NMI Holdings, Inc. (NMIH) shareholders
NMIHNasdaqSurety InsuranceFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 6, 2026Score 12/3021% below fair value
$39.05+0.32 (+0.83%)
Close on Nov 11, 2026Market cap $2.94BP/E 7.7Yield –
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
99.9%
75M of 75M shares
Institutional holders
357
42 new, 43 sold out
Net institutional buying
-1M
In Q2 2026
Insider trades, 12 months
0 buys · 13 sales
Net sold $16.96M
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| BlackRock, Inc. | 11,919,771 | 15.20% | 13G (passive) amendment | Mar 31, 2025 |
| Dimensional Fund Advisors LP | 4,567,372 | 5.60% | 13G (passive) | Dec 29, 2023 |
| Vanguard Capital Management | 4,010,885 | 5.26% | 13G (passive) | Mar 31, 2026 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of NMIH | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| BlackRock, Inc. | 13,189,334 | 17.53% | $541.95M | +326,180 | 0.01% |
| Dimensional Fund Advisors LP | 4,665,910 | 6.20% | $191.72M | +314,102 | 0.03% |
| State Street Corp | 3,478,523 | 4.62% | $142.93M | +175,276 | 0.00% |
| Vanguard Capital Management LLC | 3,420,198 | 4.55% | $140.54M | −10,255 | 0.00% |
| American Century Companies Inc | 3,046,624 | 4.05% | $125.19M | +326,477 | 0.06% |
| Vanguard Portfolio Management LLC | 2,901,852 | 3.86% | $119.24M | −104,826 | 0.01% |
| Geode Capital Management, LLC | 2,110,234 | 2.81% | $86.72M | +95,606 | 0.00% |
| Nomura Asset Management International Inc. | 1,883,225 | 2.50% | $77.38M | +215,297 | 0.12% |
| Van Berkom & Associates Inc. | 1,859,025 | 2.47% | $76.39M | −2,121,769 | 2.46% |
| Assenagon Asset Management S.A. | 1,359,678 | 1.81% | $55.87M | +633,123 | 0.03% |
| Fuller & Thaler Asset Management, Inc. | 1,314,375 | 1.75% | $54.01M | +243,795 | 0.15% |
| FMR LLC | 1,275,890 | 1.70% | $52.43M | +116,993 | 0.00% |
| Goldman Sachs Group Inc | 1,271,316 | 1.69% | $52.24M | +34,553 | 0.00% |
| Bank Of America Corp /De/ | 1,208,661 | 1.61% | $49.66M | −95,972 | 0.00% |
| JPMorgan Chase & Co | 1,184,503 | 1.57% | $48.96M | +308,077 | 0.00% |
| Morgan Stanley | 1,137,279 | 1.51% | $46.73M | +138,420 | 0.00% |
| Charles Schwab Investment Management Inc | 1,011,979 | 1.35% | $41.58M | +26,314 | 0.01% |
| Aqr Capital Management LLC | 954,073 | 1.27% | $39.20M | +235,743 | 0.01% |
| Donald Smith & Co., Inc. | 882,495 | 1.17% | $36.26M | +484,896 | 0.64% |
| Northern Trust Corp | 877,573 | 1.17% | $36.06M | +41,977 | 0.00% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 357 | 75M | 99.9% | 42 / 147 | 115 / 43 | 7M | 7M |
| Q1 2026 | 362 | 76M | 100.0% | 40 / 142 | 136 / 33 | 15M | 5M |
| Q4 2025 | 361 | 74M | 97.9% | 45 / 141 | 137 / 29 | 6M | 6M |
| Q3 2025 | 353 | 75M | 99.6% | 36 / 135 | 132 / 29 | 4M | 4M |
| Q2 2025 | 351 | 75M | 100.0% | 41 / 143 | 128 / 39 | 7M | 7M |
| Q1 2025 | 352 | 76M | 100.0% | 53 / 133 | 125 / 25 | 8M | 7M |
| Q4 2024 | 328 | 75M | 100.0% | 40 / 139 | 104 / 40 | 5M | 7M |
| Q3 2024 | 333 | 77M | 100.0% | 53 / 117 | 120 / 18 | 18M | 6M |
| Q2 2024 | 300 | 79M | 100.0% | 41 / 106 | 110 / 33 | 6M | 9M |
| Q1 2024 | 296 | 82M | 100.0% | 36 / 111 | 104 / 17 | 9M | 6M |
| Q4 2023 | 279 | 80M | 100.0% | 42 / 99 | 105 / 18 | 9M | 6M |
| Q3 2023 | 258 | 77M | 100.0% | 43 / 91 | 99 / 16 | 5M | 6M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
352 funds held NMIH in Q2 2026, 48% of their shares through ETFs. Each fund counts once per quarter, from its quarter-end report.
