Based on 22 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added NVNIW 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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Below peak — only 69% of 3.0Y high
69% of all-time peak
Only 22 funds hold NVNIW today versus a peak of 32 funds at 2023 Q4 — just 69% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
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Outflows — 15% fewer funds vs a year ago
fund count last 6Q
4 fewer hedge funds hold NVNIW compared to a year ago (-15% 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 — 57% buying
4 buying3 selling
Last quarter: 4 funds bought or added vs 3 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 — ~3 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 1 → 3 → 2 → 3. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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68% of holders stayed for 2+ years
■ 68% conviction (2yr+)
■ 18% medium
■ 14% new
15 out of 22 hedge funds have held NVNIW 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 +0%, value -35%
Last quarter: funds added +0% more shares while total portfolio value only changed -35%. 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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Steady discovery — ~3 new funds/quarter
3 → 1 → 3 → 2 → 3 new funds/Q
New funds entering each quarter: 1 → 3 → 2 → 3. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Veteran-anchored — 73% veterans vs 23% newcomers
■ 73% veterans
■ 5% 1-2yr
■ 23% new
Entry-cohort mix of 22 holders: 16 (73%) are 2+ year veterans, 1 entered 1–2 years ago, and 5 (23%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Smaller funds dominant — 18% AUM from top-100
18% from top-100 AUM funds
2 of 21 holders rank in the top 100 by AUM, but together hold only 18% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 1.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.