Based on 138 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 their OPFI positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 93% of 3.0Y peak
93% of all-time peak
138 funds currently hold this stock — 93% of the 3.0-year high of 148 funds (reached 2025 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🚀
Fast accumulation — +31% more funds vs a year ago
fund count last 6Q
+33 new funds entered over the past year (+31% 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.
🟡
Slight buying edge — 50% buying
75 buying76 selling
Last quarter: 75 funds bought or added vs 76 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.
⚠️
Fewer new buyers each quarter (-12 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 51 → 36 → 33 → 21. 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 — 28% long-term, 33% new
■ 28% conviction (2yr+)
■ 40% medium
■ 33% new
Of the 138 current holders: 38 (28%) held >2 years, 55 held 1–2 years, and 45 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
32 → 51 → 36 → 33 → 21 new funds/Q
New funds entering each quarter: 51 → 36 → 33 → 21. OPFI is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
📊
Mixed cohorts — 30% veterans, 50% new entrants
■ 30% veterans
■ 19% 1-2yr
■ 50% new
Of 145 current holders: 44 (30%) held 2+ years, 28 held 1–2 years, 73 (50%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆
Elite ownership — 47% AUM from top-100 funds
47% from top-100 AUM funds
31 of 138 holders are among the 100 largest funds by AUM, controlling 47% of total institutional value in OPFI. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 3.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.