Based on 94 hedge funds · latest filing: 2017 Q3 · updated quarterly
📉
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.
📊
High ownership — 88% of 3.0Y peak
88% of all-time peak
94 funds currently hold this stock — 88% of the 3.0-year high of 107 funds (reached 2016 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉
Outflows — 12% fewer funds vs a year ago
fund count last 6Q
13 fewer hedge funds hold this stock compared to a year ago (-12% decline). When institutions consistently reduce exposure, it's worth asking what they know that retail investors don't.
🟠
More sellers than buyers — 47% buying
44 buying50 selling
Last quarter: 50 funds reduced or exited vs 44 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 — ~9 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 7 → 17 → 14 → 9. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
74% of holders stayed for 2+ years
■ 74% conviction (2yr+)
■ 15% medium
■ 11% new
70 out of 94 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.
➡️
Steady discovery — ~9 new funds/quarter
18 → 7 → 17 → 14 → 9 new funds/Q
New funds entering each quarter: 7 → 17 → 14 → 9. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 80% of holders stayed 2+ years
■ 80% veterans
■ 6% 1-2yr
■ 14% new
Of 95 current holders: 76 (80%) 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 — 26% from major AUM funds
26% from top-100 AUM funds
24 of 94 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.