Based on 1243 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Selling streak — 4 quarters in a row
For 4 consecutive quarters, more hedge funds reduced or closed their FISV positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
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Below peak — only 66% of 3.0Y high
66% of all-time peak
Only 1,243 funds hold FISV today versus a peak of 1,891 funds at 2025 Q1 — just 66% 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 — 34% fewer funds vs a year ago
fund count last 6Q
648 fewer hedge funds hold FISV compared to a year ago (-34% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠
More sellers than buyers — 44% buying
619 buying792 selling
Last quarter: 792 funds reduced or exited vs 619 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
⚠️
Fewer new buyers each quarter (-90 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 195 → 175 → 222 → 132. 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.
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71% of holders stayed for 2+ years
■ 71% conviction (2yr+)
■ 13% medium
■ 16% new
883 out of 1,243 hedge funds have held FISV for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
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Buying through price weakness — shares -5%, value -23%
Last quarter: funds added -5% more shares while total portfolio value only changed -23%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Steady discovery — ~132 new funds/quarter
182 → 195 → 175 → 222 → 132 new funds/Q
New funds entering each quarter: 195 → 175 → 222 → 132. 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 1,305 current holders: 963 (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 — 47% AUM from top-100 funds
47% from top-100 AUM funds
65 of 1243 holders are among the 100 largest funds by AUM, controlling 47% of total institutional value in FISV. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 2.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.