Based on 15 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added SDST 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.
📊
High ownership — 75% of 1.5Y peak
75% of all-time peak
15 funds currently hold this stock — 75% of the 1.5-year high of 20 funds (reached 2025 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +7% more funds vs a year ago
fund count last 6Q
+1 new funds entered over the past year (+7% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction. The peak was reached in just 3 quarters from the low — a sharp move.
🟢
More buyers than sellers — 75% buying
9 buying3 selling
Last quarter: 9 funds were net buyers (4 opened a brand new position + 5 added to an existing one). Only 3 were sellers (1 trimmed + 2 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~4 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 8 → 6 → 3 → 4. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 33% entered in last year
■ 0% conviction (2yr+)
■ 67% medium
■ 33% new
Only 0 funds (0%) 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
3 → 8 → 6 → 3 → 4 new funds/Q
New funds entering each quarter: 8 → 6 → 3 → 4. 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 — 0% veterans, 40% new entrants
■ 0% veterans
■ 60% 1-2yr
■ 40% new
Of 15 current holders: 0 (0%) held 2+ years, 9 held 1–2 years, 6 (40%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆
Elite ownership — 90% AUM from top-100 funds
90% from top-100 AUM funds
6 of 15 holders are among the 100 largest funds by AUM, controlling 90% of total institutional value in SDST. 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 2.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.