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Neuberger Commodity Strategy ETF
NBCM

22 hedge funds and large institutions have $237M invested in Neuberger Commodity Strategy ETF in 2025 Q4 according to their latest regulatory filings, with 7 funds opening new positions, 12 increasing their positions, 1 reducing their positions, and 0 closing their positions.

New
Increased
Maintained
Reduced
Closed

1,100% more repeat investments, than reductions

Existing positions increased: 12 | Existing positions reduced: 1

47% more funds holding

Funds holding: 15 → 22 (+7)

6% more capital invested

Capital invested by funds: $223M → $237M (+$14.4M)

0.9% more ownership

Funds ownership: 82.46% → 83.37% (+0.9%)

Holders
22
Holders Change
+7
Holders Change %
+46.67%
% of All Funds
0.27%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
7
Increased
12
Reduced
1
Closed
–
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Northwestern Mutual Wealth Management
Northwestern Mutual Wealth Management
Wisconsin
+$10.4M
2
Wealth Enhancement Advisory Services
Wealth Enhancement Advisory Services
Minnesota
+$8.15M
3
PAG
Private Advisor Group
New Jersey
+$1.27M
4
Neuberger Berman Group
Neuberger Berman Group
New York
+$988K
5
LPL Financial
LPL Financial
California
+$410K

Top Sellers

Rank Fund Capital Flow
1
Raymond James Financial
Raymond James Financial
Florida
-$2.39K
Name Holding Trade Value Shares
Change 		Change in
Stake
Wealth Enhancement Advisory Services
1
Wealth Enhancement Advisory Services
Minnesota
$114M +$8.15M +340,301 +7%
Neuberger Berman Group
2
Neuberger Berman Group
New York
$83.4M +$988K +41,278 +1%
Northwestern Mutual Wealth Management
3
Northwestern Mutual Wealth Management
Wisconsin
$24.1M +$10.4M +433,290 +69%
PAG
4
Private Advisor Group
New Jersey
$4.89M +$1.27M +52,945 +32%
IWP
5
IAG Wealth Partners
Wisconsin
$3.38M +$279K +11,671 +8%
LPL Financial
6
LPL Financial
California
$3.26M +$410K +17,146 +13%
Stifel Financial
7
Stifel Financial
Missouri
$2.41M +$6.61K +276 +0.3%
Osaic Holdings
8
Osaic Holdings
Arizona
$622K +$38.8K +1,620 +6%
VT
9
Vise Technologies
New York
$411K +$207K +8,662 +91%
NAM
10
NorthCrest Asset Manangement
Minnesota
$338K +$351K +14,647 New
Raymond James Financial
11
Raymond James Financial
Florida
$333K -$2.39K -100 -0.7%
Cambridge Investment Research Advisors
12
Cambridge Investment Research Advisors
Iowa
$236K +$13.3K +556 +6%
BlackRock
13
BlackRock
New York
$141K +$149K +6,234 New
WETS
14
Wealth Enhancement Trust Services
South Dakota
$92.3K +$97.7K +4,080 New
Royal Bank of Canada
15
Royal Bank of Canada
Ontario, Canada
$64K +$67.8K +2,832 New
Morgan Stanley
16
Morgan Stanley
New York
$27.5K +$24 +1 +0.1%
US Bancorp
17
US Bancorp
Minnesota
$19.7K – – –
MCM
18
MAI Capital Management
Ohio
$17K +$18K +751 New
GSWM
19
Golden State Wealth Management
California
$11.2K – – –
CWM
20
Consultiva Wealth Management
Puerto Rico
$9.62K +$10.2K +425 New
CTWM
21
Cherry Tree Wealth Management
Minnesota
$1.9K +$2.01K +84 New
RFC
22
Regions Financial Corp
Alabama
$15 +$3.16K +132 +25%

NBCM Hedge Fund Activity: Q4 2025 in Review

22 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Neuberger Commodity Strategy ETF (NBCM) for Q4 2025, worth a combined $237M — up 6.4% from $223M a quarter earlier.

Buyers outnumbered sellers: 7 funds opened new NBCM positions and 0 closed out — a net gain of 7 holders — while 12 added to existing stakes and 1 trimmed.

The largest buyer was Northwestern Mutual Wealth Management, adding an estimated $10.4M. The largest seller was Raymond James Financial, cutting an estimated $2.39K.

  • 22 institutional investors held Neuberger Commodity Strategy ETF (NBCM) as of Q4 2025, up from 15 in Q3 2025.
  • Funds reported $237M of Neuberger Commodity Strategy ETF stock for Q4 2025, up 6.4% quarter-over-quarter.
  • 7 funds opened new Neuberger Commodity Strategy ETF positions in Q4 2025 and 0 closed out, a net change of +7 holders.
  • The largest Neuberger Commodity Strategy ETF buyer in Q4 2025 was Northwestern Mutual Wealth Management, an estimated $10.4M added.
  • The largest Neuberger Commodity Strategy ETF seller in Q4 2025 was Raymond James Financial, an estimated $2.39K sold.

Based on aggregated 13F filings for Q4 2025.