NMI (NMIH)


Market Price (7/30/2026): $44.345 | Market Cap: $3.4 BilSector: Financials | Industry: Commercial & Residential Mortgage Finance

NMI (NMIH)


Market Price (7/30/2026): $44.345
Market Cap: $3.4 Bil
Sector: Financials
Industry: Commercial & Residential Mortgage Finance

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.1%, FCF Yield is 13%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 61%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 60%

Low stock price volatility
Vol 12M is 24%

Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments, and Future of Housing / Residential Real Estate. Themes include Online Banking & Lending, and Affordable Homeownership Access.

Trading close to highs
Dist 52W High is 0.0%, Dist 3Y High is 0.0%

Weak multi-year price returns
2Y Excs Rtn is -18%, 3Y Excs Rtn is -28%

Key risks
NMIH key risks include [1] the need to hold more capital or acquire more expensive reinsurance due to regulatory changes being phased in through 2026, Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.1%, FCF Yield is 13%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 61%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 60%
2 Low stock price volatility
Vol 12M is 24%
3 Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments, and Future of Housing / Residential Real Estate. Themes include Online Banking & Lending, and Affordable Homeownership Access.
4 Trading close to highs
Dist 52W High is 0.0%, Dist 3Y High is 0.0%
5 Weak multi-year price returns
2Y Excs Rtn is -18%, 3Y Excs Rtn is -28%
6 Key risks
NMIH key risks include [1] the need to hold more capital or acquire more expensive reinsurance due to regulatory changes being phased in through 2026, Show more.

NMIH in ETFs

Weight = NMIH's share of each fund

VTI0.00%
ITOT0.01%
IWM0.10%
IJR0.18%
SLYG0.36%
IJT0.36%
AVUV0.36%
IWN0.21%
+9 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

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Updated on 7/17/2026

NMI (NMIH) stock has gained about 20% since 3/31/2026 because of the following key factors:

1. Strong Fiscal Q1 2026 Financial Performance Exceeded Expectations. NMI Holdings, Inc. reported adjusted diluted earnings per share of $1.28 for fiscal Q1 2026, surpassing analysts' consensus estimates of $1.22 by $0.06 or 4.9%. Quarterly revenue also exceeded expectations, reaching $183.5 million, which was above the consensus range of $153.99 million to $182.76 million and represented a 5.9% increase year-over-year.

2. Robust Growth in Primary Insurance in Force and New Insurance Written. The company demonstrated strong business expansion, with primary insurance in force reaching a record $222.3 billion at the end of fiscal Q1 2026, supported by $12.3 billion of new insurance written during the quarter. This growth reflects sustained demand for NMI's mortgage insurance products.

Show more
Updated on 7/17/2026

NMI (NMIH) stock has gained about 20% since 3/31/2026 because of the following key factors:

1. Strong Fiscal Q1 2026 Financial Performance Exceeded Expectations. NMI Holdings, Inc. reported adjusted diluted earnings per share of $1.28 for fiscal Q1 2026, surpassing analysts' consensus estimates of $1.22 by $0.06 or 4.9%. Quarterly revenue also exceeded expectations, reaching $183.5 million, which was above the consensus range of $153.99 million to $182.76 million and represented a 5.9% increase year-over-year.

2. Robust Growth in Primary Insurance in Force and New Insurance Written. The company demonstrated strong business expansion, with primary insurance in force reaching a record $222.3 billion at the end of fiscal Q1 2026, supported by $12.3 billion of new insurance written during the quarter. This growth reflects sustained demand for NMI's mortgage insurance products.

3. Positive Analyst Sentiment and Upgraded Price Targets. Following the strong fiscal Q1 2026 results and ongoing performance, several investment analysts reiterated or raised their price targets and maintained "Buy" or "Outperform" ratings. For instance, JPMorgan Chase & Co. raised its price target to $48.00 on July 13, 2026, while Keefe, Bruyette & Woods boosted its target to $47.00 on June 25, 2026. The consensus price targets from recent analyst ratings suggest an implied upside for the stock.

4. Disciplined Expense Management and Favorable Credit Environment. NMI Holdings, Inc. maintained a disciplined approach to expenses, with the expense ratio falling to 19.8% in fiscal Q1 2026 from 20.4% in fiscal Q4 2025. This, combined with a continued favorable credit environment within the primary mortgage insurance portfolio, supported strong profitability and healthy premium streams by maintaining high persistency rates and reducing acquisition costs due to lower refinancing activity.

