Based on 8 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added NRGU 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
8 hedge funds hold NRGU right now — the highest count in 1.2 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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Fast accumulation — +700% more funds vs a year ago
fund count last 5Q
+7 new funds entered over the past year (+700% 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. The peak was reached in just 4 quarters from the low — a sharp move.
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More buyers than sellers — 88% buying
7 buying1 selling
Last quarter: 7 funds were net buyers (7 opened a brand new position + 0 added to an existing one). Only 1 were sellers (1 trimmed + 0 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+7 vs last Q)
new funds entering per quarter
Funds opening a new NRGU position: 2 → 1 → 0 → 7. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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Mostly new holders — 88% entered in last year
■ 0% conviction (2yr+)
■ 12% medium
■ 88% 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.
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Value +484% but shares only +146% — price-driven
Last quarter: the total dollar value of institutional holdings rose +484%, but actual share count only changed +146%. 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.
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Steady discovery — ~7 new funds/quarter
2 → 1 → 0 → 7 new funds/Q
New funds entering each quarter: 2 → 1 → 0 → 7. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Early stage — 100% of holders entered in last year
■ 0% veterans
■ 0% 1-2yr
■ 100% new
Of 8 current holders: 8 (100%) entered in the past year, only 0 (0%) 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.
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Elite ownership — 75% AUM from top-100 funds
75% from top-100 AUM funds
4 of 8 holders are among the 100 largest funds by AUM, controlling 75% of total institutional value in NRGU. 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 7.2/10 — multiple crowding signals converge. Institutional ownership is at 100% of its all-time high — near peak crowding. Crowded trades can unwind fast — a single catalyst can trigger a cascade.