Based on 37 hedge funds · latest filing: 2026 Q2 · updated quarterly
📉
Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their QMNV positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 92% of 1.8Y peak
92% of all-time peak
37 funds currently hold this stock — 92% of the 1.8-year high of 40 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🚀
Fast accumulation — +37% more funds vs a year ago
fund count last 6Q
+10 new funds entered over the past year (+37% 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. The peak was reached in just 4 quarters from the low — a sharp move.
🔴
Heavy selling pressure — only 30% buying
9 buying21 selling
Last quarter: 21 funds sold vs only 9 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~4 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 4 → 16 → 2 → 4. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 43% entered in last year
■ 0% conviction (2yr+)
■ 57% medium
■ 43% new
Only 0 funds (0%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
💰
Value +33% but shares only +17% — price-driven
Last quarter: the total dollar value of institutional holdings rose +33%, but actual share count only changed +17%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
⚠️
Saturation — most institutions already know this story
3 → 4 → 16 → 2 → 4 new funds/Q
New funds entering each quarter: 4 → 16 → 2 → 4. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
📊
Mixed cohorts — 0% veterans, 43% new entrants
■ 0% veterans
■ 57% 1-2yr
■ 43% new
Of 37 current holders: 0 (0%) held 2+ years, 21 held 1–2 years, 16 (43%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 21% AUM from major funds
21% from top-100 AUM funds
3 of 37 holders rank in the top 100 by AUM, accounting for 21% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
5.1
out of 10
Moderate Exit Risk
Exit risk score 5.1/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.