| Fund | Shares | % of NMIH | Value | % of fund | As of |
|---|---|---|---|---|---|
| iShares Core S&P Small-Cap ETF | 4,577,488 | 6.09% | $188.09M | 0.17% | Jun 30, 2026 |
| Avantis U.S. Small Cap Value ETF | 2,487,003 | 3.31% | $89.28M | 0.33% | May 31, 2026 |
| Vanguard Total Stock Market Index Fund | 2,415,181 | 3.21% | $99.24M | 0.00% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 1,974,195 | 2.62% | $81.12M | 0.10% | Jun 30, 2026 |
| Nomura Small Cap Core Fund | 1,270,460 | 1.69% | $45.61M | 0.83% | May 29, 2026 |
| Fullerthaler Behavioral Small Cap Equity | 1,261,677 | 1.68% | $51.84M | 0.41% | Jun 30, 2026 |
| Vanguard Extended Market Index Fund | 870,534 | 1.16% | $35.77M | 0.04% | Jun 30, 2026 |
| Fidelity Small Cap Index Fund | 838,954 | 1.12% | $37.17M | 0.11% | Jul 31, 2026 |
| U.S. Small Cap Value Portfolio | 751,715 | 1.00% | $33.30M | 0.17% | Jul 31, 2026 |
| iShares Russell 2000 Value ETF | 734,086 | 0.98% | $30.16M | 0.21% | Jun 30, 2026 |
| State Street(R) SPDR(R) Portfolio S&P 600(TM) Small Cap ETF | 699,113 | 0.93% | $28.73M | 0.17% | Jun 30, 2026 |
| Vanguard Strategic Equity Fund | 686,586 | 0.91% | $28.21M | 0.23% | Jun 30, 2026 |
| iShares S&P Small-Cap 600 Growth ETF | 683,686 | 0.91% | $28.09M | 0.34% | Jun 30, 2026 |
| U.S. Targeted Value Portfolio | 653,363 | 0.87% | $28.94M | 0.17% | Jul 31, 2026 |
| Dimensional U.S. Targeted Value ETF | 552,048 | 0.73% | $24.46M | 0.17% | Jul 31, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Adam Pollitzer | Chief Executive Officer, Director | 630,048 | 0.84% | Sep 9, 2026 |
| Bradley M. Shuster | Executive Chairman, Director | 936,982 | 1.25% | Mar 25, 2026 |
| Nicholas Daniel Realmuto | SVP, Controller | 17,971 | 0.02% | Sep 15, 2026 |
| Aurora Swithenbank | EVP, Chief Financial Officer | 50,734 | 0.07% | Aug 12, 2026 |
| Robert Owen Smith | EVP, Chief Risk Officer | 178,993 | 0.24% | Aug 5, 2026 |
| William J. Leatherberry | Chief Admin. Officer & GC | 342,748 | 0.46% | Feb 27, 2026 |
| Mohammad Nawaz Yousaf | EVP, Chief of Ops and Tech | 71,642 | 0.10% | Feb 18, 2026 |
| Norman Peter Fitzgerald | EVP, Chief Sales Officer | 75,178 | 0.10% | Feb 18, 2026 |
| Michael Curry Montgomery | Director | 69,026 | 0.09% | May 20, 2026 |
| Renu Agrawal | Director | 8,663 | 0.01% | May 18, 2026 |
| Steven Scheid | Director | 83,745 | 0.11% | May 18, 2026 |
| Priya Cherian Huskins | Director | 36,164 | 0.05% | May 18, 2026 |
| Lynn S. McCreary | Director | 48,757 | 0.06% | May 18, 2026 |
| John C. Erickson | Director | 21,832 | 0.03% | May 18, 2026 |
| Michael J. Embler | Director | 50,558 | 0.07% | May 18, 2026 |
| Regina Muehlhauser | Director | 69,292 | 0.09% | May 9, 2025 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Nicholas Daniel Realmuto SVP, Controller | Sep 13, 2026 | Tax withholding | −302 | – | – | 7,843 |
| Adam Pollitzer Chief Executive Officer, Director | Sep 4, 2026 | Option exercise | +25,426 | $22.19 | $564.20K | 331,392 |
