NEUBERGER MUN FD INC (NBH): Hedge Fund Ownership & Smart Money Signals (Q4 2025)

NEUBERGER MUN FD INC (NBH)

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

Smart Money Signals — NBH

Based on 81 hedge funds · latest filing: 2025 Q4 · updated quarterly

📈

Buying streak — 1 quarter in a row

last 6Q

For 1 consecutive quarter, more hedge funds added NBH 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 (98% of max)

98% of all-time peak

81 hedge funds hold NBH 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 — +5% more funds vs a year ago

fund count last 6Q

+4 new funds entered over the past year (+5% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction. The peak was reached in just 4 quarters from the low — a sharp move.

🟢

More buyers than sellers — 64% buying

41 buying23 selling

Last quarter: 41 funds were net buyers (17 opened a brand new position + 24 added to an existing one). Only 23 were sellers (20 trimmed + 3 sold completely). A clear majority buying is a strong confirmation signal.

📈

More new buyers each quarter (+13 vs last Q)

new funds entering per quarter

Funds opening a new NBH position: 8 → 8 → 4 → 17. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.

🔒

54% of holders stayed for 2+ years

■ 54% conviction (2yr+) ■ 23% medium ■ 22% new

44 out of 81 hedge funds have held NBH 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.

💎

Buying through price weakness — shares +5%, value -99%

Value

-99%

+4%

Last quarter: funds added +5% more shares while total portfolio value only changed -99%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.

📈

Growing discovery — still being found

16 → 8 → 8 → 4 → 17 new funds/Q

New funds entering each quarter: 8 → 8 → 4 → 17. A growing number of institutions are discovering NBH each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.

🏛️

Deep conviction — 48% of holders stayed 2+ years

■ 48% veterans ■ 19% 1-2yr ■ 33% new

Of 81 current holders: 39 (48%) 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.

✅

Strong quality — 28% AUM from major funds

28% from top-100 AUM funds

12 of 81 holders rank in the top 100 by AUM, accounting for 28% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

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.

Metric	All 13F Filers (2025 Q4)	Prior (2025 Q3)	Change
Funds Holding	81	67	20.9%
13F Shares	13M	12M	4.89%
Total Value	$128M	$12.84B	-99.01%
New Positions	17	4	+13
Increased Positions	24	28	-4
Closed Positions	3	9	-6
Reduced Positions	20	17	+3
Total Calls	0	0	-
Total Puts	0	0	-
PUT/CALL Ratio	0.0	0.0	Bullish

Metric

All 13F Filers (2025 Q4)

Prior (2025 Q3)

Change

Funds Holding

20.9%

13F Shares

13M

12M

4.89%

Total Value

$128M

$12.84B

-99.01%

New Positions

+13

Increased Positions

-4

Closed Positions

-6

Reduced Positions

Total Calls

Total Puts

PUT/CALL Ratio

0.0

Bullish

Institutional Holders (2026 Q1)

81 + investors

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

FILTER:All New Added To Reduced No Change | Overweight >5% | SHOW: Active managers + show index funds

Top 21 institutional holders of NBH — 2025 Q4 · Source: SEC Form 13F
#	Investor	% of Portfolio	Shares	Mkt Value
1	Rareview Capital LLC	2.67%	462,461	$4.5M
2	Worthington Financial Partners, LLC	1.25%	143,830	$1.5M
3	MELFA WEALTH MANAGEMENT, INC.	1.20%	206,547	$2.1M
4	Atala Financial Inc	0.71%	105,286	$1.1M
5	Noble Wealth Management PBC	0.38%	75,297	$764K
6	MACKAY SHIELDS LLC	0.23%	623,277	$6.3M
7	EVOLVE PRIVATE WEALTH, LLC	0.02%	45,899	$466K
8	RIVERBRIDGE PARTNERS LLC	0.02%	78,119	$793K
9	Plancorp, LLC	0.01%	50,009	$509K
10	BAR HARBOR WEALTH MANAGEMENT	0.01%	19,865	$202K
11	PARK AVENUE SECURITIES LLC	0.01%	111,408	$1K
12	Avior Wealth Management, LLC	0.01%	21,707	$220K
13	Moisand Fitzgerald Tamayo, LLC	0.00%	3,736	$38K
14	Community Financial Services Group, LLC	0.00%	1,510	$15K
15	HIGHLINE WEALTH PARTNERS LLC	0.00%	800	$8K
16	Kestra Advisory Services, LLC	0.00%	19,760	$201K
17	Cambridge Investment Research Advisors, Inc.	0.00%	25,530	—
18	Farther Finance Advisors, LLC	0.00%	4,046	$41K
19	COMMONWEALTH EQUITY SERVICES, LLC	0.00%	22,631	$230K
20	MATHER GROUP, LLC.	0.00%	2,997	$30K
21	FIFTH THIRD BANCORP	0.00%	33	—

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 — NEUBERGER MUN FD INC (NBH)

What does the Smart Money Trend signal show for NBH?

Buying streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds added NBH 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 NBH?

More buyers than sellers — 64% buying: Last quarter: 41 funds were net buyers (17 opened a brand new position + 24 added to an existing one). Only 23 were sellers (20 trimmed + 3 sold completely). A clear majority buying is a strong confirmation signal.

What is the fund quality score for NBH holders?

Strong quality — 28% AUM from major funds: 12 of 81 holders rank in the top 100 by AUM, accounting for 28% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

How long have hedge funds held NBH?

54% of holders stayed for 2+ years: 44 out of 81 hedge funds have held NBH 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.

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.

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NEUBERGER MUN FD INC (NBH)

Smart Money Signals — NBH

Buying streak — 1 quarter in a row

At the ownership peak (98% of max)

Steady growth — +5% more funds vs a year ago

More buyers than sellers — 64% buying

More new buyers each quarter (+13 vs last Q)

54% of holders stayed for 2+ years

Buying through price weakness — shares +5%, value -99%

Growing discovery — still being found

Deep conviction — 48% of holders stayed 2+ years

Strong quality — 28% AUM from major funds

Hedge Fund Ownership: NBH

Market Analysis: NBH

Analyst Price Targets

Analyst Recommendations

Stock Performance

Company Profile: NBH

Hedge Fund Positioning: NBH

Statistics: NBH

Valuation Measures Data as of: --

Financial Highlights

Institutional Holders (2026 Q1)

Frequently Asked Questions — NEUBERGER MUN FD INC (NBH)

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