Based on 25 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added NRT 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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High ownership — 74% of 3.0Y peak
74% of all-time peak
25 funds currently hold this stock — 74% of the 3.0-year high of 34 funds (reached 2023 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 4% fewer funds vs a year ago
fund count last 6Q
1 fewer hedge funds hold NRT compared to a year ago (-4% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟢
More buyers than sellers — 67% buying
14 buying7 selling
Last quarter: 14 funds were net buyers (7 opened a brand new position + 7 added to an existing one). Only 7 were sellers (5 trimmed + 2 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+6 vs last Q)
new funds entering per quarter
Funds opening a new NRT position: 3 → 4 → 1 → 7. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒
72% of holders stayed for 2+ years
■ 72% conviction (2yr+)
■ 12% medium
■ 16% new
18 out of 25 hedge funds have held NRT 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.
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Value +30% but shares only +8% — price-driven
Last quarter: the total dollar value of institutional holdings rose +30%, but actual share count only changed +8%. 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.
➡️
Steady discovery — ~7 new funds/quarter
2 → 3 → 4 → 1 → 7 new funds/Q
New funds entering each quarter: 3 → 4 → 1 → 7. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 76% of holders stayed 2+ years
■ 76% veterans
■ 8% 1-2yr
■ 16% new
Of 25 current holders: 19 (76%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
✅
Strong quality — 29% AUM from major funds
29% from top-100 AUM funds
6 of 25 holders rank in the top 100 by AUM, accounting for 29% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 2.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.