Based on 125 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added SLDB 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
125 hedge funds hold SLDB 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 — +45% more funds vs a year ago
fund count last 6Q
+39 new funds entered over the past year (+45% 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.
🟠
More sellers than buyers — 48% buying
56 buying60 selling
Last quarter: 60 funds reduced or exited vs 56 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.
⚠️
Fewer new buyers each quarter (-11 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 51 → 24 → 26 → 15. 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 — 26% long-term, 24% new
■ 26% conviction (2yr+)
■ 50% medium
■ 24% new
Of the 125 current holders: 33 (26%) held >2 years, 62 held 1–2 years, and 30 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.
📊
Peak discovery — momentum slowing
13 → 51 → 24 → 26 → 15 new funds/Q
New funds entering each quarter: 51 → 24 → 26 → 15. SLDB is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
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Mixed cohorts — 30% veterans, 38% new entrants
■ 30% veterans
■ 32% 1-2yr
■ 38% new
Of 129 current holders: 39 (30%) held 2+ years, 41 held 1–2 years, 49 (38%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
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Smaller funds dominant — 18% AUM from top-100
18% from top-100 AUM funds
28 of 125 holders rank in the top 100 by AUM, but together hold only 18% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
4.0
out of 10
Moderate Exit Risk
Exit risk score 4.0/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.