National CineMedia
NCMI
100 hedge funds and large institutions have $319M invested in National CineMedia in 2025 Q4 according to their latest regulatory filings, with 10 funds opening new positions, 36 increasing their positions, 36 reducing their positions, and 18 closing their positions.
10,600% more call options, than puts
Call options by funds: $107K | Put options by funds: $1K
2.07% more ownership
Funds ownership: 85.22% → 87.29% (+2.1%)
0% more repeat investments, than reductions
Existing positions increased: 36 | Existing positions reduced: 36
7% less funds holding
Funds holding: 108 → 100 (-8)
12% less capital invested
Capital invested by funds: $360M → $319M (-$41.6M)
44% less first-time investments, than exits
New positions opened: 10 | Existing positions closed: 18
50% less funds holding in top 10
Funds holding in top 10: 2 → 1 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
OAG
Orbis Allan Gray
Hamilton,
Bermuda
|
+$17.5M |
| 2 |
Bank of New York Mellon
New York
|
+$2.02M |
| 3 |
Barclays
London,
United Kingdom
|
+$1.92M |
| 4 |
Dimensional Fund Advisors
Austin,
Texas
|
+$668K |
| 5 |
BlackRock
New York
|
+$651K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SA
Sycale Advisors
New York
|
-$3.75M |
| 2 |
Wellington Management Group
Boston,
Massachusetts
|
-$3.24M |
| 3 |
AA
Ancora Advisors
Cleveland,
Ohio
|
-$1.22M |
| 4 |
VOYA Investment Management
Atlanta,
Georgia
|
-$1.13M |
| 5 |
TI
Trexquant Investment
Stamford,
Connecticut
|
-$1.11M |
NCMI Hedge Fund Activity: Q4 2025 in Review
100 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in National CineMedia (NCMI) for Q4 2025, worth a combined $319M — down 12% from $360M a quarter earlier.
Sellers outnumbered buyers: 18 funds closed out of NCMI and 10 opened new positions — a net loss of 8 holders — while 36 trimmed existing stakes and 36 added.
The largest buyer was Orbis Allan Gray, adding an estimated $17.5M. The largest seller was Sycale Advisors, cutting an estimated $3.75M.
- 100 institutional investors held National CineMedia (NCMI) as of Q4 2025, down from 108 in Q3 2025.
- Funds reported $319M of National CineMedia stock for Q4 2025, down 12% quarter-over-quarter.
- 10 funds opened new National CineMedia positions in Q4 2025 and 18 closed out, a net change of -8 holders.
- The largest National CineMedia buyer in Q4 2025 was Orbis Allan Gray, an estimated $17.5M added.
- The largest National CineMedia seller in Q4 2025 was Sycale Advisors, an estimated $3.75M sold.
Based on aggregated 13F filings for Q4 2025.