Based on 95 hedge funds · latest filing: 2025 Q4 · 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.
🏔️
At the ownership peak (97% of max)
97% of all-time peak
95 hedge funds hold this stock right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a 'crowded trade' — high ownership doesn't mean safe.
📶
Steady growth — +16% more funds vs a year ago
fund count last 6Q
+13 new funds entered over the past year (+16% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡
Slight buying edge — 50% buying
55 buying55 selling
Last quarter: 55 funds bought or added vs 55 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
⚠️
Fewer new buyers each quarter (-8 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 23 → 30 → 27 → 19. 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.
🔄
Mostly new holders — 34% entered in last year
■ 21% conviction (2yr+)
■ 45% medium
■ 34% new
Only 20 funds (21%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
➡️
Steady discovery — ~19 new funds/quarter
21 → 23 → 30 → 27 → 19 new funds/Q
New funds entering each quarter: 23 → 30 → 27 → 19. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 26% veterans, 44% new entrants
■ 26% veterans
■ 29% 1-2yr
■ 44% new
Of 99 current holders: 26 (26%) held 2+ years, 29 held 1–2 years, 44 (44%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 20% from major AUM funds
20% from top-100 AUM funds
19 of 95 current holders rank in the top 100 by AUM. A meaningful share of the ownership base comes from the most well-resourced institutions.
4.1
out of 10
Moderate Exit Risk
Exit risk score 4.1/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.