National Bank Holdings
NBHC
207 hedge funds and large institutions have $1.43B invested in National Bank Holdings in 2025 Q3 according to their latest regulatory filings, with 33 funds opening new positions, 88 increasing their positions, 56 reducing their positions, and 14 closing their positions.
136% more first-time investments, than exits
New positions opened: 33 | Existing positions closed: 14
57% more repeat investments, than reductions
Existing positions increased: 88 | Existing positions reduced: 56
10% more funds holding
Funds holding: 188 → 207 (+19)
3% more capital invested
Capital invested by funds: $1.39B → $1.43B (+$37.9M)
0.11% more ownership
Funds ownership: 97.04% → 97.15% (+0.11%)
0% more funds holding in top 10
Funds holding in top 10: 1 → 1 (0)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Assenagon Asset Management
Senningerberg,
Luxembourg
|
+$26M |
| 2 |
DRZID
DePrince Race & Zollo Inc (DRZ)
Winter Park,
Florida
|
+$14.3M |
| 3 |
Nuveen
Charlotte,
North Carolina
|
+$7.64M |
| 4 |
Two Sigma Investments
New York
|
+$7.02M |
| 5 |
JAM
Jacobs Asset Management
New York
|
+$6.59M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Victory Capital Management
San Antonio,
Texas
|
-$33.5M |
| 2 |
T. Rowe Price Investment Management
Baltimore,
Maryland
|
-$28M |
| 3 |
Wellington Management Group
Boston,
Massachusetts
|
-$27.9M |
| 4 |
Boston Partners
Boston,
Massachusetts
|
-$15.1M |
| 5 |
Millennium Management
New York
|
-$13.8M |
NBHC Hedge Fund Activity: Q3 2025 in Review
207 of the 7,640 institutional investors tracked by Wall St. Rank reported a position in National Bank Holdings (NBHC) for Q3 2025, worth a combined $1.43B — up 2.7% from $1.39B a quarter earlier.
Buyers outnumbered sellers: 33 funds opened new NBHC positions and 14 closed out — a net gain of 19 holders — while 88 added to existing stakes and 56 trimmed.
The largest buyer was Assenagon Asset Management, opening a new position worth an estimated $26M. The largest seller was Victory Capital Management, cutting an estimated $33.5M.
- 207 institutional investors held National Bank Holdings (NBHC) as of Q3 2025, up from 188 in Q2 2025.
- Funds reported $1.43B of National Bank Holdings stock for Q3 2025, up 2.7% quarter-over-quarter.
- 33 funds opened new National Bank Holdings positions in Q3 2025 and 14 closed out, a net change of +19 holders.
- The largest National Bank Holdings buyer in Q3 2025 was Assenagon Asset Management, an estimated $26M added.
- The largest National Bank Holdings seller in Q3 2025 was Victory Capital Management, an estimated $33.5M sold.
Based on aggregated 13F filings for Q3 2025.