Based on 133 hedge funds · latest filing: 2022 Q1 · 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 — 93% of 3.0Y peak
93% of all-time peak
133 funds currently hold this stock — 93% of the 3.0-year high of 143 funds (reached 2021 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +6% more funds vs a year ago
fund count last 6Q
+7 new funds entered over the past year (+6% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟠
More sellers than buyers — 41% buying
57 buying82 selling
Last quarter: 82 funds reduced or exited vs 57 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 — ~16 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 40 → 19 → 21 → 16. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
65% of holders stayed for 2+ years
■ 65% conviction (2yr+)
■ 19% medium
■ 17% new
86 out of 133 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.
📊
Peak discovery — momentum slowing
18 → 40 → 19 → 21 → 16 new funds/Q
New funds entering each quarter: 40 → 19 → 21 → 16. The stock is well-known in the hedge fund world but new entries are declining. The easy phase of institutional discovery may be behind us.
🏛️
Deep conviction — 74% of holders stayed 2+ years
■ 74% veterans
■ 5% 1-2yr
■ 21% new
Of 133 current holders: 99 (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.
✅
Strong quality — 21% from major AUM funds
21% from top-100 AUM funds
28 of 133 current holders rank in the top 100 by AUM. A meaningful share of the ownership base comes from the most well-resourced institutions.
Exit risk score 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.