NODKNasdaqFire, Marine & Casualty InsuranceFiscal year ends December 31
NI Holdings, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 7, 2026
$14.75−0.06 (-0.41%)
Close on Oct 19, 2026
- Market cap
- $307.90M
- P/E (TTM)
- 38.8
- Dividend yield
- –
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
25.3%
5M of 20M shares
Institutional holders
79
11 new, 5 sold out
Net institutional buying
0M
In Q2 2026
Insider trades, 12 months
0 buys · 0 sales
Open-market trades only
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| M3 Funds, LLC | 1,652,020 | 8.04% | 13G (passive) amendment | Mar 31, 2026 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of NODK | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| M3F, Inc. | 1,552,020 | 7.61% | $24.38K | −100,000 | 5.78% |
| Newtyn Management, LLC | 670,000 | 3.28% | $10.53M | – | 1.31% |
| BlackRock, Inc. | 545,925 | 2.68% | $8.58M | +17,123 | 0.00% |
| Dimensional Fund Advisors LP | 360,722 | 1.77% | $5.67M | +19,606 | 0.00% |
| Vanguard Capital Management LLC | 288,170 | 1.41% | $4.53M | −6,628 | 0.00% |
| Geode Capital Management, LLC | 181,574 | 0.89% | $2.85M | +27,871 | 0.00% |
| Morgan Stanley | 181,564 | 0.89% | $2.85M | +143,168 | 0.00% |
| State Street Corp | 134,886 | 0.66% | $2.12M | −3,869 | 0.00% |
| Minerva Advisors LLC | 129,900 | 0.64% | $2.04M | – | 1.29% |
| Tcw Group Inc | 126,899 | 0.62% | $1.99M | −83,222 | 0.01% |
| Arbiter Partners Capital Management LLC | 125,184 | 0.61% | $1.97M | +73,792 | 0.52% |
| Orchard Capital Management, LLC | 120,742 | 0.59% | $1.90M | +1,113 | 1.85% |
| Renaissance Technologies LLC | 92,991 | 0.46% | $1.46M | +3,800 | 0.00% |
| Universal- Beteiligungs- und Servicegesellschaft mbH | 70,546 | 0.35% | $1.11M | +1,113 | 0.00% |
| Bridgeway Capital Management, LLC | 66,474 | 0.33% | $1.04M | −14,500 | 0.02% |
| Northern Trust Corp | 54,193 | 0.27% | $851.37K | −8,426 | 0.00% |
| Vanguard Fiduciary Trust Co | 50,770 | 0.25% | $797.60K | +3,721 | 0.00% |
| Caldwell Sutter Capital, Inc. | 44,469 | 0.22% | $698.61K | – | 0.26% |
| Vanguard Portfolio Management LLC | 44,468 | 0.22% | $698.59K | +5,127 | 0.00% |
| Boothbay Fund Management, LLC | 42,200 | 0.21% | $662.96K | +11,200 | 0.01% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 79 | 5M | 25.3% | 11 / 31 | 20 / 5 | 0M | 0M |
| Q1 2026 | 74 | 5M | 24.8% | 10 / 22 | 25 / 6 | 1M | 0M |
| Q4 2025 | 72 | 5M | 25.2% | 6 / 28 | 19 / 5 | 0M | 0M |
| Q3 2025 | 71 | 5M | 25.0% | 8 / 26 | 18 / 1 | 0M | 0M |
| Q2 2025 | 64 | 5M | 24.7% | 10 / 24 | 19 / 7 | 0M | 0M |
| Q1 2025 | 61 | 5M | 25.2% | 6 / 20 | 22 / 3 | 0M | 0M |
| Q4 2024 | 59 | 5M | 25.0% | 8 / 24 | 12 / 2 | 1M | 0M |
| Q3 2024 | 53 | 5M | 22.9% | 4 / 22 | 13 / 4 | 1M | 1M |
| Q2 2024 | 55 | 5M | 22.3% | 7 / 18 | 18 / 1 | 0M | 0M |
| Q1 2024 | 49 | 5M | 22.5% | 1 / 17 | 18 / 2 | 0M | 0M |
| Q4 2023 | 50 | 5M | 22.3% | 3 / 22 | 14 / 1 | 0M | 0M |
| Q3 2023 | 48 | 4M | 22.0% | 1 / 14 | 20 / 5 | 0M | 0M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of NODK | Value | % of fund | As of |
|---|---|---|---|---|---|
| Vanguard Total Stock Market Index Fund | 187,610 | 0.92% | $2.95M | 0.00% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 185,184 | 0.91% | $2.91M | 0.00% | Jun 30, 2026 |
| Vanguard Extended Market Index Fund | 93,070 | 0.46% | $1.46M | 0.00% | Jun 30, 2026 |
| iShares Russell 2000 Value ETF | 80,956 | 0.40% | $1.27M | 0.01% | Jun 30, 2026 |
| U.S. Targeted Value Portfolio | 69,109 | 0.34% | $1.05M | 0.01% | Jul 31, 2026 |
| Fidelity Small Cap Index Fund | 66,631 | 0.33% | $1.01M | 0.00% | Jul 31, 2026 |
