Based on 1275 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their SNOW 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 — 92% of 3.0Y peak
92% of all-time peak
1,275 funds currently hold this stock — 92% of the 3.0-year high of 1,385 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +12% more funds vs a year ago
fund count last 6Q
+135 new funds entered over the past year (+12% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟠
More sellers than buyers — 48% buying
696 buying743 selling
Last quarter: 743 funds reduced or exited vs 696 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.
⚠️
Fewer new buyers each quarter (-61 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 268 → 187 → 224 → 163. 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.
🔒
53% of holders stayed for 2+ years
■ 53% conviction (2yr+)
■ 26% medium
■ 21% new
679 out of 1,275 hedge funds have held SNOW 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.
💎
Buying through price weakness — shares -9%, value -37%
Last quarter: funds added -9% more shares while total portfolio value only changed -37%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~163 new funds/quarter
206 → 268 → 187 → 224 → 163 new funds/Q
New funds entering each quarter: 268 → 187 → 224 → 163. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 59% veterans vs 26% newcomers
■ 59% veterans
■ 15% 1-2yr
■ 26% new
Entry-cohort mix of 1,363 holders: 804 (59%) are 2+ year veterans, 199 entered 1–2 years ago, and 360 (26%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 47% AUM from top-100 funds
47% from top-100 AUM funds
65 of 1266 holders are among the 100 largest funds by AUM, controlling 47% of total institutional value in SNOW. 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 3.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.