Based on 10 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added SMCAY 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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High ownership — 91% of 3.0Y peak
91% of all-time peak
10 funds currently hold this stock — 91% of the 3.0-year high of 11 funds (reached 2023 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding SMCAY is almost the same as a year ago (+0 funds, +0% change). No significant rush to buy or sell — institutional backing is holding steady.
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More sellers than buyers — 44% buying
4 buying5 selling
Last quarter: 5 funds reduced or exited vs 4 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 — ~2 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 1 → 4 → 1 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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40% of holders stayed for 2+ years
■ 40% conviction (2yr+)
■ 20% medium
■ 40% new
4 out of 10 hedge funds have held SMCAY 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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Buying through price weakness — shares +3%, value -36%
Last quarter: funds added +3% more shares while total portfolio value only changed -36%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Peak discovery — momentum slowing
3 → 1 → 4 → 1 → 2 new funds/Q
New funds entering each quarter: 1 → 4 → 1 → 2. SMCAY is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️
Deep conviction — 40% of holders stayed 2+ years
■ 40% veterans
■ 10% 1-2yr
■ 50% new
Of 10 current holders: 4 (40%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
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Smaller funds dominant — 19% AUM from top-100
19% from top-100 AUM funds
2 of 10 holders rank in the top 100 by AUM, but together hold only 19% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.