# NMI Holdings (NMIH): value investors who own it | moatshark

2 value investors held NMI Holdings in their Q3 2026 13F, led by Muhlenkamp & Company, First Eagle Investment Management.

## 13F holders

| Manager | Portfolio | Value | Change | Quarters held |
| --- | --- | --- | --- | --- |
| Muhlenkamp & Company | 4.4% | $15.1m | Added +0.6% | 24 |
| First Eagle Investment Management | 0.0% | $11.9m | Added +5.6% | 21 |

## Directors buying and selling (Form 4, last 12 months)

| Date | Who | Role | Bought or sold | Shares | Value |
| --- | --- | --- | --- | --- | --- |
| 2026-09-04 | Pollitzer Adam | Chief Executive Officer | Sold | 172706 | $7.7m |
| 2026-08-11 | Swithenbank Aurora | EVP, Chief Financial Officer | Sold | 11662 | $519k |
| 2026-08-03 | Smith Robert Owen | EVP, Chief Risk Officer | Sold | 12000 | $536k |

## Fund holders

| Fund | Manager | Weight | Value | As at |
| --- | --- | --- | --- | --- |
| Muhlenkamp Fund | Muhlenkamp & Company | 3.4% | $8.8m | 2026-06-30 |

Source: SEC filings, via moatshark (https://www.moatshark.com/s/nmih). Values traded and returns are estimates. Not investment advice. Built 2026-10-21.