Who owns NCLO
Which tracked institutional funds hold NCLO, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See NCLO company fundamentals →
Ownership as of the 2026-Q2 13F filings (latest filed 2026-08-14). 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
4 tracked funds added or opened NCLO while 4 trimmed or exited it between 2026-Q1 and 2026-Q2 — 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
NCLO’s largest tracked holder by dollar value, Diversified Portfolios, Inc., sizes it at 2.1% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 2.1pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in NCLO 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 2026-Q1 and 2026-Q2, across 14 tracked filers holding NCLO, 10 increased or opened the position and 6 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
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 NCLO between the 2026-Q1 and 2026-Q2 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
- Kilter Group LLC$3M
Full exits 4
- GOLDMAN SACHS GROUP INC$3M
- JANE STREET GROUP, LLC$2M
- GC Wealth Management RIA, LLC$748K
- Sunbelt Securities, Inc.$512K
Largest adds
- Diversified Portfolios, Inc.$7M
- Arax Advisory Partners$3M
- ROYAL BANK OF CANADA$272K
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 |
|---|---|---|---|---|
| Diversified Portfolios, Inc. added | 1,174,514 | $29M | 29.0% | 2026-Q2 |
| Arax Advisory Partners added | 473,007 | $12M | 11.7% | 2026-Q2 |
| Kilter Group LLC new | 139,201 | $3M | 3.4% | 2026-Q2 |
| ROYAL BANK OF CANADA added | 22,680 | $569K | 0.6% | 2026-Q2 |
| CHANNEL WEALTH LLC | 20,700 | $519K | 0.5% | 2026-Q2 |
| Mutual Advisors, LLC new | 18,539 | $465K | 0.5% | 2026-Q2 |
| Crescent Grove Advisors, LLC new | 15,973 | $401K | 0.4% | 2026-Q2 |
| FLAGSTAR SECURITIES, INC added | 15,489 | $388K | 0.4% | 2026-Q2 |
| Sanctuary Advisors, LLC added | 14,924 | $374K | 0.4% | 2026-Q2 |
| Trajan Wealth LLC trimmed | 10,519 | $264K | 0.3% | 2026-Q2 |
| Lionsbridge Wealth Management LLC trimmed | 10,006 | $251K | 0.2% | 2026-Q2 |
| VICTORY FINANCIAL GROUP, LLC new | 8,976 | $225K | 0.2% | 2026-Q2 |
| HARBOUR INVESTMENTS, INC. | 7,098 | $178K | 0.2% | 2026-Q2 |
| Integrated Wealth Concepts LLC new | 4,465 | $112K | 0.1% | 2026-Q2 |
| GOLDMAN SACHS GROUP INC new | 128,820 | $3M | 3.2% | 2026-Q1 stale (1 quarter behind) |
| JANE STREET GROUP, LLC added | 60,250 | $2M | 1.5% | 2026-Q1 stale (1 quarter behind) |
| GC Wealth Management RIA, LLC | 30,000 | $748K | 0.7% | 2026-Q1 stale (1 quarter behind) |
| Sunbelt Securities, Inc. added | 20,542 | $512K | 0.5% | 2026-Q1 stale (1 quarter behind) |
| CORRADO ADVISORS, LLC added | 79,182 | $2M | 2.0% | 2025-Q4 stale (2 quarters behind) |
| Thompson David Blair new | 57,888 | $1M | 1.4% | 2025-Q4 stale (2 quarters behind) |
| Closed-End Fund Advisors, Inc. new | 8,705 | $218K | 0.2% | 2025-Q4 stale (2 quarters behind) |
| Steward Partners Investment Advisory, LLC new | 180 | $5K | 0.0% | 2025-Q4 stale (2 quarters behind) |
| NATIXIS ADVISORS, LLC added | 93,313 | $2M | 2.3% | 2025-Q3 stale (3 quarters behind) |
| UBS Group AG trimmed | 432 | $11K | 0.0% | 2025-Q3 stale (3 quarters behind) |
| BARCLAYS PLC | 800,000 | $20M | 19.8% | 2025-Q2 stale (4 quarters behind) |
| BNP PARIBAS | 400,000 | $10M | 9.9% | 2025-Q2 stale (4 quarters behind) |
| BANK OF NOVA SCOTIA trimmed | 347,901 | $9M | 8.6% | 2025-Q2 stale (4 quarters behind) |
| Cambridge Investment Research Advisors, Inc. added | 56,753 | $1M | 1.4% | 2025-Q2 stale (4 quarters behind) |
| CITADEL ADVISORS LLC new | 16,552 | $416K | 0.4% | 2025-Q2 stale (4 quarters behind) |
| HRT FINANCIAL LP new | 9,266 | $232K | 0.2% | 2025-Q2 stale (4 quarters behind) |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | 0 | — | 0.0% | 2025-Q2 stale (4 quarters behind) |
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.