Based on 112 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added NPCE 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
112 hedge funds hold NPCE 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 — +26% more funds vs a year ago
fund count last 6Q
+23 new funds entered over the past year (+26% 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.
🟡
Slight buying edge — 57% buying
65 buying50 selling
Last quarter: 65 funds bought or added vs 50 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.
➡️
Steady new buyers — ~26 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 24 → 9 → 25 → 26. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 28% long-term, 33% new
■ 28% conviction (2yr+)
■ 39% medium
■ 33% new
Of the 112 current holders: 31 (28%) held >2 years, 44 held 1–2 years, and 37 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 +0%, value -16%
Last quarter: funds added +0% more shares while total portfolio value only changed -16%. 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
35 → 24 → 9 → 25 → 26 new funds/Q
New funds entering each quarter: 24 → 9 → 25 → 26. 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.
📊
Mixed cohorts — 35% veterans, 47% new entrants
■ 35% veterans
■ 18% 1-2yr
■ 47% new
Of 113 current holders: 40 (35%) held 2+ years, 20 held 1–2 years, 53 (47%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 24% AUM from major funds
24% from top-100 AUM funds
32 of 112 holders rank in the top 100 by AUM, accounting for 24% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.2
out of 10
Moderate Exit Risk
Exit risk score 4.2/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.