Based on 166 hedge funds · latest filing: 2016 Q3 · updated quarterly
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Selling streak — 2 quarters in a row
For 2 consecutive quarters, 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.
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High ownership — 82% of 3.0Y peak
82% of all-time peak
166 funds currently hold this stock — 82% of the 3.0-year high of 203 funds (reached 2014 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding this stock is almost the same as a year ago (+5 funds, +3% change). No significant rush to buy or sell — the institutional base is holding steady.
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Slight buying edge — 53% buying
93 buying82 selling
Last quarter: 93 funds bought or added vs 82 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.
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Fewer new buyers each quarter (-17 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 24 → 25 → 36 → 19. 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.
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Growing discovery — still being found
20 → 24 → 25 → 36 → 19 new funds/Q
New funds entering each quarter: 24 → 25 → 36 → 19. A growing number of institutions are discovering this stock each quarter. The idea is still spreading — there is room for more buyers to enter.
Exit risk score 2.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.