Who owns NCDL (NCDL)
Which tracked institutional funds hold NCDL, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See NCDL company fundamentals →
Ownership as of the 2026-Q1 13F filings. 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
13 tracked funds added or opened NCDL while 17 trimmed or exited it between 2025-Q4 and 2026-Q1 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
NCDL’s largest tracked holder by dollar value, Blue Owl Capital Holdings LP, sizes it at 7.3% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 7.3pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in NCDL divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2025-Q4 and 2026-Q1, across 66 tracked filers holding NCDL, 34 increased or opened the position and 46 reduced or closed it; over the same quarter, open-market insider Form 4s were net purchases.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in NCDL between the 2025-Q4 and 2026-Q1 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 1
- JANE STREET GROUP, LLC$1M
Full exits 3
- TWO SIGMA ADVISERS, LP$5M
- Merit Financial Group, LLC$611K
- SUSQUEHANNA INTERNATIONAL GROUP, LLP$521K
Largest adds
- BROWN BROTHERS HARRIMAN & CO$7M
- ARES MANAGEMENT LLC$2M
- TWO SIGMA INVESTMENTS, LP$2M
- Invesco Ltd.$1M
- Diameter Capital Partners LP$1M
- MILLENNIUM MANAGEMENT LLC$908K
Largest trims
- Closed-End Fund Advisors, Inc.$6M
- VAN ECK ASSOCIATES CORP$5M
- Corient Private Wealth LLC$3M
- Callodine Capital Management, LP$2M
- MORGAN STANLEY$1M
- Blue Owl Capital Holdings LP$1M
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| Blue Owl Capital Holdings LP | 2,143,626 | $27M | 12.5% | 2026-Q1 |
| Corient Private Wealth LLC trimmed | 1,732,619 | $22M | 10.1% | 2026-Q1 |
| Diameter Capital Partners LP added | 1,379,361 | $18M | 8.1% | 2026-Q1 |
| BROWN BROTHERS HARRIMAN & CO added | 921,978 | $12M | 5.4% | 2026-Q1 |
| Invesco Ltd. added | 893,537 | $11M | 5.2% | 2026-Q1 |
| UBS Group AG trimmed | 682,133 | $9M | 4.0% | 2026-Q1 |
| TWO SIGMA INVESTMENTS, LP added | 630,747 | $8M | 3.7% | 2026-Q1 |
| Opal Wealth Advisors, LLC added | 625,215 | $8M | 3.7% | 2026-Q1 |
| ARES MANAGEMENT LLC added | 574,838 | $7M | 3.4% | 2026-Q1 |
| VAN ECK ASSOCIATES CORP trimmed | 513,617 | $7M | 3.0% | 2026-Q1 |
| Callodine Capital Management, LP trimmed | 450,000 | $6M | 2.6% | 2026-Q1 |
| Hennion & Walsh Asset Management, Inc. trimmed | 430,034 | $5M | 2.5% | 2026-Q1 |
| MORGAN STANLEY trimmed | 369,431 | $5M | 2.2% | 2026-Q1 |
| STIFEL FINANCIAL CORP trimmed | 335,747 | $4M | 2.0% | 2026-Q1 |
| WELLS FARGO & COMPANY/MN trimmed | 311,270 | $4M | 1.8% | 2026-Q1 |
| Nuveen, LLC added | 226,765 | $3M | 1.3% | 2026-Q1 |
| Bulldog Investors, LLP added | 224,822 | $3M | 1.3% | 2026-Q1 |
| AMERIPRISE FINANCIAL INC added | 207,545 | $3M | 1.2% | 2026-Q1 |
| Trexquant Investment LP added | 202,411 | $3M | 1.2% | 2026-Q1 |
| GraniteShares Advisors LLC trimmed | 175,377 | $2M | 1.0% | 2026-Q1 |
