Based on 24 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their QSEA positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️
At the ownership peak (96% of max)
96% of all-time peak
24 hedge funds hold QSEA 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 — +2300% more funds vs a year ago
fund count last 6Q
+23 new funds entered over the past year (+2300% 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 — 60% buying
6 buying4 selling
Last quarter: 6 funds were net buyers (0 opened a brand new position + 6 added to an existing one). Only 4 were sellers (3 trimmed + 1 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~0 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 0 → 23 → 3 → 0. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 88% entered in last year
■ 4% conviction (2yr+)
■ 8% medium
■ 88% new
Only 1 funds (4%) 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.
💎
Buying through price weakness — shares -30%, value -99%
Last quarter: funds added -30% more shares while total portfolio value only changed -99%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
⚠️
Saturation — most institutions already know this story
0 → 0 → 23 → 3 → 0 new funds/Q
New funds entering each quarter: 0 → 23 → 3 → 0. 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.
🌱
Early stage — 88% of holders entered in last year
■ 12% veterans
■ 0% 1-2yr
■ 88% new
Of 24 current holders: 21 (88%) entered in the past year, only 3 (12%) 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.
📋
Smaller funds dominant — 9% AUM from top-100
9% from top-100 AUM funds
4 of 24 holders rank in the top 100 by AUM, but together hold only 9% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 7.0/10 — multiple crowding signals converge. Institutional ownership is at 96% of its all-time high — near peak crowding. Crowded trades can unwind fast — a single catalyst can trigger a cascade.