Based on 243 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 — 94% of 3.0Y peak
94% of all-time peak
243 funds currently hold this stock — 94% of the 3.0-year high of 259 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 — 6% fewer funds vs a year ago
fund count last 6Q
16 fewer hedge funds hold this stock compared to a year ago (-6% decline). When institutions consistently reduce exposure, it's worth asking what they know that retail investors don't.
🟠
More sellers than buyers — 48% buying
114 buying124 selling
Last quarter: 124 funds reduced or exited vs 114 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
⚠️
Fewer new buyers each quarter (-17 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 24 → 25 → 40 → 23. 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.
🔒
64% of holders stayed for 2+ years
■ 64% conviction (2yr+)
■ 21% medium
■ 14% new
156 out of 243 hedge funds have held this stock for over 2 years without selling. Long-term holders are harder to shake out during market dips — they represent a stable ownership base that reduces the risk of sudden mass selling.
📈
Growing discovery — still being found
30 → 24 → 25 → 40 → 23 new funds/Q
New funds entering each quarter: 24 → 25 → 40 → 23. A growing number of institutions are discovering this stock each quarter. The idea is still spreading — there is room for more buyers to enter.
🏛️
Deep conviction — 67% of holders stayed 2+ years
■ 67% veterans
■ 16% 1-2yr
■ 16% new
Of 244 current holders: 164 (67%) 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 — 29% AUM from major funds
29% from top-100 AUM funds
32 of 243 holders rank in the top 100 by AUM, accounting for 29% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.