Based on 54 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their AFYA positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 73% of 3.0Y peak
73% of all-time peak
54 funds currently hold this stock — 73% of the 3.0-year high of 74 funds (reached 2024 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉
Outflows — 8% fewer funds vs a year ago
fund count last 6Q
5 fewer hedge funds hold AFYA compared to a year ago (-8% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🔴
Heavy selling pressure — only 38% buying
25 buying40 selling
Last quarter: 40 funds sold vs only 25 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~10 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 9 → 14 → 14 → 10. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
52% of holders stayed for 2+ years
■ 52% conviction (2yr+)
■ 26% medium
■ 22% new
28 out of 54 hedge funds have held AFYA for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
➡️
Steady discovery — ~10 new funds/quarter
5 → 9 → 14 → 14 → 10 new funds/Q
New funds entering each quarter: 9 → 14 → 14 → 10. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 65% of holders stayed 2+ years
■ 65% veterans
■ 13% 1-2yr
■ 22% new
Of 54 current holders: 35 (65%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
✅
Strong quality — 29% AUM from major funds
29% from top-100 AUM funds
14 of 54 holders rank in the top 100 by AUM, accounting for 29% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 2.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.