Based on 53 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 SEPW positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️
At the ownership peak (98% of max)
98% of all-time peak
53 hedge funds hold SEPW right now — the highest count in 2.5 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
🚀
Fast accumulation — +43% more funds vs a year ago
fund count last 6Q
+16 new funds entered over the past year (+43% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🔴
Heavy selling pressure — only 38% buying
20 buying33 selling
Last quarter: 33 funds sold vs only 20 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
⚠️
Fewer new buyers each quarter (-17 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 3 → 7 → 24 → 7. 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.
🔄
Mostly new holders — 43% entered in last year
■ 19% conviction (2yr+)
■ 38% medium
■ 43% new
Only 10 funds (19%) 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.
➡️
Steady discovery — ~7 new funds/quarter
7 → 3 → 7 → 24 → 7 new funds/Q
New funds entering each quarter: 3 → 7 → 24 → 7. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 19% veterans, 38% new entrants
■ 19% veterans
■ 43% 1-2yr
■ 38% new
Of 53 current holders: 10 (19%) held 2+ years, 23 held 1–2 years, 20 (38%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
📋
Smaller funds dominant — 2% AUM from top-100
2% from top-100 AUM funds
3 of 53 holders rank in the top 100 by AUM, but together hold only 2% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
5.4
out of 10
Moderate Exit Risk
Exit risk score 5.4/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.