Based on 278 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 7 quarters in a row
For 7 consecutive quarters, more hedge funds added KAR 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 momentum flip.
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At the ownership peak (100% of max)
100% of all-time peak
278 hedge funds hold KAR 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 classic 'crowded trade' — high popularity doesn't equal safety.
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Fast accumulation — +21% more funds vs a year ago
fund count last 6Q
+48 new funds entered over the past year (+21% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
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Slight buying edge — 50% buying
152 buying149 selling
Last quarter: 152 funds bought or added vs 149 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.
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Steady new buyers — ~56 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 41 → 42 → 53 → 56. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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64% of holders stayed for 2+ years
■ 64% conviction (2yr+)
■ 16% medium
■ 21% new
177 out of 278 hedge funds have held KAR 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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Growing discovery — still being found
43 → 41 → 42 → 53 → 56 new funds/Q
New funds entering each quarter: 41 → 42 → 53 → 56. A growing number of institutions are discovering KAR each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Deep conviction — 69% of holders stayed 2+ years
■ 69% veterans
■ 8% 1-2yr
■ 23% new
Of 280 current holders: 193 (69%) 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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Elite ownership — 51% AUM from top-100 funds
51% from top-100 AUM funds
40 of 278 holders are among the 100 largest funds by AUM, controlling 51% of total institutional value in KAR. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.