Based on 180 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their OS positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️
At the ownership peak (97% of max)
97% of all-time peak
180 hedge funds hold OS 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 — +29% more funds vs a year ago
fund count last 6Q
+40 new funds entered over the past year (+29% 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 — 51% buying
133 buying126 selling
Last quarter: 133 funds bought or added vs 126 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.
📈
More new buyers each quarter (+43 vs last Q)
new funds entering per quarter
Funds opening a new OS position: 65 → 52 → 40 → 83. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
💰
Value +42% but shares only +25% — price-driven
Last quarter: the total dollar value of institutional holdings rose +42%, but actual share count only changed +25%. 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 — ~83 new funds/quarter
31 → 65 → 52 → 40 → 83 new funds/Q
New funds entering each quarter: 65 → 52 → 40 → 83. Consistent flow of new institutional buyers without clear acceleration or slowdown.
Exit risk score 3.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.