Based on 41 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added KNGZ 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
41 hedge funds hold KNGZ 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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Steady growth — +11% more funds vs a year ago
fund count last 6Q
+4 new funds entered over the past year (+11% 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 — 72% buying
26 buying10 selling
Last quarter: 26 funds were net buyers (5 opened a brand new position + 21 added to an existing one). Only 10 were sellers (7 trimmed + 3 sold completely). A clear majority buying is a strong confirmation signal.
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Steady new buyers — ~5 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 3 → 8 → 5 → 5. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mixed — 39% long-term, 22% new
■ 39% conviction (2yr+)
■ 39% medium
■ 22% new
Of the 41 current holders: 16 (39%) held >2 years, 16 held 1–2 years, and 9 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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Steady discovery — ~5 new funds/quarter
8 → 3 → 8 → 5 → 5 new funds/Q
New funds entering each quarter: 3 → 8 → 5 → 5. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Mixed cohorts — 39% veterans, 34% new entrants
■ 39% veterans
■ 27% 1-2yr
■ 34% new
Of 41 current holders: 16 (39%) held 2+ years, 11 held 1–2 years, 14 (34%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Elite ownership — 47% AUM from top-100 funds
47% from top-100 AUM funds
5 of 41 holders are among the 100 largest funds by AUM, controlling 47% of total institutional value in KNGZ. 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 3.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.