Based on 178 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added QLTA 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
178 hedge funds hold QLTA 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.
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Fast accumulation — +26% more funds vs a year ago
fund count last 6Q
+37 new funds entered over the past year (+26% 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.
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More sellers than buyers — 42% buying
78 buying106 selling
Last quarter: 106 funds reduced or exited vs 78 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.
⚠️
Fewer new buyers each quarter (-15 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 36 → 21 → 41 → 26. 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.
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43% of holders stayed for 2+ years
■ 43% conviction (2yr+)
■ 33% medium
■ 24% new
76 out of 178 hedge funds have held QLTA for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
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Growing discovery — still being found
22 → 36 → 21 → 41 → 26 new funds/Q
New funds entering each quarter: 36 → 21 → 41 → 26. A growing number of institutions are discovering QLTA each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Deep conviction — 48% of holders stayed 2+ years
■ 48% veterans
■ 19% 1-2yr
■ 33% new
Of 178 current holders: 86 (48%) 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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Elite ownership — 41% AUM from top-100 funds
41% from top-100 AUM funds
15 of 178 holders are among the 100 largest funds by AUM, controlling 41% of total institutional value in QLTA. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.3
out of 10
Moderate Exit Risk
Exit risk score 4.3/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.