Based on 50 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added OPAD 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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High ownership — 91% of 3.0Y peak
91% of all-time peak
50 funds currently hold this stock — 91% of the 3.0-year high of 55 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 — 6% fewer funds vs a year ago
fund count last 6Q
3 fewer hedge funds hold OPAD compared to a year ago (-6% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More buyers than sellers — 65% buying
32 buying17 selling
Last quarter: 32 funds were net buyers (18 opened a brand new position + 14 added to an existing one). Only 17 were sellers (11 trimmed + 6 sold completely). A clear majority buying is a strong confirmation signal.
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More new buyers each quarter (+10 vs last Q)
new funds entering per quarter
Funds opening a new OPAD position: 6 → 6 → 8 → 18. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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44% of holders stayed for 2+ years
■ 44% conviction (2yr+)
■ 22% medium
■ 34% new
22 out of 50 hedge funds have held OPAD 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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Buying through price weakness — shares -0%, value -71%
Last quarter: funds added -0% more shares while total portfolio value only changed -71%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Acceleration phase — new buyers rushing in
8 → 6 → 6 → 8 → 18 new funds/Q
New funds entering each quarter: 6 → 6 → 8 → 18. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
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Deep conviction — 52% of holders stayed 2+ years
■ 52% veterans
■ 15% 1-2yr
■ 33% new
Of 54 current holders: 28 (52%) 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 — 11% AUM from top-100
11% from top-100 AUM funds
15 of 50 holders rank in the top 100 by AUM, but together hold only 11% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.