Based on 4 hedge funds · latest filing: 2026 Q2 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added NLST 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
4 hedge funds hold NLST 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 — +100% more funds vs a year ago
fund count last 6Q
+2 new funds entered over the past year (+100% 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 — 75% buying
3 buying1 selling
Last quarter: 3 funds were net buyers (2 opened a brand new position + 1 added to an existing one). Only 1 were sellers (0 trimmed + 1 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~2 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 0 → 1 → 0 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 25% long-term, 75% new
■ 25% conviction (2yr+)
■ 0% medium
■ 75% new
Of the 4 current holders: 1 (25%) held >2 years, 0 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.
💰
Value +643% but shares only +146% — price-driven
Last quarter: the total dollar value of institutional holdings rose +643%, but actual share count only changed +146%. 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
1 → 0 → 1 → 0 → 2 new funds/Q
New funds entering each quarter: 0 → 1 → 0 → 2. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🌱
Early stage — 75% of holders entered in last year
■ 25% veterans
■ 0% 1-2yr
■ 75% new
Of 4 current holders: 3 (75%) entered in the past year, only 1 (25%) 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.
📋
Smaller funds dominant — 0% AUM from top-100
0% from top-100 AUM funds
0 of 4 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.
5.9
out of 10
Moderate Exit Risk
Exit risk score 5.9/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.