Based on 65 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added NNBR 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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High ownership — 86% of 3.0Y peak
86% of all-time peak
65 funds currently hold this stock — 86% of the 3.0-year high of 76 funds (reached 2024 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 14% fewer funds vs a year ago
fund count last 6Q
11 fewer hedge funds hold NNBR compared to a year ago (-14% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Slight buying edge — 52% buying
29 buying27 selling
Last quarter: 29 funds bought or added vs 27 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.
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Steady new buyers — ~13 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 20 → 8 → 11 → 13. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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69% of holders stayed for 2+ years
■ 69% conviction (2yr+)
■ 9% medium
■ 22% new
45 out of 65 hedge funds have held NNBR 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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Steady discovery — ~13 new funds/quarter
8 → 20 → 8 → 11 → 13 new funds/Q
New funds entering each quarter: 20 → 8 → 11 → 13. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Veteran-anchored — 76% veterans vs 20% newcomers
■ 76% veterans
■ 5% 1-2yr
■ 20% new
Entry-cohort mix of 66 holders: 50 (76%) are 2+ year veterans, 3 entered 1–2 years ago, and 13 (20%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Smaller funds dominant — 12% AUM from top-100
12% from top-100 AUM funds
18 of 65 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.
Exit risk score 2.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.