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Stock Movement Drivers

Fundamental Drivers

The 18.2% change in NMIH stock from 3/31/2026 to 7/29/2026 was primarily driven by a 18.4% change in the company's P/E Multiple.
(LTM values as of)33120267292026Change
Stock Price ($)37.5144.3418.2%
Change Contribution By: 
Total Revenues ($ Mil)7067171.4%
Net Income Margin (%)55.1%53.8%-2.2%
P/E Multiple7.48.818.4%
Shares Outstanding (Mil)77760.7%
Cumulative Contribution18.2%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 7/29/2026
ReturnCorrelation
NMIH18.2% 
Market (SPY)12.2%-7.0%
Sector (XLF)14.8%34.5%

Fundamental Drivers

The 8.7% change in NMIH stock from 12/31/2025 to 7/29/2026 was primarily driven by a 5.6% change in the company's P/E Multiple.
(LTM values as of)123120257292026Change
Stock Price ($)40.7944.348.7%
Change Contribution By: 
Total Revenues ($ Mil)6927173.5%
Net Income Margin (%)55.0%53.8%-2.2%
P/E Multiple8.38.85.6%
Shares Outstanding (Mil)77761.6%
Cumulative Contribution8.7%

LTM = Last Twelve Months as of date shown

Market Drivers

12/31/2025 to 7/29/2026
ReturnCorrelation
NMIH8.7% 
Market (SPY)7.3%3.7%
Sector (XLF)4.0%41.0%

Fundamental Drivers

The 5.1% change in NMIH stock from 6/30/2025 to 7/29/2026 was primarily driven by a 7.3% change in the company's Total Revenues ($ Mil).
(LTM values as of)63020257292026Change
Stock Price ($)42.1944.345.1%
Change Contribution By: 
Total Revenues ($ Mil)6687177.3%
Net Income Margin (%)55.9%53.8%-3.8%
P/E Multiple8.98.8-1.1%
Shares Outstanding (Mil)78762.9%
Cumulative Contribution5.1%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2025 to 7/29/2026
ReturnCorrelation
NMIH5.1% 
Market (SPY)19.1%10.0%
Sector (XLF)9.5%41.3%

Fundamental Drivers

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Market Drivers

6/30/2023 to 7/29/2026
ReturnCorrelation
NMIH  
Market (SPY)70.4%35.3%
Sector (XLF)75.7%56.9%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
NMIH Return---10%11%8%31%
Peers Return-17%-44%107%93%101%-25%182%
S&P 500 Return27%-19%24%23%16%9%98%

Monthly Win Rates [3]
NMIH Win Rate---62%58%57% 
Peers Win Rate48%33%58%55%57%37% 
S&P 500 Win Rate75%42%67%75%67%43% 

Max Drawdowns [4]
NMIH Max Drawdown-----18%-15% 
Peers Max Drawdown-49%-51%-33%-34%-32%-43% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: RKT, ESNT, WD, FNMA, FMCC.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/29/2026 (YTD)

About NMI (NMIH)

NMI Holdings, Inc. (NMIH) is a financial services company primarily engaged in providing private mortgage guaranty insurance services across the United States. Incorporated in 2011 and headquartered in Emeryville, California, NMIH plays a crucial role in the housing finance ecosystem by helping to mitigate risk for mortgage lenders.

The company's core offering is mortgage insurance services, which protect lenders against potential losses if a borrower defaults on their home loan. In addition to this primary service, NMIH also provides outsourced loan review services to mortgage loan originators, helping them assess the quality and compliance of their loan portfolios.

NMIH serves a broad spectrum of clients within the mortgage industry. Its customer base includes diverse financial institutions such as national and regional mortgage banks, money center banks, credit unions, and community banks. The company also caters to specialized lenders, including builder-owned mortgage lenders, internet-sourced lenders, and various other non-bank lenders, all seeking to manage the risk associated with residential mortgages.

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Here are 1-3 brief analogies for NMI Holdings, Inc. (NMIH):

  • It's like the FDIC for private mortgages.
  • It's like AIG for mortgage defaults.

