Based on 696 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 11 quarters in a row
For 11 consecutive quarters, 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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At the ownership peak (100% of max)
100% of all-time peak
696 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.
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Steady growth — +18% more funds vs a year ago
fund count last 6Q
+106 new funds entered over the past year (+18% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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More buyers than sellers — 60% buying
431 buying287 selling
Last quarter: 431 funds were net buyers (87 opened a brand new position + 344 added to an existing one). Only 287 were sellers (219 trimmed + 68 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+10 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 119 → 91 → 77 → 87. 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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Mixed — 29% long-term, 21% new
■ 29% conviction (2yr+)
■ 50% medium
■ 21% new
Of the 696 current holders: 200 (29%) held >2 years, 348 held 1–2 years, and 148 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
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Buying through price weakness — shares -17%, value -50%
Last quarter: funds added -17% more shares while total portfolio value only changed -50%. 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
130 → 119 → 91 → 77 → 87 new funds/Q
New funds entering each quarter: 119 → 91 → 77 → 87. 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.
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Mixed cohorts — 28% veterans, 38% new entrants
■ 28% veterans
■ 34% 1-2yr
■ 38% new
Of 697 current holders: 195 (28%) held 2+ years, 236 held 1–2 years, 266 (38%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Smaller funds dominant — 3% top-100 AUM
3% from top-100 AUM funds
Only 21 of 696 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 3.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.