Based on 636 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 SFM 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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High ownership — 84% of 3.0Y peak
84% of all-time peak
636 funds currently hold this stock — 84% of the 3.0-year high of 753 funds (reached 2025 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 10% fewer funds vs a year ago
fund count last 6Q
68 fewer hedge funds hold SFM compared to a year ago (-10% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Slight buying edge — 53% buying
373 buying335 selling
Last quarter: 373 funds bought or added vs 335 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
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Steady new buyers — ~128 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 117 → 99 → 128 → 128. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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53% of holders stayed for 2+ years
■ 53% conviction (2yr+)
■ 21% medium
■ 26% new
334 out of 636 hedge funds have held SFM 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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Growing discovery — still being found
117 → 117 → 99 → 128 → 128 new funds/Q
New funds entering each quarter: 117 → 99 → 128 → 128. A growing number of institutions are discovering SFM each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 58% veterans vs 29% newcomers
■ 58% veterans
■ 14% 1-2yr
■ 29% new
Entry-cohort mix of 668 holders: 385 (58%) are 2+ year veterans, 91 entered 1–2 years ago, and 192 (29%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 46% AUM from top-100 funds
46% from top-100 AUM funds
59 of 633 holders are among the 100 largest funds by AUM, controlling 46% of total institutional value in SFM. 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 2.9/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.