Based on 34 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed this position than added to it. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams deciding to exit.
📊
High ownership — 81% of 3.0Y peak
81% of all-time peak
34 funds currently hold this stock — 81% of the 3.0-year high of 42 funds (reached 2024 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 19% fewer funds vs a year ago
fund count last 6Q
8 fewer hedge funds hold this stock compared to a year ago (-19% decline). When institutions consistently reduce exposure, it's worth asking what they know that retail investors don't.
🔴
Heavy selling pressure — only 25% buying
6 buying18 selling
Last quarter: 18 funds sold vs only 6 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~3 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 1 → 4 → 5 → 3. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 21% entered in last year
■ 6% conviction (2yr+)
■ 74% medium
■ 21% new
Only 2 funds (6%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
💎
Buying through price weakness — shares -21%, value -98%
Last quarter: funds added -21% more shares while total portfolio value only changed -98%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📈
Growing discovery — still being found
16 → 1 → 4 → 5 → 3 new funds/Q
New funds entering each quarter: 1 → 4 → 5 → 3. A growing number of institutions are discovering this stock each quarter. The idea is still spreading — there is room for more buyers to enter.
📊
Mixed cohorts — 9% veterans, 40% new entrants
■ 9% veterans
■ 51% 1-2yr
■ 40% new
Of 35 current holders: 3 (9%) held 2+ years, 18 held 1–2 years, 14 (40%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 24% from major AUM funds
24% from top-100 AUM funds
8 of 34 current holders rank in the top 100 by AUM. A meaningful share of the ownership base comes from the most well-resourced institutions.
Exit risk score 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.