Based on 10 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added NCPB 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
10 hedge funds hold NCPB right now — the highest count in 2.0 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 — +43% more funds vs a year ago
fund count last 6Q
+3 new funds entered over the past year (+43% 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.
🟢
More buyers than sellers — 80% buying
8 buying2 selling
Last quarter: 8 funds were net buyers (3 opened a brand new position + 5 added to an existing one). Only 2 were sellers (2 trimmed + 0 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~3 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 3 → 1 → 3. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 50% entered in last year
■ 0% conviction (2yr+)
■ 50% medium
■ 50% new
Only 0 funds (0%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
📊
Peak discovery — momentum slowing
1 → 2 → 3 → 1 → 3 new funds/Q
New funds entering each quarter: 2 → 3 → 1 → 3. NCPB is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
📊
Mixed cohorts — 0% veterans, 40% new entrants
■ 0% veterans
■ 60% 1-2yr
■ 40% new
Of 10 current holders: 0 (0%) held 2+ years, 6 held 1–2 years, 4 (40%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 30% AUM from major funds
30% from top-100 AUM funds
3 of 10 holders rank in the top 100 by AUM, accounting for 30% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.6
out of 10
Moderate Exit Risk
Exit risk score 4.6/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.