Based on 78 hedge funds · latest filing: 2023 Q3 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added this stock than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term trade.
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High ownership — 93% of 3.0Y peak
93% of all-time peak
78 funds currently hold this stock — 93% of the 3.0-year high of 84 funds (reached 2021 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 4% fewer funds vs a year ago
fund count last 6Q
3 fewer hedge funds hold this stock compared to a year ago (-4% decline). When institutions consistently reduce exposure, it's worth asking what they know that retail investors don't.
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More buyers than sellers — 62% buying
37 buying23 selling
Last quarter: 37 funds were net buyers (11 opened a brand new position + 26 added to an existing one). Only 23 were sellers (18 trimmed + 5 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~11 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 8 → 5 → 6 → 11. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
76% of holders stayed for 2+ years
■ 76% conviction (2yr+)
■ 13% medium
■ 12% new
59 out of 78 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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Value +20% but shares only +2% — price-driven
Last quarter: the total dollar value of institutional holdings rose +20%, but actual share count only changed +2%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
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Growing discovery — still being found
8 → 8 → 5 → 6 → 11 new funds/Q
New funds entering each quarter: 8 → 5 → 6 → 11. A growing number of institutions are discovering this stock each quarter. The idea is still spreading — there is room for more buyers to enter.
🏛️
Deep conviction — 79% of holders stayed 2+ years
■ 79% veterans
■ 8% 1-2yr
■ 14% new
Of 80 current holders: 63 (79%) 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 — 19% top-100 AUM
19% from top-100 AUM funds
Only 15 of 78 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 2.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.