Based on 32 hedge funds · latest filing: 2025 Q4 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added this stock 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 trade.
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High ownership — 80% of 2.5Y peak
80% of all-time peak
32 funds currently hold this stock — 80% of the 2.5-year high of 40 funds (reached 2024 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 20% fewer funds vs a year ago
fund count last 6Q
8 fewer hedge funds hold this stock compared to a year ago (-20% decline). When institutions consistently reduce exposure, it's worth asking what they know that retail investors don't.
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More buyers than sellers — 65% buying
15 buying8 selling
Last quarter: 15 funds were net buyers (8 opened a brand new position + 7 added to an existing one). Only 8 were sellers (6 trimmed + 2 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~8 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 5 → 12 → 5 → 8. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 31% entered in last year
■ 12% conviction (2yr+)
■ 56% medium
■ 31% new
Only 4 funds (12%) 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.
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Buying through price weakness — shares -21%, value -99%
Last quarter: funds added -21% 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.
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Peak discovery — momentum slowing
13 → 5 → 12 → 5 → 8 new funds/Q
New funds entering each quarter: 5 → 12 → 5 → 8. The stock is well-known in the hedge fund world but new entries are declining. The easy phase of institutional discovery may be behind us.
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Mixed cohorts — 12% veterans, 44% new entrants
■ 12% veterans
■ 44% 1-2yr
■ 44% new
Of 32 current holders: 4 (12%) held 2+ years, 14 held 1–2 years, 14 (44%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 34% from major AUM funds
34% from top-100 AUM funds
11 of 32 current holders rank in the top 100 by AUM. A meaningful share of the ownership base comes from the most well-resourced institutions.
Exit risk score 2.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.