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  • Private Mortgage Guaranty Insurance Services: These services protect lenders from financial losses if a borrower defaults on a mortgage loan.
  • Outsourced Loan Review Services: The company provides independent review services for mortgage loans to loan originators.

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NMI Holdings, Inc. (NMIH) sells primarily to other companies in the financial and mortgage industries. Based on the provided description, its major customers fall into the following categories:

  • National and regional mortgage banks
  • Money center banks
  • Credit unions
  • Community banks
  • Builder-owned mortgage lenders
  • Internet-sourced lenders
  • Other non-bank lenders

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Adam Pollitzer President and Chief Executive Officer

Adam Pollitzer became President and Chief Executive Officer of NMI Holdings, Inc. effective January 1, 2022. He previously served as the company's Executive Vice President and Chief Financial Officer from 2017 to 2021. Before joining NMI, Mr. Pollitzer was a Managing Director in the corporate and investment banking division of J.P. Morgan Securities, LLC, where he led advisory and capital-raising efforts for North American insurance companies. He holds a bachelor's degree in business administration from the Stephen M. Ross School of Business at the University of Michigan.

Aurora Swithenbank Chief Financial Officer

Aurora Swithenbank was appointed Executive Vice President and Chief Financial Officer of NMI Holdings, Inc., effective May 1, 2024. Prior to her role at NMI, she served as CFO at Vantage Group Holdings Ltd., a Bermuda-based specialty insurance and reinsurance group, where she was responsible for organizing the company's finance department as its first CFO. Ms. Swithenbank spent over 20 years at Goldman Sachs, holding various positions including Partner and Head of Insurance in the Americas Financing Group. She earned her bachelor's degree from Harvard University.

Bradley Shuster Executive Chairman

Bradley Shuster has served as Executive Chairman and Chairman of the Board of NMI Holdings, Inc. since January 2019. Mr. Shuster founded National MI, serving as its Chairman and Chief Executive Officer from 2012 to 2018. Before founding National MI, he was a senior executive at The PMI Group, Inc. (NYSE: PMI), where he was Chief Executive Officer of PMI Capital Corporation. Prior to joining PMI in 1995, Mr. Shuster was a partner at Deloitte LLP, leading Deloitte's Northern California Insurance and Mortgage Banking practices. He holds a B.S. from the University of California, Berkeley, and an M.B.A. from the University of California, Los Angeles, and is a CPA and CFA.

Mohammed Yousaf Chief of Operations and Technology

Mohammed Yousaf assumed the role of Executive Vice President, Chief of Operations and Technology for NMI Holdings, Inc. in January 2025. He joined National MI in 2018 and has held positions including EVP, Operations & IT (2022–2024), SVP & Chief Business Transformation Officer (2020–2021), and VP, Business Development & Technology Partnerships (2018–2020). Before his tenure at National MI, Mr. Yousaf was a Senior Managing Director overseeing servicing operations for Home Point Financial and held leadership positions at Mr. Cooper and Wells Fargo. His education includes studies at the Technical University of Budapest and a bachelor's degree in computer science from Metropolitan State University in St. Paul, Minneapolis.

Robert Smith Chief Risk Officer

Robert Smith is the Executive Vice President and Chief Risk Officer of NMI Holdings, Inc. He joined the company in 2012, initially serving as Vice President of Pricing and Portfolio Analytics, and later as Senior Vice President of Pricing and Portfolio Analytics. With over 18 years of experience in the mortgage and financial services industry, his prior roles include leadership positions at Washington Mutual and PMI Mortgage Insurance Co. Mr. Smith holds an M.S. degree in engineering and an M.B.A. from Stanford University, and is a Chartered Financial Analyst (CFA).

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The key risks to NMI Holdings, Inc. (NMIH) are as follows:
  • Regulatory Changes and Government-Sponsored Enterprise (GSE) Dependency: NMIH operates in a highly regulated industry and is significantly influenced by the requirements and practices of Government-Sponsored Enterprises (GSEs) such as Fannie Mae and Freddie Mac. Changes in comprehensive state insurance regulations, capital adequacy requirements (including PMIERs), or the business practices and federal legislation concerning GSEs could substantially reduce the private mortgage insurance market opportunity, impact the company's approved insurer status, and necessitate higher capital reserves or more expensive reinsurance.
  • Housing Market Slowdown and Increased Credit Risk: As a provider of private mortgage insurance, NMIH's business is directly tied to the health of the U.S. housing market. A slowdown in new mortgage applications due to factors such as high interest rates, a decline in home prices, or a decrease in borrower quality could lead to lower new business volumes, slower premium growth, increased default rates, and higher insurance claims and losses.
  • Intense Competition: The private mortgage insurance industry is highly competitive, with NMIH competing against several other private mortgage insurers and government-backed mortgage insurance programs like the Federal Housing Administration (FHA). This competitive environment can lead to pricing pressures, potential loss of customers, and reduced profitability as companies vie for market share.

