Based on 58 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 SLND positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 84% of 3.0Y peak
84% of all-time peak
58 funds currently hold this stock — 84% of the 3.0-year high of 69 funds (reached 2026 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉
Outflows — 5% fewer funds vs a year ago
fund count last 6Q
3 fewer hedge funds hold SLND compared to a year ago (-5% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠
More sellers than buyers — 46% buying
33 buying39 selling
Last quarter: 39 funds reduced or exited vs 33 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.
➡️
Steady new buyers — ~13 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 9 → 7 → 17 → 13. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 38% entered in last year
■ 24% conviction (2yr+)
■ 38% medium
■ 38% new
Only 14 funds (24%) 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.
💎
Buying through price weakness — shares -14%, value -58%
Last quarter: funds added -14% more shares while total portfolio value only changed -58%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📈
Growing discovery — still being found
14 → 9 → 7 → 17 → 13 new funds/Q
New funds entering each quarter: 9 → 7 → 17 → 13. A growing number of institutions are discovering SLND each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
📊
Mixed cohorts — 26% veterans, 43% new entrants
■ 26% veterans
■ 31% 1-2yr
■ 43% new
Of 58 current holders: 15 (26%) held 2+ years, 18 held 1–2 years, 25 (43%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
📋
Smaller funds dominant — 17% AUM from top-100
17% from top-100 AUM funds
19 of 58 holders rank in the top 100 by AUM, but together hold only 17% 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.