Vault-13

NATIONAL WESTN LIFE GROUP IN NWLI

CL A · Common Stock · CUSIP 638517102

156 institutional holders +3 vs Q4 2023
3,122,1053.1m shares reported held*
$1.5bnreported value*
17 new 45 added 52 reduced 15 sold out net bought ≈ $51.3m (+104.3k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($826.5k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $492.06.

Trends to Q1 2024

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 99Q4 22: 114Q1 23: 113Q2 23: 118Q3 23: 117Q4 23: 153Q1 24: 156156Q3 22Q1 23Q3 23Q1 24
Numbers
QuarterHolders
Q3 202299
Q4 2022114
Q1 2023113
Q2 2023118
Q3 2023117
Q4 2023153
Q1 2024156

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
1000100Q4 22: 48 bought or addedQ4 22: 46 cut or sold outQ4 22Q1 23: 44 bought or addedQ1 23: 41 cut or sold outQ1 23Q2 23: 50 bought or addedQ2 23: 53 cut or sold outQ2 23Q3 23: 42 bought or addedQ3 23: 58 cut or sold outQ3 23Q4 23: 93 bought or addedQ4 23: 56 cut or sold outQ4 23Q1 24: 62 bought or addedQ1 24: 67 cut or sold outQ1 24
Numbers
QuarterBought or addedCut or sold out
Q4 20224846
Q1 20234441
Q2 20235053
Q3 20234258
Q4 20239356
Q1 20246267

Biggest buyers

JPMORGAN CHASE & CO Added +55,770+55.8k
MORGAN STANLEY Added +31,759+31.8k
GLAZER CAPITAL, LLC Added +27,469+27.5k
Westchester Capital Management, LLC Added +23,899+23.9k
Qube Research & Technologies Ltd Added +18,571+18.6k
MILLENNIUM MANAGEMENT LLC Added +18,184+18.2k
VANGUARD GROUP INC Added +17,540+17.5k
First Trust Capital Management L.P. Added +16,611+16.6k
GOLDMAN SACHS GROUP INC Added +13,885+13.9k
TOKIO MARINE ASSET MANAGEMENT CO LTD Added +12,660+12.7k

Biggest sellers

Allspring Global Investments Holdings, LLC Sold out -88,894-88.9k
M3F, Inc. Reduced -28,961-29.0k
MOODY NATIONAL BANK TRUST DIVISION Reduced -20,000-20.0k
BRIDGEWAY CAPITAL MANAGEMENT, LLC Reduced -11,669-11.7k
DIMENSIONAL FUND ADVISORS LP Reduced -11,105-11.1k
BlackRock Inc. Reduced -7,274-7.3k
BANK OF AMERICA CORP /DE/ Reduced -7,177-7.2k
AMERICAN CENTURY COMPANIES INC Reduced -7,040-7.0k
Empowered Funds, LLC Sold out -5,991-6.0k
Quinn Opportunity Partners LLC Sold out -3,945-3.9k

