Based on 25 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 NTWK 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 — 76% of 3.0Y peak
76% of all-time peak
25 funds currently hold this stock — 76% of the 3.0-year high of 33 funds (reached 2026 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +14% more funds vs a year ago
fund count last 6Q
+3 new funds entered over the past year (+14% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟠
More sellers than buyers — 40% buying
12 buying18 selling
Last quarter: 18 funds reduced or exited vs 12 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.
⚠️
Fewer new buyers each quarter (-7 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 9 → 4 → 9 → 2. 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.
🔒
56% of holders stayed for 2+ years
■ 56% conviction (2yr+)
■ 24% medium
■ 20% new
14 out of 25 hedge funds have held NTWK 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.
💰
Price up while funds trimmed (+16% value, -14% shares)
Last quarter: total value of institutional NTWK holdings rose +16% even though funds reduced share count by 14%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
📊
Peak discovery — momentum slowing
2 → 9 → 4 → 9 → 2 new funds/Q
New funds entering each quarter: 9 → 4 → 9 → 2. NTWK is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️
Veteran-anchored — 68% veterans vs 28% newcomers
■ 68% veterans
■ 4% 1-2yr
■ 28% new
Entry-cohort mix of 25 holders: 17 (68%) are 2+ year veterans, 1 entered 1–2 years ago, and 7 (28%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 32% AUM from major funds
32% from top-100 AUM funds
12 of 25 holders rank in the top 100 by AUM, accounting for 32% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.