Who owns NBN
Which tracked institutional funds hold NBN, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See NBN company fundamentals →
Ownership as of the 2026-Q1 13F filings (latest filed 2026-05-18). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
41 tracked funds added or opened NBN while 21 trimmed or exited it between 2025-Q4 and 2026-Q1 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
NBN’s largest tracked holder by dollar value, EARNEST PARTNERS LLC, sizes it at 0.3% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 0.3pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in NBN divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2025-Q4 and 2026-Q1, across 158 tracked filers holding NBN, 77 increased or opened the position and 67 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in NBN between the 2025-Q4 and 2026-Q1 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 14
- VANGUARD CAPITAL MANAGEMENT LLC$34M
- Ampfield Management, L.P.$20M
- VANGUARD PORTFOLIO MANAGEMENT LLC$9M
- VANGUARD FIDUCIARY TRUST CO$6M
- JANE STREET GROUP, LLC$3M
- Corient Private Wealth LLC$1M
Full exits 4
- VANGUARD GROUP INC$39M
- Focus Partners Wealth$4M
- Balyasny Asset Management L.P.$1M
- CITADEL ADVISORS LLC$623K
Largest adds
- AMERICAN CENTURY COMPANIES INC$12M
- Boston Partners$9M
- MILLENNIUM MANAGEMENT LLC$8M
- STATE STREET CORP$8M
- EARNEST PARTNERS LLC$4M
- DIMENSIONAL FUND ADVISORS LP$4M
Largest trims
- HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC$4M
- Invesco Ltd.$4M
- BOOTHBAY FUND MANAGEMENT, LLC$3M
- JPMORGAN CHASE & CO$2M
- RENAISSANCE TECHNOLOGIES LLC$1M
- Brevan Howard Capital Management LP$1M
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| EARNEST PARTNERS LLC trimmed | 639,170 | $72M | 9.7% | 2026-Q1 |
| BlackRock, Inc. trimmed | 566,087 | $64M | 8.6% | 2026-Q1 |
| AMERICAN CENTURY COMPANIES INC added | 458,605 | $52M | 6.9% | 2026-Q1 |
| DIMENSIONAL FUND ADVISORS LP added | 333,281 | $37M | 5.0% | 2026-Q1 |
| Boston Partners added | 320,868 | $36M | 4.9% | 2026-Q1 |
| STATE STREET CORP added | 314,601 | $35M | 4.8% | 2026-Q1 |
| VANGUARD CAPITAL MANAGEMENT LLC new | 304,622 | $34M | 4.6% | 2026-Q1 |
| KENNEDY CAPITAL MANAGEMENT LLC trimmed | 198,131 | $22M | 3.0% | 2026-Q1 |
| GEODE CAPITAL MANAGEMENT, LLC trimmed | 183,676 | $21M | 2.8% | 2026-Q1 |
| Ampfield Management, L.P. new | 173,536 | $20M | 2.6% | 2026-Q1 |
| GW&K Investment Management, LLC trimmed | 159,667 | $18M | 2.4% | 2026-Q1 |
| Trevian Wealth Management LLC added | 140,585 | $16M | 2.1% | 2026-Q1 |
| Pacific Ridge Capital Partners, LLC added | 127,534 | $14M | 1.9% | 2026-Q1 |
| ROYCE & ASSOCIATES LP trimmed | 106,873 | $12M | 1.6% | 2026-Q1 |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC trimmed | 84,451 | $9M | 1.3% | 2026-Q1 |
| Gator Capital Management, LLC added | 78,473 | $9M | 1.2% | 2026-Q1 |
| VANGUARD PORTFOLIO MANAGEMENT LLC new | 77,678 | $9M | 1.2% | 2026-Q1 |
| Brevan Howard Capital Management LP trimmed | 75,200 | $8M | 1.1% | 2026-Q1 |