Holders, Q1 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 MOODY NATIONAL BANK TRUST DIVISION 42.24% of their portfolio GALVESTON, TX 1,089,3771.1m $535.9m $535.9m 42.24% Reduced -20.0k -20,000
2 DIMENSIONAL FUND ADVISORS LP 0.03% of their portfolio AUSTIN, TX 218,266218.3k $107.4m $107.4m 0.03% Reduced -11.1k -11,105
3 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 209,149209.1k $102.9m $102.9m 0.00% Added +17.5k +17,540
4 BlackRock Inc. 0.00% of their portfolio New York, NY 187,286187.3k $92.1m $92.1m 0.00% Reduced -7.3k -7,274
5 GLAZER CAPITAL, LLC 6.15% of their portfolio New York, NY 120,085120.1k $59.1m $59.1m 6.15% Added +27.5k +27,469
6 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 119,943119.9k $59.0m $59.0m 0.00% Added +31.8k +31,759
7 NEXPOINT ASSET MANAGEMENT, L.P. 5.29% of their portfolio Dallas, TX 69,97770.0k $34.4m $34.4m 5.29% Added +9.6k +9,623
8 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 67,53667.5k $33.2m $33.2m 0.00% Added +55.8k +55,770
9 Magnetar Financial LLC 0.74% of their portfolio EVANSTON, IL 67,48267.5k $33.2m $33.2m 0.74% Unchanged
10 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 51,30951.3k $25.2m $25.2m 0.00% Added +1.2k +1,173
11 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 51,08751.1k $25.1m $25.1m 0.00% Added +228 +228
12 Qube Research & Technologies Ltd 0.04% of their portfolio LONDON, X0 47,29847.3k $23.3m $23.3m 0.04% Added +18.6k +18,571
13 RK Asset Management, LLC 18.91% of their portfolio GROSSE POINTE FARMS, MI 47,21747.2k $23.2m $23.2m 18.91% Reduced -2.0k -1,986
14 Woodline Partners LP 0.21% of their portfolio San Francisco, CA 46,80146.8k $23.0m $23.0m 0.21% Added +6.8k +6,801
15 Tweedy, Browne Co LLC 1.01% of their portfolio Stamford, CT 43,88243.9k $21.6m $21.6m 1.01% Reduced -25 -25
16 Westchester Capital Management, LLC 0.83% of their portfolio VALHALLA, NY 39,70639.7k $19.5m $19.5m 0.83% Added +23.9k +23,899
17 First Trust Capital Management L.P. 1.65% of their portfolio CHICAGO, IL 39,56139.6k $19.5m $19.5m 1.65% Added +16.6k +16,611
18 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 35,08535.1k $17.3m $17.3m 0.01% Added +18.2k +18,184
19 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 34,57634.6k $17.0m $17.0m 0.00% Added +13.9k +13,885
20 M3F, Inc. 5.54% of their portfolio SALT LAKE CITY, UT 31,82131.8k $15.7m $15.7m 5.54% Reduced -29.0k -28,961
21 Balyasny Asset Management L.P. 0.04% of their portfolio Chicago, IL 31,50331.5k $15.5m $15.5m 0.04% Reduced -34 -34
22 HSBC HOLDINGS PLC 0.01% of their portfolio LONDON, X0 27,62827.6k $13.6m $13.6m 0.01% Added +2.9k +2,901
23 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 25,33225.3k $12.5m $12.5m 0.00% Reduced -531 -531
24 JANUS HENDERSON GROUP PLC 0.01% of their portfolio LONDON, X0 23,48123.5k $11.5m $11.5m 0.01% Added +6.2k +6,223
25 TOKIO MARINE ASSET MANAGEMENT CO LTD 0.57% of their portfolio Tokyo, M0 22,96023.0k $11.3m $11.3m 0.57% Added +12.7k +12,660
26 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 17,66217.7k $8.7m $8.7m 0.00% Added +242 +242
27 AQR Arbitrage LLC 0.29% of their portfolio Greenwich, CT 16,82016.8k $8.3m $8.3m 0.29% Unchanged
28 RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio NEW YORK, NY 16,18216.2k $8.0m $8.0m 0.01% Added +2.7k +2,682
29 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 14,64014.6k $7.2m $7.2m 0.00% Added +7.2k +7,164
30 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 12,38512.4k $6.1m $6.1m 0.00% Reduced -1.8k -1,760
31 ALPINE ASSOCIATES MANAGEMENT INC. 0.21% of their portfolio PALM BEACH, FL 11,14811.1k $5.5m $5.5m 0.21% New
32 GABELLI FUNDS LLC 0.04% of their portfolio Rye, NY 10,95611.0k $5.4m $5.4m 0.04% Added +9.0k +8,956
