Based on 118 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds added NXTG 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
118 hedge funds hold NXTG 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 — +6% more funds vs a year ago
fund count last 6Q
+7 new funds entered over the past year (+6% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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More sellers than buyers — 49% buying
48 buying50 selling
Last quarter: 50 funds reduced or exited vs 48 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
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Steady new buyers — ~10 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 7 → 12 → 10 → 10. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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70% of holders stayed for 2+ years
■ 70% conviction (2yr+)
■ 18% medium
■ 12% new
83 out of 118 hedge funds have held NXTG 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 — ~10 new funds/quarter
19 → 7 → 12 → 10 → 10 new funds/Q
New funds entering each quarter: 7 → 12 → 10 → 10. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Deep conviction — 74% of holders stayed 2+ years
■ 74% veterans
■ 7% 1-2yr
■ 19% new
Of 118 current holders: 87 (74%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
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Elite ownership — 47% AUM from top-100 funds
47% from top-100 AUM funds
17 of 118 holders are among the 100 largest funds by AUM, controlling 47% of total institutional value in NXTG. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 3.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.