Based on 805 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Selling streak — 2 quarters in a row
For 2 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 — 86% of 3.0Y peak
86% of all-time peak
805 funds currently hold this stock — 86% of the 3.0-year high of 934 funds (reached 2024 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 10% fewer funds vs a year ago
fund count last 6Q
89 fewer hedge funds hold this stock compared to a year ago (-10% 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 — 44% buying
359 buying455 selling
Last quarter: 455 funds reduced or exited vs 359 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.
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More new buyers each quarter (+17 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 71 → 101 → 62 → 79. A growing number of new institutional buyers means the stock is still being discovered — the opportunity hasn't been fully priced in.
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71% of holders stayed for 2+ years
■ 71% conviction (2yr+)
■ 19% medium
■ 10% new
569 out of 805 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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Buying through price weakness — shares +2%, value -17%
Last quarter: funds added +2% more shares while total portfolio value only changed -17%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Peak discovery — momentum slowing
83 → 71 → 101 → 62 → 79 new funds/Q
New funds entering each quarter: 71 → 101 → 62 → 79. 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 — 73% of holders stayed 2+ years
■ 73% veterans
■ 15% 1-2yr
■ 13% new
Of 833 current holders: 604 (73%) 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 — 5% top-100 AUM
5% from top-100 AUM funds
Only 38 of 805 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.