Based on 59 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 5 quarters in a row
For 5 consecutive quarters, more hedge funds added ONCY 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
59 hedge funds hold ONCY 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.
🚀
Fast accumulation — +37% more funds vs a year ago
fund count last 6Q
+16 new funds entered over the past year (+37% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟢
More buyers than sellers — 62% buying
21 buying13 selling
Last quarter: 21 funds were net buyers (12 opened a brand new position + 9 added to an existing one). Only 13 were sellers (5 trimmed + 8 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~12 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 9 → 11 → 9 → 12. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
44% of holders stayed for 2+ years
■ 44% conviction (2yr+)
■ 31% medium
■ 25% new
26 out of 59 hedge funds have held ONCY 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.
💎
Buying through price weakness — shares -1%, value -35%
Last quarter: funds added -1% more shares while total portfolio value only changed -35%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~12 new funds/quarter
9 → 9 → 11 → 9 → 12 new funds/Q
New funds entering each quarter: 9 → 11 → 9 → 12. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 47% of holders stayed 2+ years
■ 47% veterans
■ 17% 1-2yr
■ 36% new
Of 59 current holders: 28 (47%) 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 — 34% AUM from major funds
34% from top-100 AUM funds
12 of 59 holders rank in the top 100 by AUM, accounting for 34% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.0
out of 10
Moderate Exit Risk
Exit risk score 4.0/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.