Based on 17 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed this position than added to it. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams deciding to exit.
📊
High ownership — 85% of 3.0Y peak
85% of all-time peak
17 funds currently hold this stock — 85% of the 3.0-year high of 20 funds (reached 2024 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 15% fewer funds vs a year ago
fund count last 6Q
3 fewer hedge funds hold this stock compared to a year ago (-15% decline). When institutions consistently reduce exposure, it's worth asking what they know that retail investors don't.
🟢
More buyers than sellers — 60% buying
12 buying8 selling
Last quarter: 12 funds were net buyers (3 opened a brand new position + 9 added to an existing one). Only 8 were sellers (4 trimmed + 4 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~3 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 5 → 4 → 5 → 3. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 47% entered in last year
■ 12% conviction (2yr+)
■ 41% medium
■ 47% new
Only 2 funds (12%) 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.
💎
Buying through price weakness — shares -7%, value -23%
Last quarter: funds added -7% more shares while total portfolio value only changed -23%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~3 new funds/quarter
6 → 5 → 4 → 5 → 3 new funds/Q
New funds entering each quarter: 5 → 4 → 5 → 3. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 6% veterans, 44% new entrants
■ 6% veterans
■ 50% 1-2yr
■ 44% new
Of 18 current holders: 1 (6%) held 2+ years, 9 held 1–2 years, 8 (44%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 29% from major AUM funds
29% from top-100 AUM funds
5 of 17 current holders rank in the top 100 by AUM. A meaningful share of the ownership base comes from the most well-resourced institutions.
Exit risk score 3.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.