Based on 27 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 their ACOG positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️
At the ownership peak (96% of max)
96% of all-time peak
27 hedge funds hold ACOG right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
📶
Steady growth — +17% more funds vs a year ago
fund count last 6Q
+4 new funds entered over the past year (+17% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟢
More buyers than sellers — 62% buying
18 buying11 selling
Last quarter: 18 funds were net buyers (7 opened a brand new position + 11 added to an existing one). Only 11 were sellers (3 trimmed + 8 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~7 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 9 → 7 → 7. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 44% entered in last year
■ 4% conviction (2yr+)
■ 52% medium
■ 44% new
Only 1 funds (4%) 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.
➡️
Steady discovery — ~7 new funds/quarter
23 → 2 → 9 → 7 → 7 new funds/Q
New funds entering each quarter: 2 → 9 → 7 → 7. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🌱
Early stage — 96% of holders entered in last year
■ 4% veterans
■ 0% 1-2yr
■ 96% new
Of 27 current holders: 26 (96%) entered in the past year, only 1 (4%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
📋
Smaller funds dominant — 0% AUM from top-100
0% from top-100 AUM funds
4 of 27 holders rank in the top 100 by AUM, but together hold only 0% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
4.2
out of 10
Moderate Exit Risk
Exit risk score 4.2/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.