National Beverage Corp.
US ˙ NasdaqGS ˙ US6350171061

SecurityFIZZ / National Beverage Corp.
InstitutionComerica Bank
Latest Disclosed Ownership5,924 shares
Latest Disclosed Value $ 188,911
Comerica Bank reports 13.77% decrease in ownership of FIZZ / National Beverage Corp.

On January 29, 2026 - Comerica Bank filed a 13F-HR form disclosing ownership of 5,924 shares of National Beverage Corp. (US:FIZZ) valued at $188,916 USD as of December 31, 2025. The entity filed a previous 13F-HR on November 14, 2025 disclosing 6,870 shares of National Beverage Corp.. This represents a change in shares of -13.77% during the quarter. The current value of the position is $205,741 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-01-29 2025-12-31 13F NATIONAL BEVERAGE COM 635017106 5,924 -946 -13.77 189 -25.69 0.0008
2025-11-14 2025-09-30 13F NATIONAL BEVERAGE COM 635017106 6,870 -2,281 -24.93 254 -35.95 0.0010
2025-08-14 2025-06-30 13F NATIONAL BEVERAGE COM 635017106 9,151 267 3.01 396 7.05 0.0015
2025-05-14 2025-03-31 13F NATIONAL BEVERAGE COM 635017106 8,884 9 0.10 369 -2.38 0.0015
2025-02-14 2024-12-31 13F/A-1 NATIONAL BEVERAGE COM 635017106 8,875 -982 -9.96 379 -18.18 0.0015
2025-02-14 2024-12-31 13F NATIONAL BEVERAGE COM 635017106 8,875 -982 379 0.0013
2024-11-14 2024-09-30 13F NATIONAL BEVERAGE COM 635017106 9,857 -302 -2.97 463 -11.15 0.0018
2024-08-15 2024-06-30 13F NATIONAL BEVERAGE COMMON 635017106 10,159 -942 -8.49 521 -1.14 0.0022
2024-05-16 2024-03-31 13F NATIONAL BEVERAGE COMMON 635017106 11,101 -998 -8.25 527 -12.48 0.0023
2024-02-14 2023-12-31 13F NATIONAL BEVERAGE COMMON 635017106 12,099 -96 -0.79 602 4.89 0.0028
2023-11-21 2023-09-30 13F NATIONAL BEVERAGE COMMON 635017106 12,195 10,472 607.78 573 0.0030
2023-08-22 2023-06-30 13F NATIONAL BEVERAGE EQU 635017106 1,723 -9,223 -84.26 0 0.0000
2023-01-26 2022-12-31 13F NATIONAL BEVERAGE COM 635017106 10,946 -3,930 -26.42 0 -100.00 0.0038
2022-10-28 2022-09-30 13F NATIONAL BEVERAGE COM 635017106 14,876 -2,145 -12.60 640 -21.86 0.0054
2022-08-02 2022-06-30 13F NATIONAL BEVERAGE COM 635017106 17,021 350 2.10 819 5.41 0.0067
2022-04-27 2022-03-31 13F NATIONAL BEVERAGE COM 635017106 16,671 -596 -3.45 777 4.02 0.0056
2022-02-18 2021-12-31 13F NATIONAL BEVERAGE COM 635017106 17,267 -1,198 -6.49 747 -28.92 0.0055
2021-11-22 2021-09-30 13F NATIONAL BEVERAGE COM 635017106 18,465 -687 -3.59 1,051 28.17 0.0063
2021-08-26 2021-06-30 13F NATIONAL BEVERAGE COM 635017106 19,152 -4,394 -18.66 820 -33.55 0.0049
2021-04-28 2021-03-31 13F NATIONAL BEVERAGE COM 635017106 23,546 11,278 91.93 1,234 2.15 0.0074
2021-01-28 2020-12-31 13F NATIONAL BEVERAGE COM 635017106 12,268 3 0.02 1,208 13.11 0.0077
2020-10-30 2020-09-30 13F NATIONAL BEVERAGE COM 635017106 12,265 -37 -0.30 1,068 30.09 0.0078
2020-07-31 2020-06-30 13F NATIONAL BEVERAGE COM 635017106 12,302 1,023 9.07 821 41.55 0.0063
2020-05-01 2020-03-31 13F NATIONAL BEVERAGE COM 635017106 11,279 379 3.48 580 20.83 0.0053
2020-02-07 2019-12-31 13F NATIONAL BEVERAGE COM 635017106 10,900 -25 -0.23 480 -11.60 0.0036
2019-10-31 2019-09-30 13F NATIONAL BEVERAGE COM 635017106 10,925 10,925 543 0.0043
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.