Based on 18 hedge funds · latest filing: 2026 Q2 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added OPTXW 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.
🔻
Below peak — only 58% of 3.0Y high
58% of all-time peak
Only 18 funds hold OPTXW today versus a peak of 31 funds at 2023 Q4 — just 58% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
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Outflows — 5% fewer funds vs a year ago
fund count last 6Q
1 fewer hedge funds hold OPTXW compared to a year ago (-5% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟢
More buyers than sellers — 62% buying
8 buying5 selling
Last quarter: 8 funds were net buyers (5 opened a brand new position + 3 added to an existing one). Only 5 were sellers (3 trimmed + 2 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~5 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 3 → 1 → 4 → 5. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
50% of holders stayed for 2+ years
■ 50% conviction (2yr+)
■ 11% medium
■ 39% new
9 out of 18 hedge funds have held OPTXW 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.
💰
Value +169% but shares only +14% — price-driven
Last quarter: the total dollar value of institutional holdings rose +169%, but actual share count only changed +14%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
➡️
Steady discovery — ~5 new funds/quarter
1 → 3 → 1 → 4 → 5 new funds/Q
New funds entering each quarter: 3 → 1 → 4 → 5. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 50% veterans vs 44% newcomers
■ 50% veterans
■ 6% 1-2yr
■ 44% new
Entry-cohort mix of 18 holders: 9 (50%) are 2+ year veterans, 1 entered 1–2 years ago, and 8 (44%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Smaller funds dominant — 2% AUM from top-100
2% from top-100 AUM funds
2 of 17 holders rank in the top 100 by AUM, but together hold only 2% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 1.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.