Based on 132 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Selling streak — 2 quarters in a row
For 2 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.
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High ownership — 87% of 3.0Y peak
87% of all-time peak
132 funds currently hold this stock — 87% of the 3.0-year high of 151 funds (reached 2025 Q2). 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
9 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.
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Slight buying edge — 56% buying
70 buying55 selling
Last quarter: 70 funds bought or added vs 55 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 — ~8 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 21 → 20 → 11 → 8. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
57% of holders stayed for 2+ years
■ 57% conviction (2yr+)
■ 28% medium
■ 15% new
75 out of 132 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
20 → 21 → 20 → 11 → 8 new funds/Q
New funds entering each quarter: 21 → 20 → 11 → 8. 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 — 58% of holders stayed 2+ years
■ 58% veterans
■ 15% 1-2yr
■ 27% new
Of 132 current holders: 76 (58%) 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.
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Smaller funds dominant — 10% top-100 AUM
10% from top-100 AUM funds
Only 13 of 132 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 2.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.