Based on 78 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 3 quarters in a row
For 3 consecutive quarters, 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 — 77% of 3.0Y peak
77% of all-time peak
78 funds currently hold this stock — 77% of the 3.0-year high of 101 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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Outflows — 22% fewer funds vs a year ago
fund count last 6Q
22 fewer hedge funds hold this stock compared to a year ago (-22% decline). When institutions consistently reduce exposure, it's worth asking what they know that retail investors don't.
🔴
Heavy selling pressure — only 33% buying
29 buying58 selling
Last quarter: 58 funds sold vs only 29 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~9 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 14 → 15 → 9 → 9. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
68% of holders stayed for 2+ years
■ 68% conviction (2yr+)
■ 17% medium
■ 15% new
53 out of 78 hedge funds have held this stock for over 2 years without selling. Long-term holders are harder to shake out during market dips — they represent a stable ownership base that reduces the risk of sudden mass selling.
💎
Buying through price weakness — shares +9%, value -21%
Last quarter: funds added +9% more shares while total portfolio value only changed -21%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📊
Peak discovery — momentum slowing
16 → 14 → 15 → 9 → 9 new funds/Q
New funds entering each quarter: 14 → 15 → 9 → 9. The stock is well-known in the hedge fund world but new entries are declining. The easy phase of institutional discovery may be behind us.
🏛️
Deep conviction — 75% of holders stayed 2+ years
■ 75% veterans
■ 6% 1-2yr
■ 19% new
Of 81 current holders: 61 (75%) 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 — 26% from major AUM funds
26% from top-100 AUM funds
20 of 78 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 3.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.