Based on 69 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds added KPTI 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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Below peak — only 55% of 3.0Y high
55% of all-time peak
Only 69 funds hold KPTI today versus a peak of 125 funds at 2023 Q2 — just 55% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
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Outflows — 18% fewer funds vs a year ago
fund count last 6Q
15 fewer hedge funds hold KPTI compared to a year ago (-18% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More buyers than sellers — 71% buying
46 buying19 selling
Last quarter: 46 funds were net buyers (24 opened a brand new position + 22 added to an existing one). Only 19 were sellers (8 trimmed + 11 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+16 vs last Q)
new funds entering per quarter
Funds opening a new KPTI position: 5 → 11 → 8 → 24. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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65% of holders stayed for 2+ years
■ 65% conviction (2yr+)
■ 22% medium
■ 13% new
45 out of 69 hedge funds have held KPTI 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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Buying through price weakness — shares +169%, value +28%
Last quarter: funds added +169% more shares while total portfolio value only changed +28%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Acceleration phase — new buyers rushing in
11 → 5 → 11 → 8 → 24 new funds/Q
New funds entering each quarter: 5 → 11 → 8 → 24. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
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Deep conviction — 75% of holders stayed 2+ years
■ 75% veterans
■ 8% 1-2yr
■ 17% new
Of 75 current holders: 56 (75%) 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 — 85% AUM from top-100 funds
85% from top-100 AUM funds
15 of 69 holders are among the 100 largest funds by AUM, controlling 85% of total institutional value in KPTI. 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 1.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.