Based on 9 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 SOUNW positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 60% of 3.0Y high
60% of all-time peak
Only 9 funds hold SOUNW today versus a peak of 15 funds at 2023 Q4 — just 60% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
🚀
Fast accumulation — +50% more funds vs a year ago
fund count last 6Q
+3 new funds entered over the past year (+50% 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 29% buying
2 buying5 selling
Last quarter: 5 funds sold vs only 2 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~1 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 5 → 1 → 3 → 1. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 33% long-term, 33% new
■ 33% conviction (2yr+)
■ 33% medium
■ 33% new
Of the 9 current holders: 3 (33%) held >2 years, 3 held 1–2 years, and 3 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
💎
Buying through price weakness — shares -13%, value -44%
Last quarter: funds added -13% more shares while total portfolio value only changed -44%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📊
Peak discovery — momentum slowing
0 → 5 → 1 → 3 → 1 new funds/Q
New funds entering each quarter: 5 → 1 → 3 → 1. SOUNW is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️
Veteran-anchored — 56% veterans vs 33% newcomers
■ 56% veterans
■ 11% 1-2yr
■ 33% new
Entry-cohort mix of 9 holders: 5 (56%) are 2+ year veterans, 1 entered 1–2 years ago, and 3 (33%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 23% AUM from major funds
23% from top-100 AUM funds
3 of 8 holders rank in the top 100 by AUM, accounting for 23% 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.