Based on 6 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added SEF 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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Below peak — only 30% of 3.0Y high
30% of all-time peak
Only 6 funds hold SEF today versus a peak of 20 funds at 2023 Q2 — just 30% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
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Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding SEF is almost the same as a year ago (+0 funds, +0% change). No significant rush to buy or sell — institutional backing is holding steady.
🟢
More buyers than sellers — 71% buying
5 buying2 selling
Last quarter: 5 funds were net buyers (3 opened a brand new position + 2 added to an existing one). Only 2 were sellers (0 trimmed + 2 sold completely). A clear majority buying is a strong confirmation signal.
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Steady new buyers — ~3 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 2 → 1 → 3. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
67% of holders stayed for 2+ years
■ 67% conviction (2yr+)
■ 0% medium
■ 33% new
4 out of 6 hedge funds have held SEF 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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Value +355% but shares only +310% — price-driven
Last quarter: the total dollar value of institutional holdings rose +355%, but actual share count only changed +310%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
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Steady discovery — ~3 new funds/quarter
1 → 2 → 2 → 1 → 3 new funds/Q
New funds entering each quarter: 2 → 2 → 1 → 3. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Veteran-anchored — 67% veterans vs 33% newcomers
■ 67% veterans
■ 0% 1-2yr
■ 33% new
Entry-cohort mix of 6 holders: 4 (67%) are 2+ year veterans, 0 entered 1–2 years ago, and 2 (33%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 57% AUM from top-100 funds
57% from top-100 AUM funds
3 of 5 holders are among the 100 largest funds by AUM, controlling 57% of total institutional value in SEF. 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 1.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.