| U.S. Micro Cap Portfolio | 46,324 | 0.23% | $701.81K | 0.01% | Jul 31, 2026 |
| Dimensional U.S. Small Cap ETF | 38,245 | 0.19% | $579.41K | 0.00% | Jul 31, 2026 |
| Omni Small-Cap Value Fund | 35,500 | 0.17% | $557.71K | 0.04% | Jun 30, 2026 |
| Vanguard Russell 2000 Index Fund | 34,884 | 0.17% | $487.68K | 0.00% | May 31, 2026 |
| U.S. Small Cap Portfolio | 31,727 | 0.16% | $480.66K | 0.00% | Jul 31, 2026 |
| EA Bridgeway Omni Small-Cap Value ETF | 30,974 | 0.15% | $486.60K | 0.02% | Jun 30, 2026 |
| Dimensional U.S. Targeted Value ETF | 29,618 | 0.15% | $448.71K | 0.00% | Jul 31, 2026 |
| U.S. Core Equity 2 Portfolio | 26,669 | 0.13% | $404.04K | 0.00% | Jul 31, 2026 |
| Dimensional U.S. Core Equity 2 ETF | 25,910 | 0.13% | $392.54K | 0.00% | Jul 31, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Cindy Launer | Chief Executive Officer, Director | 90,800 | 0.44% | Mar 3, 2026 |
| Seth C. Daggett | Chief Executive Officer, Director | 90,420 | 0.44% | Mar 5, 2025 |
| Kevin Douglas Elfstrand | Chief Accounting Officer | 23,243 | 0.11% | Mar 3, 2026 |
| Matthew James Maki | Chief Financial Officer | 61,723 | 0.30% | Mar 3, 2026 |
| Douglas Alan Duncan | Chief Information Officer | 11,100 | 0.05% | Mar 3, 2026 |
| Callie Jean Thomas | Director | 5,015 | 0.02% | May 21, 2026 |
| William Russell Devlin | Director | 36,739 | 0.18% | May 21, 2026 |
| Jeffrey R. Missling | Director | 32,739 | 0.16% | May 21, 2026 |
| Prakash Mathew | Director | 16,139 | 0.08% | May 21, 2026 |
| Dave L. Stende | Director | 8,939 | 0.04% | May 21, 2026 |
| Eric K. Aasmundstad | Director | 41,153 | 0.20% | May 21, 2026 |
| Dana John Kaldor | Director | 10,767 | 0.05% | May 21, 2026 |
| Duaine Espegard | Director | 36,724 | 0.18% | May 23, 2025 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Callie Jean Thomas Director | May 20, 2026 | Award | +5,015 | – | – | 5,015 |
| Eric K. Aasmundstad Director | May 20, 2026 | Award | +5,015 | – | – | 41,153 |
| Prakash Mathew Director | May 20, 2026 | Award | +5,015 | – | – | 16,139 |
| Dave L. Stende Director | May 20, 2026 | Award | +5,015 | – | – | 8,939 |
| Dana John Kaldor Director | May 20, 2026 | Award | +5,015 | – | – | 10,767 |
| Jeffrey R. Missling Director | May 20, 2026 | Award | +5,015 | – | – | 32,739 |
| William Russell Devlin Director | May 20, 2026 | Award | +5,015 | – | – | 36,739 |
| Cindy Launer Chief Executive Officer, Director | Mar 2, 2026 | Award | +56,000 | – | – | 90,800 |
| Douglas Alan Duncan Chief Information Officer | Mar 2, 2026 | Award | +11,100 | – | – | 11,100 |
| Matthew James Maki Chief Financial Officer | Mar 2, 2026 | Award | +22,700 | – | – | 61,723 |
| Kevin Douglas Elfstrand Chief Accounting Officer | Mar 2, 2026 | Award | +9,300 | – | – | 23,243 |
| Matthew James Maki Chief Financial Officer | Mar 1, 2026 | Tax withholding | −1,588 | $13.28 | $21.09K | 39,023 |
| Kevin Douglas Elfstrand Chief Accounting Officer | Mar 1, 2026 | Tax withholding | −479 | $13.28 | $6.36K | 13,943 |
| Matthew James Maki Chief Financial Officer | Feb 28, 2026 | Tax withholding | −2,471 | $13.28 | $32.81K | 40,611 |
| Kevin Douglas Elfstrand Chief Accounting Officer | Feb 28, 2026 | Tax withholding | −873 | $13.28 | $11.59K | 14,422 |
| Matthew James Maki Chief Financial Officer | Feb 3, 2026 | Tax withholding | −119 | $13.57 | $1.61K | 43,082 |
| Matthew James Maki Chief Financial Officer | Jan 2, 2026 | Tax withholding | −115 | $13.27 | $1.53K | 43,201 |
| Cindy Launer Chief Executive Officer | Dec 1, 2025 | Award | +14,076 | – | – | 34,800 |
| Matthew James Maki Chief Financial Officer | Dec 1, 2025 | Tax withholding | −111 | $13.32 | $1.48K | 42,514 |
