Based on 66 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 — 93% of 3.0Y peak
93% of all-time peak
66 funds currently hold this stock — 93% of the 3.0-year high of 71 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 — 7% fewer funds vs a year ago
fund count last 6Q
5 fewer hedge funds hold this stock compared to a year ago (-7% decline). When institutions consistently reduce exposure, it's worth asking what they know that retail investors don't.
🟡
Slight buying edge — 54% buying
29 buying25 selling
Last quarter: 29 funds bought or added vs 25 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 — ~4 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 11 → 2 → 6 → 4. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
80% of holders stayed for 2+ years
■ 80% conviction (2yr+)
■ 15% medium
■ 5% new
53 out of 66 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.
📊
Peak discovery — momentum slowing
10 → 11 → 2 → 6 → 4 new funds/Q
New funds entering each quarter: 11 → 2 → 6 → 4. 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 — 82% of holders stayed 2+ years
■ 82% veterans
■ 9% 1-2yr
■ 9% new
Of 66 current holders: 54 (82%) 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 — 21% from major AUM funds
21% from top-100 AUM funds
14 of 66 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 2.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.