Based on 20 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 SANG 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.
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High ownership — 80% of 3.0Y peak
80% of all-time peak
20 funds currently hold this stock — 80% of the 3.0-year high of 25 funds (reached 2024 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 13% fewer funds vs a year ago
fund count last 6Q
3 fewer hedge funds hold SANG compared to a year ago (-13% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More buyers than sellers — 69% buying
11 buying5 selling
Last quarter: 11 funds were net buyers (2 opened a brand new position + 9 added to an existing one). Only 5 were sellers (4 trimmed + 1 sold completely). A clear majority buying is a strong confirmation signal.
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Steady new buyers — ~2 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 3 → 2 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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60% of holders stayed for 2+ years
■ 60% conviction (2yr+)
■ 35% medium
■ 5% new
12 out of 20 hedge funds have held SANG for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
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Peak discovery — momentum slowing
2 → 2 → 3 → 2 → 2 new funds/Q
New funds entering each quarter: 2 → 3 → 2 → 2. SANG is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
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Deep conviction — 65% of holders stayed 2+ years
■ 65% veterans
■ 20% 1-2yr
■ 15% new
Of 20 current holders: 13 (65%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
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Smaller funds dominant — 5% AUM from top-100
5% from top-100 AUM funds
5 of 20 holders rank in the top 100 by AUM, but together hold only 5% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 2.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.