Based on 8 hedge funds · latest filing: 2026 Q1 · updated quarterly
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No change last quarter
The number of hedge funds holding this stock didn't change last quarter. Neither a buying nor selling signal on its own — watch the next quarter for direction.
📊
High ownership — 89% of 3.0Y peak
89% of all-time peak
8 funds currently hold this stock — 89% of the 3.0-year high of 9 funds (reached 2023 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding NCRA is almost the same as a year ago (+0 funds, +0% change). No significant rush to buy or sell — institutional backing is holding steady.
🟡
Slight buying edge — 55% buying
6 buying5 selling
Last quarter: 6 funds bought or added vs 5 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 — ~4 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 1 → 4 → 2 → 4. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 38% long-term, 50% new
■ 38% conviction (2yr+)
■ 12% medium
■ 50% new
Of the 8 current holders: 3 (38%) held >2 years, 1 held 1–2 years, and 4 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
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Buying through price weakness — shares +67%, value -60%
Last quarter: funds added +67% more shares while total portfolio value only changed -60%. 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 — ~4 new funds/quarter
2 → 1 → 4 → 2 → 4 new funds/Q
New funds entering each quarter: 1 → 4 → 2 → 4. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Mixed cohorts — 38% veterans, 50% new entrants
■ 38% veterans
■ 12% 1-2yr
■ 50% new
Of 8 current holders: 3 (38%) held 2+ years, 1 held 1–2 years, 4 (50%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆
Elite ownership — 46% AUM from top-100 funds
46% from top-100 AUM funds
1 of 8 holders are among the 100 largest funds by AUM, controlling 46% of total institutional value in NCRA. 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 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.