14.2k $223.0k | Reduced -45 |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 13.6k $213.0k | Added +5.1k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 9.3k $146.9k | Added +462 |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 6.6k $103.7k | New |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 5.7k $90.0k | Added +3.1k |
| Vanguard Global Advisers, LLC 0.00% of their portfolio | 4.2k $66.3k | Unchanged |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 4.1k $64.3k | Added +1.2k |
| CITIGROUP INC 0.00% of their portfolio | 3.1k $49.0k | Added +2.8k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 3.1k $48.9k | Reduced -274 |
| US BANCORP \DE\ 0.00% of their portfolio | 3.0k $47.1k | Unchanged |
| BARCLAYS PLC 0.00% of their portfolio | 2.7k $42.9k | Reduced -73 |
| Police & Firemen's Retirement System of New Jersey 0.00% of their portfolio | 1.9k $30.0k | Unchanged |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 1.8k $28.5k | Reduced -437 |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 1.7k $27.1k | Added +1.7k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 1.6k $26.0k | Added +1.1k |
| NISA INVESTMENT ADVISORS, LLC 0.00% of their portfolio | 1.0k $16.0k | Added +1.0k |
| UBS Group AG 0.00% of their portfolio | 992 $15.6k | Reduced -426 |
| FMR LLC 0.00% of their portfolio | 990 $15.6k | Added +181 |
| Ameritas Investment Partners, Inc. 0.00% of their portfolio | 903 $14.2k | Unchanged |
| THOMPSON INVESTMENT MANAGEMENT, INC. 0.00% of their portfolio | 785 $12.3k | Unchanged |
| Tower Research Capital LLC (TRC) 0.00% of their portfolio | 757 $11.9k | Reduced -750 |
| Legal & General Group Plc 0.00% of their portfolio | 684 $10.7k | Unchanged |
| Arax Advisory Partners 0.00% of their portfolio | 661 $10.4k | Added +648 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 252 $4.0k | Unchanged |
| NewEdge Advisors, LLC 0.00% of their portfolio | 250 $3.9k | Unchanged |
| MassMutual Private Wealth & Trust, FSB 0.00% of their portfolio | 228 $3.6k | Unchanged |
| Sterling Capital Management LLC 0.00% of their portfolio | 128 $2.0k | Reduced -99 |
| PNC Financial Services Group, Inc. 0.00% of their portfolio | 112 $1.8k | Reduced -126 |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 93 $1.5k | Reduced -277 |
| Cornerstone Planning Group LLC 0.00% of their portfolio | 85 $1.4k | Unchanged |
| Essential Partners LLC 0.00% of their portfolio | 76 $1.2k | Added +3 |
| Integrated Wealth Concepts LLC 0.00% of their portfolio | 49 $771 | New |
| Allworth Financial LP 0.00% of their portfolio | 47 $739 | Added +23 |
| Avion Wealth 0.00% of their portfolio | 40 $0 | Unchanged |
| Physician Wealth Advisors, Inc. 0.00% of their portfolio | 40 $629 | New |
| Rialto Wealth Management, LLC 0.00% of their portfolio | 39 $613 | New |
| EverSource Wealth Advisors, LLC 0.00% of their portfolio | 38 $598 | Added +4 |
| Bogart Wealth, LLC 0.00% of their portfolio | 36 $566 | New |
| Bare Financial Services, Inc 0.00% of their portfolio | 36 $566 | New |
| JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio | 25 $408 | New |
| GAMMA Investing LLC 0.00% of their portfolio | 21 $330 | Reduced -11 |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 19 $298 | Unchanged |
| IFP Advisors, Inc 0.00% of their portfolio | 19 $298 | Reduced -4 |
| ROTHSCHILD INVESTMENT LLC 0.00% of their portfolio | 14 $220 | Added +11 |
| True Wealth Design, LLC 0.00% of their portfolio | 8 $126 | Added +3 |
| Optiver Holding B.V. 0.00% of their portfolio | 6 $94 | Reduced -72 |
| Farther Finance Advisors, LLC 0.00% of their portfolio | 6 $95 | New |
| Basecamp Wealth Advisors LLC 0.00% of their portfolio | 5 $79 | Added +3 |
| Clearstead Advisors, LLC 0.00% of their portfolio | 2 $32 | New |
| Wealth Enhancement Trust Services, Inc. 0.00% of their portfolio | 2 $31 | New |