| MILLENNIUM MANAGEMENT LLC added | 73,228 | $8M | 1.1% | 2026-Q1 |
| MORGAN STANLEY added | 71,892 | $8M | 1.1% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC added | 68,730 | $8M | 1.0% | 2026-Q1 |
| CSM Advisors, LLC trimmed | 68,497 | $8M | 1.0% | 2026-Q1 |
| NORTHERN TRUST CORP added | 67,052 | $8M | 1.0% | 2026-Q1 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 61,703 | $7M | 0.9% | 2026-Q1 |
| BOOTHBAY FUND MANAGEMENT, LLC trimmed | 51,907 | $6M | 0.8% | 2026-Q1 |
| VANGUARD FIDUCIARY TRUST CO new | 50,376 | $6M | 0.8% | 2026-Q1 |
| RENAISSANCE TECHNOLOGIES LLC trimmed | 50,245 | $6M | 0.8% | 2026-Q1 |
| Russell Investments Group, Ltd. added | 49,530 | $6M | 0.7% | 2026-Q1 |
| UBS Group AG trimmed | 47,784 | $5M | 0.7% | 2026-Q1 |
| BROWN ADVISORY INC | 46,756 | $5M | 0.7% | 2026-Q1 |
| Polaris Capital Management, LLC trimmed | 46,600 | $5M | 0.7% | 2026-Q1 |
| TWO SIGMA INVESTMENTS, LP added | 46,285 | $5M | 0.7% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ added | 39,929 | $4M | 0.6% | 2026-Q1 |
| Invesco Ltd. trimmed | 35,735 | $4M | 0.5% | 2026-Q1 |
| GLOBEFLEX CAPITAL L P | 35,339 | $4M | 0.5% | 2026-Q1 |
| SEI INVESTMENTS CO added | 35,272 | $4M | 0.5% | 2026-Q1 |
| Bank of New York Mellon Corp trimmed | 31,900 | $4M | 0.5% | 2026-Q1 |
| BASSWOOD CAPITAL MANAGEMENT, L.L.C. | 31,107 | $3M | 0.5% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC added | 30,675 | $3M | 0.5% | 2026-Q1 |
| COMMONWEALTH EQUITY SERVICES, LLC added | 30,091 | $3M | 0.5% | 2026-Q1 |
| Quantinno Capital Management LP added | 28,071 | $3M | 0.4% | 2026-Q1 |
| WELLS FARGO & COMPANY/MN trimmed | 26,732 | $3M | 0.4% | 2026-Q1 |
| JANE STREET GROUP, LLC added | 23,737 | $3M | 0.4% | 2026-Q1 |
| SG Americas Securities, LLC trimmed | 22,577 | $3M | 0.3% | 2026-Q1 |
| PMC FIG Opportunities LLC trimmed | 20,618 | $2M | 0.3% | 2026-Q1 |
| AMERIPRISE FINANCIAL INC trimmed | 19,266 | $2M | 0.3% | 2026-Q1 |
| Nuveen, LLC trimmed | 19,054 | $2M | 0.3% | 2026-Q1 |
| EMERALD MUTUAL FUND ADVISERS TRUST trimmed | 18,155 | $2M | 0.3% | 2026-Q1 |
| Connor, Clark & Lunn Investment Management Ltd. trimmed | 16,347 | $2M | 0.2% | 2026-Q1 |
| Swiss National Bank | 15,100 | $2M | 0.2% | 2026-Q1 |
| PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. | 14,740 | $2M | 0.2% | 2026-Q1 |
| Welch & Forbes LLC | 14,000 | $2M | 0.2% | 2026-Q1 |
| Rafferty Asset Management, LLC added | 12,059 | $1M | 0.2% | 2026-Q1 |
| Corient Private Wealth LLC added | 11,727 | $1M | 0.2% | 2026-Q1 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC added | 11,481 | $1M | 0.2% | 2026-Q1 |
| Measured Wealth Private Client Group, LLC | 11,104 | $1M | 0.2% | 2026-Q1 |
| CITIGROUP INC added | 11,097 | $1M | 0.2% | 2026-Q1 |
| OPPENHEIMER ASSET MANAGEMENT INC. added | 10,314 | $1M | 0.2% | 2026-Q1 |
| RHUMBLINE ADVISERS added | 9,795 | $1M | 0.1% | 2026-Q1 |
| XTX Topco Ltd new | 8,746 | $983K | 0.1% | 2026-Q1 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP added | 8,647 | $972K | 0.1% | 2026-Q1 |
