Based on 16 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added QQQD 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
16 hedge funds hold QQQD right now — the highest count in 2.2 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 — +700% more funds vs a year ago
fund count last 6Q
+14 new funds entered over the past year (+700% 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 — 81% buying
13 buying3 selling
Last quarter: 13 funds were net buyers (12 opened a brand new position + 1 added to an existing one). Only 3 were sellers (2 trimmed + 1 sold completely). A clear majority buying is a strong confirmation signal.
📈
More new buyers each quarter (+9 vs last Q)
new funds entering per quarter
Funds opening a new QQQD position: 3 → 3 → 3 → 12. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔄
Mostly new holders — 75% entered in last year
■ 0% conviction (2yr+)
■ 25% medium
■ 75% 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 +200% but shares only +164% — price-driven
Last quarter: the total dollar value of institutional holdings rose +200%, but actual share count only changed +164%. 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.
📈
Growing discovery — still being found
2 → 3 → 3 → 3 → 12 new funds/Q
New funds entering each quarter: 3 → 3 → 3 → 12. A growing number of institutions are discovering QQQD each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🌱
Early stage — 75% of holders entered in last year
■ 0% veterans
■ 25% 1-2yr
■ 75% new
Of 16 current holders: 12 (75%) entered in the past year, only 0 (0%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
✅
Strong quality — 20% AUM from major funds
20% from top-100 AUM funds
8 of 16 holders rank in the top 100 by AUM, accounting for 20% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
6.9
out of 10
Moderate Exit Risk
Exit risk score 6.9/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.