Based on 17 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their NEHCW positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 81% of 3.0Y peak
81% of all-time peak
17 funds currently hold this stock — 81% of the 3.0-year high of 21 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 — 19% fewer funds vs a year ago
fund count last 6Q
4 fewer hedge funds hold NEHCW compared to a year ago (-19% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟡
Slight buying edge — 50% buying
6 buying6 selling
Last quarter: 6 funds bought or added vs 6 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
➡️
Steady new buyers — ~2 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 4 → 5 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 47% entered in last year
■ 18% conviction (2yr+)
■ 35% medium
■ 47% new
Only 3 funds (18%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
💰
Value +188% but shares only +22% — price-driven
Last quarter: the total dollar value of institutional holdings rose +188%, but actual share count only changed +22%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
➡️
Steady discovery — ~2 new funds/quarter
4 → 2 → 4 → 5 → 2 new funds/Q
New funds entering each quarter: 2 → 4 → 5 → 2. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 18% veterans, 53% new entrants
■ 18% veterans
■ 29% 1-2yr
■ 53% new
Of 17 current holders: 3 (18%) held 2+ years, 5 held 1–2 years, 9 (53%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Smaller funds dominant — 3% AUM from top-100
3% from top-100 AUM funds
2 of 17 holders rank in the top 100 by AUM, but together hold only 3% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.