| ExodusPoint Capital Management, LP added | 8,624 | $969K | 0.1% | 2026-Q1 |
| SummerHaven Investment Management, LLC trimmed | 7,796 | $876K | 0.1% | 2026-Q1 |
| Vanguard Global Advisers, LLC new | 7,703 | $866K | 0.1% | 2026-Q1 |
| Squarepoint Ops LLC added | 7,595 | $853K | 0.1% | 2026-Q1 |
| Persistent Asset Partners Ltd trimmed | 7,529 | $846K | 0.1% | 2026-Q1 |
| BARCLAYS PLC trimmed | 7,502 | $843K | 0.1% | 2026-Q1 |
| STATE OF WISCONSIN INVESTMENT BOARD trimmed | 7,260 | $816K | 0.1% | 2026-Q1 |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM trimmed | 7,180 | $807K | 0.1% | 2026-Q1 |
| Daytona Street Capital LLC | 6,340 | $731K | 0.1% | 2026-Q1 |
| Legal & General Group Plc trimmed | 6,345 | $713K | 0.1% | 2026-Q1 |
| ALLIANCEBERNSTEIN L.P. | 6,763 | $703K | 0.1% | 2026-Q1 |
| DEUTSCHE BANK AG\ added | 6,236 | $701K | 0.1% | 2026-Q1 |
| AQR CAPITAL MANAGEMENT LLC added | 6,061 | $681K | 0.1% | 2026-Q1 |
| PRICE T ROWE ASSOCIATES INC /MD/ added | 5,632 | $633K | 0.1% | 2026-Q1 |
| Trexquant Investment LP trimmed | 5,588 | $628K | 0.1% | 2026-Q1 |
| Susquehanna Portfolio Strategies, LLC | 5,059 | $568K | 0.1% | 2026-Q1 |
| BBR PARTNERS, LLC | 5,000 | $562K | 0.1% | 2026-Q1 |
| Arcus Capital Partners, LLC added | 4,868 | $547K | 0.1% | 2026-Q1 |
| Universal- Beteiligungs- und Servicegesellschaft mbH trimmed | 4,848 | $545K | 0.1% | 2026-Q1 |
| VANGUARD ASSET MANAGEMENT, Ltd new | 4,784 | $538K | 0.1% | 2026-Q1 |
| VANGUARD GROUP INC trimmed | 377,005 | $39M | 5.3% | 2025-Q4 stale |
| WELLINGTON MANAGEMENT GROUP LLP trimmed | 111,649 | $10M | 1.3% | 2025-Q2 stale |
| Foundry Partners, LLC trimmed | 73,497 | $7M | 0.9% | 2025-Q1 stale |
| Western Standard LLC added | 53,078 | $5M | 0.6% | 2025-Q2 stale |
| Focus Partners Wealth | 36,134 | $4M | 0.5% | 2025-Q4 stale |
| Lombard Odier Asset Management (USA) Corp added | 36,000 | $3M | 0.4% | 2025-Q1 stale |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added | 26,495 | $3M | 0.4% | 2025-Q3 stale |
| TWO SIGMA ADVISERS, LP added | 21,900 | $2M | 0.3% | 2025-Q2 stale |
| SEGALL BRYANT & HAMILL, LLC new | 20,177 | $2M | 0.2% | 2025-Q2 stale |
| TUDOR INVESTMENT CORP ET AL trimmed | 19,739 | $2M | 0.2% | 2025-Q2 stale |
| Balyasny Asset Management L.P. added | 10,673 | $1M | 0.1% | 2025-Q4 stale |
| Ellsworth Advisors, LLC trimmed | 11,070 | $1M | 0.1% | 2025-Q3 stale |
| Jump Financial, LLC added | 9,806 | $982K | 0.1% | 2025-Q3 stale |
| D. E. Shaw & Co., Inc. trimmed | 10,212 | $909K | 0.1% | 2025-Q2 stale |
| WEDGE CAPITAL MANAGEMENT L L P/NC added | 8,436 | $772K | 0.1% | 2025-Q1 stale |
| Cubist Systematic Strategies, LLC added | 8,529 | $759K | 0.1% | 2025-Q2 stale |
| CITADEL ADVISORS LLC added | 5,997 | $623K | 0.1% | 2025-Q4 stale |
| Tidal Investments LLC added | 6,634 | $607K | 0.1% | 2025-Q1 stale |
| Assenagon Asset Management S.A. added | 5,835 | $584K | 0.1% | 2025-Q3 stale |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.