Based on 24 hedge funds · latest filing: 2026 Q2 · updated quarterly
📉
Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their NVX 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 — 73% of 3.0Y peak
73% of all-time peak
24 funds currently hold this stock — 73% of the 3.0-year high of 33 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +20% more funds vs a year ago
fund count last 6Q
+4 new funds entered over the past year (+20% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🔴
Heavy selling pressure — only 21% buying
6 buying23 selling
Last quarter: 23 funds sold vs only 6 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
⚠️
Fewer new buyers each quarter (-8 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 8 → 15 → 11 → 3. 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.
📌
Mixed — 33% long-term, 33% new
■ 33% conviction (2yr+)
■ 33% medium
■ 33% new
Of the 24 current holders: 8 (33%) held >2 years, 8 held 1–2 years, and 8 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.
💎
Buying through price weakness — shares -36%, value -58%
Last quarter: funds added -36% more shares while total portfolio value only changed -58%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📊
Peak discovery — momentum slowing
8 → 8 → 15 → 11 → 3 new funds/Q
New funds entering each quarter: 8 → 15 → 11 → 3. NVX 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 — 54% veterans vs 42% newcomers
■ 54% veterans
■ 4% 1-2yr
■ 42% new
Entry-cohort mix of 26 holders: 14 (54%) are 2+ year veterans, 1 entered 1–2 years ago, and 11 (42%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 47% AUM from top-100 funds
47% from top-100 AUM funds
10 of 24 holders are among the 100 largest funds by AUM, controlling 47% of total institutional value in NVX. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.1
out of 10
Moderate Exit Risk
Exit risk score 4.1/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.