Based on 18 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.
🔻
Below peak — only 60% of 3.0Y high
60% of all-time peak
Only 18 funds hold this stock today versus a peak of 30 funds at 2024 Q3 — just 60% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
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Outflows — 36% fewer funds vs a year ago
fund count last 6Q
10 fewer hedge funds hold this stock compared to a year ago (-36% decline). When institutions consistently reduce exposure, it's worth asking what they know that retail investors don't.
🟡
Slight buying edge — 50% buying
5 buying5 selling
Last quarter: 5 funds bought or added vs 5 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 — ~1 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 5 → 2 → 4 → 1. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 17% entered in last year
■ 6% conviction (2yr+)
■ 78% medium
■ 17% new
Only 1 funds (6%) 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 -8%, value -99%
Last quarter: funds added -8% more shares while total portfolio value only changed -99%. 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
4 → 5 → 2 → 4 → 1 new funds/Q
New funds entering each quarter: 5 → 2 → 4 → 1. 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.
📊
Mixed cohorts — 6% veterans, 39% new entrants
■ 6% veterans
■ 56% 1-2yr
■ 39% new
Of 18 current holders: 1 (6%) held 2+ years, 10 held 1–2 years, 7 (39%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 22% from major AUM funds
22% from top-100 AUM funds
4 of 18 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 1.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.