Key Takeaways
- • The North Dakota Retirement and Investment Office (RIO) launched legacyfund.nd.gov, a public transparency website for the Legacy Fund, the state's sovereign wealth fund valued at more than $15 billion.
- • The site includes an interactive world map, filters by asset class and sector, company-name search, and downloadable holdings data, allowing the public to examine how fund assets are invested.
- • The Legacy Fund receives 30% of North Dakota's oil and gas production and extraction tax revenues, as established by a 2010 constitutional amendment.
- • The website responds to House Bill 1319, enacted in the 2025 legislative session, which requires the State Investment Board (SIB) to maintain a publicly accessible listing of the fund's investments.
- • Tactis LLC, a Maryland-based customer experience and digital engineering firm, was selected through competitive procurement to design, build and manage the site, with North Dakota technology company Devii providing the data platform.
Summary
The North Dakota Retirement and Investment Office (RIO) launched a new transparency website for the Legacy Fund, the state's sovereign wealth fund, according to the office's announcement reported on October 28, 2026. The site, available at legacyfund.nd.gov, is designed to give the public access to the fund's history, governance structure, investment holdings and financial impact on the state. Visitors can follow a historical timeline, learn about the In-State Investment Program, and access news, reports and performance information.
The holdings page is the centerpiece of the release. It features an interactive world map that lets users select a country to view associated holdings, and allows filtering by asset class and sector, searching by company name, and downloading the underlying data. RIO states these tools provide greater insight into the fund's composition and how its assets are deployed.
The Legacy Fund was established through a 2010 constitutional amendment and receives 30% of North Dakota's oil and gas production and extraction tax revenues. It is invested to preserve and grow its assets for future generations, and a portion of its earnings may be appropriated by the Legislature. The fund is valued at more than $15 billion. The State Investment Board (SIB) holds fiduciary responsibility for its investments, with investment services provided by RIO, while the Legacy and Budget Stabilization Fund Advisory Board provides recommendations on investment policy. Appropriation decisions are made through the legislative process.
RIO Executive Director Jodi A. Smith said, "The Legacy Fund is an important part of North Dakota's financial future, and transparency helps the public understand how it is managed." She added that the website "makes it easier for North Dakotans to learn about the fund and understand its role in our state."
The website was developed in response to House Bill 1319, enacted during the 2025 legislative session and sponsored by Reps. Bernie Satrom and Mitch Ostlie and Sen. Cole Conley. The law requires the SIB to maintain a publicly accessible website listing the fund's investments. RIO selected Tactis LLC, a Maryland-based customer experience and digital engineering firm, through a competitive procurement process to design, build and manage the site. Devii, a North Dakota technology company, serves as subcontractor and provides the data platform that receives and prepares holdings for publication.
The holdings page is the centerpiece of the release. It features an interactive world map that lets users select a country to view associated holdings, and allows filtering by asset class and sector, searching by company name, and downloading the underlying data. RIO states these tools provide greater insight into the fund's composition and how its assets are deployed.
The Legacy Fund was established through a 2010 constitutional amendment and receives 30% of North Dakota's oil and gas production and extraction tax revenues. It is invested to preserve and grow its assets for future generations, and a portion of its earnings may be appropriated by the Legislature. The fund is valued at more than $15 billion. The State Investment Board (SIB) holds fiduciary responsibility for its investments, with investment services provided by RIO, while the Legacy and Budget Stabilization Fund Advisory Board provides recommendations on investment policy. Appropriation decisions are made through the legislative process.
RIO Executive Director Jodi A. Smith said, "The Legacy Fund is an important part of North Dakota's financial future, and transparency helps the public understand how it is managed." She added that the website "makes it easier for North Dakotans to learn about the fund and understand its role in our state."
The website was developed in response to House Bill 1319, enacted during the 2025 legislative session and sponsored by Reps. Bernie Satrom and Mitch Ostlie and Sen. Cole Conley. The law requires the SIB to maintain a publicly accessible website listing the fund's investments. RIO selected Tactis LLC, a Maryland-based customer experience and digital engineering firm, through a competitive procurement process to design, build and manage the site. Devii, a North Dakota technology company, serves as subcontractor and provides the data platform that receives and prepares holdings for publication.
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