Based on 272 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their FIVN positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 82% of 3.0Y peak
82% of all-time peak
272 funds currently hold this stock — 82% of the 3.0-year high of 333 funds (reached 2023 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉
Outflows — 7% fewer funds vs a year ago
fund count last 6Q
20 fewer hedge funds hold FIVN compared to a year ago (-7% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠
More sellers than buyers — 49% buying
164 buying171 selling
Last quarter: 171 funds reduced or exited vs 164 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.
➡️
Steady new buyers — ~53 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 55 → 48 → 50 → 53. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
59% of holders stayed for 2+ years
■ 59% conviction (2yr+)
■ 19% medium
■ 21% new
161 out of 272 hedge funds have held FIVN 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.
💎
Buying through price weakness — shares -2%, value -20%
Last quarter: funds added -2% more shares while total portfolio value only changed -20%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~53 new funds/quarter
75 → 55 → 48 → 50 → 53 new funds/Q
New funds entering each quarter: 55 → 48 → 50 → 53. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 69% of holders stayed 2+ years
■ 69% veterans
■ 7% 1-2yr
■ 24% new
Of 303 current holders: 209 (69%) 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.
✅
Strong quality — 33% AUM from major funds
33% from top-100 AUM funds
37 of 272 holders rank in the top 100 by AUM, accounting for 33% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 2.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.