Based on 1273 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Selling streak — 3 quarters in a row
For 3 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 — 73% of 3.0Y peak
73% of all-time peak
1,273 funds currently hold this stock — 73% of the 3.0-year high of 1,732 funds (reached 2025 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 26% fewer funds vs a year ago
fund count last 6Q
436 fewer hedge funds hold this stock compared to a year ago (-26% decline). When institutions consistently reduce exposure, it's worth asking what they know that retail investors don't.
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Heavy selling pressure — only 36% buying
616 buying1104 selling
Last quarter: 1,104 funds sold vs only 616 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
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More new buyers each quarter (+46 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 152 → 180 → 156 → 202. A growing number of new institutional buyers means the stock is still being discovered — the opportunity hasn't been fully priced in.
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73% of holders stayed for 2+ years
■ 73% conviction (2yr+)
■ 13% medium
■ 15% new
924 out of 1,273 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.
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Buying through price weakness — shares +1%, value -46%
Last quarter: funds added +1% more shares while total portfolio value only changed -46%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~202 new funds/quarter
215 → 152 → 180 → 156 → 202 new funds/Q
New funds entering each quarter: 152 → 180 → 156 → 202. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 74% of holders stayed 2+ years
■ 74% veterans
■ 8% 1-2yr
■ 18% new
Of 1,337 current holders: 992 (74%) 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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Elite ownership — 52% AUM from top-100 funds
52% from top-100 AUM funds
45 of 1273 holders are among the 100 largest funds by AUM, controlling 52% of total institutional value in this stock. When the biggest players hold the majority of a position, it reflects deep institutional conviction — large funds have the most resources for due diligence and the most at stake.
Exit risk score 2.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.