| Adam Pollitzer Chief Executive Officer, Director | Sep 4, 2026 | Option exercise | +19,435 | $16.00 | $310.96K | 305,966 |
| Adam Pollitzer Chief Executive Officer, Director | Sep 4, 2026 | Option exercise | +16,264 | $18.70 | $304.14K | 286,531 |
| Adam Pollitzer Chief Executive Officer, Director | Sep 4, 2026 | Sale | −172,706 | $44.86 | $7.75M | 270,267 |
| Aurora Swithenbank EVP, Chief Financial Officer | Aug 11, 2026 | Sale | −11,662 | $44.51 | $519.08K | 50,734 |
| Robert Owen Smith EVP, Chief Risk Officer | Aug 3, 2026 | Sale | −12,000 | $44.65 | $535.80K | 96,381 |
| Michael Curry Montgomery Director | May 19, 2026 | Sale | −1,554 | $37.90 | $58.90K | 69,026 |
| Michael J. Embler Director | May 14, 2026 | Award | +4,512 | – | – | 50,558 |
| Lynn S. McCreary Director | May 14, 2026 | Award | +4,512 | – | – | 48,757 |
| Michael Curry Montgomery Director | May 14, 2026 | Award | +4,512 | – | – | 70,580 |
| Priya Cherian Huskins Director | May 14, 2026 | Award | +4,512 | – | – | 36,164 |
| John C. Erickson Director | May 14, 2026 | Award | +4,512 | – | – | 21,832 |
| Steven Scheid Director | May 14, 2026 | Award | +4,512 | – | – | 8,951 |
| Renu Agrawal Director | May 14, 2026 | Award | +4,512 | – | – | 8,663 |
| Aurora Swithenbank EVP, Chief Financial Officer | May 8, 2026 | Tax withholding | −2,922 | – | – | 62,396 |
| Aurora Swithenbank EVP, Chief Financial Officer | May 1, 2026 | Tax withholding | −9,135 | – | – | 65,318 |
| Bradley M. Shuster Executive Chairman, Director | Mar 24, 2026 | Sale | −18,953 | $37.35 | $707.89K | 415,411 |
| Bradley M. Shuster Executive Chairman, Director | Mar 23, 2026 | Tax withholding | −36,203 | – | – | 434,364 |
| Bradley M. Shuster Executive Chairman, Director | Mar 23, 2026 | Option exercise | +55,156 | $11.10 | $612.23K | 470,567 |
| Bradley M. Shuster Executive Chairman, Director | Mar 19, 2026 | Sale | −18,996 | $37.05 | $703.80K | 415,411 |
| Bradley M. Shuster Executive Chairman, Director | Mar 18, 2026 | Tax withholding | −36,162 | – | – | 434,407 |
| Bradley M. Shuster Executive Chairman, Director | Mar 18, 2026 | Option exercise | +55,158 | $11.10 | $612.25K | 470,569 |
| Nicholas Daniel Realmuto SVP, Controller | Mar 15, 2026 | Award | +3,882 | – | – | 11,198 |
| Nicholas Daniel Realmuto SVP, Controller | Mar 15, 2026 | Tax withholding | −1,042 | – | – | 10,156 |
| Nicholas Daniel Realmuto SVP, Controller | Mar 15, 2026 | Tax withholding | −772 | – | – | 9,384 |
| Nicholas Daniel Realmuto SVP, Controller | Mar 15, 2026 | Tax withholding | −674 | – | – | 8,145 |
| Nicholas Daniel Realmuto SVP, Controller | Mar 15, 2026 | Tax withholding | −565 | – | – | 8,819 |
| Bradley M. Shuster Executive Chairman, Director | Mar 12, 2026 | Sale | −18,976 | $36.58 | $694.14K | 415,411 |
| Bradley M. Shuster Executive Chairman, Director | Mar 11, 2026 | Option exercise | +55,158 | $11.10 | $612.25K | 470,569 |
