The Nostoc genus is a well-known heterocytous, filamentous cyanobacterium which can be found all over the world. The size of terrestrial and/or freshwater colonies can be microscopic and macroscopic as well. In addition, Nostoc species are one of the most common photosynthetic cyanobacterial partners in symbiotic interactions. Terrestrial cyanobacterial colonies were collected and isolated in this study from various alkali grassland habitats (Great Hungarian Plain). Altogether 133 colonies were isolated from the 65 collected samples. The peptide patterns of the Nostoc-like strains were examined using HPLC-ESI-MS/MS and 41 peptides were identified from 45 isolated Nostoc-like strains; these compounds belonged to 4 different peptide classes. Twelve nostoginin/microginin, 16 anabaenopeptin, 12 banyaside/suomilide variants were identified. 37% of our isolated Nostoc-like strains produced some of the peptide metabolites we tested. These strains showed distinct chemotypes according to their peptide patterns, and can be divided into 4 groups based on their metabolisms. Strains either contained: (1) nostoginins/microginins, (2) anabaenopeptins, (3) anabaenopeptins and banyasides or (4) banyasides as major compounds. Banyasides were present in many of our strains and showed very high intensity in some cases. A number of previously unknown banyaside variants have been identified.