Based on 65 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 6 quarters in a row
For 6 consecutive quarters, more hedge funds added SMC 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
65 hedge funds hold SMC 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.
📶
Steady growth — +10% more funds vs a year ago
fund count last 6Q
+6 new funds entered over the past year (+10% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡
Slight buying edge — 55% buying
37 buying30 selling
Last quarter: 37 funds bought or added vs 30 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.
➡️
Steady new buyers — ~12 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 10 → 21 → 12 → 12. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 46% entered in last year
■ 5% conviction (2yr+)
■ 49% medium
■ 46% new
Only 3 funds (5%) 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 +22%, value -93%
Last quarter: funds added +22% more shares while total portfolio value only changed -93%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📊
Peak discovery — momentum slowing
28 → 10 → 21 → 12 → 12 new funds/Q
New funds entering each quarter: 10 → 21 → 12 → 12. SMC is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🌱
Early stage — 57% of holders entered in last year
■ 4% veterans
■ 38% 1-2yr
■ 57% new
Of 68 current holders: 39 (57%) entered in the past year, only 3 (4%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
🏆
Elite ownership — 45% AUM from top-100 funds
45% from top-100 AUM funds
24 of 65 holders are among the 100 largest funds by AUM, controlling 45% of total institutional value in SMC. 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.