Based on 13 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their SBIT positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
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High ownership — 87% of 2.2Y peak
87% of all-time peak
13 funds currently hold this stock — 87% of the 2.2-year high of 15 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 — 13% fewer funds vs a year ago
fund count last 6Q
2 fewer hedge funds hold SBIT 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 sellers than buyers — 41% buying
7 buying10 selling
Last quarter: 10 funds reduced or exited vs 7 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.
⚠️
Fewer new buyers each quarter (-7 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 3 → 5 → 9 → 2. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
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Mostly new holders — 31% entered in last year
■ 15% conviction (2yr+)
■ 54% medium
■ 31% new
Only 2 funds (15%) 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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Steady discovery — ~2 new funds/quarter
6 → 3 → 5 → 9 → 2 new funds/Q
New funds entering each quarter: 3 → 5 → 9 → 2. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Mixed cohorts — 6% veterans, 33% new entrants
■ 6% veterans
■ 61% 1-2yr
■ 33% new
Of 18 current holders: 1 (6%) held 2+ years, 11 held 1–2 years, 6 (33%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆
Elite ownership — 80% AUM from top-100 funds
80% from top-100 AUM funds
4 of 12 holders are among the 100 largest funds by AUM, controlling 80% of total institutional value in SBIT. 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 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.