Based on 12 hedge funds · latest filing: 2022 Q2 · 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.
🔻
Below peak — only 11% of 3.0Y high
11% of all-time peak
Only 12 funds hold this stock today versus a peak of 108 funds at 2019 Q3 — just 11% 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 — 86% fewer funds vs a year ago
fund count last 6Q
75 fewer hedge funds hold this stock compared to a year ago (-86% decline). When institutions consistently reduce exposure, it's worth asking what they know that retail investors don't.
🔴
Heavy selling pressure — only 7% buying
5 buying68 selling
Last quarter: 68 funds sold vs only 5 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
⚠️
Fewer new buyers each quarter (-13 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 18 → 11 → 16 → 3. 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.
🔒
67% of holders stayed for 2+ years
■ 67% conviction (2yr+)
■ 25% medium
■ 8% new
8 out of 12 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
17 → 18 → 11 → 16 → 3 new funds/Q
New funds entering each quarter: 18 → 11 → 16 → 3. 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 — 67% of holders stayed 2+ years
■ 67% veterans
■ 25% 1-2yr
■ 8% new
Of 12 current holders: 8 (67%) 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.
📋
Smaller funds dominant — 8% top-100 AUM
8% from top-100 AUM funds
Only 1 of 12 current holders rank in the top 100 by AUM. The stock is held mostly by smaller and mid-sized funds — the largest institutional players haven't yet built significant positions.
Exit risk score 2.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.