Based on 159 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 SBGI 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 — 91% of 3.0Y peak
91% of all-time peak
159 funds currently hold this stock — 91% of the 3.0-year high of 175 funds (reached 2025 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 5% fewer funds vs a year ago
fund count last 6Q
9 fewer hedge funds hold SBGI compared to a year ago (-5% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Slight buying edge — 51% buying
86 buying82 selling
Last quarter: 86 funds bought or added vs 82 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
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Steady new buyers — ~30 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 26 → 22 → 27 → 30. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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66% of holders stayed for 2+ years
■ 66% conviction (2yr+)
■ 20% medium
■ 14% new
105 out of 159 hedge funds have held SBGI 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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Growing discovery — still being found
29 → 26 → 22 → 27 → 30 new funds/Q
New funds entering each quarter: 26 → 22 → 27 → 30. A growing number of institutions are discovering SBGI each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Deep conviction — 75% of holders stayed 2+ years
■ 75% veterans
■ 10% 1-2yr
■ 16% new
Of 167 current holders: 125 (75%) 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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Elite ownership — 42% AUM from top-100 funds
42% from top-100 AUM funds
32 of 159 holders are among the 100 largest funds by AUM, controlling 42% of total institutional value in SBGI. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 2.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.