Based on 134 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their SPOK 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 — 93% of 3.0Y peak
93% of all-time peak
134 funds currently hold this stock — 93% of the 3.0-year high of 144 funds (reached 2025 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
〰️
Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding SPOK is almost the same as a year ago (+4 funds, +3% change). No significant rush to buy or sell — institutional backing is holding steady.
🟡
Slight buying edge — 56% buying
83 buying66 selling
Last quarter: 83 funds bought or added vs 66 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
➡️
Steady new buyers — ~25 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 26 → 22 → 23 → 25. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
58% of holders stayed for 2+ years
■ 58% conviction (2yr+)
■ 19% medium
■ 23% new
78 out of 134 hedge funds have held SPOK 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.
➡️
Steady discovery — ~25 new funds/quarter
23 → 26 → 22 → 23 → 25 new funds/Q
New funds entering each quarter: 26 → 22 → 23 → 25. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 62% veterans vs 26% newcomers
■ 62% veterans
■ 12% 1-2yr
■ 26% new
Entry-cohort mix of 134 holders: 83 (62%) are 2+ year veterans, 16 entered 1–2 years ago, and 35 (26%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 55% AUM from top-100 funds
55% from top-100 AUM funds
40 of 133 holders are among the 100 largest funds by AUM, controlling 55% of total institutional value in SPOK. 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 3.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.