Based on 424 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 6 quarters in a row
For 6 consecutive quarters, more hedge funds added PL 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
424 hedge funds hold PL 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 — +102% more funds vs a year ago
fund count last 6Q
+214 new funds entered over the past year (+102% 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.
🟢
More buyers than sellers — 61% buying
269 buying173 selling
Last quarter: 269 funds were net buyers (127 opened a brand new position + 142 added to an existing one). Only 173 were sellers (125 trimmed + 48 sold completely). A clear majority buying is a strong confirmation signal.
📈
More new buyers each quarter (+21 vs last Q)
new funds entering per quarter
Funds opening a new PL position: 53 → 75 → 106 → 127. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
📌
Mixed — 35% long-term, 44% new
■ 35% conviction (2yr+)
■ 21% medium
■ 44% new
Of the 424 current holders: 150 (35%) held >2 years, 87 held 1–2 years, and 187 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.
💎
Buying through price weakness — shares +15%, value -7%
Last quarter: funds added +15% more shares while total portfolio value only changed -7%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
🚀
Acceleration phase — new buyers rushing in
45 → 53 → 75 → 106 → 127 new funds/Q
New funds entering each quarter: 53 → 75 → 106 → 127. 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.
🏛️
Veteran-anchored — 47% veterans vs 47% newcomers
■ 47% veterans
■ 7% 1-2yr
■ 47% new
Entry-cohort mix of 457 holders: 213 (47%) are 2+ year veterans, 31 entered 1–2 years ago, and 213 (47%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 35% AUM from major funds
35% from top-100 AUM funds
56 of 414 holders rank in the top 100 by AUM, accounting for 35% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
5.3
out of 10
Moderate Exit Risk
Exit risk score 5.3/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.