NDLS
name pending profile ingest
Momentum inputs (comparable managers):
holder breadth -16.7% ·
share flow -9.3% ·
net new positions -20.0%
— formula
Broad distribution — falling shares and fewer holders
All ownership figures: tracked 13F managers only, common-stock positions, reporting period Q3 2025
| Quarter | Holders | Δ | Shares | Reported value | New | Exits |
|---|---|---|---|---|---|---|
| Q4 2025 | 26 | +1 | 4.31M | $3.05M | +2 | −1 |
| Q3 2025 | 10 | -2 | 5.12M | $3.25M | — | −2 |
| Q2 2025 | 9 | 0 | 5.49M | $3.91M | — | — |
| Q1 2025 | 6 | +1 | 912.40K | $994,640 | +2 | −1 |
| Q4 2024 | 5 | -1 | 1.21M | $702,100 | — | −1 |
| Q3 2024 | 5 | -1 | 1.59M | $1.90M | — | −1 |
| Q2 2024 | 6 | — | 1.54M | $2.43M | — | — |
| # | Manager | Shares | Δ shares | Value | Their weight | Held | ||
|---|---|---|---|---|---|---|---|---|
| 1 | The Vanguard Group ✦ (passive) | 2.12M | 0.0% | $1.35M | 0.0% | Held | 2 | SEC ↗ |
| 2 | The Vanguard Group ✦ (passive) | 2.12M | 0.0% | $1.35M | 0.0% | Held | 2 | SEC ↗ |
| 3 | The Vanguard Group ✦ (passive) | 2.12M | 0.0% | $1.35M | 0.0% | Held | 2 | SEC ↗ |
| 4 | Fidelity (FMR) ✦ | 1.64M | -4.4% | $1.04M | 0.0% | ▼ Trim | 2 | SEC ↗ |
| 5 | Fidelity (FMR) ✦ | 1.64M | -4.4% | $1.04M | 0.0% | ▼ Trim | 2 | SEC ↗ |
| 6 | Fidelity (FMR) ✦ | 1.64M | -4.4% | $1.04M | 0.0% | ▼ Trim | 2 | SEC ↗ |
| 7 | BlackRock ✦ (passive) | 513.05K | -1.2% | $326,096 | 0.0% | ▼ Trim | 2 | SEC ↗ |
| 8 | Geode Capital Management ✦ (passive) | 362.04K | 0.0% | $230,177 | 0.0% | Held | 6 | SEC ↗ |
| 9 | Geode Capital Management ✦ (passive) | 362.04K | 0.0% | $230,177 | 0.0% | Held | 6 | SEC ↗ |
| 10 | State Street Global Advisors ✦ (passive) | 138.75K | 0.0% | $88,191 | 0.0% | Held | 4 | SEC ↗ |
| 11 | Millennium Management ✦ | 128.09K | -30.1% | $81,413 | 0.0% | ▼ Trim | 6 | SEC ↗ |
| 12 | Goldman Sachs Group ✦ | 125.86K | — | $79,999 | 0.0% | n/c | 1 | SEC ↗ |
| 13 | Goldman Sachs Group ✦ | 125.86K | — | $79,999 | 0.0% | n/c | 1 | SEC ↗ |
| 14 | Renaissance Technologies ✦ | 68.90K | -64.4% | $43,793 | 0.0% | ▼ Trim | 3 | SEC ↗ |
| 15 | Morgan Stanley ✦ | 22.44K | — | $14,261 | 0.0% | n/c | 1 | SEC ↗ |
| 16 | Morgan Stanley ✦ | 22.44K | — | $14,261 | 0.0% | n/c | 1 | SEC ↗ |
| 17 | JPMorgan Chase ✦ | 1.66K | — | $1,056 | 0.0% | n/c | 1 | SEC ↗ |
| 18 | JPMorgan Chase ✦ | 1.66K | — | $1,056 | 0.0% | n/c | 1 | SEC ↗ |
“Their weight” = the position's share of that manager's reported 13F equity value — the conviction measure. ✦ = curated manager.
New buyers
| No new tracked buyers this quarter. |
Exited
| Arrowstreet Capital | $98,338 | was 0.0% |
| Citadel Advisors | $88,452 | was 0.0% |
Full-market context: across ALL 13F filers (SEC structured data, Q1 2026): 2 holders, 880.78K shares, $7.53M reported. This is a different, older period than the tracked-universe figures above and the two are never mixed.
What else this security's tracked holders most often hold — shared-ownership counts, not fundamental relationships.