Based on 36 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 their DOYU positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 86% of 3.0Y peak
86% of all-time peak
36 funds currently hold this stock — 86% of the 3.0-year high of 42 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 — 10% fewer funds vs a year ago
fund count last 6Q
4 fewer hedge funds hold DOYU compared to a year ago (-10% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🔴
Heavy selling pressure — only 36% buying
13 buying23 selling
Last quarter: 23 funds sold vs only 13 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~4 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 10 → 5 → 9 → 4. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 28% entered in last year
■ 8% conviction (2yr+)
■ 64% medium
■ 28% new
Only 3 funds (8%) 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.
➡️
Steady discovery — ~4 new funds/quarter
12 → 10 → 5 → 9 → 4 new funds/Q
New funds entering each quarter: 10 → 5 → 9 → 4. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Mixed cohorts — 11% veterans, 31% new entrants
■ 11% veterans
■ 58% 1-2yr
■ 31% new
Of 36 current holders: 4 (11%) held 2+ years, 21 held 1–2 years, 11 (31%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 39% AUM from major funds
39% from top-100 AUM funds
9 of 36 holders rank in the top 100 by AUM, accounting for 39% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.