Based on 1835 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 5 quarters in a row
For 5 consecutive quarters, more hedge funds added NEM 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
1,835 hedge funds hold NEM right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
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Fast accumulation — +53% more funds vs a year ago
fund count last 6Q
+633 new funds entered over the past year (+53% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
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Slight buying edge — 54% buying
991 buying847 selling
Last quarter: 991 funds bought or added vs 847 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.
⚠️
Fewer new buyers each quarter (-30 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 229 → 284 → 317 → 287. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
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53% of holders stayed for 2+ years
■ 53% conviction (2yr+)
■ 20% medium
■ 27% new
964 out of 1,835 hedge funds have held NEM for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
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Growing discovery — still being found
209 → 229 → 284 → 317 → 287 new funds/Q
New funds entering each quarter: 229 → 284 → 317 → 287. A growing number of institutions are discovering NEM each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 60% veterans vs 30% newcomers
■ 60% veterans
■ 10% 1-2yr
■ 30% new
Entry-cohort mix of 1,925 holders: 1,157 (60%) are 2+ year veterans, 191 entered 1–2 years ago, and 577 (30%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 42% AUM from top-100 funds
42% from top-100 AUM funds
66 of 1826 holders are among the 100 largest funds by AUM, controlling 42% of total institutional value in NEM. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.3
out of 10
Moderate Exit Risk
Exit risk score 4.3/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.