| Eric K. Aasmundstad Director | May 21, 2025 | Award | +3,924 | – | – | 36,138 |
| Duaine Espegard Director | May 21, 2025 | Award | +3,924 | – | – | 36,724 |
| William Russell Devlin Director | May 21, 2025 | Award | +3,924 | – | – | 31,724 |
| Jeffrey R. Missling Director | May 21, 2025 | Award | +3,924 | – | – | 27,724 |
| Dave L. Stende Director | May 21, 2025 | Award | +3,924 | – | – | 3,924 |
| Cindy Launer Director | May 21, 2025 | Award | +3,924 | – | – | 20,724 |
| Prakash Mathew Director | May 21, 2025 | Award | +3,924 | – | – | 11,124 |
| Seth C. Daggett Chief Executive Officer, Director | Mar 3, 2025 | Award | +47,457 | – | – | 90,420 |
| Seth C. Daggett Chief Executive Officer, Director | Mar 3, 2025 | Tax withholding | −2,313 | $14.24 | $32.94K | 42,963 |
| Matthew James Maki Chief Financial Officer | Mar 3, 2025 | Award | +25,559 | – | – | 42,625 |
| Matthew James Maki Chief Financial Officer | Mar 3, 2025 | Tax withholding | −999 | $14.24 | $14.23K | 17,066 |
| Matthew James Maki Interim CFO | Feb 3, 2025 | Award | +993 | – | – | 15,800 |
| Matthew James Maki Interim CFO | Jan 2, 2025 | Award | +955 | – | – | 14,807 |
| Seth C. Daggett Chief Executive Officer, Director | Dec 2, 2024 | Award | +14,869 | – | – | 44,536 |
| Matthew James Maki Interim CFO | Dec 2, 2024 | Award | +929 | – | – | 13,852 |
| Jeffrey R. Missling Director | May 22, 2024 | Award | +3,400 | – | – | 23,800 |
| Prakash Mathew Director | May 22, 2024 | Award | +3,400 | – | – | 7,200 |
| Duaine Espegard Director | May 22, 2024 | Award | +3,400 | – | – | 32,800 |
| Cindy Launer Director | May 22, 2024 | Award | +3,400 | – | – | 16,800 |
| Eric K. Aasmundstad Director | May 22, 2024 | Award | +3,400 | – | – | 32,214 |
| William Russell Devlin Director | May 22, 2024 | Award | +3,400 | – | – | 27,800 |
| Stephen V. Marlow Director | May 22, 2024 | Award | +3,400 | – | – | 25,300 |
| Michael J. Alexander President & CEO, Director | Mar 1, 2024 | Award | +30,600 | – | – | 261,962 |
| Seth C. Daggett EVP, Treasurer & CFO | Mar 1, 2024 | Award | +11,100 | – | – | 29,667 |
| Seth C. Daggett EVP, Treasurer & CFO | Mar 1, 2024 | Tax withholding | +1,161 | – | – | 18,567 |
| Patrick W. Duncan SVP, Operations | Mar 1, 2024 | Award | +5,100 | – | – | 44,003 |
| Patrick W. Duncan SVP of Operations | Dec 12, 2023 | Buy | +808 | $12.95 | $10.46K | 38,154 |
| Jeffrey R. Missling Director | May 24, 2023 | Award | +3,800 | – | – | 20,400 |
| Duaine Espegard Director | May 24, 2023 | Award | +3,800 | – | – | 29,400 |
| Cindy Launer Director | May 24, 2023 | Award | +3,800 | – | – | 13,400 |
| Prakash Mathew Director | May 24, 2023 | Award | +3,800 | – | – | 3,800 |
| William Russell Devlin Director | May 24, 2023 | Award | +3,800 | – | – | 24,400 |
| Stephen V. Marlow Director | May 24, 2023 | Award | +3,800 | – | – | 21,900 |
| Eric K. Aasmundstad Director | May 24, 2023 | Award | +3,800 | – | – | 28,814 |
| Patrick W. Duncan SVP of Operations | Mar 1, 2023 | Tax withholding | −230 | $13.85 | $3.19K | 33,442 |
| Patrick W. Duncan SVP of Operations | Mar 1, 2023 | Award | +3,900 | – | – | 37,342 |
| Seth C. Daggett EVP, Treasurer and CFO | Mar 1, 2023 | Award | +7,300 | – | – | 18,975 |
| Seth C. Daggett EVP, Treasurer and CFO | Mar 1, 2023 | Tax withholding | −713 | $13.85 | $9.88K | 11,675 |
| Michael J. Alexander President & CEO, Director | Mar 1, 2023 | Award | +24,300 | – | – | 230,609 |
| Jeffrey R. Missling Director | May 25, 2022 | Award | +3,100 | – | – | 16,600 |
| William Russell Devlin Director | May 25, 2022 | Award | +3,100 | – | – | 20,600 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.