Based on 27 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their NEGG positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 84% of 1.0Y peak
84% of all-time peak
27 funds currently hold this stock — 84% of the 1.0-year high of 32 funds (reached 2025 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🔴
Heavy selling pressure — only 32% buying
12 buying25 selling
Last quarter: 25 funds sold vs only 12 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
⚠️
Fewer new buyers each quarter (-13 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 16 → 20 → 7. 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.
🔄
Mostly new holders — 96% entered in last year
■ 0% conviction (2yr+)
■ 4% medium
■ 96% 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.
💰
Price up while funds trimmed (-21% value, -38% shares)
Last quarter: total value of institutional NEGG holdings rose -21% even though funds reduced share count by 38%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
📊
Peak discovery — momentum slowing
16 → 20 → 7 new funds/Q
New funds entering each quarter: 16 → 20 → 7. NEGG is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🌱
Early stage — 96% of holders entered in last year
■ 4% veterans
■ 0% 1-2yr
■ 96% new
Of 27 current holders: 26 (96%) entered in the past year, only 1 (4%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
✅
Strong quality — 25% AUM from major funds
25% from top-100 AUM funds
9 of 27 holders rank in the top 100 by AUM, accounting for 25% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 7.5/10 — multiple crowding signals converge. Institutional ownership is at 84% of its all-time high — near peak crowding. Selling pressure exceeds buying: only 32% of active funds buying. Crowded trades can unwind fast — a single catalyst can trigger a cascade.