Based on 30 hedge funds · latest filing: 2026 Q2 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their NRT 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 — 91% of 3.0Y peak
91% of all-time peak
30 funds currently hold this stock — 91% of the 3.0-year high of 33 funds (reached 2023 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🚀
Fast accumulation — +25% more funds vs a year ago
fund count last 6Q
+6 new funds entered over the past year (+25% 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.
🟡
Slight buying edge — 54% buying
14 buying12 selling
Last quarter: 14 funds bought or added vs 12 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.
➡️
Steady new buyers — ~6 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 1 → 7 → 9 → 6. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
53% of holders stayed for 2+ years
■ 53% conviction (2yr+)
■ 13% medium
■ 33% new
16 out of 30 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.
💎
Buying through price weakness — shares -22%, value -41%
Last quarter: funds added -22% more shares while total portfolio value only changed -41%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~6 new funds/quarter
5 → 1 → 7 → 9 → 6 new funds/Q
New funds entering each quarter: 1 → 7 → 9 → 6. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 67% veterans vs 30% newcomers
■ 67% veterans
■ 3% 1-2yr
■ 30% new
Entry-cohort mix of 30 holders: 20 (67%) are 2+ year veterans, 1 entered 1–2 years ago, and 9 (30%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 28% AUM from major funds
28% from top-100 AUM funds
7 of 29 holders rank in the top 100 by AUM, accounting for 28% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
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.