Based on 39 hedge funds · latest filing: 2025 Q4 · updated quarterly
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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.
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High ownership — 71% of 3.0Y peak
71% of all-time peak
39 funds currently hold this stock — 71% of the 3.0-year high of 55 funds (reached 2023 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 15% fewer funds vs a year ago
fund count last 6Q
7 fewer hedge funds hold this stock compared to a year ago (-15% decline). When institutions consistently reduce exposure, it's worth asking what they know that retail investors don't.
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Slight buying edge — 52% buying
22 buying20 selling
Last quarter: 22 funds bought or added vs 20 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.
➡️
Steady new buyers — ~4 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 7 → 7 → 7 → 4. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
79% of holders stayed for 2+ years
■ 79% conviction (2yr+)
■ 10% medium
■ 10% new
31 out of 39 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.
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Peak discovery — momentum slowing
7 → 7 → 7 → 7 → 4 new funds/Q
New funds entering each quarter: 7 → 7 → 7 → 4. The stock is well-known in the hedge fund world but new entries are declining. The easy phase of institutional discovery may be behind us.
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Deep conviction — 82% of holders stayed 2+ years
■ 82% veterans
■ 8% 1-2yr
■ 10% new
Of 39 current holders: 32 (82%) 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.
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Smaller funds dominant — 18% top-100 AUM
18% from top-100 AUM funds
Only 7 of 39 current holders rank in the top 100 by AUM. The stock is held mostly by smaller and mid-sized funds — the largest institutional players haven't yet built significant positions.
Exit risk score 1.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.