Based on 33 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Selling streak — 1 quarter in a row
For 1 consecutive quarter, 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.
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High ownership — 73% of 3.0Y peak
73% of all-time peak
33 funds currently hold this stock — 73% of the 3.0-year high of 45 funds (reached 2024 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 27% fewer funds vs a year ago
fund count last 6Q
12 fewer hedge funds hold this stock compared to a year ago (-27% decline). When institutions consistently reduce exposure, it's worth asking what they know that retail investors don't.
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Heavy selling pressure — only 31% buying
12 buying27 selling
Last quarter: 27 funds sold vs only 12 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
⚠️
Fewer new buyers each quarter (-6 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 8 → 5 → 8 → 2. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
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Mostly new holders — 18% entered in last year
■ 12% conviction (2yr+)
■ 70% medium
■ 18% new
Only 4 funds (12%) 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.
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Buying through price weakness — shares -27%, value -60%
Last quarter: funds added -27% more shares while total portfolio value only changed -60%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Peak discovery — momentum slowing
17 → 8 → 5 → 8 → 2 new funds/Q
New funds entering each quarter: 8 → 5 → 8 → 2. 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.
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Mixed cohorts — 3% veterans, 22% new entrants
■ 3% veterans
■ 76% 1-2yr
■ 22% new
Of 37 current holders: 1 (3%) held 2+ years, 28 held 1–2 years, 8 (22%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 33% from major AUM funds
33% from top-100 AUM funds
11 of 33 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.