Based on 304 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds added NTLA 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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At the ownership peak (100% of max)
100% of all-time peak
304 hedge funds hold NTLA 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.
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Steady growth — +5% more funds vs a year ago
fund count last 6Q
+14 new funds entered over the past year (+5% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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More buyers than sellers — 63% buying
195 buying113 selling
Last quarter: 195 funds were net buyers (63 opened a brand new position + 132 added to an existing one). Only 113 were sellers (62 trimmed + 51 sold completely). A clear majority buying is a strong confirmation signal.
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Fewer new buyers each quarter (-6 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 40 → 49 → 69 → 63. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
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55% of holders stayed for 2+ years
■ 55% conviction (2yr+)
■ 23% medium
■ 22% new
168 out of 304 hedge funds have held NTLA 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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Value +51% but shares only +7% — price-driven
Last quarter: the total dollar value of institutional holdings rose +51%, but actual share count only changed +7%. 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.
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Growing discovery — still being found
50 → 40 → 49 → 69 → 63 new funds/Q
New funds entering each quarter: 40 → 49 → 69 → 63. A growing number of institutions are discovering NTLA each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 64% veterans vs 24% newcomers
■ 64% veterans
■ 13% 1-2yr
■ 24% new
Entry-cohort mix of 317 holders: 202 (64%) are 2+ year veterans, 40 entered 1–2 years ago, and 75 (24%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Strong quality — 36% AUM from major funds
36% from top-100 AUM funds
49 of 297 holders rank in the top 100 by AUM, accounting for 36% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.