Based on 40 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 SOLZ positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️
At the ownership peak (95% of max)
95% of all-time peak
40 hedge funds hold SOLZ right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
🚀
Fast accumulation — +3900% more funds vs a year ago
fund count last 6Q
+39 new funds entered over the past year (+3900% 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.
🟠
More sellers than buyers — 47% buying
27 buying30 selling
Last quarter: 30 funds reduced or exited vs 27 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 (-23 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 1 → 6 → 38 → 15. 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.
🔄
Mostly new holders — 85% entered in last year
■ 2% conviction (2yr+)
■ 12% medium
■ 85% new
Only 1 funds (2%) 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.
💎
Buying through price weakness — shares -50%, value -71%
Last quarter: funds added -50% more shares while total portfolio value only changed -71%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📈
Growing discovery — still being found
1 → 1 → 6 → 38 → 15 new funds/Q
New funds entering each quarter: 1 → 6 → 38 → 15. A growing number of institutions are discovering SOLZ each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🌱
Early stage — 96% of holders entered in last year
■ 4% veterans
■ 0% 1-2yr
■ 96% new
Of 46 current holders: 44 (96%) entered in the past year, only 2 (4%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
📋
Smaller funds dominant — 4% AUM from top-100
4% from top-100 AUM funds
3 of 40 holders rank in the top 100 by AUM, but together hold only 4% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 7.0/10 — multiple crowding signals converge. Institutional ownership is at 95% of its all-time high — near peak crowding. Selling pressure exceeds buying: only 47% of active funds buying. Crowded trades can unwind fast — a single catalyst can trigger a cascade.