Based on 61 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 this position than added to it. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams deciding to exit.
📊
High ownership — 90% of 3.0Y peak
90% of all-time peak
61 funds currently hold this stock — 90% of the 3.0-year high of 68 funds (reached 2025 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +17% more funds vs a year ago
fund count last 6Q
+9 new funds entered over the past year (+17% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡
Slight buying edge — 59% buying
44 buying31 selling
Last quarter: 44 funds bought or added vs 31 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 — ~10 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 8 → 16 → 13 → 10. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 39% entered in last year
■ 21% conviction (2yr+)
■ 39% medium
■ 39% new
Only 13 funds (21%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
➡️
Steady discovery — ~10 new funds/quarter
12 → 8 → 16 → 13 → 10 new funds/Q
New funds entering each quarter: 8 → 16 → 13 → 10. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 21% veterans, 48% new entrants
■ 21% veterans
■ 31% 1-2yr
■ 48% new
Of 61 current holders: 13 (21%) held 2+ years, 19 held 1–2 years, 29 (48%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
📋
Smaller funds dominant — 18% top-100 AUM
18% from top-100 AUM funds
Only 11 of 61 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 3.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.