Based on 20 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added KLIP 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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High ownership — 71% of 3.0Y peak
71% of all-time peak
20 funds currently hold this stock — 71% of the 3.0-year high of 28 funds (reached 2024 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
〰️
Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding KLIP is almost the same as a year ago (+0 funds, +0% change). No significant rush to buy or sell — institutional backing is holding steady.
🟢
More buyers than sellers — 80% buying
16 buying4 selling
Last quarter: 16 funds were net buyers (5 opened a brand new position + 11 added to an existing one). Only 4 were sellers (2 trimmed + 2 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~5 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 8 → 5 → 2 → 5. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 35% entered in last year
■ 10% conviction (2yr+)
■ 55% medium
■ 35% new
Only 2 funds (10%) 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.
⚠️
Saturation — most institutions already know this story
7 → 8 → 5 → 2 → 5 new funds/Q
New funds entering each quarter: 8 → 5 → 2 → 5. 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 — 25% veterans, 40% new entrants
■ 25% veterans
■ 35% 1-2yr
■ 40% new
Of 20 current holders: 5 (25%) held 2+ years, 7 held 1–2 years, 8 (40%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 38% AUM from major funds
38% from top-100 AUM funds
5 of 20 holders rank in the top 100 by AUM, accounting for 38% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 2.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.