Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

NMI HLDGS INC (NMIH)

355 + Investors. Track Smart Money conviction in NMIH. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +3
Streak
3Q ▲
Buyers last Q
51%

Smart Money Signals — NMIH

Based on 357 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 3 quarters in a row

last 6Q
For 3 consecutive quarters, more hedge funds added NMIH than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
🏔️

At the ownership peak (100% of max)

100% of all-time peak
357 hedge funds hold NMIH right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
📶

Steady growth — +4% more funds vs a year ago

fund count last 6Q
+13 new funds entered over the past year (+4% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡

Slight buying edge — 51% buying

179 buying169 selling
Last quarter: 179 funds bought or added vs 169 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
➡️

Steady new buyers — ~40 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 39 → 38 → 44 → 40. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

62% of holders stayed for 2+ years

■ 62% conviction (2yr+) ■ 22% medium ■ 16% new
221 out of 357 hedge funds have held NMIH for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
➡️

Steady discovery — ~40 new funds/quarter

53 → 39 → 38 → 44 → 40 new funds/Q
New funds entering each quarter: 39 → 38 → 44 → 40. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️

Deep conviction — 66% of holders stayed 2+ years

■ 66% veterans ■ 15% 1-2yr ■ 20% new
Of 358 current holders: 235 (66%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
🏆

Elite ownership — 42% AUM from top-100 funds

42% from top-100 AUM funds
55 of 357 holders are among the 100 largest funds by AUM, controlling 42% of total institutional value in NMIH. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
3.5
out of 10
Low Exit Risk
Exit risk score 3.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — NMIH

In 2026 Q1, 179 hedge funds were net buyers of NMIH (40 opened a new position, 139 added to an existing one), while 169 reduced or exited (132 trimmed, 37 sold completely) — a 51% buyer ratio, indicating a slight buying edge. This marks 3 consecutive quarters of net institutional buying — a persistent conviction signal. 42% of total institutional value in NMIH is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: +3 funds (more new holders than closures). Total institutional holders: 357.

Hedge Fund Ownership: NMIH

How many hedge funds hold NMIH — quarterly history vs. share price
Quarterly hedge fund ownership of NMIH vs. share price

Market Analysis: NMIH

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: NMIH

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy NMI HLDGS INC (NMIH) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much NMIH has moved relative to its sector benchmark (XLF) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 70d ago
NMIH
+2.1%
XLF
+5.8%

NMIH outperformed XLF by -3.7% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 25d ago
NMIH
-2.4%
XLF
+2.2%

Since the filing became public, NMIH outperformed XLF by -4.6% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

26 top-rated funds 1 high-conviction
Consensus
6.2
/ 10
breadth
×
Elite
1.5
/ 10
conviction
Hedge Fund Positioning: NMIH
355 + Investors

Track Smart Money conviction in NMIH. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 355 354 0.28%
13F Shares 73M 74M -0.3%
Total Value $2.63B $2.99B -12.1%
New Positions 39 44 -5
Increased Positions 138 135 +3
Closed Positions 38 36 +2
Reduced Positions 131 137 -6
Total Calls 1 1 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: NMIH

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Financial Highlights

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Institutional Holders (2026 Q1)

355 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in NMIH. Verified SEC 13F-HR filings.

QUARTER:
Top 25 institutional holders of NMIH — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 WINMILL & CO. INC 4.29% 396,095 $14.9M
2 MUHLENKAMP & CO INC 3.62% 366,219 $13.7M
3 Van Berkom & Associates Inc. 2.47% 1,990,397 $75K
4 DENALI ADVISORS LLC 0.87% 208,300 $7.8M
5 Pinnacle Holdings, LLC 0.77% 63,315 $2.4M
6 VIRTUS ADVISERS, LLC 0.67% 38,265 $1.4M
7 Ellis Investment Partners, LLC 0.58% 88,865 $3.3M
8 TEALWOOD ASSET MANAGEMENT INC 0.51% 30,150 $1K
9 Leeward Investments, LLC - MA 0.46% 248,632 $9.3M
10 Legend Financial Advisors, Inc. 0.45% 18,726 $702K
11 Illumine Investment Management, LLC 0.43% 14,884 $558K
12 Steadtrust LLC 0.43% 20,000 $750K
13 FRONTIER CAPITAL MANAGEMENT CO LLC 0.39% 1,016,226 $38.1M
14 Emerald Investment Advisers, LLC 0.39% 115,133 $4.3M
15 RENAISSANCE GROUP LLC 0.36% 227,456 $8.5M
16 Edgestream Partners, L.P. 0.29% 233,637 $8.8M
17 DONALD SMITH & CO., INC. 0.27% 397,599 $14.9M
18 R Squared Ltd 0.27% 12,943 $485K
19 Davidson Capital Management Inc. 0.22% 32,812 $1.2M
20 Financial Strategies Group, Inc. 0.19% 27,663 $1.2M
21 Dana Investment Advisors, Inc. 0.19% 167,675 $6.3M
22 Nebula Research & Development LLC 0.18% 49,767 $2.1M
23 Dynamic Technology Lab Private Ltd 0.18% 28,858 $1.1M
24 South Dakota Investment Council 0.17% 243,319 $9K
25 NFC Investments, LLC 0.17% 16,620 $623K
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — NMI HLDGS INC (NMIH)

What does the Smart Money Trend signal show for NMIH?

Buying streak — 3 quarters in a row: For 3 consecutive quarters, more hedge funds added NMIH than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for NMIH?

Slight buying edge — 51% buying: Last quarter: 179 funds bought or added vs 169 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for NMIH holders?

Elite ownership — 42% AUM from top-100 funds: 55 of 357 holders are among the 100 largest funds by AUM, controlling 42% of total institutional value in NMIH. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held NMIH?

62% of holders stayed for 2+ years: 221 out of 357 hedge funds have held NMIH for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy NMI HLDGS INC (NMIH) following the 2026 Q1 hedge fund 13F filings?

As of today, NMIH has moved -2.4% since the 2026 Q1 13F filing date (May 15, 2026), compared to +2.2% for the XLF sector ETF — an outperformance of -4.6%. Since the quarter end (March 31, 2026), NMIH has gained +2.1% vs +5.8% for XLF. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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