Based on 199 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Selling streak — 3 quarters in a row
For 3 consecutive quarters, 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.
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High ownership — 77% of 3.0Y peak
77% of all-time peak
199 funds currently hold this stock — 77% of the 3.0-year high of 260 funds (reached 2025 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 22% fewer funds vs a year ago
fund count last 6Q
55 fewer hedge funds hold this stock compared to a year ago (-22% decline). When institutions consistently reduce exposure, it's worth asking what they know that retail investors don't.
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More sellers than buyers — 46% buying
103 buying119 selling
Last quarter: 119 funds reduced or exited vs 103 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 — ~28 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 53 → 30 → 26 → 28. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
51% of holders stayed for 2+ years
■ 51% conviction (2yr+)
■ 34% medium
■ 15% new
101 out of 199 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.
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Peak discovery — momentum slowing
72 → 53 → 30 → 26 → 28 new funds/Q
New funds entering each quarter: 53 → 30 → 26 → 28. 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 — 64% of holders stayed 2+ years
■ 64% veterans
■ 15% 1-2yr
■ 21% new
Of 214 current holders: 136 (64%) 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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Smaller funds dominant — 14% top-100 AUM
14% from top-100 AUM funds
Only 28 of 199 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 2.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.