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National Bank Holdings
NBHC

122 hedge funds and large institutions have $837M invested in National Bank Holdings in 2017 Q4 according to their latest regulatory filings, with 11 funds opening new positions, 47 increasing their positions, 44 reducing their positions, and 17 closing their positions.

New
Increased
Maintained
Reduced
Closed

50% more funds holding in top 10

Funds holding in top 10: 2 → 3 (+1)

7% more repeat investments, than reductions

Existing positions increased: 47 | Existing positions reduced: 44

0.4% less ownership

Funds ownership: 95.93% → 95.53% (-0.4%)

5% less funds holding

Funds holding: 129 → 122 (-7)

9% less capital invested

Capital invested by funds: $917M → $837M (-$80.2M)

35% less first-time investments, than exits

New positions opened: 11 | Existing positions closed: 17

Holders
122
Holders Change
-7
Holders Change %
-5.43%
% of All Funds
2.77%
Holding in Top 10
3
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+50%
% of All Funds
0.07%
New
11
Increased
47
Reduced
44
Closed
17
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Millennium Management
Millennium Management
New York
+$13.2M
2
Russell Investments Group
Russell Investments Group
United Kingdom
+$10.9M
3
ACB
Aristotle Capital Boston
Massachusetts
+$5.53M
4
State Street
State Street
Massachusetts
+$4.03M
5
Brown Advisory
Brown Advisory
Maryland
+$3.73M

Top Sellers

Rank Fund Capital Flow
1
Vanguard Group
Vanguard Group
Pennsylvania
-$9.7M
2
BFC
Banc Funds Company
Illinois
-$7.17M
3
ACG
Anchorage Capital Group
New York
-$6.76M
4
T. Rowe Price Associates
T. Rowe Price Associates
Maryland
-$4M
5
Bank of New York Mellon
Bank of New York Mellon
New York
-$2.94M
Name Holding Trade Value Shares
Change 		Change in
Stake
Parallax Volatility Advisers
101
Parallax Volatility Advisers
California
$124K +$127K +3,822 New
Bank of Montreal
102
Bank of Montreal
Ontario, Canada
$120K – – –
UBS Group
103
UBS Group
Switzerland
$118K -$117K -3,506 -49%
Norges Bank
104
Norges Bank
Norway
$105K -$1.13M -34,040 -91%
Ohio Public Employees Retirement System (OPERS)
105
Ohio Public Employees Retirement System (OPERS)
Ohio
$68K – – –
AIP
106
Ameritas Investment Partners
Nebraska
$66K – – –
PGA
107
Premia Global Advisors
Florida
$54K +$55.7K +1,672 New
Zurich Cantonal Bank
108
Zurich Cantonal Bank
Switzerland
$49K +$21.4K +642 +73%
TRCT
109
Tower Research Capital (TRC)
New York
$44K -$42.3K -1,271 -48%
PHK
110
Point72 Hong Kong
Hong Kong
$12K +$12.1K +363 New
AG
111
Advisor Group
Arizona
$9K – – –
Envestnet Asset Management
112
Envestnet Asset Management
Illinois
$7K – – –
PNC Financial Services Group
113
PNC Financial Services Group
Pennsylvania
$7K +$966 +29 +16%
DCM
114
Delpha Capital Management
New York
$6K +$5.83K +175 New
PA
115
Parallel Advisors
California
$5K – – –
Royal Bank of Canada
116
Royal Bank of Canada
Ontario, Canada
$2K -$71.7K -2,153 -97%
IWM
117
IHT Wealth Management
Illinois
$1K – – –
QCG
118
Quadrant Capital Group
Ohio
$1K – – –
STA
119
Summit Trail Advisors
New York
$1K +$832 +25 New
FRA
120
Front Row Advisors
California
$1K +$966 +29 New
ACG
121
Anchorage Capital Group
New York
– -$6.76M -189,500 Closed
GLA
122
Great Lakes Advisors
Illinois
– -$2.21M -61,803 Closed
AL
123
AJO LP
Pennsylvania
– -$1.95M -54,508 Closed
NFA
124
Nationwide Fund Advisors
Ohio
– -$661K -18,523 Closed
Two Sigma Advisers
125
Two Sigma Advisers
New York
– -$489K -13,699 Closed
2 3 4
5
6

NBHC Hedge Fund Activity: Q4 2017 in Review

122 of the 4,409 institutional investors tracked by Wall St. Rank reported a position in National Bank Holdings (NBHC) for Q4 2017, worth a combined $837M — down 8.7% from $917M a quarter earlier.

Sellers outnumbered buyers: 17 funds closed out of NBHC and 11 opened new positions — a net loss of 6 holders — while 44 trimmed existing stakes and 47 added.

The largest buyer was Millennium Management, adding an estimated $13.2M. The largest seller was Vanguard Group, cutting an estimated $9.7M.

  • 122 institutional investors held National Bank Holdings (NBHC) as of Q4 2017, down from 129 in Q3 2017.
  • Funds reported $837M of National Bank Holdings stock for Q4 2017, down 8.7% quarter-over-quarter.
  • 11 funds opened new National Bank Holdings positions in Q4 2017 and 17 closed out, a net change of -6 holders.
  • The largest National Bank Holdings buyer in Q4 2017 was Millennium Management, an estimated $13.2M added.
  • The largest National Bank Holdings seller in Q4 2017 was Vanguard Group, an estimated $9.7M sold.

Based on aggregated 13F filings for Q4 2017.