| BI Asset Management Fondsmaeglerselskab A/S added | 155,522 | $2M | 0.9% | 2026-Q1 |
| RENAISSANCE TECHNOLOGIES LLC added | 152,024 | $2M | 0.9% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ added | 147,909 | $2M | 0.9% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC added | 125,622 | $2M | 0.7% | 2026-Q1 |
| Aprio Wealth Management, LLC added | 116,409 | $1M | 0.7% | 2026-Q1 |
| MILLENNIUM MANAGEMENT LLC added | 112,037 | $1M | 0.7% | 2026-Q1 |
| Vise Technologies, Inc. | 95,252 | $1M | 0.6% | 2026-Q1 |
| JANE STREET GROUP, LLC added | 97,707 | $1M | 0.6% | 2026-Q1 |
| Closed-End Fund Advisors, Inc. trimmed | 92,957 | $1M | 0.5% | 2026-Q1 |
| Adams Asset Advisors, LLC added | 91,021 | $1M | 0.5% | 2026-Q1 |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC trimmed | 87,341 | $1M | 0.5% | 2026-Q1 |
| NewEdge Wealth, LLC added | 89,776 | $1M | 0.5% | 2026-Q1 |
| Almitas Capital LLC | 70,160 | $892K | 0.4% | 2026-Q1 |
| NEUBERGER BERMAN GROUP LLC trimmed | 69,785 | $888K | 0.4% | 2026-Q1 |
| CONFLUENCE INVESTMENT MANAGEMENT LLC trimmed | 68,743 | $874K | 0.4% | 2026-Q1 |
| COMMONWEALTH EQUITY SERVICES, LLC added | 59,077 | $751K | 0.3% | 2026-Q1 |
| Lido Advisors, LLC added | 53,788 | $705K | 0.3% | 2026-Q1 |
| Accurate Wealth Management, LLC added | 51,074 | $688K | 0.3% | 2026-Q1 |
| Cresset Asset Management, LLC added | 46,908 | $615K | 0.3% | 2026-Q1 |
| World Investment Advisors | 43,297 | $551K | 0.3% | 2026-Q1 |
| Procyon Advisors, LLC | 39,584 | $504K | 0.2% | 2026-Q1 |
| Hudson Value Partners, LLC | 37,720 | $480K | 0.2% | 2026-Q1 |
| Beacon Bridge Wealth Partners, LLC | 32,432 | $413K | 0.2% | 2026-Q1 |
| Virtus Investment Advisers, LLC added | 28,562 | $363K | 0.2% | 2026-Q1 |
| QTR Family Wealth, LLC trimmed | 25,324 | $355K | 0.2% | 2026-Q1 |
| NewGen Asset Management Ltd new | 27,900 | $355K | 0.2% | 2026-Q1 |
| NOTTINGHAM ADVISORS, INC. new | 24,195 | $308K | 0.1% | 2026-Q1 |
| Gotham Asset Management, LLC | 20,000 | $254K | 0.1% | 2026-Q1 |
| Brevan Howard Capital Management LP new | 19,224 | $245K | 0.1% | 2026-Q1 |
| GW HENSSLER & ASSOCIATES LTD trimmed | 18,324 | $233K | 0.1% | 2026-Q1 |
| Snowden Capital Advisors LLC added | 17,242 | $226K | 0.1% | 2026-Q1 |
| DUDLEY CAPITAL MANAGEMENT, LLC trimmed | 17,750 | $226K | 0.1% | 2026-Q1 |
| Virtu Financial LLC trimmed | 15,112 | $192K | 0.1% | 2026-Q1 |
| Cerity Partners LLC | 14,798 | $188K | 0.1% | 2026-Q1 |
| Prota Financial, LLC | 12,240 | $156K | 0.1% | 2026-Q1 |
| LPL Financial LLC trimmed | 12,119 | $154K | 0.1% | 2026-Q1 |
| TWO SIGMA ADVISERS, LP trimmed | 390,100 | $5M | 2.4% | 2025-Q4 stale |
| MARSHALL WACE, LLP added | 188,622 | $3M | 1.2% | 2025-Q3 stale |
| ACADIAN ASSET MANAGEMENT LLC added | 93,658 | $2M | 0.7% | 2025-Q2 stale |
| Tranquility Partners, LLC added | 84,333 | $1M | 0.6% | 2025-Q2 stale |
| BALYASNY ASSET MANAGEMENT L.P. added | 67,575 | $933K | 0.4% | 2025-Q3 stale |
