Based on 147 hedge funds · latest filing: 2016 Q3 · updated quarterly
📉
Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed this position than added to it. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams deciding to exit.
📊
High ownership — 94% of 3.0Y peak
94% of all-time peak
147 funds currently hold this stock — 94% of the 3.0-year high of 156 funds (reached 2016 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
〰️
Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding this stock is almost the same as a year ago (+1 funds, +1% change). No significant rush to buy or sell — the institutional base is holding steady.
🟠
More sellers than buyers — 49% buying
77 buying81 selling
Last quarter: 81 funds reduced or exited vs 77 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.
📈
More new buyers each quarter (+9 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 18 → 16 → 12 → 21. A growing number of new institutional buyers means the stock is still being discovered — the opportunity hasn't been fully priced in.
🔒
71% of holders stayed for 2+ years
■ 71% conviction (2yr+)
■ 16% medium
■ 14% new
104 out of 147 hedge funds have held this stock for over 2 years without selling. Long-term holders are harder to shake out during market dips — they represent a stable ownership base that reduces the risk of sudden mass selling.
➡️
Steady discovery — ~21 new funds/quarter
17 → 18 → 16 → 12 → 21 new funds/Q
New funds entering each quarter: 18 → 16 → 12 → 21. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 72% of holders stayed 2+ years
■ 72% veterans
■ 9% 1-2yr
■ 19% new
Of 147 current holders: 106 (72%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
✅
Strong quality — 21% from major AUM funds
21% from top-100 AUM funds
31 of 147 current holders rank in the top 100 by AUM. A meaningful share of the ownership base comes from the most well-resourced institutions.
Exit risk score 3.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.