| Bradley M. Shuster Executive Chairman, Director | Mar 11, 2026 | Tax withholding | −36,182 | – | – | 434,387 |
| Bradley M. Shuster Executive Chairman, Director | Mar 5, 2026 | Sale | −19,430 | $38.91 | $756.02K | 415,411 |
| Bradley M. Shuster Executive Chairman, Director | Mar 4, 2026 | Tax withholding | −35,728 | – | – | 434,841 |
| Bradley M. Shuster Executive Chairman, Director | Mar 4, 2026 | Option exercise | +55,158 | $11.10 | $612.25K | 470,569 |
| William J. Leatherberry Chief Admin. Officer & GC | Feb 27, 2026 | Other | −4,900 | – | – | 159,334 |
| Bradley M. Shuster Executive Chairman, Director | Feb 26, 2026 | Sale | −19,557 | $39.85 | $779.35K | 415,411 |
| Bradley M. Shuster Executive Chairman, Director | Feb 25, 2026 | Tax withholding | −35,601 | – | – | 434,968 |
| Bradley M. Shuster Executive Chairman, Director | Feb 25, 2026 | Option exercise | +55,158 | $11.10 | $612.25K | 470,569 |
| Bradley M. Shuster Executive Chairman, Director | Feb 18, 2026 | Sale | −55,000 | $39.63 | $2.18M | 415,411 |
| Bradley M. Shuster Executive Chairman, Director | Feb 18, 2026 | Option exercise | +55,000 | $11.10 | $610.50K | 470,411 |
| Norman Peter Fitzgerald EVP, Chief Sales Officer | Feb 17, 2026 | Sale | −22,500 | $39.94 | $898.65K | 32,445 |
| Mohammad Nawaz Yousaf EVP, Chief of Ops and Tech | Feb 17, 2026 | Sale | −16,000 | $39.89 | $638.24K | 38,733 |
| Aurora Swithenbank EVP, Chief Financial Officer | Feb 12, 2026 | Tax withholding | −3,363 | – | – | 74,453 |
| Bradley M. Shuster Executive Chairman, Director | Feb 12, 2026 | Tax withholding | −4,921 | – | – | 415,411 |
| Mohammad Nawaz Yousaf EVP, Chief of Ops and Tech | Feb 12, 2026 | Tax withholding | −1,595 | – | – | 54,733 |
| Robert Owen Smith EVP, Chief Risk Officer | Feb 12, 2026 | Tax withholding | −2,981 | – | – | 108,381 |
| Norman Peter Fitzgerald EVP, Chief Sales Officer | Feb 12, 2026 | Tax withholding | −1,919 | – | – | 54,945 |
| William J. Leatherberry Chief Admin. Officer & GC | Feb 12, 2026 | Tax withholding | −4,005 | – | – | 164,234 |
| Adam Pollitzer Chief Executive Officer, Director | Feb 12, 2026 | Tax withholding | −14,674 | – | – | 442,973 |
| Aurora Swithenbank EVP, Chief Financial Officer | Feb 11, 2026 | Award | +14,784 | – | – | 77,816 |
| Bradley M. Shuster Executive Chairman, Director | Feb 11, 2026 | Award | +24,437 | – | – | 420,332 |
| Mohammad Nawaz Yousaf EVP, Chief of Ops and Tech | Feb 11, 2026 | Award | +27,212 | – | – | 67,036 |
| Mohammad Nawaz Yousaf EVP, Chief of Ops and Tech | Feb 11, 2026 | Tax withholding | −10,708 | – | – | 56,328 |
| Mohammad Nawaz Yousaf EVP, Chief of Ops and Tech | Feb 11, 2026 | Award | +9,164 | – | – | 39,824 |
| Robert Owen Smith EVP, Chief Risk Officer | Feb 11, 2026 | Tax withholding | −19,627 | – | – | 111,362 |
| Robert Owen Smith EVP, Chief Risk Officer | Feb 11, 2026 | Award | +13,196 | – | – | 92,415 |
