Based on 31 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Selling streak — 4 quarters in a row
For 4 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 — 78% of 2.8Y peak
78% of all-time peak
31 funds currently hold this stock — 78% of the 2.8-year high of 40 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 — 21% fewer funds vs a year ago
fund count last 6Q
8 fewer hedge funds hold this stock compared to a year ago (-21% decline). When institutions consistently reduce exposure, it's worth asking what they know that retail investors don't.
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Heavy selling pressure — only 26% buying
6 buying17 selling
Last quarter: 17 funds sold vs only 6 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~2 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 4 → 8 → 3 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 39% long-term, 19% new
■ 39% conviction (2yr+)
■ 42% medium
■ 19% new
Of the 31 current holders: 12 (39%) held >2 years, 13 held 1–2 years, and 6 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.
⚠️
Saturation — most institutions already know this story
10 → 4 → 8 → 3 → 2 new funds/Q
New funds entering each quarter: 4 → 8 → 3 → 2. 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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Mixed cohorts — 39% veterans, 19% new entrants
■ 39% veterans
■ 42% 1-2yr
■ 19% new
Of 31 current holders: 12 (39%) held 2+ years, 13 held 1–2 years, 6 (19%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Smaller funds dominant — 13% top-100 AUM
13% from top-100 AUM funds
Only 4 of 31 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 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.