The North Dakota Retirement and Investment Office (RIO) launched a new transparency website today for the Legacy Fund, North Dakota’s sovereign wealth fund. The interactive resource allows the public to explore the fund’s history, governance, investment holdings and financial impact on the state.
Available at legacyfund.nd.gov, the website brings together information about how the fund was established and continues to evolve, how its assets are invested, and how the Legislature has appropriated its earnings. Visitors can learn about the fund’s governance structure, follow a historical timeline, explore the In-State Investment Program, and access news, reports and performance information.
The site’s holdings page features an interactive world map where visitors can select a country to explore associated holdings. Visitors can also filter holdings by asset class and sector, search by company name, and download the data. These tools provide greater insight into the composition of the fund and how its assets are invested.
“The Legacy Fund is an important part of North Dakota’s financial future, and transparency helps the public understand how it is managed,” said RIO Executive Director Jodi A. Smith. “This website makes it easier for North Dakotans to learn about the fund and understand its role in our state.”
Established through a 2010 constitutional amendment, the Legacy Fund receives 30% of North Dakota’s oil and gas production and extraction tax revenues. The fund is invested to preserve and grow its assets for future generations, while a portion of its earnings may be appropriated by the Legislature.
The Legacy Fund is valued at more than $15 billion. The State Investment Board (SIB) has fiduciary responsibility for the fund’s investments, with investment services provided by RIO. The Legacy and Budget Stabilization Fund Advisory Board provides recommendations on investment policy. Decisions regarding the appropriation of fund earnings are made through the legislative process.
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 legislation requires the SIB to maintain a publicly accessible website listing the Legacy 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 website. Devii, a North Dakota technology company, serves as a subcontractor and provides the data platform that receives and prepares the fund’s holdings for publication.