[SCHEDULE 13G/A] National Bank Holdings Corp SEC Filing

Rhea-AI Filing Summary

T. Rowe Price Investment Management, Inc. filed an amended Schedule 13G/A disclosing beneficial ownership of 1,286,405 shares of National Bank Holdings (NBHC) common stock, representing 3.4% of the class as of 09/30/2025.

The filer reports sole voting power over 1,277,041 shares and sole dispositive power over 1,286,405 shares, with no shared voting or dispositive power. The filing indicates ownership of 5 percent or less of the class and includes a certification that the securities were acquired and are held in the ordinary course of business and not to change or influence control.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 4)

NATIONAL BANK HOLDINGS-CL A

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

633707104

(CUSIP Number)

09/30/2025

(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)

SCHEDULE 13G

CUSIP No. 633707104

1

Names of Reporting Persons

T. Rowe Price Investment Management, 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

MARYLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,277,041.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,286,405.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,286,405.00

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)

3.4 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: NATIONAL BANK HOLDINGS-CL A
(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: T. Rowe Price Investment Management, Inc.
(b)	Address or principal business office or, if none, residence: 1307 Point Street, Baltimore, MD 21231
(c)	Citizenship: Maryland
(d)	Title of class of securities: COMMON 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: 1286405
(b)	Percent of class: 3.4 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1277041
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 1286405
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
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. T. Rowe Price Investment Management, Inc. hereby declares and affirms that the filing of Schedule 13G shall not be construed as an admission that Price Investment Management is the beneficial owner of the securities referred to, which beneficial ownership is expressly denied.

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.

T. Rowe Price Investment Management, Inc.

Signature:	Ellen York
Name/Title:	Vice President
Date:	11/14/2025

FAQ

What stake in NBHC did T. Rowe Price report on Schedule 13G/A?

They reported 1,286,405 shares of NBHC common stock, equal to 3.4% of the class as of 09/30/2025.

What voting and dispositive powers were disclosed by T. Rowe Price for NBHC?

They disclosed sole voting power over 1,277,041 shares and sole dispositive power over 1,286,405 shares, with no shared power.

Did T. Rowe Price report owning more than 5% of NBHC?

No. The filing states ownership of 5 percent or less of the class.

What is the date of the event requiring this NBHC filing?

The event date is 09/30/2025.

What is the filer type for T. Rowe Price in this NBHC 13G/A?

The filer is classified as IA (Investment Adviser).

What purpose does T. Rowe Price state for holding NBHC shares?

They certify the shares were acquired and are held in the ordinary course of business and not to change or influence control.

Was this filing signed and by whom?

Yes. It was signed by Ellen York, Vice President, dated 11/14/2025.