Based on 13 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 SNOA 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 — 76% of 3.0Y peak
76% of all-time peak
13 funds currently hold this stock — 76% of the 3.0-year high of 17 funds (reached 2025 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🚀
Fast accumulation — +44% more funds vs a year ago
fund count last 6Q
+4 new funds entered over the past year (+44% 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.
🔴
Heavy selling pressure — only 27% buying
4 buying11 selling
Last quarter: 11 funds sold vs only 4 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~2 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 4 → 3 → 7 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 31% entered in last year
■ 8% conviction (2yr+)
■ 62% medium
■ 31% new
Only 1 funds (8%) 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.
➡️
Steady discovery — ~2 new funds/quarter
0 → 4 → 3 → 7 → 2 new funds/Q
New funds entering each quarter: 4 → 3 → 7 → 2. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 8% veterans, 38% new entrants
■ 8% veterans
■ 54% 1-2yr
■ 38% new
Of 13 current holders: 1 (8%) held 2+ years, 7 held 1–2 years, 5 (38%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 32% AUM from major funds
32% from top-100 AUM funds
6 of 13 holders rank in the top 100 by AUM, accounting for 32% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.4
out of 10
Moderate Exit Risk
Exit risk score 4.4/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.