Based on 40 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added NVBW 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
40 hedge funds hold NVBW right now — the highest count in 3.0 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.
🚀
Fast accumulation — +21% more funds vs a year ago
fund count last 6Q
+7 new funds entered over the past year (+21% 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.
🟢
More buyers than sellers — 72% buying
31 buying12 selling
Last quarter: 31 funds were net buyers (13 opened a brand new position + 18 added to an existing one). Only 12 were sellers (6 trimmed + 6 sold completely). A clear majority buying is a strong confirmation signal.
📈
More new buyers each quarter (+10 vs last Q)
new funds entering per quarter
Funds opening a new NVBW position: 3 → 2 → 3 → 13. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
📌
Mixed — 32% long-term, 35% new
■ 32% conviction (2yr+)
■ 32% medium
■ 35% new
Of the 40 current holders: 13 (32%) held >2 years, 13 held 1–2 years, and 14 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
📈
Growing discovery — still being found
17 → 3 → 2 → 3 → 13 new funds/Q
New funds entering each quarter: 3 → 2 → 3 → 13. A growing number of institutions are discovering NVBW each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🌱
Early stage — 57% of holders entered in last year
■ 30% veterans
■ 12% 1-2yr
■ 57% new
Of 40 current holders: 23 (57%) entered in the past year, only 12 (30%) 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.
📋
Smaller funds dominant — 7% AUM from top-100
7% from top-100 AUM funds
2 of 40 holders rank in the top 100 by AUM, but together hold only 7% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
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.