Based on 27 hedge funds · latest filing: 2025 Q4 · updated quarterly
➡️
No change last quarter
The number of hedge funds holding this stock didn't change last quarter. Neither a buying nor selling signal on its own — watch the next quarter for direction.
🏔️
At the ownership peak (96% of max)
96% of all-time peak
27 hedge funds hold this stock 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 'crowded trade' — high ownership doesn't mean safe.
📉
Outflows — 4% fewer funds vs a year ago
fund count last 6Q
1 fewer hedge funds hold this stock compared to a year ago (-4% decline). When institutions consistently reduce exposure, it's worth asking what they know that retail investors don't.
🟡
Slight buying edge — 52% buying
13 buying12 selling
Last quarter: 13 funds bought or added vs 12 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
➡️
Steady new buyers — ~5 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 3 → 5 → 5. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 22% entered in last year
■ 7% conviction (2yr+)
■ 70% medium
■ 22% new
Only 2 funds (7%) 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 -13%, value -33%
Last quarter: funds added -13% more shares while total portfolio value only changed -33%. 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
27 → 2 → 3 → 5 → 5 new funds/Q
New funds entering each quarter: 2 → 3 → 5 → 5. A growing number of institutions are discovering this stock each quarter. The idea is still spreading — there is room for more buyers to enter.
🌱
Early stage — 93% of holders entered in last year
■ 7% veterans
■ 0% 1-2yr
■ 93% new
Of 27 current holders: 25 (93%) entered in the past year, only 2 (7%) 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.
✅
Strong quality — 30% from major AUM funds
30% from top-100 AUM funds
8 of 27 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 3.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.