Based on 240 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added NSSC 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 — 92% of 3.0Y peak
92% of all-time peak
240 funds currently hold this stock — 92% of the 3.0-year high of 261 funds (reached 2024 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding NSSC is almost the same as a year ago (+2 funds, +1% change). No significant rush to buy or sell — institutional backing is holding steady.
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More sellers than buyers — 49% buying
112 buying117 selling
Last quarter: 117 funds reduced or exited vs 112 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
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Fewer new buyers each quarter (-14 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 37 → 32 → 50 → 36. 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.
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55% of holders stayed for 2+ years
■ 55% conviction (2yr+)
■ 29% medium
■ 16% new
131 out of 240 hedge funds have held NSSC 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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Growing discovery — still being found
35 → 37 → 32 → 50 → 36 new funds/Q
New funds entering each quarter: 37 → 32 → 50 → 36. A growing number of institutions are discovering NSSC each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Deep conviction — 66% of holders stayed 2+ years
■ 66% veterans
■ 16% 1-2yr
■ 18% new
Of 242 current holders: 159 (66%) 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.
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Elite ownership — 42% AUM from top-100 funds
42% from top-100 AUM funds
36 of 240 holders are among the 100 largest funds by AUM, controlling 42% of total institutional value in NSSC. 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 3.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.