Based on 191 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 11 quarters in a row
For 11 consecutive quarters, more hedge funds added QDPL 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
191 hedge funds hold QDPL 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 — +48% more funds vs a year ago
fund count last 6Q
+62 new funds entered over the past year (+48% 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 — 62% buying
116 buying72 selling
Last quarter: 116 funds were net buyers (24 opened a brand new position + 92 added to an existing one). Only 72 were sellers (61 trimmed + 11 sold completely). A clear majority buying is a strong confirmation signal.
⚠️
Fewer new buyers each quarter (-14 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 22 → 25 → 38 → 24. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
📌
Mixed — 28% long-term, 34% new
■ 28% conviction (2yr+)
■ 38% medium
■ 34% new
Of the 191 current holders: 54 (28%) held >2 years, 72 held 1–2 years, and 65 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.
📈
Growing discovery — still being found
28 → 22 → 25 → 38 → 24 new funds/Q
New funds entering each quarter: 22 → 25 → 38 → 24. A growing number of institutions are discovering QDPL each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
📊
Mixed cohorts — 24% veterans, 48% new entrants
■ 24% veterans
■ 28% 1-2yr
■ 48% new
Of 191 current holders: 46 (24%) held 2+ years, 54 held 1–2 years, 91 (48%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆
Elite ownership — 48% AUM from top-100 funds
48% from top-100 AUM funds
17 of 191 holders are among the 100 largest funds by AUM, controlling 48% of total institutional value in QDPL. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.5
out of 10
Moderate Exit Risk
Exit risk score 4.5/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.