Based on 743 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 8 quarters in a row
For 8 consecutive quarters, more hedge funds added OHI than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
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At the ownership peak (100% of max)
100% of all-time peak
743 hedge funds hold OHI right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
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Steady growth — +20% more funds vs a year ago
fund count last 6Q
+122 new funds entered over the past year (+20% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
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Slight buying edge — 58% buying
414 buying299 selling
Last quarter: 414 funds bought or added vs 299 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 (-22 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 84 → 99 → 118 → 96. 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+)
■ 21% medium
■ 18% new
451 out of 743 hedge funds have held OHI for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
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Growing discovery — still being found
76 → 84 → 99 → 118 → 96 new funds/Q
New funds entering each quarter: 84 → 99 → 118 → 96. A growing number of institutions are discovering OHI each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 65% veterans vs 21% newcomers
■ 65% veterans
■ 13% 1-2yr
■ 21% new
Entry-cohort mix of 755 holders: 494 (65%) are 2+ year veterans, 100 entered 1–2 years ago, and 161 (21%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Strong quality — 37% AUM from major funds
37% from top-100 AUM funds
57 of 737 holders rank in the top 100 by AUM, accounting for 37% 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.