Based on 208 hedge funds · latest filing: 2025 Q4 · updated quarterly
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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.
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High ownership — 83% of 3.0Y peak
83% of all-time peak
208 funds currently hold this stock — 83% of the 3.0-year high of 250 funds (reached 2024 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 8% fewer funds vs a year ago
fund count last 6Q
18 fewer hedge funds hold this stock compared to a year ago (-8% decline). When institutions consistently reduce exposure, it's worth asking what they know that retail investors don't.
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More sellers than buyers — 41% buying
91 buying132 selling
Last quarter: 132 funds reduced or exited vs 91 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 (-10 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 36 → 40 → 34 → 24. 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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61% of holders stayed for 2+ years
■ 61% conviction (2yr+)
■ 26% medium
■ 13% new
126 out of 208 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.
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Peak discovery — momentum slowing
45 → 36 → 40 → 34 → 24 new funds/Q
New funds entering each quarter: 36 → 40 → 34 → 24. 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.
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Deep conviction — 70% of holders stayed 2+ years
■ 70% veterans
■ 13% 1-2yr
■ 17% new
Of 217 current holders: 152 (70%) 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.
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Smaller funds dominant — 17% top-100 AUM
17% from top-100 AUM funds
Only 36 of 208 current holders rank in the top 100 by AUM. The stock is held mostly by smaller and mid-sized funds — the largest institutional players haven't yet built significant positions.
Exit risk score 2.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.