Based on 17 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
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.
📊
High ownership — 74% of 3.0Y peak
74% of all-time peak
17 funds currently hold this stock — 74% of the 3.0-year high of 23 funds (reached 2025 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 6% fewer funds vs a year ago
fund count last 6Q
1 fewer hedge funds hold this stock compared to a year ago (-6% decline). When institutions consistently reduce exposure, it's worth asking what they know that retail investors don't.
🔴
Heavy selling pressure — only 18% buying
2 buying9 selling
Last quarter: 9 funds sold vs only 2 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~0 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 4 → 2 → 4 → 0. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 6% entered in last year
■ 6% conviction (2yr+)
■ 88% medium
■ 6% 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 -9%, value -100%
Last quarter: funds added -9% more shares while total portfolio value only changed -100%. 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
17 → 4 → 2 → 4 → 0 new funds/Q
New funds entering each quarter: 4 → 2 → 4 → 0. 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.
🌱
Early stage — 88% of holders entered in last year
■ 12% veterans
■ 0% 1-2yr
■ 88% new
Of 17 current holders: 15 (88%) entered in the past year, only 2 (12%) 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 — 29% from major AUM funds
29% from top-100 AUM funds
5 of 17 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.