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National CineMedia
NCMI

65 hedge funds and large institutions have $302M invested in National CineMedia in 2023 Q4 according to their latest regulatory filings, with 23 funds opening new positions, 18 increasing their positions, 10 reducing their positions, and 9 closing their positions.

New
Increased
Maintained
Reduced
Closed

40,350% more call options, than puts

Call options by funds: $809K | Put options by funds: $2K

156% more first-time investments, than exits

New positions opened: 23 | Existing positions closed: 9

97% more capital invested

Capital invested by funds: $153M → $302M (+$149M)

80% more repeat investments, than reductions

Existing positions increased: 18 | Existing positions reduced: 10

50% more funds holding in top 10

Funds holding in top 10: 2 → 3 (+1)

40.1% more ownership

Funds ownership: 35.25% → 75.34% (+40%)

27% more funds holding

Funds holding: 51 → 65 (+14)

Holders
65
Holders Change
+14
Holders Change %
+27.45%
% of All Funds
0.95%
Holding in Top 10
3
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+50%
% of All Funds
0.04%
New
23
Increased
18
Reduced
10
Closed
9
Calls
$809K
Puts
$2K
Net Calls
+$807K
Net Calls Change
-$109K

Top Buyers

1
Barclays
Barclays
United Kingdom
+$12.2M
2
Morgan Stanley
Morgan Stanley
New York
+$10.4M
3
First Eagle Investment Management
First Eagle Investment Management
New York
+$5.77M
4
Hotchkis & Wiley Capital Management
Hotchkis & Wiley Capital Management
California
+$5.03M
5
Goldman Sachs
Goldman Sachs
New York
+$4.89M

Top Sellers

1
CM
CastleKnight Management
New York
-$837K
2
BCM
BlueCrest Capital Management
Jersey
-$748K
3
OAG
Orbis Allan Gray
Bermuda
-$698K
4
Bank of America
Bank of America
North Carolina
-$500K
5
BCM
Bridgeway Capital Management
Texas
-$212K
Name Holding Trade Value Shares
Change 		Change in
Stake
BC
1
Blantyre Capital
United Kingdom
$110M +$108M +26,664,349 New
JP Morgan Chase
2
JP Morgan Chase
New York
$24.9M +$1M +247,696 +4%
Morgan Stanley
3
Morgan Stanley
New York
$24M +$10.4M +2,585,834 +80%
Hotchkis & Wiley Capital Management
4
Hotchkis & Wiley Capital Management
California
$19.6M +$5.03M +1,245,650 +36%
Vanguard Group
5
Vanguard Group
Pennsylvania
$14.8M +$320K +79,276 +2%
Barclays
6
Barclays
United Kingdom
$12.5M +$12.2M +3,020,300 New
VOYA Investment Management
7
VOYA Investment Management
Georgia
$11.6M – – –
GCM
8
Glendon Capital Management
California
$6.95M – – –
AllianceBernstein
9
AllianceBernstein
Tennessee
$6.81M – – –
BlackRock
10
BlackRock
New York
$6.76M +$500K +123,891 +8%
Goldman Sachs
11
Goldman Sachs
New York
$6.45M +$4.89M +1,210,985 +350%
CCM
12
Contrarian Capital Management
Connecticut
$6.38M – – –
WA
13
Whitebox Advisors
Minnesota
$6.26M -$202K -50,000 -3%
First Eagle Investment Management
14
First Eagle Investment Management
New York
$5.91M +$5.77M +1,428,533 New
Wellington Management Group
15
Wellington Management Group
Massachusetts
$5.53M +$758K +187,613 +16%
Geode Capital Management
16
Geode Capital Management
Massachusetts
$4.06M +$330K +81,754 +9%
AA
17
Ancora Advisors
Ohio
$2.87M +$2.12M +524,713 +314%
PAM
18
PSquared Asset Management
Switzerland
$2.83M – – –
Citigroup
19
Citigroup
New York
$2.52M -$15K -3,703 -0.6%
MHP
20
Manatuck Hill Partners
Connecticut
$2.48M +$1.62M +400,000 +200%
Bank of America
21
Bank of America
North Carolina
$2.37M -$500K -123,763 -18%
State Street
22
State Street
Massachusetts
$1.54M +$127K +31,400 +9%
QOP
23
Quinn Opportunity Partners
Virginia
$1.48M -$38.4K -9,514 -3%
Susquehanna International Group
24
Susquehanna International Group
Pennsylvania
$1.38M +$1.2M +296,230 +825%
SDIC
25
South Dakota Investment Council
South Dakota
$1.27M – – –
1
2 3

NCMI Hedge Fund Activity: Q4 2023 in Review

65 of the 6,859 institutional investors tracked by Wall St. Rank reported a position in National CineMedia (NCMI) for Q4 2023, worth a combined $302M — up 97% from $153M a quarter earlier.

Buyers outnumbered sellers: 23 funds opened new NCMI positions and 9 closed out — a net gain of 14 holders — while 18 added to existing stakes and 10 trimmed.

The largest buyer was Barclays, opening a new position worth an estimated $12.2M. The largest seller was CastleKnight Management, exiting entirely with an estimated $837K sold.

  • 65 institutional investors held National CineMedia (NCMI) as of Q4 2023, up from 51 in Q3 2023.
  • Funds reported $302M of National CineMedia stock for Q4 2023, up 97% quarter-over-quarter.
  • 23 funds opened new National CineMedia positions in Q4 2023 and 9 closed out, a net change of +14 holders.
  • The largest National CineMedia buyer in Q4 2023 was Barclays, an estimated $12.2M added.
  • The largest National CineMedia seller in Q4 2023 was CastleKnight Management, an estimated $837K sold.

Based on aggregated 13F filings for Q4 2023.