Based on 198 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 11 quarters in a row
For 11 consecutive quarters, more hedge funds added SGHC 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
198 hedge funds hold SGHC right now — the highest count in 3.0 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 — +64% more funds vs a year ago
fund count last 6Q
+77 new funds entered over the past year (+64% 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.
🟡
Slight buying edge — 55% buying
120 buying98 selling
Last quarter: 120 funds bought or added vs 98 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.
⚠️
Fewer new buyers each quarter (-9 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 42 → 35 → 52 → 43. 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.
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Mixed — 30% long-term, 36% new
■ 30% conviction (2yr+)
■ 34% medium
■ 36% new
Of the 198 current holders: 59 (30%) held >2 years, 67 held 1–2 years, and 72 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.
📈
Growing discovery — still being found
37 → 42 → 35 → 52 → 43 new funds/Q
New funds entering each quarter: 42 → 35 → 52 → 43. A growing number of institutions are discovering SGHC each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Mixed cohorts — 37% veterans, 52% new entrants
■ 37% veterans
■ 11% 1-2yr
■ 52% new
Of 211 current holders: 79 (37%) held 2+ years, 23 held 1–2 years, 109 (52%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 32% AUM from major funds
32% from top-100 AUM funds
30 of 198 holders rank in the top 100 by AUM, accounting for 32% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.6
out of 10
Moderate Exit Risk
Exit risk score 4.6/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.