What is the 13F Pro Quality Score for NODK?

13F Pro ranks NI Holdings, Inc. (NODK) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View NODK's current score at https://13fpro.ai/research/NODK (free sign-up required for the full ranking).

Which hedge funds own the most NODK stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of NODK include Newtyn Management,, BlackRock,, DIMENSIONAL FUND ADVISORS. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/research/NODK as soon as new 13F filings post.

Where does 13F Pro source NODK data?

All NI Holdings, Inc. fundamentals and ownership data come directly from SEC EDGAR. NI Holdings, Inc. files with the SEC under CIK 1681206. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is NODK in?

NI Holdings, Inc. (NODK) is classified in the Financials sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/financials.

How often is NODK research updated on 13F Pro?

NODK's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

NI Holdings, Inc.(NODK)Stock Analysis

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13F Pro Quality Score

47.3/100

Rank #1,603 of 2,879 stocks

View Financials peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.

Revenue Growth

73.1/100

Profitability

60.0/100

Balance Sheet

44.3/100

Earnings Quality

22.4/100

Free Cash Flow

18.4/100

Institutional Flow

34.7/100

Revenue Scale

28.9/100

Dilution Risk

82.7/100

NODK Stock Analysis & AI Quality Score

AI stock analysis and institutional research for NI Holdings, Inc. (NODK), a Financials sector company. 13F Pro's AI-powered ranking engine scores NODK at 47.3/100 on a 32-signal composite quality model, placing it at rank #1,603 of 2,879 stocks — the bottom half of the AI-ranked universe. Areas of concern include free cash flow (18.4) and earnings quality (22.4), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q1 2026), NI Holdings, Inc. reports quarterly revenue of $59.6M, net income of $12.5M, free cash flow of $-1.9M. Top institutional holders of NODK by reported 13-F value include Newtyn Management,, BlackRock,, DIMENSIONAL FUND ADVISORS, based on the most recent SEC filings. NODK trades on the Nasdaq exchange and files with the SEC under CIK 1681206. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate NODK daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for NI Holdings, Inc. directly from SEC EDGAR. NI Holdings, Inc.'s 13F Pro composite quality score has ranged between 10 and 70 since 2021, currently 47.3 — a declining long-term trajectory across 28 quarterly and live scoring snapshots.

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Fun facts about NI Holdings, Inc.

Quirks, history, and lore behind NODK — the kind of stuff that makes a stock memorable.

1
The Basics
A property and casualty insurance company · small-cap · listed on Nasdaq · headquartered in the upper Midwest.
2
The Numbers
Annual revenue in the range of $300–400 million, with a focus on niche and specialty insurance lines that bigger carriers tend to overlook.
3
The History
Rooted in North Dakota insurance tradition, it went public relatively recently as a mutual-to-stock conversion — a process called demutualization — giving policyholders a stake in the company.
4
The Secret
It specializes in nonstandard auto, farm and crop, and specialty personal lines — the kind of coverage that's too regional or too quirky for the national giants to bother with.
5
The Lore
Its roots trace back to Nodak Mutual Group, a name that basically tells you exactly which state it calls home — and it still leans hard into serving rural and agricultural communities.
6
The Giveaway
Spun out of Nodak Mutual, based in Fargo, North Dakota, and trading under a ticker that's basically a love letter to the Peace Garden State.

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Revenue

Q1 2026

$59.6M

Net Income

Q1 2026

$12.5M

Free Cash Flow

Q1 2026

$-1.9M

D/E Ratio

Q1 2026

0.01

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

-6.2% YoY

$285.1MFY 2025

FY20 $306.4MFY22 $267.8MFY23 $304.0MFY25 $285.1M

Net Income

-90.2% YoY

$-10.4MFY 2025

FY20 $40.4MFY22 $-53.1MFY23 $-5.5MFY25 $-10.4M

EPS (Diluted)

