Based on 236 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds reduced or closed their KNTK positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 87% of 3.0Y peak
87% of all-time peak
236 funds currently hold this stock — 87% of the 3.0-year high of 270 funds (reached 2025 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉
Outflows — 10% fewer funds vs a year ago
fund count last 6Q
26 fewer hedge funds hold KNTK compared to a year ago (-10% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟡
Slight buying edge — 51% buying
141 buying137 selling
Last quarter: 141 funds bought or added vs 137 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.
⚠️
Fewer new buyers each quarter (-8 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 48 → 47 → 49 → 41. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
📌
Mixed — 39% long-term, 27% new
■ 39% conviction (2yr+)
■ 33% medium
■ 27% new
Of the 236 current holders: 93 (39%) held >2 years, 79 held 1–2 years, and 64 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.
💎
Buying through price weakness — shares +11%, value -6%
Last quarter: funds added +11% more shares while total portfolio value only changed -6%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~41 new funds/quarter
67 → 48 → 47 → 49 → 41 new funds/Q
New funds entering each quarter: 48 → 47 → 49 → 41. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 44% of holders stayed 2+ years
■ 44% veterans
■ 21% 1-2yr
■ 35% new
Of 241 current holders: 106 (44%) 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.
✅
Strong quality — 37% AUM from major funds
37% from top-100 AUM funds
36 of 236 holders rank in the top 100 by AUM, accounting for 37% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.