Based on 235 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 11 quarters in a row
For 11 consecutive quarters, more hedge funds added SLNO 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
235 hedge funds hold SLNO 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 — +49% more funds vs a year ago
fund count last 6Q
+77 new funds entered over the past year (+49% 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 — 56% buying
164 buying128 selling
Last quarter: 164 funds bought or added vs 128 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.
📈
More new buyers each quarter (+6 vs last Q)
new funds entering per quarter
Funds opening a new SLNO position: 69 → 51 → 55 → 61. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
📌
Mixed — 32% long-term, 37% new
■ 32% conviction (2yr+)
■ 31% medium
■ 37% new
Of the 235 current holders: 75 (32%) held >2 years, 72 held 1–2 years, and 88 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.
💎
Buying through price weakness — shares -2%, value -50%
Last quarter: funds added -2% more shares while total portfolio value only changed -50%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~61 new funds/quarter
45 → 69 → 51 → 55 → 61 new funds/Q
New funds entering each quarter: 69 → 51 → 55 → 61. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 36% veterans, 45% new entrants
■ 36% veterans
■ 19% 1-2yr
■ 45% new
Of 262 current holders: 95 (36%) held 2+ years, 49 held 1–2 years, 118 (45%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆
Elite ownership — 48% AUM from top-100 funds
48% from top-100 AUM funds
34 of 235 holders are among the 100 largest funds by AUM, controlling 48% of total institutional value in SLNO. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.3
out of 10
Moderate Exit Risk
Exit risk score 4.3/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.