National Bankshares Inc: which funds bought and sold

Institutions that bought and sold National Bankshares shares in Q2 2026, from the holdings they reported to the SEC on Form 13F for March 31, 2026 and June 30, 2026.

Between March 31, 2026 and June 30, 2026, 57 institutions that filed 13F reports for both quarters added to or opened positions in National Bankshares, and 28 cut or closed them. Together they sold a net 27K shares, −1.2% on what they held at the start of the quarter. Active managers and hedge funds on our list were net buyers of 187K shares (+58.7%); index fund managers were net buyers of 122K shares (+11.2%). 19 opened a new position and 13 sold out entirely.

Bought, Q2 2026 57 institutions, 19 of them new holders Sold, Q2 2026 28 institutions, 13 of them sold out

Net change, all compared −27K shares (−1.2%)

Net change, active managers +187K shares (+58.7%), 14 bought, 1 sold

Buyers versus sellers

institutions compared, 108

57 bought 23 28 sold

Active managers and hedge funds 14 bought · 1 sold · +187K

Index fund managers 8 bought · 1 sold · +122K

Other institutions 35 bought · 26 sold · −336K

Biggest buyers

by change in shares held

Biggest buyers
Institution	Change in shares	Shares June 30, 2026	Value
Acadian Asset Management LLC Active manager	+92K +223.8%	133K	$4.8M
Arrowstreet Capital, Limited Partnership Hedge fund	+89K New position	89K	$3.2M
Blackrock, Inc. Index funds	+88K +20.0%	530K	$19.2M
Citadel Advisors LLC Hedge fund	+36K +494.3%	43K	$1.6M
Renaissance Technologies LLC Hedge fund	+34K +116.3%	63K	$2.3M
Marshall Wace, LLP Hedge fund	+26K +133.4%	46K	$1.7M
Two Sigma Investments, LP Hedge fund	+21K New position	21K	$769,142
AQR Capital Management LLC Hedge fund	+18K +239.0%	25K	$911,847
Connor, Clark & Lunn Investment Management Ltd.	+16K New position	16K	$584,441
Martingale Asset Management L P Active manager	+16K New position	16K	$571,326
Geode Capital Management, LLC Index funds	+14K +9.4%	165K	$6M
Trexquant Investment LP Hedge fund	+13K New position	13K	$483,807
Dimensional Fund Advisors LP	+13K +9.6%	147K	$5.3M
Los Angeles Capital Management LLC Active manager	+12K New position	12K	$419,793
Xtx Topco Ltd	+11K New position	11K	$407,877
Millennium Management LLC Hedge fund	+11K New position	11K	$407,114
Price T Rowe Associates Inc Active manager	+7,488 +37.0%	28K	$1M
Invesco Ltd.	+7,421 New position	7,421	$269,605
Integrated Wealth Concepts LLC	+7,169 +99.5%	14K	$522,281
Vanguard Portfolio Management LLC Index funds	+6,707 +18.6%	43K	$1.6M

Biggest buyers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Acadian Asset Management LLC Active manager	+92K +223.8%	133K	$4.8M
Arrowstreet Capital, Limited Partnership Hedge fund	+89K New position	89K	$3.2M
Citadel Advisors LLC Hedge fund	+36K +494.3%	43K	$1.6M
Renaissance Technologies LLC Hedge fund	+34K +116.3%	63K	$2.3M
Marshall Wace, LLP Hedge fund	+26K +133.4%	46K	$1.7M
Two Sigma Investments, LP Hedge fund	+21K New position	21K	$769,142
AQR Capital Management LLC Hedge fund	+18K +239.0%	25K	$911,847
Martingale Asset Management L P Active manager	+16K New position	16K	$571,326
Trexquant Investment LP Hedge fund	+13K New position	13K	$483,807
Los Angeles Capital Management LLC Active manager	+12K New position	12K	$419,793

