Based on 14 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their FUSE positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 14% of 3.0Y high
14% of all-time peak
Only 14 funds hold FUSE today versus a peak of 103 funds at 2022 Q3 — just 14% 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.
📉
Outflows — 39% fewer funds vs a year ago
fund count last 6Q
9 fewer hedge funds hold FUSE compared to a year ago (-39% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🔴
Heavy selling pressure — only 29% buying
6 buying15 selling
Last quarter: 15 funds sold vs only 6 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
⚠️
Fewer new buyers each quarter (-15 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 7 → 1 → 20 → 5. 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.
📌
Mixed — 29% long-term, 43% new
■ 29% conviction (2yr+)
■ 29% medium
■ 43% new
Of the 14 current holders: 4 (29%) held >2 years, 4 held 1–2 years, and 6 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
💎
Buying through price weakness — shares -14%, value -51%
Last quarter: funds added -14% more shares while total portfolio value only changed -51%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~5 new funds/quarter
4 → 7 → 1 → 20 → 5 new funds/Q
New funds entering each quarter: 7 → 1 → 20 → 5. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 57% veterans vs 43% newcomers
■ 57% veterans
■ 0% 1-2yr
■ 43% new
Entry-cohort mix of 14 holders: 8 (57%) are 2+ year veterans, 0 entered 1–2 years ago, and 6 (43%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋
Smaller funds dominant — 15% AUM from top-100
15% from top-100 AUM funds
4 of 14 holders rank in the top 100 by AUM, but together hold only 15% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 2.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.