Based on 7 hedge funds · latest filing: 2026 Q2 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their SIMA positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 16% of 3.0Y high
16% of all-time peak
Only 7 funds hold SIMA today versus a peak of 45 funds at 2026 Q1 — just 16% 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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Outflows — 84% fewer funds vs a year ago
fund count last 6Q
37 fewer hedge funds hold SIMA compared to a year ago (-84% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🔴
Heavy selling pressure — only 4% buying
2 buying43 selling
Last quarter: 43 funds sold vs only 2 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~2 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 4 → 1 → 6 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Mostly new holders — 43% entered in last year
■ 0% conviction (2yr+)
■ 57% medium
■ 43% new
Only 0 funds (0%) 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 — ~2 new funds/quarter
12 → 4 → 1 → 6 → 2 new funds/Q
New funds entering each quarter: 4 → 1 → 6 → 2. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🌱
Early stage — 71% of holders entered in last year
■ 0% veterans
■ 29% 1-2yr
■ 71% new
Of 7 current holders: 5 (71%) entered in the past year, only 0 (0%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
📋
Smaller funds dominant — 6% AUM from top-100
6% from top-100 AUM funds
2 of 7 holders rank in the top 100 by AUM, but together hold only 6% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.