| Robert Owen Smith EVP, Chief Risk Officer | Feb 11, 2026 | Award | +38,574 | – | – | 130,989 |
| Norman Peter Fitzgerald EVP, Chief Sales Officer | Feb 11, 2026 | Award | +8,980 | – | – | 42,810 |
| Norman Peter Fitzgerald EVP, Chief Sales Officer | Feb 11, 2026 | Tax withholding | −13,158 | – | – | 56,864 |
| Norman Peter Fitzgerald EVP, Chief Sales Officer | Feb 11, 2026 | Award | +27,212 | – | – | 70,022 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Short interest
Shares sold short and not yet bought back, as of Oct 30, 2026 (FINRA, reported twice a month)
Short % of float
3.61%
3M shares short
Days to cover
2.6
At 1M shares a day
Change since last report
-11.9%
From 3M shares
Short volume, 20 days
48.2%
Of volume reported to FINRA
Shares sold short, last 12 months
Short sale volume counts trades marked short on any given day, including market-maker hedging, so it runs far higher than the share of NMI's stock actually held short. Settlement fails (shares not delivered on time) peaked at 1,328 shares on Sep 25, 2026 over the last 90 days.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Adam Pollitzer Officer, Director | Sep 4, 2026 | 190,912 | $8.56M | Sep 4, 2026 | Stock Option Exercise |
| Aurora Swithenbank Officer | Aug 11, 2026 | 11,662 | $519.06K | Aug 11, 2026 | Restricted Stock |
| Robert Owen Smith Officer | Aug 3, 2026 | 12,000 | $535.76K | Aug 3, 2026 | Performance Shares |
| Regina Muehlhauser Former Director | Jul 24, 2026 | 8,666 | $370.47K | Jul 24, 2026 | Acquired as compensation -- Restricted Stock Units |
| Regina Muehlhauser Former Director | Jul 21, 2026 | 10,626 | $444.75K | Jul 21, 2026 | Acquired as compensation -- Restricted Stock Units |
| Regina Muehlhauser Former Director | Jul 2, 2026 | 40,000 | $1.64M | Jul 2, 2026 | Acquired as compensation -- Restricted Stock Units |
| Michael Curry Montgomery Director | May 19, 2026 | 1,554 | $58.90K | May 19, 2026 | Restricted Stock |
| Bradley M. Shuster Officer, Director | Mar 24, 2026 | 18,593 | $694.39K | Mar 24, 2026 | Stock Option Exercise |
| Bradley M. Shuster Officer, Director | Mar 19, 2026 | 18,996 | $703.89K | Mar 19, 2026 | Stock Option Exercise |
| Bradley M. Shuster Officer, Director | Mar 12, 2026 | 18,976 | $694.15K | Mar 12, 2026 | Stock Option Exercise |
| Bradley M. Shuster Officer, Director | Mar 5, 2026 | 19,430 | $755.94K | Mar 5, 2026 | Stock Option Exercise |
| Bradley M. Shuster Officer, Director | Feb 26, 2026 | 19,557 | $779.43K | Feb 26, 2026 | Stock Option Exercise |
| Bradley M. Shuster Officer, Director | Feb 18, 2026 | 55,000 | $2.18M | Feb 18, 2026 | Stock Option Exercise |
| Norman Peter Fitzgerald Officer | Feb 17, 2026 | 22,500 | $898.63K | Feb 17, 2026 | Restricted Stock |
| Mohammad Nawaz Yousaf Officer | Feb 17, 2026 | 16,000 | $638.20K | Feb 17, 2026 | Restricted Stock |
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