Based on 55 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added OTLK 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.
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High ownership — 82% of 2.0Y peak
82% of all-time peak
55 funds currently hold this stock — 82% of the 2.0-year high of 67 funds (reached 2024 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 5% fewer funds vs a year ago
fund count last 6Q
3 fewer hedge funds hold OTLK compared to a year ago (-5% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More buyers than sellers — 65% buying
33 buying18 selling
Last quarter: 33 funds were net buyers (11 opened a brand new position + 22 added to an existing one). Only 18 were sellers (9 trimmed + 9 sold completely). A clear majority buying is a strong confirmation signal.
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Steady new buyers — ~11 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 12 → 19 → 10 → 11. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 25% entered in last year
■ 5% conviction (2yr+)
■ 69% medium
■ 25% new
Only 3 funds (5%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
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Value +648% but shares only +135% — price-driven
Last quarter: the total dollar value of institutional holdings rose +648%, but actual share count only changed +135%. 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.
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Peak discovery — momentum slowing
10 → 12 → 19 → 10 → 11 new funds/Q
New funds entering each quarter: 12 → 19 → 10 → 11. OTLK is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
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Mixed cohorts — 0% veterans, 28% new entrants
■ 0% veterans
■ 72% 1-2yr
■ 28% new
Of 60 current holders: 0 (0%) held 2+ years, 43 held 1–2 years, 17 (28%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Elite ownership — 65% AUM from top-100 funds
65% from top-100 AUM funds
17 of 55 holders are among the 100 largest funds by AUM, controlling 65% of total institutional value in OTLK. 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 2.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.