Based on 74 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their SCLX positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 82% of 3.0Y peak
82% of all-time peak
74 funds currently hold this stock — 82% of the 3.0-year high of 90 funds (reached 2024 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉
Outflows — 17% fewer funds vs a year ago
fund count last 6Q
15 fewer hedge funds hold SCLX compared to a year ago (-17% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠
More sellers than buyers — 46% buying
24 buying28 selling
Last quarter: 28 funds reduced or exited vs 24 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 (-16 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 6 → 31 → 27 → 11. 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.
📌
Mixed — 28% long-term, 50% new
■ 28% conviction (2yr+)
■ 22% medium
■ 50% new
Of the 74 current holders: 21 (28%) held >2 years, 16 held 1–2 years, and 37 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
💎
Buying through price weakness — shares +47%, value -8%
Last quarter: funds added +47% more shares while total portfolio value only changed -8%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~11 new funds/quarter
13 → 6 → 31 → 27 → 11 new funds/Q
New funds entering each quarter: 6 → 31 → 27 → 11. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 35% veterans, 50% new entrants
■ 35% veterans
■ 15% 1-2yr
■ 50% new
Of 74 current holders: 26 (35%) held 2+ years, 11 held 1–2 years, 37 (50%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 35% AUM from major funds
35% from top-100 AUM funds
13 of 74 holders rank in the top 100 by AUM, accounting for 35% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.