Based on 94 hedge funds · latest filing: 2020 Q4 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their OSB 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 — 91% of 3.0Y peak
91% of all-time peak
94 funds currently hold this stock — 91% of the 3.0-year high of 103 funds (reached 2018 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +4% more funds vs a year ago
fund count last 6Q
+4 new funds entered over the past year (+4% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟠
More sellers than buyers — 43% buying
50 buying67 selling
Last quarter: 67 funds reduced or exited vs 50 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.
➡️
Steady new buyers — ~25 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 14 → 15 → 29 → 25. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
💰
Value +44% but shares only +1% — price-driven
Last quarter: the total dollar value of institutional holdings rose +44%, but actual share count only changed +1%. 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.
🚀
Acceleration phase — new buyers rushing in
20 → 14 → 15 → 29 → 25 new funds/Q
New funds entering each quarter: 14 → 15 → 29 → 25. 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.
Exit risk score 3.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.