Based on 42 hedge funds · latest filing: 2020 Q1 · 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 55% of 3.0Y high
55% of all-time peak
Only 42 funds hold this stock today versus a peak of 77 funds at 2017 Q2 — just 55% 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 — 25% fewer funds vs a year ago
fund count last 6Q
14 fewer hedge funds hold this stock compared to a year ago (-25% decline). When institutions consistently reduce exposure, it's worth asking what they know that retail investors don't.
🔴
Heavy selling pressure — only 37% buying
23 buying39 selling
Last quarter: 39 funds sold vs only 23 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~6 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 18 → 18 → 8 → 6. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
76% of holders stayed for 2+ years
■ 76% conviction (2yr+)
■ 10% medium
■ 14% new
32 out of 42 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.
⚠️
Saturation — most institutions already know this story
9 → 18 → 18 → 8 → 6 new funds/Q
New funds entering each quarter: 18 → 18 → 8 → 6. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
🏛️
Deep conviction — 84% of holders stayed 2+ years
■ 84% veterans
■ 2% 1-2yr
■ 14% new
Of 49 current holders: 41 (84%) 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 — 31% from major AUM funds
31% from top-100 AUM funds
13 of 42 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 1.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.