Based on 18 hedge funds · latest filing: 2026 Q2 · updated quarterly
📉
Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their FEMY positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 47% of 3.0Y high
47% of all-time peak
Only 18 funds hold FEMY today versus a peak of 38 funds at 2025 Q4 — just 47% 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.
📉
Outflows — 49% fewer funds vs a year ago
fund count last 6Q
17 fewer hedge funds hold FEMY compared to a year ago (-49% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🔴
Heavy selling pressure — only 18% buying
7 buying33 selling
Last quarter: 33 funds sold vs only 7 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: 6 → 13 → 7 → 6. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 28% long-term, 22% new
■ 28% conviction (2yr+)
■ 50% medium
■ 22% new
Of the 18 current holders: 5 (28%) held >2 years, 9 held 1–2 years, and 4 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
💰
Price up while funds trimmed (+161% value, -74% shares)
Last quarter: total value of institutional FEMY holdings rose +161% even though funds reduced share count by 74%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
📊
Peak discovery — momentum slowing
7 → 6 → 13 → 7 → 6 new funds/Q
New funds entering each quarter: 6 → 13 → 7 → 6. FEMY is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️
Veteran-anchored — 47% veterans vs 32% newcomers
■ 47% veterans
■ 21% 1-2yr
■ 32% new
Entry-cohort mix of 19 holders: 9 (47%) are 2+ year veterans, 4 entered 1–2 years ago, and 6 (32%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋
Smaller funds dominant — 6% AUM from top-100
6% from top-100 AUM funds
8 of 18 holders rank in the top 100 by AUM, but together hold only 6% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 2.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.