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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
AA
76
Ancora Advisors
Ohio
$14.4K +$16.6K +4,720 New
California State Teachers Retirement System (CalSTRS)
77
California State Teachers Retirement System (CalSTRS)
California
$10.9K -$1.71K -486 -12%
SOADOR
78
State of Alaska Department of Revenue
Alaska
$9K – – –
Nisa Investment Advisors
79
Nisa Investment Advisors
Missouri
$6.93K +$246 +70 +3%
Carson Wealth (CWM LLC)
80
Carson Wealth (CWM LLC)
Nebraska
$6.79K +$6K +1,710 +331%
SCM
81
Sterling Capital Management
North Carolina
$6.7K -$5.71K -1,627 -43%
S
82
SignatureFD
Georgia
$5.72K +$3.63K +1,034 +123%
GI
83
GAMMA Investing
California
$4.17K +$1.46K +417 +44%
Optiver Holding
84
Optiver Holding
Netherlands
$3.71K +$857 +244 +25%
EP
85
Essential Partners
California
$3.63K +$4.17K +1,189 New
Osaic Holdings
86
Osaic Holdings
Arizona
$2.59K -$14 -4 -0.5%
SSG
87
Summit Securities Group
New York
$1.91K +$2.19K +625 New
UBS AM
88
UBS AM
Illinois
$1.67K +$1.48K +422 +340%
QCG
89
Quadrant Capital Group
Ohio
$1.65K +$1.9K +540 New
FFA
90
Farther Finance Advisors
California
$1.59K -$355 -101 -16%
PNC Financial Services Group
91
PNC Financial Services Group
Pennsylvania
$1.59K +$1.83K +520 New
Simplex Trading
92
Simplex Trading
Illinois
$1.22K -$18.9K -5,395 -93%
SS
93
SBI Securities
Japan
$1.21K +$176 +50 +14%
CAL
94
Capital Advisors Ltd
Ohio
$1K – – –
AF
95
Allworth Financial
California
$623 -$3.03K -863 -81%
Group One Trading
96
Group One Trading
Illinois
$592 – – –
TWD
97
True Wealth Design
Ohio
$199 +$228 +65 New
AUB
98
Atlantic Union Bankshares
Virginia
$92 – – –
GCP
99
Gill Capital Partners
Colorado
$88 +$102 +29 New
MCM
100
MAI Capital Management
Ohio
$40 +$46 +13 New
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.