National Bank Holdings Corporation reports that BlackRock, Inc. beneficially owns 5,382,996 shares of Class A Stock, representing 12.0% of the class. The filing attributes 5,330,092 shares of sole voting power and 5,382,996 shares of sole dispositive power to BlackRock. The submission is an amendment signed by a BlackRock managing director on 04/24/2026.
Positive
None.
Negative
None.
Insights
BlackRock holds a sizable 12.0% stake in NBHC as reported.
BlackRock's reported position is a substantial passive ownership block: 5,382,996 shares of Class A stock with 5,330,092 sole voting shares. The filing is a Schedule 13G/A amendment reflecting beneficial ownership aggregated across Reporting Business Units.
Voting and dispositive counts are explicitly provided; shareholders and market watchers may note the iShares Core S&P Small-Cap ETF is named as an entity holding more than 5% on behalf of others.
The amendment clarifies ownership and identification details required under Schedule 13G rules.
It lists address, CUSIP (633707104), and the classification note about aggregated Reporting Business Units per SEC Release No. 34-39538. Item 7 exhibits are referenced for subsidiary attribution if relevant.
Practically, this is an ownership disclosure update rather than a transactional disclosure; it documents control/voting and dispositive counts for regulatory transparency.
Key Figures
Beneficially owned shares:5,382,996 sharesPercent of class:12.0%Sole voting power:5,330,092 shares+3 more
6 metrics
Beneficially owned shares5,382,996 sharesAmount beneficially owned reported on Schedule 13G/A
Percent of class12.0%Percent of Class A stock beneficially owned
Sole voting power5,330,092 sharesShares for which BlackRock has sole power to vote
Sole dispositive power5,382,996 sharesShares for which BlackRock has sole power to dispose
CUSIP633707104Class A Stock CUSIP for NBHC
Amendment signature date04/24/2026Date signature was provided on Amendment No. 11
Key Terms
Schedule 13G/A, beneficially owned, sole dispositive power, Reporting Business Units
4 terms
Schedule 13G/Aregulatory
"In accordance with SEC Release No. 34-39538 (January 12, 1998), this reflects the securities beneficially owned"
A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.
beneficially ownedfinancial
"Amount beneficially owned: 5382996 (b) Percent of class: 12.0 %"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
sole dispositive powerregulatory
"Sole power to dispose or to direct the disposition of: 5382996"
Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.
Reporting Business Unitsregulatory
"aggregated across the Reporting Business Units of BlackRock, Inc. and its subsidiaries"
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 11)
NATIONAL BANK HOLDINGS CORPORATION
(Name of Issuer)
Class A Stock
(Title of Class of Securities)
633707104
(CUSIP Number)
03/31/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
633707104
1
Names of Reporting Persons
BlackRock, Inc.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
5,330,092.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
5,382,996.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
5,382,996.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
12.0 %
12
Type of Reporting Person (See Instructions)
HC
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
NATIONAL BANK HOLDINGS CORPORATION
(b)
Address of issuer's principal executive offices:
7800 EAST ORCHARD ROAD SUITE 300 GREENWOOD VILLAGE CO 80111
Item 2.
(a)
Name of person filing:
BlackRock, Inc.
In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by certain business units (collectively, the "Reporting Business Units") of BlackRock, Inc. and its subsidiaries and affiliates. It does not include securities, if any, beneficially owned by other business units whose beneficial ownership of securities are disaggregated from that of the Reporting Business Units in accordance with such release.
(b)
Address or principal business office or, if none, residence:
BlackRock, Inc., 50 Hudson Yards New York, NY 10001
(c)
Citizenship:
See Item 4 of Cover Page
(d)
Title of class of securities:
Class A Stock
(e)
CUSIP No.:
633707104
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
5382996
(b)
Percent of class:
12.0 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
5330092
(ii) Shared power to vote or to direct the vote:
0
(iii) Sole power to dispose or to direct the disposition of:
5382996
(iv) Shared power to dispose or to direct the disposition of:
0
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
The interest of 1 such person, iShares Core S&P Small-Cap ETF, in the common stock of NATIONAL BANK HOLDINGS CORPORATION is more than five percent of the total outstanding common stock.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
See Exhibit 99
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