| Magnetar Financial LLC added | 47,766 | $773K | 0.4% | 2025-Q2 stale |
| Qube Research & Technologies Ltd trimmed | 42,644 | $724K | 0.3% | 2025-Q1 stale |
| Merit Financial Group, LLC | 45,831 | $611K | 0.3% | 2025-Q4 stale |
| Verition Fund Management LLC new | 34,501 | $586K | 0.3% | 2025-Q1 stale |
| Y-Intercept (Hong Kong) Ltd added | 32,820 | $531K | 0.2% | 2025-Q2 stale |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP added | 39,027 | $521K | 0.2% | 2025-Q4 stale |
| Schonfeld Strategic Advisors LLC new | 29,582 | $502K | 0.2% | 2025-Q1 stale |
| MQS Management LLC trimmed | 36,045 | $481K | 0.2% | 2025-Q4 stale |
| GSA CAPITAL PARTNERS LLP trimmed | 25,798 | $438K | 0.2% | 2025-Q1 stale |
| ExodusPoint Capital Management, LP added | 30,682 | $423K | 0.2% | 2025-Q3 stale |
| Obermeyer Wealth Partners new | 29,500 | $407K | 0.2% | 2025-Q3 stale |
| HRT FINANCIAL LP trimmed | 27,467 | $379K | 0.2% | 2025-Q3 stale |
| VARCOV Co. new | 27,834 | $371K | 0.2% | 2025-Q4 stale |
| Quadrature Capital Ltd trimmed | 25,370 | $338K | 0.2% | 2025-Q4 stale |
| CITADEL ADVISORS LLC trimmed | 24,836 | $331K | 0.2% | 2025-Q4 stale |
| Whipplewood Advisors, LLC new | 22,937 | $306K | 0.1% | 2025-Q4 stale |
| SEI INVESTMENTS CO added | 18,678 | $302K | 0.1% | 2025-Q2 stale |
| DOVER ADVISORS, LLC added | 16,500 | $289K | 0.1% | 2025-Q1 stale |
| Quent Capital, LLC new | 20,000 | $267K | 0.1% | 2025-Q4 stale |
| Quent Long Short Global Small Cap Fund, LP new | 20,000 | $267K | 0.1% | 2025-Q4 stale |
| ELEVATION POINT WEALTH PARTNERS, LLC trimmed | 16,376 | $265K | 0.1% | 2025-Q2 stale |
| NOMURA HOLDINGS INC new | 19,562 | $261K | 0.1% | 2025-Q4 stale |
| Modera Wealth Management, LLC added | 18,843 | $251K | 0.1% | 2025-Q4 stale |
| Quantbot Technologies LP added | 17,472 | $233K | 0.1% | 2025-Q4 stale |
| XTX Topco Ltd trimmed | 14,166 | $229K | 0.1% | 2025-Q2 stale |
| Family Office Research LLC added | 16,332 | $225K | 0.1% | 2025-Q3 stale |
| Hurley Capital, LLC | 13,045 | $222K | 0.1% | 2025-Q1 stale |
| Entropy Technologies, LP added | 12,025 | $204K | 0.1% | 2025-Q1 stale |
| Aigen Investment Management, LP new | 10,663 | $181K | 0.1% | 2025-Q1 stale |
| Mutual Advisors, LLC new | 13,218 | $176K | 0.1% | 2025-Q4 stale |
| GRIMES & Co WEALTH MANAGEMENT, LLC new | 12,285 | $164K | 0.1% | 2025-Q4 stale |
| Catalina Capital Group, LLC trimmed | 10,040 | $163K | 0.1% | 2025-Q2 stale |
| VESTIA PERSONAL WEALTH ADVISORS | 10,986 | $152K | 0.1% | 2025-Q3 stale |
| Dynamic Technology Lab Private Ltd trimmed | 10,894 | $145K | 0.1% | 2025-Q4 stale |
| Atlatl Advisers LLC added | 10,851 | $145K | 0.1% | 2025-Q4 stale |
| BlackRock, Inc. trimmed | 8,311 | $141K | 0.1% | 2025-Q1 stale |
| OneAscent Wealth Management LLC | 10,183 | $141K | 0.1% | 2025-Q3 stale |
| RHUMBLINE ADVISERS new | 10,000 | $133K | 0.1% | 2025-Q4 stale |
| AlphaQuest LLC trimmed | 9,690 | $129K | 0.1% | 2025-Q4 stale |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.