The heavy net selling by multiple quant and asset managers contrasts with aggressive accumulation by other sophisticated funds. This divergence often precedes a catalyst; monitor NXT for upcoming earnings, strategic updates, or sector news that could resolve the conflict. The 13F lag means positions may already be outdated, but the pattern warrants caution.
Executive Summary
Institutional 13F cluster for NXT shows a sharp divergence: 11 buyers added $86.1M (led by Norges Bank, Citadel, Bridgewater, Amundi, Assenagon) while 12 sellers reduced holdings by $224.8M (led by Point72, D.E. Shaw, Fil, CPPIB, First Trust). Net institutional outflow of ~$138.7M suggests caution, but the quality of buying adds nuance.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$138.7M
▲ Buyers (11)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Norges Bank | ADD | +54.1% | $133.6M | $25.1M |
| Citadel | ADD | +78.7% | $88.3M | $26.5M |
| Bridgewater | ADD | +78.9% | $12.3M | $3.7M |
| Assenagon Asset Management | DOUBLED | +158.9% | $36.1M | $18.7M |
| Amundi | DOUBLED | +134.4% | $24.4M | $10.4M |
▼ Sellers (12)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Point72 | EXIT | -100% | $40.5M | -$40.5M |
| D.E. Shaw | TRIM | -60.4% | $95.8M | -$65.5M |
| Fil | EXIT | -100% | $67.0M | -$67.0M |
| Canada Pension Plan Investment | EXIT | -100% | $16.6M | -$16.6M |
| First Trust Advisors | TRIM | -36.3% | $39.4M | -$19.3M |
Key Facts
- 11 institutional buyers added $86.1M in NXT shares; 12 sellers reduced by $224.8M
- Citadel (quant) added 78.7% ($26.5M), Norges Bank (sovereign) added 54.1% ($25.1M), Bridgewater (quant) added 78.9% ($3.7M)
- Point72 (quant) fully exited $40.5M, D.E. Shaw trimmed 60.4% ($65.5M), Fil fully exited $67.0M
- Net net: $138.7M more selling than buying in the reported quarter
- Analyst consensus is 75% bullish (24 Buy/8 Hold/0 Sell)
Financial Impact
Net institutional outflow of approximately $138.7M (buyers added $86.1M, sellers removed $224.8M)
Risk Factors
- Continued selling pressure from other institutional holders
- 13F reporting lag means positions may have been unwound since quarter-end
- If the selling thesis is correct, NXT may underperform in coming weeks
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-NXT-2024-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | Institutional Cluster | $78.89 | awaiting T+60 | — | — |
Oct 23, 2026 4d ago | PTAB Trial | $78.59 | awaiting T+60 | — | — |
Sep 1, 2026 7w ago | 144 | $83.07 | awaiting T+60 | — | — |
Aug 24, 2026 9w ago | Insider Cluster | $84.81 | awaiting T+60 | — | — |
Aug 12, 2026 10w ago | Insider Cluster | $104.55 | awaiting T+60 | — | — |
Aug 11, 2026 10w ago | Insider Cluster | $103.67 | awaiting T+60 | — | — |
Aug 11, 2026 10w ago | 144 | $102.91 | awaiting T+60 | — | — |
Aug 11, 2026 10w ago | 144 | $102.91 | awaiting T+60 | — | — |
Aug 10, 2026 11w ago | 144 | $102.91 | awaiting T+60 | — | — |
Jun 22, 2026 18w ago | 144 | $120.64 $78.03 | ▼ −35.32% | ▼ −38.57% | — |
US Market Status
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