Based on 113 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 3 quarters in a row
For 3 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.
📊
High ownership — 85% of 3.0Y peak
85% of all-time peak
113 funds currently hold this stock — 85% of the 3.0-year high of 133 funds (reached 2023 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉
Outflows — 13% fewer funds vs a year ago
fund count last 6Q
17 fewer hedge funds hold this stock compared to a year ago (-13% decline). When institutions consistently reduce exposure, it's worth asking what they know that retail investors don't.
🟠
More sellers than buyers — 46% buying
53 buying63 selling
Last quarter: 63 funds reduced or exited vs 53 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.
➡️
Steady new buyers — ~16 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 23 → 15 → 13 → 16. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
71% of holders stayed for 2+ years
■ 71% conviction (2yr+)
■ 17% medium
■ 12% new
80 out of 113 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.
📊
Peak discovery — momentum slowing
31 → 23 → 15 → 13 → 16 new funds/Q
New funds entering each quarter: 23 → 15 → 13 → 16. The stock is well-known in the hedge fund world but new entries are declining. The easy phase of institutional discovery may be behind us.
🏛️
Deep conviction — 76% of holders stayed 2+ years
■ 76% veterans
■ 7% 1-2yr
■ 17% new
Of 114 current holders: 87 (76%) 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 — 23% from major AUM funds
23% from top-100 AUM funds
26 of 113 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 2.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.