33 FCA CORP /TX 1.68% of their portfolio HOUSTON, TX 10,53710.5k $5.2m $5.2m 1.68% Added +10 +10
34 FMR LLC 0.00% of their portfolio BOSTON, MA 9,5039.5k $4.7m $4.7m 0.00% Reduced -19 -19
35 Capula Management Ltd 0.16% of their portfolio Grand Cayman, E9 9,4249.4k $4.6m $4.6m 0.16% Not comparable
36 LMR Partners LLP 0.12% of their portfolio LONDON, X0 9,2139.2k $4.5m $4.5m 0.12% New
37 Yakira Capital Management, Inc. 1.53% of their portfolio Westport, CT 8,9809.0k $4.4m $4.4m 1.53% Added +979 +979
38 STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio MADISON, WI 8,9629.0k $4.4m $4.4m 0.01% Reduced -33 -33
39 BRANDES INVESTMENT PARTNERS, LP 0.06% of their portfolio LA JOLLA, CA 8,9559.0k $4.4m $4.4m 0.06% Added +797 +797
40 CREDIT SUISSE AG/ 0.00% of their portfolio ZURICH, V8 8,9048.9k $4.4m $4.4m 0.00% Reduced -3.4k -3,416
41 PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.02% of their portfolio COLUMBUS, OH 8,4008.4k $4.1m $4.1m 0.02% Unchanged
42 Crabel Capital Management, LLC 3.57% of their portfolio MILWAUKEE, WI 8,3338.3k $4.1m $4.1m 3.57% Unchanged
43 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 8,0478.0k $4.0m $4.0m 0.00% Reduced -7.0k -7,040
44 Skandinaviska Enskilda Banken AB (publ) 0.02% of their portfolio STOCKHOLM, V7 7,4707.5k $3.7m $3.7m 0.02% Added +339 +339
45 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 6,8026.8k $3.3m $3.3m 0.00% Unchanged
46 Polar Asset Management Partners Inc. 0.08% of their portfolio TORONTO, A6 6,0006.0k $3.0m $3.0m 0.08% New
47 TUDOR INVESTMENT CORP ET AL 0.03% of their portfolio STAMFORD, CT 5,6305.6k $2.8m $2.8m 0.03% Added +1.1k +1,129
48 NATIXIS 0.02% of their portfolio PARIS, I0 5,5205.5k $2.7m $2.7m 0.02% New
49 Verition Fund Management LLC 0.03% of their portfolio GREENWICH, CT 5,5005.5k $2.7m $2.7m 0.03% Added +1.3k +1,300
50 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 5,1015.1k $2.5m $2.5m 0.00% Reduced -1.3k -1,305
51 Nuveen Asset Management, LLC 0.00% of their portfolio CHICAGO, IL 4,8344.8k $2.4m $2.4m 0.00% Reduced -1.8k -1,758
52 Versor Investments LP 0.44% of their portfolio New York, NY 4,4254.4k $2.2m $2.2m 0.44% Added +3.9k +3,930
53 Sagefield Capital LP 0.26% of their portfolio DALLAS, TX 4,3754.4k $2.2m $2.2m 0.26% Reduced -480 -480
54 Swiss National Bank 0.00% of their portfolio ZURICH, V8 4,0494.0k $2.0m $2.0m 0.00% Unchanged
55 Chicago Capital Management, LLC 2.05% of their portfolio CHICAGO, IL 3,9634.0k $1.9m $1.9m 2.05% Unchanged
56 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 3,7873.8k $1.9m $1.9m 0.00% Reduced -44 -44
57 BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.04% of their portfolio HOUSTON, TX 3,6003.6k $1.8m $1.8m 0.04% Reduced -11.7k -11,669
58 Absolute Gestao de Investimentos Ltda. 0.54% of their portfolio SAO PAULO, D5 3,5483.5k $1.7m $1.7m 0.54% New
59 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 3,5023.5k $1.7m $1.7m 0.00% Unchanged
60 Pictet Asset Management Holding SA 0.00% of their portfolio CAROUGE, V8 3,4393.4k $1.7m $1.7m 0.00% Added +679 +679
61 WOLVERINE ASSET MANAGEMENT LLC 0.03% of their portfolio CHICAGO, IL 3,3323.3k $1.6m $1.6m 0.03% Unchanged
62 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 3,3123.3k $1.6m $1.6m 0.00% Reduced -7.2k -7,177
63 CANADA PENSION PLAN INVESTMENT BOARD 0.00% of their portfolio TORONTO ONTARIO, A6 3,0003.0k $1.5m $1.5m 0.00% Unchanged
64 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 2,9352.9k $1.4m $1.4m 0.00% Reduced -950 -950
65 BCK CAPITAL MANAGEMENT LP 0.95% of their portfolio STAMFORD, CT 2,8502.9k $1.4m $1.4m 0.95% Unchanged
66 New York Life Investment Management LLC 0.01% of their portfolio New York, NY 2,8362.8k $1.4m $1.4m 0.01% Reduced -2.1k -2,067
