Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Nextdecade Corp (NEXT)

211 + Investors. Track Smart Money conviction in NEXT. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +26
Streak
1Q ▲
Buyers last Q
65%

Smart Money Signals — NEXT

Based on 211 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds added NEXT 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
211 hedge funds hold NEXT 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.
📶

Steady growth — +17% more funds vs a year ago

fund count last 6Q
+31 new funds entered over the past year (+17% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟢

More buyers than sellers — 65% buying

150 buying81 selling
Last quarter: 150 funds were net buyers (60 opened a brand new position + 90 added to an existing one). Only 81 were sellers (47 trimmed + 34 sold completely). A clear majority buying is a strong confirmation signal.
📈

More new buyers each quarter (+23 vs last Q)

new funds entering per quarter
Funds opening a new NEXT position: 20 → 37 → 37 → 60. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒

41% of holders stayed for 2+ years

■ 41% conviction (2yr+) ■ 26% medium ■ 34% new
86 out of 211 hedge funds have held NEXT 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.
💰

Value +53% but shares only +10% — price-driven

Value
+53%
Shares
+10%
Last quarter: the total dollar value of institutional holdings rose +53%, but actual share count only changed +10%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
🚀

Acceleration phase — new buyers rushing in

43 → 20 → 37 → 37 → 60 new funds/Q
New funds entering each quarter: 20 → 37 → 37 → 60. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
🏛️

Veteran-anchored — 49% veterans vs 35% newcomers

■ 49% veterans ■ 16% 1-2yr ■ 35% new
Entry-cohort mix of 233 holders: 115 (49%) are 2+ year veterans, 37 entered 1–2 years ago, and 81 (35%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋

Smaller funds dominant — 18% AUM from top-100

18% from top-100 AUM funds
37 of 204 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.
4.0
out of 10
Moderate Exit Risk
Exit risk score 4.0/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — NEXT

In 2026 Q1, 150 hedge funds were net buyers of NEXT (60 opened a new position, 90 added to an existing one), while 81 reduced or exited (47 trimmed, 34 sold completely) — a 65% buyer ratio, indicating clear institutional accumulation. Net fund flow last quarter: +26 funds (more new holders than closures). Total institutional holders: 211.

Hedge Fund Ownership: NEXT

How many hedge funds hold NEXT — quarterly history vs. share price
Quarterly hedge fund ownership of NEXT vs. share price

Market Analysis: NEXT

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: NEXT

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Nextdecade Corp (NEXT) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much NEXT has moved relative to its sector benchmark (XLE) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 76d ago
NEXT
+1.2%
XLE
+61761.1%

NEXT outperformed XLE by -61759.9% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 31d ago
NEXT
-15.0%
XLE
+50513.6%

Since the filing became public, NEXT outperformed XLE by -50528.6% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

21 top-rated funds 3 high-conviction
Consensus
5.8
/ 10
breadth
×
Elite
2.9
/ 10
conviction
Hedge Fund Positioning: NEXT
211 + Investors

Track Smart Money conviction in NEXT. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 211 185 14.05%
13F Shares 146M 132M 10.23%
Total Value $1.10B $719M 53.15%
New Positions 60 37 +23
Increased Positions 84 74 +10
Closed Positions 34 40 -6
Reduced Positions 41 48 -7
Total Calls 17 16 6.25%
Total Puts 12 7 71.43%
PUT/CALL Ratio 0.71 0.44 Neutral

Statistics: NEXT

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Valuation Measures Data as of: --

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PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
Revenue (ttm) --
Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
Levered Free Cash Flow (ttm) --

Institutional Holders (2026 Q1)

211 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in NEXT. Verified SEC 13F-HR filings.

QUARTER:
Top 25 NEXT holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Valinor Management, L.P. 100.00% 4,735,065 $32.2M
2 Man Investment Partners (US) LP 84.28% 9,274,894 $71.0M
3 Bardin Hill Management Partners LP 78.44% 9,274,894 $63.0M
4 Sl Advisors, LLC 12.80% 986,992 $7.6M
5 Ripple Effect Asset Management LP 2.81% 2,490,500 $19.1M
6 Freshford Capital Management, LLC 2.11% 551,100 $4.2M
7 Ripple Effect Asset Management LP 1.51% 1,339,723 $10.3M
8 Wolf Hill Capital Management, LP 1.31% 1,760,375 $13.5M
9 ELCO Management Co., LLC 0.84% 228,336 $1.7M
10 Catalyst Capital Advisors LLC 0.74% 5,216,592 $40.0M
11 Mubadala Investment Co PJSC 0.53% 14,206,376 $108.8M
12 Yaupon Capital Management LP 0.49% 2,062,800 $15.8M
13 Bridger Management, LLC 0.41% 67,837 $520K
14 Hara Capital LLC 0.40% 105,730 $810K
15 Viking Fund Management LLC 0.35% 450,000 $3.4M
16 Clough Capital Partners L P 0.26% 352,759 $2.7M
17 Central Asset Investments & Management Holdings (HK) Ltd 0.23% 33,000 $253K
18 Scientech Research LLC 0.22% 34,129 $261K
19 Caitong International Asset Management Co., Ltd 0.20% 144,026 $1.1M
20 Sourcerock Group LLC 0.18% 591,171 $4.5M
21 M.E. Allison & CO., INC. 0.15% 28,700 $220K
22 Limestone Investment Advisors LP 0.14% 235,634 $1.8M
23 VARCOV Co. 0.13% 46,852 $359K
24 Optimize Financial Inc 0.12% 32,267 $247K
25 Aventail Capital Group, LP 0.10% 276,625 $2.1M
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Nextdecade Corp (NEXT)

What does the Smart Money Trend signal show for NEXT?

Buying streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds added NEXT 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.

What is the institutional breadth score for NEXT?

More buyers than sellers — 65% buying: Last quarter: 150 funds were net buyers (60 opened a brand new position + 90 added to an existing one). Only 81 were sellers (47 trimmed + 34 sold completely). A clear majority buying is a strong confirmation signal.

What is the fund quality score for NEXT holders?

Smaller funds dominant — 18% AUM from top-100: 37 of 204 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.

How long have hedge funds held NEXT?

41% of holders stayed for 2+ years: 86 out of 211 hedge funds have held NEXT 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.

Is it too late to buy Nextdecade Corp (NEXT) following the 2026 Q1 hedge fund 13F filings?

As of today, NEXT has moved -15.0% since the 2026 Q1 13F filing date (May 15, 2026), compared to +50513.6% for the XLE sector ETF — an outperformance of -50528.6%. Since the quarter end (March 31, 2026), NEXT has gained +1.2% vs +61761.1% for XLE. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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