Based on 21 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their LOCL 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 — 78% of 3.0Y peak
78% of all-time peak
21 funds currently hold this stock — 78% of the 3.0-year high of 27 funds (reached 2023 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +11% more funds vs a year ago
fund count last 6Q
+2 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.
🔴
Heavy selling pressure — only 38% buying
5 buying8 selling
Last quarter: 8 funds sold vs only 5 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~3 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 1 → 7 → 5 → 3. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 38% long-term, 33% new
■ 38% conviction (2yr+)
■ 29% medium
■ 33% new
Of the 21 current holders: 8 (38%) held >2 years, 6 held 1–2 years, and 7 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 -37%, value -54%
Last quarter: funds added -37% more shares while total portfolio value only changed -54%. 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
1 → 1 → 7 → 5 → 3 new funds/Q
New funds entering each quarter: 1 → 7 → 5 → 3. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 43% of holders stayed 2+ years
■ 43% veterans
■ 19% 1-2yr
■ 38% new
Of 21 current holders: 9 (43%) 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 — 30% AUM from major funds
30% from top-100 AUM funds
8 of 21 holders rank in the top 100 by AUM, accounting for 30% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.