Based on 6 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added NDOW than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
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High ownership — 86% of 2.2Y peak
86% of all-time peak
6 funds currently hold this stock — 86% of the 2.2-year high of 7 funds (reached 2025 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 14% fewer funds vs a year ago
fund count last 6Q
1 fewer hedge funds hold NDOW compared to a year ago (-14% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More buyers than sellers — 83% buying
5 buying1 selling
Last quarter: 5 funds were net buyers (3 opened a brand new position + 2 added to an existing one). Only 1 were sellers (0 trimmed + 1 sold completely). A clear majority buying is a strong confirmation signal.
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Steady new buyers — ~3 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 0 → 1 → 0 → 3. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mixed — 33% long-term, 50% new
■ 33% conviction (2yr+)
■ 17% medium
■ 50% new
Of the 6 current holders: 2 (33%) held >2 years, 1 held 1–2 years, and 3 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
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Steady discovery — ~3 new funds/quarter
1 → 0 → 1 → 0 → 3 new funds/Q
New funds entering each quarter: 0 → 1 → 0 → 3. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Mixed cohorts — 0% veterans, 50% new entrants
■ 0% veterans
■ 50% 1-2yr
■ 50% new
Of 6 current holders: 0 (0%) held 2+ years, 3 held 1–2 years, 3 (50%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Smaller funds dominant — 0% AUM from top-100
0% from top-100 AUM funds
1 of 6 holders rank in the top 100 by AUM, but together hold only 0% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.