Based on 122 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 2 quarters in a row
For 2 consecutive quarters, 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 — 90% of 3.0Y peak
90% of all-time peak
122 funds currently hold this stock — 90% of the 3.0-year high of 135 funds (reached 2025 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🚀
Fast accumulation — +28% more funds vs a year ago
fund count last 6Q
+27 new funds entered over the past year (+28% 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 sellers than buyers — 47% buying
63 buying72 selling
Last quarter: 72 funds reduced or exited vs 63 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 (-13 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 46 → 35 → 30 → 17. 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.
📌
Mixed — 26% long-term, 32% new
■ 26% conviction (2yr+)
■ 42% medium
■ 32% new
Of the 122 current holders: 32 (26%) held >2 years, 51 held 1–2 years, and 39 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
📊
Peak discovery — momentum slowing
28 → 46 → 35 → 30 → 17 new funds/Q
New funds entering each quarter: 46 → 35 → 30 → 17. 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.
📊
Mixed cohorts — 29% veterans, 50% new entrants
■ 29% veterans
■ 21% 1-2yr
■ 50% new
Of 129 current holders: 38 (29%) held 2+ years, 27 held 1–2 years, 64 (50%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 23% from major AUM funds
23% from top-100 AUM funds
28 of 122 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 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.