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NMI Holdings, Inc. (NMIH) operates within two primary addressable markets: private mortgage guaranty insurance and outsourced loan review services, both predominantly within the United States. For its private mortgage guaranty insurance services, the global private mortgage insurance (PMI) market was valued at approximately $6.24 billion in 2024 and is projected to grow to $6.84 billion in 2025. This market is expected to reach $9.71 billion by 2029, growing at a compound annual growth rate (CAGR) of 9.2%. North America is identified as the largest PMI market as of 2024 and is expected to continue its steady growth. In terms of activity, nearly $1.6 trillion in mortgages carried private mortgage insurance coverage by the end of 2024 in the United States. The private mortgage insurance industry supported nearly $300 billion in mortgage originations in the U.S. in 2024. Regarding outsourced loan review services, which fall under the broader category of loan administration services, the U.S. loan administration, check cashing, and other services market was valued at approximately $25.1 billion in 2024. Loan administration services constitute a significant portion, leading this market with a 70% share. Therefore, the addressable market for loan administration services in the U.S. is estimated to be around $17.57 billion in 2024. This market is projected to reach $31.7 billion by 2032.

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NMI Holdings, Inc. (NMIH) is expected to drive future revenue growth over the next 2-3 years through several key factors:

  1. Growth in Primary Insurance in Force (IIF): A primary driver of revenue for mortgage insurers, the increase in the total outstanding principal balance of insured mortgages directly translates to higher net premiums earned. NMIH has reported consistent growth in its primary insurance in force, reaching $199.4 billion in Q1 2024, up 6.8% year-over-year.
  2. Strong New Insurance Written (NIW) Volume: Robust new business production, or New Insurance Written, is crucial for expanding the insured portfolio. The company generated $9.4 billion in NIW in Q1 2024 and $8.9 billion in Q4 2023, contributing to the growth of its overall insured portfolio.
  3. High Persistency Rate: The rate at which insurance policies remain active is a significant factor in maintaining and growing premium income. NMIH's persistency rate of 85.8% in Q1 2024 remains well above historical trends and is identified as an important driver for the embedded value and growth of its insured portfolio.
  4. Favorable Housing Market Conditions and Mortgage Originations: The demand for mortgage insurance is intrinsically linked to the health of the housing market and the volume of new mortgage originations. Analysts expect gradual interest rate cuts to boost originations, which would directly increase the pool of potential business for NMIH. The company has also shown a deliberate strategy to accept more higher loan-to-value (LTV) volume as the market stabilized and house prices began to climb.
  5. Expansion of Lender Base and Customer Development: NMIH focuses on expanding and deepening its relationships with mortgage loan originators. Ongoing customer development and the expansion of its lender base are key elements supporting business results, enabling the company to capture a larger share of new mortgage insurance opportunities.

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Share Repurchases

  • NMI Holdings, Inc. completed two share repurchase programs, totaling approximately US$223.57 million and retiring about 6.45 million shares.
  • In Q3 2025, the company repurchased $24.6 million of its common stock, following $23.2 million in repurchases during Q2 2025.
  • As of December 31, 2025, NMI Holdings had $226 million remaining under its current share repurchase authorization, which is effective through December 31, 2027.

