Based on 49 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 — 72% of 3.0Y peak
72% of all-time peak
49 funds currently hold this stock — 72% of the 3.0-year high of 68 funds (reached 2025 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 27% fewer funds vs a year ago
fund count last 6Q
18 fewer hedge funds hold this stock compared to a year ago (-27% decline). When institutions consistently reduce exposure, it's worth asking what they know that retail investors don't.
🟠
More sellers than buyers — 46% buying
22 buying26 selling
Last quarter: 26 funds reduced or exited vs 22 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 — ~10 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 10 → 12 → 10 → 10. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 29% entered in last year
■ 6% conviction (2yr+)
■ 65% medium
■ 29% new
Only 3 funds (6%) 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 +14%, value -99%
Last quarter: funds added +14% more shares while total portfolio value only changed -99%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~10 new funds/quarter
21 → 10 → 12 → 10 → 10 new funds/Q
New funds entering each quarter: 10 → 12 → 10 → 10. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 6% veterans, 37% new entrants
■ 6% veterans
■ 57% 1-2yr
■ 37% new
Of 49 current holders: 3 (6%) held 2+ years, 28 held 1–2 years, 18 (37%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 24% from major AUM funds
24% from top-100 AUM funds
12 of 49 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 2.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.