Based on 12 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added NFXL 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
12 hedge funds hold NFXL 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.
🚀
Fast accumulation — +71% more funds vs a year ago
fund count last 6Q
+5 new funds entered over the past year (+71% 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.
🟢
More buyers than sellers — 85% buying
11 buying2 selling
Last quarter: 11 funds were net buyers (8 opened a brand new position + 3 added to an existing one). Only 2 were sellers (0 trimmed + 2 sold completely). A clear majority buying is a strong confirmation signal.
📈
More new buyers each quarter (+7 vs last Q)
new funds entering per quarter
Funds opening a new NFXL position: 2 → 4 → 1 → 8. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔄
Mostly new holders — 58% entered in last year
■ 8% conviction (2yr+)
■ 33% medium
■ 58% new
Only 1 funds (8%) 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.
💎
Buying through price weakness — shares +254%, value +94%
Last quarter: funds added +254% more shares while total portfolio value only changed +94%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~8 new funds/quarter
7 → 2 → 4 → 1 → 8 new funds/Q
New funds entering each quarter: 2 → 4 → 1 → 8. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🌱
Early stage — 92% of holders entered in last year
■ 8% veterans
■ 0% 1-2yr
■ 92% new
Of 12 current holders: 11 (92%) entered in the past year, only 1 (8%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
🏆
Elite ownership — 81% AUM from top-100 funds
81% from top-100 AUM funds
5 of 12 holders are among the 100 largest funds by AUM, controlling 81% of total institutional value in NFXL. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.8
out of 10
Moderate Exit Risk
Exit risk score 4.8/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.