Based on 21 hedge funds · latest filing: 2026 Q2 · updated quarterly
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No change last quarter
The number of hedge funds holding this stock didn't change last quarter. Neither a buying nor selling signal on its own — watch the next quarter for direction.
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High ownership — 75% of 3.0Y peak
75% of all-time peak
21 funds currently hold this stock — 75% of the 3.0-year high of 28 funds (reached 2024 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 9% fewer funds vs a year ago
fund count last 6Q
2 fewer hedge funds hold HHS compared to a year ago (-9% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Heavy selling pressure — only 33% buying
4 buying8 selling
Last quarter: 8 funds sold vs only 4 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
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Steady new buyers — ~1 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 4 → 2 → 2 → 1. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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76% of holders stayed for 2+ years
■ 76% conviction (2yr+)
■ 14% medium
■ 10% new
16 out of 21 hedge funds have held HHS for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
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Saturation — most institutions already know this story
3 → 4 → 2 → 2 → 1 new funds/Q
New funds entering each quarter: 4 → 2 → 2 → 1. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
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Veteran-anchored — 76% veterans vs 19% newcomers
■ 76% veterans
■ 5% 1-2yr
■ 19% new
Entry-cohort mix of 21 holders: 16 (76%) are 2+ year veterans, 1 entered 1–2 years ago, and 4 (19%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Smaller funds dominant — 8% AUM from top-100
8% from top-100 AUM funds
9 of 21 holders rank in the top 100 by AUM, but together hold only 8% 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.