Based on 170 hedge funds · latest filing: 2025 Q3 · updated quarterly
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Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their ARIS positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
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High ownership — 83% of 3.0Y peak
83% of all-time peak
170 funds currently hold this stock — 83% of the 3.0-year high of 205 funds (reached 2025 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Steady growth — +16% more funds vs a year ago
fund count last 6Q
+23 new funds entered over the past year (+16% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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More sellers than buyers — 42% buying
96 buying131 selling
Last quarter: 131 funds reduced or exited vs 96 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
➡️
Steady new buyers — ~44 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 62 → 57 → 39 → 44. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Peak discovery — momentum slowing
27 → 62 → 57 → 39 → 44 new funds/Q
New funds entering each quarter: 62 → 57 → 39 → 44. ARIS is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
Exit risk score 2.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.