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National CineMedia
NCMI

104 hedge funds and large institutions have $252M invested in National CineMedia in 2026 Q1 according to their latest regulatory filings, with 24 funds opening new positions, 37 increasing their positions, 29 reducing their positions, and 16 closing their positions.

New
Increased
Maintained
Reduced
Closed

50% more first-time investments, than exits

New positions opened: 24 | Existing positions closed: 16

28% more repeat investments, than reductions

Existing positions increased: 37 | Existing positions reduced: 29

4% more funds holding

Funds holding: 100 → 104 (+4)

1.33% more ownership

Funds ownership: 87.29% → 88.62% (+1.3%)

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

21% less capital invested

Capital invested by funds: $319M → $252M (-$66.6M)

65% less call options, than puts

Call options by funds: $96K | Put options by funds: $272K

Holders
104
Holders Change
+4
Holders Change %
+4%
% of All Funds
1.28%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.01%
New
24
Increased
37
Reduced
29
Closed
16
Calls
$96K
Puts
$272K
Net Calls
-$176K
Net Calls Change
-$282K

Top Buyers

1
Hotchkis & Wiley Capital Management
Hotchkis & Wiley Capital Management
California
+$6.88M
2
ER
EVR Research
Virginia
+$3.62M
3
LCG
Luxor Capital Group
New York
+$2.43M
4
ZA
Zazove Associates
Nevada
+$1.61M
5
BCM
Bridgeway Capital Management
Texas
+$741K

Top Sellers

1
SA
Sycale Advisors
New York
-$5.58M
2
First Eagle Investment Management
First Eagle Investment Management
New York
-$2.88M
3
OAG
Orbis Allan Gray
Bermuda
-$1.35M
4
GC
Gratia Capital
California
-$1.17M
5
Millennium Management
Millennium Management
New York
-$651K
Name Holding Trade Value Shares
Change 		Change in
Stake
Marshall Wace
26
Marshall Wace
United Kingdom
$1.45M -$627K -178,555 -27%
First Eagle Investment Management
27
First Eagle Investment Management
New York
$1.33M -$2.88M -819,704 -65%
UBS Group
28
UBS Group
Switzerland
$1.09M +$306K +87,198 +32%
GC
29
Gratia Capital
California
$970K -$1.17M -332,000 -51%
HCA
30
Harbor Capital Advisors
Illinois
$739K +$368K +104,736 +76%
Ameriprise
31
Ameriprise
Minnesota
$720K +$562 +160 +0.1%
BCM
32
Bridgeway Capital Management
Texas
$644K +$741K +211,100 New
SEI Investments
33
SEI Investments
Pennsylvania
$557K +$298K +84,808 +87%
PRCP
34
Pacific Ridge Capital Partners
Oregon
$480K +$115K +32,769 +26%
Morgan Stanley
35
Morgan Stanley
New York
$462K -$473K -134,741 -47%
Invesco
36
Invesco
Georgia
$442K -$4.89K -1,394 -1%
American Century Companies
37
American Century Companies
Missouri
$441K -$3.79K -1,078 -0.7%
Citadel Advisors
38
Citadel Advisors
Florida
$380K -$400K -114,057 -48%
N
39
Nuveen
North Carolina
$315K – – –
SDIC
40
South Dakota Investment Council
South Dakota
$296K – – –
RhumbLine Advisers
41
RhumbLine Advisers
Massachusetts
$256K -$14.8K -4,227 -5%
Bank of America
42
Bank of America
North Carolina
$229K +$73.5K +20,928 +39%
BAM
43
Byrne Asset Management
New Jersey
$195K +$38.2K +10,890 +21%
EC
44
EntryPoint Capital
New York
$186K +$19.3K +5,504 +10%
HIGP
45
Hill Investment Group Partners
Missouri
$179K +$63.9K +18,210 +45%
AQR Capital Management
46
AQR Capital Management
Connecticut
$173K +$87.7K +24,987 +79%
T. Rowe Price Associates
47
T. Rowe Price Associates
Maryland
$160K +$47.8K +13,609 +35%
Creative Planning
48
Creative Planning
Kansas
$151K -$157K -44,816 -47%
Susquehanna International Group
49
Susquehanna International Group
Pennsylvania
$138K +$159K +45,233 New
State of Wisconsin Investment Board
50
State of Wisconsin Investment Board
Wisconsin
$135K +$13.9K +3,967 +10%
1
2
3 4 5

NCMI Hedge Fund Activity: Q1 2026 in Review

104 of the 8,126 institutional investors tracked by Wall St. Rank reported a position in National CineMedia (NCMI) for Q1 2026, worth a combined $252M — down 21% from $319M a quarter earlier.

Buyers outnumbered sellers: 24 funds opened new NCMI positions and 16 closed out — a net gain of 8 holders — while 37 added to existing stakes and 29 trimmed.

The largest buyer was Hotchkis & Wiley Capital Management, adding an estimated $6.88M. The largest seller was Sycale Advisors, cutting an estimated $5.58M.

  • 104 institutional investors held National CineMedia (NCMI) as of Q1 2026, up from 100 in Q4 2025.
  • Funds reported $252M of National CineMedia stock for Q1 2026, down 21% quarter-over-quarter.
  • 24 funds opened new National CineMedia positions in Q1 2026 and 16 closed out, a net change of +8 holders.
  • The largest National CineMedia buyer in Q1 2026 was Hotchkis & Wiley Capital Management, an estimated $6.88M added.
  • The largest National CineMedia seller in Q1 2026 was Sycale Advisors, an estimated $5.58M sold.

Based on aggregated 13F filings for Q1 2026.