Based on 181 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 9 quarters in a row
For 9 consecutive quarters, more hedge funds added SMBK 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.
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At the ownership peak (100% of max)
100% of all-time peak
181 hedge funds hold SMBK 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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Fast accumulation — +22% more funds vs a year ago
fund count last 6Q
+33 new funds entered over the past year (+22% 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.
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More buyers than sellers — 68% buying
114 buying54 selling
Last quarter: 114 funds were net buyers (27 opened a brand new position + 87 added to an existing one). Only 54 were sellers (36 trimmed + 18 sold completely). A clear majority buying is a strong confirmation signal.
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Steady new buyers — ~27 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 23 → 19 → 24 → 27. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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50% of holders stayed for 2+ years
■ 50% conviction (2yr+)
■ 30% medium
■ 20% new
90 out of 181 hedge funds have held SMBK for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
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Value +23% but shares only +3% — price-driven
Last quarter: the total dollar value of institutional holdings rose +23%, but actual share count only changed +3%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
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Growing discovery — still being found
21 → 23 → 19 → 24 → 27 new funds/Q
New funds entering each quarter: 23 → 19 → 24 → 27. A growing number of institutions are discovering SMBK each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
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Veteran-anchored — 55% veterans vs 28% newcomers
■ 55% veterans
■ 17% 1-2yr
■ 28% new
Entry-cohort mix of 181 holders: 99 (55%) are 2+ year veterans, 31 entered 1–2 years ago, and 51 (28%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 57% AUM from top-100 funds
57% from top-100 AUM funds
47 of 181 holders are among the 100 largest funds by AUM, controlling 57% of total institutional value in SMBK. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.