Capital Expenditures

  • The company has focused on enhancing financial flexibility and capital efficiency through strategic initiatives, including the renewal and extension of its IT service agreement with TCS, aimed at improving IT solutions and achieving cost efficiencies.
  • Capital management also involves maintaining compliance with updated PMIERs (Private Mortgage Insurer Eligibility Requirements) requirements, which are expected to be fully implemented by September 30, 2026.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

NMIHRKTESNTWDFNMAFMCCMedian
NameNMI Rocket C.Essent Walker &.Federal .Federal . 
Mkt Price44.3413.7068.1250.515.965.5429.02
Mkt Cap3.438.76.41.735.017.912.2
Rev LTM7177,8501,3001,29829,17323,5524,575
Op Inc LTM---128--128
FCF LTM428-2,076819-1,54141,31319,669623
FCF 3Y Avg386-1,694820-39214,94811,349603
CFO LTM434-1,274827-1,52741,31319,669630
CFO 3Y Avg394-1,086829-37814,94811,349612

Growth & Margins

NMIHRKTESNTWDFNMAFMCCMedian
NameNMI Rocket C.Essent Walker &.Federal .Federal . 
Rev Chg LTM7.3%71.4%1.5%13.7%-3.1%-1.9%4.4%
Rev Chg 3Y Avg10.3%31.6%9.0%3.9%0.3%5.3%7.1%
Rev Chg Q5.9%161.3%5.8%26.9%1.5%4.8%5.9%
QoQ Delta Rev Chg LTM1.4%25.6%1.4%5.2%0.4%1.2%1.4%
Op Inc Chg LTM---19.9%--19.9%
Op Inc Chg 3Y Avg----9.6%---9.6%
Op Mgn LTM---9.9%--9.9%
Op Mgn 3Y Avg---10.1%--10.1%
QoQ Delta Op Mgn LTM---1.2%--1.2%
CFO/Rev LTM60.6%-16.2%63.6%-117.6%141.6%83.5%62.1%
CFO/Rev 3Y Avg59.6%-20.4%66.2%-26.1%50.7%48.6%49.7%
FCF/Rev LTM59.7%-26.4%63.0%-118.7%141.6%83.5%61.3%
FCF/Rev 3Y Avg58.4%-31.3%65.5%-27.4%50.7%48.6%49.7%

Valuation

NMIHRKTESNTWDFNMAFMCCMedian
NameNMI Rocket C.Essent Walker &.Federal .Federal . 
Mkt Cap3.438.76.41.735.017.912.2
P/S4.74.94.91.31.20.83.0
P/Op Inc---13.2--13.2
P/EBIT6.5-7.513.2--7.5
P/E8.8161.99.323.72.31.69.0
P/CFO7.8-30.47.7-1.10.80.90.9
Total Yield11.4%0.6%12.7%9.7%43.1%64.2%12.0%
Dividend Yield0.0%0.0%1.9%5.5%0.0%0.0%0.0%
FCF Yield 3Y Avg12.7%-52.6%13.5%-25.2%86.3%97.0%13.1%
D/E0.10.70.12.0119.8190.31.3
Net D/E-0.00.6-0.91.9119.4189.91.2

Returns

NMIHRKTESNTWDFNMAFMCCMedian
NameNMI Rocket C.Essent Walker &.Federal .Federal . 
1M Rtn7.6%-11.6%5.1%-6.2%-13.2%-10.6%-8.4%
3M Rtn7.8%-4.9%7.2%0.5%-16.9%-10.8%-2.2%
6M Rtn16.6%-34.0%11.0%-19.1%-26.7%-22.5%-20.8%
12M Rtn16.8%-9.9%23.2%-30.7%-30.3%-20.7%-15.3%
3Y Rtn32.3%33.7%45.8%-38.2%1,254.5%1,158.8%39.7%
1M Excs Rtn9.2%-9.9%6.7%-4.5%-11.6%-9.0%-6.7%
3M Excs Rtn4.4%-13.0%4.1%-3.0%-19.4%-13.3%-8.0%
6M Excs Rtn11.1%-39.7%5.9%-23.1%-34.6%-32.6%-27.9%
12M Excs Rtn2.8%-23.4%9.7%-45.1%-35.9%-26.7%-25.1%
3Y Excs Rtn-28.4%-23.1%-14.5%-99.3%1,149.3%1,067.5%-18.8%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Single Segment706651579524486
Total706651579524486


Price Behavior

Price Behavior
Market Price$44.34 
Market Cap ($ Bil)3.4 
First Trading Date05/14/2024 
Distance from 52W High0.0% 
   50 Days200 Days
DMA Price$39.25$38.65
DMA Trendindeterminateup
Distance from DMA13.0%14.7%
 3M1YR
Volatility26.5%23.8%
Downside Capture-84.940.55
Upside Capture-39.0418.88
Correlation (SPY)-17.6%10.3%
NMIH Betas & Captures as of 6/30/2026

