Based on 116 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 NXDT 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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At the ownership peak (100% of max)
100% of all-time peak
116 hedge funds hold NXDT 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.
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Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding NXDT is almost the same as a year ago (+3 funds, +3% change). No significant rush to buy or sell — institutional backing is holding steady.
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Slight buying edge — 53% buying
69 buying61 selling
Last quarter: 69 funds bought or added vs 61 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.
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Steady new buyers — ~19 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 20 → 14 → 16 → 19. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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60% of holders stayed for 2+ years
■ 60% conviction (2yr+)
■ 23% medium
■ 16% new
70 out of 116 hedge funds have held NXDT 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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Steady discovery — ~19 new funds/quarter
14 → 20 → 14 → 16 → 19 new funds/Q
New funds entering each quarter: 20 → 14 → 16 → 19. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Deep conviction — 62% of holders stayed 2+ years
■ 62% veterans
■ 15% 1-2yr
■ 22% new
Of 117 current holders: 73 (62%) 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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Strong quality — 32% AUM from major funds
32% from top-100 AUM funds
22 of 116 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 3.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.