Based on 196 hedge funds · latest filing: 2024 Q2 · updated quarterly
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Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their SLCA positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
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At the ownership peak (98% of max)
98% of all-time peak
196 hedge funds hold SLCA 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.
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Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding SLCA is almost the same as a year ago (-1 funds, -1% change). No significant rush to buy or sell — institutional backing is holding steady.
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More sellers than buyers — 49% buying
112 buying116 selling
Last quarter: 116 funds reduced or exited vs 112 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
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More new buyers each quarter (+20 vs last Q)
new funds entering per quarter
Funds opening a new SLCA position: 28 → 36 → 32 → 52. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
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Price up while funds trimmed (+150% value, -7% shares)
Last quarter: total value of institutional SLCA holdings rose +150% even though funds reduced share count by 7%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
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Growing discovery — still being found
30 → 28 → 36 → 32 → 52 new funds/Q
New funds entering each quarter: 28 → 36 → 32 → 52. A growing number of institutions are discovering SLCA each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
Exit risk score 3.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.