Based on 41 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed this position than added to it. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams deciding to exit.
📊
High ownership — 82% of 2.8Y peak
82% of all-time peak
41 funds currently hold this stock — 82% of the 2.8-year high of 50 funds (reached 2025 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +11% more funds vs a year ago
fund count last 6Q
+4 new funds entered over the past year (+11% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟠
More sellers than buyers — 44% buying
22 buying28 selling
Last quarter: 28 funds reduced or exited vs 22 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.
📈
More new buyers each quarter (+8 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 16 → 8 → 3 → 11. A growing number of new institutional buyers means the stock is still being discovered — the opportunity hasn't been fully priced in.
🔄
Mostly new holders — 29% entered in last year
■ 20% conviction (2yr+)
■ 51% medium
■ 29% new
Only 8 funds (20%) 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.
⚠️
Saturation — most institutions already know this story
10 → 16 → 8 → 3 → 11 new funds/Q
New funds entering each quarter: 16 → 8 → 3 → 11. 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 — 15% veterans, 44% new entrants
■ 15% veterans
■ 41% 1-2yr
■ 44% new
Of 41 current holders: 6 (15%) held 2+ years, 17 held 1–2 years, 18 (44%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 22% from major AUM funds
22% from top-100 AUM funds
9 of 41 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 3.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.