 1M2M3M6M1Y3Y
Beta-0.34-0.18-0.050.140.230.05
Up Beta0.231.360.640.670.80-0.28
Down Beta0.25-0.05-0.30-0.03-0.010.16
Up Capture10%-34%-4%-1%6%9%
Bmk +ve Days11244067140429
Stock +ve Days14213466130287
Down Capture-147%-111%-86%1%20%52%
Bmk -ve Days10172358112321
Stock -ve Days7202958118239

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with NMIH
NMIH17.3%23.8%0.61-
Sector ETF (XLF)8.1%14.8%0.3141.1%
Equity (SPY)15.6%12.8%0.869.6%
Gold (GLD)21.6%28.1%0.68-9.5%
Commodities (DBC)31.5%19.7%1.27-22.2%
Real Estate (VNQ)15.9%14.0%0.8232.2%
Bitcoin (BTCUSD)-46.1%42.9%-1.32-11.1%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with NMIH
NMIH6.4%24.8%0.53-
Sector ETF (XLF)11.0%18.4%0.4656.8%
Equity (SPY)12.4%17.1%0.5535.1%
Gold (GLD)17.1%18.4%0.75-3.7%
Commodities (DBC)9.3%19.5%0.36-7.9%
Real Estate (VNQ)2.9%18.9%0.0545.1%
Bitcoin (BTCUSD)14.7%53.3%0.4610.0%

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Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with NMIH
NMIH3.2%24.8%0.53-
Sector ETF (XLF)13.5%22.0%0.5656.8%
Equity (SPY)14.7%17.9%0.7035.1%
Gold (GLD)11.3%16.1%0.57-3.7%
Commodities (DBC)7.1%18.0%0.32-7.9%
Real Estate (VNQ)5.1%20.7%0.2145.1%
Bitcoin (BTCUSD)57.7%66.2%0.9810.0%

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Short Interest

Short Interest: As Of Date7152026
Short Interest: Shares Quantity2.1 Mil
Short Interest: % Change Since 6302026-3.8%
Average Daily Volume0.5 Mil
Days-to-Cover Short Interest4.3 days
Basic Shares Quantity76.2 Mil
Short % of Basic Shares2.7%

Earnings Returns History

Updated 6/3/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
4/30/2026-3.9%-0.3%-8.2%
2/10/20261.8%-1.3%-7.6%
11/4/2025-1.8%0.6%0.1%
7/29/2025-1.6%-0.3%4.6%
4/29/20257.5%12.9%17.3%
2/6/2025-4.8%-8.4%-10.7%
11/6/2024-5.2%-2.8%0.0%
7/30/20240.4%-6.9%2.8%
...
SUMMARY STATS   
# Positive325
# Negative563
Median Positive1.8%6.7%2.8%
Median Negative-3.9%-2.0%-8.2%
Max Positive7.5%12.9%17.3%
Max Negative-5.2%-8.4%-10.7%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
4/30/2026-3.9%-0.3%-8.2%
2/10/20261.8%-1.3%-7.6%
11/4/2025-1.8%0.6%0.1%
7/29/2025-1.6%-0.3%4.6%
4/29/20257.5%12.9%17.3%
2/6/2025-4.8%-8.4%-10.7%
11/6/2024-5.2%-2.8%0.0%
7/30/20240.4%-6.9%2.8%
SUMMARY STATS   
# Positive325
# Negative563
Median Positive1.8%6.7%2.8%
Median Negative-3.9%-2.0%-8.2%
Max Positive7.5%12.9%17.3%
Max Negative-5.2%-8.4%-10.7%

