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NMI Holdings
NMIH

351 hedge funds and large institutions have $2.73B invested in NMI Holdings in 2025 Q1 according to their latest regulatory filings, with 51 funds opening new positions, 134 increasing their positions, 125 reducing their positions, and 25 closing their positions.

New
Increased
Maintained
Reduced
Closed

684% more call options, than puts

Call options by funds: $1.61M | Put options by funds: $205K

104% more first-time investments, than exits

New positions opened: 51 | Existing positions closed: 25

100% more funds holding in top 10

Funds holding in top 10: 2 → 4 (+2)

7% more funds holding

Funds holding: 328 → 351 (+23)

1.62% more ownership

Funds ownership: 94.83% → 96.44% (+1.6%)

7% more repeat investments, than reductions

Existing positions increased: 134 | Existing positions reduced: 125

1% less capital invested

Capital invested by funds: $2.76B → $2.73B (-$30.9M)

Holders
351
Holders Change
+23
Holders Change %
+7.01%
% of All Funds
4.71%
Holding in Top 10
4
Holding in Top 10 Change
+2
Holding in Top 10 Change %
+100%
% of All Funds
0.05%
New
51
Increased
134
Reduced
125
Closed
25
Calls
$1.61M
Puts
$205K
Net Calls
+$1.4M
Net Calls Change
+$764K

Top Buyers

1
Millennium Management
Millennium Management
New York
+$35.3M
2
Assenagon Asset Management
Assenagon Asset Management
Luxembourg
+$30.7M
3
GAM
Goldentree Asset Management
New York
+$18.6M
4
Public Sector Pension Investment Board (PSP Investments)
Public Sector Pension Investment Board (PSP Investments)
Quebec, Canada
+$12.6M
5
Aberdeen Group
Aberdeen Group
United Kingdom
+$10.8M

Top Sellers

1
Fidelity Investments
Fidelity Investments
Massachusetts
-$42.7M
2
BlackRock
BlackRock
New York
-$22M
3
DSC
Donald Smith & Co
New York
-$16.7M
4
Invesco
Invesco
Georgia
-$13.2M
5
State Street
State Street
Massachusetts
-$10.1M
Name Holding Trade Value Shares
Change 		Change in
Stake
PFSRSONJ
201
Police & Firemen's Retirement System of New Jersey
New Jersey
$602K – – –
NW
202
NewEdge Wealth
Pennsylvania
$599K +$109K +3,008 +22%
SA
203
Sanctuary Advisors
Indiana
$590K -$921K -25,334 -61%
US Bancorp
204
US Bancorp
Minnesota
$577K -$27K -743 -4%
MWM
205
Moran Wealth Management
Florida
$572K +$12.7K +350 +2%
IFU
206
iSAM Funds (UK)
United Kingdom
$559K +$564K +15,501 New
ECM
207
Evergreen Capital Management
Washington
$559K +$7.6K +209 +1%
Bank of Montreal
208
Bank of Montreal
Ontario, Canada
$549K +$117K +3,226 +27%
QCG
209
Quadrant Capital Group
Ohio
$541K +$328K +9,018 +150%
Mackenzie Financial
210
Mackenzie Financial
Ontario, Canada
$536K +$59.2K +1,629 +12%
SG Americas Securities
211
SG Americas Securities
New York
$530K +$534K +14,692 New
SM
212
Sciencast Management
New Jersey
$529K +$534K +14,680 New
TC
213
TwinBeech Capital
New York
$529K +$278K +7,656 +109%
Mariner
214
Mariner
Kansas
$525K -$76.3K -2,099 -13%
IIM
215
Illumine Investment Management
Washington
$518K +$48.3K +1,327 +10%
Janney Montgomery Scott
216
Janney Montgomery Scott
Pennsylvania
$512K -$24.5K -675 -5%
BF
217
BOK Financial
Oklahoma
$503K -$5.64K -155 -1%
Stifel Financial
218
Stifel Financial
Missouri
$502K -$27.5K -755 -5%
PD
219
Point72 (DIFC)
United Arab Emirates
$495K +$191K +5,245 +62%
DB
220
Danske Bank
Denmark
$473K -$1.01M -27,839 -68%
CFG
221
Citizens Financial Group
Rhode Island
$466K +$470K +12,933 New
Squarepoint
222
Squarepoint
New York
$431K -$218K -5,982 -33%
CAU
223
Caxton Associates (UK)
$428K +$432K +11,880 New
CMF
224
Counterpoint Mutual Funds
California
$422K +$425K +11,693 New
Wealth Enhancement Advisory Services
225
Wealth Enhancement Advisory Services
Minnesota
$416K +$200K +5,492 +91%
7 8
9
10 11

NMIH Hedge Fund Activity: Q1 2025 in Review

351 of the 7,457 institutional investors tracked by Wall St. Rank reported a position in NMI Holdings (NMIH) for Q1 2025, worth a combined $2.73B — down 1.1% from $2.76B a quarter earlier.

Buyers outnumbered sellers: 51 funds opened new NMIH positions and 25 closed out — a net gain of 26 holders — while 134 added to existing stakes and 125 trimmed.

The largest buyer was Millennium Management, adding an estimated $35.3M. The largest seller was Fidelity Investments, cutting an estimated $42.7M.

  • 351 institutional investors held NMI Holdings (NMIH) as of Q1 2025, up from 328 in Q4 2024.
  • Funds reported $2.73B of NMI Holdings stock for Q1 2025, down 1.1% quarter-over-quarter.
  • 51 funds opened new NMI Holdings positions in Q1 2025 and 25 closed out, a net change of +26 holders.
  • The largest NMI Holdings buyer in Q1 2025 was Millennium Management, an estimated $35.3M added.
  • The largest NMI Holdings seller in Q1 2025 was Fidelity Investments, an estimated $42.7M sold.

Based on aggregated 13F filings for Q1 2025.