Based on 149 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added NEWT 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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At the ownership peak (100% of max)
100% of all-time peak
149 hedge funds hold NEWT 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 — +21% more funds vs a year ago
fund count last 6Q
+26 new funds entered over the past year (+21% 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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More buyers than sellers — 65% buying
93 buying49 selling
Last quarter: 93 funds were net buyers (22 opened a brand new position + 71 added to an existing one). Only 49 were sellers (31 trimmed + 18 sold completely). A clear majority buying is a strong confirmation signal.
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Fewer new buyers each quarter (-7 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 22 → 22 → 29 → 22. 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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51% of holders stayed for 2+ years
■ 51% conviction (2yr+)
■ 27% medium
■ 22% new
76 out of 149 hedge funds have held NEWT 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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Value +30% but shares only +5% — price-driven
Last quarter: the total dollar value of institutional holdings rose +30%, but actual share count only changed +5%. 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.
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Growing discovery — still being found
21 → 22 → 22 → 29 → 22 new funds/Q
New funds entering each quarter: 22 → 22 → 29 → 22. A growing number of institutions are discovering NEWT each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 58% veterans vs 27% newcomers
■ 58% veterans
■ 15% 1-2yr
■ 27% new
Entry-cohort mix of 151 holders: 87 (58%) are 2+ year veterans, 23 entered 1–2 years ago, and 41 (27%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 50% AUM from top-100 funds
50% from top-100 AUM funds
38 of 148 holders are among the 100 largest funds by AUM, controlling 50% of total institutional value in NEWT. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.