67 UBS Group AG 0.00% of their portfolio ZURICH, V8 2,8282.8k $1.4m $1.4m 0.00% Reduced -532 -532
68 MOORE CAPITAL MANAGEMENT, LP 0.03% of their portfolio NEW YORK, NY 2,5002.5k $1.2m $1.2m 0.03% Reduced -2.5k -2,500
69 CSS LLC/IL 0.10% of their portfolio CHICAGO, IL 2,4212.4k $1.2m $1.2m 0.10% Added +1.4k +1,352
70 Deuterium Capital Management, LLC 2.06% of their portfolio Clearwater, FL 2,3492.3k $1.2m $1.2m 2.06% New
71 CenterBook Partners LP 0.08% of their portfolio GREENWICH, CT 2,3032.3k $1.1m $1.1m 0.08% Added +1.4k +1,399
72 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 2,2602.3k $1.1m $1.1m 0.00% Unchanged
73 DLD Asset Management, LP 0.19% of their portfolio NEW YORK, NY 2,2002.2k $1.1m $1.1m 0.19% Unchanged
74 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 2,1942.2k $1.1m $1.1m 0.00% Reduced -2.8k -2,835
75 ACR Alpine Capital Research, LLC 0.03% of their portfolio ST. LOUIS, MO 2,1382.1k $1.1m $1.1m 0.03% Added +457 +457
76 CALDWELL SUTTER CAPITAL, INC. 0.50% of their portfolio SAUSALITO, CA 2,1132.1k $1.0m $1.0m 0.50% Reduced -287 -287
77 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio WEST SACRAMENTO, CA 2,0832.1k $1.0m $1.0m 0.00% Reduced -129 -129
78 Blackstone Inc. 0.00% of their portfolio NEW YORK, NY 2,0082.0k $987.9k $987.9k 0.00% Added +1.2k +1,178
79 Legal & General Group Plc 0.00% of their portfolio London, X0 1,9421.9k $955.4k $955.4k 0.00% Reduced -9 -9
80 GARRISON POINT ADVISORS, LLC 0.60% of their portfolio Walnut Creek, CA 1,9001.9k $934.7k $934.7k 0.60% Unchanged
81 PenderFund Capital Management Ltd. 0.32% of their portfolio VANCOUVER, A1 1,8001.8k $1.2m $1.2m 0.32% Unchanged
82 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 1,7901.8k $881.0k $881.0k 0.00% Added +80 +80
83 PRELUDE CAPITAL MANAGEMENT, LLC 0.06% of their portfolio NEW YORK, NY 1,6801.7k $826.5k $826.5k 0.06% Added +61 +61
84 WESTPORT ASSET MANAGEMENT INC 0.38% of their portfolio SOUTHPORT, CT 1,5421.5k $758.6k $758.6k 0.38% Unchanged
85 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 1,5421.5k $758.6k $758.6k 0.00% Added +910 +910
86 RBF Capital, LLC 0.04% of their portfolio RENO, NV 1,5001.5k $737.9k $737.9k 0.04% Unchanged
87 GUGGENHEIM CAPITAL LLC 0.01% of their portfolio CHICAGO, IL 1,4901.5k $733.0k $733.0k 0.01% Unchanged
88 Westhampton Capital, LLC 0.38% of their portfolio WINSTON-SALEM, NC 1,4251.4k $701.0k $701.0k 0.38% Reduced -275 -275
89 STRS OHIO 0.00% of their portfolio COLUMBUS, OH 1,3001.3k $639.0k $639.0k 0.00% Reduced -100 -100
90 Flow State Investments, L.P. 0.19% of their portfolio CHICAGO, IL 1,3001.3k $639.5k $639.5k 0.19% Added +755 +755
91 Trexquant Investment LP 0.01% of their portfolio STAMFORD, CT 1,2791.3k $629.2k $629.2k 0.01% New
92 MetLife Investment Management, LLC 0.00% of their portfolio Whippany, NJ 1,1491.1k $565.3k $565.3k 0.00% Unchanged
93 AMERICAN INTERNATIONAL GROUP, INC. 0.00% of their portfolio New York, NY 1,1221.1k $552.0k $552.0k 0.00% Reduced -10 -10
94 Beacon Pointe Advisors, LLC 0.01% of their portfolio NEWPORT BEACH, CA 1,1181.1k $550.0k $550.0k 0.01% Unchanged
95 TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio NEW YORK, NY 1,1101.1k $546.1k $546.1k 0.00% New
96 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 1,1001.1k $541.2k $541.2k 0.00% Added +26 +26
97 WATER ISLAND CAPITAL LLC 0.06% of their portfolio NEW YORK, NY 1,0741.1k $528.4k $528.4k 0.06% Reduced -2.2k -2,246
98 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 1,0011.0k $493.0k $493.0k 0.00% Added +50 +50
99 &PARTNERS 0.07% of their portfolio NASHVILLE, TN 1,0001.0k $492.0k $492.0k 0.07% Unchanged
100 GAMCO INVESTORS, INC. ET AL 0.00% of their portfolio GREENWICH, CT 1,0001.0k $492.0k $492.0k 0.00% Added +500 +500