Based on 46 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 SIEB 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
46 hedge funds hold SIEB 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 — +109% more funds vs a year ago
fund count last 6Q
+24 new funds entered over the past year (+109% 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 — 53% buying
20 buying18 selling
Last quarter: 20 funds bought or added vs 18 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.
➡️
Steady new buyers — ~3 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 1 → 27 → 7 → 3. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
59% of holders stayed for 2+ years
■ 59% conviction (2yr+)
■ 17% medium
■ 24% new
27 out of 46 hedge funds have held SIEB 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.
💰
Price up while funds trimmed (+11% value, -8% shares)
Last quarter: total value of institutional SIEB holdings rose +11% even though funds reduced share count by 8%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
⚠️
Saturation — most institutions already know this story
4 → 1 → 27 → 7 → 3 new funds/Q
New funds entering each quarter: 1 → 27 → 7 → 3. 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.
🏛️
Deep conviction — 72% of holders stayed 2+ years
■ 72% veterans
■ 7% 1-2yr
■ 22% new
Of 46 current holders: 33 (72%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
🏆
Elite ownership — 57% AUM from top-100 funds
57% from top-100 AUM funds
20 of 46 holders are among the 100 largest funds by AUM, controlling 57% of total institutional value in SIEB. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
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.