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NextNav
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186 hedge funds and large institutions have $1.35B invested in NextNav in 2025 Q4 according to their latest regulatory filings, with 33 funds opening new positions, 75 increasing their positions, 49 reducing their positions, and 19 closing their positions.

New
Increased
Maintained
Reduced
Closed

234% more call options, than puts

Call options by funds: $128M | Put options by funds: $38.2M

74% more first-time investments, than exits

New positions opened: 33 | Existing positions closed: 19

53% more repeat investments, than reductions

Existing positions increased: 75 | Existing positions reduced: 49

40% more funds holding in top 10

Funds holding in top 10: 5 → 7 (+2)

31% more capital invested

Capital invested by funds: $1.03B → $1.35B (+$317M)

7% more funds holding

Funds holding: 174 → 186 (+12)

5.95% more ownership

Funds ownership: 54.18% → 60.13% (+6%)

Holders
186
Holders Change
+12
Holders Change %
+6.9%
% of All Funds
2.25%
Holding in Top 10
7
Holding in Top 10 Change
+2
Holding in Top 10 Change %
+40%
% of All Funds
0.08%
New
33
Increased
75
Reduced
49
Closed
19
Calls
$128M
Puts
$38.2M
Net Calls
+$89.5M
Net Calls Change
+$16.5M

Top Buyers

Rank Fund Capital Flow
1
WHCM
Wolf Hill Capital Management
Connecticut
+$22.3M
2
VanEck Associates
VanEck Associates
New York
+$8.68M
3
Vanguard Group
Vanguard Group
Pennsylvania
+$8.14M
4
UBS Group
UBS Group
Switzerland
+$7.33M
5
Walleye Capital
Walleye Capital
New York
+$5.63M

Top Sellers

Rank Fund Capital Flow
1
Millennium Management
Millennium Management
New York
-$11.2M
2
IP
Interval Partners
New York
-$5.5M
3
EIP
Epoch Investment Partners
New York
-$4.07M
4
Morgan Stanley
Morgan Stanley
New York
-$3.12M
5
SAMU
SONA Asset Management (US)
New York
-$2.8M

NN Hedge Fund Activity: Q4 2025 in Review

186 of the 8,267 institutional investors tracked by Wall St. Rank reported a position in NextNav (NN) for Q4 2025, worth a combined $1.35B — up 31% from $1.03B a quarter earlier.

Buyers outnumbered sellers: 33 funds opened new NN positions and 19 closed out — a net gain of 14 holders — while 75 added to existing stakes and 49 trimmed.

The largest buyer was Wolf Hill Capital Management, adding an estimated $22.3M. The largest seller was Millennium Management, cutting an estimated $11.2M.

  • 186 institutional investors held NextNav (NN) as of Q4 2025, up from 174 in Q3 2025.
  • Funds reported $1.35B of NextNav stock for Q4 2025, up 31% quarter-over-quarter.
  • 33 funds opened new NextNav positions in Q4 2025 and 19 closed out, a net change of +14 holders.
  • The largest NextNav buyer in Q4 2025 was Wolf Hill Capital Management, an estimated $22.3M added.
  • The largest NextNav seller in Q4 2025 was Millennium Management, an estimated $11.2M sold.

Based on aggregated 13F filings for Q4 2025.