Based on 25 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 NPWR/WS 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 — 71% of 3.0Y peak
71% of all-time peak
25 funds currently hold this stock — 71% of the 3.0-year high of 35 funds (reached 2023 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 4% fewer funds vs a year ago
fund count last 6Q
1 fewer hedge funds hold NPWR/WS compared to a year ago (-4% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More buyers than sellers — 67% buying
6 buying3 selling
Last quarter: 6 funds were net buyers (2 opened a brand new position + 4 added to an existing one). Only 3 were sellers (2 trimmed + 1 sold completely). A clear majority buying is a strong confirmation signal.
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Steady new buyers — ~2 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 3 → 2 → 2 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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56% of holders stayed for 2+ years
■ 56% conviction (2yr+)
■ 32% medium
■ 12% new
14 out of 25 hedge funds have held NPWR/WS 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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Buying through price weakness — shares +1%, value -39%
Last quarter: funds added +1% more shares while total portfolio value only changed -39%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Peak discovery — momentum slowing
4 → 3 → 2 → 2 → 2 new funds/Q
New funds entering each quarter: 3 → 2 → 2 → 2. NPWR/WS is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
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Veteran-anchored — 64% veterans vs 24% newcomers
■ 64% veterans
■ 12% 1-2yr
■ 24% new
Entry-cohort mix of 25 holders: 16 (64%) are 2+ year veterans, 3 entered 1–2 years ago, and 6 (24%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Smaller funds dominant — 0% AUM from top-100
0% from top-100 AUM funds
4 of 24 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.
Exit risk score 1.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.