Based on 121 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their SNBR 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 — 80% of 3.0Y peak
80% of all-time peak
121 funds currently hold this stock — 80% of the 3.0-year high of 152 funds (reached 2023 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
〰️
Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding SNBR is almost the same as a year ago (+0 funds, +0% change). No significant rush to buy or sell — institutional backing is holding steady.
🔴
Heavy selling pressure — only 36% buying
48 buying86 selling
Last quarter: 86 funds sold vs only 48 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
⚠️
Fewer new buyers each quarter (-12 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 25 → 23 → 33 → 21. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔒
63% of holders stayed for 2+ years
■ 63% conviction (2yr+)
■ 21% medium
■ 16% new
76 out of 121 hedge funds have held SNBR 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.
💰
Price up while funds trimmed (+8% value, -10% shares)
Last quarter: total value of institutional SNBR holdings rose +8% even though funds reduced share count by 10%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
📈
Growing discovery — still being found
22 → 25 → 23 → 33 → 21 new funds/Q
New funds entering each quarter: 25 → 23 → 33 → 21. A growing number of institutions are discovering SNBR each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️
Deep conviction — 74% of holders stayed 2+ years
■ 74% veterans
■ 11% 1-2yr
■ 15% new
Of 130 current holders: 96 (74%) 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.
🏆
Elite ownership — 41% AUM from top-100 funds
41% from top-100 AUM funds
25 of 121 holders are among the 100 largest funds by AUM, controlling 41% of total institutional value in SNBR. 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 3.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.