Biggest sellers

by change in shares held

Biggest sellers
Institution	Change in shares	Shares June 30, 2026	Value
Fourthstone LLC	−289K Sold out	0	—
Brandes Investment Partners, LP Active manager	−193K Sold out	0	—
Rhino Investment Partners, Inc	−70K Sold out	0	—
UBS Group AG	−14K −84.4%	2,646	$96,129
Occudo Quantitative Strategies LP	−11K Sold out	0	—
Morgan Stanley	−7,432 −34.2%	14K	$518,687
Envestnet Asset Management Inc	−6,824 Sold out	0	—
Gts Securities LLC	−6,800 Sold out	0	—
LPL Financial LLC	−6,347 −12.2%	46K	$1.7M
Jane Street Group, LLC	−6,117 Sold out	0	—
Goldman Sachs Group Inc	−5,556 −25.9%	16K	$577,429
Royal Bank Of Canada	−5,443 −87.4%	787	$28,000
State Of Wyoming	−1,678 Sold out	0	—
Vanguard Capital Management LLC Index funds	−1,060 −0.4%	269K	$9.8M
Tower Research Capital LLC (TRC)	−889 −50.3%	878	$31,898
HSBC Holdings PLC	−777 −11.0%	6,271	$227,512
D.A. Davidson & Co.	−500 −4.9%	9,630	$349,858
Rockefeller Capital Management L.P.	−500 Sold out	0	—
Fifth Third Bancorp	−296 Sold out	0	—
California State Teachers Retirement System	−250 −74.2%	87	$3,161

Biggest sellers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Brandes Investment Partners, LP Active manager	−193K Sold out	0	—

New positions

largest by value

Institution	Shares	Value June 30, 2026
Arrowstreet Capital, Limited PartnershipHedge fund	89K	$3.2M
Two Sigma Investments, LPHedge fund	21K	$769,142
Connor, Clark & Lunn Investment Management Ltd.	16K	$584,441
Martingale Asset Management L PActive manager	16K	$571,326
Trexquant Investment LPHedge fund	13K	$483,807
Los Angeles Capital Management LLCActive manager	12K	$419,793
Xtx Topco Ltd	11K	$407,877
Millennium Management LLCHedge fund	11K	$407,114
Invesco Ltd.	7,421	$269,605
State Of Wisconsin Investment Board	5,966	$216,745

Sold out

largest by value

Institution	Shares	Value March 31, 2026
Fourthstone LLC	289K	$10.5M
Brandes Investment Partners, LPActive manager	193K	$7M
Rhino Investment Partners, Inc	70K	$2.6M
Occudo Quantitative Strategies LP	11K	$377,279
Envestnet Asset Management Inc	6,824	$248,446
Gts Securities LLC	6,800	$247,588
Jane Street Group, LLC	6,117	$222,720
State Of Wyoming	1,678	$61,096
Rockefeller Capital Management L.P.	500	$18,205
Fifth Third Bancorp	296	$10,778

Who holds the shares

13F holdings at June 30, 2026

Institutions reporting: 95
Ten largest holders: 69.0%
Index fund managers: 52.8%
Active managers and hedge funds: 21.9%

Buying and selling by type of institution, March 31, 2026 to June 30, 2026
Type	Bought	Sold	New	Sold out	Net change in shares	Net %
Active managers and hedge funds	14	1	7	1	+187K	+58.7%
Index fund managers	8	1	0	0	+122K	+11.2%
Other institutions	35	26	12	12	−336K	−36.6%

Active managers and hedge funds: a list we maintain of about 400 well-known stock-picking firms and hedge funds, matched by SEC registration number (CIK) and checked against the filer names each quarter. Index fund managers: the large index houses, such as BlackRock, Vanguard, State Street, Geode and Northern Trust. Every other filer (banks, brokers, wealth managers, pension funds, insurers and firms not on the list) counts as another institution. A firm that files under several SEC registrations appears once for each.

What these filings can and cannot tell you

Form 13F lists the long positions in US-listed shares held by investment managers with more than $100 million in such holdings. Managers file it up to 45 days after each quarter ends, so this page shows what funds held at the end of each quarter, not what they are doing now: a position may have changed since. Short positions, most derivatives and smaller managers are not included, and a cut can mean a fund lost clients or rebalanced rather than a view on National Bankshares.

Only managers that filed a holdings report for both quarters are compared (108 here). 2 other holders are left out: first-time or late filers, firms that changed their SEC registration, and filings that withheld positions under confidential treatment, any of which would otherwise look like a new position or a sale. Figures are as reported by each manager in the SEC's quarterly 13F data sets; option positions are excluded.

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