Based on 53 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds added NMG 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
53 hedge funds hold NMG 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 — +83% more funds vs a year ago
fund count last 6Q
+24 new funds entered over the past year (+83% 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 — 68% buying
34 buying16 selling
Last quarter: 34 funds were net buyers (16 opened a brand new position + 18 added to an existing one). Only 16 were sellers (9 trimmed + 7 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~16 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 3 → 12 → 17 → 16. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 32% long-term, 47% new
■ 32% conviction (2yr+)
■ 21% medium
■ 47% new
Of the 53 current holders: 17 (32%) held >2 years, 11 held 1–2 years, and 25 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.
💎
Buying through price weakness — shares -19%, value -100%
Last quarter: funds added -19% more shares while total portfolio value only changed -100%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
🚀
Acceleration phase — new buyers rushing in
7 → 3 → 12 → 17 → 16 new funds/Q
New funds entering each quarter: 3 → 12 → 17 → 16. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
🏛️
Veteran-anchored — 40% veterans vs 51% newcomers
■ 40% veterans
■ 9% 1-2yr
■ 51% new
Entry-cohort mix of 57 holders: 23 (40%) are 2+ year veterans, 5 entered 1–2 years ago, and 29 (51%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋
Smaller funds dominant — 12% AUM from top-100
12% from top-100 AUM funds
16 of 53 holders rank in the top 100 by AUM, but together hold only 12% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
5.2
out of 10
Moderate Exit Risk
Exit risk score 5.2/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.