-92.3% YoY

$-0.50FY 2025

FY20 $1.84FY22 $-2.49FY23 $-0.26FY25 $-0.50

Total Assets

-22.7% YoY

$506.0MFY 2025

FY20 $617.6MFY22 $614.2MFY23 $654.9MFY25 $506.0M

Total Debt

+0.0% YoY

$2.4MFY 2025

FY20 —FY22 —FY23 $2.4MFY25 $2.4M

Op. Cash Flow

-129.9% YoY

$-15.3MFY 2025

FY20 $51.0MFY22 $-15.3MFY23 $51.0MFY25 $-15.3M

Metric	FY 2025	FY 2023	FY 2022	FY 2020	FY 2019	FY 2018
Revenue	$285.1M -6.2%	$304.0M +13.5%	$267.8M -12.6%	$306.4M +13.1%	$270.8M +27.5%	$212.4M
Net Income	$-10.4M -90.2%	$-5.5M +89.7%	$-53.1M -231.5%	$40.4M +53.0%	$26.4M -15.1%	$31.1M
EPS (Diluted)	$-0.50 -92.3%	$-0.26 +89.6%	$-2.49 -235.3%	$1.84 +54.6%	$1.19 -14.4%	$1.39
Total Assets	$506.0M -22.7%	$654.9M +6.6%	$614.2M -0.5%	$617.6M +21.5%	$508.2M +10.8%	$458.5M
Total Debt	$2.4M +0.0%	$2.4M	—	—	—	—
Operating Cash Flow	$-15.3M -129.9%	$51.0M +433.6%	$-15.3M -130.0%	$51.0M +98.8%	$25.7M +22.5%	$21.0M

AI Insight: NODK Financial Trends

NODK's net income swings wildly quarter to quarter, with Q1 2026 showing a $13M profit but revenue declining to a multi-period low of $60M.

• Revenue has declined from $89M in Q3 2024 to $60M in Q1 2026, a roughly 33% contraction over six quarters.

• Net income remains highly volatile: losses of $16M and $12M in Q2 2024 and Q2 2025 contrast with gains of $13M in Q1 2026.

• Operating cash flow deteriorated sharply to -$45M in Q3 2025 before partially recovering to -$2M in Q1 2026.

• Total debt has held flat at $2M across all reported quarters, indicating minimal financial leverage.

⚠ Revenue has fallen four of the last five quarters; a continuation below $60M would signal structural top-line erosion.

⚠ Operating cash flow swung to -$45M in Q3 2025 — the magnitude of that outflow warrants scrutiny for recurrence.

⚠ Equity data is available only for Q1 2026 at $250M; absence of prior equity figures limits balance-sheet trend analysis.

AI Insight: NODK Ratio Trends

Q1 2026 delivered NODK's strongest quarterly profitability in at least two years, but volatile swings make durability the key question.

• Operating margin surged to 26.4% in Q1 2026, a sharp recovery from -4.8% in Q4 2025 and -20.2% in Q2 2025.

• Net profit margin reached 21.0% in Q1 2026, versus losses in five of the prior six quarters.

• TTM operating margin remains negative at -1.6%, reflecting how recent losses weigh on the trailing twelve-month view.

⚠ Margins have swung from -20.2% to +26.4% within three quarters — extreme volatility raises questions about earnings quality and sustainability.

⚠ ROE, ROA, and ROIC data are absent for most quarters, limiting trend visibility on capital efficiency outside Q1 2026.

⚠ Q2 2025's -20.2% operating margin — likely catastrophe-loss driven — could recur seasonally; watch Q2 2026 closely.

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Available Research

13F Pro tracks comprehensive data for NI Holdings, Inc. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of NODK

Newtyn Management, LLC
$8.6M670,000 sh
BlackRock, Inc.
$6.8M528,802 sh
DIMENSIONAL FUND ADVISORS LP
$4.4M341,116 sh
VANGUARD CAPITAL MANAGEMENT LLC
$3.8M294,798 sh
TCW GROUP INC
$2.7M210,121 sh
GEODE CAPITAL MANAGEMENT, LLC
$2.0M153,703 sh
STATE STREET CORP
$1.8M138,755 sh
Minerva Advisors LLC
$1.7M129,900 sh
Orchard Capital Management, LLC
$1.5M119,629 sh
RENAISSANCE TECHNOLOGIES LLC
$1.1M89,191 sh

Fund	Value	Shares
Newtyn Management, LLC	$8.6M	670,000
BlackRock, Inc.	$6.8M	528,802
DIMENSIONAL FUND ADVISORS LP	$4.4M	341,116
VANGUARD CAPITAL MANAGEMENT LLC	$3.8M	294,798
TCW GROUP INC	$2.7M	210,121
GEODE CAPITAL MANAGEMENT, LLC	$2.0M	153,703
STATE STREET CORP	$1.8M	138,755
Minerva Advisors LLC	$1.7M	129,900
Orchard Capital Management, LLC	$1.5M	119,629
RENAISSANCE TECHNOLOGIES LLC	$1.1M	89,191

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Is NODK a good stock to buy?

13F Pro's AI-powered analysis of NI Holdings, Inc. (NODK) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Financials sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for NODK are available on the NODK stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own NODK?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling NODK. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of NI Holdings, Inc.'s investment landscape.