SEC Filings

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Report DateFiling DateFiling
03/31/202605/01/202610-Q
12/31/202502/12/202610-K
09/30/202511/05/202510-Q
06/30/202507/30/202510-Q
03/31/202504/30/202510-Q
12/31/202402/14/202510-K
09/30/202411/07/202410-Q
06/30/202407/31/202410-Q
03/31/202405/01/202410-Q
12/31/202302/15/202410-K
09/30/202311/02/202310-Q
06/30/202308/02/202310-Q
03/31/202305/03/202310-Q
12/31/202202/15/202310-K
09/30/202211/02/202210-Q
06/30/202208/03/202210-Q
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Report DateFiling DateFiling
03/31/202605/01/202610-Q
12/31/202502/12/202610-K
09/30/202511/05/202510-Q
06/30/202507/30/202510-Q
03/31/202504/30/202510-Q
12/31/202402/14/202510-K
09/30/202411/07/202410-Q
06/30/202407/31/202410-Q
03/31/202405/01/202410-Q
12/31/202302/15/202410-K
09/30/202311/02/202310-Q
06/30/202308/02/202310-Q
03/31/202305/03/202310-Q
12/31/202202/15/202310-K
09/30/202211/02/202210-Q
06/30/202208/03/202210-Q
03/31/202205/05/202210-Q
12/31/202102/16/202210-K
09/30/202111/03/202110-Q
06/30/202108/04/202110-Q
03/31/202105/05/202110-Q
12/31/202002/24/202110-K
09/30/202011/05/202010-Q
06/30/202008/06/202010-Q
03/31/202005/07/202010-Q
12/31/201902/14/202010-K
09/30/201911/07/201910-Q
06/30/201908/01/201910-Q

Insider Activity

Updated 5/20/2026
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#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Montgomery, Michael Curry DirectSell520202637.901,55458,8972,616,092Form
2Shuster, Bradley MExecutive ChairmanDirectSell325202637.3518,953707,83215,514,230Form
3Shuster, Bradley MExecutive ChairmanDirectSell319202637.0518,996703,88515,392,805Form
4Shuster, Bradley MExecutive ChairmanDirectSell312202636.5818,976694,14815,195,859Form
5Shuster, Bradley MExecutive ChairmanDirectSell306202638.9119,430755,94416,161,980Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Montgomery, Michael Curry DirectSell520202637.901,55458,8972,616,092Form
2Shuster, Bradley MExecutive ChairmanDirectSell325202637.3518,953707,83215,514,230Form
3Shuster, Bradley MExecutive ChairmanDirectSell319202637.0518,996703,88515,392,805Form
4Shuster, Bradley MExecutive ChairmanDirectSell312202636.5818,976694,14815,195,859Form
5Shuster, Bradley MExecutive ChairmanDirectSell306202638.9119,430755,94416,161,980Form
6Shuster, Bradley MExecutive ChairmanDirectSell227202639.8519,557779,42716,555,832Form
7Shuster, Bradley MExecutive ChairmanDirectSell218202639.6355,0002,179,62216,462,530Form
8Fitzgerald, Norman PeterEVP, Chief Sales OfficerDirectSell218202639.9422,500898,6341,295,831Form
9Yousaf, Mohammad NawazEVP, Chief of Ops and TechDirectSell218202639.8916,000638,2001,544,963Form
10Embler, Michael J DirectSell1124202536.9020,000738,0001,699,097Form
11Scheid, Steven Scheid Family Trust, of which Mr. Scheid and his wife are co-trustees and beneficiariesSell917202539.3119,926783,3573,104,178Form
12Realmuto, Nicholas DanielVP, ControllerDirectSell916202538.5229111,209281,812Form
13Shuster, Bradley MExecutive ChairmanDirectSell606202539.5621,545852,28416,210,675Form
14Leatherberry, William JChief Admin. Officer & GCDirectSell530202539.6718,121718,8605,346,961Form
15Montgomery, Michael Curry DirectSell514202538.051,87571,3452,513,920Form
16Smith, Robert OwenEVP, Chief Risk OfficerDirectSell502202536.5820,000731,5823,093,348Form
17Leatherberry, William JChief Admin. Officer & GCDirectSell502202536.6410,889398,9535,602,237Form
18Pollitzer, AdamChief Executive OfficerDirectSell502202536.5457,1662,089,05112,039,837Form
19Leatherberry, William JChief Admin. Officer & GCDirectSell502202535.5613,111466,2275,824,586Form

Investor Activity (13F)

Updated Jul 30, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Muhlenkamp & Co Inc$13.7 Mil3.6%29TRIM -21.7%13F
Active Manager
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Muhlenkamp & Co Inc$13.7 Mil3.6%29TRIM -21.7%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Muhlenkamp & Co Inc$13.7 Mil3.6%29TRIM -21.7%13F
Core Cache Last Updated: 7/29/2026