Based on 47 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their SOHU 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
47 funds currently hold this stock — 76% of the 3.0-year high of 62 funds (reached 2025 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 23% fewer funds vs a year ago
fund count last 6Q
14 fewer hedge funds hold SOHU compared to a year ago (-23% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🔴
Heavy selling pressure — only 30% buying
13 buying30 selling
Last quarter: 30 funds sold vs only 13 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~5 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 5 → 10 → 5 → 5. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
77% of holders stayed for 2+ years
■ 77% conviction (2yr+)
■ 6% medium
■ 17% new
36 out of 47 hedge funds have held SOHU 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.
📊
Peak discovery — momentum slowing
10 → 5 → 10 → 5 → 5 new funds/Q
New funds entering each quarter: 5 → 10 → 5 → 5. SOHU 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 — 74% of holders stayed 2+ years
■ 74% veterans
■ 9% 1-2yr
■ 17% new
Of 47 current holders: 35 (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.
✅
Strong quality — 20% AUM from major funds
20% from top-100 AUM funds
17 of 47 holders rank in the top 100 by AUM, accounting for 20% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.